Gbpusd is coming to 1.42** as it broke lower but I am not trading now,like I said standing aside.
For the guy who quoted me,MOFU is MOFU... Nothing special like the other guy who answered you.
REGAL FX

shalom123:

*Gbpusd,take a buy if price close above mid MOFU zone @ 1.43650 or lower MOFU @ 1.43250 or upper MOFU @ 1.44050
REGAL FX

Playing out as price closed below lower @ 1.43250,don't mind my typing errors.
REGAL FX

shalom123:

Playing out as price closed below lower @ 1.43250,don't mind my typing errors.
REGAL FX

1.42852 is the point MOFU, time to reverse gbpusd...if it closes below,it's gonna be a nice long ride.

Shevychen2:
I am just laughing at all the comments directed to some transgender women here.. It's well.

Meanwhile, I have a little bit of time to write something for newbies. The lad above that has tabulated his earnings is doing a great job with telling himself the truth and ensuring accountability but I have a problem with his trading results. It is very negative and should not be used as gold standard in any way. I mentioned once that he has a good system that needs tweaking but don't know if he ignored or not. His strategy is somewhat similar to mine in terms of levels he watches but while I only take my levels from the daily chart, he takes his from lower charts at times which means lower quality entries.

Using that similar strategy, I have nearly 10% already this week and was only in the market from Tuesday. No trade today yet.

Apart from that, his style or something similar like my boss Capitals does is what any newbie should incorporate. LEAVE SHINY TOY INDICATORS. They are basically the same and will kill you hundred times over before you wise up. Of course I know all about the "use what works for you" mantra but is your indicator really working for you?

Here is something I got from somewhere else that encapsulates my trading beliefs.

1. Pros don't predict or chase price. They trade in the direction of the trend when price pulls back temporarily. They know that the trend is your friend and they will piggy-back on the momentum of a trend. However, they won't hold their trend trades for long, knowing that most of the trend's move has already taken place.

2. Pros know when to stay out and observe. Sometimes it becomes impossible to trade, esp. when markets range heavily or become too unpredictable. Pros know to trade only when the stormy clouds part and the market's picture becomes clear again.

3. Pros trade selectively not frequently and don't over-leverage. They take only the best trades as they know that this approach leads to the most profit. They know that trading too large and being in market all the time does not build accounts but rather destroys them.

4. Pros show no loyalty to a trade. They will prepare for a trade, making sure all the required elements of their method are met, while at the same time being willing to abandon it the moment the market changes or something unexpected occurs. Once a trade is closed, they move on to the next trade without letting the outcome of the last trade (good or bad) affect how they take the next trade.

I got this from http://www.forexfactory.com/showthread.php?t=584705 I don't agree with some of the things but 90% of the things there are hometruths for people that want to last long.

So if you are a newbie here, do these things.

1) Learn how to identify important price levels on the Daily chart (support and resistance, supply and demand anything you want to call it)
2) Learn how to trade these levels by entering in line with the trend (In a downtrend, only wait for price to get to pullback to resistance and sell etc)
3. Be patient enough to wait for the market to come to you (at your price levels)
4. Don't trade with any silly targets (set your logical SL and TP for each trade and take what the market gives to you. You can make 20% in one month and make 75% in another month as I happily recorded this march)
5. Ignore all those fancifully named indicators if you can. I know why I am repeating this. Extremely few traders have gone on to become successful with them.
6. Demo trade your strategy properly to know your winning percentage. This will help you figure out a good R:R to use in your trades. See the image below for ideas (thanks again to that forexfactory thread for the image, I didn't create it). A rule of the thumb is to use 1:2 RR. With this you only need your system to be right just 33% of the time.
7. Money management is vital. I won't dwell on what percentage is right but for your own good, protect your capital by all means. A recent case that happened here is enough lesson if you want to learn!

Apologies to the pros for the long post and this is not a "my way is better than yours" thing.
Cheerio.

very very good point here,,,the holy grail i have known for a very long time..... unfortunately,,,many trader will likely skip this long post because is not coming with that flashy arrow GREEN(BUY) RED(SELL)/map of Africa

for you that miss it i have quoted it here again to read.

Hello EVeryone,
here's my trade from wednesday till Friday,
Its been losing back to back, the market was ripping into me and I was bleeding very badly,
The truth is i didnt follow my simple set of rules,
I only take entries on H1 but in this cases, i was using my phone and entries where on M5 and M15 and i was greedy at it, so the market humbled me greatly,
These all happened on my live account, i stopped demoing last year,
and it really hurts having a losing streak, but it's all part of the learning process,
criticism is welcome both constructive and destructive
The market showed me who's boss, when i didn't act like one.

GBP/USD -5 + -31 + -50 + -37 + -24 = -147 pips



USD/CAD -18 + -28 + -58 = -104 pips



UCHF -51 + -22 = -73 pips



Total = -324 pips

And my Week 13 Account Summary for this week





Regards,
EF

Now,want to test waters bought gbpusd ,TP @1.43250 with SL 20pips below the close..am supposed to wait till the 4hour candle close sha
REGAL FX

Shevychen2:
Shevychen2

Can u kindly borrow me $300.sir . I will refund by July ending without fail. my system is base on price itself. I will be glad to share it with u. it is base on demand & supply analysis & no indicator needed. not those useless S& by d so called gurus. candle base . Just 3 pair & at least 2 signals a week. funny ur last post is all trader need & all dat I published in forexfactory last year

my fund is still trapped with Ogboraph

Oh gbp my friend u should have done this yesterday ,if to say i knw....jst kidding...uniformity on p.a rules.oh good lack guyes bck to my shell

frenchman2:
Bought gold 1232.45 tp 1250.00
bought nzdcad @ 0.9000 tp 0.9073
bought eurusd @ 1.1391 tp 1.1455
buy limit on usdcad @1.3009 tp 1.3136
Will close half of each of the positions just before NFP
let's see how they play out.

Got it wrong on gold. Closed -16
All others in green. Will close them all by 1pm

Hi, traders! Pls what is the current price of USD/CAD and GBP/JPY?

BTW, this one wey every dey beg for money so, Shey I no go beg my own?

Tom29i:


Can u kindly borrow me $300.sir . I will refund by July ending without fail. my system is base on price itself. I will be glad to share it with u. it is base on demand & supply analysis & no indicator needed. not those useless S& by d so called gurus. candle base . Just 3 pair & at least 2 signals a week. funny ur last post is all trader need & all dat I published in forexfactory last year

my fund is still trapped with Ogboraph

You Again.
You made someone else lose money,
while we were having you back, your greedy nature revealed itself,
now someone else got burnt, I have nothing to say to you.

Regards,
EF

dorodee:
Sold GJ @ 162.30... SL- 163.30... TP- 160.00
Lets see how it goes.

Trade Closed 30 pips to TP... NFP tinz... Na God!!

currentprice:

very very good point here,,,the holy grail i have known for a very long time..... unfortunately,,,many trader will likely skip this long post because is not coming with that flashy arrow GREEN(BUY) RED(SELL)/map of Africa
for you that miss it i have quoted it here again to read.

_{^{with this forex is made easy}}

Abi o.. Well I have said my own.. Person wey go hear go hear

surveycash:
@Shevychen2,
Nice image. How I wish most traders can interpret this practically?

If I understand sir, you are talking about the RR image? I believe it is self explanatory for anyone to practice. Simply make sure your system involves a 1:2 RR minimum with decent winning rate (at least 40% win rate but aim for 55% and above).

If you are talking about the overall idea I mentioned, here is an example:

I have gone through all the pairs I trade and only ECAD is nearing a zone I mapped out from the daily chart. So I have gone down to the hourly chart to watch for it to enter the zone and for price action to suggest that the zone will trap it and send it down because it is in a downtrend by my count. If price action plays out to show me any sign of weakness, I will enter a sell. That's the idea really.

^^Price was sharply rejected at the door to that level..

No trades yet as NFP is minutes away. If the rejection still holds at 2pm and price doesn't run away from me, that's a potential 200pips. So yeah..Enough tutorial for one day.

shalom123:
Eurusd... ...like I promised the next level for Eurusd is .14332...now I am watching this trade keenly.

Let's keep watching.
REGAL FX

Eurusd is close to that MOFU level,getting ready to sell the nucca might not be today.
REGAL FX

frenchman2:
Bought gold 1232.45 tp 1250.00
bought nzdcad @ 0.9000 tp 0.9073
bought eurusd @ 1.1391 tp 1.1455
buy limit on usdcad @1.3009 tp 1.3136
Will close half of each of the positions just before NFP
let's see how they play out.

frenchman2:


Got it wrong on gold. Closed -16
All others in green. Will close them all by 1pm

Closing all trades
Total profit +54

Eurusd got there and now let's watch which way she intends to journey... Anywhere she goes I follow, gbpusd few pips away to TP.

Feshizzy:


You Again.
You made someone else lose money,
while we were having you back, your greedy nature revealed itself,
now someone else got burnt, I have nothing to say to you.

Regards,
EF

if you guys don't have good things to say why not just keep quiet that add sorrow to someone. the future will tell

base on my price candle pattern i see a turnaround on some pair ,,, those on GPB short check well if you want to hold on to the short otherwise stay on the side line to learn. i see up up up

fxfavour:
Will b on d side line bro..

Wise choice dear Friend.

Regards,
EF

So Na so nfp be...
Gbpusd trade just 10 pips away to hit TP just turned around to hunt stop loss...I was supposed to stand aside like I said,seems am still working on my discipline.
REGAL FX

shalom123:
So Na so nfp be...
Gbpusd trade just 10 pips away to hit TP just turned around to hunt stop loss...I was supposed to stand aside like I said,seems am still working on my discipline.
REGAL FX

It was even 4 pips to TP not 10...well eurusd fall expected as it touched the MOFU up zone but stood aside for a reason.

EmmanuelD1st:
Sold GBPJPY @160.44 sl: 161.60

Happy Easter

Being away for alittle while...SL hit on this trade...entered again @161.90 sl:164.10 tp:155.00

Ogboraph:
i you guys don't have good things to say why not just keep quiet that add sorrow to someone. the future will tell

Like him borrowing money I would never pay in his life time.
Or you losing all of it,
What good have you done so far?

The Tom dude lacks discipline at the highest order, he is taking a path that would psychologically destroy him, and guess what!!! he would be pointing fingers at your big head.

He's lucky today I'm giving out dope tips:

Firstly, forex should be a second source of income,

Secondly, Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose.

Thirdly, from personal experience don't take revenge on the market, it clouds your judgement and you are going to lose.

Fourthly, ....... Tom let's be honest you know no shit of this forex, it would humble you if you don't take precautions, don't let sugar coated words lure you, go start your reading again, and you should know, you need to go back to demo account and ease up a bit, don't rush too soon into a live account, the market would always be there waiting for your comeback, hopefully we would be here too to cheer you up but for now you need to discipline your self and be patient. Don't borrow that money to trade fx. It's not advisable, believe me, this is a learning phrase it would pass, in due time you would recover every cent the market has taken from you but for now, you need to ......... ahh!! My food is burning

Regards,
EF

EmmanuelD1st:
Sold USDCHF @0.9978 sl:1.0125 tp:0.9655

sl moved to 0.9662(+316 pips), TP modified to 0.9512

shalom123:
So Na so nfp be...
Gbpusd trade just 10 pips away to hit TP just turned around to hunt stop loss...I was supposed to stand aside like I said,seems am still working on my discipline.
REGAL FX

I hate to say this but I told you so,
NFP got no chill, it's a war out there, I'm just hiding in a bunker, it's the big players vs the sore loser game.
This is real life, here's where all indicators is rendered useless, here's where the market don't give AF about price action. It's all raw guts and your hard earned money at stake.

So Ama sit here, and sip some tea, while I watch the market trapping traders and swallowing them up .

Regards,
EF

EmmanuelD1st:
Sold USDCHF @0.9705 sl:0.9790

sl moved to 0.9662(+43pips), TP modified to 0.9512

Feshizzy:


I hate to say this but I told you so,
NFP got no chill, it's a war out there, I'm just hiding in a bunker, it's the big players vs the sore loser game.
This is real life, here's where all indicators is rendered useless, here's where the market don't give AF about price action. It's all raw guts and your hard earned money at stake.

So Ama sit here, and sip some tea, while I watch the market trapping traders and swallowing them up .

Regards,
EF

Thanks bro,like I said I was testing waters just a few page back. Meanwhile ,not a fan of indicators you will realise sooner or later that numbers are important(PA).
REGAL FX

Trying to upload pics since but no way,let me try uc browser...
OK I had to upload this chart to explain something... Don't want anybody missing this...
The chart is not very clear because I am usya phone, using a laptop will be better.
Observe the end of my chart you will see a red line below it ...on a monthly tf from march 2015 till now price has been in a MOFU zone moving up and down and today is the new month just after march ended... From the law price needs a good momentum to push out of a MOFU zone in other to break out which I think is happening today. This same thing happened some years back with almost this same pattern around march 2000 and the break out happened around june, July 2002 with a force 3 bull candle...this analysis I carried out some time ago just stumbled on it. I am not saying for you to buy or sell now but when the pair meets the requirements I placed,then I will trade it accordingly but now let's switch back to lower tf.
REGAL FX

Selling gbpusd now...lower lot,reason below... Cup and wedge with price breaking below all MOFU zones.
Usdjpy broke out too...Christmas should be close.
REGAL FX