I have a new artistic creation. I'll save it here.
I know that the more I know, the more I don't know
My current notes:
What is your trading strategy [Overbought/Oversold]? The appropriate grade is A, B. The logical reason is that the price is already too high, making it safer with less risk.
What is your trading strategy [Following the Trend Direction]? The appropriate grade is E, D. The logical reason is that the price is not yet too high, just enough to make a profit.
Salam Indo
Zorox
I know that the more I know, the more I don't know
Market Display Monitor is a tool for observing market price movements. Sometimes, traders, whether they have already made a transaction or not, will briefly observe the currency they're targeting to determine its potential and risk. Some people simply need a visual with large text to see or observe. Remember, opening a buy or sell position isn't as simple as relying on numbers and colors. Each trading strategy has no more than a 5% chance of winning in the market. Therefore, stick to one trading strategy with complete mastery. Don't mix and match trading strategies. I use Overbought/Oversold, so I study everything related to Overbought.
Salam Indo
Zorox
I know that the more I know, the more I don't know
- #189
- Jul 14, 2025 2:04am Jul 14, 2025 2:04am
{image} Market Display Monitor is a tool for observing market price movements. Sometimes, traders, whether they have already made a transaction or not, will briefly observe the currency they're targeting to determine its potential and risk. Some people simply need a visual with large text to see or observe. Remember, opening a buy or sell position isn't as simple as relying on numbers and colors. Each trading strategy has no more than a 5% chance of winning in the market. Therefore, stick to one trading strategy with complete mastery. Don't mix...
{quote} Hello, bro! I noticed you use the Overbought/Oversold strategy, and it seems like you're really skilled at it. Could I kindly ask for some insights? For example, which indicators do you find reliable for spotting Overbought/Oversold conditions, or any tips to avoid making wrong entries? Thanks a lot in advance!
Step Two: Period: Provide a rationale for the period number.
Step Three: I'll give an example using a simple indicator, the Moving Average. Open 4 charts (4 different timeframes (M30, H1, H4, D1). Enter the MA indicator with a period of 24. Calculate the distance between the current price and the MA. If the price is above or below the MA by 20 pips in all 4 timeframes, the final step is to find the entry point.
Step Four: If the price is below the buy open and if the price is above the sell open, follow these four rules:
1. Calculate the risk per trade. For example, if I use a lot size of 0.01, how much risk do I have of losing money and how much profit can I make? For example, RR 1:2.
2. Is the market volatile? Use ATR/ADX/Market Display Monitor.
3. Am I entering based on my strategy or based on emotion/FOMO?
4. Are the fundamentals safe (is there any high news or is the currency experiencing anomalous behavior?) For example, JPY, this currency tends to fall or rise continuously without any resistance.
I know that the more I know, the more I don't know
I'll give a real example: valid for this week, pay attention to EURNZD, a good target for a sell entry.
Rule 1: Determine the risk per trade.
Rule 2: Volatility: I use the Market Display Monitor, I wait for the NZD to be above the EUR (NZD +3/+5) and (EUR -3/-5).
Rule 3. Use Strategy or Emotion? Use Strategy -> Next Rule 4.
Rule 4. Fundamentals (High News or Notes) Especially for the currency (JPY), Fundamentals are OK -> Entry SELL
It's very simple; it just requires practice, absolute rules, and a trade journal (recording trades and the reason for entry).
Salam Indo
Zorox
Rule 1: Determine the risk per trade.
Rule 2: Volatility: I use the Market Display Monitor, I wait for the NZD to be above the EUR (NZD +3/+5) and (EUR -3/-5).
Rule 3. Use Strategy or Emotion? Use Strategy -> Next Rule 4.
Rule 4. Fundamentals (High News or Notes) Especially for the currency (JPY), Fundamentals are OK -> Entry SELL
It's very simple; it just requires practice, absolute rules, and a trade journal (recording trades and the reason for entry).
Salam Indo
Zorox
I know that the more I know, the more I don't know
{image} I tried buying GBPCAD using certain calculations and rules. I added visuals to monitor the transaction. ^_^
I'm an impulsive person. So, with a trading journal, I can analyze many of my mistakes. The fact is, I've discovered that most of my mistakes are driven by emotion, not trading strategy.
This is just an example of a case study I can share.
So, if you don't have a trading journal, I can say 100% that you'll make the same mistakes 1,000 times. But if you start with a trading journal, you're truly on the path to success.
Salam Indo
Zorox
I know that the more I know, the more I don't know
{quote} note Step Three: I'll give an example using a simple indicator, the Moving Average. Open 4 charts (4 different timeframes (M30, H1, H4, D1). Enter the MA indicator with a period of 24. Calculate the distance between the current price and the MA. If the price is above or below the MA by 20 pips in all 4 timeframes, the final step is to find the entry point. Summary and Explanationmake clearly my understanding ) You want to use the Moving Average (MA) indicator with a period of 24 across four timeframes (M30, H1, H4,...
Some people use weekly pivot points as a tool. They sell when the price is at X (above the pivot point) and buy when the price is below the pivot point. The concept is the same as overbought/oversold. The key to profit is an indicator that can detect price reversal patterns.
I know that the more I know, the more I don't know
{quote} Dear Zorox thank you for your reply .. let me confirmed MA is it SMA24 or EMA 24 for your template ,, and your find out enty point in TF M30 righ ?
example, consider the current EUR/GBP. I analyze using moving average (MA 200). I open the M30, H1, and H4 charts, and the price is above the MA. Now, look at the market monitor display and see that GBP is currently above EUR, meaning GBP is stronger than EUR. I'm currently waiting for the daily percentage for EUR/GBP to fall below -0.10% to -0.25% and then I'm selling...
Whether it's a 24-day moving average (MA), a 50-day moving average (MA), or a 200-day moving average (MA), remember that numbers and colors don't mean anything. The chart I'm viewing shows EUR/GBP is overbought. I'm holding back from selling until the daily percentage meets my standards.
I know that the more I know, the more I don't know