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Success Guaranteed - Simply Trade Better

  • #41
  • Apr 21, 2016 6:03am Apr 21, 2016 6:03am
My trading system is based on price action at S/R levels guided by alignment of MA and RSI on two HTFs. This means that identifying quality S/R zones is important to the system as is the patience to wait for the right pa formation before entering a trade. I have been developing the ability to identify quality S/R zones, the patience is slowly emerging.

KP
Do your homework, follow the footprints of smart money
  • #42
  • Apr 21, 2016 6:51am Apr 21, 2016 6:51am
Current outlook: EU up, AU up, EG down, GU up, NU down.

KP
Do your homework, follow the footprints of smart money
  • #43
  • Apr 21, 2016 7:10am Apr 21, 2016 7:10am
Why do you demo trade? Demo trading should be for testing probable strategies and selecting the most functional and efficient one. As you demo trade, you begin to develop some trading rules which you incorporate into a trading journal. You trade the strategy you have chosen on a micro live account first for a period of time based on the trading rules you developed while demo trading.

KP
Do your homework, follow the footprints of smart money
  • #44
  • Apr 21, 2016 7:37am Apr 21, 2016 7:37am
It is very easy to get confused by the predictions on FF. While for the same pair and at the same time, some will say go north, others will say go south. What do you do? Check your trading platform and your own trading system. Which prediction is aligned to what you see on the two HTFs above your entry TF? That will give you greater confidence than simply following others' predictions.

KP

Edit: I am talking as a short-term swing trader, not a scalper.



Quoting KeenPips
Current outlook: EU up, AU up, EG down, GU up, NU down. KP
Do your homework, follow the footprints of smart money
  • #45
  • Apr 21, 2016 7:54am Apr 21, 2016 7:54am
Why am I on FF? To learn...and to share ideas; to keep improving for better trading and guaranteed trading success. I have seen one or two good FF threads destroyed by the egos of the senior members who influence such threads. In truth, the market is not about your ego; it's about the outcome of your trading. So, staying humble and learning daily is important. Like they say: 'Past result is no guarantee of future performance.'

KP
Do your homework, follow the footprints of smart money
  • #46
  • Apr 22, 2016 6:49am Apr 22, 2016 6:49am
Among the pairs I watch, the pair of the week thus far has been EG. Although I saw it late, a southward trade has been on offer since the beginning of the week.

KP
Do your homework, follow the footprints of smart money
  • #47
  • Apr 22, 2016 7:18am Apr 22, 2016 7:18am
I'll be surprised if GU doesn't continue being bullish today. It seems it's retesting the pinbar formed on daily and 4-hour charts;at a significant daily S/R zone.

KP
Do your homework, follow the footprints of smart money
  • #48
  • Apr 22, 2016 10:48am Apr 22, 2016 10:48am
Quoting KeenPips
I'll be surprised if GU doesn't continue being bullish today. It seems it's retesting the pinbar formed on daily and 4-hour charts;at a significant daily S/R zone. KP
GU still trading sideways in the daily S/R zone.
Do your homework, follow the footprints of smart money
  • #49
  • Apr 22, 2016 5:26pm Apr 22, 2016 5:26pm
Quoting KeenPips
I'll be surprised if GU doesn't continue being bullish today. It seems it's retesting the pinbar formed on daily and 4-hour charts;at a significant daily S/R zone. KP
As observed.
Do your homework, follow the footprints of smart money
  • #50
  • Apr 24, 2016 11:45am Apr 24, 2016 11:45am
Building the backbone for long-term consistent profitability in Forex trading is important. The basic building block involves using a trading style that matches your personality, developing a Forex trading system with an efficient trading strategy you have mastered, developing the ability to read and analyse the market with above average accuracy, settling on trading the account you can afford to lose, and learning to calmly trade the market with remarkable patience. Doing this will not come easy but the painstaking effort you put towards doing them will pay great dividends in long-term trading success.

KP
Do your homework, follow the footprints of smart money
  • #51
  • Apr 24, 2016 12:22pm Apr 24, 2016 12:22pm
Time to prepare my charts for the week. Looking at the NU you weekly chart, I saw a pin bar formed last week by a weekly/monthly S/R zone plus a southward sloping RSI. This combo portends a high probability for a southward direction for the NU this week.

KP
Do your homework, follow the footprints of smart money
  • #52
  • Apr 25, 2016 1:04am Apr 25, 2016 1:04am
Many traders of the GU thread believe the GU is bullish atm. May be, may be not. There is a rejecting candle on the 4-hour chart formed at a weekly S/R zone atm. So this should be invalidated first imho.

KP
Do your homework, follow the footprints of smart money
  • #53
  • Apr 25, 2016 9:17am Apr 25, 2016 9:17am
Stick to the trading system and strategy you are having success with until you see what you can improve upon.

KP
Do your homework, follow the footprints of smart money
  • #54
  • Apr 25, 2016 11:37am Apr 25, 2016 11:37am
It is important to take as much time as possible to master a simple and functional strategy. I have not done much trading in the past 1-2 months because I was testing the use of MAs with MARSI for both trend and mean reversion trading. This involves knowing how far you can go with the trend and when to revert to mean reversion trading. Why am I doing this? To give my trading higher probability for consistent success. Is there a price to pay? Absolutely; for example, taking some losses atm, and for this I am ready - which is equally important.

KP
Do your homework, follow the footprints of smart money
  • #55
  • Apr 26, 2016 4:49am Apr 26, 2016 4:49am
Making sense of the market can be difficult. Patience to wait and trade the pa we see on our platform is key.

KP
Do your homework, follow the footprints of smart money
  • #56
  • Apr 26, 2016 6:22am Apr 26, 2016 6:22am
A fundamental aspect of my trading system is the use of quality turning points, e.g. S/R and S/D zones. Using a top down approach, I need to first identify such turning points on two HTFs. Then wait to see how pa behaves at such turning points.

KP
Do your homework, follow the footprints of smart money
  • #57
  • Apr 26, 2016 6:36am Apr 26, 2016 6:36am
Quoting KeenPips
A fundamental aspect of my trading system is the use of quality turning points, e.g. S/R and S/D zones. Using a top down approach, I need to first identify such turning points on two HTFs. Then wait to see how pa behaves at such turning points. KP
Hi KP

This is exactly the way I trade nowadays. I've also lost a lot of money with the get-rich-quick mindset I had. I am more profitable by trading SR & SD levels than any other method. As you've mentioned earlier, we need to master the method we use.

What is your Tarde Expolerer name?

Do you use any PA indi's or SR & SD zone level indi's?

Happy Keen Pips for you
Ask and you look stupid for 5 minutes. Don't ask and stay stupid forever.
  • #58
  • Apr 26, 2016 6:44am Apr 26, 2016 6:44am
Quoting EeZeeTrader
{quote} Hi KP This is exactly the way I trade nowadays. I've also lost a lot of money with the get-rich-quick mindset I had. I am more profitable by trading SR & SD levels than any other method. As you've mentioned earlier, we need to master the method we use. What is your Tarde Expolerer name? Do you use any PA indi's or SR & SD zone level indi's? Happy Keen Pips for you
TE, KeenPips.

Indicators: Two EMAs for mean reversion/trend trading at HTFs with MARSI. Lol

Edit: Based on pa reaction at quality S/R or S/D zones identified on weekly and daily charts.
Do your homework, follow the footprints of smart money
  • #59
  • Apr 26, 2016 6:53am Apr 26, 2016 6:53am
Quoting KeenPips
{quote} TE, KeenPips. Indicators: Two EMAs for mean reversion/trend trading at HTFs with MARSI. Lol Edit: Based on pa reaction at quality S/R or S/D zones identified on weekly and daily charts.

Example of GBPUSD daily chart attached.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily_Example.png Size: 34 KB
Do your homework, follow the footprints of smart money
  • #60
  • Apr 27, 2016 3:53am Apr 27, 2016 3:53am
Watching EG, northwards atm. Rejecting daily pivot? Not taking it though as my hands are already full. I am doing this mainly to test my market analytical skill.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily_April 27, 2016.png Size: 33 KB
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH4_April 27, 2016.png Size: 32 KB
Do your homework, follow the footprints of smart money
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