tradingjedi replies to: Trade with Naked Eyes

Bring in that big boys attitude in your trading. Who are those big boys could be bank/financial Instituation/big time investor/news/country/POLITICS/ etc

Read their mind through your chart and the way they moved and the possible way they could move and u move accordingley

Having said that how I read their mind step one

starting from M5 chart spot those big candle either bull/bear and check in that M5 how further away or further down they travelled.Those travel up or down again draw the line whcih is basically will be the support or reisestnce for you to pull out that 10 pip

As soon as you open your computer dont use your mouse to click the buy or sell

Even M5 chart could be daunting for you or you are bored with it and those are the times we can call as consolidation means no one has taken the view or the direction. These is the time you have to move just above M5 to M15 or M 30 or to H1 or to H4 or even daily and analyse

if you are in EU trader for 24 hours or that matter of any currencey for 24 hours it is easy pizzey(I LOVE THAT PHRASE)

Try to go in one direction to get that maximum out of that situation

Stop loss very important

additional order if you are dam right will bring in u more money. Start with small order and then add more on to it . do not glare in your computer screen that I am happy I got 10 pip be alert to pump in that situation to create more qty within ur budget

What are thoese additional order nothing but retracement . Retracement does not mean that the price is going to fall down/move up at great length

Say for eg there is no news on everyday basis for companies like google/apple . The news for them could be monthley or 3 months basis result or one of the big gun went away from that company and the market panicked and we take the advantage. No Indivdual is important for the comapany it will run even without him because they have the basic foundation to move

The news is created on an hour to hour basis . You know what are those news

I put a buy order it got clicked and I saw 1 pip green and I went for a smoke and it got vanished/ Your chart view is not correct

I got up from the bed and i saw the EU went up or down by 20 pip shit I should have been their /Then these the time you have to be alert and look out for that retracement

I got Pizzed on that day say last thursday the EU went up by 100 pip and I was not in my trading desk because I went with my girl friend or famley outing.Not to worrey you have another day in ur trading desk

Sorry for my english or spelling

Every trader has a day/

Confidence/ Practice/ patience is very important in forex

Leave a Reply

Your email address will not be published. Required fields are marked *