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Goals

Analysis EU Sunday Opening Hello traders, I am showing you all possible entries. Catching small entries are good and safe from the opening of the market. I gave at least 3 entries on the 1 hour timeframe. Look at entry 2, Always enter at the right shoulders only if you miss your early entry on the high(just in case). If EU stop at that high, it will indicating that EU had made a bottom top on a higher timeframe. Is it that not beautiful lol? It make sense. So what I'm saying is don't see what you want, see what you see in the market basically. If you don't see, don't trade it. No patterns, Don't trade. Thank you for reading! Enjoy!
by MonaySess
NEW YEAR's Resolutions! May 2021 be the best of all!Prepare yourself for a Great 2021! Here are the main pieces of advice I would give to myself when I was first started. Let me know your thoughts... 1- Stop searching for signals, fund management gurus unless you want to lose more money. You chose forex to be your own boss, why do you insist on being a follower? If 90% of traders lose money, then to be profitable, you should stay away from the crowd and trade differently. The only way to make money, in forex or trading in general, is to trade by yourself and to be in full control of your account by following a well-defined trading plan that you implement objectively like a robot. ----------------------------- 2- You don’t have to trade every week, you don’t have to catch every trade. 2-3 trades per week are enough for healthy consistent account growth. We are snipers, we wait patiently for the perfect shot, and let the machine-gunners/traders die in the front. ----------------------------- 3- Call us Risk managers, not only traders. As the only thing we have control on is "Risk". While trading is nothing but a game of probabilities; all you need to do is to find a well-defined strategy that gives you an edge over the market. Keep in mind that your strategy has to be objective, and can be based on pure price action and/or include indicators. ----------------------------- 4- Do not doubt your strategy or your entry just because your fellow traders offline/online disagree with your position direction. Remember: The odds of being right aren’t with the crowd. I want you to be fully confident in yourself and your trading plan. I want you to look at the mirror, and say “I am the best trader I know” ----------------------------- 5- Stop searching for new methodologies. If your strategy is giving you profit. Then focus on it and repeat. You have got a money machine. Just like when you get married. You chose to spend the rest of your life with your partner, knowing that you may find someone better, smarter, more beautiful… but you are done searching. (Unless you want to cheat on your partner) ----------------------------- 6- Think long term => 6 months – 1 Year and NOT weekly – monthly. ----------------------------- 7- Always use stop-loss => Trading without a stop loss is like driving without a seat belt. ----------------------------- 8- Enter with a fixed risk per trade. Not fixed lot => Professional traders think risk, amateurs or scammers count pips. Do not trust anyone who shows his/her results in pips. ----------------------------- 9- Think quality, not quantity => We are snipers, we just sit back patiently and wait for the perfect shot, while shotgun traders die at the front line. ----------------------------- 10- Treat the market like a trader, not an investor => Don’t get attached to one single trade. It is just one in a lengthy series of trades. ----------------------------- 11- If you are not feeling well, don’t trade => You don’t have to trade every week; you don’t have to catch every trade. ----------------------------- 12- Stay humble, or you will be humbled by the market. If you know a trader whose ego is through the roof, he is not a trader. You may call him an analyst, instructor, or even a scammer, but not a trader. ----------------------------- 13- We do not predict, we simply speculate and react => Just like chess, let the market make the first move and react accordingly. ----------------------------- 14- Find a mentor => Learn from those who are more experienced than you and surround yourself with talent; By keeping an eye on how veteran traders invest, you’ll begin to understand how they think and make crucial trading decisions. ----------------------------- Again, Happy New Year Everyone! May this Year be the best of all! ~Rich
BITFINEX:BTCUSD
by TheSignalyst
40
MCD t.a. update +Q4 goalsTaking a look @ MCD price history on the 1WK time frame, labels show a potential pattern correlation of long term uptrends, where the EMA21 level acts as a major support at least 1x before the uptrend reverses. Doesn't mean that it's 100% going to happen again but historically patterns do have a tendency to repeat themselves, and the current price action is just coming out of that critical EMA21 support area. Worth noting, since the idea further supports current trade set up from previous MCD post, but more importantly, this will be great to use as a reference during post-trade review. *Side note/Q4 goals update. My Q4 focus is to build & reinforce a really strong foundation/core of my trading profile, using the fundamentals that are absolutely critical to long term success as a trader. Everyone has their own strategies, but If you are taking the time to read trade ideas like this then I'm sure you can relate to how important research and studying are when aspiring to become a trader at the professional level. Everyone says they want to be a trader, but it seems like very few are actually willing put in the hard work required to get there. This is an insanely complex occupation to pursue, but at the same time such an incredible opportunity as a career choice. I look forward to re-reading quarterly updates like this 1 year, 5 years, 10 years, etc from now & measuring the progress. I see so many great ideas flowing through the tradingview feed on a daily basis, and every trading experience just helps refine and improve trading efficiency. Big thanks to those that contribute quality content on a regular basis. Just happy & grateful to be a part of it all. Wishing everyone the best of luck in Q4, see you in the green at New Years
NYSE:MCDLong
by gaaragaara
USDCHF BEGINNING OF BEARISH TREND Target .97450Knowledge & Profits Ok Followers - We're looking a USDCHF and the bias here is bearish! And here is why... Price fails to push higher on the weekly time frame. We're only seeing big wicks to the upside while candles continue closes next to each other. Almost seems like consolidation on the weekly time frame. Now to the daily we can see that price is engulfing it's previous bullish candle. This is our hint that we are about to see a take off.
Short
by KnowledgeAndProfits
How to be a Successful Forex Trader Segement 6Measuring Success and Goals As a Professional trader, you have 1 goal...Make money!! That said, traders like to measure their success differently. Some use pips, some use wins v. losses, personally I use daily return. Understand my focus is on generating income and my mantra is "keep stacking positive days" Imho, using pips to measure success can be misleading, I know of traders that will brag about making 300 pips, when they traded 10 micro lots for a 30 pip move. Obviously, the same could have been accomplished by trading 1 mini lot for the same 30 pips. Don't get me wrong, breaking your position down has a strategic purpose, if you have multiple profit targets or another reason to do so just understand that it was a 30 pip move and not a 300 pip move. Win/Loss Ratio can also be deceiving. if you have an inverted (negative) Risk Reward Ratio (RRR) then win/loss ratio means nothing. You most often see this with advertisement's for EA's where the claim is 95% win rate, or something along those lines, and then you look at the trading history to find out the profit target are small 2-5 pips and the stops huge 75-100 pips. Again, don't get me wrong win/loss ratio is important as long as the RRR is not wildly inverted...(Scalpers for instance will often have a negative RRR but usually not more then 1-3). Which brings me to daily % return, which, imho, is the best way to measure success. it is the the great equalizer. For example, if I told you Trader A makes, on average $500 a day, while Trader B makes $200, you might say that Trader A is a better Trader. However, if I then told you that Trader A has a $100K account while Trader B only has a 10K, that clearly changes things because now you realize that Trader A although making more money is only generating .5% per day while Trader B is generating 2%. Big difference. Moving forward, Trader B's account will increase to the point where he will surpass Trader A's account. Hence why, imho, measuring success in daily, or weekly, % return is the best way. All this leads me to Goals. I am often asked "what should my goals be" and this is the most loaded trading question there is. I say that because it does not matter what I can do, or what any other trader can do, it only matter what YOU can do at Your Current Skill Level . Psychology in trading is so important and permeates all aspects of it. Knowing what other traders can generate can be disheartening, even if, you are a good trader! I feel the best goals a trader can have are 1) a daily/weekly % return that their current skill level permits and 2) constantly working to improve. It is number 2 that is most important. Their are so many ways to improve one's trading. More precise entries, better exits, smaller stops, larger profit targets, better trade selection, better money management, and the list goes on and on. Reviewing and documenting your trades is so important in this process (and will be the topic of my next educational post). Today, for instance, I did not have a valid set-up, so I did not trade! Understand I get up at 1;15 am est., everyday and start analyzing the market. I am up and I am ready to trade, however, their are times when it is better not to. As you know yesterday, we hit on 2 Solid trades, their is no reason to give any money back on a bad trade. I'm greedy that way...lol I hope this post is informative and helps. If it does, I would appreciate if you "like" it and follow me :) Stay Green my Friends:) Allen
Education
by AGold54
23
Possible EUR/CAD short position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 4-12 Hours Actions on - A – Activating Event Market will meet resistance in zone @ current levels - .... and fall to the 1.463. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 1.463 FX:EUR/CAD Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 1.463 Target 2 @ .... Risk/Reward @ 1.5.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
1