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    Thread: moneygrow's trading journal

    1. #2891
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      Quote Originally Posted by PhantomTrader79 View Post
      It's normal to have different view on the market because we are looking at the market from different time frame or different strategy.
      I was basing my recent view on H4 so of course it's different than our mod moneygrows because he is using D1 chart.
      But yes, using bigger time frame like D1 will result in big pips if you can catch it correctly.
      You are right. It is possible that we see different opinions of different traders on this forum. some time a trader think that the trend is bearish and other think that it is bullish. both traders can be right at same time because time frame is much matter to analysis the market and predict it for future. So we should accept all the view of trader because they are using different time frames for analysis which can be right at same time.


    2. The following 8 users say Thank You to Malik Basit for this useful post.

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    3. #2892
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      Quote Originally Posted by Borneo Scalper View Post
      a scalper lives for the day. We dont plan forward 3 months earlier for scalping raid. Same with NFP. I only check calendar once everyday and that is only for the date, not the next day or the day after.
      I like one habit of scalpers very much that they never left positions for tomorrow, every day is a new day now carried worries from previous day. This always give them fresh start and they plan better due to it. But one thing is true it cannot be done by everyone on trader with highly developed technical skills and with good market knowledge can scalp.


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    5. #2893
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      Quote Originally Posted by kashifrehman View Post
      I like one habit of scalpers very much that they never left positions for tomorrow, every day is a new day now carried worries from previous day. This always give them fresh start and they plan better due to it. But one thing is true it cannot be done by everyone on trader with highly developed technical skills and with good market knowledge can scalp.
      You are Right, I feel scalpers are always prepared for a loss than other traders. Their trading style has given them the mindset to not hang on to losing trades and only stay in a trade maximum of few minutes. Maybe it's because they cut losses "small" that is why they are so cool with taking losses and moving on to the next trade immediately, whatever it is that makes them do it, every trader needs such skill


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    7. #2894
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      Good Morning Guys!
      So finally the summit between North Korea and USA is underway officially. Doesn't matter what happened in past regarding this but now we can expect some big movements after one on one meeting between NK Leader and US President. Markets are quite so far and traders are waiting for fundamental opportunities to enter and do something. Any positive or negative comments will definitely affect the market and we can see big movements within minutes. Be careful guys before make any trade in market. I don't think that technical will help market to move today but fundamentals can easily do.
      Good luck for upcoming opportunities!
      If you can Dream it, You can do it
      Be Bold and Take Risk


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    9. #2895
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      Hopefully market movement are triggered by fundamentals ,but more often ,they trail the route of technical analysis. The divergence should not be much ,because they always complement each other.


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    11. #2896
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      Quote Originally Posted by Omoba9ce View Post
      You are Right, I feel scalpers are always prepared for a loss than other traders. Their trading style has given them the mindset to not hang on to losing trades and only stay in a trade maximum of few minutes. Maybe it's because they cut losses "small" that is why they are so cool with taking losses and moving on to the next trade immediately, whatever it is that makes them do it, every trader needs such skill
      Agree with you dear Omoba9ce and I think scalping trading system more high risky trading system. I think if you have lot of good skills, good experience, proper knowledge about world economy, proper market analysis, follow strong money management and discipline on trading then then you may use scalping trading system other wise try to avoid scalping trading system because simple mistake can bring big loss that's true. Thank you.


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    13. #2897
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      Quote Originally Posted by Omoba9ce View Post
      You are Right, I feel scalpers are always prepared for a loss than other traders. Their trading style has given them the mindset to not hang on to losing trades and only stay in a trade maximum of few minutes. Maybe it's because they cut losses "small" that is why they are so cool with taking losses and moving on to the next trade immediately, whatever it is that makes them do it, every trader needs such skill
      It will be more easy to scalp if, you use bigger timeframes to take some pips. The 1 hour chart is good for it, as it gives you the time to think why and how to cut loss if, the price moves against you. Two rules that we should never forget are to watch the news and the market direction very carefully.


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    15. #2898
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      Quote Originally Posted by loveyo View Post
      Agree with you dear Omoba9ce and I think scalping trading system more high risky trading system. I think if you have lot of good skills, good experience, proper knowledge about world economy, proper market analysis, follow strong money management and discipline on trading then then you may use scalping trading system other wise try to avoid scalping trading system because simple mistake can bring big loss that's true. Thank you.
      Scalping is a very good way to trade but can also become dangerous as well if not handle well, scalping requires lot of dedication and lot of supervision, we can't be involved in scalping and afford to get distracted, it's dangerous. And while scalping traders account get to be more exposed to loss because, they open more trade than most trading techniques.
      But with good understanding its an exciting way to trade.


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    17. #2899
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      Quote Originally Posted by sonibark View Post
      Scalping is a very good way to trade but can also become dangerous as well if not handle well, scalping requires lot of dedication and lot of supervision, we can't be involved in scalping and afford to get distracted, it's dangerous. And while scalping traders account get to be more exposed to loss because, they open more trade than most trading techniques.
      But with good understanding its an exciting way to trade.
      When we have to scalp the pairs then we must have to understand that we have to lose some of the balance otherwise if you try to gain good income from each of your trade then it is really no possible to gain income so you must have to book the loss from your trade or you have to follow proper risk management for your trades. Without risk you will not able to gain and it can also provide you good amount of income as well so it is the double ended sword.


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    20. #2900
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      Hello everyone. Sorry for not updating my journal for quite some time now. I was not feeling well for the past week. Been having fever and only this week i was able to write and do proper analysis. Overall i am still with the downtrend on GBPUSD. Looks like the retracement is about to end this week. FOMC in 2 days time. Rate hike is inevitable. Sell during retracement.

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