EUR USD //UPDATE

Well, The EUR/USD made a pretty good move upward these past days. if you took it then well that’s awesome but in case you missed it, let’s go over it and see what happened. So,….

1- Trend has been upward for a while now..
2- another trend forming a channel upward that is sorta like a triangle has been broken
3- at the first orange (small rectangle shape) the price stutters and then spares upward
4- the larger orange rectangle indicates the current price level and the previous movement at this price
it was choppy so for a precise entry we would have to wait it to clear it upward or downward.. given that after this choppy movement the price went down and given that the price is likely to repeat its previous movement. we could sell after the downward movement starts..

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Indicators (Indicators Everywhere)

So many people see a website offering a new indicator and when they lay their eyes on the results, they go running to the (BUY NOW) button.. People who sell you indicators are not winners nor they are  forex traders even. They are usually scammers who thrive on your purchase of such tools to keep them rich. Indicators are not useless (Do not get me wrong) I love indicators and think they are a great way to make money from Forex.I’m here to inform you that not all indicators are good and those one being sold for a lot of money are usually crap and don’t yield any good results.

Someone will create an indicator based on a moving average crossover and have you convinced that it’s a new unique formula and to further proof it, they will take a screenshot when the indicator BEST PERFORMED ever and post it as proof with no regard for other performance and then they will write, you could have made 100 pips here and there and even when you check you charts (There was no way in heaven you could have gotten a 100 pips from that movement after the spread).. and they put the exit randomly wherever they see it will show the best results..

DO NOT FALL FOR IT… You’re an educated person and you’re above all of this.. It’s like telemarketing, They just want to shove products down your throat, take your money and have you convinced that you paid for a premium product that’s probably a cheap replica or does not do what they said it would.

ALL IN ALL…
Indicators are helpful and some systems are based solely on indicators and they do quite well. Some people get rich trading with indicators. It’s not impossible to be successful using such tools when they are programmed well. Just Do Not fall for advertising crap.

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Some of the trade I followed today (Using the Genesis Indicator)

Hello,
I will review some of the trades I followed today.. I didn’t trade or take any of those deals, I was just following them by eye to learn more about the entry rules.. For more on Genesis Indicator, Check my trading journal section on the blog. :)

No further explanation necessary :D It’s all on the images :)

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SMA + ADX (Trading IDEAS)

Please, note that this trading system has not been tested and it’s only an idea to consider and test on your own if you like it..
I created this strategy out of curiosity and for educational purposes and I DID NOT TEST IT. BE CAREFUL.

For as long as I can remember I loved using the Moving averages as a trading tool to identify trend and entry points. Now, I have an idea for trading using the SMA 200 and SMA 26 + The ADX indicator (Value = 14).

Entry Rules For BUY TRADES:
1- Price is above SMA 200

2- Bull Candle Closes Above SMA 26

3- ADX Green Above Red


For Short Entry (Selling):

1- Price must be below SMA 200

2- Bear Candle Closes Under SMA 26

3- ADX Red is above Green

Time frame and pairs are any of them. All works okay if you follow the rules. Higher time frames are better for sure.

WHAT ABOUT EXISTS / STOPS / TARGETS?

Stops are 10 pips below or above the SMA 200
and target are 1.5 times the stop or x2 the stop — if stop is 20 pips then target is 30 or 40 pips/

All the luck <3

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USD-CAD (Possible BUY Soon) May 7th 2017

The USDCAD showed a great upward movement over the past couple of weeks and it broke the highlighted resistance. So, it is now time to wait for this area to be re tested. MEANING, when the resistance broke, it turned into a turncoat (untested support) which means we have to wait for this zone to be tested and if the price bounce off it upward then Congratulations we got ourselves a good support level and a decent buy.. I expect the price will go down to test it and go back up but in the case that when it gets to that area again and makes a bearish movement below then the bias for selling will be accurate :)

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Taking a look at GBP/JPY with the GENESIS Indicator

The Genesis indicator is a helpful tool and a system in itself  if you know how to use it. I’m still a beginner when it comes to trading with it but I’m gradually gaining more experience.

-Seems like the price made a giant bullish movement over the last days and the Genesis indicator perfectly predicted it, as well as the Weekly stochastic showing the exact same thing when the movement happened..  Currently price is at the resistance highlighted in the chart. If one were to enter based on support and resistance levels, That would be a great Sell deal right there once we get just a bear candle on the regular candle stick chart ( Or if one were to go down to the 4h chart, there would be a clearer picture of the candles formations).. In any case like I said, A sell is great when the price shows strength in the bears..

What If we want to depend on genesis alone??
That’s another way to trade and we could simply wait for genesis to give us a RED bar and when the daily candle closes and stochastic is angling down, we enter a sell without fear.. I assume the target for this one will be huge as this is a daily chart on a currency pair that moves in waves. :)

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USD/JPY / May 6th 2017

1- Trend is up, clear as day

2- Highlights is the support that was broken thus making is a resistance to be tested

3- If price making to close by another big bullish bar that means bulls are strong and we BUY

4- In the case of a bear movement happens when the market opens then we Sell

5- Movement might take couple of days or weeks to happen

:D I hate USD/JPY  but it doesn’t mean I should not take a look at it.

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GBP/USD (Room for selling or not?)

Hello,
let’s take a look at the GBP/USD under the microscope :D


In simple enough points,

  1. The overall movement is downward
  2. The recent movement is upward (So, we assume there’s some strength for the bullish force)
  3. the highlighted area shows the price at a turncoat support
  4. plausible scenario is that when the market open the price will start to do down adhering to the highlighted area
    But if it breaks through it and closes with a big bullish daily candle then a Buy deal is very plausible..

    Turncoat support (means a support level that has been broken, thus making it a resistance that we are waiting for it to be tested) :)

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Planning for better performance

How can you plan for better Forex performance?

A plan, without a doubt, is something that you must have in order to reach your goals. You can not move about with directions and hope to reach your destination. Coming up with the best plan that suits your goals can be hard, though. You gotta have specific steps to follow and calculations of risk and things like that. It’s no fun but yields a great result.

No.1 Thing to do, Is To Figure Your Goals..
what do you want to achieve? 50% profits monthly, a higher capital? or simply maintaining your profits each months?
for argument’s sake let’s say you want to earn 20% of profits every month.

No.2 Planning
If I want to make 20% every month and I have 1000$, that’s 200$ of profits.. How can I achieve that with minimum risk?
Do I have a strategy? (Yes) Is it good and do I have experience with it? (The answer must be YES)
If so, then you’re half way there because having a good entry and exit system is half what forex requires to provide you with profits..

What then??

You need to calculate your risk.. So, If you trade everyday and possibly enter 1-2 deals then that would be 5-10 trades per week, (MAKE THAT YOUR LIMIT OF ENTRIES) so you don’t enter more than 10 deals per week and your risk in each trade should be limited.. (HOW MUCH?) it’s safe to say that a percentages of 1-5% of risk in a deal is okay.
So, you can risk anywhere between 1-5% (let’s say 3%) and you enter a max of 2 deals..

ONLY PICK WINNING TRADES ( Trades with a high probability of winning)
No matter what people may have you think that forex is a science, It’s not.. it’s a game of probabilities and whoever makes the right prediction wins but it doesn’t have to be gambling ( your predictions can be based on some sort of formula liek a strategy, an indicator or your eyes and brain)

Seriously Important (Remember these things)
-You’re a machine that adheres to the rules like nobody’s business, You don’t stray from your plan
-You don’t get greedy/ you have a target, you reach it and that’s it.
-You trade at specific times of the day and no more
-You DO NOT over trade, finish your session and leave the desk

Last but not least…
Stick to your plan like glue.. One day of results or a week doesn’t define who you are. Months will determine what kind of a trader you’re.

Happy hunting :)


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You’re not finishing what you started

Hello,

Today, I would like to talk to you about a reason that might be the cause of your loss or the reason you quit Forex. Sometimes people stop halfway through learning or doing something and it could be because lacks of motivation, failing multiple times or even your environment is just not that good and it hinders your ability to achieve what you want.

I AM ONE OF THOSE PEOPLE…..
Everything around me is just trying to stop me. There are noises every minute or everyday – a market in front on the house, people shouting for campaigns, very loud mosques, raging neighbors or simply your family making all kinds of disturbances while you’re trying to relax and be as clear minded as possible in order to focus on your thing which is forex.. So, you would be getting ready to trade and everything is just wrong that you end up either stopping completely or even worse -going through the motions mindless and doing all kinds of wrong stuff-.

IT’S BAD, I KNOW
.. like I said I go through the same thing everyday and this sometimes leads me to quitting on something because I just can’t focus on it and be good at it with all these distractions. BUT I’m here to tell you that it’s possible to do your thing and avoid all of these distractions.

-You can find a time where people are sleeping, so you can enjoy your peace and tranquility and do your work.
-You can find another place like a calm coffee shop or something to do your work their in a quite environment.
OR
-You can simply choose to shut the world away, like nothing exists and you do your stuff no matter what happens.
But you don’t quit,,,You finish what you started and you finish it well. You don’t let stupid things like that stop you or hinder your progress :)

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