EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
How to improve your decision--makingh between Nasdaq100 and SPX by watching technicals in bond yields - Details in video description.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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do you have a plan to short euro lets analyze
2. Bang on with that trying to double your profits.
3. As i keep my positions small so i try to manage them out at breakeven however depends on the trend for eg i will never try to manage a short euro at 1.32 lolz . i do keep sl but either very close or very far depends upon the market mood. for e.g cable short 1.528 sl 1.5320 basically to reenter at 1.5380. however in any case i put sl above the range in daily chart and most of the times this range is 50 to 100 pips from my entry.
4. identify various supports and resistances add on the strong ones and sl above or below the weekly resistances
1.never try to make back a loss, if you take a loss walk away come back later when you made peace with the loss
2. I still have a hard time with placing stops, I find that the market will most of the time take my stop then run for my original target (this is one reason I have a hard time with 2 to 1 ratio )but the golden rule is still once you have placed a stop do not move it more then ten pips off
3. after having some good trades don't try to take one big trade to double your profit, you will probably loss more then you made.
let me know what you think, I have more
sometimes I cannot enter a trade because I cannot find the right level for a stop.
1. Buy or sell risk in atleast two pairs such as if you wanna go long USD sell eurusd, gbpusd or audusd or a couple of small positions in each.
2. Always Keep a yen pair like audjpy for longs to give you some benefits of carry trade and diversify your trading log.
3. Trade in mini lots even if you have a big account as it gives you psychological advantage for e.g loosing 200 or 2000 pounds is much worse than loosing 20 or 200 pounds specially psychologically besides this it gives you lots of holding power which is very important in this game as you will be much more comfortable to hold a 200 pounds loss rather than a 2000 pounds.
4. Dont chase the market let the market come to you.its like either you can wait at the platform for the train or try catching it by running after it.
5. Be patient with your profits and uncomfortable with your losses.
Its hard to believe the way euro fell that any one will loose money but people did lots of them actually lost. For me it was the first euro bear market but even with six months of experience behind me it took me almost two months to settle with it, i was a rookie and even the most simplest equation was complex for me. Most of the traders loose all there cash by the time they have learned to survive. I believe the key is experiencing every kind of market and surviving in it. So i think any one who can survive a year or two even at break even eventually becomes a good trader.
1. who were sure EURUSD would drop from 1.45 to 1.32 and yet failed to make any profits (because they tried to chase the market downwards or upwards or play the rebounds and lost).
and;
2. those who successfully played the corrections w/out a care in the world about the major downmove
and;
3. those who made money both ways or ..either way of the above.
Ashraf
But to respond to a few points:
@Rrose: I'll take your word for it. So, assuming he predicted Friday's upmove, did you see it in time and did you make money from trading it?
Crowd Psychology/ Mass psychology: I have seen it claimed that TA "works" because it is supposed to (somehow) represent the mass psychology at work in the market. However, I don't know how this can be proved. Has anyone done any research to try to prove it? If it is unproven, I don't know how this can be stated confidently (although you see it stated all the time).
@Catnip: I assume you are talking about mathematical models. Interesting idea. Hard to do in practice, I would have thought. I suppose that the "wave" of the EW is like a kind of whiplash responding to the pulse of the "signal"? I agree with you that the markets are interconnected (that is after all the basis of this site, I would have thought) so it is a bit pointless trying to analyse one market in isolation. On the other hand it seems quite difficult to analyse them all together.
I'm going to copy this post to the "Trading" thread and see if anyone follows :-)