Hi guys i would like to share with u all some of my forex insights and techniques through this journal. The purpose of this thread is to record my performance using this technique and enhance my dicipline by having interaction with all fellow forex traders in FF regarding the techique. Its a simple technique but if used wisely, it can create opportunities as well. Just like any other techniques. It includes strict MM & psychology.
I hope to interact with all forex traders here and any comments and discussions are welcomed.
Technical Analysis:
- Using 10, 20, 50, 200 EMA.
- For bull markets, EMA should be align/ ascending accordingly. (there are some exceptions)
- For bear markets EMA shud be in decending order (opposite of bull)
- 30 mins & 1 hour chart.
Entry:
- On the 10 day EMA.
Profit target:
- 32 pips per trade
MM:
- 3% of capital
Remember this technique if used wisely, it can generate up to 100% return per month, but it still depends per forex traders time as well, 'nothing is effortless'. I don't randomly use stop/losses or incur high risk. Just a mere 3%.
My main instrument will be Eur/Usd. the other supplement will be Gold market.
Psychology
- Time is your friend if you want to trade forex succesfully, the more effort u put in, the more u will get out of the market and find 'first-hand' opportunities. It takes time to get there. So i emphasise trading time will be an important element in trading psychology, my trading time will be on 7am - 9pm Eastern Time, depending on certain days where im busy. =)
- The other element to take consideration is, not all trade setups are tradable, there are certain conditions we need analyse before entering a trade, which ones are qualified and which are not i will discuss it when there is a setup occurs.
I hope you guys enjoy your stay here, hope u get some ideas and Happy Trading! Bring prosper to you and your loved ones. =)
DISCLAIMER: Forex trading is high risk and you should only use capital that you can effort to invest. This thread is NOT a trading signal and is intend to use mostly for discussion purposes & the creator's own use. Do not intend to trade without an idea of what you are doing. The idea of the creator is his own and not an advice to others to enter a trade.
I hope to interact with all forex traders here and any comments and discussions are welcomed.
Technical Analysis:
- Using 10, 20, 50, 200 EMA.
- For bull markets, EMA should be align/ ascending accordingly. (there are some exceptions)
- For bear markets EMA shud be in decending order (opposite of bull)
- 30 mins & 1 hour chart.
Entry:
- On the 10 day EMA.
Profit target:
- 32 pips per trade
MM:
- 3% of capital
Remember this technique if used wisely, it can generate up to 100% return per month, but it still depends per forex traders time as well, 'nothing is effortless'. I don't randomly use stop/losses or incur high risk. Just a mere 3%.
My main instrument will be Eur/Usd. the other supplement will be Gold market.
Psychology
- Time is your friend if you want to trade forex succesfully, the more effort u put in, the more u will get out of the market and find 'first-hand' opportunities. It takes time to get there. So i emphasise trading time will be an important element in trading psychology, my trading time will be on 7am - 9pm Eastern Time, depending on certain days where im busy. =)
- The other element to take consideration is, not all trade setups are tradable, there are certain conditions we need analyse before entering a trade, which ones are qualified and which are not i will discuss it when there is a setup occurs.
I hope you guys enjoy your stay here, hope u get some ideas and Happy Trading! Bring prosper to you and your loved ones. =)
DISCLAIMER: Forex trading is high risk and you should only use capital that you can effort to invest. This thread is NOT a trading signal and is intend to use mostly for discussion purposes & the creator's own use. Do not intend to trade without an idea of what you are doing. The idea of the creator is his own and not an advice to others to enter a trade.