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    Thread: bidyut's - Trading journal

    1. #1 Collapse Post
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      Default bidyut's - Trading journal

      Introduction: This is my first trading journal in mt5 forum and it is in a demo account. I致e opened a demo account with 500 USD balance. The main purpose of opening this demo account is only for making a trading journal in mt5 forum. Long time back our respected moderator dzin4aans had encouraged me to open a trading journal. But due to some unforeseen reasons I was unable to give attention in this regard. After looking at many trading journals available in this section I致e got some positive energy and a lot of good motivation to open my own trading journal. Now I think it is the right time to open a trading journal.

      Main motive of opening a trading journal: First of all I want to improve my trading by sharing my own trading system. By opening a trading journal here I would definitely get an opportunity to interact with other good traders. They can suggest, guide me for opting a better trading system. This is one of the best ways to engage myself in improving my existing trading strategy.

      Why Demo Account: This is my first trading journal in mt5 forum. Still I consider myself as a leraner and I want to improve my trading and it is only possible through demo account. Second reason is that I want to open a separate account (real trading account) for trding journal. But at this moment I知 not fully prepared myself (financially) to open a real account for this purpose. In other hand I don稚 want to wait for long to start a trading journal. So my main motive here would be to engage myself in a good discussion where we can share knowledge and learn everything which is required to be a good trader.
      In future I would definitely go for a trading journal where I can show real profit in real account. Once I get ready for that I would definitely inform you all through this journal or through my signature.

      My strategy:

      Support & Resistance: From the very beginning I am trying to trade on support and resistance levels. So my main focus would be to see support and resistance levels of a particular pair on a daily basis before opening any order. I値l try to open orders by looking at support and resistance levels. Most probably my buy orders would be above support levels and sell would be below resistance. In addition I値l try to take decisions of opening any order by looking at price action.

      Price Action: It is important to watch in which direction a particular pair is moving where we池e going to trade. In simple words Price action gives us an idea where the price is moving. When I see 3 to 4 candles formed an upward trend in other words when few bull candles form an uptrend I値l go for a buy order. In opposite if I see few bear candles lined up in a row to form a downward trend, I値l go for sell order. So here I would go for trading on any pair by following price action.

      Chart Type: I would like to trade in a clearly visible chart and I consider candle stick chart as a best option for me. I do not use too much indicators. It値l consists of only support and resistance levels.
      Time Frame: I prefer to see 1 hr, 4 hours, daily time frames to decide where the price is moving or to predict the actual trend I will go for these time frames. To open any order or to check entry point I値l go for only 1 hour chart.

      News Events: As we know fundamental or economical news are very important to watch while taking any trading decisions. I値l keep an eye on day to day news events to trade. The best way to watch any types of news events is through economic calendar. Most of the movements take place in any particular pair due to news releases. Even technical trader can稚 ignore the importance of fundamental news or any economic data releases (e.g. NFP) etc. Sometimes I would stop trading during high impact news. In other words I値l be very careful during news events and try to avoid trading in case there are no clear movements.

      Lot Size: I would go for 0.10 LOT size (per order) at the very beginning. I may go for many orders at a time but not more than 1 LOT in total. For example, 10 orders with 0.10 lot size orders. Sometimes I may go for averaging my trades by taking additional lot size orders. Gradually I will try to increase the lot size orders with growing account balance.

      Target: Anywhere from 10 to 100 pips. I can decide only after looking at the levels. Sometimes I may not give any target and close all orders manually.

      Stop Loss: I値l try to put a stop loss in some trading positions but not in all trading positions. Again it値l depend on the levels and also in the movement of a particular pair. In case I put stop loss in any pair it値l be around 50 pips.

      Long term or short term: My goal would be to take profit from every trade in a short term period. I prefer short term trades because it is easy for me to handle. In case I see slow movements in any trade I値l keep the order for long hours and definitely wait for the price to trigger the target ( if I put TP).

      Trading Pairs: I would like to trade on major pairs (EURUSD, GBPUSD etc.). Also I would go for high volatility pairs for example, GBPNZD, GBPJPY etc. Sometimes I will try to trade in Gold and Silver if I get good confirmation.

      Risk-Reward Factor: As it is not a contest account I値l try to go slowly. I believe in steady growth and not in sudden growth as far as forex trading is concerned. I would only go for 5% to 10% risk, and not more than that. Similarly, I値l try to make decent profit from every trade. If I see it is worth to wait for a particular trading position then I値l wait for it to get more profit out of it. For any trader to sustain in the market is more important than anything else, so I will try to avoid any unnecessary risk. Sometimes I would go for cut losses in the form of stop loss or by closing manually. Once we learn how to manage risk we値l automatically able to grow our trading account to a satisfactory level.

      To my fellow members: I hope there is no doubt about my trading plan. I do not want to complecate things, so I値l try to elaborate every trade with clarity. I知 ready to answer you if you致e any questions regarding my trades or anything related to my trading journal. I値l be grateful if we can stick to the topic and not talk about anything off topic in this section. Your good suggestions are always welcome. Thanks to everybody for visiting here. Lets start together!


    2. #2631 Collapse Post
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      Quote Originally Posted by bidyut     
      New Update: Hello everybody hope all of you're doing well in your trades. As I've mentioned about my active running trades in my previous post. I had 3 running active positions, out of which two are in positive pips. Unfortunately I had lost AUDNZD buy order. Today in early trading hours the price has hit stop loss level and I've lost about -$4.16 in total including minimal swap. You can see the screen shot below to see the result of that particular order.

      Attachment 116075

      On the other hand EURUSD sell position is giving me almost 30 to 35 positive pips. The second running order is EURCHF sell order, it is also in 7 positive pips. I'm holding both positions and I hope both position would touch the take profit level. Both positions are giving me almost $11.42. At a time the positions showed $15 in positive amount. Anyways, EURCHF is retraced a little but I hope the price would fall again because the overall trend is still bearish.

      You can look at the current status of EURUSD and EURCHF positions.

      Attachment 116077

      The current chart of EURUSD (4 Hours Chart)

      Attachment 116078

      The current chart of EURCHF (4 Hours Chart)

      Attachment 116079

      I've closely watched both pairs as I've two running orders. I've seen that both pairs are ready to go down. It might be showing some slow movement but I'm sure the price would able to go towards down. EURUSD has shown some good number of positive pips. EURCHF has also shown good bearish mode. But the price has retraced back to hit key resistance. Now the price is trying to pull back towards down. I'm expecting that both pairs would go into southward direction as daily chart is very much showing bearish slope.
      Well dear and congrats for getting profit from both trades eurusd is trying to pulling back and hopefully hit the last resistance stage and both pairs are in bearish movement and both pair will go more downward in daily chart frame.


    3. The following 2 users say Thank You to latif2forex for this useful post.

      bidyut (05-24-2019), MrPips (05-21-2019)

    4. #2632 Collapse Post
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      Quote Originally Posted by bidyut     
      New Update: Hello everybody hope all of you're doing well in your trades. As I've mentioned about my active running trades in my previous post. I had 3 running active positions, out of which two are in positive pips. Unfortunately I had lost AUDNZD buy order. Today in early trading hours the price has hit stop loss level and I've lost about -$4.16 in total including minimal swap. You can see the screen shot below to see the result of that particular order.

      Attachment 116075

      On the other hand EURUSD sell position is giving me almost 30 to 35 positive pips. The second running order is EURCHF sell order, it is also in 7 positive pips. I'm holding both positions and I hope both position would touch the take profit level. Both positions are giving me almost $11.42. At a time the positions showed $15 in positive amount. Anyways, EURCHF is retraced a little but I hope the price would fall again because the overall trend is still bearish.

      You can look at the current status of EURUSD and EURCHF positions.

      Attachment 116077

      The current chart of EURUSD (4 Hours Chart)

      Attachment 116078

      The current chart of EURCHF (4 Hours Chart)

      Attachment 116079

      I've closely watched both pairs as I've two running orders. I've seen that both pairs are ready to go down. It might be showing some slow movement but I'm sure the price would able to go towards down. EURUSD has shown some good number of positive pips. EURCHF has also shown good bearish mode. But the price has retraced back to hit key resistance. Now the price is trying to pull back towards down. I'm expecting that both pairs would go into southward direction as daily chart is very much showing bearish slope.
      Dear when we check the pivot point of the market then we find the market resistance and support level that are market major check points then market check the point and give us signal so you need to work in this market with any trading strategy in your chart i check that you are working with pivot point and got the resistance and support level that are you traded so you need to enter and exit according to your indicator then you got the profit because when market take retracment then you take small profit and take a side on indicator you will take small profit.


    5. The Following User Says Thank You to MrPips For This Useful Post:

      bidyut (05-24-2019)

    6. #2633 Collapse Post
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      Quote Originally Posted by bidyut     
      New Update: Hello everybody hope all of you're doing well in your trades. As I've mentioned about my active running trades in my previous post. I had 3 running active positions, out of which two are in positive pips. Unfortunately I had lost AUDNZD buy order. Today in early trading hours the price has hit stop loss level and I've lost about -$4.16 in total including minimal swap. You can see the screen shot below to see the result of that particular order.

      Attachment 116075

      On the other hand EURUSD sell position is giving me almost 30 to 35 positive pips. The second running order is EURCHF sell order, it is also in 7 positive pips. I'm holding both positions and I hope both position would touch the take profit level. Both positions are giving me almost $11.42. At a time the positions showed $15 in positive amount. Anyways, EURCHF is retraced a little but I hope the price would fall again because the overall trend is still bearish.

      You can look at the current status of EURUSD and EURCHF positions.

      Attachment 116077

      The current chart of EURUSD (4 Hours Chart)

      Attachment 116078

      The current chart of EURCHF (4 Hours Chart)

      Attachment 116079

      I've closely watched both pairs as I've two running orders. I've seen that both pairs are ready to go down. It might be showing some slow movement but I'm sure the price would able to go towards down. EURUSD has shown some good number of positive pips. EURCHF has also shown good bearish mode. But the price has retraced back to hit key resistance. Now the price is trying to pull back towards down. I'm expecting that both pairs would go into southward direction as daily chart is very much showing bearish slope.
      EUR/USD is doing well on the down side of the market though there was a kind of up and down in price movement today, technically i am sure it will go deeper come tomorrow since no barrier has been met by price as at today


    7. The Following User Says Thank You to maximum For This Useful Post:

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    8. #2634 Collapse Post
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      Quote Originally Posted by sonibark     
      This is for sure brother, whatever goes up will surely comes down, but of we all know for Certain when it will comes down them most of will be rich by now, we can only predict the market and somehow this seems very difficult to do so correctly no matter the kind of strategy we may have, we Cannot always be right and this is why we all loose.
      Ye forex moves is up and down,oscillating. The onlyvthing is that We can't exactly know the time it will happen .Forex is not 100% accurate but we can still make it by having patience ,is matter of patience So let wait what goes up comes down.


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      Saeedkhattk (09-02-2019)

    10. #2635 Collapse Post
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      Quote Originally Posted by bidyut     
      Good day to everyone of you. I'm glad to receive so much encouraging messages from all of you. My last order was on GBPUSD pair and I had a sell order. I've already posted about the order in details in my last post. I'm happy to say that I've closed the deal with 30 pips profit. Actually I could wait for more positive pips but I had decided to close the order with whatever I've got at that time. I didn't want to lose the opportunity to book some profit. We've seen massive downfall in the pair and I've got a lot of opportunity to sell the order. But I've not take any action in most times and only in few occasions I've tried to sell it. The reason behind avoiding sell order in most occasions is my protective nature. I've tried to sell GBPUSD only few times and at a time when I see clear confirmed market condition.

      Yesterday I didn't open any order because I was much careful about not to take any extra risk during or after news events. So I've tried to avoid trading yesterday and next week I'll try to look for good opportunity. In past I've experienced that when we make good profit we become more confident and at the end we fail to sustain. So this time I try to control my emotions during trading. I've tried to skip trading because it helps me to avoid any unnecessary trades.

      In past I've tried to trade in almost all the pairs. More likely I have more inclined in EURUSD pair. But this time I've tried to stick with GBPUSD pair. Sometimes it is very difficult to read the actual trend in GBPUSD. But with regular practice we can get a clear picture of this particular pair. If we look at all the pairs then we'll find similar one sided trend. I could make profit in doing trades in other pairs too. But it was easy for me to trade in GBPUSD, due to its volatile nature and much pips movement in a small span of time. This week is memorable for most of us because we've seen such a heavy downfall in the pair. I hope in future too we'll get similar opportunities to trade.

      I want to clarify that I'm not that good at analyzing GBPUSD pair. Still I get confused in most of the time to analyze the pair properly. Even I've got some good profit from the pair I do not consider myself as a perfect trader. Despite of coming down so sharply I've only able to make few positive pips from the pair. Which confirms that I'm still in the learning phase and I may able to do well in future if I spend more time in GBPUSD pair trading. I just try to say if somebody is not able to make profit from GBPUSD then he/she should join InstaForex contest and practice there. In past I've lost a lot in doing GBPUSD pair trading. I can say it is one of the most volatile pair compare to other major pairs.

      I've closed the last order in 30 pips profit. Look at the image below.

      Attachment 77217



      Your observation was right and we've seen the downward move. Yeah I've tried to open order after getting some retracement. Actually here patience is very much needed. It is better to miss the opportunity rather than to enter into wrong level. Technical and fundamental both helped the pair to come down massively without any stop. I think next week too we may see some downward move from the pair. But at this moment I don't want to say anything which is not necessary at this moment to say. Only after opening the market we'll able to see in which direction the price would move. Now the price is standing in a level where we can't do anything. Only after waiting for some clear signal we can take further action.



      Nice to see your observation on this particular pair. This week we've seen so much bearish nature of the pair. GBPUSD has already came down to a lower level now it'll be interesting to see how far it'll move from current level. Actually any immediate reversal is also not easy or possible. So here we've to wait more time to get some clear confirmed signals. This week we've seen some similar move on a day to day basis. In long term chart the pair is still in a bearish mode. I hope you'll able to show us some fresh analysis on this pair.



      Hi sonibark, it is okay to miss any opportunity. I've also missed a lot of opportunity during massive fall of the pair. So it is a part of our forex trading profession. We've to avoid any types of greed in our trades then only we'll able to take proper opportunity for our trades. Even we miss one opportunity or more opportunity, it won't effect much. Because we can't take every opportunity from the market. Yeah somebody may think of buying the pair when it get some retracement. In such situation a trader may fail to sustain at the end. In forex market buyers and sellers are equally active in most times, so we may see small ups and downs in any pair. We should try to trade on strong trends and to find a strong trend we can look at long time frame charts. At the same time we should try to check the levels. We can't open sell orders at support levels so it is also important for us to look at support and resistance levels.



      If we enter in correct level then we can definitely get good profit from the market. It is also important to exit at correct level because it is very important to keep our account safe from any floating losses. Most of the time traders do not want to close the orders at correct level and at the end they failed to book profit. We can however leave our position open for long hours or days if we see strong trend. At that situation too we've to get ready to close our deals when we see opposite movements. We can't expect one way movements all the time. Only for last few two to three weeks we've seen some good one way move in GBPUSD pair. So we should try to trade according to the market situation. You've well suggested here, we can split our lot size into two or more. I too think it is an effective way to tackle with any bad situation during our trades.



      I'm glad to know your opinion loveyo bro. Yeah I was little lucky to enter into correct level. Actually GBPUSD has given us so many opportunity to enter and I've tried only few times. I've made this trading journal only to share my analysis and to learn from all of you. I'm happy to get so much encouraging words from all of you. I'll try to put my best in elaborating things to others. I'll be happier person if my analysis and personal views will help somebody. I'll definitely try to update my trading journal regularly. Once again glad to have your best wishes.

      Forex market is full of surprises and we've to trade carefully all the time. We may not see similar movements or we may not get similar opportunities all the time. So here we've to learn from the market. One of the most important thing is to trade safely. Sometimes we get trapped in a very bad market condition. At that time we must try to get exited from such bad trading situation only then we'll able to progress. Here overconfident is very harmful. We shouldn't risk our trading account with big lot size orders. I've learned that even we take small profit from the market we can build it as good equity. So better to trade in good opportunities. I hope everybody is enjoying their time this weekend. Have a great weekend to all of you.

      https://forum.mt5.com/showthread.php...1#post13398254


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      Quote Originally Posted by Oriakhiebillz     
      Having an account of 2,000 dollars then I no big risk opening trade with 1 lot size so long you know how to trade and understand how the market works. When one has a small account size like $100 and and taking a risk of 1 lot size per pip then he won't be able to trade well, his mind won't be at rest whether he is profiting or losing and this can make him close a trade that he was suppose to gain more pips due to fear. Taking high risk on a small account doesn't pay on the long run in forex trading.
      https://forum.mt5.com/showthread.php...1#post13404033


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      Hello everyone how are you all I hope you all will be making profit from the new week beginning.market is not getting any direction due to us China trade war scenario.in this situation mostly trader are doing short term trades book their profit and get out of market.due to which a consolidation period create in most of pair.
      In this situation I have also open some positions on eurusd & and gbpusd .I would like to share them with members
      Attached Images  


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      Quote Originally Posted by bidyut     
      Good day to everyone of you. I'm glad to receive so much encouraging messages from all of you. My last order was on GBPUSD pair and I had a sell order. I've already posted about the order in details in my last post. I'm happy to say that I've closed the deal with 30 pips profit. Actually I could wait for more positive pips but I had decided to close the order with whatever I've got at that time. I didn't want to lose the opportunity to book some profit. We've seen massive downfall in the pair and I've got a lot of opportunity to sell the order. But I've not take any action in most times and only in few occasions I've tried to sell it. The reason behind avoiding sell order in most occasions is my protective nature. I've tried to sell GBPUSD only few times and at a time when I see clear confirmed market condition.

      Yesterday I didn't open any order because I was much careful about not to take any extra risk during or after news events. So I've tried to avoid trading yesterday and next week I'll try to look for good opportunity. In past I've experienced that when we make good profit we become more confident and at the end we fail to sustain. So this time I try to control my emotions during trading. I've tried to skip trading because it helps me to avoid any unnecessary trades.

      In past I've tried to trade in almost all the pairs. More likely I have more inclined in EURUSD pair. But this time I've tried to stick with GBPUSD pair. Sometimes it is very difficult to read the actual trend in GBPUSD. But with regular practice we can get a clear picture of this particular pair. If we look at all the pairs then we'll find similar one sided trend. I could make profit in doing trades in other pairs too. But it was easy for me to trade in GBPUSD, due to its volatile nature and much pips movement in a small span of time. This week is memorable for most of us because we've seen such a heavy downfall in the pair. I hope in future too we'll get similar opportunities to trade.

      I want to clarify that I'm not that good at analyzing GBPUSD pair. Still I get confused in most of the time to analyze the pair properly. Even I've got some good profit from the pair I do not consider myself as a perfect trader. Despite of coming down so sharply I've only able to make few positive pips from the pair. Which confirms that I'm still in the learning phase and I may able to do well in future if I spend more time in GBPUSD pair trading. I just try to say if somebody is not able to make profit from GBPUSD then he/she should join InstaForex contest and practice there. In past I've lost a lot in doing GBPUSD pair trading. I can say it is one of the most volatile pair compare to other major pairs.

      I've closed the last order in 30 pips profit. Look at the image below.

      Attachment 77217



      Your observation was right and we've seen the downward move. Yeah I've tried to open order after getting some retracement. Actually here patience is very much needed. It is better to miss the opportunity rather than to enter into wrong level. Technical and fundamental both helped the pair to come down massively without any stop. I think next week too we may see some downward move from the pair. But at this moment I don't want to say anything which is not necessary at this moment to say. Only after opening the market we'll able to see in which direction the price would move. Now the price is standing in a level where we can't do anything. Only after waiting for some clear signal we can take further action.



      Nice to see your observation on this particular pair. This week we've seen so much bearish nature of the pair. GBPUSD has already came down to a lower level now it'll be interesting to see how far it'll move from current level. Actually any immediate reversal is also not easy or possible. So here we've to wait more time to get some clear confirmed signals. This week we've seen some similar move on a day to day basis. In long term chart the pair is still in a bearish mode. I hope you'll able to show us some fresh analysis on this pair.



      Hi sonibark, it is okay to miss any opportunity. I've also missed a lot of opportunity during massive fall of the pair. So it is a part of our forex trading profession. We've to avoid any types of greed in our trades then only we'll able to take proper opportunity for our trades. Even we miss one opportunity or more opportunity, it won't effect much. Because we can't take every opportunity from the market. Yeah somebody may think of buying the pair when it get some retracement. In such situation a trader may fail to sustain at the end. In forex market buyers and sellers are equally active in most times, so we may see small ups and downs in any pair. We should try to trade on strong trends and to find a strong trend we can look at long time frame charts. At the same time we should try to check the levels. We can't open sell orders at support levels so it is also important for us to look at support and resistance levels.



      If we enter in correct level then we can definitely get good profit from the market. It is also important to exit at correct level because it is very important to keep our account safe from any floating losses. Most of the time traders do not want to close the orders at correct level and at the end they failed to book profit. We can however leave our position open for long hours or days if we see strong trend. At that situation too we've to get ready to close our deals when we see opposite movements. We can't expect one way movements all the time. Only for last few two to three weeks we've seen some good one way move in GBPUSD pair. So we should try to trade according to the market situation. You've well suggested here, we can split our lot size into two or more. I too think it is an effective way to tackle with any bad situation during our trades.



      I'm glad to know your opinion loveyo bro. Yeah I was little lucky to enter into correct level. Actually GBPUSD has given us so many opportunity to enter and I've tried only few times. I've made this trading journal only to share my analysis and to learn from all of you. I'm happy to get so much encouraging words from all of you. I'll try to put my best in elaborating things to others. I'll be happier person if my analysis and personal views will help somebody. I'll definitely try to update my trading journal regularly. Once again glad to have your best wishes.

      Forex market is full of surprises and we've to trade carefully all the time. We may not see similar movements or we may not get similar opportunities all the time. So here we've to learn from the market. One of the most important thing is to trade safely. Sometimes we get trapped in a very bad market condition. At that time we must try to get exited from such bad trading situation only then we'll able to progress. Here overconfident is very harmful. We shouldn't risk our trading account with big lot size orders. I've learned that even we take small profit from the market we can build it as good equity. So better to trade in good opportunities. I hope everybody is enjoying their time this weekend. Have a great weekend to all of you.
      Very nice post and sure it will be a good learning for all of us who are following this plateform. Best of luck.


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      Hy friends i hope you are fine.nice thoughts you put on.
      Having an account of 2000 dollers then i no big risk opening the trade with a 1 lot size so long you know how to trade and understand how the markit works.
      When anyone has a small account like 80 dollers and taking a risk of 1 lot size per pip then he want to be able to trade very well.his mind won,t beat rest whether he is performing the trade.taking high risk on small account does,nt pay on the long run on forex trading.always trade with money management.thanks


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      Quote Originally Posted by bidyut     
      Good day to everyone of you. I'm glad to receive so much encouraging messages from all of you. My last order was on GBPUSD pair and I had a sell order. I've already posted about the order in details in my last post. I'm happy to say that I've closed the deal with 30 pips profit. Actually I could wait for more positive pips but I had decided to close the order with whatever I've got at that time. I didn't want to lose the opportunity to book some profit. We've seen massive downfall in the pair and I've got a lot of opportunity to sell the order. But I've not take any action in most times and only in few occasions I've tried to sell it. The reason behind avoiding sell order in most occasions is my protective nature. I've tried to sell GBPUSD only few times and at a time when I see clear confirmed market condition.

      Yesterday I didn't open any order because I was much careful about not to take any extra risk during or after news events. So I've tried to avoid trading yesterday and next week I'll try to look for good opportunity. In past I've experienced that when we make good profit we become more confident and at the end we fail to sustain. So this time I try to control my emotions during trading. I've tried to skip trading because it helps me to avoid any unnecessary trades.

      In past I've tried to trade in almost all the pairs. More likely I have more inclined in EURUSD pair. But this time I've tried to stick with GBPUSD pair. Sometimes it is very difficult to read the actual trend in GBPUSD. But with regular practice we can get a clear picture of this particular pair. If we look at all the pairs then we'll find similar one sided trend. I could make profit in doing trades in other pairs too. But it was easy for me to trade in GBPUSD, due to its volatile nature and much pips movement in a small span of time. This week is memorable for most of us because we've seen such a heavy downfall in the pair. I hope in future too we'll get similar opportunities to trade.

      I want to clarify that I'm not that good at analyzing GBPUSD pair. Still I get confused in most of the time to analyze the pair properly. Even I've got some good profit from the pair I do not consider myself as a perfect trader. Despite of coming down so sharply I've only able to make few positive pips from the pair. Which confirms that I'm still in the learning phase and I may able to do well in future if I spend more time in GBPUSD pair trading. I just try to say if somebody is not able to make profit from GBPUSD then he/she should join InstaForex contest and practice there. In past I've lost a lot in doing GBPUSD pair trading. I can say it is one of the most volatile pair compare to other major pairs.

      I've closed the last order in 30 pips profit. Look at the image below.

      Attachment 77217



      Your observation was right and we've seen the downward move. Yeah I've tried to open order after getting some retracement. Actually here patience is very much needed. It is better to miss the opportunity rather than to enter into wrong level. Technical and fundamental both helped the pair to come down massively without any stop. I think next week too we may see some downward move from the pair. But at this moment I don't want to say anything which is not necessary at this moment to say. Only after opening the market we'll able to see in which direction the price would move. Now the price is standing in a level where we can't do anything. Only after waiting for some clear signal we can take further action.



      Nice to see your observation on this particular pair. This week we've seen so much bearish nature of the pair. GBPUSD has already came down to a lower level now it'll be interesting to see how far it'll move from current level. Actually any immediate reversal is also not easy or possible. So here we've to wait more time to get some clear confirmed signals. This week we've seen some similar move on a day to day basis. In long term chart the pair is still in a bearish mode. I hope you'll able to show us some fresh analysis on this pair.



      Hi sonibark, it is okay to miss any opportunity. I've also missed a lot of opportunity during massive fall of the pair. So it is a part of our forex trading profession. We've to avoid any types of greed in our trades then only we'll able to take proper opportunity for our trades. Even we miss one opportunity or more opportunity, it won't effect much. Because we can't take every opportunity from the market. Yeah somebody may think of buying the pair when it get some retracement. In such situation a trader may fail to sustain at the end. In forex market buyers and sellers are equally active in most times, so we may see small ups and downs in any pair. We should try to trade on strong trends and to find a strong trend we can look at long time frame charts. At the same time we should try to check the levels. We can't open sell orders at support levels so it is also important for us to look at support and resistance levels.



      If we enter in correct level then we can definitely get good profit from the market. It is also important to exit at correct level because it is very important to keep our account safe from any floating losses. Most of the time traders do not want to close the orders at correct level and at the end they failed to book profit. We can however leave our position open for long hours or days if we see strong trend. At that situation too we've to get ready to close our deals when we see opposite movements. We can't expect one way movements all the time. Only for last few two to three weeks we've seen some good one way move in GBPUSD pair. So we should try to trade according to the market situation. You've well suggested here, we can split our lot size into two or more. I too think it is an effective way to tackle with any bad situation during our trades.



      I'm glad to know your opinion loveyo bro. Yeah I was little lucky to enter into correct level. Actually GBPUSD has given us so many opportunity to enter and I've tried only few times. I've made this trading journal only to share my analysis and to learn from all of you. I'm happy to get so much encouraging words from all of you. I'll try to put my best in elaborating things to others. I'll be happier person if my analysis and personal views will help somebody. I'll definitely try to update my trading journal regularly. Once again glad to have your best wishes.

      Forex market is full of surprises and we've to trade carefully all the time. We may not see similar movements or we may not get similar opportunities all the time. So here we've to learn from the market. One of the most important thing is to trade safely. Sometimes we get trapped in a very bad market condition. At that time we must try to get exited from such bad trading situation only then we'll able to progress. Here overconfident is very harmful. We shouldn't risk our trading account with big lot size orders. I've learned that even we take small profit from the market we can build it as good equity. So better to trade in good opportunities. I hope everybody is enjoying their time this weekend. Have a great weekend to all of you.
      hi mt5 member. I see your post and very glad to know your opinion about GBPUSD. Its gives us so many oppertunities . your opinion is correct.It is right that we gets mall profits first then take risk for big trading and take good profits.we must watch market level then invest . I wish all the members of trade to enjoy the week with all efforts. have a good week.


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