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Success Guaranteed - Simply Trade Better

  • #21
  • Edited Apr 11, 2016 7:00am Apr 10, 2016 11:30am | Edited Apr 11, 2016 7:00am
While preparing my charts for this week, I noticed on the AU an inside candle on the weekly chart. I will be watching the daily and 4-hour charts to see how the price action pans out.

KP
Do your homework, follow the footprints of smart money
  • #22
  • Apr 10, 2016 11:13pm Apr 10, 2016 11:13pm
Going long on GU.
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Do your homework, follow the footprints of smart money
  • #23
  • Apr 11, 2016 2:50am Apr 11, 2016 2:50am
The reality of the PA on GU atm is that it is trading sideways, aka ranging. I will watch how to exit the trade at BE or minimal loss. The daily outlook seems to favor a southward trade.

KP

Quoting KeenPips
Going long on GU. {image}{image}{image}
Do your homework, follow the footprints of smart money
  • #24
  • Apr 11, 2016 3:09am Apr 11, 2016 3:09am
Trade closed for a small profit. I will wait for clarity.

KP


Quoting KeenPips
The reality of the PA on GU atm is that it is trading sideways, aka ranging. I will watch how to exit the trade at BE or minimal loss. The daily outlook seems to favor a southward trade. KP {quote}
Do your homework, follow the footprints of smart money
  • #25
  • Apr 11, 2016 3:36am Apr 11, 2016 3:36am
Southward trade taken around 50 Fib.

KP
Quoting KeenPips
Trade closed for a small profit. I will wait for clarity. KP {quote}

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Do your homework, follow the footprints of smart money
  • #26
  • Edited 7:00am Apr 11, 2016 6:44am | Edited 7:00am
Sideways/ranging PA atm.

Quoting KeenPips
While preparing my charts for this week, I noticed on the AU an inside candle on the weekly chart. I will be watching the daily and 4-hour charts to see how the price action pans out. KP
Do your homework, follow the footprints of smart money
  • #27
  • Apr 12, 2016 8:30am Apr 12, 2016 8:30am
If you would follow another trader's analysis, make sure you understand their assumptions and trading strategy and feel comfortable about such.

KP
Do your homework, follow the footprints of smart money
  • #28
  • Apr 12, 2016 4:53pm Apr 12, 2016 4:53pm
When it comes to using indicators, the fewer the merrier.

KP
Do your homework, follow the footprints of smart money
  • #29
  • Apr 13, 2016 1:02pm Apr 13, 2016 1:02pm
I find RSI a useful indicator for trend momentum, particularly on HTFs. However, I don't use RSI in the standard 'overbought/oversold' way but as part of a confluence of factors for trade entry. Now, I am finding MARSI, i.e. RSI + MA, a better proposition; though currently in the testing mode.

KP
Do your homework, follow the footprints of smart money
  • #30
  • Apr 13, 2016 2:43pm Apr 13, 2016 2:43pm
‘Your well-being depends on your own decisions.’ – John D. Rockefeller
Do your homework, follow the footprints of smart money
  • #31
  • Apr 14, 2016 12:17am Apr 14, 2016 12:17am
Use a top down approach: HTF to LTF. Trade in alignment with the HTF or wait until your LTF signals align with the HTF.

KP
Do your homework, follow the footprints of smart money
  • #32
  • Apr 14, 2016 11:54am Apr 14, 2016 11:54am
One of the things a newbie should learn as fast as they can is how to do their own trade analysis and read the market. You get to this level by spending time watching price action and market conditions, and learning the factors that are behind what is happening in front of your eyes. This will take time. But by doing this and not relying on other traders to make trade decisions for you, you will be taking a very big step towards your long-term trading success. Of course, you should be ready to accept that you will never be right 100% of the time.

KP
Do your homework, follow the footprints of smart money
  • #33
  • Apr 14, 2016 12:08pm Apr 14, 2016 12:08pm
Nuggets:

'I focus my total attention on trading well, and let the results take care of themselves.' – Tom Basso
Do your homework, follow the footprints of smart money
  • #34
  • Apr 14, 2016 12:31pm Apr 14, 2016 12:31pm
In the past two months, I have used much of my free time to learn one thing: Various ways of identifying and effectively drawing support and resistance zones. This is one of the basic things a trader should learn and master.

KP
Do your homework, follow the footprints of smart money
  • #35
  • Apr 14, 2016 11:37pm Apr 14, 2016 11:37pm
Going long on GU; relevant signals on HTF favoring a northward push

KP

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.
Do your homework, follow the footprints of smart money
  • #36
  • Apr 15, 2016 1:23am Apr 15, 2016 1:23am
GU ranging atm. I have entered too early. "ll watch pa for clarity.

KP
Do your homework, follow the footprints of smart money
  • #37
  • Apr 18, 2016 12:00pm Apr 18, 2016 12:00pm
It is important to get clarity on the trend direction and the market condition before entering a trade. Also, you have to ask yourself, what one thing must have to happen before you commit to a trade direction. One of the rules in my trading plan is to look for an alignment of one particular indicator on two HTFs before I enter on the LTF for precision. Even though I have it as a rule in my trading plan, I failed to do this on a number of occasions. Just reviewing my trading plan shows how potent that rule could be to help me avoid poor trades and position me for profitable trades.

KP
Do your homework, follow the footprints of smart money
  • #38
  • Apr 18, 2016 2:07pm Apr 18, 2016 2:07pm
Hi, Keenpips

Congrats on getting far and posting an honest account of your trading.

Green pip!

MT
  • #39
  • Apr 18, 2016 2:09pm Apr 18, 2016 2:09pm
Thanks for the encouragement, MT.

Green pips to you.

Quoting mytrader1961
Hi, Keenpips Congrats on getting far and posting an honest account of your trading. Green pip! MT
Do your homework, follow the footprints of smart money
  • #40
  • Apr 19, 2016 1:37am Apr 19, 2016 1:37am
Owing to a mistake I made on one of my accounts earlier in March, I am now incurring some losses. Today, I took a step to reduce my loss by closing one of the trades.

KP
Do your homework, follow the footprints of smart money
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