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Fundamental and Technical Success

  • #1
  • First Post: Edited 5:03am Feb 13, 2020 4:46am | Edited 5:03am

INTRODUCTION

Welcome to my thread, i began trading 15 years ago and i learn a lot of things during my years of trading which some are necessary and while some are just waste of my precious time, i have blown almost 16 which most of them are not my money but the money of some people i talked to and decide to invest in my trading and i notice forex is more than i think so i keep making research and put things together until i finally found my way around the market, i use fundamental analysis for direction only and use technical analysis for entry and exit.

By saying fundamental we have to keep it in mind that even the so call low impact affect the market greatly and i have make some good pips around that only.

My trading plan is just for small pips and its around 8 to 30 pips depending on the strength of the market

Note: i trade any news that move the market surprisingly.

I will upload the tools i use here and template for each currency

RULES


1. You have to know the location of accumulation and Distribution and draw the support and resistance zones which will be use for entry and exit

2. Know the sentiment of the fundamental of the news of the day

3. Check the currency strength for surprisingly volatility (note that market don't like large candles most times it is a reversal signal)

4. Check the Strength meter for wide and big strength


Examples


#1 USDJPY ( No news Strength i use for reversal only)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPYM5.png Size: 29 KB
Click to Enlarge Name: USDJPYM52.png Size: 31 KB
Click to Enlarge Name: USDJPYM53.png Size: 30 KB
Attached File(s)
File Type: zip Indicators.zip   153 KB | 568 downloads
  • #2
  • Feb 13, 2020 4:59am Feb 13, 2020 4:59am
Quoting flockofpips
INTRODUCTION Welcome to my thread, i began trading 15 years ago and i learn a lot of things during my years of trading which some are necessary and while some are just waste of my precious time, i have blown almost 16 which most of them are not my money but the money of some people i talked to and decide to invest in my trading and i notice forex is more than i think so i keep making research and put things together until i finally found my way around the market, i use fundamental analysis for direction only and use technical analysis for entry...
As someone who pays lot of attention to news fundamentals Its refreshing thread!
Just a suggestion some charts will help folks visually seeing your system.
Wish you success.
In trading, you have to be defensive and aggressive at the same time
  • #3
  • Feb 13, 2020 5:10am Feb 13, 2020 5:10am
#2 NZDUSD ( the first three is non news) while the last one will be explain
the last one is the interest rate decision and the spike in the indicator, i trade the lowest performing currency which is the JPY
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDUSDM5.png Size: 35 KB
Click to Enlarge Name: NZDUSDM52.png Size: 35 KB
Click to Enlarge Name: NZDUSDM53.png Size: 34 KB
Click to Enlarge Name: NZDUSDM54.png Size: 31 KB
Click to Enlarge Name: NZDJPYM56.png Size: 45 KB
  • #4
  • Feb 13, 2020 5:24am Feb 13, 2020 5:24am
Quoting Davit
{quote} As someone who pays lot of attention to news fundamentals Its refreshing thread! Just a suggestion some charts will help folks visually seeing your system. Wish you success.
Wow seeing great trader on my thread am so alive
  • #5
  • Feb 13, 2020 7:11am Feb 13, 2020 7:11am
moments ago
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 29 KB
Click to Enlarge Name: EURCADM5.png Size: 31 KB
  • #6
  • Feb 13, 2020 7:20am Feb 13, 2020 7:20am
i will be posting lot of pictures and live trades
addition is welcome and if someone can code the candle length indicator for alert on the level and dash board for currency strength meter i will be glad
  • #7
  • Feb 13, 2020 7:53am Feb 13, 2020 7:53am
Happening now.. green pips
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM5.png Size: 30 KB
  • #8
  • Feb 13, 2020 9:20am Feb 13, 2020 9:20am
Recent
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM5.png Size: 30 KB
  • #9
  • Feb 13, 2020 10:10am Feb 13, 2020 10:10am
green pips
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5.png Size: 33 KB
  • #10
  • Feb 13, 2020 12:21pm Feb 13, 2020 12:21pm
Quoting flockofpips
green pips {image}
Did you buy here as the opposition of the spike candle? Can you explain how you use news to enter trade ?
  • #11
  • Feb 13, 2020 1:35pm Feb 13, 2020 1:35pm
Quoting noname2x
{quote} Did you buy here as the opposition of the spike candle? Can you explain how you use news to enter trade ?
yes i buy there because the big player move the market to the support there so every spike in the market is not meant to be news sometimes the stop hunters do that to cash profit on stops...
And example of how i trade the news is the NZDJPY, i trade based on enormous spike up and the NZD show a lot of strength and the least of all is JPY thats why i choose NZDJPY..
did i answer your question correctly?

It based on Price action.
  • #12
  • Feb 13, 2020 2:07pm Feb 13, 2020 2:07pm
Fundamental and Technical Success

Hello flockofpips,

Congratulations on the new thread, that is sure to take you further forward. If you write down your thoughts on trading, questions from interested traders create enormous development potential. And exactly this development is a decisive step in the right direction.

I wish you all the best from the bottom of my heart.

Greetings Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #13
  • Feb 13, 2020 3:37pm Feb 13, 2020 3:37pm
thank you Michael have been thinking how do you manage to trade only just one pair and why?
  • #14
  • Feb 13, 2020 4:29pm Feb 13, 2020 4:29pm
Quoting flockofpips
{quote} yes i buy there because the big player move the market to the support there so every spike in the market is not meant to be news sometimes the stop hunters do that to cash profit on stops... And example of how i trade the news is the NZDJPY, i trade based on enormous spike up and the NZD show a lot of strength and the least of all is JPY thats why i choose NZDJPY.. did i answer your question correctly? It based on Price action.
Thanks for your answer! It pretty much explains your method. How do you manage risk if the spike candle continues its way down or up? You also don't enter before news and try to catch the big move?
  • #15
  • Feb 13, 2020 5:46pm Feb 13, 2020 5:46pm
Quoting noname2x
{quote} Thanks for your answer! It pretty much explains your method. How do you manage risk if the spike candle continues its way down or up? You also don't enter before news and try to catch the big move?
i dont usually jump into the market like that, i only watch for important levels like the pivot point (thanks to davit)..demand and supply ( i owe Bionics" Michael")..
If i should get a candle strength around all these levels then i watch what the market do after then, I can make decision on whether it is trade able or not.

My stop loss is either above or below those levels and mind you sometimes i look for levels where both give me the same ( example if we have a support around 0.68% and we have spike there too without news then i can trade)

your second question...sometimes i do enter before the day of the news,if the market have been digesting it before the day of the news, because i feel there is no point of the news then, example if an important news like employment rate decline like two times especially to negative value and the next forecast is increment like positive, i usually start looking for opportunity to trade from Monday because a reasonable currency cant dwell in negative more than twice for employment rate, i usually close my trades after the spike though.
  • #16
  • Feb 14, 2020 2:01am Feb 14, 2020 2:01am
Trading revert to the mean on thin liquidity is a great strategy. Most of those candles can be treated as GAPS, (volatility gaps).They don't always close on the same day so you need system in and out for this trading? like everything in trading, risk, leverage and probability need to be on your side.

I've traded volatility and revert to the means for years and these are some important factors to keep on top of

- Probability is the thin spread will most likely close before it moves on but when and how soon.
- The reason it was created was once sided orders/imbalance in the market so limits will most likely reside when it returns
- Once it reverts to mean then there is other trading opportunities at that area. If it runs through then it was just orders not a move to reverse trend
- Best traded with the trend/so if it gaps up against the trend the probability is greater for the revert
- Leverage best scaled in
- Nothing a sure bet/control your measurements.
- Have a signal in and out that controls the emotion and ego/always used a measure of range for entry/profit has always been a fib target and base of move
- The more it gaps up the better the trade looks so be careful
- Managing the trade when profitable is prob more important than getting in
- Look left on larger time frame because you will probably have a thin spread on the larger frame that it will be moving for

All the best, good luck and trade well.
  • #17
  • Feb 14, 2020 3:58am Feb 14, 2020 3:58am
Quoting squawk
Trading revert to the mean on thin liquidity is a great strategy. Most of those candles can be treated as GAPS, (volatility gaps).They don't always close on the same day so you need system in and out for this trading? like everything in trading, risk, leverage and probability need to be on your side. I've traded volatility and revert to the means for years and these are some important factors to keep on top of - Probability is the thin spread will most likely close before it moves on but when and how soon. - The reason it was created was once sided...
thank for the advice
  • #18
  • Feb 16, 2020 4:04am Feb 16, 2020 4:04am
Quoting flockofpips
{quote} thank for the advice
Thank you for choosing to show your trading style , I have been on Forex for about five years and all without success, now I began to understand that without fundamental analysis, nothing will come out , I will follow your topic, please post more screenshots with comments, also interested in what time you enter the transaction after the news ...
  • #19
  • Feb 16, 2020 11:57am Feb 16, 2020 11:57am
Quoting Sasha1978040
{quote} Thank you for choosing to show your trading style , I have been on Forex for about five years and all without success, now I began to understand that without fundamental analysis, nothing will come out , I will follow your topic, please post more screenshots with comments, also interested in what time you enter the transaction after the news ...
Welcome Sasha1978040 to my thread, its good to see what am seeing in the forex market and lot of rumors is the first problem of the fundamental traders, i only trade surprise and expectation in some way that i will explain shortly.

I mean surprise in fundamental is when the market react enormous to news that was not suppose to, by looking at the strength meter indicator then i will know what to do...of course i don't enter the market unless i look for a zone that will give opportunity for stop loss and take profit level, that's the most important to me.... don't just take position like that.

I enter the market before the news if and only if the particular news is as the way i explain my spike trading...you will notice that the market would have been reacting the news before the day. if i don't get clear picture of the news then i will wait for the market to react i then look at the strength and the least strength then i enter the market at or around my zone and take profit to next...
If you trade like that my friend you will be correct at least 90% of the time.
  • #20
  • Feb 16, 2020 12:16pm Feb 16, 2020 12:16pm
This week spike trading is for GBP retail sale, i will be trading the swing in the direction of the news before the day of the news to maximize my profit and the pair i will trade most this week is GBPAUD,also CAD pairs like USDCAD, after every news , i will be watching for the strongest and the least for pair to trade.

Also as always will be trading the PA of enormous strength without news of any currency.

That's the plan for the week, have a green pips for the week.

Flock of pips
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