PIPnator:
Mehn! See as people dey show closed trades and im here agonising about profits lost.
GBPJPY trade from over 170pips reduced to 34pips because I was waiting for just another 85pips to my TP.
CADJPY 94pips reduced to 38pips
CADCHF 73pips reduced to 22pips
And the worst Im still having a lose on my book from last week im trying to recover.
Now that im able to get some good trade to recover some of my loses, I failed to TP!

Ps.. If you are reading, its just me ranting and journaling my experience with trading. Best ignore!
Plus im posting GJ chart, if the area highlighted in blue doesnt break, the sell in still valid.

redsox11:


Well since you are trading on higher time frame , that should be expected, your pips swinging from -ve to +ve, from +ve to -ve until your stop loss or take profit is hit.

I kinda know but I think this time, it got to me because I still have some L on my book im yet to recover.
Also, thats the reason I tried to come down to lower time frames to avoid such.

It's something you have to get used to and you can also apply taking your profit off the table if the trade is no longer viable.

I just should have taken some TP but that +85pip would have given a round number to me account..lol.
I traded the weekly, my feeling was that since the previous weeks candle closed bearish, this weeks will swing further to close bearish.
I had my bed time (im on a different time zone), notice the change when i got up. Else should have closed some.

What I do sometimes "for sell" is wait and see green candle closing above a red candle, then I close the trade "That would be 2nd green candle that closes above the red down candle on your GJ trade".

If you can, make a pictorial chart to explain what you meant here.
Couldnt get it accurately.

Tunderr:
Hi guys, I'm still kicking it and thanks for all the mentions. You are all far too kind.

I trade little less aggressive now as I've got more balance. I also have been using BB to time my entry to get better and good entry point, less draw down.

Some of my entries have been almost pin point, I suffer less draw down overall BUT still working on riding my profit as I still close my profit way too early 85% of the time.

AwesomeDuru:
She's back! Welcome Where have you been since?! You Pros shouldn't up and leave the thread na, we are learning a lot from it
BTW, what's BB


CC: Currentprice
You didn't update us on your last Oil trade. I have been waiting for the chart

Tunderr:
Quick 17% (Not bad for 5 trading days) ROI on demo account as I don’t want to trade my live account during Christmas/New year week.

My oh my, those days that I can’t even get +5% /month, MORE LIKE -30%, -45%, -15%, -10% / month.

Feels so good to have this ability now. Although I’m still learning, still improving, still growing.

So don't give up yet, but work it out on demo, not live account.
You've got to be profitable on demo before moving to live trading.

teemy:

Bollinger Bands

mhisbliss:
Do you trade on phone? I don't understand metatrader at all, i have been using olymphtrade demo mode and i intend funding next month, i don't think I'm ready.

Tunderr:
Hi guys, I'm still kicking it and thanks for all the mentions. You are all far too kind.

I trade little less aggressive now as I've got more balance. I also have been using BB to time my entry to get better and good entry point, less draw down.

Some of my entries have been almost pin point, I suffer less draw down overall BUT still working on riding my profit as I still close my profit way too early 85% of the time.

AwesomeDuru:
You're 'betting on markets' (Binary Options) not trading Forex. I would advise you go over to babypips.com and take your time there to learn. They will even teach you how to use the MetaTrader platform. When you're done with the school there, start playing around with demo. Sooner or later you'll figure something that works for you.

AwesomeDuru:
You're 'betting on markets' (Binary Options) not trading Forex. I would advise you go over to babypips.com and take your time there to learn. They will even teach you how to use the MetaTrader platform. When you're done with the school there, start playing around with demo. Sooner or later you'll figure something that works for you.

mhisbliss:
Finished babypips binary class, and thats where i read binary is better and easier, so forex is better?

alphaNomega:


Babypips has binary now? Mehn it's been ages I went through the school

seyiade26:


Interesting �. So as a semi-noob have you found what works for you?

How could you use the word 'sooner'? I know how long most of us been trying and it is on record how many ever make it...

mhisbliss:
People like you love discouraging people, how is this post of yours going to help now? Should we abandon it? Should we stop trying? What exactly are you saying @ bolded and whats your alternative?

seyiade26:


Sorry I don't love discouraging anyone and I am not trying to. I just don't like how he keeps referring people to babypips like it was a magic place for great solutions for forex. Yes thy teach a lot there but they don't really give you anything remotely close to trading edge for a long journey in forex.

I think the best route to success is access to people who really know the market.
Trying to figure things out yourself using babypips education and and even lots more you get in the retail space. I think It is not a joke. Or maybe I am not as smart as I thought or I am too greedy... �

Tunderr:
Fantastic results. You're killing it, when are you going to let us in your secret weapon.




Great job , I see you've got some investors already.


You have to teach us how you read price chart so well.

seyiade26:


Sorry I don't love discouraging anyone and I am not trying to. I just don't like how he keeps referring people to babypips like it was a magic place for great solutions for forex. Yes thy teach a lot there but they don't really give you anything remotely close to trading edge for a long journey in forex.

I think the best route to success is access to people who really know the market.
Trying to figure things out yourself using babypips education and and even lots more you get in the retail space. I think It is not a joke. Or maybe I am not as smart as I thought or I am too greedy... �

mhisbliss:
Finished babypips binary class, and thats where i read binary is better and easier, so forex is better?

seyiade26:


And my sincere apologies to AwesomeDuru and anyone potentially offended by my first outburst. That could be emotion after already losing money to people who don't even need it...

I wish everyone a pipfull week

AwesomeDuru:
No offence taken at all. I'm learning and would be doing myself a disservice by getting into a kerfuffle with anyone on here.

But to answer your question though, yes I have found what works for me. When you stare at charts for far too long you'll begin to put two and two together and the whole great puzzle starts to piece itself together.

4 weeks ago I was reading a book on Price Action by Al Brooks, I wasn't really reading the contents, but I was looking at the numerous charts in his book and that was when the light bulb clicked on. I started seeing a pattern that was consistent, one I hadn't taken note of before. I thought it was just the charts he chose to post that had that pattern so I went over to my MT5 and back tested on different currencies and it was the same.

I have been trading this strategy since then, no indicators whatsoever, just naked charts, fine tuning my entries wherever necessary. I only draw support and resistance to determine where to take profit and ensure I'm not jumping into a thread that has hit top or bottom.

4 months demo trading, and I'm already on my second $100 capital. I got the first one to $200 and then started a new one on Monday last week (picture attached). I will do this three more times before going live. I don't care how long it'll take - 6 months, 2 years, - however long it takes, I'll wait it out and then I'll go live. Because I have often heard it said that Live trading is a totally different ball game from demo so I wouldn't think of it much if I eventually blow my account on my first try. I have found that most people who go live don't even have enough knowledge of what they are doing and when they eventually blow their accounts, you see them groaning everywhere on ForexForums.

Let's keep learning and grinding, there is no one who knows it all in Forex, all we have are people who have learnt with experience.

AwesomeDuru:
No offence taken at all. I'm learning and would be doing myself a disservice by getting into a kerfuffle with anyone on here.

But to answer your question though, yes I have found what works for me. When you stare at charts for far too long you'll begin to put two and two together and the whole great puzzle starts to piece itself together.

4 weeks ago I was reading a book on Price Action by Al Brooks, I wasn't really reading the contents, but I was looking at the numerous charts in his book and that was when the light bulb clicked on. I started seeing a pattern that was consistent, one I hadn't taken note of before. I thought it was just the charts he chose to post that had that pattern so I went over to my MT5 and back tested on different currencies and it was the same.

I have been trading this strategy since then, no indicators whatsoever, just naked charts, fine tuning my entries wherever necessary. I only draw support and resistance to determine where to take profit and ensure I'm not jumping into a thread that has hit top or bottom.

4 months demo trading, and I'm already on my second $100 capital. I got the first one to $200 and then started a new one on Monday last week (picture attached). I will do this three more times before going live. I don't care how long it'll take - 6 months, 2 years, - however long it takes, I'll wait it out and then I'll go live. Because I have often heard it said that Live trading is a totally different ball game from demo so I wouldn't think of it much if I eventually blow my account on my first try. I have found that most people who go live don't even have enough knowledge of what they are doing and when they eventually blow their accounts, you see them groaning everywhere on ForexForums.

Let's keep learning and grinding, there is no one who knows it all in Forex, all we have are people who have learnt with experience.

AwesomeDuru:
So sorry I couldn't reply all through yesterday, my network was misbehaving.

Binary is easier but personally, I wouldn't say it's better. Most binary brokers manipulate charts to put you in a losing position and there are lots of other Brokers' scams related to Binary. That's what scares me away from it.

Take your time to learn how to trade Forex. Your earning potential on a single trade in Forex is always way higher than what you would earn in Binary. When you're done learning, move over to Forexfactory and start trying out some of the trading systems they have there. You might find one that works for you. It's not easy, but with enough dedication on your path, you'll get there. And then you'll smile when you become profitable.

BullBearMkt:

...I like that. Keep it up!

mhisbliss:
Thanks alot for this.