The 3 Types of Trades (Bad, Good and Great!)In this video we go over the 3 types of forex trades, the bad, the good and the great!
These tips are short and direct, but hopefully they are a wake up call to help you to start focusing on the good and great trades by being patient and disciplied!
I also go over our XAUUSD long trade!
Happy trading all <3
System
Building a good system and writing down a cheat sheetThis is an idea about having a good thought process. The image of a sniper is often used.
In the cover of the idea (screenshot at the end in case it does not display correctly) I put a few examples.
I have not seen this on the internet and being shown by course providers, and how could they know, the internet is full of get rich quick with 5 minutes a day feel good messages and they do not trade themselves.
Build a system that eliminates the potential for mistakes or randomness then rinse and repeat perfectly.
Writing this down is especially useful when juggling with various strategies which we often end up with when we spent a fair amount of time playing.
Here is an example of a breakout trade:
And this becomes:
Screenshot of the diagram:
DOT/USDT - Bull run on the wayBlue line of Komodo Trails look solid, this indicate the trend is strong enough to breakout fibo 0.382, and there is a signal to buy with Sideway Bullish indication. if the trend not strong enough to break fibo 0.382, it will hit the yellow line of Komodo Trails, which is strong support area. this might be it. buckle up. BINANCE:DOTUSDT
DISCLAIMER,
This is not a financial advice, suggestion, nor decision you should follow,
Calculate and analyze everything again before making a decision to entry a position.
Do it with your own risk.
Trading Psychology 101: DevotionYour beliefs shape the way you live life. Change your beliefs, change your life.
Trading Psychology 101: ConfidenceMany new traders do not have trust in their strategy. This could be due to a number of reasons, lets delve deeper.
Successful Short Trade (BOOMER Market)Cable (British Pound Sterling , GBPUSD ) is in an obviously beautiful BOOMER market, accelerating North!
During an Uptrend market like this is, one of the wise things to do - is to ride the wave, buying on dips.
As per the CONDI Trading System rules, the only trading allowed in this setup is (strictly!) with the trend.
T.m. only taking Long trading opportunities, 100% confirmed by the CONDI Trading System.
Recognized (yet another) such opportunity at point marked with the callout.
Trade successfully closed with profit within 9 1h candles.
Happy CONDI trading!
A simple novice friendly systemToday I'm bringing you a system that uses simple price action, fibonacci and 1 basic indicator.
As simple as they come, everyone has to start somewhere.
On the 4 hour chart, after the price made at least 1 higher low, with the RSI remaining above 30, followed by the price going up and RSI crossing 50, a buy signal is generated.
The entry is going to be 23.6% retrace from the top, and this trade is cancelled if the price just continues for many candles without pulling back.
Set a stop loss at 50% retrace and target of 4R.
I would start on GBPUSD, check a few examples, try it out, and then if it works out start looking around other pound pairs as well as try to optimise the system as I'm learning more.
Some optimisation paths: It seems to work best as a downtrend is reversing and when the price crosses the 50 rsi line with violent green candles after bottoming.
A couple of examples:
Do not use a system without testing it first.
RISK MANAGEMENT STRATEGYKnow when your Trading Setups are no longer Valid, Reduce Your Losses, Live to Trade Another Day!!! It's Simple, It Takes DISCIPLINE and Daily Practice.
Review of yesterdays trading on H1BO. November 30, 2020Yesterdays H1BO trades on EU, GU, GY, AU, EA, FTSE
TREND TRADING STRUCTURES FOR SUCCESS !!!A simple way to identify trend structures within the intra day charts. Stick by these structures and mould your strategies around this and you will succeed!
21/10/2020 EURUSDYesterday's upmove signal possible continuation. But price action looks overstretched, thus I would expect at least a pullback, support before any further up move.
Above 1.1780 I will be long bias. Gd to wait for price to pullback to enter. Upper targets/resistance are 1.1854, 1.188. In the unlikely event of strong up move 1.1936 will cap high of day. Low risk sell level.
Below 1.1774, look for shorts to target 1.1746. 1.1726 should cap low of day
Successful Short Trade (BOUNCER MARKET)DJI (Dow Jones Industrial Average Index) is in a disctinctively beautiful BOUNCER market, at the point nose-diving South.
During a market like this one is, the wisest things to do - is to trade riding the current wave, capitalizing on it.
This time we are applying the CONDI FAST TRACK Trading System. CONDI FastTrack is 4-times faster than our stadard system,
making use of the 15m chart as the base/main time frame for the system instead of the 1h frame...
As per the CONDI Trading System rules, we are allowed to trade both long and short within BOUNCER Market, which is nice.
T.m. at the moment making use of Short trading opportunities, 100% confirmed by the CONDI Trading System.
Recognized (yet another) such opportunity at point marked with the callout.
Trade successfully closed with profit within 2 15h candles (within just 30 minutes).
Happy CONDI trading!
Copper possible monsterBig demand for indu metals. Or at least price is going up for some reason. Maybe suriv supply problems?
Been following this one for a while. Could be a time to buy again. I don't even remember how many times I got in and out in the last 3 months.
Not dozens either but more than once or twice.
Anyway in general they (real world use metals) go up this year.
A big scary rapid move down is exactly what I was waiting to see in this market. I hope other buyers got scared and removed their orders (and will buy higher when there won't be big scary moves)
Anyway with a RR huge like this I don't need to win often here.
Worth a shot imo.
TESLA BUY NOW RUNNING 1:16 RR!!Great BUY here on TESLA, BUY activated @ 1497.... Price now around 2049! Now running at a RR of 1:16! BOOOM!
What is our strategy?
Our strategy is a trend following strategy - that is coded in pine script to use with the trading view platform - the entries are shown automatically! NOTHING is done manually, it can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time frame, so we can back up over 4200 previous trades to confirm our edge from previous data. This gives us confidence in execution and belief in our trading strategy for the long term.
The strategy simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and multiple TPs (although we hold until opposite trade as this is the most profitable longer term plan), lot size, etc.
This could be on your phone trading view app, or laptop of course.
The hard work is done, so we have zero chart work time, no analysis, no time front of the chart doing technical analysis - technical analysis is very subjective - you may see different things at different times - how do you have a rigid trading plan on a H&S shoulder pattern? Your daily routine, diet, sleep, exercise can affect what you 'see' and your decision making, this doesn't happen when a strategy is coded like this; what we do have is a mechanical trading strategy...
What does this mean?
It means, we are very clear on our entry and our exit and use strict risk management (this is built in - put in your account size, set your risk in % or fixed amount and it will tell you what lot size to trade!) so we have no ego with our position and we are comfortable with all outcomes - its simply just another trade. This free's our mindset from worry and anxiety as we take confidence from knowing our edge is there and also that we have used sensible risk management.
The strategy itself can be used as a live trading journal too!
EURUSD darf falle-le-lenGuten Morgen liebe Trader,
nach wie vor haben wir im übergeordneten Chartbild kontinuierlich bärische Struktur die wir natürlich weitestgehend mitnehmen wollen.
Aktuell befinden wir uns erneut in einem interessanten Korrekturbereich wo man sich mehrfach hätte gut positionieren können, in meinem Fall als Intradayhändler bot sich gestern das 66.7 KL in grün gut an. Ich und mein Team liegen bei diesem Trade im Moment bei guten 40 Pips im Profit und lassen den Markt nun risk-free bis ins Ziel laufen.
Anmerkungen und Ideen gern in den Kommentaren hinterlassen :)
Grüße,
Chris
Successful Long Trade (BOUNCER Market)Yet another Bouncer market beauty - spotted with the popular USD/JPY FX Major.
As per CONDI Trading system rules: When Mr. Bouncer rules the game, we are allowed to shoot both north and south.
If a trade is fully confirmed by the CONDI System, that is.
Spotted a 100% CONDI-confirmed long trade at point marked with the callout.
Trade successfully closed with profit within 2 1h candles.
Happy trading.
system short attempt 9system short attempt 9, last months profit on system was pretty meh closed around 1% in total profits out of 8 trades , most were closed break even etc
GBPUSD PIPS captured left rest to run. UPDATE June 21 2020 Patiently waited for the trade to progress. PIPS were capture and now at BE for the 30% left of the orders.
