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Fundedtrader

XAUUSD (GOLD) Analysis for the week of July 2, 2023. Gold has been in a solid consolidation for almost 3yrs now, with slight deviations outside of that range, nevertheless alway coming back into the range. Currently Gold has swept long term highs taking buy side liquidity...coming back into the range off those highs. My macro conviction is that Gold will now begin to draw towards sell side liquidity, which means a draw towards lower prices. So from a monthly standpoint Gold is bearish. From a weekly standpoint gold has just taken sell side liquidity in the form of drawing into a longterm Buy Side Imbalance Sell Side Inefficiency or Weekly FVG (Fair Value Gap). Price have currently reacted from the consequent encroachment (midpoint) of that BISI, and it is my conviction that we are seeking higher prices and drawing towards buy side liquidity to basically get inline with the monthly bearish direction. From a daily standpoint gold has left behind a pretty obvious SIBI (Sell Side Imbalance Buy Side Inefficiency in price. It is my conviction that the strong Morning Star Candle stick pattern is a form of confluence that price is indeed drawing towards buy side liquidity, to ultimately get inline with the monthly bearish direction to finally breakout of this longterm consolidation and begin to seek longterm sell side liquidity. Please view the video to get a more detailed top down explanation of what I'm mentioning here. If you you have any questions, please don't hesitate to ask buy leaving your comment in the comment section below. Thanks.
EIGHTCAP:XAUUSDLong
by chaarate
Anticipating a bullish rally this weekend on BTCUSDAfter an aggressive sell-off, finished by what looks to be an exhaustion bar, my ideal trade will be enter long on the 4 hour order block and ride price action up to the daily order block, where I expect lots lots of selling pressure to come through. I think it's very possible that price will surge to the 50% retracement of that OB where it will be the consequent encroachment of the fair value gap. Orders are set and now I let the trade play out. All the best, The Meditader
EIGHTCAP:BTCUSDLong
by TheMeditrader
1
What is really up with the Funded Programs?Before we go any further, I want to state that 1) This post is NOT PROMOTING ANY prop firms/funded trader programs, 2) I do not hate or have anything against any prop firms/funded trader programs, I am just sharing my understanding from what I have read and experienced, and 3) Info here is not complete. If you choose to embark on any programs, please make sure you do your own due diligence. Traditional Prop Firm Typically refers to a group of traders that focus on buying and selling financial assets with the firm’s capital. The trader uses that firm's money to trade and in exchange receives a small wage and a large percentage of the profits. In practice, proprietary trading firms provide the capital, proprietary technology, training, coaching, and mentoring for you to become an elite trader. Funded Programs There has been an ever-increasing number of funded trader programs, marketing to retail traders about the huge profit-sharing potential (75-90%) when they become "a funded trader." And all that is required is paying for and passing an evaluation/testing period. You would pay anywhere from $84 to $184 for a $10,000 account and it could go as high as you want (almost) A trader in the evaluation/testing period would have - Profit target of 8-10% in phase 1 (typically 30 days) - Profit target of 5% in phase 2 (typically 60 days) - Daily drawdown of no more than 5% - Overall drawdown of no more than 10-12% From my experience coaching retail traders, newbie or average trader has an account size of no more than $10,000. This makes the idea of being funded to trade become really attractive, limiting the downside while almost maximizing the potential. However, there has also been a lot of negativity about these funded programs; - the evaluation and actual trading accounts are demo accounts - the company makes more money from traders failing than from profitable traders - some traders claim to have never received their payouts Are funded programs scams? Again, I have not evaluated ALL funded programs to say this, but probably not. (Do your own due diligence!) Companies running funded programs are likely just deploying a good business model, addressing a pain that most retail traders have (funding their account) and filling that gap. Should you jump into a funded program? There is a lot more information (more than discussed above) that needs to be considered before you jump in. A brief checklist: 1) Do you have a profitable trading strategy to deploy? ( if you don't have a profitable strategy, keep reading, learning & testing ) 2) Have you used it for at least a year? ( avoid using funded programs as a testing ground, it can get costly! do it on a demo or even a $1,000 account first ) 3) Does the strategy meet the max drawdown conditions? ( 5% a day, 10% total? For example, a martingale strategy is not likely to work ) 4) How likely are you to bend your trading rules? ( rules set by the programs are set in stone, a breach even by the slightest and you would have failed ) 5) Is it the right time to start? ( are markets in consolidation, on a holiday period, or super volatile with no clear trend ) Remember that the average annualized return of the S&P500 is 11.88% (1957 to 2021). Trying to make 8-10% in 30 days and then 5% in 60 days just to pass, tends to put the trader under a lot of stress. How do you perform under significant pressure? What are your views of the funded programs? Share it with me in the comments I have never thought much about the funded programs. But recently have been considering giving it a shot and live-streaming the trading process daily. Would you join me on the stream? Stay tuned, it might just happen.
SP:SPXEducation
by JinDao_Tai
2
USDCAD Analysis for the week of Oct. 16In this presentation I highlight my analysis for USDCAD. Currently price is reacting pretty strongly off a long term Weekly Bearish Order Block. Which in my opinion could be the perfect storm for a price reversal. Price has already reacted from a longterm Weekly -FVG, and has since traded back through it seeking higher liquidity. Please check the video out for more detail of how I plan to handle this current market condition. Bless.
Short
by chaarate
2
EU analysis for the upcoming week of Oct. 9In this video I go over my opinion of were I think price will be heading. EU has reacted off a Daily -OB MT to the pip and has started its decent to the nether parts of the charts. It is my opinion that since the dollar is still buying so strong that EU will continue to sell. I think that EU is setting up to retrace towards premium prices for shorts. There are key levels I highlight where I will be looking to add positions.
Short
by chaarate