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Reversal on EURJPY? I think soHi guys, this is the hourly chart on EURJPY and i'm taking this long trade because of several reasons. First of all, we're in a strong supporto zone on the daily chart and we're also creating a nice divergence on the RSI there. Then, if we lower a timefeame (4H), you can see a couple of pinbars (candles with long wick to the bottom) signaling buying pressure entering the market (and also an engulfing kicker). Last reason comes in this timeframe with a double bottom closed by an engulfing candle right now, that could be the first sign of the bulls taking over the bears here. If you have other ideas, let me know. Otherwise, see you in the next chart!
Long
by Roker1
GBP/AUD Multiple setup opportunity GBP/AUD is inside of a symmetrical triangle formation. You could issue a scalp buy after the break and retest of the descending trend line, as it will try to reach the longer term descending trend line. Once Price reaches the primary descending trend line, you need to wait and see if it fails to break through on a 4hr time frame. In the event it does break through, wait for a retest on a 4hr time frame, after the retest confirmation issue your buy and hold for at least 50 pips.
by NEXT_LEVEL_ENTREPRENEUR
How much can you make in 5 years? Money makes money . It's an age-old saying, probably because it's generally true. But starting out as a retail trader can be daunting and at times, frustrating. It takes time to build up a sizable account big enough to allow us to take the leap from trading part time, to full time trading. Something that has kept me motivated over the years is an excel spreadsheet a friend of mine made. It demonstrates how consistent monthly returns can lead from a small and humble account balance, to a huge one. Thanks to the compounding effect. Assuming you don't make any withdrawals, let's see where consistent, conservative trading over 5 years could get you. SCENARIO 1: SHRIMP Starting balance: $1,000 You've traded demo for a while, you've developed a winning formula, and you're ready to put your money where your mouth is. Monthly contributions: $100 A hundred bucks is all you can afford at the moment, after bills and overheads Monthly returns: 8% By being selective in your trades and risking between 1-2% per trade, your conservative approach has allowed you to be consistent so far Year 1: Month 3: $1,484.35 Month 6: $2,220.47 Month 9: $3,147.76 Month 12: $4,315.88 Year 2: Month 15: $5,787.38 Month 18: $7,641.04 Month 21: $9,976.13 Month 24: $12,917.66 Year 3: Month 27: $16,623.14 Month 30: $21,290.98 Month 33: $27,171.11 Month 36: $34,578.39 Year 4: Month 39: $43,909.42 Month 42: $55,663.83 Month 45: $70,471.01 Month 48: $89,123.79 Year 5: Month 51: $112,620.92 Month 54: $142,220.53 Month 57: $179,507.52 Month 60: $226,478.39 Behold! The humble $1000 has been transformed into more than 200k. That's just 4 winning trades a month at 2% per trade. SCENARIO 2: FISH Starting balance: $10,000 So you've got a good chunk of savings lying around and you're ready to get serious with your trading. Monthly contributions: $0 You've stumped up all of your available spare resources into your trading account and you want to enjoy spending any surplus money from your other income streams. Fair enough. Monthly returns: 8% By being selective in your trades and risking between 1-2% per trade, your conservative approach has allowed you to be consistent so far Year 1: Month 3: $12,597.12 Month 6: $15,868.74 Month 9: $19,990.05 Month 12: $25,181.70 Year 2: Month 15: $31,721.69 Month 18: $39,960.19 Month 21: $50,338.34 Month 24: $63,411.81 Year 3: Month 27: $79,880.61 Month 30: $100,626.57 Month 33: $126,760.50 Month 36: $159,681.72 Year 4: Month 39: $201,152.98 Month 42: $253,394.82 Month 45: $319,204.49 Month 48: $402,105.73 Year 5: Month 51: $506,537.42 Month 54: $638,091.26 Month 57: $803,811.22 Month 60: $1,012,570.64 Now it's unlikely that in this situation, you'll be trading pip sizes more than what would bank you 100k in 3 months, but the point is that you can trade conservatively and get to a point where you're earning enough to live like a king in just a few years. Happy trading everyone! Hope this has helped to motivate you and think about trading more conservatively to preserve your capital and think about your long term future. AvidTrader P.S. If anyone would like the real spreadsheet, PM me.
Education
by avidtrader89
3