Redsox11's Posts
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redsox11: redsox11: Closed out trades now. not good example, was hoping to get 3-4 trades in. Got only 2 trades. |
Started averaging on GJ, to show averaging, pending at the high with same SL. I've got a short right on now @ 130.33 , my SL is 30pips above today's high. |
From Pepperstone. holding weekend
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I'll start averaging in on GJ if price re-test today's high, around 130.69. SL 30pips. I'll short it around there. Trade averaging, say I'm prepare to risk 3%($100) on a trade, instead of entering one big lot size, I won't, I'll spread it out. That's the basic idea. You can act on it by using attacking sequence or recovery. Entering more trades when price is going in your favor (attack sequence) or against you. BUT FIRST, know what you're prepare to risk before averaging. currentprice:i don't think you'll need it tho no negative or positive.. waiting for the move first before starting out It's not a system but money management thingy sort of. |
The first goal for a trader has nothing to do with money and everything to do with being consistent. The first goal is to learn how to trade properly. This first goal can take months to years before it’s developed enough to use in a real account situation. One should separate him or herself from a road full of profits, instead the trader should focus on overall consistency. |
I'll show live example of using trade averaging. You can use it however you like , but i like to use it when i see a 150-200 pips strong move on GJ, GU and GA So if you see 150-200pips move on any of those pairs, let me know I'll run a live xamples how to get some pips outta the move. Stress free. |
Ooba: If you are sure of a trade direction but don't know where the market is going to turn... Then you should learn about TRADE AVERAGING. |
Ooba:I've got accounts in Global prime and Pepperstone. |
Nothing else to contribute here. All you need to be successful is in here. Gave out a lot of info that took years with a lot of roller coaster, mental anguish, pain and suffering to get. It's left for you to put the puzzle together, no spoon feeding. |
Trend trade and Counter trade for this month.
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My fav, counter trading.
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Trend trading. Heat map as a tool. |
Heat map. 1st @London 2nd @New York
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Ooba:My guess is GJ will go into range most likely as both currency is kinda weak. |
Counter-trade: If GA ever get to remove yesterday low, today. I'm going to get some easy pips on LONG trade. Waiting for MM to remove yesterday low patiently. Ps: Guys, again, don't set up / OPEN account with any how BROKER . Why the heck you want to deposit in bitcoins? find a legit broker, with good history, don't go setting up an account with a broker that just spring up with head office in Belize / Russia , even Nigeria. |
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redsox11:Didn't want to hold over the weekend.
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GA working it again today. Taking out the high of yesterday and all the stops stacked up there. |
currentprice:Na It was one time offer to alphaNomega as I see he's struggling ![]() He should go through babypip |
I’m loving this volatility.
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redsox11: redsox11:We got the same run again today. Entry with band. SL is 20 pips
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redsox11:Waiting for market maker to run the same pattern. Yesterday worked out perfectly as I thought.
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AUD is super weak, would be nice to see GA take out yesterday high for possible short entry (counter trend for quick 40-50pips). Banking on AUD gaining some strength. |
... Short year
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Adding this idea and tool to my arsenal improved my TREND trading accuracy to 80% without stress (it get you into the right market, a moving market, 1 way market), it also helps to know what market to hold on to for more profit. Today I shorted AJ @London open, as I know AUD is dead weak and JPY not doing bad. GBP gave hint of some strength but I ignored it as it's against my HOURLY trend direction. As I like my trend trading to be in hourly direction as intra-day trader...( Long term traders might look at 4hours or daily trend direction ) Ps: Attached image to give idea of what i'm talking about.
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AUD seems to be very weak across board right now, so is NZD. Anything against them in intra-day trend trading should work great. |
Think about it; Suppose we are trading EURUSD: We have identified a possible LONG trade in EURUSD with whatever method you are comfortable with - it does not matter. What you do is analyse all EUR/Bleep minor crosses. What does it tell you if you want to long EURUSD and EURGBP is short? GBP is stronger than EUR at the moment. BIG WARNING SIGN ON. You want to long a currency which is weaker than another at the moment? Think again. The next step here would be to check the USDX + GBPUSD. If USDX is short what it tells us is that EURUSD is being dragged up by USD weakness. We know that EUR is not the strongest currency (EURGBP down) at the moment so that USDX weakness must come from another USD cross. Since we know that GBP is stronger than EUR we take a look at GBPUSD. If GBPUSD is long that already tells us that GBPUSD would be a better option to long right now since we know USD is being shorted + GBP is stronger than EUR but both EURUSD + GBPUSD are going up. So essentially GBPUSD is super strong. |
I give as much as I take, whooped and whopping, Take and Give.
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Hope you guys are enjoying the weekend. Did anybody get the bands? and the settings? Need any help? |
Some Ppl here ask questions about going live, asking about forex platform. If you can't do minimum research about this, I can assure you, you will blow that account in a very short period of time. Forex trading is no joke. I blame all the greedy platforms allowing for 100$ deposit, that's why a lot of people are taking trading as a joke. As you can always fund your account again with another 100$. And that's what the platforms are counting on. Say you want to start a coffee shop or restaurant business, ain't you going to carry out some research before setting up the business? Why do you think Forex Trading is any different? 80% of entrepreneurs starting a business fail within the first 18 months. (Forbes) 50% of startups fail after operating for four years. (Statistic Brain) 66% of small businesses will fail within 10 years. (Tutsplus) 50% of small businesses fail after five years. (Small Business Trends) You say Forex is difficult , tell me which money making business is walk in the park. jamace:Thanks for helping others here Bro. shadow3:Have you got no value for your money? please find a good charity around you to support. How can you test what is proven to be scam? It's just mind boggling to me. |
2 trades and 2 winners. Journaling.
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