Cc.

Samfelly

Daily Trading Nugget

AVOID FOMO (FEAR OF MISSING OUT)
That one applies mostly to the trades that you are not so sure about, but still want to take them, in fear of not making money. And the early entries are determined by FOMO too (what if the price does not reach my limit order, and the trade plays out well, but without ME?)

FOMO is Incredibly counterproductive, don't let it control you!

Tuesday 17th August, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

Daily Trading Quote

"Bulls make money, bears make money, pigs get slaughtered.."

“Trade decisions are not binary, long vs. short. Sometimes doing nothing is the best trade you can make”

Your job as a trader is to wait for trading setups that meet the criteria of your trading plan.

Big money is made by sitting on your quality positions not forcing trades out of impatience.

Spend your time formulating a legit trading plan instead.

Plan your trades,Trade your plan

- Anderson (TC28)

VlamesIffect:


Boss na only me or that JPY and USD dey correlate?

Yes but not all the time though...

Also depends on the pairs too...

For currency strength you can check...


triopips. com/ currency- strenght- meter. php

OTE - Optimal Trade Entry

Cc.

midps010
MONEY247

Monday 16th August, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

Welcome to another trading week...

The Market opens with JPY currently one of the strongest currencies right now and sweet to trade with XXXJPY all selling over 100+ pips...

AUDJPY
CADJPY
USDJPY et all.

If the momentum would be sustained during London session is what I'd love to know because OTE for the pairs listed would give you lotta pips in your basket...
(Modify) (Quote) (Report) (Share)

t. me/OriginalKaefx

JPY currently one of the strongest currencies right now and sweet to trade with XXXJPY all selling over 100+ pips...

AUDJPY
CADJPY
USDJPY et all.

If the momentum would be sustained during London session is what I'd love to know because OTE for the pairs listed would give you lotta pips in your basket...

Daily Trading Nugget

#7 Embrace the Risk

Let us know if this sounds familiar: You claim that you’re OK losing your money and that you always place your stop. But when you place your stop far off your entry price and don’t see the trade developing as you had expected, you move your stop up. Now guess what?
The stop is triggered just before the market moves in the direction you originally expected. And so, it turns out that your analysis was right but what stopped you from trusting your trading was a fear that you could lose money.

You must be comfortable with taking risks and letting trades play out.

Friday 13th August, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

Thursday 12th August, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

Wednesday 11th August, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

Trading the Financial Markets (Forex) is very hard. Difficult moreso.

If you choose to go through it, you will definitely win one day.

But if you stop, you take away the slightest chance to break free.

The slightest chance.

Think about it.

What is trading psychology?

Trading psychology refers to a trader’s mindset during their time on the markets. It can determine the extent to which they succeed in securing a profit or it can provide an explanation as to why a trader incurred heavy losses.

Innate human characteristics like biases and emotions play a pivotal role in trading psychology. The main focus of learning about trading psychology is to become aware of the various pitfalls which are associated with a negative psychological trait and to develop more positive characteristics. Traders well-versed in trading psychology will generally not act on bias or emotion. They, therefore, stand a better chance of yielding a profit during their time on the markets or, at the very least, of minimizing their losses.

Trading psychology is different for every trader, as it is influenced by each individual’s own emotions and pre-determined biases. Some of the emotions which impact trading are:

Happiness
Impatience
Anger
Fear
Pride

GabsonFX:
Currently killing gold again, currently at 138.0pips, I'm very close to meeting my monthly 30% profit......fingers crossed.

Entries below 1745 currently milking 250+ pips

Should see a reaction right about this region now or we fall back to base 1700

Just 5 live accounts, I'd rather say 10

Kick off tomorrow Or January ?

I'm in anytime/ anyday

Cc.
Gabsonfx
Feshizzy
Samfelly

Summer Doldrums:

Summer slowdown takes roots in the fact that plenty of people take vacation during this time. This includes professionals who place orders on behalf of banks, hedge funds, and other financial institutions. Since large, commercial, market participants constitute balk of the volume in forex, their absence creates drop in liquidity. This causes price to behave in even less predictable manner.

For example, trends tend to be shorter in duration and not as explosive. Chart patterns will demonstrate higher-than-normal rate of failures.

~ Michael Huddleston

Tuesday 10th August, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

Daily Trading Nugget

Fill the “profit gap” with the right things…
In his books and seminars, Mark Douglas often refers to something he calls the “profit gap”. What he is talking about is basically the difference or “gap” between the potential profit you could achieve if you had just followed your trading method and what your actual bottom line results are.

Traders often begin trading a method with very high hopes. They want to produce an income they can rely on and get consistent results from their trading. However, this is only possible if you are trading an effective method with discipline and consistency, which most people simply do not do and as a result, they experience the profit gap that Mark refers to.

The key point that Mr. Douglas makes about this profit gap is that traders typically try to fill the gap by learning more about the market, changing methods, spending more time in front of their computers etc. However, what they really need to learn is more about themselves and how they interact with the market. Essentially, they need to acquire the “proper mental skills” to trade their method as they should and to get the most out of it, in order to properly fill the profit gap.

- Nial☺️

GabsonFX:
I'm in.

But if and only if
1. only live accounts are considered, no demo
2. No cent account
3. not less than 5 of us....the more the merrier....

Then count me in

I'm in for a live Alc minimum equity $100

Monday 9th August, 2021

⚓ FUNDAMENTALS ⚓






⚓TRADER'S SENTIMENT ⚓






⚓ CURRENCY INDEX ⚓

GabsonFX:
I really thank God, I took $400 ish from the gold fall in 30mins with a 0.05lot

Smiling....

Kaesyrn:
1000 Pips dump on Gold...

Reason for the sell,


FUNDAMENTALS / TECHNICALS / SENTIMETAL / STATISTICAL ?

Gold had a bad session on Friday ... but its all relative :-D
'Death cross' calls from technical analysts doing the rounds now. Other t/a points to breach of $1750.
As are suggestions that the weekend BTC rally has highlighted the attraction of crypto over gold now ... I'd suggest this is grasping for a narrative or a bit of axe-grinding but there you go.
Reports of large selling ... which seems rather self-evident. 24k contracts sold (and, obviously, bought ... but it was the bids getting slammed).

One thing to bear in mind is the time, as in what time is it? Its really early in the week, which as I warn every single time in my first post of the week is a time of poor liquidity. I give that warning in the context of FX but it applies to any instrument at this time (not crypto, which trades all weekend). There are no deep markets at this time of the weekly cycle. This lack of depth can (not always obviously) lead to extended moves.



https://www.forexlive.com/news/!/more-on-gold-getting-smashed-20210808

Kaesyrn:
1000 Pips dump on Gold...

Reason for the sell,


FUNDAMENTALS / TECHNICALS / SENTIMETAL / STATISTICAL ?

Liquidity grab...

Buys coming in now...

Triple bottom on W1 TF

We should see a retracement to the upside a little before the bears come out to play again

1000 Pips dump on Gold...

Reason for the sell,


FUNDAMENTALS / TECHNICALS / SENTIMETAL / STATISTICAL ?

Bitcoin Hits $45,000 for the First Time Since Mid-May

Bitcoin, the largest cryptocurrency by market cap, managed to revisit the $45,000 level for the first time since May 18 at 6:05 a.m. UTC on the Bitstamp exchange.

It has now recovered more than 57 percent from its local bottom of $28,621 that was recorded on July 22.

Daily Trading Nugget

Winning and being a winning trader are two different things…
Anyone, and I literally mean anyone, even a 5-year-old child, can find themselves in a winning trade. It does not require any special skill to get lucky on any particular trade and hit a winner. All you have to do is open your trading platform and push a few buttons and if you get lucky, you can make a lot of money in a short amount of time.

As a result of the above, it’s natural for a trader who has not yet developed his or her trading skills to take the leap from “it’s easy to win” to “it can’t be that much harder to make a living from this”.

This is how many traders’ careers get started. Needless to say, it is also how they get on the path to losing a whole lot of money just as fast or even faster than they made it.

A winning trader has the mental skills to realize, understand and utilize the FACT that any particular trade he or she takes has basically a random outcome. That is to say, they cannot possibly know the outcome of that trade until it is over. The winning trader knows this and they also know that they must trade in-line with this belief over a large series of trades and ignore all the temptations and feelings that get kicked up on each trade they take. They are able to do this because they keep their eyes on the bigger picture. That bigger picture is the fact that IF they execute their method flawlessly, over and over, over a long enough period of time / series of trades, they will come out profitable.

Thus, do not mistake a winning trade for you being a winning trader, yet. A very easy trap to fall into.

- Nial

Happy Profitable Week Ahead ❤️�

Today's Nugget

◼️"If you never try,You will never know...

◼️Don't doubt your ability to succeed...

◼️You may be just a step away to success...

◼️Stay focus ✅

◼️Stay positive ✅

Kaesyrn:


Fundamentals portrayed hawkish for DXY

Breaking the 92.40 minor resistance, a retest at this current level 92.70 then next probable target 93.**

Overall todays NFP was all greens

Speaking about greens