I'm overall bearish on dxy for this month.

The market may consolidate on the lower time frame till January ending on /USD major pairs.

meshpips:


GBPUSD

Did far less than the average weekly range. Something "explosive" usually happens immediately after we see a period close with a range (spread) that is far below the period's average - THE NEXT PERIOD WILL FAR EXCEED EITHER THE R3 OR THE S3 (I strongly favour the sell side).

Levels to watch for supply are:

1.2258 and then 1.23114

Look out for sell trades around these levels.

Quoting you.. "(I strongly favour the sell side)"


As was the case the previous week.. more than 80% traders had a SELL bias. Including me.

Despite there aren't enough confirmations for a BULL run, I'd stick with the Momentum.

Let's see how the drama unfolds

Good evening bosses.

Please I want to start trading forex, I would love it if you can give me a piece of advice or help me with any material that'd be useful.

Thank you.

LorhdSamstar:
Good evening bosses.

Please I want to start trading forex, I would love it if you can give me a piece of advice or help me with any material that'd be useful.

Thank you.

I recently copied the below texts from traders here, and saved to my notebook. I'll paste them here for you:


"Any book you need on fx is on libgen. If you need full courses, go to pimpmymoney.net.

Books will only guide you, the market is the ultimate teacher.
You can read 15 books and learn only one thing from each book. The sum total of all the little things plus market showing you shege is what will give you your strategy.

That said, these are some resources I found interesting:
1. Phil Gangluff, smart money tactics
2. R.Rana, three lines: forecasting forex price action
3. Mark Douglas, trading in the zone
4. Search for range trend, spike and channel trend - (focus on market structure and trends, I posted sth related to that earlier on this thread, you can start from there.) Try and understand the idea practically instead of theoretically.
5. The Power of the subconscious mind by James Murphy : It is a book on the right attitude towards life. If you read nothing else, read it and trading in the zone. The knowledge from this book will transform your life positively.
6. The movie, Fight club: Every guy needs to watch this movie at least once- it will transform the way you think.
7.Learn about ATR (Average True Range) indicator. Start building your strategy from 4HR chart.
Tip: The market normally comes back to retest the 1ATR zone after a breakout bar on 4HR at least 70% of time. You can use this to plan potential buying moves even in what appears to be a strong downtrend.

Other than Gangluff's book, all the other books I listed are on libgen. A quick google search for Gangluff's book will show links from which you can download it free."

"YouTube fx tutorial
Trends in trends and top down analysis for more insights on trends in trends check out fx goats on YouTube and for top down analysis check dapo willis my strategy is coined from these two pro traders"

LorhdSamstar:
Good evening bosses.

Please I want to start trading forex, I would love it if you can give me a piece of advice or help me with any material that'd be useful.

Thank you.

Also, here's a channel I stumbled into months back. It's flooded with premium courses, systems (indicators & EAs), strategies etc.. you'll be spoilt of choice... Just ready enough data to download the courses of your choice.
t . me/TradingEmpireRsa

Hope this helps ya in your journey.

Edit: this is a telegram channel, if the link doesn't open, just search for TradingEmpireRsa

Maroka5:


I recently copied the below texts from traders here, and saved to my notebook. I'll paste them here for you:


"Any book you need on fx is on libgen. If you need full courses, go to pimpmymoney.net.

Books will only guide you, the market is the ultimate teacher.
You can read 15 books and learn only one thing from each book. The sum total of all the little things plus market showing you shege is what will give you your strategy.

That said, these are some resources I found interesting:
1. Phil Gangluff, smart money tactics
2. R.Rana, three lines: forecasting forex price action
3. Mark Douglas, trading in the zone
4. Search for range trend, spike and channel trend - (focus on market structure and trends, I posted sth related to that earlier on this thread, you can start from there.) Try and understand the idea practically instead of theoretically.
5. The Power of the subconscious mind by James Murphy : It is a book on the right attitude towards life. If you read nothing else, read it and trading in the zone. The knowledge from this book will transform your life positively.
6. The movie, Fight club: Every guy needs to watch this movie at least once- it will transform the way you think.
7.Learn about ATR (Average True Range) indicator. Start building your strategy from 4HR chart.
Tip: The market normally comes back to retest the 1ATR zone after a breakout bar on 4HR at least 70% of time. You can use this to plan potential buying moves even in what appears to be a strong downtrend.

Other than Gangluff's book, all the other books I listed are on libgen. A quick google search for Gangluff's book will show links from which you can download it free."

"YouTube fx tutorial
Trends in trends and top down analysis for more insights on trends in trends check out fx goats on YouTube and for top down analysis check dapo willis my strategy is coined from these two pro traders"

Thank you so much sir.

Please do you mind if I have your whatsapp number?

LorhdSamstar:
Good evening bosses.

Please I want to start trading forex, I would love it if you can give me a piece of advice or help me with any material that'd be useful.

Thank you.

You should read this too: https://drive.google.com/file/d/1ExCxWSF0RSj9svD-ucv3uEEQGBXEM76z/view?usp=drivesdk

There's something in this PDF I learnt from experience. If you're just starting, it's best to save time and avoid these mistakes.

LorhdSamstar:


Thank you so much sir.

Please do you mind if I have your whatsapp number?

My WhatsApp is on airplane mode for now...but here's my telegram,
@Maroka5

Brooktrader:


(I strongly favour the sell side)


As was the case the previous week.. more than 80% traders had a SELL bias. Including me.

Despite there aren't enough confirmations for a BULL run, I'd stick with the Momentum.

Let's see how the drama unfolds

4H setup on XAGUSD although has been ranging for weeks now, feels like its going to make a new bullish structure before pulling back. And Gold would follow the bullish momentum if it happens like that.

I’m of the opinion that the emotions of the forex market is difficult for one person to handle. I feel trading as a pair or team is better and gives more stability.
Who agrees with me?

karkinase:
I’m of the opinion that the emotions of the forex market is difficult for one person to handle. I feel trading as a pair or team is better and gives more stability.
Who agrees with me?

That's why some traders employ risk mangers and psychology expert to improve thier trading.

karkinase:
I’m of the opinion that the emotions of the forex market is difficult for one person to handle. I feel trading as a pair or team is better and gives more stability.
Who agrees with me?

Emotions?

If your assertion is entirely based on emotions, then i do not totally agree because emotions can mess up a team as well.

Observe how if you trade against popular opinion, you'd be 60-70% right.

karkinase:
I’m of the opinion that the emotions of the forex market is difficult for one person to handle. I feel trading as a pair or team is better and gives more stability.
Who agrees with me?

FTA is a team, if you're social with traders here.

Brooktrader:


Emotions?

If your assertion is entirely based on emotions, then i do not totally agree because emotions can mess up a team as well.

Observe how if you trade against popular opinion, you'd be 60-70% right.

The impact will be less severe compared to just an individual. Yes emotions always exist when we put Real money on the line.

PIPSMARSHALL:


FTA is a team, if you're social with traders here.

Do you trade as a pair with anyone on FTA.

karkinase:

The impact will be less severe compared to just an individual. Yes emotions always exist when we put Real money on the line.

In my own opinion, the team you propose should be made up of the caller, executioner, risk manager, etc. This will curtail emotional effect which is often detrimental.

If the caller does the work of the executioner, that's when emotions creep in. He may up the lot in a bid to revenge losses.

karkinase:

Do you trade as a pair with anyone on FTA.

Yes. We analyse and trade the same pair most times, and I have mentored some new traders here, so I trade live with them.
When managing emotions, you have to express yourself. If you make a killing or a loss, how you feel after a trading day and plans for the next day, you have to express it. You have to pratice using a journal.

Among the **/USD pairs I'm scanning for the week, this GU setup is too tempting to ignore.

Plenty confluence; Qml, gap, OB all in one place. Not forgetting BSL has been purged.

I'll be hovering around 5-15 minutes timeframe to look for setups to short.

I have this idea on EURUSD. That's more than 400pips target

To the newbies in here, you can study this first, to learn the basics
https://drive.google.com/file/d/1FS7d627YXis0EnhMAsIzZyb0HDhIaF4S/view?usp=drivesdk

The greatest Gifts in Life are FREE

I will never give up trading forex...... This is a Game I play till death

You will ever win..

Emmizay12:
I give up trading forex...... This is a dark Game

You will never win..

He who says he can and he who says he can't are both usually right

Elliotwaveforec:
I just counted waves with 1 minute and 5 minutes TFs, so smooth; they're good for building up capital.

This trade will fetch 50 pips even with 5 minutes TF analysis

Short UJ with TP at 2714 SL 2805

Good evening boss. I started reading about Forex and demo trading about three months ago. This thread has been an eye opener for me but your Monica "Elliott wave" really made me inquisitive and as such, I read about Elliott wave theory's and also watch some YouTube videos but most are ambiguous. I must admit that I really fell in love with that strategy and going through the calls you made here gives me the confidence that there's light at the end of the tunnel if I work hard and smart. However, my challenge is how to draw the waves correctly. Can you please explain how to correctly draw the waves and if there's are materials that really explain it.
Thanks.

Emmizay12:
I give up trading forex...... This is a dark Game

You will never win..

Even in Christianity, not everyone are meant to go to heaven but heaven is real. In forex, not everyone would make it also but the few and I am among the few making it.

My own be say. I also channel prayers to it in the Lord's chosen and the God of chosen has helped me to be making it. Each time my pastor would say "make 3 prayer request, trust me guys, this forex was also part of my request. Una go dey think say I dey play or joke, I love this business die. Na so holy ghost helped me, the thing just click with the help of some mentors.

Me self must chop this forex money.

Emmizay12:
I give up trading forex...... This is a dark Game

You will never win..

Take a break. Here are some things I've learnt over the past few months...
1.) Getting high of day on lower tf other than 4hr rarely ever works
2.) All reversal signals can fail. You need a combination of reversal signals for success to occur. Bearish engulfing plus two pinbars and market going lower has higher probability of success than just evening star.
3.) Trying to use evening star/bearish engulfing to reverse high of day at key area on 1hr chart will fail most times or lead to high frustration levels as the market goes on a range for 4-6 hrs.
4.) If na quick money u dey find, no be for forex. Better to try binary options and go for touch or no touch on deriv. I was lucky to do 10x in the last 2 weeks - I made mistakes with my entries but I was still able to do that because I wasn't worried about stop loss placement.

Geovanni412:


Take a break. Here are some things I've learnt over the past few months...
1.) Getting high of day on lower tf other than 4hr rarely ever works
2.) All reversal signals can fail. You need a combination of reversal signals for success to occur. Bearish engulfing plus two pinbars and market going lower has higher probability of success than just evening star.
3.) Trying to use evening star/bearish engulfing to reverse high of day at key area on 1hr chart will fail most times or lead to high frustration levels as the market goes on a range for 4-6 hrs.
4.) If na quick money u dey find, no be for forex. Better to try binary options and go for touch or no touch on deriv. I was lucky to do 10x in the last 2 weeks - I made mistakes with my entries but I was still able to do that because I wasn't worried about stop loss placement.

bro I'm tired of anything strategy or whatever, I just feel like I'm really unlucky in the business,, I can practice for years, go live and everything unlucky just happens, my risk management na death by a thousand cuts..

lol, at first I though that was the game, but it occurred too much not to notice ....

I've learnt everything there is to learn , practice what there is to practice, how long before the losing stops and the money comes, is it until losses swallows me before I know it's time to quit.....

to all you guys still gambling in the name of Forex I wish you luck..

Emmizay12:



bro I'm tired of anything strategy or whatever, I just feel like I'm really unlucky in the business,, I can practice for years, go live and everything unlucky just happens, my risk management na death by a thousand cuts..

lol, at first I though that was the game, but it occurred too much not to notice ....

I've learnt everything there is to learn , practice what there is to practice, how long before the losing stops and the money comes, is it until losses swallows me before I know it's time to quit.....

to all you guys still gambling in the name of Forex I wish you luck..

You really seem to be cashing out judging from your old posts, what went wrong.

If you've truly tasted FX profits before, don't give up bro.

Your success stories is an encouragement to alot of us.

[quote author=Emmizay12 post=120068466]

The journey is first bitter before its sweet, all i can say is if you want to give up, give up those successful traders you see today we're in your shoes once, and when you look at this successful traders you don't know the amount frustation they've been through we just see them and feel like it was easy for them nah forex is in hard stages the higher you go the harder it becomes until your at the top it won't get easy my guy the same thing your feeling now we all felt it at some point so you better get up and work twice harder and tell yourself giving up is not an option

Emmizay12:



bro I'm tired of anything strategy or whatever, I just feel like I'm really unlucky in the business,, I can practice for years, go live and everything unlucky just happens, my risk management na death by a thousand cuts..

lol, at first I though that was the game, but it occurred too much not to notice ....

I've learnt everything there is to learn , practice what there is to practice, how long before the losing stops and the money comes, is it until losses swallows me before I know it's time to quit.....

to all you guys still gambling in the name of Forex I wish you luck..

You have given your all bro, this is a wolf game. Not everyone will be a surgeon or pilot, forex is not different, it's a craft! My elder bro said the same when I was staying with him, he tried do this but he couldn't cope, today he is doing well as a medical radiographer in UK . There are thousands of ways to make it life. My God continue to bless my ex, she pushed me into this game and I'm loving it. Good luck

But If you decide to give up then give up forex is not for everyone you should have known the terms and conditions related to forex before you start we no wan hear motivate yourself or give up forex is not for the weak!

someone just also gave up on forex in a telegram group I belong to, he used to post profits he makes on gold trades, but unfortunately this last CPI bleeped him. he made profit of about $200 on his $500 account, and then losses both profit and capital to news.

it's not easy I know. I have been there, closed my charts for over some time but I am not giving up.

people are making it and some other people are failing. I can be among the people that are making it. its just time. you cannot win 100 percent but u can make ur winnings be more impactful than ur losses.

I have been there too.
It's not easy.
In fact, I'm still battling with it at the moment.

D thing wey forex and binary options don take my eyes see ehn.....hmmmm!

Forex no be anybody's mate

But I'm convinced that I'll make it.
Yes, I'll succeed because I've gone a long way in this forex journey. Lol.

QUITTING now is NOT and will NEVER be an option.

After all, those successful traders do not have more than one head and they're humans like us.

It's well.