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Forex Training: What to Look for in a Forex Training Program 1 reply
Quit Job , go Back to School, Trade Forex? 33 replies
Can forex trading help with a MBA school admission ? 1 reply
DislikedGood opportunity PPP. I'll start putting up my Trix trades again.
But when we go to cash, without a water-tight plan, emotion invariably kicks in, and we are left wondering why it just isnt working any more.
PeterIgnored
DislikedFantastic result Lrathi, could I just ask though what your technique is for watching so many pairs, do you just watch certain pairs at certain times or do you watch them all at the same time?Ignored
Disliked1.10-15 mins before each H4 candle I start to check each chart on the H4 TF for the first trend change. THIS IS HINT 2 in the manual. This is the start of my cycle of trade set ups. I maximise these pairs. On the close of the H4 candle I do a quick screen/scan whether these few pairs actually confirm a first change of trend on the H4 TF. ( ACTUAL TIME ON PC 15-30 mins every 4 hours). I do not do these when I sleep/unable to be near the PC, I skip the H4 candle.
2. For those of us who have been trading for a while...Ignored
DislikedHi everyone. I trust we all had a good weekend.
As you are all aware, Glen is of the opinion that the way forward for those traders seeking to deepen their knowledge of his trading techniques will be via a private forum. I have received many PM's from folks wanting to be put on the list for this forum. Glen has expressed that he would rather teach a handful of dedicated learners than a multitude of window shoppers. This is quite understandable, given that those who are serious about developing their trading plans further will naturally be more...Ignored
4. What is your trading routine?
What will you do each day, week or month to setup your trading routine. Once you have a set routine you can eliminate any un-nessacerry steps in your trading day allowing you to refine your trading to a fine art. This directly relates to achieving more time in your life.
5. How will you develop as a trader?
We can all develop our trading skills further. The question is how and when will you develop your skills. Section five deals with putting a system in place to develop these skills. I love learning and there are a massive number of trading courses available to push your trading knowledge even further. Pick one and work towards it.
6. What happens when you get it right?
When will you withdraw money from your trading account? You trade to make profits, but if you never withdraw them it's pointless. Removing profits comes back to the heart of why you're trading.
7. What is your backup plan?
Yep computers crash, brokers go offline and the internet drops out. The question is how will you prepare and survive these occasions?
8. Printing your plan.
After you have spent the time and refined your trading plan you can print a hard copy to allow easy reference when you're trading. No more questions about what to do when the currency goes down $1.00. You just refer to your plan and take the required action.
9. Need Help?
Dont worry...... there are commercial people who can help.
PM me for the website address.
DislikedYes, look at the H4 trix meter line, when that changes at close of candle, go down to M5 TF.Ignored
Dislikedlrathi, i think i misunderstanding man.i only look at the 5 min chart for enter a trade . After looking this post, what i undertstand is :if i trade 60-15-5 strategy ,so first, i need to look the H1 chart first and to wait the H1 trix meter line to changes at the close of candles, and go down to 5 min chart to look for a trade.
Is't right??i hope you do not feel frustrated about my question .http://cdn.forexfactory.com/images/icons/icon7.gifIgnored
DislikedBit naughty...
Got in before the M15 confirmed, as can be seen. This was right at the Daily R1 as well, so doubly bad...
Mindful to not make those mistakes again...
Only one TP at 75 pips, since I only traded 0.1 lot.
Still got EU and AU in play.
Update soon when they close.
PPPIgnored
Disliked30-5
GBPJPY 1: 25+35+50+99=209 pips
GBPJPY 2: 25+35+50+91=201 pips
The purpose of these trades was to check whether the UpdateStops(2) was working OK (of course in my demo account). I had some problems with the scaling out EA before. It sometimes worked alright but other times it did not work properly. This time I downloaded the EA from the first page of this thread. Thus, it was not my usual trading time. In fact, I entered twice; after a small retracement I entered a second one. I would not have done normally.
After checking the S/L worked...Ignored
Disliked30-5
GBPJPY 1: 25+35+50+99=209 pips
GBPJPY 2: 25+35+50+91=201 pips
After checking the S/L worked OK and 1st T/P (25 pip) was hit, I took a nap. Two hours later, I was so surprised at the results. All three T/Ps were hit and the last one went up over 100 pips.Ignored
DislikedJust testing the water!
Closed both because of negative divergence on the TRIX.Ignored
DislikedGood reasons to close trades or take partial profit
Daily range is exhausted or above 80% of daily average (5 or 10 day average)
R3 is hit
TP3 is hit
TS is hit
Opposite trade signal
Edit: Add:
Pivot level/Longer term Fibs/key support/resistance levels
Even if you notice a divergence on any indicator, there is no guarantee that a new high or low will not form. Often you will see an exhaustion move that could be big enough to produce a very good trade if all the trading conditions are met.
Divergence is speculation, PA is confirmation. The...Ignored
DislikedThanks Glen..will learn this lesson!
I really like (and it is easy to remember)... "Divergence is speculation, PA is confirmation"
Freddi
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