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    Thread: zahidmehmood‎'s trading journal

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    1. #1
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      Hi fellow traders, my name is Zahid Mehmood and I am from Pakistan, I have been trading demo for 9 months. I am still demo trading because I am still learning, I donít have enough experience and also I am broke, I have no money to trade with. Thatís why I joined this community of traders so that I can not only share my limited knowledge to others but also I can gain more knowledge from experienced traders as well and by doing this I can earn bonus as well.

      So for the first 6 months, I was micro scalping on m1 and m5 chart, I was still good at it but there were two huge problems in micro scalping, first my risk to reward ratio was horrible and secondly I did not have a clue about overall trend, so I was trading against the trend and trust me this is not good at all for any trader.

      So I changed my approach towards the market and for the last three months, I have been trading higher time frames and spot setups on Daily, H4, H1 and M30 time frames but I always make an entry on M5 or M15 time frames which gives me great risk to reward ratio such as on Daily and H4 for swing trades with risk to reward ratio of 1:5 to 1:10 and H1 and M30 for intraday trades with risk to reward ratio of 1:2 to 1:3. So because I enter on M5 or M15 time frames, my stop loss is always around 15-20 pips.

      Now Iíll tell you guys shortly about my strategy, my primary setup for taking a trade is divergence and I use RSI (default settings) indicator although we can use Stochastic or MACD as well, but I like to take trades after multiple confirmations and for that I also take into consideration trend lines, TDI known as Trade Dynamic Index (combination of RSI and Bollinger Bands), and sometimes ABCD patterns as well. I know that mostly folks donít pay attention to divergence but believe me it is very powerful and profitable method.

      We should all have a realistic monthly goal in our minds and that is around 400-500 pips per month because big hedge fund companies and even banks have a target of 400-500 pips. Itís the quality that matters not the quantity.

      Iíll post my analysis so I am looking forward to improve my trading skills by learning from you guys as well and if you guys want me to explain Divergence strategy and its types in detail then please do tell me, Iíll edit and explain it in depth in my this post.

      Regards


    2. #2
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      Welcome to the trading journal section mate, I'm sure you won't regret your decision to join this amazing section.

      Daily and H4 for swing trades with risk to reward ratio of 1:5 to 1:10
      This is interesting, since a trend on a daily chart last weeks and months, getting a reward of 10x relative to the risk would necessitate holding a trade for long periods. How long is your average holding period?

      I know that mostly folks donít pay attention to divergence but believe me it is very powerful and profitable method.
      It depends. I studied divergences excessively in the past, but gave up since my performance did not change much compared to trading without them. But they are indeed good confirmation tools.

      We should all have a realistic monthly goal in our minds and that is around 400-500 pips per month because big hedge fund companies and even banks have a target of 400-500 pips.
      What risk do you intend to take per pip? I gather your trade risk will be based on pip valuations rather than fixed risk percentage.


      Iíll post my analysis so I am looking forward to improve my trading skills by learning from you guys
      This is really a great place to post your views and discuss your thought processes with other forum members. Good luck on your trading


    3. The following 6 users say Thank You to zarra for this useful post.

      Asad Rafiq (03-18-2018), ilyas_ili (11-20-2017), MartyFish (11-22-2017), Unregistered (2), zahidmehmood (11-21-2017)

    4. #3
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      This is interesting, since a trend on a daily chart last weeks and months, getting a reward of 10x relative to the risk would necessitate holding a trade for long periods. How long is your average holding period?
      on daily TF, on highly volatile pairs such as GbpJpy, GbpNzd, EurNzd, the trade can last for 3-5 days but for slow pairs, it can last between 1-2 weeks, so that is my average holding period.


      What risk do you intend to take per pip? I gather your trade risk will be based on pip valuations rather than fixed risk percentage.
      My stop loss is always 15-20 pips because I always take entries on M5 or M15 so that can give me high risk to reward ratio so yes my risk is based on pip valuation.

      ---------- Post added at 06:03 PM ---------- Previous post was at 04:54 PM ----------

      ---------- Post added at 06:10 PM ---------- Previous post was at 06:03 PM ----------

      Sorry guys I don't know I copy and paste the picture url of my EurNzd analysis in insert image but its not uploaded, anyways I am copy pasting the direct links here.
      EurNzd Daily TF (Regular Bearish Divergence)
      https://postimg.org/image/qu81ei39h

      EurNzd M5 TF (Regular Divergence)
      https://postimg.org/image/l7boh10qt
      Last edited by zahidmehmood; 11-20-2017 at 07:08 PM.


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

      MartyFish (11-22-2017), NikitaBelle (11-21-2017), shahidmehmopd (03-16-2018), union12 (12-23-2017), Unregistered (2)

    6. #4
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      Sorry guys I don't know I copy and paste the picture url of my EurNzd analysis in insert image but its not uploaded, anyways I am copy pasting the direct links here.
      EurNzd Daily TF (Regular Bearish Divergence)
      https://postimg.org/image/qu81ei39h

      EurNzd M5 TF (Regular Divergence)
      https://postimg.org/image/l7boh10qt
      My EurNzd analysis is still going great, currently running in +130 pips but I am expecting 350 pips drop at least because this is a daily setup and it may run for one week, therefor patience is the key to success. Here is the latest picture.

      https://postimg.org/image/5l7e0d5vp

      ---------- Post added at 02:04 PM ---------- Previous post was at 01:51 PM ----------

      AUD has spend a lot of time in a downtrend doing "nothing" lately, so I too believe that this was the best set-up today with some room. The only reason I am selling it is, because it is a manipulated currency from the RBA and every move will hit a rock up.
      thanks bro for sharing your views about AU, I'll surely learn from more experienced traders, however it is difficult for AU to break the weekly support but anything can happen in this wild market, all we can do as retail traders is to have good risk to reward ratio and take these type of opportunities.

      ---------- Post added at 03:25 PM ---------- Previous post was at 02:04 PM ----------

      Guys I also found a very nice bearish setup on EurAud, if we look at its Daily TF, it is nicely holding a channel and on H1 TF, we can see that it has formed already bearish divergence and also formed Head & Shoulder Pattern and we can see that clearly it has broken its neck line, so there is a 300 pips drop expected, I have posted both the pictures.

      https://postimg.org/image/7xy80asxx

      https://postimg.org/image/wtrnnsflx


    7. #5
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      Guys I also found a very nice bearish setup on EurAud, if we look at its Daily TF, it is nicely holding a channel and on H1 TF, we can see that it has formed already bearish divergence and also formed Head & Shoulder Pattern and we can see that clearly it has broken its neck line, so there is a 300 pips drop expected, I have posted both the pictures.

      https://postimg.org/image/7xy80asxx

      https://postimg.org/image/wtrnnsflx
      yesterday I posted this analysis on EurAud Daily TF and today I found good entry on H1 TF, on H1 market formed hidden bearish divergence and also its in a channel and on M5 it also formed regular bearish divergence, so I took the trade with stop loss of 20 pips.
      Attached Images      


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    9. #6
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      Quote Originally Posted by zahidmehmood View Post
      yesterday I posted this analysis on EurAud Daily TF and today I found good entry on H1 TF, on H1 market formed hidden bearish divergence and also its in a channel and on M5 it also formed regular bearish divergence, so I took the trade with stop loss of 20 pips.
      few days ago I placed EurAud sell trade, which went for maximum +50 pips but then it went up and my stop loss hit on break even, I am uploading its current chart but I still do believe that it is bearish but I'll keep an aye on this pair as well.
      Attached Images  


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      simisola (11-24-2017)

    11. #7
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      On Friday, I spotted a setup on EURNZD Daiily TF, it formed regular bearish divergence on Daily and also it is holding a nice daily channel as well, so as I said earlier I take entries on M5 or M15 TFs so in this case I found entry on M5, on m5 it was also forming regular bearish divergence so it gave me a chance to enter the market with 20 pips stop loss and my target will be around 350 pips because it is a daily TF setup, currently it is running in +100 pips and now my stop loss is on break even. So even if it hits my stop loss, I'll still enter in it again after few days because it has to fall.

      I am attaching 2 pictures, first is the daily TF setup and the second is the M5 TF setup as known as entry setup.




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    13. #8
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      Quote Originally Posted by zahidmehmood View Post
      On Friday, I spotted a setup on EURNZD Daiily TF, it formed regular bearish divergence on Daily and also it is holding a nice daily channel as well, so as I said earlier I take entries on M5 or M15 TFs so in this case I found entry on M5, on m5 it was also forming regular bearish divergence so it gave me a chance to enter the market with 20 pips stop loss and my target will be around 350 pips because it is a daily TF setup, currently it is running in +100 pips and now my stop loss is on break even. So even if it hits my stop loss, I'll still enter in it again after few days because it has to fall.

      I am attaching 2 pictures, first is the daily TF setup and the second is the M5 TF setup as known as entry setup.



      I closed EurNzd trade with +60 pips profit although it went for maximum +170 pips and when it broke the trend line I should have closed it but instead I let this trade run, I guess that was a stupid mistake, that is where experience come to play which clearly I don't have but I'll try to learn from my mistakes.
      Attached Images  


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      Quote Originally Posted by zahidmehmood View Post
      I closed EurNzd trade with +60 pips profit although it went for maximum +170 pips and when it broke the trend line I should have closed it but instead I let this trade run, I guess that was a stupid mistake, that is where experience come to play which clearly I don't have but I'll try to learn from my mistakes.
      It is not a stupid mistake mate, to help you with such challenges, when you enter a trade, see how you can lock in some profit as soon as price moves to a large distance, when the retracement starts, you are sure of what you already made, try this in your subsequent trades.


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      Hello bro Zahid! Welcome to this trading journal section. It is nice to see more people sharing their way of trading in this section. I do believe you can reach your target. Just keep practicing in demo account. Once you get your bonus money, trade with care okay?.


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