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    Thread: MartyFish's trading journal

    1. #481
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      Quote Originally Posted by MartyFish View Post
      Finally, Triggered a trade after a long gap.

      Triggered on EN from H1 based on H4 Setup, the backbone of this trade is the longterm bullish trendline coming from down.

      And, as we can see the price is reacting to it so, it's really acting as a good support we got rejection from it on H4 with H4 bounced on it yesterday creating a bullish hammer.

      And, now, we can see on H1 the price again bounced of it creating a bullish hammer. So, 2 strong reversal patterns + long term bullish trendline action as a strong support + the downtrend in H1 looks like has ended as it created a higher high & then a higher low, which signals start of bullish trend & end of down trend.

      So, based on this assumptions, I have triggered the entry with SL at previous swing low @57 pips and would be targeting the area shown in image which would give around 180-200 pips, thus it is a 1:3, 1:4 R:R trade.

      Though, TP is not fixed, I will close the trade accordingly when I felt there is a possible reversal of price turning down.

      Let's wait & watch, how this trade goes and what the market does.


      Update:- Closed my EN trade in +183 pips and I risked a total of 7% (i.e $28) of my bonus account in this trade and gained around 22% i.e ($90).





      I guess it was worth waiting, since i had no trade since last 8 trading days, as of now, my monthly target of earning 20% from bonus account is almost achieved in a single setup.

      Though, it's not like I won't trade further, I will definitely continue to trade if I find any good trading opportunities.






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

      adewale (11-30-2017), balut (11-30-2017), Leonvic90 (11-30-2017), penuelophir (11-30-2017), PhantomTrader79 (12-04-2017), simisola (12-01-2017), Sixteen (11-30-2017), zahidmehmood (11-30-2017)

    3. #482
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      Update:- Closed my EN trade in +183 pips and I risked a total of 7% (i.e $28) of my bonus account in this trade and gained around 22% i.e ($90).
      Wow! That is really a nice profits here and your risk reward is okay too, and if you can consistently keep doing it this way then making money becomes a lot easy and soon you shall become financially free. Keep the ball rowing because you are indeed making good progress!
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades


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      adewale (11-30-2017), MartyFish (11-30-2017), maxiipus (11-30-2017), simisola (11-30-2017), zahidmehmood (11-30-2017)

    5. #483
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      Quote Originally Posted by MartyFish View Post
      Update:- Closed my EN trade in +183 pips and I risked a total of 7% (i.e $28) of my bonus account in this trade and gained around 22% i.e ($90).





      I guess it was worth waiting, since i had no trade since last 8 trading days, as of now, my monthly target of earning 20% from bonus account is almost achieved in a single setup.

      Though, it's not like I won't trade further, I will definitely continue to trade if I find any good trading opportunities.





      Congrats brother for you huge profit, well your analysis was spot on last night, I just found out good setup on EN H1 time frame, it formed hidden bearish divergence, I have posted this setup in my journal, EN is one of my favorite pairs.


    6. The following 5 users say Thank You to zahidmehmood for this useful post.

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    7. #484
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      Quote Originally Posted by zahidmehmood View Post
      Congrats brother for you huge profit, well your analysis was spot on last night, I just found out good setup on EN H1 time frame, it formed hidden bearish divergence, I have posted this setup in my journal, EN is one of my favorite pairs.
      Yes, I saw that and the time of when I exited the trade & that signal came was almost same, which hold me back because i wasn't prepared to take that sell signal as I didn't have analysis in order to see how much potential this setup had.

      But, as of now, when I am looking it, I think the bullish trend in H1 is not over yet and I feels EN will retrace back up to the last high zone & then if it fails to break the last high then I guess I would be interested in taking a sell entry.

      Till then I will wait patiently.


    8. The following 6 users say Thank You to MartyFish for this useful post.

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    9. #485
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      Quote Originally Posted by MartyFish View Post
      Update:- Closed my EN trade in +183 pips and I risked a total of 7% (i.e $28) of my bonus account in this trade and gained around 22% i.e ($90).





      I guess it was worth waiting, since i had no trade since last 8 trading days, as of now, my monthly target of earning 20% from bonus account is almost achieved in a single setup.

      Though, it's not like I won't trade further, I will definitely continue to trade if I find any good trading opportunities.





      When I see posts like this, I have hope that I will make it in forex trading, thanks for motivating us with your profits, I know that with all the success and advice I have received from this journal section, I will be patient to trade my first bonus earnings, congratulations brother Martyfish.


    10. The following 4 users say Thank You to Leonvic90 for this useful post.

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    11. #486
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      Quote Originally Posted by MartyFish View Post
      Yes, I saw that and the time of when I exited the trade & that signal came was almost same, which hold me back because i wasn't prepared to take that sell signal as I didn't have analysis in order to see how much potential this setup had.

      But, as of now, when I am looking it, I think the bullish trend in H1 is not over yet and I feels EN will retrace back up to the last high zone & then if it fails to break the last high then I guess I would be interested in taking a sell entry.

      Till then I will wait patiently.
      that's great, well currently my entry is running in +50 pips profit but even if it stops me out at break even, as you said it will give again a good even better entry price, I love these fast moving pairs, 1 or 2 good entries on volatile pairs every week and we can relax rest of the week.


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    13. #487
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      Quote Originally Posted by MartyFish View Post
      Yes, I saw that and the time of when I exited the trade & that signal came was almost same, which hold me back because i wasn't prepared to take that sell signal as I didn't have analysis in order to see how much potential this setup had.

      But, as of now, when I am looking it, I think the bullish trend in H1 is not over yet and I feels EN will retrace back up to the last high zone & then if it fails to break the last high then I guess I would be interested in taking a sell entry.

      Till then I will wait patiently.
      wee need to wait the perfect moment to enter the market because by doing that it means that we can really control our self, we need to wait until the perfect moment to enter the market because we need to calculate the risk and reward we take every time we open a trade and by doing this i believe that trading can be more profitable


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    15. #488
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      Quote Originally Posted by MartyFish View Post
      Update:- Closed my EN trade in +183 pips and I risked a total of 7% (i.e $28) of my bonus account in this trade and gained around 22% i.e ($90).





      I guess it was worth waiting, since i had no trade since last 8 trading days, as of now, my monthly target of earning 20% from bonus account is almost achieved in a single setup.

      Though, it's not like I won't trade further, I will definitely continue to trade if I find any good trading opportunities.





      That is a good way to go. It is not all about taking too much trades but taking the quality trade is all that matters. That is why I am following the teaching of the experienced traders so I be able to follow the higher time frame that will really be benefiting to me when it comes to taking higher quality trades that will make me money.


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    17. #489
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      Quote Originally Posted by captainleo View Post
      Sorry to hear that Balut, but you are using 0.01 lot size right? Your minus is still less than $2, I think it's no big deal for you. I also still don't know what happen with GBP. It happen in all pairs with GBP like GBPUSD, EURGBP, GBPJPY, etc.. So, how about your trade now? Did you close it or let it opened? I don't use GBPNZD so I don't know what is current price in that pair.
      Yes, only less $2. There was a positive news regarding the Brexit that's why all the GBP pairs went flying. I hedge it because I don't want its loss to reflect on my November trading performance. Maybe I'll release it on December once I accumulated enough positive pip to cover it.

      Quote Originally Posted by Batavia View Post
      might this is not about the dollar but about how to trade well with the existing system and he said if stop loss is set to breakeven price then the loss will not happen, and the breakeven price is already part of the trading system his have and this is means he has violated the rules the system he has created himself
      Yes, I forgot to put it to breakeven due to overconfidence that the GBPNZD downtrend is too strong. Besides, this pair is a bit annoying because sometimes it will retrace to take your SL then eventually left you behind.


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    20. #490
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      Quote Originally Posted by balut View Post
      Yes, only less $2. There was a positive news regarding the Brexit that's why all the GBP pairs went flying. I hedge it because I don't want its loss to reflect on my November trading performance. Maybe I'll release it on December once I accumulated enough positive pip to cover it.



      Yes, I forgot to put it to breakeven due to overconfidence that the GBPNZD downtrend is too strong. Besides, this pair is a bit annoying because sometimes it will retrace to take your SL then eventually left you behind.
      yes GN is a very volatile pair, it can spike over 100 pips just from no where so it should be traded with care, but it can also give us huge profit, all we gotta do is pick entry at the right time.


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