EJ Sell Trade

EJ Sell Trade Set up

After a short pause on its bearish move which started late last month, EJ is likely to continue the progressive volatile movement to the south.
With sound money management, we join the bearish wagon by today's market close 132.10, with stop loss at 133.10 targeting the near term support 130.10
If we are right, this could take a few days to hit target See trade as posted below:

STEPS TO BECOMING A PROFITABLE TRADER WITH 8 - 4 JOB (Cont'd)

4. Active improvement as a trader

The question that naturally comes up often is: “how do I turn my current (losing) trading method into a winning one?” Here are 2 tips and things you should focus on to improve as a trader:

#1 Identify your biggest problems and take responsibility

Traders often mistakenly believe that their lack of trading success is caused by their trading method which then usually leads to system-hopping (Jumping from one trading system/method to another). However, failure typically comes down to undisciplined trading, a lack of professionalism and a pure gambling mentality.

Thus, the first step for you should be to
identify your greatest problems and your most commonly made mistakes. Audit your trading and take a good look at your past trades and find your 2-3 greatest mistakes that cost you the most money and work on them. You’ll see that those problems are usually always of personal nature and not a flaw in your method. Traders who always try to blame their system avoid taking responsibility and look for excuses instead of doing the work that is necessary.

Tip 4: Over this weekend, review your past 30/40 trades and see what caused your losses. Then come up with a top 3 list with your most commonly made mistakes.

#2 Process-oriented thinking

This ties in with the previous point. Most people act from a goal-oriented mindset where they automatically connect winning trades with good trades and see losses as failures. Such a way of thinking shows an amateur mindset. The professionals, on the other hand, act from a process-oriented mindset where they look at how well they have executed their trades and how disciplined they perform. Thus, for a process-oriented trader, a loss does not necessarily equal a bad trade if they have done everything they could. Professionals accept the randomness of the results and understand that over the long-term, things will work out.

Tip 5: Avoid monetary goals and for the next 2 months, stop looking at your P/L. This will be tough but the impact will be huge.

For further training and trading tips, follow this thread or see my signature below to contact me directly. Please note, this down-to-earth online training/trading guide is almost free but with a token as it is for the serious ones and only those that want to take their financial future seriously.

Enjoy your weekend!

STEPS TO BECOMING A PROFITABLE TRADER WITH 8 - 4 JOB (Cont'd)

5. Get your priorities straight

There is an interesting survey I came across and it shows how people structure their day.
The average employed American spends 7:45 hours at work on a regular work day. At the same time, the average American watches 2 hours and 9 minutes TV each day and only invest 25 minutes per day in education. Also, the average sleep time is at 8 hours and 48 minutes which exceeds the recommended 8 hours per day by almost 1 hour.

When you are working towards becoming a full-time trader, you have to be clear about your priorities and make sure that your actions align with your goals. Are you willing to wake up one hour ahead of schedule every day, stop watching random TV series, skip a night out with friends every now and then and re-invest that time back into your trading? Granted, those are tough calls to make and you might say that “you still need to live a little”, but putting in the work now to reap the benefits in a few years will take your life to new heights.

Tip 6: Audit your week and identify time wasters. Then, just eliminate 1 such time-waster and use it to work on your trading.

“The ability to discipline yourself to delay gratification in the short term in order to enjoy greater rewards in the long term, is the indispensable prerequisite for success.” - Brian Tracy

For further training and trading tips, follow this thread or see my signature below to contact me directly. Please note, this down-to-earth online training/trading guide is almost free but with a token as it is for the serious ones and only those that want to take their financial future seriously.
Enjoy your weekend!

AUD/JPY BUY TRADE (Active)
Entry buy 88.6 SL 87.65 TP 90.00
See chat below.

GBP/AUD PENDING SELL ORDER

For over a week, the pair has been ranging. But from the technical point of view, the possible position is sell bias. If the price is able to breakthrough and close below the support level 1.6813/800, we will be heading towards south.
In order not to miss this possible scenario, we place a pending sell stop order as seen below:

Sell Stop 1.6770
SL 1.6920
TP 1.6450

Best wishers

STEPS TO BECOMING A PROFITABLE TRADER WITH 8 - 4 JOB (Cont'd)

6. Don’t focus on the when and the how much . Asking the wrong questions at the wrong time…

I often get the question of how much you can make and how big your trading account needs to be to live off your trading profits. When I then counter with the question how much those people are currently making as traders, it becomes obvious very fast that they are focusing on the wrong things at the right time and they are not even profitable yet.

Especially at the beginning of your trading journey you should not worry about how big your annual return can be and how much capital you need to save before making the transition to trading full-time. Focusing on those things will get you off track and keep you from making progress – it can also demotivate you when you see how much work is ahead of you. Instead, focus on your problems and struggles that you have RIGHT NOW. How can you stop losing money consistently, how can you stop repeating the same mistakes, what was the major cause for your past 30 losses, what does it take to become a break-even trader, how do you manage your risk and size your positions and so on…

Tip 7: Focus on the immediate task ahead and work on your current problems. Small improvements over time add up.

For further training and trading tips, follow this thread or see my signature below to contact me directly. Please note, this down-to-earth online training/trading guide is almost free but with a token as it is for the serious ones and only those that want to take their financial future seriously.

Happy Sunday and a great week ahead!

Fx4Pay:

While we lost the above AUD/JPY buy trade as the turns around pull downwards. we will reenter the trade by going short and sell at current market price 87.60/65.
SL 88.70 and TP is 84.60

Trade responsibly

STEPS TO BECOMING A PROFITABLE TRADER WITH 8 - 4 JOB (Cont'd)

7. The dangers of demo trading

There is a place for demo trading, but most people stay on demo too long. What I have seen in my own trading and from the traders that I helped is that demo trading often lets people adopt negative behavioural patterns that are then very hard to unlearn. When your actions don’t have any real consequences, you are more likely to repeat mistakes and engage in bad trading behaviour. This also holds true for trading with too small trading accounts.

I typically suggest staying on demo for the first 6 – 12 months until you have a good understanding of the nuts and bolts and then take your trading to the next level. Be prepared, you’ll very likely lose your first few live trading accounts and it’s important to make sure that:

(1) you trade with money you can afford to lose,
(2) your trading account is not too small at the same time,
(3) you HAVE TO learn the right lesson to make the losses worth it and
(4) become self-aware of your problems and shortcomings.

Tip 8: The pecking order is:
Demo > small live account > decent live account > an account where your winners are impactful.
And make sure that you learn your lessons from the first trading account(s) you lose!

For further training and trading tips, follow this thread or see my signature below to contact me directly. Please note, this down-to-earth online training/trading guide is almost free but with a token as it is for the serious ones and only those that want to take their financial future seriously.
Happy Sunday and a great week ahead!

STEPS TO BECOMING A PROFITABLE TRADER WITH 8 - 4 JOB (Cont'd)

8. 3 tips for growing a trading account

If you are like most traders (and that’s also how I started), you probably don’t have the capital to start with a trading account that allows you to generate a decent income right away and that’s totally fine. But you have to make sure that you follow the right path. Here are my top 3 tips that will help you grow your account and enjoy the process:

i. Patience and expectations

Let’s start with the most important point. Having unrealistic expectations very quickly lead to frustration when those expectations aren’t met. Always keep in mind that what you are doing is creating a new life and a new career for you. You have to get away from the get rich quick mentality and accept that this is a long-term play. Don’t expect to quit your job in a 1 or 2 year, but acknowledge that trading is just a different career path which requires time and effort.

Traders want "to trade for a living" but then act like they need to retire next month. Stay patient, learn the basics, manage risk & enjoy.

Tip 9: Adopt realistic expectations and avoid monetary goals.

ii. Recognize your true edge as a part time trader

This is often your greatest advantage over full-time traders and it’s also the reason why I also engage in other business activities besides trading. When trading is not your only source of income, you can eliminate a lot of the pressure that often causes traders to make mistakes. Also, when you are not glued to your screen all day long, you are less likely to make bad trading decisions just because you are bored or haven’t taken a trade in a while.
I have talked to many traders who enjoy their day job and pursue their trading as a side business where they find an additional challenge to their regular routine, while earning some complimentary income. Maybe you don’t even have to become a full-time trader and just trade a few hours every day?

Tip 10: Understand your motives and become self-aware about how you perform best while achieving your life goals.

iii. Be HONEST with yourself

The cold, harsh truth is that, in the end, no one cares if you make it as a trader. That’s why it so important to be honest with yourself and with your current situation. Analyse your approach to trading realistically, your level of professionalism and whether you are serious enough about it, or whether you are just trying to get lucky and find a Holy Grail system.

The failure rate in trading is somewhere around 99%, but it’s not necessarily that high because trading is so damn hard, but because most don’t give it their full attention and just see it as a quick way out. However, many people have done it and realized their goal of becoming full-time traders and if one can do it, there is no reason why you can’t do it too.

Tip 12: Are you serious enough about trading? Be honest with yourself and evaluate your current approach to trading.

For further training and trading tips, follow this thread or see my signature below to contact me directly. Please note, this down-to-earth online training/trading guide is almost free but with a token as it is for the serious ones and only those that want to take their financial future seriously.
Happy Sunday and a have great week ahead!

Fx4Pay:


While we lost the above AUD/JPY buy trade as the turns around pull downwards. we will reenter the trade by going short and sell at current market price 87.60/65.
SL 88.70 and TP is 84.60

Trade responsibly

The take profit was adjusted in the course of trading last week to 85.20 as we took 50% profit of the trade last week Friday giving us about $200+
Finally, the TP was hit and profit from the second part of the trade was massive $400 as you can see below. PATIENCE is the Key.

mas4synergy@gmail.com

USD/JPY SELL TRADE
Last night on the WhatsApp training platform, me and one of my students analysed the UJ and we unanimously agreed that the pair is on the downside. based on the market technically outlook as the pair is strongly struggling with a major support that turned to a key resistance level. we place a pending sell stop order with 100pips stop loss and 300 pips target as attached below
Currently this morning, the dude, UJ is moving to the sound as analysed.
We will patiently ride with this trade and see how it goes in the next few days or weeks.

For further training and trading tips, follow this thread or see my signature below to contact me directly. Please note, this down-to-earth online training/trading guide is almost free but with a token as it is for the serious ones and only those that want to take their financial future seriously.

Have great weekend ahead!

Happy New Year 2018 to all of you.

It's been a while we were here. I will be giving out some tips to trade successfully as a beginner just as I have been doing in the past.

5 Forex Beginner Tips That Will Save You Money.

The 5 forex trading tips listed below even though they can't guarantee success ― nothing ever can, otherwise everybody would be successful ― they can save you a lot of money. Experience shows that many beginning forex traders bleed money mainly because they fail to follow these five principles:

Forex Beginner Tip 1.

Money Management

Rule number 1 for every forex trader is to survive. Every trader has losing trades, but when you go broke you can put yourself in a position where you can no longer have winning trades. Therefore, before everything else you have to make sure you stay in the game.

Many beginning and/or consistently losing traders focus exclusively on having a profitable trading strategy. But even though a good trading strategy is definitely important, using solid money management and having a rational, disciplined trading attitude will get you further at the end of the day.

Two rules of thumb for good money management are not to risk more than 3% of your trading capital per trade and making sure you have enough trading capital for at least 40 trades when you are a beginner.

For further training and trading tips, see my signature below to contact me directly. Please note, this down-to-earth online training/trading guide is almost free but with a token as it is for the serious ones and only those that want to take their financial future seriously

Forex Beginner Tip 2.

Always use a stop loss

The stop loss is perhaps the most powerful weapon in your arsenal as a forex trader, just as the most powerful weapon of the professional poker player is the fold (if that means anything to you). The stop loss allows you to predetermine your risk down to the pip, therefore ALWAYS use it!

There are really only advantages to putting in a stop loss. It forces you to think about when the trade you're about to put on would be considered a failure. After you've opened the position you might talk yourself into staying in a trade going bad, using all kinds of irrational excuses. But if you've set a stop loss before opening the trade (when you were still thinking rationally) you'll always have that shining beacon, reminding you that you'd be a weak, emotional idiot if you stayed in the trade after the stop loss is triggered.

Setting a stop loss also forces you to think about your profitable trades/losing trades ratio. Suppose you want to risk 50 pips to win 100 pips, that would mean you'd need a winning trade at least 33% of the time to break even. Does your trading strategy get you a profitable trade 33% of the time?
Another advantage of the stop loss is that you don't have to be afraid that one badly chosen trade will kill your whole account in case the trade goes bad and for some reason you're not in a position to close it manually. So remember to always put in a stop loss and never move it further away after opening the trade.

Enjoy your weekend!

MY whatsapp number. pls i want to try this..

08161349713... pls add me to d group chat... and hw can i start a demo trade?

Forex Beginner Tip 3.

Be Realistic

Unless you are amazingly lucky you can't expect to close 80% of your trades profitably or turn a $500 trading capital into a $10,000 trading capital in six months. With those kind of expectations you're simply setting yourself up for disappointment, frustration and failure. (unless you're very, very lucky).

Try to look at things realistically right from the start. Determine an attainable percentage of winning trades considering your strategy and experience. Ask yourself how much time you can spend on trading and learning. When you have a clear view of your trading tools and conditions, you will find it much easier to work towards a profitable trading strategy.

For example, suppose you're a day trader with a trading strategy where you risk, on average, 15 pips to win 30. After doing about 200 trades, it turns out that 50% of your trades reached their profit target of 30 pips; the other 50% of the trades went sour and triggered your stop loss. So you've won 100 x 30 pips = 3,000 pips and lost 100 x 15 pips = 1,500 pips, for a gross revenue of 1.500 pips total. Gross revenue, because you still have to deduct the spread, i.e. the transaction cost you pay your broker, remember? Let's say the spread is 2 pips per position, meaning your 200 trades costed you 400 pips. Your net revenue then, was 1.100 pips over 200 trades, or 5.5 pips per trade.

Of course data on 200 trades isn't enough yet to be of statistical significance, but at least it would give you something to work with: on average, each trade nets you 5,5 pips.

For further training and trading tips, follow this thread or see my signature below to contact me directly. Please note, this down-to-earth online training/trading guide is almost free but with a token as it is for the serious ones and only those that want to take their financial future seriously.

Enjoy your day!

Forex Beginner Tip 4.

INTERACT with other Traders
For beginning traders, an often overlooked source of information is other traders. Of course, reading books about forex is important. Books can provide you with a solid basis in a short time, providing a foundation to build on.

Practicing is another important factor to get the hang of things quickly, but you'd be surprised to find out how often fellow traders can give you valuable feedback about your trading strategy, or about alternative ways for putting on a particular trade. You should therefore become part of an online forex community and/or consider starting a trading blog, so people can comment on your strategy.

Don't be embarrassed because you're a beginner; remember that we all started out as beginners at some point, and many of the traders you'll meet on online trading forums are also just starting out.

Have a blessed week ahead!

Join my forex trading membership community on WhatsApp today and learn how to trade the markets profitably even with your 8am - 4pm daily job.

The daily trading course runs from Sunday's evening to Friday's evening, 8pm - 10pm.

New Year Special…
Save 30% Off My Professional Trading Course & Daily Trade Setups

Until January 31st, Save 30% Off Monthly Access To: 

– Price Action Trading Mastery Course
– Daily Trade Setups Analysis
– Live Trade Setups Forum on WhatsApp
– Online Training & Coaching

Send "Fx Trading Course" with your WhatsApp number to 08177094389 (WhatsApp SMS only, pls).

Forex Beginner Tip 5.

Keep your emotions under control

This last trading tip is perhaps the most important one. As previously said, trading on the forex is exciting, fun and dynamic, but it's crucial not to get carried away because of this. Successful traders approach trading like a business, not a hobby.
You use your trading capital to make business decisions; some will make you money, others will cost money, it's that simple. But as soon as you lose sight of your rationality I promise you that the losses will stack up pretty quickly.

I'm talking about those moments that you do move your stop loss, because you just can't get yourself to take the hit. Or those moments that you decide to get in right now, even though your trading plan tells you to wait, because you're so scared to miss the trade, or perhaps you're just bored. Those moments that you're so mad that you lost 10 trades in a row that you start trading with triple your normal risk, taking positions in currency pairs you normally never trade in.

Those are the moments you lose in 30 minutes what it took you three weeks to build up.

Join my forex trading membership community on WhatsApp today and learn how to trade the markets profitably even with your 8am - 4pm daily job.

The daily trading course runs from Sunday's evening to Friday's evening, 8pm - 10pm.

New Year Special…
Save 30% Off My Professional Trading Course & Daily Trade Setups.

Until January 31st, Save 30% Off Monthly Access To:
– Price Action Trading Mastery Course
– Daily Trade Setups Analysis
– Live Trade Setups Forum on WhatsApp
– Online Training & Coaching

Send "Fx Trading Course" with your WhatsApp number to 08177094389 (WhatsApp SMS only, pls).

The 3 Core Principles to Improve Your Trading

Simplicity is best in just about anything, but as humans making things complex is what we do best. Forex trading is no different either. What could be simpler than buying low and selling high? Instead, what we have are tons of indicators, complex variables, all in an effort do the simple thing, buying low selling high. It is easy to get lost in the complexity that at times we miss the most obvious.

Here’s a thought: On trading forums, we often find traders writing and explaining their trading strategy. But, despite all the information they share, isn’t it strange that nearly half the traders or more who follow the strategy still end up losing money?

Some of the common reasons we find, that seems to justify why traders fail to make money with a strategy that is successful for one trader is because:

1. The trading strategy no longer works because the markets have changed

2. The trading strategy works only at a certain time and only for a certain instrument

The real reason is in fact:

1. You haven’t spent much time analyzing the strategy

2. You haven’t practiced the strategy enough

Sure, there can be instances where the trading strategy presented does indeed require more improvements, but broadly speaking, even the most successful strategies outline do not stick well with most traders.

So how can you, as a trader improve your trading, regardless of how simple or complex your strategy may be?

Observe - Observation is a great tool

You can tell a lot about what is happening in the markets by simply observing the markets. No trading, but just eyeballing the charts using the strategy rules and indicators. Observation can be a great tool but one that is seldom used. For a trader, the best place to start is to load their strategy templates and simply sit back and observe. Most importantly, looking at the price charts and taking notes on what price could do, based on your strategy rules can be a great way to look back to your notes and figure out what happened in the markets.

If moving average crossovers are your forte, then instead of trying to build an EA or scalping the markets, take a few days and simply watch the charts. You don’t need to sit in front of your charts all day long, but simply make notes on what you think the price will do. The minor details such as pull backs in the trend, the price targets, and invalidation levels can greatly help to improve your trading odds.

This seemingly boring job can actually do wonders for your trading. A conscious effort made to put this into practice will automatically tune your mind to watch for potential opportunities as well as warning signs when you are actually trading.

Practice - Practice makes you perfect

And this couldn’t be further from the truth in trading. By practice, we are not talking about a ‘demo trading account’ where you blindly buy and sell based on the strategy rules.

Practice is, in fact, the next step in your trading journey. Based on the information that you gathered by observing the charts and putting this knowledge into practice can help you to form a habit.

Practicing your trading strategy over and over again can be a great way to improve your trading skills. More importantly, this repetitive process will also help you to identify some minor yet important details that price can offer you. These minor details are what can be the differing variable between a winning and a losing trade.

Challenge yourself - Once you stop learning, you start dying

Or in the trading context, once you stop learning your strategy starts to fall apart.

So far, you have observed the markets, and you have started practicing. But that is not the end. The real game changer comes in this next part which is to challenge yourself. But how does one go about doing this?

There are many forums, websites, and resources nowadays with many traders/bloggers posting their own charts. The first step is to find a trader who uses the same strategy such as yours. It could be a simple moving average crossover or a Bollinger Band strategy. The point is, once you narrow down to a few traders who keep updating their charts and writing their analysis, you can then use these very charts, figure out how price action unfolded and then challenge yourself as to whether you would have taken that trade or if you would have done it differently.

Nowadays, most traders end up arguing on whose analysis is right. An argument doesn’t increase your trading capital at the end of the day. Learning does!

So instead of arguing with a trader, who thinks the price is going to move in their favor, take a step back, wait for the price to evolve, then look back at those charts and determine if the trader was right or wrong. If he was right, try to understand how the trade worked out. If he was wrong, figure out why he was wrong and if you could have done things differently.


Join me tonight on WhatsApp as we analyse and trade the market together. See my contact below and join free.

Currency pairs analysed and possible trade set ups for the week as posted on the group.
Some are already in good profit while one is just rolling out. Check it out

Fx4Pay:
Currency pairs analysed and possible trade set ups for the week as posted on the group.
Some are already in good profit while one is just rolling out. Check it out

what a great week!
EU and NJ moved in the expected direction as analysed in the WhatsApp group and in the pics above, delivering about 80 and 60 pips respectively as at the time of theis post.

We can now safely exit the market with good profit now or allow our profit to run towards the targeted price level which can be achieved possibly early next week.

Still expecting EG to move downwards as analysed, possibly next week as well.

Forex is simple if done correctly but don't make the mistake of thinking that its easy!

Enjoy your weekend!

For more info and further enquiry how to successfully trade the currency market, contact me here.

Cc.

Kaesyrn