I’m a firm believer that 90% of your trades depend on your previous analysis and only 10% on your actual entry.
You can have the best entry system in the world, but if you take your trade in the wrong direction, or trade the wrong instrument, then you are doomed!
In fact, I think it doesn’t really matter what entry system you use, as long as you are trading the right instruments.
So here is how I got those 687 pips…
breakout, false breakouts, GBPNZD
Traders, hope everything is going well on your end…
I believe that the best piece of advice a trader could get is this:
Stop trading just for the sake of trading.
You need to trade the ones that have the most profit potential, the ones that have the clearest swings, the ones where you can easily identify support & resistance levels, those are the trades that are really worth it.
Those are the type of trades that makes the difference between a trader that is still struggling to get results and a trader that is on its way to consistency.
analysis, GBPNZD, signals, USDSEK
Do you believe in luck?
Sometimes I do… and some other times I dont…
There are moments in life where we might get lucky… but when it comes to trading, I think luck is defined differently.
To me, luck in trading is: trading the right instrument at the right time.
forex, GBPNZD, signal, USDCAD
How is your trading so far this week trader? What currency pairs are you trading?
You might think that one of my favorite currencies to trade is the GBP…
But that’s not correct…
I dont have “favorite” currency pairs, or at least not in the way you might be thinking…
My favorite currency pairs are those that have the clearest market conditions, the ones that have clear swings, clear S&R levels, those are the ones I like to trade every day.
So its an endless search for the pairs that have the clearest conditions, this is the only way I can guarantee that I will be trading with the odds on my favor.
And at the end, that’s what really matter, to go long when the market is more likely to move up, to go short when the market is more likely to continue its way down, and forget about trading it when you have no idea of what the market is likely to do.
Do that, over and over again, and you’ll get good results…
There is no secret trader, its all about being in the right side.
Ok, lets look at some of the GBP crosses now.
GBPNZD, opportunity, signal, trade
There is one famous quote from Warren Buffet… (You know who is Warren Buffet right? He is one of the greatest all time investors).
When you get a chance, read about him, his methods, etc.
Anyway, back to the quote…
“Risk comes from not knowing what you are doing”
Remember that quote?
Well let me tell you, it makes a lot of sense…
EURNZD, GBPNZD, USDCHF, warren buffet
How is your trading going lately?
You know what is what I like most about the Forex market?
There are plenty of currency pairs and most of the time, you’ll find a few good opportunities.
And if you have been following me for a while, you know that the key to get good results on any market is how you choose the instruments to trade.
You could be using the best entry system in the world, but you are trading the wrong currency pairs, the market will move against you.
On the other hand, if you have an average entry system, if you are trading the right currency pairs, sooner or later, the market will move on your favor.
That’s the reason I think you should spend at least 80% of your time analyzing and choosing the best currency pairs to trade and only 20% actually looking for your signals.
Remember that: 80% analyzing, and 20% actually trading.
AUDUSD, GBPNZD, signals, USDCAD