FOREX PRO Weekly July 16-20, 2012

[D.R.&Quinch]

yes u r right, only meant to do that when i percieved forum was quiet.
software changes at mo so cant post charts as im not happy with their educastional value
will stop being weak

 

[asif faryad]

yes u r right, only meant to do that when i percieved forum was quiet.
software changes at mo so cant post charts as im not happy with their educastional value
will stop being weak

Thank you...
And my observation from your chats with Minimax ,as i am know consistent trader thanks to Sives Anyalis BUT MOST IMPORTANT HERE IS THAT IF YOU WANT TO MAKE THIS A BUSINESS..

You need to address the following ::::: Trading is 95% phyocolgy in fact if you read the book that Minimax very kindly posted Trading Cauous and read few chapters it illustrates this beautifully!! My favourite book my daily trading plan incorporates reading 1 chapter every day is Trading in the Zone by Mark Douglas...

You need to start thinking like a professional trader..

Second MOST IMPORTANT WRITE A TRADING PLAN ACCORDING TO YOUR TRADE STYLE ACCOUNT SIZE ETCCC

Then test out your system and if it works say 70% of the time you have a VERY GOOD EDGE...

Then just trade your edge according to your written plan... and enjoy your day!!!!

This took me 5 years to achieve!!!

Asif

 

[D.R.&Quinch]

my plan is based on . Price, corrective pattern, momentum on two timeframes and time.
I use D levels to find confluence as dinapoli says. am investigating his weakened stoch /macd idea.
have yet to find a package to backtest, dont want to use MT4.
have spent 11 months reading only non fiction, so need another few years yet!
yes i have got my position size wrong several times!
asif any guidance always welcome

 

[asif faryad]

my plan is based on . Price, corrective pattern, momentum on two timeframes and time.
I use D levels to find confluence as dinapoli says. am investigating his weakened stoch /macd idea.
have yet to find a package to backtest, dont want to use MT4.
have spent 11 months reading only non fiction, so need another few years yet!
yes i have got my position size wrong several times!
asif any guidance always welcome

Position size Risk management as guide should be preferably 1% of your account size per trade i personally as i have got a little experienced use 2 or 3% but a reduced lot size sometimes..

Example if you have a £50,000 account 1% allows you £5000 for a trade...

So thats why people with smaller account sizes get burned as they over leveraging using up to 20 30 % per trade take 2 losses and your done!!!

Asif

 

[D.R.&Quinch]

Yes i have enough for more than one position amount with my spread provider. this has helped my average alot

 

[D.R.&Quinch]

gold is looking strong, which may have some effect on Bernanke speech, possibly making QE more on the cards
i think this could really dent the dollar

 

[asif faryad]

gold is looking strong, which may have some effect on Bernanke speech, possibly making QE more on the cards
i think this could really dent the dollar

Always remember my friend that the Market is moving ahead not backwards..
The price has already been factored ahead of the event!!

Thats why when news event takes place price moves in opposite direction as to what a new trader may think as already was factored in...

Asif..

 

[D.R.&Quinch]

well that has done my head in! is this what causes the whip in one direction first on news releases?

 

[asif faryad]

well that has done my head in! is this what causes the whip in one direction first on news releases?

))) Yes go have a beer!! mate and chill for a bit have a look at your written plan and if have not written one Write one..

Do some positive reading as i say the book that Minimax posted Trading Cauous or Trading in the Zone... and i bet you you will answer a lot of your obstacles!!!!!

Best..

Asif

 

[DJG]

Hi all , is there anyone else having trouble connecting to mbtrading ? their service has been acting up all morning agh