Stop searching for the 'Holy Grail', work on yourself! | Page 21 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The HOLY GRAIL 130 replies

Developing the "Holy Grail" Trading System 4 replies

Holy grail trading system wanted, or nearest thing to it! 43 replies

6 Steps To Finding Your Personal Holy Grail 6 replies

The Search for the Holy Grail 1 reply

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

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

  • #401
  • Mar 24, 2020 12:34pm Mar 24, 2020 12:34pm
Very good contribution. Yes, I like your scenario analysis: either 'a bounce off' the level or 'a breakout from it'. And you give a good technical reason. Thank you for the contribution.

Trade safe and prosper.

KP

Quoting FxQB15
{quote}...That level 18850 is almost the fri PB high and very well could be a bounce off level. I Think it's either that or breakout of that area to possibly test the 1.20000 (breakout to new lows for GBP now could serve as a Resistant lev) levels coincide with fib 38% level accounting the pandemic duration trend. Remains to be seen...{image}
Do your homework, follow the footprints of smart money
  • #402
  • Mar 24, 2020 4:23pm Mar 24, 2020 4:23pm
Hello Keen and others,

I am fortunate to participate in the markets during these times … I am improving my learning in terms of "scale / time / structure" of PA ... So much volatility is adding a new "dimension" (" scale / time ") at least in EURUSD (the only one I follow and operate) ... I'm really enjoying ...

Thanks for keeping the thread ...

Regards
Newbie trader
  • #403
  • Mar 24, 2020 9:22pm Mar 24, 2020 9:22pm
Hi KeenPips,

Good thread and as a learning trader, I still cannot get rid of the fear factor in my trade (e.g. FOMO and fear of getting out early) and I found myself spend too much time staring at the screen for no good reason. Is there any good practices on training my discipline and mentality?
  • #404
  • Edited 1:58am Mar 25, 2020 1:48am | Edited 1:58am
Thanks mate for your encouraging comments. To deal with the fear, let me first state that you must convince yourself that the market will be available to trade the next trading day, so there will be ample opportunities to earn money as long as you have the trading capital. So, it is important that you have money in your trading account always; meaning, capital protection is your #1 goal. Second, reduce your lot or position size to about 1% of your trading capital. Third, do a thorough pre-market analysis on each pair or market you want to trade using a top-down approach. Fourth, if you are a scalper, try to change your trading style or use a higher time frame for directional bias and wait for price action or momentum on the lower time frame and a clear setup before entering a trade. Five, patience is king; just practice waiting, take more time to track price action within identified support or resistance zones before looking for a trading opportunity.

Trade safe and you would prosper.

KP

Quoting Zerion
Hi KeenPips, Good thread and as a learning trader, I still cannot get rid of the fear factor in my trade (e.g. FOMO and fear of getting out early) and I found myself spend too much time staring at the screen for no good reason. Is there any good practices on training my discipline and mentality?
Do your homework, follow the footprints of smart money
  • #405
  • Mar 25, 2020 3:44am Mar 25, 2020 3:44am
Quoting KeenPips
Thanks mate for your encouraging comments. To deal with the fear, let me first state that you must convince yourself that the market will be available to trade the next trading day, so there will be ample opportunities to earn money as long as you have the trading capital. So, it is important that you have money in your trading account always; meaning, capital protection is your #1 goal. Second, reduce your lot or position size to about 1% of your trading capital. Third, do a thorough pre-market analysis on each pair or market you want to trade...
Hi KP, how do you generate the time to write so much and give you precious advice.

A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #406
  • Mar 25, 2020 4:01am Mar 25, 2020 4:01am
Thanks @Harry6. I take that as a compliment.

Trade safe.

KP

Quoting Harry6
{quote} Hi KP, how do you generate the time to write so much and give you precious advice.
Do your homework, follow the footprints of smart money
  • #407
  • Mar 25, 2020 5:39am Mar 25, 2020 5:39am
Thanks mate. I am happy to learn of your progress.

Trade safe.

KP

Quoting fex
Hello Keen and others, I am fortunate to participate in the markets during these times … I am improving my learning in terms of "scale / time / structure" of PA ... So much volatility is adding a new "dimension" (" scale / time ") at least in EURUSD (the only one I follow and operate) ... I'm really enjoying ... Thanks for keeping the thread ... Regards
Do your homework, follow the footprints of smart money
  • #408
  • Mar 25, 2020 4:46pm Mar 25, 2020 4:46pm
Limiting your trades to maybe two or three losses per day (or a sum that is equal to your risk tolerance for the day) before turning off the screen will do wonders for you. Trust me. I've been there.

It's the eventual big winner will make you feel all those days of turning off the screen very well worth it.
  • #409
  • Mar 26, 2020 2:31am Mar 26, 2020 2:31am
Quoting KeenPips
Thanks @Harry6. I take that as a compliment. Trade safe. KP {quote}
It is...........off course
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #410
  • Mar 26, 2020 2:53am Mar 26, 2020 2:53am
Thank you.

Trade safe and prosper.

KP

Quoting Harry6
{quote} It is...........off course
Do your homework, follow the footprints of smart money
  • #411
  • Mar 26, 2020 12:52pm Mar 26, 2020 12:52pm
Quoting FxQB15
{quote} Totally get your point. That level 18850 is almost the fri PB high and very well could be a bounce off level. I Think it's either that or breakout of that area to possibly test the 1.20000 (breakout to new lows for GBP now could serve as a Resistant lev) levels coincide with fib 38% level accounting the pandemic duration trend. Remains to be seen. thx Trade well. {image}
Hi KP.. I thought maybe appropriate to place an update on the sentiment I put up here yesterday. I end-up going long, price did surge up and bounced off the 85 level that you mentioned but end-up closing D1 back around the same price point. I decide to keep it to see reaction to 1.20 level which luckily broke away nicely and held above at around 38% fib level.
What is your sentiment now? I am holding for more gain to up to about 50% fib level.. what ya think?
thx

Trade well.
Attached Image (click to enlarge)
Click to Enlarge Name: xxx1.png Size: 38 KB
Nobody ever made a dime by panicking. Jim C
  • #412
  • Mar 26, 2020 1:11pm Mar 26, 2020 1:11pm
Friends, does anyone know a website/tool I can use to plot an OIL vs CADJPY comparison chart? Id do it by hand but I cant find my ruler
  • #413
  • Mar 26, 2020 1:12pm Mar 26, 2020 1:12pm
Very good that you were tracking the GBPUSD price action. It broke above the zone but I had exited my long earlier. The next level to watch is around 1.22750. Presently, the momentum is still bullish but weakening and we have to see what happens at the daily close.

Trade safe.

KP

Quoting FxQB15
{quote} Hi KP.. I thought maybe appropriate to place an update on the sentiment I put up here yesterday. I end-up going long, price did surge up and bounced off the 85 level that you mentioned but end-up closing D1 back around the same price point. I decide to keep it to see reaction to 1.20 level which luckily broke away nicely and held above at around 38% fib level. What is your sentiment now? I am holding for more gain to up to about 50% fib level.. what ya think? thx Trade well. {image}
Do your homework, follow the footprints of smart money
  • #414
  • Mar 26, 2020 1:19pm Mar 26, 2020 1:19pm
Could you check www.tradingheroes.com (https://www.tradingheroes.com/cad-jpy-oil-correlation-explained/) and www.forexexperts.net (https://forexexperts.net/index.php/t...d-correlation)? I don't know if any of them meets your needs.

Is there any member out there who could help?

KP

Quoting SidneyMagal
Friends, does anyone know a website/tool I can use to plot an OIL vs CADJPY comparison chart? Id do it by hand but I cant find my ruler
Do your homework, follow the footprints of smart money
  • #415
  • Mar 26, 2020 1:51pm Mar 26, 2020 1:51pm
Here you go KP
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 140 KB
  • #416
  • Mar 26, 2020 2:20pm Mar 26, 2020 2:20pm
Very good.

KP

Quoting SidneyMagal
Here you go KP {image}
Do your homework, follow the footprints of smart money
  • #417
  • Mar 31, 2020 2:28am Mar 31, 2020 2:28am
When last did you review the pairs on your watch list? Times like these may provide an opportunity for you to do so. I am mainly a swing trader (about 75-80% of the time), i.e. in the sense of leaving my positions open for more than one day. In the past few weeks, I have found that I have to be more careful swing trading the pairs on my watch list. Certain pairs I track are more amenable for intra-day trading than swing trading, apparently in times like these. The other day, about two weeks ago, I was swing trading XAUUSD long and had moved my sl to 150 points profit level. I went off to do other things and by the time I returned home later in the day, the trade had closed giving me only 45 points of profit. A strong volatile move had swept southwards running off my sl. On normal days, I would have been fine, given the fact that I had 50 points buffer where I moved my sl to. So, in the present circumstance, I focus on trading XAUUSD within identified ranges and I do it intra-day.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #418
  • Apr 1, 2020 7:41am Apr 1, 2020 7:41am
You need to keep learning and improving for consistent trading success. Here's a price action video you may learn from. As usual, I have no financial interest in the presenter neither am I holding him up as a 'guru' to follow.

Trade safe.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #419
  • Apr 2, 2020 3:37am Apr 2, 2020 3:37am
How is patience working for your trading in these times of volatility and uncertainty of fundamentals?

KP
Do your homework, follow the footprints of smart money
  • #420
  • Apr 2, 2020 4:34am Apr 2, 2020 4:34am
Quoting KeenPips
How is patience working for your trading in these times of volatility and uncertainty of fundamentals? KP
My definition of patience atm KP is to stay out. I'm not a scalper. Thanks for your work.
0 traders viewing now