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Stop searching for the 'Holy Grail', work on yourself!

  • #361
  • Jan 27, 2020 12:50pm Jan 27, 2020 12:50pm
Just sharing

Try this: A top-down analysis with a focus on price action and market structure will help you understand market internals better. It gives you better insight on what to expect, which you can then confirm with one or two indicators. But always wait for the market to show its hands before you act.

KP
Do your homework, follow the footprints of smart money
  • #362
  • Jan 28, 2020 5:34am Jan 28, 2020 5:34am
If you keep learning structure-based price action trading until you become its master, you will be on your way to enhancing efficiency and effectiveness in your trading; resulting in consistent trading success. Below is a video you may learn something from. As always, I have no financial interest in the presenter neither am I holding him up as a 'guru' to follow.

Trade safe.

KP

Inserted Video


Quoting KeenPips
Just sharing Try this: A top-down analysis with a focus on price action and market structure will help you understand market internals better. It gives you better insight on what to expect, which you can then confirm with one or two indicators. But always wait for the market to show its hands before you act. KP
Do your homework, follow the footprints of smart money
  • #363
  • Jan 30, 2020 5:54am Jan 30, 2020 5:54am
Just sharing

Take the time and put in the effort to test your trading strategies, then stick with the best two or three.

KP
Do your homework, follow the footprints of smart money
  • #364
  • Feb 2, 2020 8:40am Feb 2, 2020 8:40am
I agree that this cannot be permanently limited to one strategy or a pair of assets that will constantly generate income and revenue in any situation. Unfortunately or fortunately, this approach never works, because you must understand that the market is influenced by a huge number of factors and news, so the analysis of the situation with universal methods is very rare, and you must understand that only a constant search and study of the situation will bring you entry points to the market and, accordingly, the potential to earn. Actually, in spite of the fact that trading as a business has many common characteristics with other directions, this specificity, which consists in increased dynamics, can be considered the most dangerous and requiring attention.
  • #365
  • Feb 2, 2020 12:26pm Feb 2, 2020 12:26pm
Interestingly, mate, you don't need to worry about all the factors moving the markets. You don't need to know them. Master your charts, understand market behaviours, master structure-based price action trading.

Trade safe.

KP

Quoting Doomterror
I agree that this cannot be permanently limited to one strategy or a pair of assets that will constantly generate income and revenue in any situation. Unfortunately or fortunately, this approach never works, because you must understand that the market is influenced by a huge number of factors and news, so the analysis of the situation with universal methods is very rare, and you must understand that only a constant search and study of the situation will bring you entry points to the market and, accordingly, the potential to earn. Actually, in spite...
Do your homework, follow the footprints of smart money
  • #366
  • Feb 2, 2020 1:19pm Feb 2, 2020 1:19pm
'Show me the charts and I will tell you the news.' Bernard Baruch (Market Wizard)

Quoting KeenPips
Interestingly, mate, you don't need to worry about all the factors moving the markets. You don't need to know them. Master your charts, understand market behaviours, master structure-based price action trading. Trade safe. KP {quote}
Do your homework, follow the footprints of smart money
  • #367
  • Edited 2:54pm Feb 3, 2020 2:29pm | Edited 2:54pm
Just Sharing

Sometime ago, somebody on this forum accused me of plagiarizing a member of BabyPips forum, named TraptheMarket. The truth is that I am also a member of BabyPips forum but I use a different name from what I use here. My username on BabyPips is, you guess right, TraptheMarket.

One of the things I do during the first two days of the week is to review the weekly analyses I made on Sunday and see how the markets are behaving. As I rarely trade on Monday, I take a second look at my analyses, review the charts and make any necessary update or adjustments before positioning myself for any feasible setups on the daily or H4 time frame.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #368
  • Feb 20, 2020 3:16am Feb 20, 2020 3:16am
It's been a while since I last posted on this thread. Today, I want to emphasize the importance of multi-time frame analysis and mastery of structure-based price action trading. From personal experience, you will do far better by adopting a trading system that is highly integrated with multi-time frame analysis than relying on indicators using only one time frame. First identify the time frame on which you want to enter trades, then go at least a time frame higher to identify trade set-ups, that is the anchor time frame. A third time frame, which is higher than the anchor time frame is to help you get an idea of market direction/prevailing market condition. Doing this will give you far more confidence than using only one time frame or relying on multiple indicators.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #369
  • Feb 20, 2020 3:22am Feb 20, 2020 3:22am
Learn more about candlestick patterns and market structure - how it is broken or confirmed by price action. With that knowledge, look for key turning zones or reaction areas on the highest time frame, i.e. the third time frame mentioned above. Those are the areas or zones you will be watching and tracking how price action operates; and they are areas or zones in which to look for confluence of factors for high probability set-ups on your set-up or anchor time frame.

Trade safe and prosper.

KP

Quoting KeenPips
It's been a while since I last posted on this thread. Today, I want to emphasize the importance of multi-time frame analysis and mastery of structure-based price action trading...
Do your homework, follow the footprints of smart money
  • #370
  • Feb 20, 2020 3:26am Feb 20, 2020 3:26am
Hi Keen

long time no chat, how is your trading going?
trading is simple but is simple is not easy.
  • #371
  • Feb 20, 2020 3:28am Feb 20, 2020 3:28am
Thanks buddy, I'm doing well. I hope you are doing well too.

Stay green mate.

KP

Quoting ZenNy
I Keen long time no chat, how is your trading going?
Do your homework, follow the footprints of smart money
  • #372
  • Feb 20, 2020 3:41am Feb 20, 2020 3:41am
Even a scalper can benefit from multi-time frame analysis and structure-based trading. Check this video below. As usual, I have no financial interest in the presenter neither am I holding him up as a 'guru' to follow.

Trade safe and prosper.

KP

Inserted Video


Quoting KeenPips
Learn more about candlestick patterns and market structure - how it is broken or confirmed by price action. With that knowledge, look for key turning zones or reaction areas on the highest time frame, i.e. the third time frame mentioned above. Those are the areas or zones you will be watching and tracking how price action operates; and they are areas or zones in which to look for confluence of factors for high probability set-ups on your set-up or anchor time frame. Trade safe and prosper. KP {quote}
Do your homework, follow the footprints of smart money
  • #373
  • Edited 9:38am Feb 20, 2020 9:01am | Edited 9:38am
Just sharing

Forget about how much pips you make in a trade, don't focus on how much money you make in the short term. Focus on growing your trading account and having a respectable, healthy equity over all.

KP
Do your homework, follow the footprints of smart money
  • #374
  • Edited 9:42am Feb 21, 2020 1:43am | Edited 9:42am
If you would like to grow your trading account in the long haul, be disciplined: 1. Focus on the long-term; 2. Trade only a few pairs you know their technical and fundamental behaviours very well; 3. Don't over trade; 4. Minimize your risk, e.g. use not more than 5% of your trading capital per position; 5. Wait for high quality and high probability trade setups, e.g. setups offering at least 2Rs (i.e. reward which is twice your risk/stop loss); and 6. Control your emotions, e.g. be level headed: don't be over excited when you win big, and don't go nuts when you lose.

Trade safe and prosper.

KP

Quoting KeenPips
Just sharing Forget about how much pips you make in a trade, don't focus on how much money you make in the short term. Focus on growing your trading account and having a respectable, healthy equity over all. KP
Do your homework, follow the footprints of smart money
  • #375
  • Feb 24, 2020 3:13am Feb 24, 2020 3:13am
Your post is very insightful mate, plz keep up the good work. Reading this has made me to realize that I still have a long way to go in learning the basics of forex trading. So, I want to kindly ask for training materials that you can recommend to me cos I'm a newbie to FT and don't even have an idea where to start from. Awaiting ur response KP.
  • #376
  • Feb 24, 2020 4:41am Feb 24, 2020 4:41am
Thanks mate for your encouraging comments. For basics, go to BabyPips.com; then look for You tube videos that emphasize price action trading, structure-based trading and multi-time frame/top-down analysis. Some good ones have been highlighted in this thread.

Trade safe and prosper.

KP

Quoting aike
Your post is very insightful mate, plz keep up the good work. Reading this has made me to realize that I still have a long way to go in learning the basics of forex trading. So, I want to kindly ask for training materials that you can recommend to me cos I'm a newbie to FT and don't even have an idea where to start from. Awaiting ur response KP.
Do your homework, follow the footprints of smart money
  • #377
  • Feb 24, 2020 5:11am Feb 24, 2020 5:11am
Quoting KeenPips
Thanks mate for your encouraging comments. For basics, go to BabyPips.com; then look for You tube videos that emphasize price action trading, structure-based trading and multi-time frame/top-down analysis. Some good ones have been highlighted in this thread. Trade safe and prosper. KP {quote}

I really appreciate u for taking ur time to share this information.

Best regards.
  • #378
  • Feb 26, 2020 10:10am Feb 26, 2020 10:10am
Continuous learning towards being a consistently successful trader is key. Check the below video to get one or two tips on trendline trading. As always, I have no financial interest in the presenter neither am I holding him up as a 'guru' to follow.

Trade safe and prosper.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #379
  • Feb 26, 2020 11:52am Feb 26, 2020 11:52am
Quoting KeenPips
Continuous learning towards being a consistently successful trader is key. Check the below video to get one or two tips on trendline trading. As always, I have no financial interest in the presenter neither am I holding him up as a 'guru' to follow. Trade safe and prosper. KP https://www.youtube.com/watch?v=k_9O...ature=youtu.be

As always, thanks for your precious input KP

A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #380
  • Feb 28, 2020 8:30am Feb 28, 2020 8:30am
One of the key problems traders have to deal with, is the often self-inflicted tendency to complicate their trading. Rather than settle for a simple direct trading system or strategy, many traders are often enamored with the complex ones, particularly in a period of uncertainty or when they hit some losses. One exercise you can do in your spare time is to look at your current trading system or one of your strategies and see how you can simplify it.

KP
Do your homework, follow the footprints of smart money
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