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Success Guaranteed - Simply Trade Better

  • #101
  • May 12, 2016 11:01am May 12, 2016 11:01am
Quoting KeenPips
I have now successfully rescued my threatened micro live account from blowing up. Thanks to the new system I perfected in the last two months. {quote}
My attention now is to carefully build the account to the level it was. This has made me become more careful regarding taking trades.

KP
Do your homework, follow the footprints of smart money
  • #102
  • May 13, 2016 3:31am May 13, 2016 3:31am
In the last few days I have been monitoring additional pairs to add to my list. As a short to medium term swing trader, I need pairs with moderate volatility and that respond reliably to technicals. I have now added three pairs for a total of seven pairs to watch: AUDUSD, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDUSD and USDCAD. From this list I will pick 2-3 most trade-able pairs each week.

KP
Do your homework, follow the footprints of smart money
  • #103
  • May 13, 2016 5:40am May 13, 2016 5:40am
USDCAD is testing a strong S/R zone atm. There is still room for a northward push before the US data nevertheless.

KP
Do your homework, follow the footprints of smart money
  • #104
  • May 15, 2016 8:46am May 15, 2016 8:46am
Time to prepare my charts for the week. Here's what I'm seeing atm regarding the seven pairs I watch: AU, EU, GU, and NU have a southward disposition, while uncertainty in direction is reflected in EJ, GJ and UC. I'll wait till Monday for clarity for a bias on each of the pairs.

KP
Do your homework, follow the footprints of smart money
  • #105
  • May 15, 2016 9:14am May 15, 2016 9:14am
Quoting KeenPips
Time to prepare my charts for the week. Here's what I'm seeing atm regarding the seven pairs I watch: AU, EU, GU, and NU have a southward disposition, while uncertainty in direction is reflected in EJ, GJ and UC. I'll wait till Monday for clarity for a bias on each of the pairs. KP


A point to note for clarification: My opinion on EJ, GJ and UC is from the point of view of a short-term swing trader; possible to get a few pips north or south from any of them on Monday but nothing by way of conviction for much profit on them. The best bet, imho, is to stay on the sideline until the London open tomorrow. Any trader interested in short-term swing trading can visit trap the market.

KP
Do your homework, follow the footprints of smart money
  • #106
  • May 16, 2016 1:46am May 16, 2016 1:46am
Of all the seven pairs I watch the most feasible to trade atm for quality R:R is NU; disposed to a southward direction after a pullback on the 4-Hr TF.

KP
Do your homework, follow the footprints of smart money
  • #107
  • May 16, 2016 7:35am May 16, 2016 7:35am
Just noticed that the shooting star/bearish pin bar that formed last week on the GU weekly TF is at the MP. This is indicative of a further bearish sentiment for GU.

KP
Do your homework, follow the footprints of smart money
  • #108
  • May 17, 2016 2:04am May 17, 2016 2:04am
AU and NU are testing a strong daily S/R zone atm.

KP
Do your homework, follow the footprints of smart money
  • #109
  • May 18, 2016 1:40am May 18, 2016 1:40am
My bearish disposition on the following pairs subsist: AU, EU, and GU. Imho any fundamental shake-up to the north is not likely to be extreme, particularly for the EU where the pa is far below key barriers.

KP
Do your homework, follow the footprints of smart money
  • #110
  • May 18, 2016 5:38am May 18, 2016 5:38am
Quoting KeenPips
{quote} A point to note for clarification: My opinion on EJ, GJ and UC is from the point of view of a short-term swing trader; possible to get a few pips north or south from any of them on Monday but nothing by way of conviction for much profit on them. The best bet, imho, is to stay on the sideline until the London open tomorrow. Any trader interested in short-term swing trading can visit trap the market. KP


I had a buy trade on UC earlier in the week. However, the outlook has changed. Atm, the UC position is unclear for short-term swing trading although scalpers may still go north. The technical situation is mixed: the weekly tf is in conflict with the monthly tf. A better situation for swing trading will be that both are in sync. So, I am stepping aside.

KP
Do your homework, follow the footprints of smart money
  • #111
  • May 19, 2016 6:02am May 19, 2016 6:02am
Forex trading should be a planned business; it should have a set of functional and efficient system and strategies.

KP
Do your homework, follow the footprints of smart money
  • #112
  • May 22, 2016 4:07pm May 22, 2016 4:07pm
For the current week, I am still disposed towards a bearish AU and a bearish EU. However, both still have room for price correction at least towards the immediate resistance on the 4-hour chart.

KP
Do your homework, follow the footprints of smart money
  • #113
  • May 23, 2016 4:40am May 23, 2016 4:40am
Earlier today I took a bearish trade on the GBPAUD. My stop loss was hit. I later realized that I had been wrong because I failed to study the market structure and context. Generally, GA has been bullish for a while and any corrective pa has been very limited with small bearish candles.

KP
Do your homework, follow the footprints of smart money
  • #114
  • May 24, 2016 4:21am May 24, 2016 4:21am
Using S/R zones and other boundary-definition factors are important in my trading system. However, it is very important that I use the strong zone-definition factors or levels and so I rely much on the zones defined from the weekly tf. But recently, I have seen that I am not getting much by way of trade entry because I wasn't incorporating fresh zones contemporaneous with my set-up tf, the 4-hour chart. Therefore, I now draw an S/R zone freshly created on the 4-hourly tf; then wait for the price to pull back to that level.

KP
Do your homework, follow the footprints of smart money
  • #115
  • May 27, 2016 2:14am May 27, 2016 2:14am
I have been off trading for much of the week. Although not actively trading, I have been watching how the trades I took a while ago are progressing. One pair I may trade today is EURGBP. Green pips to you.

KP
Do your homework, follow the footprints of smart money
  • #116
  • May 28, 2016 11:46pm May 28, 2016 11:46pm
Quoting aStriker
{quote} Hey Keen, In my opinion this is a huge mistake that we all of us do. Sometimes everything works very well, and we still try to "improve it", this is where discipline could save you. To newbies, you should master your system before "trying" to improve it, unless you want to keep blow ing your accounts.
Very sage advise.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #117
  • May 29, 2016 7:11am May 29, 2016 7:11am
Quoting TooSlow
{quote} Very sage advise.
You will end up blowing up your account if you are jumping from one system to another in search of the 'Holy Grail' or if you want to make a perfect system out of a functional one you already have. But knowing the critical deficiency in your current system and trying to fix it to make it efficient or more efficient will yield good results; particularly if you already know exactly what you need to fix. Trade safe, trade well.

KP
Do your homework, follow the footprints of smart money
  • #118
  • May 29, 2016 7:35am May 29, 2016 7:35am
Quoting KeenPips
{quote} You will end up blowing up your account if you are jumping from one system to another in search of the 'Holy Grail' or if you want to make a perfect system out of a functional one you already have. But knowing the critical deficiency in your current system and trying to fix it to make it efficient or more efficient will yield good results; particularly if you already know exactly what you need to fix. Trade safe, trade well. KP
That is easy to see. Maybe people collect systems, methods and indicators as a hobby?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #119
  • May 29, 2016 7:42am May 29, 2016 7:42am
Quoting TooSlow
{quote} That is easy to see. Maybe people collect systems, methods and indicators as a hobby?
The reason why you see loads of FF members flocking to the 'Trading Systems' threads? Green pips to you.
Do your homework, follow the footprints of smart money
  • #120
  • May 29, 2016 8:02am May 29, 2016 8:02am
An amusing thought: indicators need only display words - wait, buy, sell, exit.
The computer code can determine when to trade, hence EAs.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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