FREE Trade Setups---Learn To Trade Like A Sniper
Hey fellow FF members, I'm making this thread to share some free trading tips with you. I'd like to help traders get the proper trading mindset. I'm not selling any signals here. I do offer a course on my website FOREXcellency.com , but everything you will see here will be educational & no charge.
I will attach some demo accounts with trades that I take using my proprietary strategies & method.
One thing most of us know as traders by now is that we need to be trading the right market. There are a ton of different currency pairs, commodities, stocks, stock indices, etc. We don't have to settle for the Euro, GBP, AUD, JPY, etc.
Many traders here trade mainly Forex, and I respect that. Forex is my specialty. Especially BIG, LONG TERM moves. And to be honest with you, that's what this business is really about. The guys who make the real money in Forex are not staring at a chart trying to figure out how to make their next 10 pips, trust me on that one.
The real Forex Elite are into the 1000+ pip moves. And not just taking the trade and walking away forever (they add to their winners with the houses money), although at first that is a VITAL move for success, especially for beginners. I advise setting your trade with your SL & TP's etc. and walking away. We only need to check our trades maybe 15-30 minutes a day. If someone is spending more than an hour a day on their trading, chances are they're making a lot of mistakes.
Losing trades are fine. Losing trades are part of this business. It's like rent in Forex or in the Financial Markets. Spreads, Commissions, Swaps, and above all..... LOSSES. Part of the business... No big deal....
IF THE LOSSES ARE CALCULATED & TOLERABLE AND NO LOSS EVER HURTS TOO MUCH....
We Maintain our edge.
But first we have to have an edge. We have to know what it is to have an edge before that.
I know it's possible to make money scalping this market. Don't get me wrong. I also know it's possible to make a ton of money intraday trading & I've done it myself. But the honest truth is the best way to turn the odds in your favor is to spend less time trading.
So anyways, the GBP and JPY are moving like crazy. FX is a great place to be right now if you're defining the proper price levels and calculating your risk so that it's completely tolerable & not an emotional stressful experience.
GBP/xxx is where I will be focusing a lot of my attention to.
As always.. Trade wisely & make sure no loss hurts you!!
Founder & Head Trader
Looking to buy dips in USD/JPY. 101 area should support long term but a dip back down to the lows is very possible.
I was very bearish on USD JPY since 120-125 region. Now I believe we are at/approaching a bottom.
With GBP hammering, it's no shocker I'm extremely bullish on GBP JPY long term at these mid 130 levels.
A setup from yesterday...... To ensure you don't miss setups like this follow me @.....
Stock twits www.stocktwits.com/forexcellency
Also I have my blog on my website that I post Setups and Weekly Market/Chart Analysis --- ALL FOR FREE!!!
Watching Dow Jones looking to sell 17460 level if we get it.
Hey guys, I've been entered in my Crude Oil short swing trade & long term trade. I have some bigger take profits on this trade as I am targeting the $40 area.
I've done my 15-30 minutes a day managing my trades and I look forward to spending less time on the markets & improving results.
GBP/xxx is strong as expected off the 1.32 Major Support Level.
More to come!
Always remember to make sure your risk is predefined in every trade you take. Even if we enter a trade without a stop loss, there's no avoiding a loss. It's best to make sure your stop loss is placed with every trade and your risk tolerance is completely understood.
As long as our losses never hurt us too badly, we live to see another day and continue trading.
Without properly defining your risk and knowing how much you can afford to lose on each trade, you will end up being a disastrous gambler.
This is a very serious business and you are guaranteed to blow your account if you're not on top of this.
So lesson of the day: Always use a stop loss. Make sure it's placed in an area that's unlikely to be hit & if it does get hit invalidates your trade setup. It's fine to take losses. It's way worse to procrastinate the losses & try to manage them.
As always.... Trade Wisely
Short term selling at 1.35 would be no surprise on GBP/USD. Extremely bullish long term will buy all dips.
Looking for new swing lows in U.S. market.
Recent up move a Dead Cat Bounce.
Read more here: http://www.forexcellency.com/#!tradesignals/apjop
Those who are patient and stick with their trading plan get the best risk:reward trades. Even as we take losses, as long as our capital is preserved and we define the correct levels, we'll be able to enter some very high probability trades with big risk:reward.
This Dow Jones trade would be a great example. Stops would clearly get placed above 18k, perhaps above the highs around 18200, and the target is below 17k... pretty good r:r.
Crude Oil is looking weak and that sell may take off today as well.
As always, Trade Wisely and have a great weekend !
Hey guys, just wanted to put in an update.
U.S. market (dow jones, nasdaq, etc.) has once again rejected important major levels... looking pretty weak and a big drop is possible soon.
Crude oil weakness has showed up and we have begun to drop....... $40 target still on.
16,600 target on Dow still on.
GBP/USD has crashed through 1.3.... we are at 1.2935 right now and I'd imagine a nice rally is coming soon..... too much uncertainty to be calling a bottom..... but we should see some good opportunities in buying GBP/xxx from here for a swing trade at the very least...
We'll see what happens, have a good one.
Just Published My Weekly Update On The Markets
Check it out here: http://www.forexcellency.com/tradesignals
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