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30/52
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TRADE AND BECOME A MILLIONAIRE IN SHORT TIME- A BIGINNERS DREAM
It begins with a dream of an easy way out to making money, I mean lots of it. It was the same for me when I started trading forex. I thought I finally found a convenient way out of poverty. It is good to dream and dream big but dreams are always dreams. Some come true and very many do not.
When I started trading in 2011, I was damn broke as hell. After a few lessons on trading and demo account practice for a few weeks, I felt I was ripe enough to trade live. I invested 3000USD of my hard earned savings. I made my calculations and thought, I was on the verge of hitting it big. This feeling gave a very positive energy of life and I just found myself smiling all the time. (of course I will be rich soon). However, after just two weeks of live trading the scale fell off my eyes when my initial deposit of 3000 USD evaporated up to 90%.
But is it really possible for a traders (professional or amateur) to have only winning trades??This is the question on every beginners mind. I also erroneously thought one could have only all winning trades. This is practically impossible even in only one month of trading.
BUT HOW CAN ONE BE S…
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rh6899 avatar
rh6899 7 June

confirmed and will might be confirmed soon
crossed and will might be crossed soon

waiting confirmed and crossed happen is exhausted (who said it is a fun job? there is no fun in any job)
hoping will might be confirmed soon or will might be crossed soon is expensive (this must be the first lesson for a trader and must be train for this condition a trader must pass this test first)
when it is confirmed or crossed but not perform this can be fix and we spot it soon

JockPippin avatar

If trading isn't boring ..then you are doing it wrong ...A waiting game and positions that don't get your heart rate up even when it's falling before your eyes means you got your money right .It shouldn't be exciting it should be mundane and calculated .Nice to hear a story from a guy that's put his money where his mouth is  instead of some nugget winning the article contest that's  never traded for real and telling me about waves and candlesticks :)) .

nobleline9 avatar

Hi JockPippin, Yes trading is sure boring and not as easily lucrative as some seem to make of it.

JockPippin avatar

People are scared to lose and get a few scars to the wallet and run away but this game is a high risk of loss ...If your'e  scared of heights then don't sky dive as a hobby :))) . The money is sweet when you get it right ...no doubt !! ,It's how you handle your losses that determines if you are a good trader ...If you break even in this game you can consider yourself a winner :)) .

scramble avatar
scramble 9 June

Many many times I feel like trading is just about knowing deeply yourself and your limit. Most of the times you will have to buy the falling price, or sell the rise.! Think about... how many times did it happen? You buy the rising price just to get the extreme peak of a multi days downtrend? So extreme that the ask price is not even covered by the candle in the chart? And how many times did you give up waiting for a move to come, just to realized you left exactly when the move started? Trading is a business: you have to buy CHEAPER. And sell HIGHER. The trend is an human illusion. That's it.

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15/19
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Archimedes once said:
"Give me a lever strong, enough, and a prop strong enough, and I can singlehandedly move the world"

"Give me a maximum or a minimum of the year's quarter, and I will tell where the price will go :>"
Me.

In my first Article at this contest, I wrote about determination of a long term trend using larger timeframes, and signals, generated by the larger timeframes.
"Determination of a long term trend" Part 1
I'm sure it was interesting to some of you, but also, I can see the trader's rising interest to Intraday and Intraweek trading.
Intraday and intraweek trading - by saying this, I mean - when the trader is trading during the hours, days or weeks.
In this article I will explain How to Use the signals, provided by the Higher timeframes, to enter the trades on a lower time frames, and much more frequent with better quality.
***A picture Above, reminds you the entry signals, on a Quarter - period charts, that I have talked about in previous article

I would like to recall, that the main task is to find out the entry points on the market. I will show you how to enter the market using a daily charts, where I will demonstrate, that it is not necessary to wait for a qu…
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Skif avatar
Skif 16 Oct.

interesting insight into the market, there is something to read.

MobNaga avatar
MobNaga 19 Oct.

FYI, Check the open time. I think, Follow-type strategy(EUR/USD) is strong in London time 9, 10, 11, 14, and 15.

Elani avatar
Elani 20 Oct.

Thanks for advices!!!

peachynicnic avatar

Thanks for your article. It is very informative with detail explanation and chart! The 3 methods : 3 Points
Time, determination of most important extremums are very useful for determining the long term trend. A brilliant one indeed! Thank you so much for your effort.

VictoriaVika avatar

Archimedes give us an great inspiration example, yes ) Thanks for your article, many useful information!

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10/23
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Today I will write very personal article for me. I think that we need to share our experience on market, if we are real traders.
I am sure that most of those who will read it, will do not understand me, and my action, and will say - "You're an idiot!". Anyway, I honestly will tell you about it.
August 20, 2012, had very little time to 13 September 2012, when QE3 was launched in the United States, and Eurozone debt crisis would be finished. Two events, after which the dollar began its non-stop fall down. At that time, I had some problems in my life about which I will not talk in this article. Let me just say that I was very angry at the whole world, and even on the market, although it is very silly.
The market does not know anything about our existence, it does nothing to spite us. In all our losses we must blame only ourselves. I understand it now, and I knew it at the time. However, I went on principle. I decided that I could beat the market. I decided that I could be more stubborn than the market. And August 20, 2012 I made short EUR/USD trade, at the 1.2459 level. As I recall, take-profit was only 1.2409, just 50 pips. And I did not use stop-loss. I decided that I was going …
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Maksim_Chelnokov avatar

peachynicnic p.s. Strong storm at this moment in Macau / Zhuhai. I think in Hong Kong the same. I hope you at home and closed all windows. I forgot to close the window when walking out of home - and when i return 2 hours ago - half of my apartment was flooded with water, and I need to paint one wall))

Airmike avatar
Airmike 16 Sep.

Maksim - nice article. I know exactly how you felt. every single trader has to do own mistakes to learn. smart people say its better to learn from mistakes of other. but it doesn't work so well. now you know what you don't want and its just question of time to find painless way :) you can check my article about collecting and cutting exposure. maybe can help.

Maksim_Chelnokov avatar

Airmike  Thank you, i will check your article)

bharatholsa avatar

Nice article - thanks for sharing your experience with us ) To err is human - but to accept that you have erred requires courage. Bravo !!

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19/41
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Dear Friends I would like to share a trade with you guys that I took a couple of days back on the EUR/USD pair. Please find attached the chart for your reference. I have marked two zones on the chart namely Zone 1 where I entered long on the trade and Zone 2 where I would like to book profits. This trade was taken purely on a 4hr chart using Metatrader 4 as my platform and no indicators whatsoever just pure supply and demand strategy.Supply Level : It is a level where where most or all buyers are exhausted and prices turn down.Demand Level: It is a level where most or all sellers are exhausted and prices turn up.PS: The most important point is that when the level hit the zone, the zone needs to be a fresh zone and not a one that has already been tested.Factors to consider while going Long(@Demand) or Short(@Supply)Zone 1: You would like to see how price has left the level. The price @ zone 1(Demand) has left the zone with strong rally and big strong GREEN candles. That means there was strong buying pressure at Zone 1.Now idea is if price visits zone 1 for the first time, the zone being fresh you would want to go long at this juncture.Zone 2: You again see how price has left the lev…
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SpecialFX avatar

Unfortunately, you forgot to upload the chart, or there is some technical problem with it. :)

Myprox4x avatar
Myprox4x 20 Aug.

Your title is great ...but where is the picture man??

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33/68
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Pivot Points:In this article, I am going to explain the use and effectiveness of pivot points in day trading.What are Pivot points?Pivot points are horizontal levels of  Support and Resistance which are used by traders from retail level all the way up to institutional levels. The beauty of Pivot Points is down to the fact that every major trader uses it and therefore it becomes even more useful.Along with the Pivot Point, there are levels of resistance which are placed above it and levels of support below. These act as leading levels where price is likely to stall or reverse.When using the Indicator on JForex they appear like this;They have coloured horizontal lines with the numerical value of each level listed above it.How pivot points are calculated:When calculating Pivot Points you use the previous time period Open (O), High (H), Low (L and  close (C) data. The previous time period is normally the previous day, however it can range from daily to monthly.There are 4 methods : Normal, Camarilla, Fibonacci and Woodie. Personally I think Normal is the most profitable and therefore I will cover that during this.To calculate the pivot point you use the formula - Pivot Point = (O + H  …
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Schaolin avatar
Schaolin 10 Apr.

very interesting article, you must put them in practice +1

AdrianWS avatar
AdrianWS 13 Apr.

Yeah, I do use them a lot in trading and they are very useful, good for Stop loss positions and Take profit areas.

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19/58
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Scalping as you know, is about making small pips more frequently than waiting for those mega profits that's supposed to turn you into a millioner overnight.Now, before you write off scalping as just another method, just consider the benefits of scalping:1. small frequent profits - get in and get out in smaller time frame. 2. losses can be recovered - even if you have a few losers, you can still trade and hopefully recover back your loss and end the day in profit. No such chance for traders in longer time frame.3. number game - as your confidence and practice increased with scalping, it is all about increasing the number of lots without tweaking profit targets.To the system now:time frame: 15min. chart : candle. session: Europe and US.go long above high of a bullish candle [10pip range] for 2 pip target. Stop Loss - same candle close.go short below low of a bearish candle [10pip range] for 2 pip target. Stop Loss - same candle close. remember:candle range has to be at least 10 pips, bigger the better.the idea it to be in the right side of momentum.  a candle that has managed to climb 10pips or higher will manage to take that momentum forward and continue in the same direction for at least few more pips, thus[/10pip][/10pip]…
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doctortyby avatar

I personally use scalping only on Fundamental signals, correlated with Volumes and Candle Formations.+1

NagarajaAdiga avatar

oops! 2 pips tp and 10 pips sl? can't imagine it. bad strategy IMO

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