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  • #1,185,681
  • Oct 2, 2020 7:23pm Oct 2, 2020 7:23pm
Quoting MrBullBear
Be warned! Following PA cannot be EA'd programmed. Price Action following needs constant human thingking. Hence, you cannot skip/avoid emotion. Psychology in trading is the main factor every trader should deal. No one can escape that. Those who tried and cling to robots... will just fall victim. Understand the market and observe its behavior. That's the key in how to trade. What makes the price moves? Who moves the market? What are the factors that makes one economy weak or strong? How a strong/weak economy affects its currency towards market? And...
Thank you. That is the only way to trade. That is how all the professional successful traders trade. Bank traders, buy side, sell side, fixed incomes and so on. Institutions, hedge funds and so on. Anyone can have indicators on the charts, but professional traders always use and confirm entries by reading price action. Of course they also speculate the fundamental analysis, but these are the main keys you mentioned.
  • #1,185,682
  • Oct 2, 2020 7:51pm Oct 2, 2020 7:51pm
Quoting Techanalyst
{quote} Don't look at it that way. He does show some algorithm trading, indicators on his videos. It is up to a trader to try and figure it out which one works best for you. He is successful for himself. He does not charge for anything, but he shares his ideas and opinions. I agree about fundamental analysis, unless a major event happens like covid19 did and it was clear, you could jump in and buy eurusd, it is all speculation when it comes to the news. We can't know for sure what is going to happen when the news is about to come out. So it's speculation....
Hey, did you see my post about crypto trading being 24/7? There are some great opportunities because of this. I am using Kraken, as it allows for margin trading on certain pairs. Being that you are not a U.S. citizen, you have more options. The thing a lot of people don't get is you don't have to buy a whole Bitcoin to trade Bitcoin. You can trade a hundred dollars worth of Bitcoin. It's like trading gold, except that you actually own the crypto you have (what is not leveraged). So it's even better than trading gold. You have to be careful with the margin trading, however, because the crypto market is highly volatile. But because it is so volatile, you really don't need to use leverage, unless you want to short.

I think your supply and demand strategy would work very well in the crypto market. The thing to keep in mind is Bitcoin currently moves in the opposite direction of USD. So USDX is a leading indicator for Bitcoin. And when Bitcoin goes down, mostly every other crypto currency goes down with it, and vice versa. So it's easy trading if you know what you are doing and don't use too much leverage. Some crypto currencies I see worth trading are BTC, ETH, XLM, and ZEC.
Learn from your mistakes and march on.
  • #1,185,683
  • Oct 2, 2020 8:00pm Oct 2, 2020 8:00pm
Quoting here2there
{quote} Hey, did you see my post about crypto trading being 24/7? There are some great opportunities because of this. I am using Kraken, as it allows for margin trading on certain pairs. Being that you are not a U.S. citizen, you have more options. The thing a lot of people don't get is you don't have to buy a whole Bitcoin to trade Bitcoin. You can trade a hundred dollars worth of Bitcoin. It's like trading gold, except that you actually own the crypto you have (what is not leveraged). So it's even better than trading gold. You have to be careful...
I will start looking into bitcoins and start to trade it. I will use small lots until I get familiar with them. Thank you for information.
  • #1,185,684
  • Oct 2, 2020 8:18pm Oct 2, 2020 8:18pm
Quoting Techanalyst
{quote} I will start looking into bitcoins and start to trade it. I will use small lots until I get familiar with them. Thank you for information.
Lots of Forex traders are moving over to crypto because you can potentially make a lot more money there than in the Forex market. Also, be forewarned! I would not trade Bitcoin against any other crypto currency unless it is a stablecoin like USDC, USDT, etc... I find it safer to trade crytpo using USD. The nice thing is Kraken allows you to trade other major currencies against Bitcoin. If you are going to use such an exchange, keep in mind that it's not like MT4. Some brokers offer crypto trading on MT4, however. But it's very important to make sure your security level is as high as it can go on such exchanges to protect your money. Avoid Bitmex! And Coinbase sucks (high trading fees).
Learn from your mistakes and march on.
  • #1,185,685
  • Oct 3, 2020 1:47am Oct 3, 2020 1:47am
i close my short entry with 35 pips profit

for next week.. i think i'm gonna buy the dip.
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  • #1,185,686
  • Oct 3, 2020 2:40pm Oct 3, 2020 2:40pm
Since Trump is hospitalized, what does it mean for USD will it appreciate or depreciate?
I'm enjoying the wins because I was once terrified by loses
  • #1,185,687
  • Oct 3, 2020 10:18pm Oct 3, 2020 10:18pm
Market Makers:
The 90% of a traders time at an investment Bank is spent on generating business with clients (Hedge Funds & Pension Funds) and Making Markets in Assets (Stocks, Currencies, Commodities, Bonds) to those clients.

Prop Trading:
The 10% of a traders time at an Investment Bank is spent using the banks balance sheet (funds on account) trying to make money for the banks by Prop (Proprietary) Trading. The definition Proprietary Trading is all Trading that the Trader does that is Proprietary to executing client business.

Just to remember and sum it all up in few words. Trade safe.
  • #1,185,688
  • Oct 4, 2020 10:05am Oct 4, 2020 10:05am
I see to many confluence factors for shortin EU anyway lets wait and see
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  • #1,185,689
  • Oct 4, 2020 11:12am Oct 4, 2020 11:12am
Quoting doclouis
I had a great return...I sold off half for a 150pip profit....then I unfortunately ... didnt adjust my limit order.......and my remaining lot brought in around 125... I did nt jump back in Overall I was happy with the results L
The pair did not do much on Friday and our buy signal did not do much even the NFP news never did much on the pair,though it's worth noting that the pair traded above support level at 1.16945 the whole time with many rejections at this support level forming on 4ha time frame as shown below
As long as the pair trade above support level at 1.16945 I will still have a bullish bious on this pair with a long term view of a retest to resistance way up at 1.19149
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  • #1,185,690
  • Oct 4, 2020 12:06pm Oct 4, 2020 12:06pm
At 1600 I will buy eu I promise
  • #1,185,691
  • Oct 4, 2020 12:48pm Oct 4, 2020 12:48pm
Inserted Video
Technical Analyst & Trader @ Vikinsa
  • #1,185,692
  • Oct 4, 2020 2:06pm Oct 4, 2020 2:06pm
Quoting mizi123
I see to many confluence factors for shortin EU anyway lets wait and see {image} {image}
I saw this divergence too. Going down.
  • #1,185,693
  • Oct 4, 2020 2:09pm Oct 4, 2020 2:09pm
Quoting bigiivan
{quote} I saw this divergence too. Going down.
Yes
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  • #1,185,694
  • Oct 4, 2020 3:58pm Oct 4, 2020 3:58pm
If you are tracking the EURUSD this week, consider this technical perspective. On the daily time frame, topping patterns can be seen below the 1.1900 horizontal resistance area (magenta) seen on the monthly time frame. Besides, price action is in consolidation below the 1.17500 previous horizontal support (black) seen on the weekly time frame and, technically, susceptible for a role flip upon a breakdown of the consolidation area. A significant breakdown of the inner trendline (blue) traceable to May on a daily closing basis is likely foster a bearish drive. The outer trendline (purple) may serve as support in the longer term. I am more bearish EURUSD than bullish.


I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #1,185,695
  • Oct 4, 2020 4:20pm Oct 4, 2020 4:20pm
Quoting mizi123
I see to many confluence factors for shortin EU anyway lets wait and see {image} {image}
I'm waiting to see if it will even go down... if so, close above 1.166 or below will give me a bias ... right now it l is a mess. i have shorts from last week. but I'm hopping to get out below 1.17009 .
  • #1,185,696
  • Oct 4, 2020 4:23pm Oct 4, 2020 4:23pm
Quoting PatienceFx
At 1600 I will buy eu I promise
haha i hope so id like to buy from there too
  • #1,185,697
  • Oct 4, 2020 5:37pm Oct 4, 2020 5:37pm
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  • #1,185,698
  • Oct 4, 2020 5:51pm Oct 4, 2020 5:51pm
Quoting Techanalyst
{image}
looks so good.
  • #1,185,699
  • Oct 4, 2020 6:00pm Oct 4, 2020 6:00pm
Quoting Lamira
{quote} looks so good.
It's exhilarating.
  • #1,185,700
  • Oct 4, 2020 6:08pm Oct 4, 2020 6:08pm
Quoting Techanalyst
{quote} It's exhilarating.
it will be funny if EU and GU will break out of that consolidation one or other direction just to come back on middle of it
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