NZD/USD Position on Thu Dec 5

Hi every1!

   Thursday I've opened pending order to buy NZD/USD few pips above close of that day. But I have opened this order after maybe 30 minutes (22.30 GMT) after trading day have been ended (watching episode of Family guy :D) and this helped me not to lose 1%  right away, I'm not saying that I need to wait 30 to 60 minutes after daily close when I see a signal in order not to be shacked out. That's why I always know how much I willing to risk on each trade, I prefer to risk ~1%, that is really help me to stay in the game. Proper money management very important in trading.

   Let's see what I'm talking about:

  Look at the price action during the day (Friday 6 December) and during last week (From 2-6 Dec.)! I know that day (Friday 6 Dec.) was very strong news, but all week was nightmare for day traders. I don't know who managed not to lose money and I don't talk about making some. 

  I don't like to stress out about my trades, if it's a loser, so be it, if a winner, good. Emotions only make things worse, but it's a different post.

  Good luck!

USD/JPY 2600 USD in profit. Profit target was hit.

  Good day to you Traders!

  My Take profit point was hit yesterday. You can see my I posted earlier my USD/JPY position with Take profit target, it's nice that price hit this target, but don't forget, that it's rare that price can hit predicted point in the future. That's why I always take a little bit from the market while it's moving in my favor. But in this case I've seen that there is a potential, so my position was full till the end, but in case of uncertainty 1/3 or 1/2 of the position always closed to lock some profits (but stop/loss not always going to break/even - I'll make a post about that asap). 

There was an error in the image above, I fixed it noticeably. Sorry for that :)

Good luck!

Happy Thanksgiving Day!

 Here are nice recipes for your table in the evening :) 
http://thanksgiving2013.net/

Enjoy your Thanksgiving day :)

Profit 449 pips EUR/NZD, almost half position closed today.

Hello everyone! 

  Just closed almost half of my position on EUR/NZD, because I need to take a little profit along the way while price moving in right direction.

   You see I'm not risking too much, overall position size was 0.5 lot, 0.2 closed today with a little profit, but that is how you take your money from the market, most important stress-free ;) You don't need to chase the price everyday, just have few simple rules and that's it. Of course you will have negative scenarios, but your risk will be already predefined, so noting to worry about.

  Another half of my position left in the market and if there will be negative scenario I'll still be in profit because I already put my S/L to break even, but right now I'm still bullish on this one, but we never know, so let's wait.

Have a nice day!

Forex Tip

  Don't think that forex is getting rich quick scheme, it's rather getting poor quick scheme.

  From the start I thought I will be rich in a month, no, in a week, having only 200 EUR deposit. 

  Don't think you are 5% of the people who manage to make money in the market, it will be only harder to get through losses, and psychological trauma can occur.

  So, the first thing you should do is: forget about big money. I remember when I was reading about forex and I saw this words - "you cannot be rich quick in forex!" And I thought - What a bulls**t! I can be rich in a week, maybe in a month and I need big deposit. After a while I've got the money and deposit was pretty good, what do you think happened to it, I've lost it all (Maybe few $ was left there which I took out asap while I still could :D).

  I think many traders went or going through this period of time. It's very hard times, but like I said, don't hurry to be rich, because you'll make mistakes.

  All those ads about trading are made for YOU, they want you to bring your money into the market, think about that, leverage 400:1, 24H market, open real account in 1 minute, free books how to trade, free webinars, free softwares and so on :D It should be very easy to get in.

  Trading forex is simple, but not easy. It's 80% YOU and 20% Market that makes successful trading.

Relax and enjoy your life! ;)

USD/JPY position

  Hello everyone!

 Here is my opened position: USD/JPY.

This postion was opened few days earlier. 

  Important: If you see for example level 100.000 and 200(100,20) SMA holding price, Signal will be much stronger, i forget to to mention it in Support/Resistance post.

 If you think I will post only positive positions, i will post all positions, so we can learn from different situations.

 Check out for updates.

 See you next time ;)

Support and Resistance #forex #markets #forextrading #forexnews #trading

  Hello Traders. 

  For week starter I'd like to talk about Support and Resistance(S/R), what they are and how to eat them :D

Some authors are saying that it's a line between two points where market changed it's direction and went another way, for me it's true, but it's not all. When I'm looking for S/R:

 Round numbers like 1,900; 0,8100;1,5200; 150,000 and etc. should be near, you'll get the idea. How many times price was there? 2,3? Then looking at the Candlesticks. For me Candles are showing what is happening in the market (Psychology of the market), how market (people) reacts to certain level/zone. About Candlesticks you may already heard from various writers and traders, so there's nothing new, but anyway people don't know how to use them properly, they don't know how to use markets properly. That's why I'm here - to help! 

  We'll discuss Candles sometime in the future, but now I'd like to add that, I trust Candles and S/R levels/Zones only on Daily time-frame(rarely 1H, 4H time-frames). 

 Ok, let's look at the pictures below:

  In some cases Price changes direction from some levels, from some don't, so you don't need to think about it. You can't be wrong in your decisions, because you don't know what will happen next, but if you know Probability is on your side (Trading - Probability business), you can make money.

  Psychology behind those Zones: We don't know, you can think you know what is happening out there, but are this things important to us? We came here to make money, not to think.
 All you need is to start to think in Probabilities. In time we'll discuss this one :)
  Conclusion: Look for round numbers(sometimes there are Zones/Levels not at the round numbers) where Price changed it's direction minimum 2 times. 
  Don't try to understand everything in one or two days, give some time, i'll be here to help, so please don't hesitate to ask questions. I'm not a trading guru, I'm still trainee in the markets after 3 years, so don't try to win the market, you need to become friends with it for longer period of time.

Have a nice day!