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Forex is 50% winning psychology, 20% strategy and 30% money management. 90% of FX traders are greedy that is why they blow accounts in no time. The trading psychology includes greed, fear, patience, confidence and discipline. Once you have conquered these, you will have a successful trading career. Forex is not a get rich quick…
We do not trade candles. We trade the market makers cycle from peak to peak. As a recap, the following is a brief summary about entries and trades to take, which we discussed in earlier chapters: Our first entry is on confirmation candle appearing on second leg of the peak Out second entry is on…
You have learnt about trading and you have done it. Now it is time to sharpen your skill around some few points. We have market times, which include market sessions and time frames. Here are the dos and don’ts of trading: We do not trade at the beginning of the month We do not trade…
The following series of images show how we analyse cycles and predict the direction of the trade as we prepare to enter. The images on H1 timeframe show you the overall trend on a longer time period. The images on M15 then show you how to predict the direction of the trade based on the…
If you want to be a weekly cycle trader then identify PFL and or PFH and trade for 3 or more days. For it to be simple what you do on Intraday, you are no longer closing but you are holding into the next day. That is why they call it a cycle and it…
Wonder what do we mean when we talk about Weekly Cycle? Every week we expect a pair to be at some position to complete a cycle. A weekly cycle is an intraday setup that is combined. In order to know where you are on your intraday and the direction you will go then you will…
Often times people wonder if this is not weekly cycle. The truth is that it is not because it has its own way of forming out. A typical pattern of behaviour, particularly when examining the three-day cycle, is to be able to identify a peak high followed by three moves down and a reversal which…
The series of images below summarise intraday trading. Please go through the images and if you find some areas where you require clarification refer back to the notes before moving to the s=next section of this chapter.
Probably all of us are directly linked to this type of trading. We may not be aware but we do this every day without knowledge. Each time you wake up in the morning you say GBPUSD buy and you buy and close around 1700 in the evening and rest. This type of trading comes…
The images that follow are a recap of the weekly cycle in this chapter. Go through the images and see what you can identify as you revise the chapter. Where you have an issue requiring clarification do not hesitate to bring this up in the VIP group or to your mentor. As usual, all the…
