AUD/USD. Daily Timeframe. A gap in the market and a push to the upside was the call today. It's going to take strong buy pressure to break the resistances to the top in this lovely down channel. LETS BE PATIENT💎
Went short at support turn resistance. M30 had a respected bearish engulfing. When price pushed to the down side I did move my SL to break even because protecting capital in this game is the name of this game. Price came back up and took me out. And that’s it, that was my trade for the day. Till tomorrow 🤣
So as promised, here's my review of my first week of live trading. Overall a good week in terms of accuracy of trends, I always expected that my first week would be a small profit (profit non the less.) This week I've been more concerned with the ratio of win/lose, I'm happy to report a win of 32, loss of 2 and broke even on 2 giving an overall profit of £12.30 with an average win of 30p with micro lots, not bad considering I've done it around working. My learnings from the week is to review my SL/TP and and historical trends, let's see what this week's brings.
Every year we lose money in the market and every year we set the same goals... No matter how much you lose, just ensure that you win more than you lose because that is how you become profitable in the end. Having a good risk to reward ratio and correct risk management is the key to success in trading.
You have the control. The broker does not take the money from you, you are the one who gives it to them.
•GBP.NZD• This is a signal/ analysis sent to the team on Nov 29 2018 (no longer valid). The purpose is to show how by doing properly analysis on the higher time frames can give you a significant edge on lower time frame entries. To start your free trial with team FXG sign up at www.forexgentleman.com. #teamfxg