JLINE:

From the pics you uploaded, it clearly shows you don't have a trading plan...why did you enter those trades ? What were you thinking will happen in the pair ? Seeing you enter sell and buy within two days interval,were you really trading with the trend ?

I'm actually scalping the m5 and m15 charts on this pair using RSI and Parabolic SAR. But after blowing my small account for the 6th time, I decided to remove all my indicators and will now just use Fib retracement and trend lines.

@JLINE This is how I draw my lines. Need your opinion about it.

EURUSD WEEKLY ANALYSIS AHEAD OF NEW TRADING WEEK. https://atozforex.com/news/pre-french-election-eurusd-weekly-technical-outlook-2/

orfilla4:

I feel a bit guilty.

But thanks for the WoW and inspiration.

I've known this rule for almost a year already (I started live trading in May, 2016). I thought that the "trend is your friend" saying was easy to follow but unfortunately I forget about it during trading.

We'll see my progress. I'm going to post my trade history here.

Don't post your trade history.

orfilla4:

I'm actually scalping the m5 and m15 charts on this pair using RSI and Parabolic SAR. But after blowing my small account for the 6th time, I decided to remove all my indicators and will now just use Fib retracement and trend lines.

Its not about the strategy, its about you...I had prefer you use a longer tf too.

orfilla4:
@JLINE This is how I draw my lines. Need your opinion about it.

My opinion is irrelevant here and its also important you start trading with a laptop too...just do the obvious.
Learn,practise and participate.

Personal Development is an Important Part in Trading

"Men are anxious to improve their circumstances, but are unwilling to improve themselves; they therefore remain bound. The man who does not shrink from self-crucifixion can never fail to accomplish the object upon which his heart is set. This is true of earthly as of heavenly things. Even the man whose object is to acquire wealth must be prepared to make great personal sacrifices before he can accomplish his object; and how much more so he who would realize a strong and well-poised life."

~ James Allen



========================
Explanation:
Trading requires 2 things:

*Psychology/discipline (mental training, emotional quotient)
*A proven system/method or strategy (Entries, exits, money management)
A proven system cannot work without the proper discipline to execute it. And discipline alone is useless if not applied to anything - a proven system.

Let me illustrate the importance of personal development:
Imagine that a proven system is like a car. To use the car (proven system) to its full potential requires a driver. Without a driver, the car is useless. Also, you can't just put anyone behind a wheel and expect them to drive. A person must first learn how to drive (personal development).

This is the reason why personal development is more of a priority. The driver is the key element, but first you must develop a person into a driver. You must first develop a person into a trader. You cannot just place any person behind a proven system... because they won't be able to drive the proven system.

It is not all about Entries, Exits, Money Managements, Systems/Methods and Strategies. Personal development and self improvement is an important part in trading. It is the major aspect in trading. 70%-90% of your success in this field will rely on your development.

pro traders do not always stick to that rule(trade with the trens) the know when to trade against the trend. as a pro trader they knw when rules need to be bend.

docus:
pro traders do not always stick to that rule(trade with the trens) the know when to trade against the trend. as a pro trader they knw when rules need to be bend.

So are you a pro trader?

Yhis information has been interesting. In my own opinion, self discipline is one of the key factor to becoming a successful trader alongside other necessities.

ENGOLEE:

The software is no longer on the internet because it was only released for sale 4yrs agos by a forex guru i follow. This software was used by a friend 2yrs back to make almost half a million within 2wks trade with just $200 capital. I trust it so much bro

The Holy Grail

The Meaning of Discipline

I've achieved several things in my life because I have the discipline. So far I am finding it a new challenge to be disciplined in trading. Is it a different form of discipline?

I need to critically analyze my situation. Why am I failing?
Make note: I need to study all aspect of being disciplined.
.....
I have only two objectives when I trade; Entry and Exit. Nothing else must occupy my mind. I can entertain myself with all the richest ideology when I am not trading.



========================
Explanation:
What is the meaning of discipline and what does it mean to be disciplined? Have you ever asked yourself this question? Can you answer that question? It is hard to perform something (discipline) if you don't know what it is or don't know the dynamics that makes it work.

I never liked most of the definition given to discipline because it doesn't explain how discipline actually works. Here are some definitions in a dictionary of what discipline means:

Discipline -

Training expected to produce a specific character or pattern of behavior, especially training that produces moral or mental environment.
Controlled behavior resulting from disciplinary training; self control.
Control obtained by enforcing compliance or order.
A systematic method to obtain obedience: military discipline
A state of order based on submission to rules and authority: a teacher who demanded discipline in the classroom.
Punishment intended to correct or train.
A set of rules or methods, as those regulating the practice of a church or monastic order.
A branch of knowledge or teaching.
So, knowing the definition of discipline isn't going to help you to perform discipline. Only by understanding how it works may help you perform discipline. So when someone tells you to be disciplined, you keep failing because you don't know exactly what you are suppose to be doing.

You might have heard the analogy that discipline is like a muscle. The more you use it, the more you build it and the more disciplined you become. I don't really like this analogy because it doesn't get to the root of how discipline really works

So let me simplify discipline in a simple formula:

Discipline = Getting it Done (Focus)
D = G (F)

Discipline is simply getting it done, just by doing it (just do it) you have performed discipline. To accomplish an objective is performing discipline. An objective to hit the gym everyday is to show you are performing discipline. Without any interruption to the objective. Accomplishing the objective without a halt. To perform discipline in trading is to accomplish your set objectives/trading plan/set of rules without interruption or derailing. Accomplishing (getting it done) an objective cannot occur without focus (F). You see, you focus your energy to get things done. Focus is the crucial factor in getting things done.

Here are example of failed disciplined:
Failed at losing weight: A person (bob) set an objective to lose weight. One of his goal is to not eat junk food/fast food. He failed because he ended up eating junk food.
Let's analyze what just happened. Bob couldn't get it done because of lack of focus. You could say he gave into temptation. Giving into temptation is losing your focus. Here are some of the things that were going on in Bob's mind (junk food taste so nice, hmmm yummy, just one won't hurt, a feeling of satisfaction). These are distractions that runs through his mind if he is not focused.

A person failing to exercise: I'm tired, I'll do it tomorrow, it's raining, it's cold, it's late, etc....
A person who is lazy: I'll do it later, I don't want to do it, I'm tired, I don't know how, etc...

A Disciplined person: Just do it.
This is the main thought that occupies a disciplined person and usually nothing else.

The bottom line is that a lack of focus leads to excuses and distractions, which will lead to unaccomplished objective (undisciplined).

Undisciplined trader during trading: I'll be rich, it will turn around, just a bit more, because of x it should go up, I'll enter before everyone else does, I can make a quick profit, any other excuses against a trading plan, etc...

Disciplined trader during trading: Entry, Exit and nothing else.

To achieve Focus requires concentration not to get distracted. To achieve Focus you must eliminate the distractions. Lack of Focus leads to excuses/distractions, which will lead to unaccomplished objective. Getting things done requires a degree of Focus. Getting things done is discipline.

Discipline = Getting it done (Focus)
D = G (F)

When you break it down: Discipline has nothing to do with emotions, but emotions can distract/destroy discipline.
No amount of positive self affirmation is going to get you disciplined or get the job done. Actions (Just Do it) gets the job done... And actions are only triggered by a sharpened Focus (F).

docus:
pro traders do not always stick to that rule(trade with the trens) the know when to trade against the trend. as a pro trader they knw when rules need to be bend.

Swing traders/Counter trend traders

docus:
pro traders do not always stick to that rule(trade with the trens) the know when to trade against the trend. as a pro trader they knw when rules need to be bend.

yea
to be precise, in the actual sense of the context, they donot always follow this particular rule, they try to identify if the trend is about to change, exhasted or pull back.

one major reason i observe traders fail is inability to consolidate wins.
i.e 10% roi this minute , 30% loss the next hour!

The way I think and how I play by the rules of my trading... I would rather be BILL GATES personal servant (secretary) following him everywhere and anywhere than be one of his company managers,the reason being its more profitable to serve than to lead especially when you are not the BOSS.

Afterthought:
As a personal servant(secretary) following him everywhere and anywhere,automatically I attend all his meetings,seminars or annual report meetings even with the managers . while the managers will meet him only during just company meetings but I will get to learn how he thinks,communicate,respond to people and lots of things and even his perspective of life generally.
I would have learnt enough to start something just as big because the servant is always greater than the master if he served truly.

How it applies to trading: why ride against the trend ? Why being concerned about what the pro think or do because personally I don't care ? All you want are on chart already. Just follow and serve first then use the information I.e when you see a change in trend, don't jump in at once observe for a while with a lower TFS for some criteria for trend change then enter at same lower TFS before the trend change occurs in the larger TFS and you would have used the information learnt to your advantage.

It's been a nice time reading and posting stuffs here just to inspire...Some of the stuffs posted are not entirely mine and was copied while I also edited it.
Do have a safe and wonderful trading week ahead.
SHALOM

Please don't get offended as I used servant as same as secretary... That's how I see it,to me no much difference.
Thought to say this before I get nailed for this.

Anyone have contact of pipsbasketing?

Great stuff you posted bro. God bless you oga JLINE.

olalol:
Anyone have contact of pipsbasketing?

He had a Facebook group which i joined then but they moved off to telegram group. but i didnt join then cos i thought the facebook group will still be active but wasn't anylonger.

Guys do you have a telegram group?

Nairaland is not fun for realtime analysis and discussion on trades...

Btw, does anyone have any experience with John Anthony, I'll appreciate any review from u guys.

I've been on fxchoice ECN for a while but I'm planning on switching broker after i experienced glitches with their server.
Cheers

wuyexzy:
Great stuff you posted bro. God bless you oga JLINE.
He had a Facebook group which i joined then but they moved off to telegram group. but i didnt join then cos i thought the facebook group will still be active but wasn't anylonger.

I joined the telegram group through a link in those days but the pipsbasketing is no longer posting to the group long ago.

There is a 200pips gap up on EU currently...uj currently at 110.** ...hoping reality turns like this.
Election things

olalol:
I joined the telegram group through a link in those days but the pipsbasketing is no longer posting to the group long ago.

Plenty bad mouth na him make pipbasketing stop wetin he been dey help men do then...everybody wan dey flex muscle instead make them just sitdown learn or get out from the group. Everybody wan turn teacher...that guy is a super profitable trader

Oh man.. what kind of gap am i seeing on some pairs today biko nu! Damn!

I have seen some arguments recently about importance of trend in trading and the likes. For the benefits of those who are new to fx market here, i will repeat some of the things that you MUST never neglect as a trader. I am not a guru neither act like one, but there are non negotiable rules you must put into learning if you want to be successful for long.

I will do the summary.

TREND
MOMENTUM
SUPPLY AND DEMAND
ORDER FLOW
All these are powerful trading methods on their own. It is left for you to build a system around these or trade naked as long as you are able to recognize them on a naked chart.

If you dont learn all these and be able to recognize all these in the market, no matter indicators or system you use or how "indicatorless" your chart can be, it is bound to fail within short period of time.
If you really know some of the way BIG BOYS "manipulate" market to their favor, you will join them to make money. It is difficult at times, but you wont miss it if you train your eyes well.

Personally, i am inter day trader mostly looking for more than 50 pips to hundreds of pips at a move and can run for more than a day and i like it that way, i have a scalping method also for recovery and aggression which i rarely use.

Just look part of my trading system below (please dont mind my colors, i like it that way), how easy i can train my eyes to see those things. If those good conditions are not met, no trading. I am sorry to bother some people reading this, but when i see some misleading and or try to believe that only robots can give you quick money, that may not be true. Be your own system builder and train your self to trade what you see and what market offers you. No negotiation about it.

Again, i said am not a guru, but with little years of experience i have fx market, you neglect those stuffs, you might have difficulty in sustaining your self in this journey. Every long term profits works together around them and no amount of barrier will stop a moving train.
Learn these things and you will understand the simplicity of forex market. It is not a matter of i may be wrong, it is a matter of facts that is not negotiable.


Have a pipping week ahead

JLINE:
There is a 200pips gap up on EU currently...uj currently at 110.** ...hoping reality turns like this.
Election things

You see reason i closed all my open trades on friday? it is expected. Which way? i didnt know but hunting SLs will always be their ways in such an upcoming events. Over 350 pips on EJ too. Hope you make money , bro?

priceaction:


You see reason i closed all my open trades on friday? it is expected. Which way? i didnt know but hunting SLs will always be their ways in such an upcoming events. Over 350 pips on EJ too. Hope you make money , bro?

Am one hearted trader bro and the trend is always my friend.
Gj hit TP like mentioned before at 141.** I have to close manually now...I didn't take the Audjpy trade but I gave it here...uj hit to too.

Sorry guys,we couldn't hit the 3000+pips as promised cos of the election... The plan was to get several entries along the way but the election took price to TP too fast.
Am off all trades now,left with gbpusd sell and gold sell too. I personally made more than 3000+ pips I think (3500+)...pics tells it all.

Nice one bro.
I will wait until day break to see what they have to offer too if i see good set up, because, it will still drop especially those erratic spikes. I know many accounts would have gone today, while many traders too (like you) will be laffing

JLINE:
Sorry guys,we couldn't hit the 3000+pips as promised cos of the election... The plan was to get several entries along the way but the election took price to TP too fast.
Am off all trades now,left with gbpusd sell and gold sell too. I personally made more than 3000+ pips I think (3500+)...pics tells it all.

Chei.. ur sleep this night go dey very sweet

I show audjpy @@ market open

Hahaha...where is that guy that took gold sell with me. Oya close it sharply now now ....
Now left with only GU sell,expecting a drop off.