Trade With Me -Trend, Range, & Analysis

did u closed ur trade?

" "...............yes i did,it did not hit my t.p....wasshort by a pip......but closed 25 pips profit.........

My next trade sell AUDUSD:



update:

Classic stop hunting - fortunately i was too busy to trade... avoided that stopout. I hope you learned Mario. They are more likely to knock the closest S/R level stops only

Just Win 33% of you trades at >=1:3 RR. You are baically at break even or better. Add just 2% on the win rate, you live "comfortable" (Depends on Capital)

GBPUSD atleast until Tuesday



Might be stopped out on this one but on Tuesday i expect the price to be higher than Now

1. I think the FOMC should refrain from raising the federal funds rate (our traditional short-term interest rate policy tool) until there is much greater confidence that inflation one or two years ahead will be at our 2 percent target. I see no compelling reason for us to be in a hurry to tighten financial conditions until then.
   
   There you have it

This caused a USD to fall today

More recently, policymakers in several jurisdictions have discovered that zero is not the lower bound on interest rates. The reason is that it is not costless to hold currency: there are costs of storage, and insurance costs to cover the potential for theft of or damage to the currency. We do not know how low the interest rate can go--but do know that it can go below zero. Whether it can be reduced much below minus one percent remains to be seen--and many would prefer that we don't go there

How to trade forex?

These are things you will have to be comfortable with

1. Finding an edge

Forex edge is what happens more often in the market
Let's say you have spotted that almost everyday at 6am GMT - Pound pairs forms a high or low. What does that mean to you?
It means you have spotted something that happens a lot in the market. Now what is left is knowing how to take advantage of it.


2. Trading Method

Let's say your rules will be from 0:00 GMT to 06:00 GMT - you will check the direction of the market (with or without any oscillator indicator). If it was rallying, from 06:00 onward you will look to sell, that is looking for your sell signals. If from 0000 to 0600 it was going down you will look for long signals.

Since the market has proven that it forms High/Low(s) almost everyday at that time. you should be in a position to catch the turning points almost everyday too

Almost everyday in Forex is anything from 60% to an unlikely 100% - that is you will be spot on in at least 60% of your direction bias. Being spot on on the direction doesn't mean you will will the trades because, stop hunting, news and other things might whipsaw you at anytime in the market.

Avoiding whipsaws, place your SL (stoploss) above/below the recent swing, depending on your trade direction. This will increase your chances of taking profit.
It is also important to have a positive RR ratio. 1:2, is what i call a good starting point. This RRR together with a 60% win rate should keep your head afloat.

The 3rd most important thing to keep you afloat is making sure you repeat all the above in each and every trade you take.


3. THE DO NOTs

Don't trade live if you haven't found something that happens more often than not in your charts.
Don't trade with a less than 1:2 Risk:Reward Ratio
Don't Chop and change your entry rules --- To curve fit a trade

BOTTOM LINE

Only you can spot what happens on the charts you watch everyday, not any Forex Guru who, 1 has different personality than you, 2 uses a different broker than you do, 3 has a different capital than you, 4 uses different times to trade than you.