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    Page 24 of 57 FirstFirst ... 19 22 23 24 25 26 29 ... LastLast
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    Thread: mikehenley's trading journal

    1. #231
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      Quote Originally Posted by mikehenley View Post
      Maybe my expectation in this forum that some of you may have earn a lot already, but your compliment is highly appreciated,
      I will take note of this Starting small and finishing the race big time, "Trading is a MARATHON not a SPRINT"..
      Its your thought that what other members will say! but always try to listen to yourself and decide whether you have to run for 100 meter or full marathon. Here, race is not for making money but trade consistantly and make persistant profits. When you start, you are small initially but it is the hard and smart work which will take you to upside. Ultimately time will come when you will show your trades to us as your successful story.

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    2. The following 4 users say Thank You to nikhil_rrane for this useful post.

      mikehenley (02-23-2018), Obie (02-23-2018), Unregistered (2)

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    4. #232
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      This is great.I appreciate this and whatever strategy that one may have in place the ability to stick to the trading plan is quite essential not neglecting having a good journal where all the plans are stated systematically and at last bearing in mind that patience is golden ( a great virtue)

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    5. #233
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      Quote Originally Posted by PhantomTrader79 View Post
      No need to worry about that mate.
      Many of us here blew our bonus account several times already and then we learn how to identify our weakness and then try to learn to then improve ourselves.
      Like I said in other thread... accumulate your profit and at the same time don't trade recklessly. Before you even realize it you'll be earning a lot of profit from your bonus account. I just mentioned in other thread that I saw someone having nearly $4,000 in bonus account... it took him more than 2 years to accumulate that, trading patiently and carefully and he now earned anywhere between $400 to $600 per month trading conservatively.
      I am very much motivated now, a very inspiring story, appreciate a lot of advise from this forum,
      All are noted and will apply on my trading journey and will work it out to be next success story you can open to others.
      My Trading Journal: Journey of a Sniper Trader

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    6. #234
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      Maybe my expectation in this forum that some of you may have earn a lot already, but your compliment is highly appreciated,
      I will take note of this Starting small and finishing the race big time, "Trading is a MARATHON not a SPRINT"..
      yes, trading is ,like a marathon and not 100 meter relaay which can be finish in less than 30second, so this is why we need to take it easy in the maret and see it as a sport where sometimes you will loose and sometimes you win, but what gives success will depend on how consistent we are in the area of making good profit, and if we can be consistent enough we will definitely wont have much problem, and we will be a happy trader

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    7. #235
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      Quote Originally Posted by NikitaBelle View Post
      Don't be shy showing us your small profits bro because am also doing cent trading and my profits is very small too, but small profits is way much better than big lose and blown accounts, right? The best thing is you started good, you are willing to earn small so that one day you can earn big. That is the real goal! Start small and finish the race big time one day!
      Your words are golden, @Nikita Belle. Sometimes, it is not the size of the profits that matter. The more important consideration is the amount of risk taken to generate that profit. It is better to take a small risk and generate small profit than to take a big risk and generate bigger (but less than proportionate) profit.

      Quote Originally Posted by mikehenley;
      Maybe my expectation in this forum that some of you may have earn a lot already, but your compliment is highly appreciated,
      I will take note of this Starting small and finishing the race big time, "Trading is a MARATHON not a SPRINT"..
      Yeah, @mikehenley, trading is like a marathon - except that we don't really know the distance to be covered or even the route to be taken to get to the finishing line. It's a complex marathon!

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    8. #236
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      Hi mates, have great next week ahead,
      Below are my plan trades, good luck for us,

      AUDUSD,
      Trend = I am still UP Trend for this week
      Level = Currently sitting from previous october 1st week support at 0.7790 which failed to break by the 23-Feb Daily Close candle "encircled with blue"
      Confluence = An Inside bar are form, but as a sniper trader, I will wait another daily close candle and observe if it will break the 22-Feb Candle.
      But for aggressive trader, we can put or open a position with the current market price then just place a stop loss below the wick of the 22-Feb Candle,
      We can put TP target at 0.7980, or depends on your Risk Reward.

      Additional confluence is that it will possible repeat the history or the previous price highlighted or encircled with different colors corresponding to each history,
      Hope you get my point.

      This is how I appreciate the Price Action,


      ---------- Post added at 05:22 PM ---------- Previous post was at 05:13 PM ----------

      XAUUSD

      Trend = Still UP Trend for me,
      Level = Currently sitting at at 1325.83 and failed to break the previous candle, a possible short term buying opportunity on the current market price with the target at 1344 level,
      Confluence = I've seen at the 4hr chart forming an inverse head and shoulder pattern, it will be invalid once another 4hr candle breaks the 1325 level

      My Trading Journal: Journey of a Sniper Trader

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    9. The following 3 users say Thank You to mikehenley for this useful post.

      forexianz (02-26-2018), Unregistered (2)

    10. #237
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      I just checked my audusd chart on daily and it looks bullish for now but I think the buyers will have a more fun filled day, but checking in other smaller time frame there are saying overbought but let's check how well the market can hold, but according to my trading system am holding USDJPY buy based on one hour time frame.

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    11. The Following User Says Thank You to ehizmac For This Useful Post:

      forexianz (02-26-2018)

    12. #238
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      Quote Originally Posted by mikehenley View Post
      Hi to the community,

      I would like to share also my journey on achieving success through the forex world,
      I am glad that I have started my journal and share also what I have learn over the months of Trading..

      Basically I am a PRICE ACTION Trader with no indicator involves, just a bare clean price action chart.
      I do apply a Sniper Trading Approach and Highly Respect the 50% Retracement Levels, Price Action Bars and the Head and Shoulder Patterns.

      Still Newbie here and need lot more to learn,
      But through this journal, It will help me monitor my progress,

      This are my rules of trading that I have develop and will continue to practice to make it consistently profitable:

      "ON ANALYZING THE CHART"
      ANALYZE USING DAILY CHART TIME FRAME ONLY
      DRAW MAJOR SUPPORT AND RESISTANCE LEVEL "DAILY, WEEKLY OR MONTHLY"
      OBSERVE THE TREND AND CHECK THE PRICE ACTION, "HH,HL;LH,LL"
      ZOOM IN AND ZOOM OUT TO VIEW THE OVERALL TREND
      CHECK THE CONDITION OF THE BARS
      ALWAYS CHECK THE POSSIBLE HEAD AND SHOULDER SIGNAL OR OTHER PRICE PATTERNS
      IF YOU CAN'T TELL WHAT IS HAPPENING ON THE CHARTS QUICKLY, IT IS USUALLY BETTER TO STAND ASIDE UNTIL YOU CAN SEE A CLEAR SIGNAL FORMATION

      "ON ENTERING TRADE"
      LOOK FOR THE "VALUE AREA" - BY LOOKING FOR THE PRICE TO RETRACE ON THE SUPPORT OR RESISTANCE LEVEL
      "REMEMBER THAT PRICE WILL ALWAYS RETRACE ON A SIGNIFICANT OR KEY SUPPORT AND RESISTANCE LEVEL"
      CHECK THE 1HR OR 4H CHART FOR POSSIBLE ENTRY AND WATCH IT CLOSELY
      ENTER ONLY IF THE CANDLE ARE ALREADY CLOSED (EITHER FROM 1HR, 4HR OR DAILY)
      "DO NOT EVER CHASE THE MARKET AFTER MISSING A TRADE, INSTEAD WAIT FOR THE 2ND CHANCE ENTRY"



      "ON SETTING STOP LOSS, TAKE PROFIT TARGETS"
      PLACE THE STOP LOSS ABOVE OR BELOW THE WICKED OF THE PREVIOUS "DAILY CANDLE"
      "CHECK IF THERE IS A NEAREST SUPPORT OR RESISTANCE BEFORE SETTING STOP LOSS"


      PLACE THE TAKE PROFIT ON NEAREST DAILY SUPPORT AND RESISTANCE LEVEL
      " NEAREST SUPPORT AND RESISTANCE LEVEL CAN BE USED AS THE TAKE PROFIT TARGET"
      " SET THE TAKE PROFIT BASE FROM RISK:REWARD RATIO"


      "ON EXITING TRADE"
      LET THE MARKET STOP THE TRADE
      LET THE MARKET HIT THE STOP LOSS
      EXIT MANUALLY BECAUSE THE PRICE ACTION FORMS A SIGNAL AGAINST THE POSITION
      EXIT A TRADE WHEN ALREADY HAVE A RESPECTABLE PROFIT, RATHER THAN WAITING FOR THE MARKET TURNS AROUND AND COME CRASHING
      TAKE PROFIT, DO NOT WORRY FOR NOT CATCHING THE WHOLE MOVE AND DON'T REGRET IT, THERE WILL ALWAYS BE AN OPPORTUNITY
      AVOID EXITING OUT OF FEAR
      "CUT BAD TRADES AS SOON AS POSSIBLE", "IF YOU FEEL NOT CONFIDENT ON OPEN POSITION, BETTER TO CUT LOSS EARLY"
      REMEMBER TO PROTECT THE CAPITAL AT ALL COST, THERE WILL ALWAYS BE AN OPPORTUNITY

      I know some of you also adopt the Price Action and Clean Chart for analysis,
      I would appreciate if i could hear some feedback from the veterans,

      I know I have a lot of work to do to profit consistently, but mark this day as the journey of sniper trader started..

      I will start to post my snipe trade and those that I've been watching on later...

      "ALWAYS REMEMBER THAT PATIENCE IS A VIRTUE"
      Hello mate. It is nice to see you in this section. I hope that you can always make green profits in your trading. Well, you have wrote a meaningful quotes. I hope that you can always follow your trading plan. Well, let's be happy in this business and enjoy as much as we can. Anyway, can you share your money management to us?.

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    13. #239
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      Mikehenley, I must tell you as a new trader if you can continue learning and trading plain chart without indicators, within the shortest time you are going to be a thorough professional. Clean chart is the best way to start trading forex because past market data are the decision makers in the market so it is better to have adequate knowledge and skill for analyzing them before bringing in external elements like indicators

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    14. #240
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      Quote Originally Posted by forexianz View Post
      Hello mate. It is nice to see you in this section. I hope that you can always make green profits in your trading. Well, you have wrote a meaningful quotes. I hope that you can always follow your trading plan. Well, let's be happy in this business and enjoy as much as we can. Anyway, can you share your money management to us?.
      @forexianz, hi mate, good question, I am now developing my own trading money management, I will later share my initial summary and put some examples for ease of understanding..I will try to put also on the 1st page of this journal, just wait mate..
      My Trading Journal: Journey of a Sniper Trader

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