Simply TRADE TO MAKE MONEY! easier done than said

This thread all about making money from trading activity, simple technical methods will be applied. This methods will include the uses of schochastics, fibonacci, trend lines, median lines, channels etc.

Kindly feel free to post your trades but always post with charts, I for one would be posting my live trades here for interested parties to view and if possible share or learn a thing or two.

I will be posting some basic set-ups in my first few posts so newbies and experienced traders alike can get an insight into my analysis and trading methods, constructive criticism is welcomed here and anybody with any thing else in mind should go somewhere else as the focus of this thread will be as the title suggests - Simply Trade to Make money! and as we progress we will know if its truly easier DONE than SAID!!!

Okay, to kick start I let you in on some of my starting analysis which begins anytime during the weekend to see what the market has done previously and plan the next anticipated moves but I hadly take any trade until after London open on Mondays or sometimes later. To be honest, the simple way to make money from Forex is to let the trade come to you, this is absolutely better than going after trades in terms of money-wise.

Here we go, enjoy!

The Euro: Anticipating a move down towards the 1.24xx area, where we are likely to encounter bull resistance, the strength of the resistance will determine if we will witness an upthrust toward the top shaded area on the chart, most likely a bullish pin bar will signify the arrival and subsequent bullish intent from the zone( pin bar may appear in lower timeframe), the bottom shaded area marks the aforementioned bull position. If this area breaks an update of sentiments will be provided. Trade setup and entries will be posted on Monday.

This chart below is my previous chart I was working with starting this trading week and it is still valid and all has gone according to plan. This is just for your perusal as it is past chart but before anybody starts with that, it was posted somewhere with verifiable time-stamp, nonetheless future charts will justify if technical analysis on this thread corresponds with the TITLE. I personally believe time will do good justice to that.

The story of the chart below=


Euro Outlook
The euro looks set for decline which I am regarding as a correction or a retracement as the point, more evaluation will be carried out as we go along especially around the shaded areas on chart. I would say even if we see an upside move from here, a top should be capped just below or around the 1.3488 resistance zone(just below the 1.3500 level).

By the 31st December 2012, during the London session, it would become clear on what direction price will go first, on the downside 1.3108 will be first target, we might see 1.2836 as second target, and theis downside should bottom around the lows of 1.24xx, when shorts should be covered albeit a downward extension could seen maybe down to 1.22xx, but at that point caution should be taken but nevertheless the movement of price will give more insight before hand.

Consequently, for this bearish scenario to come into actual play a decisive break below 1.3078 should be seen, that is after achieving the first target as above.

(copied from my blog - posted on Sunday 30 December 2012)

A move DOWN to 1.34xx area ????
It's at 1.3067 at the moment.

Thanks for pointing out the typo, I have corrected the mistakes. Warm welcome to the thread, will do utmost to proof read my posts before publishing. thanks once again.

I know that your Trade Explorer is only a demo account, I really hope that you wouldn't trade like this with your real cash on the line.
You seemed to be risking about 10% of account on your earlier trades and that appeared to be too high to me.
But to lose 65% of the account with 1 trade is really reckless.
Trading on a demo account can be really useful for honing your strategy, but only if you really try to trade it as you would with real money.

For the last couple of weeks I follow Forex analysis using MLs at myforexview and this looks really good. Any advice?