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In this article I want to share my 3 trades taken last week on my LIVE account. These trades were taken according my trading approach described In my last article. Because this is not a signal service, article is written after trades. My trading is based more on technical analysis than on fundamental. Everybody who is watching forex market knows what the moves happened last week. For each trade is picture where are 3 lines, RED is Stop Loss, BLUE is Entry. GREEN is Take Profit.1. Trade: EURJPY + 241 pips On the picture you can see price action for few weeks. I was waiting for news for EUR, don’t take a trade before news. When price went down from daily high on H4 time frame a jumped on trade with very good risk reward ratio. After entry when price fall below yesterday’s low it was rally! (see figure 1) Figure 1. EURJPY 2. Trade: USDJPY + 167 pips On this picture is price action for few weeks. I was waiting for news for USD, don’t take a trade before news. I had SELL STOP order below few days low. When price went down I was on trade with very good risk reward ratio. Stop loss was above today’s high. After entry when price fall below it was rally! (see figure 2) Figure 2. USD…
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geula4x avatar
geula4x 17 June

+1 Liked: very nice trades. By the way, I too like to trade based on price action. Happy trading :-)

David_ avatar
David_ 19 June

Thank you, yes it is possible, but not each day. Setups needs time for developing.

nilsaedagar avatar

+1 Liked )) It is really great one. thanks for sharing.

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5/38
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Thank you for letting me a positive vote if you like this articleMy technical analysis tools are:- Time frame: 1 hour- EMA 20 60- Stochastic 9-3-3 ---- LEVEL 25, 75- RSI 14 - levels: 30, 45, 55, 70- MACD 12-26-9- FiboPivot hour week- Bollinger 20.2.2.Here is my platform:1:the opening of the morning I look at the price (Eur / usd, usd / chf, gbp / usd, ecc ...) and position of the EMA 20-60 in long or short, and the MACD positive or negative position or if the current situation is stable2:If the situation is stable ... I'm waiting ... I'm waiting ... I'm waiting ...!It must never be impatient to open positions, we lost more quickly with a bad position open and much less for a long period without activity!3:Perfect location to open LONG is:20-EMA crosses 60 EMA onStochastic is low-crosses and amountMacd-rises and goes UPCandle-green fence crossing RSI pivot fence through level 554:Perfect location to open SHORT is:60-EMA crosses 20 EMA onSTOCHASTIC-up is short and crossesMACD-down and goes downRed candle-end pivot RSI crossing fence through level 455:To stop position, must ALL tools are reversed at the same timeStop BUY:Stop SELLDon't Stop position:6: THE MOST IMPORTANT: It is better…
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Erka_shildeg avatar

Interesting, could you provide your win loss proportion out of this system?

Foxy65 avatar
Foxy65 23 Oct.

Hello, I use this strategy since the early months of October, and we may well see in my performance than the few days during which I was traveling I have not had access to my platform and we see the loss of points ... but activity days before my platform I found my position.
greetings

Foxy65 avatar
Foxy65 23 Oct.

Sorry but Correction for FibPivot is not hourly but DAILY and WEEKLY!

doctortyby avatar
doctortyby 30 Oct.

Patience is a virtute. You charts are a little to crowded with indicators for my taste. Expecially when I am a Price action trader, with Pivots, Supports and Resistences, VSa and supply and demand from the Order Flow book analyssis. I use some of your indicators (RSI, MACD and stochastics) just for confirmation of my trading signals. Keep writing and good luck in trading

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33/48
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                                                       Execution Technique And Risk ManagementI just found this subject interresting for every trader hwo do not know about Technique of execution and how to minimise your risk against the market. Whatever you are a professionel or a beginner you want the money at first because we trade money we want more to growth our portfolio.Money management:Money management in forex trading mean the strategy that make you choose an exact amount for each trade that you open.so we are risking this amount of money form our portfolio then how we build this strategy?the answer is:At first the profit factor of our trades(profit/loss) or profit percent of all trades.That help to choose the technique of money management (percent mongement or simple money manegent)  for exemple if we heve a Profit factor>3=percent money management . because we have profit more than losses that mean for exemple :f                                          Simple money management:Bad PFeposit:1000$ 1day +5%) 2day -4%) 3day -1%) 4day(-5%) Profit=--20$(-2%)Good PFeposit:1000$ 1day +5%) 2day +0.5%) 3day -1%) 4day(+5%) Profit=95$(9.5%)                                        …
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Sam1 avatar
Sam1 1 June

good article+1

Myprox4x avatar
Myprox4x 4 June

good attempt !

LinnuxFX avatar
LinnuxFX 6 June

You need improve you article's presentation to have more point in quality, good luck...

lkubanek avatar
lkubanek 19 June

Ideas are not bad, but try to present them better. It is kind of confusing to put it this way...

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45/94
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One of the elements of basic knowledge that trader has to have in order to trade effectively is currency correlation. While observing market during trading hours we can easily notice that despite fact that currencies are priced in pairs, no single pair move completely independent from each other.Some currency pairs tend to move in same direction while other pairs move in opposite directions.Awareness of this correlation can be useful.DefinitionCorrelation on forex market is statistic measure of relation between two currencies, and it ranges between -1 and +1. A correlation of +1 indicates that two currency pairs will move in same direction 100% of the time. A correlation of -1 indicates that two currency pairs will move in opposite direction 100% of the time. Correlation 0 indicates that there is very weak or random correlation between two pairs.How to read the tableEach cell of the table shows correlation coefficient between two currency pairs. Quick way to interpreting table values is using these categories (minus means negative correlation, when price one go up, others go down and vice versa): 0.0 to 0.2 Very weak to negligible correlation0.2 to 0.4 Weak, low correlation (not …
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Livornese avatar
Livornese 24 Sep.

You are right! Correlations are there and we need to know about them to raise our chances of success.

doctortyby avatar
doctortyby 25 Sep.

All currencies are correlated with the US dollar... and the Euro... but the US $ is the on that moves the market... +1 for your article. trade well

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