GamblerPro

EU [M5]

Short entry

Closure may occur if price drives above the DO line.

Masterrmind.............

EU

BE (nice momentum so went to BE only to see price pop up and take me out.)

Next !

ps. Check out that setup though ... textbook !

Masterrmind............

Missed run to the downside but it happens on the back of using tight stops so you have to wear it and simply move onto the next setup.

Masterrmind..............

UJ [M5]

Trade it or sit on the sidelines ? Whats the call ?

Masterrmind.............

EU [M5]

Masterrmind............

EN [M5]

Masterrmind............

Notice the increased volatility ?

Here's why

Trading 101 ... but you would be surprised to know how many traders neglect the awareness of upcoming high impact news and they get caught out.

Trading high relative lot sizes means the trader needs to be on their game with both eyes wide open !

Masterrmind............

Now we simply wait a little while for the dust to settle and look for setups to trade.

15-30 minutes after news breaks is generally long enough.

Masterrmind.............

GU [M5]

Masterrmind............

My preference may well be to get into the long side after a nice pullback rather than attempting a short lets say back to the DO line.

Always assess the initial risk reward on any potential trade especially after price has moved abit as it may become non-favorable.

Masterrmind............

EA [M5]

Masterrmind..............

UJ [M5]

How about shorting this pair at the current level ?

Careful !

Masterrmind.............

UJ [M5]

Masterrmind..............

Price pushed up just above the DO line and then put in a lovely M5 rotation candle.

Might be a few pips in it but monitor it closely for signs of a move back up again.

That's all from me today.

I'll be back again tomorrow.

Masterrmind............

Time to make a few trades.

What have the majors been up too ?

Check the upcoming news releases for later today.

Any trader have a preference for a certain pair to trade today ?

Masterrmind..............

Pairs on my radar.

EURJPY
EURUSD
GBPJPY
GBPNZD
GBPUSD
USDJPY

Masterrmind.............

EURNZD [M5]

Now short.

Masterrmind............

EN

+0.2%

Masterrmind.............

I will be trading throughout today in all of the sessions seeking out reasonable setups.

2 by 5K live accounts will be traded through to the end of the month both of which are currently connected to TE's.

Then starting from Monday July 1 I will trade 1 by 10K account and push it hard !

Good trading,

Masterrmind..............

Asian session

1. Slower PA
2. Smaller targets in general
3. Higher spread can occur
4. M1 TF may make reading the PA a little easier
5. Smaller ranges are typical and likely that price will not usually run too far, pullbacks to the DO line often occur after a 20-30 pip move.
6. Larger volumes can be traded.

Trading volume tactic might include trading Entry 1 with 1 lot then adding to the next Entry on the back of a winning outcome.

For example on a 5K account,

Entry 1 @ 1.0 Lot ... Winner
Entry 2 @ 1.5 Lot ... Winner
Entry 3 @ 2.0 Lot ... Winner
Entry 4 @ 2.5 Lot ... Winner
Entry 5 @ 3.0 Lot ... Winner
Entry 6 @ 3.5 Lot ... Winner
Entry 7 @ 4.0 Lot ... Winner
Entry 8 @ 4.5 Lot ... Winner
Entry 9 @ 5.0 Lot ... Winner

A losing trade returns trading volume back to 1 Lot and the process repeats with 0.5 lots being added to the next trade after a winner occurs.

Different Equity levels (lower or higher) require an adjustment to these trading volumes that I have included here.

3 losses in a row = think about ceasing trading for that session or perhaps the entire day !

Max lots @ Equity/1000 eg $5000 would max out at 5000/1000 = 5 Lots (Do not trade higher than Max volume).

Leverage provided on the trading account will impact total tradable volume.

My accounts are provided with 500:1 leverage and use as little or as much of this as the situation requires.

Typically, in the earlier stages of account building I like to take it reasonably easy and slowly and carefully buildup a profit buffer.

The profit buffer will allow for some losses later on without dropping my Equity level much below the invested capital I have put in but it depends on how much profit buffer has been accumulated as opposed to how big the eventual loss will be.

If anything in 'High Risk' trading it is wise to have larger targets (but always have a target) and very tight stops.

Masterrmind.............