Supremefx:


Keep me updated, I’d like to know your take on this in relation to the other risk management strategy using fixed lot size ( what happens when you go in draw down? Do you reduced the lot size as well ?)

Davigle:


Your UJ sell is on point, I'm seeing the same too.

Mcslize:
Who quit Forex na fûck up o.

GBPUSD is ready to sell this new week. Check out the weekly time frame. That bearish engulfing candle stick is a go ahead confluence to look for sell opportunities for the new week. It will sell to the next major key level. We are still very much bearish on the higher time frame.

samfelly:


I just watched it now. 0.94 lot size is too much of a risk for a $10k prop account o. For a struggling newbie like me, it is too much, but for pro like Gabson, it is alright.

When in drawdown, I don't reduce if I am using the fixed 0.1. I'll just try (emphasis on try) and make my entry precise at the beginning of the candle forming, be it 4H or Daily.

MrDoGood:
I just got a 6k Steller challenge account with fundednext.

Wish me luck guys .

MrDoGood:
I just got a 6k Steller challenge account with fundednext.

Wish me luck guys .

Emmizay12:


I want to give you some positive feedback but I gotta tell you the truth, first of all, you got into trading 16yrs back and you gave up? you for be expert rn

That tells me you have no passion for trading,
Your tendency to give up again is far higher than 16yrs ago
You saw trading as nothing and didn't do nothing to improve
You are here because of hardship
Trading is a side hustle for you, nothing bad in that but it can be a very good side hustle, WHEN YOU BECOME PROFITABLE not before

My advice, you have to put in a lot of energy and mental strength and use a different approach because whatever it is you saw that made you quit 16 years ago is waiting to show you it's real colours this time with extra sauce,

Emmy, you've spoken well.

I kinda share the same story with Abbas01. It was about that same year I attended my first forex seminar, also. Then, I saw those guys (d organizers) as hustlers trying to get peoples' monies, cos they had a lot of CDs and photocopied materials to sell to us for some extra fees after charging attendance fees o . And also I saw the money they portrayed before us, in forex market, as impossible to get . Cos if it were, they wouldn't be looking to hustle us, I reasoned, hence my lack of interest then until #Lockdown happened and the narrative changed. I can only thank God that I quickly rekindled the interest and went hard with 63% throttle power.

samfelly:


Emmy, you've spoken well.

I kinda share the same story with Abbas01. It was about that same year I attended my first forex seminar, also. Then, I saw those guys (d organizers) as hustlers trying to get peoples' monies, cos they had a lot of CDs and photocopied materials to sell to us for some extra fees after charging attendance fees o . And also I saw the money they portrayed before us, in forex market, as impossible to get . Cos if it were, they wouldn't be looking to hustle us, I reasoned, hence my lack of interest then until #Lockdown happened and the narrative changed. I can only thank God that I quickly rekindled the interest and went hard with 63% throttle power.

Puremark:
davigle what is take on eurjpy and gbpjpy for this week.

abbas01:




Yes, you're right my guy. Funny enough, I didn't even try trading at all after I attended the seminar during my undergrads. Although I believed at the time that my trading knowledge was insufficient, I was aware of the potential in forex. There was a dearth of information on forex trading back then. To be clear, I didn't quit because I never started trading in the first place. Instead, I pursued other business endeavours and even japa'd in 2012. My attention and efforts were channeled toward working 9–5 jobs overseas since then, and while I've done well for myself, there's always room for improvement. I never knew forex is this big now until I started my research about it a few months back. I got my mind on it now for real (100%) and on an long term. Any Canada base traders in this forum? Cheers!

Davigle:


Your UJ sell is on point, I'm seeing the same too.

Davigle:
Alright folks, here's my roadmap map for the week ahead and also as a bonus to any newbie here struggling with technical analysis you can make a request here on the forum and I will analyse any pair of your choice that you ask of me. I'm no expert nor a professional but I am willing to help a fellow noob.
Among the charts below, Aussie has my attention at the moment because the current price action looks optimal
Cc: abham, rhynoemmie, kozmicity, samfelly and et all

abbas01:




Yes, you're right my guy. Funny enough, I didn't even try trading at all after I attended the seminar during my undergrads. Although I believed at the time that my trading knowledge was insufficient, I was aware of the potential in forex. There was a dearth of information on forex trading back then. To be clear, I didn't quit because I never started trading in the first place. Instead, I pursued other business endeavours and even japa'd in 2012. My attention and efforts were channeled toward working 9–5 jobs overseas since then, and while I've done well for myself, there's always room for improvement. I never knew forex is this big now until I started my research about it a few months back. I got my mind on it now for real (100%) and on an long term. Any Canada base traders in this forum? Cheers!

Davigle:
Cc: puremark
I know you don't trade ICT concepts and I'm not trying to sell the idea to you, but if you look at the daily chart of both EJ and GJ, you would see an SMT divergence where EJ made a failure swing by failing to break the previous high while GJ raided liquidity above the previous and then breaking structure aggressively.
Last, looking at cot report on the yen, euro and the sterling, the commercials (aka smart money) are net long on the yen and net short on both the euro and pound. And last week Tuesday, the commercials added to their long positions on the yen while adding to their short positions on both the euro and pound and open interest increased greatly on all three reports.

I know I typed alot of gibberish up there which may not make a lot of sense to you but I suggest that you just take the parts that compliment your analysis, and besides use proper risk management when trading as the market may decide to rubbish my analysis as Powell no be my papa...

So overall I am bearish EJ and GJ from the HTF, but I will wait for the LTF to align with the HTF as the LTF is bullish at the moment, bearish market structure shift on the hourly chart should signal the continuation of the HTF bearish trend, cheers and I hope it helps you, also elders in the house, pls don't hesitate to make your contributions or correction as I am also open to learn from my mistakes

geedot:
I missed out on the 1st move, I mapped it out since last week and forgot to check it up (disadvantages of trading many pairs). I'm expecting a retest of that zone you circled 1.274xx, as you can see I had an arrow pointing downwards from that spot too, so I can sell from there. I hate joining trades in the middle, it's like being dropped in the middle of a war without shield.


Different stroke for different folks though.

Mcslize:


Exactly. That's why I have cut down the pairs I trade to 2. There is always this temptation of wanting to trade many pairs.