Tag: signal

I lied to you

Misconceptions in Forex

Hey Traders, how is it going?

How did you do yesterday?

Finally the markets started to move this summer, just when I was thinking about taking a week off… And I’m glad I didnt…

Anyway, I have a confession to make…

Two weeks ago I wrote about what I thought was the easiest trade ever… I took 140 pips on a EURNZD trade.

Or maybe at that time it was the easiest trade ever…

But take a look at this other trade…

GBPNZD, signal, USDCAD

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More trade opportunities on the GBP crosses

candlesticks

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

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Signal in a currency pair with a great pip potential

Pareto in trading

As you already know, one of our main jobs as traders is to scan the markets and try to find the instruments that have two things:

Clear S&R levels, this way we know what the market is doing and most important, what it is likely to do, and
Good profit potential, well, this one is self explanatory.

If you keep trading those instruments, you’ll get results.

Of course, sometimes the market will move against you, but it doesn’t matter, because above all, you’ll be focusing in your trading as a whole, a group of trades, not individual trades.

So you only need to make sure to win more when the market goes on your favor… and that’s it!

Forget about the accuracy of the system.

Most profesional traders will tell you that 80% of their profits, come from 20% of their trades.

That’s true!

Do you agree with me?

Here is the signal.

breakout, forex, signal, USDCAD

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Is it better to take retracement or breakout signals? (plus USDCHF signal)

buy sell forex

Hey traders, how is everything?

You know, tomorrow could be a volatile day… the FOMC statement is due tomorrow and it has proven to be the most important fundamental release, at least the one that has the most impact in the market.

So you have to be careful, because the market will go crazy if we get something different from what traders/investors expect.

I follow a simple rule, if my trade doesn’t have more than 80 pips on my favor, I just close it.

That simple!

You don’t have to break your mind creating complex rules.

Retracement or Breakout Signals?

Which one is better?

The truth is that both of them work… each one of them have their own advantages.

For instance…

You could set your order on breakout signals and go away… so if you don’t have much time, just use breakout orders.

Retracement signals tend to have a tighter SL.

So I like both of them, I dont have a special preference… As long as the signal is in the direction of the market condition, I take them…

What’s your take?

Ok, now lets take a look at my signal… by the way, it is a retracement signal.

forex, signal, USDCHF

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Another signal in the GBPAUD

Forex Market

Hey Traders, how was your weekend?

As many of you already know, it was my birthday last Friday… I received a ton of emails and I really appreciate it traders…

And I want to thank you all for that!

Back to trading my friends…

You know what trading is all about right?

What’s it all about?

Its about trading the right instruments at the right time! As I said before, that’s what some traders call “luck”.

Fortunately for us there is a way of finding those traders over and over…

Now, that doesn’t mean that we are going to win all trades, its just about trading with the odds on your favor… if we keep doing the same thing over and over, at the end, we’ll get consistent results.

Ok, now lets take a look at some charts.

forex, GBPAUD, signal

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GBPCAD Closed + 776 pips – How to find trades like this one

Golden Ratio Forex

Hello traders, how is your week so far?

I have mentioned it before, and I will keep mentioning it because I think it could be the difference between a successful trader and a trader that will keep struggling to get good results.

Trading consistently is about choosing the right instruments to trade, and trading them at the right time.

That’s how some traders define as luck. But I’ve seen a pattern here, the more I do my analysis and make sure I trade at the right time, the luckier I get.

And it makes perfect sense, if you trade a currency pair because it has clear swings, clear levels, a good profit potential, most of the time, the market will move on your favor.

That’s it!

What we’ve got to do now is just repeat: Analyze – Determine which ones to trade – Trade

That’s it traders! That’s how the job is done!

But please don’t tell me that you are trading only one or two currencies, or that you are trading something because of the spread, or because someone else is trading it…

The only reason you should trade any instrument, its because it has both: a clear market condition and a good profit potential…

Does it make sense?

Ok, now here is what happened to my GBPCAD trade

forex, GBPCAD, signal, trade

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