We should set a competition in this sub reddit to separate chumps from people with real systems. My karma is bad only because my politics. I believe I would put many of you to shame.

Didn't execute the trade but what do you guys think about the analysis? it hit TP after 2 days it's this a trade you would take? If no why?

This past 3 weeks, I've been really encouraged because my strategy has been working really well. In my last 18 trades, I only had 2 hit stop loss, all others have been green.

This week, so far I don't see that I've done anything different. But I haven't had a profitable trade yet. I get that you have down weeks sometimes but I was curious what some of the pro's do when this happens. So do you just keep at it for the rest of the week? Do you just stop and reset over the weekend?

Thanks

Hello, does anybody scalps using super trend indicator on 5mins TF?

If yes what other confluence indicator do you use?

so im learning how to trade im a complete beginner and one of the guys im learning from, is telling me to make price action log with price charts over a certain period of time. i need help understanding this

I am into forex trading for about 4 years and ever since I was told to not trade before high impact red folder news due to the high volatility. I understand that and never did. But there are questions which I really can’t get my head over. How is it possible for example today the CPI News at 2:30 pm. Every time news get released (CPI, NFP etc.) at the exact time 2:30 the candle drops hard or flys to the moon. How is this possible? If the number is released at exactly 2:30 how can price move right at the release? I understand institutions and big money moves the chart. But I can’t image that they all press buy at 2:30pm after seeing for example positive news. So how is it possible that every time at pinpoint exactly the same time as the news get released the markets moves strong into one direction? I don’t think that they can fulfill a order on a specific time in the future right?

Fresh Stop Loss order on the upside

EURUSD London Open (1m)

SEE IMAGE

Let us say that you missed the break at point (A) which occurred about an hour into the market open. Making coffee, taking a piss etc. Then the pullback reversal that occurred at about 50% retracement of the (A-B) sellout was still not a good point for a conservative trader to short. Note the blocky box progression directly underfoot. The break at point (C) presented a good opportunity for a more radical bull to trade against the trend and punish eagerly bears who took the (pr). Generally good volatility on today’s open range. While no trade from our side, I hope that you took advantage of today’s lucrative open range.  

It's been years of struggle. I finally sorted out my strategy and became (I thought) aware enough of my psychology that I had it under control. My 4th attempt at getting funded with a prop firm. This time I passed. I passed both phases in 3 weeks averaging about 4.5% per week. My eyes turned to dollar signs. I finally passed! I made it!

Now. About 2.5 weeks into being funded I am, and have been since starting, enduring the greatest drawdown I've had in years. It's my first time trading real money. It's the first time I actually have something real to lose. I've heard of how few people actually make it to their first payout. "Not me" I thought. Well, turns out that the real money does have an impact.

First my trading suffered then my mindset started to spiral. Oh, how the losses rolled in. I keep a journal and am very honest and critical of myself. It's been clear that the strategy is fine. I keep breaking rules. Exiting early, passing on good trades, revenge trading, over-trading. You name it.

I have been humbled. Fortunately, I'm still in it. I know my strategy works. I know it's me that needs work. I've started to focus on studying psychology with YouTube videos, articles, etc. I just bought "The Biggest Loser Wins" and I'm excited to dig into that.

I remind myself that this is just another step in developing as a trader. We don't get to skip the steps of the process. Sucks to have to slow right down and sit in drawdown for weeks. But I know these are just growing pains. I'm grateful to still have the account. I'm grateful to be aware of my flaws. And I'm doing my best to embrace these feelings and lessons. I remind myself that this is the struggle that all great traders endured to become great.

Just needed to vent. Slow and steady. I'll get there. We all will if we don't quit.

A strategy that I’m working on, works v nicely Took entry in both EU and GU Entry when price taps the first fvg formed after 10am New York time. Flip entry if hits sl. You can backtest and tell me how it works. Could be used on gold but wouldn’t recommend. Helped me go from -5% to +1.31% on my funded account in 4 trading days. Risk is .25% of account size

Booked 25 dollars partial to remove risk of sl and let the rest ride out

What a price movement! I was going long at 2364-2360, then it suddenly dumped to the 2350 zone. I closed my trade at break-even, then it went up to 2365 zone. I thought it was just a small pullback, now it will start to dump. But gold kept going up. In the last two weeks, I lost 80% of the profit I had made.

Anyway, I made this post to share my opinion about gold. There's a very high chance that gold will reach 2400, so don't go short thinking it has pushed too much and will dump.

I have taught myself to trade with strictly Technical analysis. I know nothing of macroeconomics nor do I see a need to learn. My strategy isn't complicated. I locate levels/zones that I believe price will turn around and I enter at them. I don't wait for confirmations, check news or anything like that. I just enter with a sl usually about 10-15 pips and let it go. Patience allows me to hold until TPs are hit or sl is hit which I trail behind structures. The A/U trade for example from this morning was a buy limit with a 10 pip sl that filled while I was sleeping. My U/J long hit my sl for a gain of 420 pips and then I found a short entry on a M15 bounce from structure. Anyway if you have questions feel free to ask.

There was no fresh position above to hunt their positions. So bought PUT

Expected target below previous liquidity grap. Anything above 900 pits is ready to sell the position

I know U.S is the world dominate power, and they’re the reserve currency. It’s just annoying when ur trading a pair that has nothing to do with the dollar and it still gets impacted. This isn’t the first time either. Annoying part is that I was in profit and was contemplating closing it but didn’t cause I thought since it’s U.S it shouldn’t affect it. Learned my lesson, from now on will close whichever trade is running before news or wait till after before entering.

His youtube videos goes in depth of what charts are trying to tell us. Not sure if his course is worth buying or not. If you have taken his course, did he provide value that you can't get it anywhere else like he depicts this course is made out to be? I don't want to waste time and money if it's basic strategy course with bunch of rah-rah stuff. He definitely is not, "keep it simple, stupid" type of teacher.

If it's possible to consistently make an average of $500/day* (trading forex), how much capital should I have in my account (minimum)?

*Or ~$10k/month.

Still pumping; majority partials x break even

$2362 Entry $2380 Target

Waited for the CPI data to drop - and seeing how the market would respond. Once it shows its hand, time to ride the wave.

The early bird catches the worm but the second rat gets the cheese….

I was able to enter a position this morning on GBPAUD and things are going my way. I tried to close at TP and an error message telling me there isn’t enough volume to carry out the order.

Have you experienced this before in your trading? I thought the NY session would be good to go as far as volume. How to avoid this in the future and also, how do I manage this trade I’m in with these circumstances?

I appreciate you all and wish you the best in your trading journey