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Business › Re: Forex Trade Alerts Season 17 by redsox11: 12:11am On Oct 22, 2017

Gfeuxay:
Hi i'm new to forex and i have been trying to learn online but its been a bit challenging. I am hoping to find someone to teach me,cos i learn really fast.please send me a pm,thanks

I created another thread and put all the info in there, something to start with and get a feel for the market.

teemy:
EN - Short

Entry - 1.6907

Keep it coming Bro, great job.
Others should contribute too, there's love in sharing))

1 Like 1 Share

Business › Re: Forex Trade Alerts Season 17 by redsox11: 1:33pm On Oct 20, 2017

drisi:
You did not post when you entered...

I do sometimes, sometimes I got in with pending, I prefer market order though.

I like entering trades after hourly bar or 4hrs bar just closed. This help you get in more precise and avoid some noises, I don't know how to explain it but from experience.

If you trade lower TF, drag your history to your chart and see what I mean. E.g , you enter a trade at 10:10 AM , you see market dances around till maybe new one hour bar or 4 hours bar opens, before the market really moves in one direction. My take is a lot people enter at the new hourly open.

I might sound incoherent but peeps with experience can relate.

Ps: A/Chf trade I was stalking but missed it as I was out.
Ps: I have overall direction I'm looking at, so I wait for 3 pushes(big enough retrace) before entering.
Ps: A GU chart shows red horizontal line, means if 3 pushes break through that, I will ignore the trade.

1 Like

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 12:14pm On Oct 20, 2017*

Structures + MA line

Note:
Page 1-2 : For newbies / new traders / fresher to learn about forex, market structure.
Page 2: Inside Bar pattern, Momentum breakout entry pattern.

Page 2: Exercise/ Self learning / Daily achievement of x3 20 pip take profit with no regards to any losses

Page 3: No more training, thread is now used as a journal where I post my rants and what not.

2 Likes

Business › Re: Forex Trade Alerts Season 17 by redsox11: 3:47am On Oct 20, 2017

E/U entry exactly to the pip, you got to love it when you pick it out like this.

SL was 11 pips, +43 pips now, I'm going to set to breakeven, hold out for more. I'll let market decide breakeven or more pips.

1 Like

Business › Re: Forex Trade Alerts Season 17 by redsox11: 6:15pm On Oct 19, 2017

Hope you guys catch some of the moves today. It's been little quiet here lately...

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 5:57pm On Oct 19, 2017

FILTER FILTER FILTER

When and what to trade and what to stay away from.

So say I'm looking for BUY entry, I want to see the market coming down for a while strongly and respecting the MA line.

- Say I'm looking for SELL entry, I want to see the market going up for a while strongly and respecting the MA line.

2 Likes

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 5:45pm On Oct 19, 2017

FILTER FILTER FILTER.

This will help you to avoid bad trades. Before you enter at all, look at this and use it to guide yourself. See that the market have been trending and moving in a good manner previously.

2 Likes 1 Share

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 5:16pm On Oct 19, 2017*

More entries examples.... i - You need to see price break/pierce deep through the MA Line.

ii - FOR SELL - As i occurs, see that the price also break through the last HL(Higher Low)
ii - FOR BUY - As i occurs, see that the price also break through the last LH(Lower High)

III - Price come back and bounce off MA Line.

2 Likes

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 4:37pm On Oct 19, 2017*

Some individual price pattern, name and explanation. For new people.

Ps: I can't get the PDF attached here, it's showing "nairaland error message " I'll try to attach it again later.

Ps: As I can't attached it, I hosted it, so download it from there...

https://www.pdf-archive.com/2017/10/19/5-pricepatterns-2008/
https://www.pdf-archive.com/2017/10/19/candlepatterns/

2 Likes

Business › Re: Forex Trade Alerts Season 17 by redsox11: 11:28pm On Oct 15, 2017

Rickrux0:
I have my eyes set on AudUsd for a potential sell this week. Trading on H1 and confirming 3candle sequence on D1. Price hasnt broken 24 sma, neither has sma began to turn yet. I just hope I don't skrew it up if the setup is complete. Also, I'm curious...will news alter our results with this trading system? Considering we trade high timeframes.

I don't care about news except Non Farm announcement, once a month. If you're trading 5mins TF, you should care about the news.

Good plan you've got. Now it's waiting game... For the set up to show up.

Ps: As you're on 1hr TF, you should ignore trade with large SL, look for set up with tight SL and be picky.
Pps: From the chart, I marked the previous buy. With daily big picture confirming it.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 6:54pm On Oct 15, 2017

Good luck guys. Happy weekend.

sconp:
@redsox11 could you create a thread for the tutorial pls?

https://www.nairaland.com/4111155/learn-forex-trading-absolutely-free
Same info , maybe add one or two things. Just putting everything together in one place.

2 Likes

Business › Re: Forex Trade Alerts Season 17 by redsox11: 6:51pm On Oct 15, 2017

This info right here, some people will pay to value it but what they actually pay for doesn't hold any water.

You can even trade on your phone as you don’t need no shining custom indicators to tell you what to do.

What else do you need huh? I’ll tell you, just put in some work/effort and that’s all.

Cheers.

PS: Willing to throw in some insight, how and where to enter with reduce risk, 1/3 - 1/4 of your regular SL.
Not now though You've got to show me you've put in some work.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 4:30pm On Oct 15, 2017

All you need to make money in this business, take it from me. You have to be patient, wait for the right set up. Don't get all emotional chasing the price around... Wait for it, it will come to you.

Do this for 2-3 month on 4hours chart, you'll be surprised. A lot of newbies don't get this info starting out (I didn't get it this easy when I started). They get a lot of garbage/nonsense from marketers that don't trade but just sell ebooks online.

If you go through all the charts I posted recently, study 'em and know them, I tell you, you are far ahead of a lot of people trading forex.

I tell you, even u go start to dey feel yourself like oga for this business.

Ps: I'll post 3 simple charts soon label A , B, and C.

2 Likes

Business › Re: Forex Trade Alerts Season 17 by redsox11: 4:17pm On Oct 15, 2017

Rickrux0:
thanks for the great job you are doing bro. Took two trades on Eurjpy and eurusd last week. Both ending in profit on the H1 timeframe. I was wondering however, what is the best way to make an entry? Through a buy/sell stop order or should one wait for the candle that broke the Support/resistance to close. I find this a challenge at times.

In the attached picture. At the break of support(red line) I am caught between placing an order a few pips below the support and the close of the breakout candle( blue line). If I place an order... In a short time I would have been in profits....however, if I entered at the close of breakout candle, not only would my entry be unfavorable, I'll also take a loss on the trade.

There are other situations I've seen in the charts where stop orders didn't do so well. Price simply fell pass the support, triggered the order and continued in the opposite direction, leaving only wicks or shadows. Just wanted to get ur take on this.

Great job bro. It's all about putting it to play, not just reading it online.

To answer your question, I'll enter after bar close. So that I don't enter into fake move. And if the bar closes with too much movement that will require big stop loss, then I'll wait, market in most times retrace back to where they broke out from.

Bigbasho plays it this way a lot. He waits to enter at the retrace from where the market broke out from.

1 Like

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 4:07pm On Oct 15, 2017

I'll continue with filter later.

5 Likes

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 4:03pm On Oct 15, 2017

Mini Recap;

1, We worked on market structure ( Higher Low HL, , High high HH, Lower High LH, Lower Low LL ) , To determine Up Trend or Down Trend

2, Combining market structure with the MA Line

Ps: With market structure, you should have a clue where the market is going. Check daily, move down to 4hours, you should see structure to determine/anticipate where the market is heading. If not, check another pair/currency.

Pps : One of the charts below shows entry and where to put stop loss, SL.

3 Likes 1 Share

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 3:44pm On Oct 15, 2017

After seeing 3 or more consecutive bars on bigger picture ( weekly chart)… You then check your 4hours chart for possible trade entry.

MARKET STRUCTURE + SMA Line.

FOR Buy ENTRY

1) You need to see price break deep through the MA Line.

2) As 1 occurs, see that the price also break through the last LH(Lower high)

3) Price come back down and bounce off MA Line before rising again.

2 Likes

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 3:40pm On Oct 15, 2017*

SMA30

After seeing 3 or more consecutive bars on bigger picture ( weekly chart)… You then check your 4hours chart for possible trade entry.

I’ll show you what to look for on 4hrs chart before you enter the market.

By combining our knowledge of MARKET STRUCTURE so far with SMA Line.

FOR SELL ENTRY

1) You need to see price break deep through the MA Line.

2) As 1 occurs, see that the price also break through the last HL(higher Low)

3) Price come back up and bounce off MA Line before falling down again.

3 Likes 1 Share

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 9:54am On Oct 14, 2017

3 or more candles on the weekly chart going in the same direction.
Another chart again.

3 Likes

Business › Re: Forex Trade Alerts Season 17 by redsox11: 9:11am On Oct 14, 2017

You cannot have 100% win rate in one day only to lose everything the next days.
You cannot have 100% win rate in one week only to lose everything in the next weeks.
You cannot have 100% win rate in one month only to lose everything in the next months.
You need a SMART objectives and a win rate which you can sustain over a longer term with CONSISTENCY.

2 Likes

Business › Re: Forex Trade Alerts Season 17 by redsox11: 11:04pm On Oct 13, 2017

G/Jpy Weekly bigger picture and next chart is after zooming into 4hours for the trade.
Would all be perfect like this one, of course not.

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 10:54pm On Oct 13, 2017

This is very important, the most important to help increase your success. You need to look for minimum of 3 consecutive bars going the same direction with continuous trend on the bigger picture (WEEKLY as bigger picture. That's where you're looking at for the overall direction of the market).

When you get very good at it, you can go as low as 4hours(for bigger picture) but now stick to weekly candle, 3 bars minimum.

Don’t forget this is to teach especially new people. Stable and reliable way to look and enter the market, it’s not some 15mins system for get rich quick.

You should look to trade this on 4hrs timeframe. This way you could trade and still have a life outside of trading and not stuck on your Laptop / PC all the time.

Ps: If you're using weekly as your big picture, then you zoom in to 4hours to pull the trigger.

2 Likes

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 10:51pm On Oct 13, 2017

Optimisticgondy:
Thanks Sir..clearly understood now

Good one man, you can always ask if something is not clear

2 Likes

Business › Re: Forex Trade Alerts Season 17 by redsox11: 10:30pm On Oct 13, 2017

U/Cad and U/Jpy both on 4 hours. There is a way to enter earlier or enter at the retrace, but now is not the time for that talk

Ps: I really need to proofread what I type, especially the text on charts and I'm too lazy to go back and edit 'em. Sorry guys.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 10:24pm On Oct 13, 2017

kunletoks:
What do you mean by distribution phase?

In one of your previous posts, you mentioned 3 consecutive candles either bull or bear. Should those consecutive candles be in the same direction of the MA?

Also it is rare to see 3 or 4 consecutive candles on higher timeframe. By the time such appears on a pair, the trend would have gone a long away.

Let's not talk about distribution and accumulation just yet.

When you look for 3 bars, it's on the bigger picture (So you don't need MA line), should be daily or weekly. If you use weekly, you are going to trade it on 4hours. If you use daily bigger picture, you will trade it on 1hr chart. 4hours is better and more stable, especially for new people.

I think what you are asking is, after 3 or more consecutive bars, you should aim to get opposite entry. E.g you have 3-5 buy/bull candles, you should be looking for sell, with the use of market structure + MA LINE.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 1:00pm On Oct 13, 2017

With little more experience. Anticipating

Business › Re: Forex Trade Alerts Season 17 by redsox11: 12:54pm On Oct 13, 2017

Uchf
Gchf

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 11:47am On Oct 13, 2017

That's all about Market Structure for now. Later we'll combine it with 1 MA Line to trade with.

2 Likes

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 11:41am On Oct 13, 2017

You should read some more about it online if you still don't understand.

3 Likes

Business › Re: Learn Forex Trading (absolutely Free) by redsox11(op): 11:35am On Oct 13, 2017

Market structure...

2 Likes

Business › Re: Forex Trade Alerts Season 17 by redsox11: 12:57pm On Oct 12, 2017

Maybe I should teach my intra-day method, usually not for new people, need some little experience to navigate it.
Aiming for anything btw 20-50 pips grin

People prefer intra-day, get in get out. Intra-day is less stable compare to long term trading.

Running trades.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 9:54am On Oct 12, 2017*

Put all the info together. First thing first, look at the big picture, look for consecutive bars first, then zoom in to investigate.

Don't forget your filters. I'll stop for a while to post my live trades here, I'll hope post about this method with demo entries.

Ps: Keep an eye on Aud/Chf for intra-day scalp

1 Like

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