DislikedDollar looking like it wants to go higher from the 88.90 level. Macrotrend is still bearish, but intraday/short term TFs pointing to a shift in market structure. {image} {image}Ignored
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DislikedDollar looking like it wants to go higher from the 88.90 level. Macrotrend is still bearish, but intraday/short term TFs pointing to a shift in market structure. {image} {image}Ignored
DislikedNew trader here. Love the videos Wdays, great job explaining the concepts. Market Structure seems a little difficult to spot so can anyone tell me if I'm on the right track? See attached picture. Thanks. {image}Ignored
Disliked{quote} but we can make it rise again! The staff is pure Gold in here!Ignored
DislikedThe Dollar The dollar index is our barometer for risk, so to speak. Like I said, if the dollar is poised to rally, we are in a "Risk Off!" type of environment (pretty basic stuff). This should result in declines over EURUSD and GBPUSD. If the dollar is poised to decline, it's "Risk On!" and we can buy away euro & cable. What this means is that we will have to start our analysis on a dollar index chart. Not many platforms have that, I am using a demo account on a broker for nothing but the USDX charts. I am not sure if I am allowed to refer people...Ignored
DislikedLet's take usdcad, a setup from august 12th. Breaking up the trading day by time. All times are GMT+1 (CET), since that's what my broker uses. Midnight is when the new trade day starts on our platforms. Up until Frankfurt Open, I call that the Asian Session. During that time, price is steady - it just declined during the previous day, it retraced and is now consolidating in peace. We're cautious, so we don't rush in before we figure it out. We know we should expect a second bearish day, price will be going down. We...Ignored
And the list goes on and on. I'm not even going to go in on most of the problems “trading mentors/teachers/gurus” usually talk about (you should trade with the “smart money”; “you need to keep a journal”; “you need to have good Risk/Reward parameters”) . I think they really don't matter if you're completely new and looking to improve.
At the end of the day, trading is psychological. And once you know your way around the financial world, it's only then you can begin working on the aforementioned “pro” traders' advice. Otherwise it would mean nothing to you.
DislikedI fully agree with you, but I think everyone should go through that process and that takes time. it is a fight with yourself. and if you sustain long enough, the puzzle pieces slowly fall into place. but that can take years! learn to loose !!Ignored