MartyFish's - Trading journal

[patrech]

Well said we need to use demo account when we will have some analysis of market signals doing practice on selecting currency pair. makes news ideas then try this on live account market moving price action will makes a trader confuse we will be use our sharp mind to earn some good profit.

price action is profitable strategy. first we can practice and learning in demo to apply this strategy. we all knew that knowledge is the reasons to know something and understand to do a right thing , and if traders have a good will to make enough this part, and so they have good point to grow better than the past, they will push themselves to keep learning and practicing, there are many way to get them, and we just need to invest the time to read and learn them seriously, seriousness is very needed by us from the beginning which will give us plus understanding from what have been read and learned

[Kalex]

price action is profitable strategy. first we can practice and learning in demo to apply this strategy. we all knew that knowledge is the reasons to know something and understand to do a right thing , and if traders have a good will to make enough this part, and so they have good point to grow better than the past, they will push themselves to keep learning and practicing, there are many way to get them, and we just need to invest the time to read and learn them seriously, seriousness is very needed by us from the beginning which will give us plus understanding from what have been read and learned

yes price action strategy is the best one ,just we have to be aware about high impact news because that can give you the real key of the unknown treasure from the market as the trend may be clear with that ,its all about the practice and experience.

[catfish007]

yes price action strategy is the best one ,just we have to be aware about high impact news because that can give you the real key of the unknown treasure from the market as the trend may be clear with that ,its all about the practice and experience.

If the news is coming, then none of what traders know about the matter will matter, the news will take charge at that time. This is why we have to be watchful of the news trading along with the way we know how to trade the market with. Forex traders should never do trading with the careless mood, we all have to make sure that we trade with protective skills. But if you are a price action traders that is a technical analysis, you do not have to be afraid of the news, just make sure that your precise action analysis correct, and make sure you trade only high time frame with it.

[penuelophir]

If the news is coming, then none of what traders know about the matter will matter, the news will take charge at that time.

In fact, the news could change the main market trends without prior notice to the forex trader and that is why it is very vital to always check on the upcoming news because it is not wise for it to get you unawares and even make you lose money when you would have prevented it.

[PhantomTrader79]

Yes, that's the frustrating part for me.

GBP pairs are moving a lot and yet I am not able to capture their moves and missed many moves last week and had just caught one good move of 100+ pips, rest all I missed due to confusion & yesterday I caught a 180+ pips movement on GN but the sad part was that, I was testing & took that move in a demo account & got a whopping 180+ pips in just 2-3 hours.. regretted of not trading in the real account would have got an easy 5% gain.

It's no doubt that GBP pairs are moving more actively than ever since the beginning of 2018 , though most of GBP pairs are trending but GN is having some random fun up & down..

See the moves of last 5 days on GN:-

1st day = down 200 pips.
2nd day = further down 250 pips (total 450 pips down in 2 days).
3rd day = sudden 270 pips reversal to upside.
4th day = further up 290 pips (total 560 pips up in 2 days).
5th day = bang down 380 pips.



What the Hell was GN, doing here?

Surely needs to test these 5 days to find out what & which moves were tradable & what moves were random & needed to avoid. It's surely a unique condition, so need to gain some experience out of it & should know how to trade in such conditions & how to gain from it without getting burn, will add much in my trading experience book.

Attachment 74191

Indeed mate, it's crazy those moves lolz
But that is one of the reasons why I love GBP pairs they move fast, can go multiple times a day and when they move they don't look back.

100 pips is a good catch so don't fret about the missed trades mate. There will come more of them in this coming trading week or even after as long as we're ready for it. They say luck can come anytime to but luck comes more often to those who are ready.

[Oghale]

The subject of news is not what we can discuss exhaustively because there are different ways the market will behave in case there happens to be an announcement, sometimes those that are very good in analyzing the fundamental can tell you that this is what will likely happen and they may be right, other times, it can take a greater chance for what they have analyzed to even happen, gn response to news that relates to NZD Usd, and we need to know when we can expect a positive correlation from the news or a negative one, it depends on the parameters that goes with the release.

[sonibark]

@ MartyFish, this used to happen sometimes, we will be seeing the pairs moving massively and wouldn't be able to pick out one, maybe due to nervousness or lack of self believe in our techniques, and you could see that when you decide to pick out a trade on demo it goes in your favor, assuming you trade in live account, but you shouldn't bit yourself up over this, there will be more opportunities

[simisola]

We cannot always anticipate that we can catch all the moves in the market, in an attempt to do that, we might hurt our account in the process, this pairs that you have chosen to trade are highly volatile meaning they are bound to exhibit such behaviour most times and the pip value movement can be huge, I trade GN only when I get a super signal that I know will hardly fail, but Earnestly that does not happen frequently, the rate this pair moves swiftly can be really scary. I don't bother chasing price that has already left the park.

[ehizmac]

@ MartyFish, this used to happen sometimes, we will be seeing the pairs moving massively and wouldn't be able to pick out one, maybe due to nervousness or lack of self believe in our techniques, and you could see that when you decide to pick out a trade on demo it goes in your favor, assuming you trade in live account, but you shouldn't bit yourself up over this, there will be more opportunities

That is where discipline comes into play because we have to learn to trust our system even if we don't feel like it because our fears cost us alot in the market, am beginning to see forex trading is a very different dimensions and thus starts from our money management policy because here lies our key to been successful.

[catfish007]

We cannot always anticipate that we can catch all the moves in the market, in an attempt to do that, we might hurt our account in the process, this pairs that you have chosen to trade are highly volatile meaning they are bound to exhibit such behaviour most times and the pip value movement can be huge, I trade GN only when I get a super signal that I know will hardly fail, but Earnestly that does not happen frequently, the rate this pair moves swiftly can be really scary. I don't bother chasing price that has already left the park.

It is never possible that we catch all the moves in the market, and when we are in profits no matter how little it is, we have to be appreciative, so that we will not be trading under aggression next times. Forex trading is so interesting when the trader have the skills to trade. The traders who have an interesting trading career will make sure that he is working with the perfect trading strategy and have the management with that strategy he is using too. This is the only way that i know that pressure will not be on the trader, and we can all trade and earn well.