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U.S. Dollar / Russian Ruble TOM

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USDRUB_TOM trade ideas

HOW TO TRADE LIKE THEM- HOW ID MASTERED FOREX #1I decided to start a lil series on how I’d mastered forex. Firstly I won’t be giving out methods etc but what I will be doing is sharing what I learnt that works best ! And I say best as collectively. As we know there isn’t a golden gun but there are golden bullets and yet each has to find their own, yet my goal will be to help you do so. Firstly, briefly I’d mastered forex in a year, it was a long road I’d lost thousands as I’d counted it and recently I’m able to make consistent income that I’m comfortable in expanding my empire. To keep it simple. Yet I know many ppl win but don’t have the confidence to leave work or say I’m now making a living as a trader. .. Now I’d never burned an account as I have all my accounts active yet one of the biggest barriers is a decent brokers. As blueberry markets is the best yet us USA clients can’t use them. So I’m planning on establishing a residence there off of forex income. But brokers isnt my goal of topic. The golden bullet is market psychology. Also this isn’t to explain how it relates to price in these series but how it implies to you! As I promise you want get here what you’ll get elsewhere and first up is RISK MANAGEMENT Now I did a post on this topic time ago. But I’ll explain it more here and how it implies to psychology. Firstly let me trash these popular beliefs 1. Having a set pip sl. 2. Never risk more than a certain percentage of your account. 3. Atr or any volatility sl based on an indicator 4. Any formulated sl 5. set targets( will be a post) I’ll sum all this up for simplicity with conviction. Yes I understand they are rules, as a traders should have a systematic method. I agree . But here is what most ppl fail to understand The market don’t care about non of the above The market don’t care about your set sl, how much you’ll risk, your 1xatr sl etc - as this is by far the worst method why? Cuz the atr is based on historical price movement which doesn’t reflex current price! Second again the market don’t care about the atr is shit on it every time. If this isn’t so then we’ll have lil movement as what is a breakout? It’s a break in the atr this is what happens.!! This atr price cause an increase in momentum. FACTS so good luck with an atr based sl. So what is the best risk management strategy? THE BEST RISK MANAGEMENT STRATEGY Is to master yourself!! MASTER your emotions and cover it with experience. As the market is 💯 psychology. It moves of emotions of greed, action of impatience, fear, and other emotions that we encounter as being human. And it is used against us no matter how good we are. This mastery comes with and only from experience. Ex. If you seen WE ARE SOLDIERS with Mel there’s a scene where they are gunned down, he’s talking to his troops and a bullet hits his helmet. He’d looked with no signs of fear got angry and started going to work. Now this reaction came from experience of being in battles thus he’s able to respond accordingly while most would duck n hide. My point is trash these methods and work on your psychology as again the market is all psychology! So why bring set rules to a games that only respect psychology? All you are really doing is molding yourself to a standard in this my friend is a rough road as the market always evolving. Now how to master this method of risk management First developed decent price action skills. Stay on the charts and out the books as the chart is your top teacher. Learn how to pick up on what price is telling you and differentiate from the false and real moves as much as possible. Some tips I’d leant for you to apply: My sl when I use one is based off my emotions. I’m always working on checking them with experience to make a decision I’m comfortable with and can accept the outcome. It isn’t a set pip my trades size aren’t calculated I ask myself these questions How to I feel about this trade.? Do I feel the trade will go my way for a set mental target(I’ll give how I set target in another post cuz it enough to b on its own). What if price goes against me soon as I enter or what if price move against me after I’m in profits, and how much I’m willing to tolerate in both cases based off what price is doing not how I feel about losing or winning. I help with these question by this method ex if I’m going short. Firstly I look at the structure of price certain structure have less retacement value them others ex is there any fake support near by. I’d explained in a post what’s real n fake support find it to know. So I don’t want my sl near a fake support as these area are most likely to b retest I ask self is this a dumb money zone (like the area above a double top etc) these are area you don’t want to put ur sl near and sometime it can be the only feasible area and in these cases it’s best not to trade as this is a sign the market is going to do a fakeout b patient n let that play out. Next I ask myself ex say I’m feeling 20pip sl. In the ex I’m going short. If I was to buy this pair will this area be a entry area I will buy at? And if so then this sl area isn’t good. Your sl area should be an area that don’t make sense to enter the market in the other direction at get it? Just a few tips but I feel as I said before the more effort giving to mastering yourself n your emotions the better trader you will become and no set trading rule will help you master your emotions as your emotions been set long before you started trading and will be there after . I’ll also go over more of these do not and up coming post HOW TO TRADE LIKE THEM-
by Donajor8
3
RUBUSD 4H buy opportunity ! 🐮*************************************************************************************************************************************************************************************************** DO YOUR RISK MANAGEMENT AND MAKE SURE TO FOLLOW YOUR STRATEGY LIKE IF THIS WAS HELPFUL TELL US WHAT YOU THINK IN THE COMMENTS THANKS YOU ***************************************************************************************************************************************************************************************************
Long
by azizbtc
Usdrub buy 76.95-775 min chart :Breaking above bunch of ma on 5 min chart and break happened below fibo retracement 0.28 Good location for rebounding to at least previous fibo level or little higher. 4hr chart : steep decline. Two candles with same wicks . Daily chart decline to previous spikes, and approaches strong support level between 76.15 and 75.00 I bought here at 76.95. I was looking at this to buy before weekend at 76.85 were it broke above bunch of ma on 2 min chart, but don’t want to hold it overweekend. I dont have stop loss on this one because if it’s start dropping in to daily support i will accumulate more.
Long
by Forexblade