Forex PA & Technical Trading - My Journey to Sucess

Covered some and still holding EU shorts

Can't trust EJ at all. But love to trade this pair. Tried 02 shorts and holding with negative pips. Stops not so far away.

Can't see any near support levels for the pair. Next support level comes around at 1.2860.

AU trading at the major supply zone. Waiting for pair to reach 1.0400 to try a low risk short entry.

Took this trade and still holding. Poor movements atm. May be next week.

Grabbed nice pips from Gold trades. See you guys next week.

Very Nice story from my Master "Chris Capre"

Recommend to any trader here on FF. Feel free to share your thoughts.

The Beggar and The Trader


There is a story about a beggar several hundred years ago from a small village. He was orphaned at a young age, and with no education and family, he had to fend for himself. He was reasonably intelligent and able, despite his challenging start. Living in a small village his whole life, since the village was abundant, he was able to beg for food and receive what he needed to survive.
He tried several times to find menial work to give him some basic subsistence, but was unable to find any.

Difficult Times

Later, some hard times fell upon the village, and many people were struggling. The beggar went around the village asking for food, but many were unable to offer him any. He went without food for some time, barely maintaining his energy living off what little he could find.
Eventually, after struggling for many months, unable to find any work, he decided to leave the village and go to another looking for food. Working his way up the mountain, unfortunately he was unable to find any food or work in the nearby villages after his repeated efforts.
Now days later, it was getting dark, he started to lose hope and realized the end may be near. He eventually found a cave which was empty to rest in, and spend his last moments. He was sad because he really felt he could do something in this world, but was unable to make things work.
Dark and barely able to see, he started to lie down on this rock, and noticed it was really warm. He thought to himself, ‘Oh wow, this rock is really warm. I am glad I was able to at least feel warmth while I rest here‘.
Shortly after closing his eyes and falling asleep – he died…

In the Very Same Cave

The next day, a group of explorers were looking for something on the mountain, and passed by the very same cave as the beggar just passed away in. As they entered the cave, they noticed a motionless person lying on a rock, and realized he had passed.
Out of respect, they decided to bury him, but when they moved his body, they noticed something that sparkled really bright. Under the man’s head where he was resting when he passed, was gold.

Akin to Beginning Traders

This story is very similar to many beginning traders who come to trade the forex market. They see the potential of what forex trading can offer, but stability, consistency and success seem just out of reach.
They often try a system for a short period of time, but then abandon it if it doesn’t make them a million dollars after a few months, let alone with the first few trades.
What many fail to realize, is that the actual gold they were looking for (a consistently profitable system), was right underneath them the entire time. They likely have been resting on something highly valuable, but because of doubt, limiting beliefs, and unrealistic expectations, are unable to see what is in front of them. When encountering obstacles, instead of working through them, they abandon their system, and look for the next best thing.

The Main Difference

I think the main difference between profitable and unsuccessful traders, is in how they approach the market. Consistently profitable traders do not analyze or value their abilities based on their last win or loss. They are trading and thinking in probabilities.
What the consistently profitable traders are willing to do, was to work through their obstacles and challenges. They understood what they have available to them, and work at it until they are successful. They realize the pot of gold has been right underneath them the entire time, and all they had to do was dig – long, hard, and with the unfailing belief they will get to the gold underneath them.

I know of no profession, sport or skill based endeavor you can enter, that within a few months, you are operating at a professional level. Yet many beginning traders quickly abandon something if it doesn’t create a 45+ degree equity curve and hit over 80% accuracy in the first month or two.
What has fascinated me, is how I could teach traders the exact same price action or ichimoku systems, yet get wildly different results, with some being highly profitable and consistent – while others not. Usually those who stick with it regardless of the results eventually find their ground, and start to trade consistently and successfully.

Imagine a World…

I cannot imagine a world where Benjamin Franklin gave up after his first few rejections and failures, or Einstein not pursuing science after failing to get accepted at the Swiss Polytechnic school, or Michael Jordan never playing basketball after failing to make the Varsity team in High School.

The good thing is, whatever is separating you from being consistently profitable at this moment, is completely learnable. The mind has neuroplasticity to it, & without a doubt you can learn to trade successfully.

So keep digging for your pot of gold. Work with a trading mentor, continue to improve your systems edge, money management, and building your successful traders mindset. You might just be surprised what you’ll find if you keep digging.



* Hope You enjoyed the article. Special Credt goes to Chris Capre From 2ndskiesforex.

Great results mate. What a way to end the week ?

Thanks for sharing this mate. I am also a huge fan of Chris Capre. Includes very useful information for any type of trader.

Thanks Parox. Hope you also had nice week.

Hello Parox,


Yes, it is. That's why I included this article here on my personal journal. Nice to hear that you enjoyed it well.

Closed my previous AU short trade at the B.E. Unfortunately missed another short trade at 1.0400 during the revisit. PA looks bearish to me at the moment. Waiting for a clear signal to try a short.

Very nice pattern/channel on EUR/NZD pair. Pair failed to break the support level for a month now. Took a long trade targeting 1.5800 again.

Still waiting for 1.5250 on GU to take a low risk short entry.

Hello Robert,

Hope you had a nice weekend. I also strongly agree with this trade. May be EN trying to close the gap.


Good luck

Thanks for your input. That was a cool weekend with my friends. Hope you also spent a great one

I had one of the best EU trades today. Nearly 500+ pips on several positions.

Still Holding Few

Very bearish price action on EU. Don't know what the pair trying to do ? But hopefully we can see 1.27 if EU continues to sink further.

While locked in EU shorts. I missed a great long trade on USD/CHF

The EU was quite bearish over yesterday, today its been thrown into a consolidation
Yesterdays low seemed to have been on a support level tested last September. Sure it can be crazy.
just gotta wait for it to take shape.
Cheers
Danny