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Quoting Bluesky8635
GBPUSD TRADE - 20171229 #1 - Analysis 1) BOSS {image} a. 20EMA above 50EMA 2)WORKER {image} a. 20EMA above 50EMA b. BUEB #2 - PLAN a. Pend buy stop above higher BUEB b. Risk=1% c. [email protected], [email protected], RR=1:1
great tp！
Quoting chnp
{quote} great tp！
Thanks mate. Have a good new year!
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
"Consistent losers do almost anything to avoid accepting the reality that, no matter how good a trade looks, it could lose. Without the presence of an external structure forcing the typical trader to think otherwise, he is susceptible to any number of justifications, rationalizations, and the kind of distorted logic that will allow him to get into a trade believing that it can't lose, which makes determining the risk in advance irrelevant." --#Post 156
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
BELIEF

At the first day of new year I write down my BELIEF.

"I am a professional trader. My job is to take risk. If I manage my losses and let my profits run I will be successful. Because I am a professional trader, I will forgive myself easily for making mistakes and move on to new opportunities. I feel great that I have the discipline to control my emotions and the patience required to be a professional trader. I am a professional trader and will make $1,000,000 by year end. I will achieve this by following my trading plan, setting achievable goals, and controlling my emotions. I am confident and believe in my own ability to be consistently profitable because I AM a professional trader."
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
Learn Quotations Daily

1- Cutting your losses. It's part of my plan and is controlled by my SL. I have already accepted the loss BEFORE I enter the trade. IF YOU ARE WRONG, --GET OUT!
2- Drop down to a $/pip level that is comfortable for you to accept WHEN YOU LOSE. The trick is to base it on LOSING, and NOT WINNING.
3- You must TRAIN yourself to identify candles and patterns - your brain is way better than any computer and it's software.
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
EURAUD Trade - 20180106

1. Weekly
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Weekly - 2018W01.png Size: 44 KB

what Weekly Chart telling us?
(i) Swing High was confirmed, so it was top at that point.
(ii) BEEB (also closed below MA), the IMMEDIATE TREND was down trend.

2. Daily
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDDaily - 20180106.png Size: 62 KB

It was more foolish to have a buy enter. not UNDERSTAND the PA-SR-TREND.

3. Plan
(i) Pend Sell Stop order @1.5280 below the low of the candle 2018.1.5
(ii) [email protected], [email protected], R:R=1:1
(iii) Risk=1%
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
  • Post #27
  • Quote
  • Edited Jan 6, 2018 3:13am Jan 5, 2018 9:47pm | Edited Jan 6, 2018 3:13am
AUDNZD Trade - 20180106

1. Weekly Chart
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD Weekly - 2018W01.png Size: 48 KB

what the weekly chart is telling us?
(i) Swing High @1.1290, Swing Low @1.0860.
(ii) the IMMEDIATE TREND is down trend.
(iii) BEOB last week candle, it looks like will re-test the Swing Low?

2. Daily Chart
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD Daily - 20180106.png Size: 54 KB

because the last 2nd week candle is BEEB, so I entry buy order. but the price didn't move up more.
the next week I will exit the buy order and look for opportunity to short.
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
EURGBP Trade - 20180106

1. Weekly
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Weekly - 2018W01-1.png Size: 44 KB


2. Daily
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Daily - 20180106.png Size: 44 KB
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
Learn Quotations Daily
- I really don't even think about pips so to speak. I just manage my trades according to what I believe is the best game plan. I have a eur/jpy open for some 200+ pips and a nzd/jpy for around 100. I only even know that because you asked me so I took a peak. Instead I manage each and every trade based on the situation and the approach I feel is best. I take what the market offers. Sometimes that is a loss/small loss / small win / large win. #Post 656
- When you go looking for opportunities, ALWAYS start with the BOSS. Look at what it is telling you. Then knowing that, move over to it's slave - the Daily and look at what that is telling you.
- The North bound train can't go anywhere but North until it STOPS in the station, gets on the turntable and turns around to go South.
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
WHEN you can read price action like a book the S/R levels jump out at you just like the price bars do.... #Post 733
Attached Image (click to enlarge)
Click to Enlarge Name: crap.gif Size: 10 KB

Price Action bars difine the S/R levels.
1.Take your price action bar.
2.Look for other P.A bars around "your bar"
3.Pop in lines at the previous P.A. bars around "your bars".
4.Cross check the boss and monthly P.A and its S/R
5.Find the stalling pionts from the previous P.A bars and their S/R
6.Get your management process sorted in your head
7.Allocate risk in accordance with your yeild curve
8.Lock and load
If you cant read Price action down screens and do nothing else but learn how to.It takes as long as it take.
I am convinced 100% no price action understanding no S/R understanding.and so and so and so.....g
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
The Holy Grail
"Go and stand in front of a mirror and you will see The Holy Grail staring back at you!"
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
Learn Quotations Daily

- There is more to life than making money off dancing price bars and, Balance in our lives is so important.
- my SL ALWAYS goes below the low; it's not conservative, it's just a fact of Price Action. I would NEVER, EVER ignore a nearby S & R level. If the low is slightly above support then the SL goes below the support. If there is a psycho number nearby, then it would go below that.
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
  • Post #33
  • Quote
  • Edited 11:33pm Jan 13, 2018 11:09pm | Edited 11:33pm
GBPCAD - 20180114

1. Weekly
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD Weekly - 2018W2.png Size: 47 KB

What is weekly chart telling us?
(i) BUEB, trend is changed.

2. Daily
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD Daily - 20180114.png Size: 54 KB

because last week candle is down, so I amnot entry @1.7000

3. Plan
the next week I will look for opportunity to BUY when the price RE-TEST 1.7000.
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
GBPAUD - 20180114

1. Weekly
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD Weekly - 2018W02.png Size: 46 KB


2. Daily
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD Daily - 20180114.png Size: 40 KB


3. Plan
Will RE-TEST 1.7220 to give the second opportunity for entry?
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
AUDCAD - 20180114

1. Weekly
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD Weekly - 2018W02.png Size: 43 KB


2. Daily
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD Daily - 20180114.png Size: 52 KB


3. Plan
Will RE-TEST 0.9800? waiting to look for good RR.
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
Quoting Bluesky8635
EURAUD Trade - 20180106 1. Weekly {image} what Weekly Chart telling us? (i) Swing High was confirmed, so it was top at that point. (ii) BEEB (also closed below MA), the IMMEDIATE TREND was down trend. 2. Daily {image} It was more foolish to have a buy enter. not UNDERSTAND the PA-SR-TREND. 3. Plan (i) Pend Sell Stop order @1.5280 below the low of the candle 2018.1.5 (ii) [email protected], [email protected], R:R=1:1 (iii) Risk=1%
Stick to your PLAN.

EURCAD Trade - 20180106

1- Weekly
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD Weekly - 2018W02.png Size: 50 KB


2- Daily
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD Daily - 20180106.png Size: 68 KB


3- Learn from my MISTAKE
(i) Stick to the PLAN, and you will overcome the FEAR.
(ii) ALWAYS check the SL.
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
Quoting Bluesky8635
{quote} Stick to your PLAN. EURCAD Trade - 20180106 1- Weekly {image} 2- Daily {image} 3- Learn from my MISTAKE (i) Stick to the PLAN, and you will overcome the FEAR. (ii) ALWAYS check the SL.

i like your analysis, but i woud like to know how long is that strategy profitable?
Quoting afgan84
{quote} i like your analysis, but i woud like to know how long is that strategy profitable?
Sorry my friend. I am developing my strategy and cannot give you the answer.

You maybe start from here https://www.forexfactory.com/showthread.php?t=155459

Good luck!
Keep DISCIPLINE, control RISKS, and don't destroy your DREAM easily.
Quoting Bluesky8635
{quote} Sorry my friend. I am developing my strategy and cannot give you the answer. You maybe start from here https://www.forexfactory.com/showthread.php?t=155459 Good luck!
actually i'm reading PASR ,
Thank you, and good luck for you too!
Looking forward to you new plan, mate
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