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There are two main psychological ways traders initiate their trades
1. I expect price to go this way, so I will take this trade.
2. I see my setup pattern (edge), so I will take this trade.
Always work on being on the #2 side
Do we have enough bulls to break above? Where are the breakout followers and retest people? 😂😂 Have a lovely weekend folks 😆
Bitcoin 15m. Double loss. My bias was correct but the liquidity reach is going far beyond what my scalping TF is. Market went after upper 2H zone. This indicates that the market is in low volatility and that there aren’t many people participating in crypto market at present time. I remember being able to scalp without much stop hunt challenges few weeks ago, but man... this is just too much now. I am being forced to modify my trading plan to reflect waiting for more volatility. Low volatility causes spikes in either direction, which makes sense for the banks to do. I dislike losing in PvP against the banks.
1. Teal Filled Symbols represent markets in session (I wondered why there were green and teal lol)
2. Each currencies have their power. This comes handy in determining momentum of specific currency as confluence. For scalpers, this is a great arsenal of choice. Side by side comparison of charts. Keep what techincally fits and trade what makes maket structure sense. Discard pairs that don't fit the scope of scalping. I basically learned to cherry pick today. Became more efficient than yesterday and will continue to improve. Learned incredibably "A LOT" again and look forward to becoming a pro one day. Mental muscles are getting swol as F..
11 263 days ago
NU5m. Win. I’m not so proud of this trade as it was one of those “whew.. glad it went my way” type of win. As USD’s power went through a turbulence today, I could not gauge how far the swings were going to be. Became little shy and went for a safe 1:1 ratio. Not my favorite but I will take it!
4 213 days ago
UJ1m. Break Even. Got out as soon as the relevant candle was rejected and printed gravestone doji. Sharp USD sell off followed by rebound made it difficult to get in. But then I’m still a newbie so it’s all good (not for long!)
2 163 days ago
BTCUSD. Win. Recovered loss from last trade plus more. Stick to your bias always. My trading colleague shared with me his Bollinger Band’d RSI trick. I believe this will help me get a better entries in crypto so I don’t incur losses as much. Always keep looking to improve.
2 233 days ago
BU30m. Loss. SL hit. Market went up to grab more liquidity before sonic boom. Double down on the same bias on the next trade post.
GU15m. Triple kill winning streak. I noticed when GBP breaks down from the same pump, all the other correlated pairs in respect to GBP also has similar influence. Sort of like altcoins in crypto pegged to the Bitcoin as Mother. Learned tremendously “A LOT” today. Haha! Calling it a day. FMG Out.
1 284 days ago
EU15m. Stress free trade this one was. Good pair for me today.
4 324 days ago
GJ15m. Entered again. Fake pump = Profit. Love being a scalper!
6 304 days ago
GJ15m. Break even gtfo. Was eyeing how legit that pump was. Doesn’t look too legit but it might want to go double top before breaking down. Got out. Risk management.
I am back! Sorry for being inactive for so long but I have been pretty busy with few important things - one of them was improving ForexSignals.com for you guys so check it out! Also, make sure to watch Andrew's latest video on how to correctly draw trendlines in Forex, it's great!
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