Simple and profitable trading style

Thanks again Ezzy

If finally formed we have to monitor the weekly recent high, 118.039, except a continuation trade setup is formed. When such is formed I move my TP as in EURUSD long. I believe I shared it here. The more you trade the more you know how to maximize profit.

EURJPY making move- continuation setup. Entry point is not met yet

Market open just like ordinary day. I was expecting much gap. Only EJ in my favour

9jatrader, isn't this looking interesting.

Its starting to develop into a potential set up.

9jatrader, I have a couple of questions about this system.

I presume that we need to wait for the weekly candle to close above / below the middle bollinger band. How long is that weekly candle valid for? What I mean is, do we need a valid daily candle within the following week?

Thanks
Ezzy

Am very sorry for late reply. Stochastic distracting me too much because it made more setups. If you follow the thread from the beginning I said it must be the same week that the weekly is closing/closed that the daily should close above the upper band for bullish trade. If the weekly closes/closed above the middle band and the daily refused to close above the upper band the following week it may work, but am scared of strong possible retracement

About USDJPY we must wait to break 118.119 resistance while stochastic remains on overbought region. This is because there is possibility of reversing from the level and form double tops. Patience is the game.

Psychology plays an important role is successful Forex trading as in other business. We should be prepared for possible strong retracement each time we get into position. I have observed myself that I have closed position out of emotion only to find out that it made another trade setup. EURCAD, EURNZD are my current example.

And so we need reasonable SL. It's wrong having particular number of pips for SL, like 50 pips, 100 pips and so. The number of pips required is determined by the volatility of the pair and the candlestick that forms the setup

The more we trade and make mistakes, the more we learn from them- only if we're ready to learn. I will never forget lesson I learn from NZDJPY long. It's helping to build the account back

I think from all trading style scalping is very simple that brings profit very rapidly.
Basically the retail trade depends on this short time trading approach.
But sometimes it causes a great a risk also. But if you have the currency pair which has lowest trading spreads , then you can scalp freely

The risk outweigh the benefit of scalping. Signal so unpredictable. Also you pay for spread, commission every now and then. Widen spread/slippage another headache

Another problems with scalping are the stress and freezing of trading platform. Just because we want to make money, do we have to face the stress of sitting at the computer catching few pips. Some traders have always complained that their brokers freeze their platforms during important news time. Professionals and trainers would say it's not their fault. This is because there so many traders placing trades at that hour. So the platforms can't take all. For swing/position trading no much trouble

EURUSD was almost dead- either bullish or bearish movement until yesterday when bullish formed on the broken resistance, now support. I still remain bullish, no changes for now

Great pity for EURGBP short. It's strongly retracing. No fear- the reason the weekly candle is used for SL

Thanks a lot for this thread!

USDCHF weekly seems to be a good setup, right?

Incline taking after can create huge benefits. Truth be told, there are brokers who have created exceptional track records utilizing such frameworks.
Be that as it may, there are likewise a few disadvantages to these techniques:

1. they are hard to stay with
2. extensive patterns can be rare
3. the conditions that imply the potential start of a pattern, are not visit.

This implies the system has a tendency to produce various losing exchanges. The hypothesis is that these misfortunes will be balanced by more rare yet bigger winning exchanges.
That is a hard pill to swallow by and by.

1.Breakout
GBPUSD Daily range
Advertises now and again go between groups of support and resistance. This is known as solidification.
A breakout is the point at which the market showcase moves past the limits of its union, to new highs or lows. At the point when another pattern happens, a breakout must happen first.
Breakouts are, thusly, seen as potential flags that another pattern has started.
In any case, the inconvenience is, not all breakouts result in new patterns. In Forex, even such basic methodology must consider chance administration. Thusly, you

2. Moving normal hybrid
Our second Forex methodology for fledglings, utilizes a straightforward moving normal. SMA is a slacking pointer that utilizations more established value information that most systems and moves more gradually than the present market cost.
The more extended the period over which the SMA is arrived at the midpoint of, the slower it moves. Frequently, we utilize a more drawn out SMA in conjunction with a shorter SMA.

See how it smooths out the value development?
At the point when the shorter, quicker SMA crosses the more one, it demonstrates an adjustment in the pattern. At the point when the short SMA moves over the more SMA, it implies more current costs are higher than more seasoned ones.
This recommends a bullish pattern and is our purchase flag.

Convey exchange
Our last technique is fundamental to know. It's a sort of exchange that is generally utilized by experts as well, so it is not simply an amateur Forex technique. The best part is that it is anything but difficult to execute and get it.
The embodiment of the convey exchange is to benefit from the distinction in yield between two monetary forms. To comprehend the standards included, how about we initially consider somebody who physically changes over cash.
Envision a broker obtains a whole of Japanese yen. Since the benchmark Japanese loan cost is to a great degree low (adequately zero at the season of composing), the cost of holding this obligation is insignificant.

Yea, it's another trade setup. But I have been in since 16th March,2017, using the strategy of using the weekly and the daily to get

It was faced with strong retracement, but in using the weekly bearish candle am still in the position. Happy trading