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Breakout London Timeframe

  • #3,441
  • Nov 12, 2022 7:37am Nov 12, 2022 7:37am
Part of trading forex CRITERIA:

TIME & PRACTICE
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  • #3,442
  • Nov 12, 2022 7:38am Nov 12, 2022 7:38am
some years ago, I thought that I can risk or stop loss 100pips in order to get 10 pips reward. Do you think is it worth?

Do you dare to risk 50% capital just for one trade which you strongly believe the signal is correct? Is it worth?
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  • #3,443
  • Nov 12, 2022 7:50am Nov 12, 2022 7:50am
rule #4 never turn a winner into a loser
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  • #3,444
  • Nov 12, 2022 8:00am Nov 12, 2022 8:00am
"The four most dangerous words in investing are: ‘this time it’s different.’”

"Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell. If you want to have a better performance than the crowd, you must do things differently from the crowd."

― Sir John Templeton,
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  • #3,445
  • Nov 12, 2022 8:07am Nov 12, 2022 8:07am
For beginners:

Must read a LOT! Never stop learning!

www.Babypips.com Best resources to know what Forex, How it work, and many more...best thing is that it is FOC...no need to paid a few hundred USD just to learn the basic info

Learn Price Action include the candlestick pattern, price formation, high Low

Support & resistance - must go depth on what is S/R, how to draw it....

Moving average Method = learn how to use it, when to use it,

Finally, Combine all together with your MONEY MANAGEMENT & SELF MANAGEMENT (include your devoted time for FX/ psychology/ Your behavior pattern when trading)

Demo Trading until you can feel the flow of the certain pair. Must have consistent profit! No shortcut!

FINALLY, GO TO LIVE TRADING
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  • #3,446
  • Nov 12, 2022 8:12am Nov 12, 2022 8:12am
Quoting Monokl
GBPAUD this is the ONLY pair which I hold take months.... the story begins when is around SEPT 2022 from Daily, I found that there are super HUGE BULL pin Bar.... This is NICE....from that time...I only look for LONG IT.....hehehe FROM H4 tf, the price play very nice up and down within the MA....ARE YOU KIDDING ME?? then H1 tf, I found nice spot where there huge bearish candle and then price reverse and break...
I guess this one of my most successful trade for this year 2022...I never change my method for soooo mannyyy YEARs...

For those who get started, plllllssss try to stick one method....don't ever jump here and there...
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  • #3,447
  • Nov 12, 2022 8:14am Nov 12, 2022 8:14am
PATIENCE IS BITTER, BUT ITS FRUIT IS SWEET

And of the time, I am waiting and waiting and waiting....
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  • #3,448
  • Nov 12, 2022 8:16am Nov 12, 2022 8:16am
Tell me and I forget,
Teach me and I may remember,
Involve me and I learn

I found this mantra years back...and keep remind me how wonderful it goes all this year
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  • #3,449
  • Nov 12, 2022 8:20am Nov 12, 2022 8:20am
Simplicity is the Ultimate sophistication

- Leonardo da Vinci

This is what I have been through so many years in trading...and discover this is the best words for me...hahhaha
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  • #3,450
  • Nov 12, 2022 8:32am Nov 12, 2022 8:32am
Here are 12 things to do when you feel like quitting:

1. Think of someone who didn't quit.

2. Believe in your ability to learn, grow and adapt.

3. Reflect on behaviours that aren't serving you well. Quit what isn't working. Focus on what is.

4. Repeat behaviours that give you energy.

5. Keep big goals in the back of your mind and next imperfect steps in the front of your mind.

6. Think weeks not days, months not weeks, years not months.

7. Think a little about how far you've come and a lot about what's next.

8. Focus on more on process and less on result.

9. Remember the quitters you have known.

10. Concentrate on something you can change.

11. Take a break. Have some fun.

12. Realise that your purpose has many expressions.
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  • #3,451
  • Nov 12, 2022 8:35am Nov 12, 2022 8:35am
In trading business, we need very strong mental and needs to feed our mental with positive energy...

This is first lesson before jump to find whatever trading strategy....

If you can't sustain the strong mental, whatever method you have will collapse eventually..
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  • #3,452
  • Nov 12, 2022 9:20am Nov 12, 2022 9:20am
BITCOIN

price make another lower low..

breaking strong support.

for next week, I suspect another week low...

Attached Image(s) (click to enlarge)
Click to Enlarge Name: BTCUSDWeekly.png Size: 26 KB
Click to Enlarge Name: BTCUSDDaily.png Size: 26 KB
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  • #3,453
  • Nov 12, 2022 9:24am Nov 12, 2022 9:24am
EURUSD

very strong bull ...in weekly almost how many bull candle there...

daily, shows the same picture.

how sustainable this up trend??
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDWeekly.png Size: 32 KB
Click to Enlarge Name: EURUSDDaily.png Size: 34 KB
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  • #3,454
  • Nov 12, 2022 9:38am Nov 12, 2022 9:38am
rule 6: Develop a methodology and stick with it. Don't change methodologies from day to day
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  • #3,455
  • Nov 12, 2022 9:41am Nov 12, 2022 9:41am
Traders lose money by entering the trade they shouldn't due to boredom or because they are trying to make something happen.

keep in mind this phrase>>

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  • #3,456
  • Nov 12, 2022 9:45am Nov 12, 2022 9:45am
GBPNZD

another nice setup which I spot.

Rising wedge...

Great to monitor on Monday..

Bias short
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDH4.png Size: 24 KB
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  • #3,457
  • Nov 12, 2022 9:49am Nov 12, 2022 9:49am
EURNZD

Daily clearly showing nice up up trend, but recently the bear took over the bull job..Can the price make another lower low?

H4 tf, nice setup for bear to charge from the current consolidation..

Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURNZDDaily.png Size: 23 KB
Click to Enlarge Name: EURNZDH4.png Size: 19 KB
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  • #3,458
  • Nov 12, 2022 9:55am Nov 12, 2022 9:55am
EURCHF

very nice down trend from Daily..yesterday price drop alot ...

H4 tf, if price drop below the black area, then bear charging

so bias short it till the bear roaring...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCHFDaily.png Size: 24 KB
Click to Enlarge Name: EURCHFH4.png Size: 23 KB
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  • #3,459
  • Nov 12, 2022 10:04pm Nov 12, 2022 10:04pm
Reality vs textbook
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 47 KB
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  • #3,460
  • Nov 12, 2022 10:11pm Nov 12, 2022 10:11pm
Sharing is caring....
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 22 KB
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