The Real Forex Trader – Do you have What it Takes in Series 2?
/r/Forex Trading Community
Welcome FXGears' Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /Forex is the official subreddit of FXGears.com, a trading forum run by professional traders. FXGears.com hosts and moderates our chatroom, and has developed such tools as the chart bot you'll find available in chat.
A place for redditors to discuss quantitative trading, statistical methods, econometrics, programming, implementation, automated strategies, and bounce ideas off each other for constructive criticism. Feel free to submit papers/links of things you find interesting.
I’ve been learning forex for about 2 months, at the moment I’m practising trading pullbacks with Fibonacci and candle stick patterns, this set up shows a pullback to the 50% retracement level with lines up with previous resistance now acting as support.
Real quick before I get into my next steps of my FX Journey, id like to say thank you to all the people who commented on my last post! All of the tips I got were really eye-opening and introduced me to different parts of FX trading that I didn't even know existed. So thank you so much, and I hope to get more interesting feedback from you guys in the future! Also Im going to probably change my writing frequency from daily to biweekly. I think writing about every little trade is not going to be as beneficial to me as writing about my overall progress at certain points throughout the week. I started this trading day out by learning up on order flow. A whole bunch of you guys suggested really interesting youtubers to watch, and I started with Mr. pip's series on order flow. After I finished up watching a few of his videos, I started to tweak my trading plan so that I could get in some chart time. I changed currency pair from EUUSD to the AUD/USD, the time frame from the 4 hour to the 1 hour, and my indicators from RSI, Stochastic, 2 SMAs and ADX to ATR, RSI, and Ichimoku Kinko Hyo. I also added a little fundamental analysis in my trading plan because I think that I am being far too reliant on my indicators. I planned to check the economic calendar and determine the general trend of the currency pairs that are strongly correlated to the AUD/USD before I began my chart analysis. In addition to all of my analysis, I tried to practice using the techniques I learned in Mr. Pip's videos and analyze the order flow of the chart. Even if my analysis of order flow is wrong, as long as I am getting practice I am learning. Eventhough I planned to use today to back-test indicators and find a solid new plan, I did not have enough time. I ended up getting on my demo account really late in the day, and started to force myself to enter a trade. Destructive habits like this could lead into some massive issues when I eventually get into live trading. To combat this harmful attitude specifically, I will restrict myself to trading on certain parts of the day (for example session overlaps, news releases, and earlier in the day). Despite this mistake I still continued with my trading strategy. I calculated all the currency correlations for AUS/USD using the past weeks economic data, and set my indicators in place. After checking the overall trend of the most strongly correlated pairs (Positive: EUUSD, GPB/USD, Negative: USD/CAD, USD/JPY) I started to analyze the order flow. All the correlated currencies, except for EUUSD, indicated that the AUD/USD would fall, while my order flow analysis indicated the opposite. Seeing as though I am extremely new to order flow, I dismissed this analysis, and ended up forcing a trade on the AUD/USD going short when my indicators seemed to line up correctly. I learned from last time that I should not alter or close my trade purely based on emotion, and to just wait till the market hits my stop loss or take profit. I included a trailing stop loss of 60 pips this time, but I have no evidence to base that number range on. The trade is currently open and I am down about 30 pips. Although I am not labeling this trade as a loser yet, I can definitely see a lot of holes in my trading strategy. The most obvious mistake in my eyes right now is my use of indicators. Currently all my trades are purely based on what my indicators say, and since I do not have any back-tested data to support the credibility of my indicators, it feels a lot like strategic gambling. Another issue is that I feel far too reliant on indicators alone. I think that if I can find ways to include various types of analysis efficiently and evenly in my trading plan I will become a much more skillful and well-rounded trader. In order to combat these two issues I will begin forming various types of trading strategies this weekend and back-test them all extensively. I also plan on researching more on price action, order flow, and Naked Forex. Once again any and all feedback is welcome. I am just beginning Forex, but it had been a huge passion of mine and I don't plan on stopping anytime soon.
Are you looking to make 20-30 pips a day in the #FXmarket? Then download this cool #signalsapp. We post 2 signals a day for 20-30 pips profit. Here is our recent endeavor in #EURJPY where we scored 30 #pips. Get it now. https://traderpulse.com/forex-trade-signals/#pricing
http://twitter.com/forex_in_world/status/1309341932062232576Mech Machine Update: Internal Bar Momentum Strategy 2.0 (Sept. 18 – 25) https://t.co/PGcZTWH0v0— FOREX IN WORLD (@forex_in_world) September 25, 2020
http://twitter.com/forex_in_world/status/1306812807996936193Mech Arrangement Update: Interior Bar Momentum Approach 2.0 (11th of September – 18)) https://t.co/PR8EFbtWV4— FOREX IN WORLD (@forex_in_world) September 18, 2020
FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). Forex trading involves significant risk of loss and is not suitable for all investors. Full Disclosure. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. FOREX.com Web Platform ... Loading... Forex Insider 2.0 (Free) Shows live trading positions of Currency Traders. Forex Insider is a Meta Trader app what allows you to see trading positions of other currency traders. It allows you to spot order imbalances, extreme oversold/overbought conditions and squeeze moves before they happen. Try it for yourself. Free analytics FOREX. Trading signals and recommendations. Examples of transactions on the basis of forex forecasts. Quality articles about Forex. For advertising please contact us at our email. [email protected] CFDs and Forex are complex instruments and come with a high risk of losing money. Forex Compounding Calculator. You can use the compounding calculator to calculate profits of the Swap Master Trading System and other interest earning. This allows you to understand better, how your trading account will grow over time. One of the most interesting facts about compounding is, that even a moderate monthly gain turns your initial ...
Forex trading for beginners by Adam Khoo - YouTube
FREE: 3 - Part Reversal Series - https://goo.gl/QKaxzV CHECK OUT: EAP Training Program - https://goo.gl/7RrMM5 JOIN: "Advanced Pattern Mastery Course" Waitin... Hey everyone! This is the second video in my forex series! If you like the video make sure you comment like and subscribe to my channel. If you have more que... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Discover proven Forex trading strategies that work so you can beat the markets in 2020 and beyond. 👇 SUBSCRIBE TO RAYNER'S YOUTUBE CHANNEL NOW 👇 https://www.... * Thông tin nhóm đầu tư nâng cao: https://goo.gl/FnBRWR * Đánh giá mọi người về nhóm nâng cao: https://goo.gl/oaio7o * Nhắn tin vào fanpage để nhận tài liệu ...