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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts: Season 21 (335816 Views)
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Re: Forex Trade Alerts: Season 21 by Nobody: 9:33am On May 05, 2021 |
infofirst: Drawdowns when in a losing position is understandable, but the metric system used also calculates DD on floating profit. It's like saying "hey i"m up 7% on the NSE30 Index but i have a DD of 1.5%" How do you have a DD when in profit. |
Re: Forex Trade Alerts: Season 21 by Kaesyrn(m): 9:36am On May 05, 2021 |
British Pound (GBP) Price Outlook: GBP/USD Range Trading to Persist then dump https://www.dailyfx.com/forex/market_alert/2021/05/05/British-Pound-GBP-Price-Outlook-GBPUSD-Range-Trading-to-Persist-MSE.html FUNDAMENTALS GBP/USD will likely continue to trade within the broad 1.38 to 1.40 range in place since mid-April unless the Bank of England moves aggressively on monetary policy Thursday. TECHNICAL Bearish Pennant, GBPUSD to fall to the 1.3700 area amidst ranging. USD INDEX to pump Positive news at NFP GBPJPY to follow suit albeit slowly 3 Likes
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Re: Forex Trade Alerts: Season 21 by Nobody: 9:42am On May 05, 2021 |
hegelian: Thank you. 2 Likes |
Re: Forex Trade Alerts: Season 21 by Donsheddy: 10:32am On May 05, 2021 |
What is really happening here 2 Likes
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Re: Forex Trade Alerts: Season 21 by alphaNomega: 10:54am On May 05, 2021 |
Kaesyrn: WHEN YOU SEE ARTICLES LIKE THIS IN FOREX, DO THE OPPOSITE! 5 Likes |
Re: Forex Trade Alerts: Season 21 by blackman007: 11:06am On May 05, 2021 |
infofirst: Word... 2 Likes |
Re: Forex Trade Alerts: Season 21 by Theyoungmaster(m): 12:08pm On May 05, 2021 |
Donsheddy: Looks like its trapping sellers slowly. I expect DXY to dump today or next. 1 Like |
Re: Forex Trade Alerts: Season 21 by romklef(m): 12:38pm On May 05, 2021 |
Hello! Profitable traders 3 Likes |
Re: Forex Trade Alerts: Season 21 by Kaesyrn(m): 1:22pm On May 05, 2021 |
alphaNomega: Quite understandable on level of trust and Market Makers Model MMM At London session open I took 30 Pips from my Short position and I closed on BE... I entered another short Again for 40 Pips TP and even if sellers liquidity is grabbed for the Long at NYSE me I go still enter am... Anyways please do support your assertion with an alternative analysis presupposing to Long the Cable 1 Like
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Re: Forex Trade Alerts: Season 21 by Kaesyrn(m): 2:25pm On May 05, 2021 |
Pump or dump for USD Index... Make or Break for DXY ... 2 Likes
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Re: Forex Trade Alerts: Season 21 by Eryyy92: 2:49pm On May 05, 2021 |
Nzdusd modified: TP hit 3 Likes
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Re: Forex Trade Alerts: Season 21 by Kaesyrn(m): 6:37am On May 06, 2021 |
⚓ FUNDAMENTALS ⚓ ⚓TRADER'S SENTIMENT ⚓ ⚓ CURRENCY INDEX ⚓ 1 Like
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Re: Forex Trade Alerts: Season 21 by Nobody: 7:52am On May 06, 2021 |
2 Likes |
Re: Forex Trade Alerts: Season 21 by Kaesyrn(m): 7:52am On May 06, 2021 |
Kaesyrn: Kaesyrn: GBPUSD in a tight Range and Consolidating badly that I almost couldn't pick an entry just set limits awaiting the Sell which I backed up with a Correlation from EURGBP which is currently on a Long to cover the FVG... Looking at some parameters to make sure I'm on the right side of the market when London session opens... London Session EURGBP Running in profits and has enclosed TP 1 & 2 but GBPUSD still sluggish We muevvve at NYSE... 3 Likes
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Re: Forex Trade Alerts: Season 21 by Nobody: 7:53am On May 06, 2021 |
Let's work on Psychology this morning.......A lot of you already have a working strategy but keep losing and never balanced! You have been trading for 3months and more, demo or live. In other words, you have taken more than 50 positions since you started trading. But what did you learn so far, what did you do wrong or right? Do you just let go and move to another trade? Do you just let go and move to another day? Do you care about past trades or NOT? You don't even have a simple journal of your trades, physical or virtual. These are bad habits, STOP and don't keep repeating that. When you lose 4trades on the same pair consecutively, STOP! STOP!! STOP!!! Look back on those trades and ask yourself the question: Did I not follow my set rules? If YES, you need more discipline to be strict on your rules, I used to have check cards for my rules before I entered trades. If NO! then why panic? keep doing what you are doing, your time will come. 10 Likes 2 Shares |
Re: Forex Trade Alerts: Season 21 by romklef(m): 8:33am On May 06, 2021 |
GabsonFX: |
Re: Forex Trade Alerts: Season 21 by Kaesyrn(m): 10:18am On May 06, 2021 |
Kaesyrn: EUR*** Pairs responded well to both FUNDAMENTALS and TECHNICALS at LONDON SESSION.... DXY Coming back up rn... 2 Likes
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Re: Forex Trade Alerts: Season 21 by Nobody: 10:37am On May 06, 2021 |
Re: Forex Trade Alerts: Season 21 by Theyoungmaster(m): 11:46am On May 06, 2021 |
Theyoungmaster: The dump has set in. I think traders are already pricing on the Fomc meeting.
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Re: Forex Trade Alerts: Season 21 by Kaesyrn(m): 11:51am On May 06, 2021 |
GBPUSD finally moving but surprisingly DXY dey drop... Oluwa wetin dey occur... Na now I see wetin occcur My TP SMASHED I come buy am join chop sweet 60 pips... Chop sell still chop buy it can only be GBPUSD my love... 2 Likes 1 Share
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Re: Forex Trade Alerts: Season 21 by blackman007: 1:07pm On May 06, 2021 |
Kaesyrn: This guy u Dey enjoy oo 3 Likes |
Re: Forex Trade Alerts: Season 21 by Kaesyrn(m): 1:41pm On May 06, 2021 |
blackman007: To successfully trade you actually need a good trading psychology and a good money management. The sooner you know that the sooner you will stop the hunting strategies and just develop what fits you from the knowledge you have or accumulated knowledge you have from other people's strategies and then make your own personalized trading plan so you can follow it without feelings. And over the time maybe improve it. And you will start focusing on improving your Trading Psychology and Money management so you actually successfully grow accounts and not burn them by your own trading psychology mistakes and poor money management. since no strategy in the world no matter how good you think it is, as soon as a bad trading psychology is applied and bad money management is applied you wont successfully grow a trading account but just burn it eventually, sometimes many times. untill the market humbly reminds you that its a probabilistic environment and the market does not move because of your strategy. but some people think that the problem is their strategy or they did not understand the strategy well, it might be true but still after fixing your strategy mistakes make sure you fix your trading psychology mistakes and money management mistakes. Just as how you remind yourself of all the confluences a trade has according to the strategy you are using also remind yourself of trading psychology facts before taking the trade and use proper money management to protect your equity at all times. I hope you start focusing on Successfully trading with any strategy you want, like, prefer, understand better, mix whatever you want and personalize it and make your own trading plan of it and follow it with good money management and good trading psychology 6 Likes |
Re: Forex Trade Alerts: Season 21 by Kaesyrn(m): 3:18pm On May 06, 2021 |
Kaesyrn: NYSE Opens with GBPUSD dropping nice pips... Would bank on this for sure... We should see at least price reach 1.3840 - 1.3800... 1 Like
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Re: Forex Trade Alerts: Season 21 by infofirst(m): 3:44pm On May 06, 2021 |
Kaesyrn: Well stated and I agreed. Poor trading psychology and bad money management destroys a good trading strategy outcome in the short and long term and then I have come to realize also that some people do not have trading strategy in the first place. You that is reading this...do you have a trading strategy or plan? Do you usually observe proper money and risk management? what about your trading psychology? Until your answers are yes yes yes before the breakthrough can come. The good news is that you can provided you do not give up the struggle. 5 Likes |
Re: Forex Trade Alerts: Season 21 by Kaesyrn(m): 4:16pm On May 06, 2021 |
infofirst: Thanks for your validation Chief... And yes I do If that was a direct question but I think the question is rhetorical for everyone else 3 Likes |
Re: Forex Trade Alerts: Season 21 by situations: 4:35pm On May 06, 2021 |
INDICES DOW 6|5|2021 DIRECTION BUY @ 34359 TP 100pips |
Re: Forex Trade Alerts: Season 21 by situations: 7:15pm On May 06, 2021 |
situations: INDICES DOW OUTCOME 6|5|2021
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Re: Forex Trade Alerts: Season 21 by situations: 7:16pm On May 06, 2021 |
got this to say i can suggest some good trades for those who want to make serious money this year wins upon wins |
Re: Forex Trade Alerts: Season 21 by romklef(m): 10:40pm On May 06, 2021 |
Kaesyrn: 100% well said |
Re: Forex Trade Alerts: Season 21 by romklef(m): 10:42pm On May 06, 2021 |
infofirst: TBH I lack dis last question |
Re: Forex Trade Alerts: Season 21 by blackman007: 6:55am On May 07, 2021 |
Kaesyrn: I read and reread this write up over and over again, bro you’ve said nothing but the truth... bless up my brother... |
Re: Forex Trade Alerts: Season 21 by blackman007: 7:44am On May 07, 2021 |
infofirst: The great infofirst, sometime you use to sound like a prophet lol, I guess most of the things you say is base on experience though, the simple strategy I’m using usually gives me a 1:1R, like if I risk 50pips, I can only get 50pips- 70pips on the 4hr time frame, I was doing that and things seems to be okay, but recently my friend whom we started learning to trade the same time uses 10 or 15 pips stop-loss to make that same 50pips, that’s about 1:5r sometimes he uses 5pips stop loss, I’m thinking of abandoning my strategy and learn the way he trades and picks his entries, but it has been really hard for me to do, because he picks entries on the 15 or 5mins chart, sometimes even 1min time frame and that is very hard for me to do, as far as I’m concerned his strategy or method makes a lot of sense because of the RR and for example if takes 7 trades I’m sure he will win 5 out of it which puts him on a very high level of profitability.... what do you advice or suggest I should do at this juncture other people’s tips and advice is also welcomed... |
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