Day trade setup

This a possible entry

Looking at the 1-hour chart, the GBP/JPY rebounds after breaking below the green and blue lines, but it is blocked and falls below, and it is still looking down even above the downward fan.

US30 sell trade

Kick the week off with Gold

TP 1.5R

You caught a big move here! Nice one!

Our styles are different as I just scalp using this strategy and am very happy with my 1.5R but really nice trade bro!

Some new traders are saying their templates are not working. Please use this Indicator and template.
Learn how to install indicators and templates on youtube.
In this template, I use 4 Colour MACD instead of 1 color macd. Hope it will help you understand different TF price momentum easily.

Remember this system will change your trading and will make you a profitable trader. Keep practicing, You will be a very good trader.
Best of luck.

Nice trade after 2 bar pullback continuations entry.

GJ

Just visiting a thread will not make you a profitable trader. you have to open trade and post your trade here. It will help you become good at the system.
Hope you understand.
My us30 Sell trade.
Best of luck

EURJPY - Head&Shoulder Reversal Scalp. Risky trade as going against HTF, not something I usually do but this looked decent and I cut risk fast.

Entry off break of support! Nice one bro!

B/E

This was very unfortunate as then went onto TP but I was going against HTF so didn't want to hold any risk.

Excellent trade, You are a very good example for new traders who whats to trade with this system.

The problem is some people can't believe they can become a profitable trader with this simple system.
Some people look for algo validations system. I know some people who use proper Bactested profitable system yet they fail to generate profit.
Trading is the art of managing risk and believing in themself. Very few people understand it.

George Soros is a highly successful investor and trader, and here are 17 of his trading advice:

1. "It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong."
   
2. "Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected."
   
3. "If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring."
   
4. "If you're good at something, you'll tell everyone. If you're great at something, they'll tell you."
   
5. "The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market."
   
6. "When you know you're right, you don't need to worry about what the markets will do in the short term."
   
7. "To be a successful trader, you have to be able to admit mistakes. People who are very rigid and unwilling to change their minds, they'll never make it."
   
8. "Investing is a strange business. It's the only one we know of where the more expensive something gets, the more people want to buy it."
   
9. "If you're looking for a formula for success, it's the ability to take risk and think for yourself."
   
10. "When investing, always remember that you are playing with probabilities, not certainties."
    
11. "The greatest asset of a successful investor is a long-term perspective."
    
12. "The only way to consistently make money in the market is by focusing on long-term trends and riding them out."
    
13. "The key to successful investing is to think independently and act rationally."
    
14. "In investing, there are no crystal balls or guarantees, only probabilities and possibilities."
    
15. "The most important thing in investing is to preserve your capital, and the second most important thing is to make money."
    
16. "The successful investor must be willing to take risks and be patient in the face of uncertainty."
    
17. "The key to successful investing is to have a sound strategy, stick to it, and have the discipline to stay the course even when the going gets tough."

Joe Lewis is a successful Forex trader who has made a fortune in the financial markets. Here are 20 of his trading advice:

1. "Discipline is the key to success in trading."
2. "Always manage your risk properly. Protect your capital at all costs."
3. "Be patient and wait for the right opportunities to come along."
4. "Don't let emotions cloud your judgment. Stay focused and stick to your trading plan."
5. "Always have a clear exit strategy before entering a trade."
6. "Keep your trading simple. Don't overcomplicate things."
7. "Stay informed and up-to-date on market news and events."
8. "Never chase the market. Wait for it to come to you."
9. "Be flexible and adaptable to changing market conditions."
10. "Always keep learning and improving your trading skills."
11. "Don't let fear or greed drive your trading decisions."
12. "Don't be afraid to cut your losses if a trade is not going in your favor."
13. "Take calculated risks and be willing to accept losses as part of the trading process."
14. "Focus on consistency in your trading, rather than trying to hit home runs."
15. "Be prepared for volatility in the markets and have a plan for managing it."
16. "Use technical analysis to identify trading opportunities, but always consider fundamental factors as well."
17. "Stay disciplined with your trading plan and don't deviate from it."
18. "Don't let past successes or failures affect your current trading decisions."
19. "Stay grounded and don't get carried away by short-term market movements."
20. "Remember that trading is a marathon, not a sprint. Focus on long-term success rather than short-term gains."

Nail on the head there mate. VERY well said

With scalping I really try and enter the market with momentum such that price doesn't wick close to my entry point more than once. I get a lot of breakevens but also very few losses but the absolute key is to manage risk as you said. I can't control if I will win/lose but can control the risk on a position so try and do that to the max. I don't go for big R therefore winrate is important to me. B/E trades are just free trades and overall improve my winrate. Your template gives me a very good entry point. Just see what timeframe price is respecting the wave.

And yes trading is all about finding what works for you. It's funny but the way people read the market is almost a reflection of the trader's mind. You will find successful traders in Elliot Wave, Gann Analysis, Astrology Trading, Harmonics etc etc. Each using COMPLETELY different theory and yet ALL making money. How? All they did is master one theory and use that as a reference for the market. The market just does what it does. You just need some basic theory to give you a point of reference and after that nothing but chart time will get you to your goals. Above all be fluid. I tend to look for failures as well as patterns completing. Both tell me something. My favourite pattern is just the engulf inline with structure as you can tell. If structure is up and there is a big engulf down then I ask why? Doesn't make sense. Then usually there is another engulf in the direction of structure and that's the one to take.

It's like asking asking a Jazz pianist to show you how he/she improvises to Jazz. This isn't something you can teach to the novice. You can just teach the novice the basics and then the novice MUST put in the work to gain a deep understanding of music. Develop a subconscious understanding. It's something that takes years of dedication & work to develop. Develop your own view of the market as if you look to copy others you won't know what to do when you need to adapt and evolve to ever changing market conditions. Take what helps you from others but always have your own view. This is why there is no holy grail as it's different for every individual based on their psychology.

Confidence comes from success and success just comes from learning from your failures. We mostly berate ourselves when we fail but that is a defeatist attitude of a fixed mindset. We MUST extract the lessons from the losses and use that as an evolutionary process to get better not let huge emotional rollercoasters affect us. If you miss an easy trade, instead of getting angry or upset, just ask yourself WHY? What can I do better next time? If you take a stupid trade then again ask WHY? What was I thinking at the time of taking the trade? How can I learn from that? A really good way of doing it to have a microphone attached to your PC and record yourself taking a trade, speaking out loud your entire thought process for taking it. After a few days watch the video and you will be surprised. I used to to do this when I started.

Above all this game just takes time and faith. You must walk by faith and not sight when you start any endeavour to become the exception to the odds in any field.

This approach is nice and simple but must be married to your own observations and experience. The trick is not to complicate an already complex task but to simplify it as much as possible.

Some Veteran Trader Wrote this, I can't remember where I read it:
"I separate the notion of reality from beliefs. However, beliefs are those things that I choose to rely on. I have consciously changed my beliefs in my life. My reality, on the other hand, is that part that is neurologically wired in me. I know this may sound like semantics, but it isn't. In my e-mail (this is part of his instruction to a group of his trading students), I specifically tried to highlight the fact that I was "choosing" these beliefs (more about this in a minute). For example, I choose to use a particular trading methodology. But that belief is not neurologically grounded in me. It is simply a framework in which I choose to view market structure. I readily admit that the "market" has no knowledge of the existence of that structure.
In my trading work, I have done many exercises of simply removing all indicators from my charts to purposely change my perception. I also studied Elliott Wave for a year which is also a structure in which to view the market, yet very different from DG. I made a choice of which structure I wanted to apply to the market. I didn't choose a structure that I thought actually was the market. This is very important to my mindset and approach to the market. I am under the perception that all successful traders have adopted some sort of belief system about the markets. I also think that these traders would readily admit that their beliefs may not necessarily be shared by others. Yet, it doesn't matter. It is what they "choose" to adopt."

As a means of self management, I do the following after a trade. I score myself as follows

Trade Entry x/10
Trade Management X/10
Emotional State x/10

Total x/ 30

You have to be honest with yourself.
It helps to keep me focussed