AUD/CAD 20 Jan 2020

First trade of the year !

Happy new year my dear followers.

I wish everyone 2020 to be the year you use the skills acquired on your trading learning journey, and have a clear plan to execute without emotions.

I have uploaded a new video about how to train your mind to win, not just the skill. check it out here:




Anyway. let get into the trade.


I opened my chart yesterday and I stumbled across the AUD/CAD.

This is the 4h structure.

As you can see we have 1, 2, 3 drop ...

We will be expecting the down side finshed and we are are looking for a raise 1, 2 , 3.

Simple but not very simple :)

The buyer zone highlighted in green is where I was expecting the rise to come from.

So pretty much I have most of checklist achieved. review my YouTube material specially ( follow the money videos) to know what checklist i look for in each and every trade.


Now, into the ENTRY.


let go to the M15.


My divergence that I look for is there, I executed.  The market pushed further to inside the zone to penetrate more. This a shake up to kick you out and stop you from the trade.  Yesterday was a holiday in the US.

I explained before some of the market masker tricks.... DELAY the move,,,,till you give up.

Anyway, they did not made any advancement yesterday, they kept playing and pushing further to stop you from going long .


this how It developed.



As you can see the damage they were causing, creating a low coming back again to take anyone have the SL beneath it they did this all day.

You can imagine the amount of frustration you would be in if you are in the trade. This is why you need to train your mind how to encounter such overload and frustration and remain calm. 

Anyway, they took me out -7 pip ...  My SL was tight.


Today, 21 Jan..

As you can see I'm on the trade again.

My SL is break even plus 2 pip. and we will see how the trade plays out.

Peace out !

Update :

 The trade did not go to my direction. and instead to my SL.


This is one of the common mistake, started looking at the left more than the current, yest we are approaching buyers on the other side.... But looking deeper you can see we building seller castle going down. I completely neglect it.

It's ok.  You learn .... my eyes were not ready as this is my first trade of the year.

In trading we have many tools we relay on such as risk management, where you can have losses and keep on going. One loss MUST not break you.



Comments

Post a Comment

Popular posts from this blog

GBP Pairs

Trading the GBP pairs is not the same as trading USD pairs. GBP pairs are volatile. What seem like a small move on the chart. Its usually  20 to 50 pip. So its very important when trading GBP pair to make sure you have the correct position size.  So you don't get surprised! which also makes them very good movers, but always need to make sure you catching the move from its last resort, so that you don't expose yourself to unnecessary slowdowns. If you are still not confident on your entry, ignore GBP pairs and focus on USD pairs or CAD pairs instead. Stay focused.!
Read more

GBP/USD- 18 DEC 2019

Image
The last time I traded GBP/ USD I was on the buy side. But as you seen from the last post I get BE and 20 Pip on the other position. So As I was teach and say on my videos. You always always need to see where the market selling from and buying from. There is always 2 opposing forces playing out Buyers or sellers. So I started to see why the seller exists and Lets have a look.... The seller kept making seller zones while they are going doing... They are doing this secretly..... Because most traders eyes is on this huge candle going up. And therefore, most traders will just interested to go up. But Market is playing out on his/her trick... Let them go Long so I can sell . Anyway, Here is the situation now    They decide not to go !! These a fine example of the market that does not want to buy either seller or buyers. They just go side ways..... Well Not everyday in the market is Mercedes C63 ! Sometimes You need to have a pizza and say thank ...
Read more