Imranshahbaz Trading journal

[Imranshahbaz]

My take on the Concept of support and resistance
If I simply define support as the thing that prevents the price from falling like if a price is falling down and then reverse the trend and start moving high it is called support and on the other hand's resistance is the thing that prevents the price from rising.
the following picture simply showing the support and resistance in a very understanding way

importance of support and resistance

When price breaks through a level of support or resistance, it frequently moves on to the next level of support or resistance. Support and resistance levels are not always exact; they are typically a zone that covers a small range of prices, allowing them to be breached, or pierced, without actually breaking. As a consequence, support/resistance levels assist in identifying potential price pivot points.

Share your views that this post was helpful? and also your view about this concept

[Imranshahbaz]

Indeed, mistakes or losing trades are considered one of the most important things that make a trader mature in his way of trading so that whenever he loses a certain deal, his instinct pushes him to think about the cause of this loss, which makes him aware of his mistakes and works to correct them, in fact losing trades are considered the best teacher for the trader And that is because every losing trade refers specifically to the mistake that the trader commits, which he must work to correct to avoid many trades that may be challenged for the same reason.

that's very true Mistakes are the best lesson to learn with every mistake you make you learn a new lesson losing trade will push you to rethink your strategy and the points that you ignore while taking a trade. if you lose a trade then stop take a rest, rethink and make a new strategy and then come again with whole new confidence . Accept Responsibility for Your Losses. Accepting the responsibility for your own losses is the first step of the path of loss recovery. If You Keep Losing, Don't Keep Trading Without a Stop Loss it will lower the risk of your losing the whole money
remember that life greatest lesson is learnt at the worst time and from the worst mistakes

if you find this post interesting don't forget to leave like.thankyou

[Imranshahbaz]

in the above post, I discuss the topic of support and resistance to continue it further now I will be discussing the nest part of it that is minor support vs minor resistance
Major vs. Minor Resistance/Support
Minor resistance or support slows rising or falling prices within a larger market trend, while major resistance or support completely prevents either rising or falling prices, and the larger market trend shifts in the opposite direction. Minor price resistance/support is an artificial horizontal line that represents a region that was formerly used as price support or resistance but is now used as minor price resistance/support.this is the simplest way for me to explain in my words
have a great day all

[Imranshahbaz]

to learn and understand the trading concept is not an overnight process you need to do it solely and consistently. 1st of all try to understand the very basic things like how to use insta forex or mt4 properly 2nd step is an analysis of the market and use of indicators to read a chart properly in order to take a trade I will say that you should choose 2 or 3 pairs to try to absorb them completely. and last but not least don't lose hope have faith and confidence in yourself even if you are not doing well at the start but you will gradually make it better and will get the desire results. thankyou

[Imranshahbaz]

most people start trading without any experience. And that's okay. Because there's always something to start with, but it was correctly written that you just have to get ready to work and work hard enough, because there are a lot of subtleties and details that need to be considered, as in any other business.
You have to understand the market not only in theory but also in practice. This is very important because you have to not only read the news but also interpret it so that you can find the most advantageous positions, so that you can earn permanently, not occasionally. The main thing is to act in stages and not to risk large sums of money at once, but you can still lose everything and quickly enough.
but once you started trading then definitely you need to learn it by all means

[Imranshahbaz]

How to control greed while taking a trade?
the best way to control greed is to set a goal for every trade. what I mean is that whenever you are going to take a trade set a limit of your profit and loss when your target is to achieve take the exit from that trade and be thankful for what you have earned. We all want more from life. It is this ambition that motivates you to trade and achieve your objectives.
So being greedy for more is a good thing and a typical human trait. Excessive greed, on the other hand, should be avoided. You'll be slaughtered in the Forex market if you do that.
one should always have a risk management plan. Know how much you're willing to risk per trade as well as how much profit you expect to make.
When you set the dangerous rules, your thoughts and emotions have no power over you. Since the market does whatever it wants, make it a routine to trade with a stop loss.
It is quite unpredictable, in that, just a single minute can change direction and can cost you too much if you hadn’t set any stop loss.
always start with a low trade size. Start learning how to pick the best size for your trades if you want to benefit from trading.
A larger size will result in significant losses or even bankrupt your account. Smaller sizes, on the other hand, do not help you expand your account.
If you are new to the market, however, the small size should be sufficient for you to trade.
so don't be greedy you just need consistency and then gradually you will earn big.
if you agree with me then don't forget to leave a like

[Imranshahbaz]

Forex is not an overnight get-rich scheme.
No doubt forex now a day is one of the most profitable businesses out there but it is a 2-way sword it can make you rich but on another hand, it can also make you bankrupt.
Trading forex is a skill that needs Patience to master.
This is an area where skilled traders can and do make money. Success, like any other profession or job, does not happen overnight.
Forex trading isn't for the faint of heart (as some people would like you to believe).
Consider this: if it were, anyone who traded would be a millionaire by now. Also, successful traders who have years of experience lose money on a regular basis.
Make a mental note of this: there are no shortcuts in forex trading. To master, you'll need a lot of Training and Expertise.
There is no replacement for dedication, hard work, and careful practice. Practice trading on a DEMO ACCOUNT before you find a strategy you understand completely and can critically execute. Simply put, find a method that works for you!!!
yes if you master it and gain expertise in this field then no one can stop you from becoming rich.

---------- Post added at 06:09 PM ---------- Previous post was at 05:48 PM ----------

Forex is not an overnight get-rich scheme.
No doubt forex now a day is one of the most profitable businesses out there but it is a 2-way sword it can make you rich but on another hand, it can also make you bankrupt.
Trading forex is a skill that needs Patience to master.
This is an area where skilled traders can and do make money. Success, like any other profession or job, does not happen overnight.
Forex trading isn't for the faint of heart (as some people would like you to believe).
Consider this: if it were, anyone who traded would be a millionaire by now. Also, successful traders who have years of experience lose money on a regular basis.
Make a mental note of this: there are no shortcuts in forex trading. To master, you'll need a lot of Training and Expertise.
There is no replacement for dedication, hard work, and careful practice. Practice trading on a DEMO ACCOUNT before you find a strategy you understand completely and can critically execute. Simply put, find a method that works for you!!!
yes if you master it and gain expertise in this field then no one can stop you from becoming rich.

[Imranshahbaz]

How to earn from home interesting and useful topic . I think earning from home nowadays is not as much difficult as compared to past . During this digital era and world of technology everything is running on internet online. As we saw in corona days that it’s very clear that we are living in digital world where everything is possible from home . People are running their big business online. This is one thing
2nd thing is that freelancing is very popular where people’s are offering their services online and earning a handful amount online.
Other thing is that many forums are offering good bonus for doing some work for them one of the example is mt5 forum.
In nutshell if you have a skill and in touch to technology u can earn from home these days there are so many opportunities out there
Hope you agree with my arguments. If yes gives a thumbs up

[Imranshahbaz]

Welcome again my friends in the Arab Forex Forum

Your opinion matters to me. I have no idea about a forex robot. I trade manually, but many people love forex robots, what do you think, which is the best forex robot or manual trading

I am not sure which one is better but the matter of fact is that Automated trading has progressively become a possibility. Manual Forex trading began to lose importance as machines became quicker.
Automated trading now accounts for more than 80% of all orders.
Furthermore, the percentage is increasing day by day. Does this imply that manual Forex trading will be phased out? Or that in the financial markets, the human touch would be lost?
Unlikely! The human touch will always be present since the trading bots are programmed by humans. Automated trading is used by all traders. And those who aren't aware of it participate.
Have you ever put a pending order, for example? That is automatic trading if it was filled.
this is just my opinion I am not sure either my thoughts are right or wrong but one thing is conformed robots are replacing humans at a very high pace.

[Imranshahbaz]

following are some important points that an investor should be good at.
Begin with a strategy.
I agree that putting together a financial plan will help you achieve investment success. The financial planning process will assist you in taking stock of your situation, defining your objectives, and determining realistic measures to achieve those objectives. Financial preparation does not have to be difficult or costly. You can do it yourself 
Be a saver
Although it's tempting to get swept up in the market's ups and downs, it's also vital to know how much of your income you're saving for the future. When it comes to achieving long-term financial goals, saving early and often can be a strong force.
stick with your plan
Regardless of the uncertainty, stick to your strategy.
When the value of your assets plummets, it's only rational to seek refuge. The best investors, on the other hand, may not. Instead, they keep a portfolio of stocks that they can live within both good and bad markets.

While investing can be difficult, some of the most critical behaviors of effective investors are fairly straightforward. You would have embraced some of the main characteristics that may contribute to success if you create a smart plan and stick to it, save enough, make wise investment decisions, and are mindful of taxes.

[Imranshahbaz]

benefits of forex
hello everyone . my dear friend you have precisely described some of the benefits and negatives of forex markets which are pretty much obvious. I want to add some of the others hope you will like it . number one is It's a five-day 24-hour market. Since the forex market is global, trade is almost always ongoing.2nd there is high liquidity in the forex market means that huge volumes of money can be transferred in and out of currencies with relatively small spreads. 3rd the transaction costs are very low which makes it more attractive
another one is that you can use leverage. Forex brokers also encourage traders to buy and sell in the market with considerable leverage, allowing them to trade with far more capital than they currently have in their accounts.
you can also get benefits from both falling and rising of prices so there is no restriction of direction and personally that's my favorite.
have a great day all!

[Imranshahbaz]

I have observed money management is a most sounding topic in Forex trading. I think it means we should have enough trading capital so that we can use it in a better way to make good profits. What's your opinion?

Money Management
Management of money Forex is a set of rules that will help you increase your earnings, decrease your losses, and expand your trading account. While the advantages of these approaches are obvious, newcomers to Forex trading often overlook even basic money management rules and end up blowing their accounts. For new traders, analyzing the market and deciding whether to go long or short can be difficult enough, so I completely understand if thinking about money and risk management seems tedious at first.

[Imranshahbaz]

Reasonable stop loss approach

A reasonable stop-loss approach involves setting your stop-loss at a level that, if hit, will alert you to the fact that you were mistaken about the market's direction. You are unlikely to have the good fortune of perfectly timing all of your trades. Even though you want it to, the price of a stock doesn't always rise immediately after you buy it. As a result, before you buy, give the trade some room to move before it begins to rise.
Rather than just attempting to avoid any loss, a stop-loss is used to exit a position if the price falls so far that you have clearly misjudged the market's trend.

When short selling, place your stop-loss above a recent price bar high as a general rule. Like stop-loss orders for buys, the price bar you choose to place your stop-loss above will vary by strategy, but this gives you a rational stop-loss location because the price fell off that high. Going at charts for a swing high or low is akin to looking for a swing high or low.


so always considered stop loss while taking a trade in order to prevent yourself from great losses.

[Imranshahbaz]

How to avoid yourself from these pyramids and Ponzi schemes

Before handing over your money, make sure you know who you're dealing with and that you understand any investment. If anyone contacts you about investment without your permission, proceed with caution. If anything doesn't seem right, report it to the authorities and let them determine whether it's legal or not.

here are few things make sure you clear them before making an investment
Be a rationalist
If anyone tries to sell you on an investment that offers big and/or instant returns with little to no risk, it's likely to be a scam.
Unsolicited Offers Should Be Avoided
Unexpected communication, such as an invitation to an investment seminar, is typically a red flag. Scams involving investments often target the elderly, as well as those nearing or in retirement.
Take a look at the dealer
The Financial Industry Regulatory Authority's (FINRA) BrokerCheck will help you locate a broker, financial advisor, brokerage company, or investment advisor firm. Check to see if the practitioner is accredited and if there are any derogatory details about them.
Ensure that the investment is properly registered.
According to the Securities and Exchange Commission, Ponzi schemes often include unregistered investments (SEC). Begin by inquiring about the individual who is making the investment.

[Imranshahbaz]

Some words for newbies
I would like to say that As a beginner first you get a proper knowledge of forex for this purpose no doubt this forum is a wonderful plate form you can get a-lot of helpful information and wide amount of knowledge. Before making a trade make sure that you have done a proper technical and fundamental analysis of the pair and follow the trend . Access the take profit and stope loss and set the both valves before taking the trade .take profit should be double the value of stop loss.
Start with small lots and when you get the confidence go for bigger one . Don’t fall for greed and be happy for what you get
These are some of the words from my side hope you will get some benefits from these. Rest is your luck and for that best of luck

[Imranshahbaz]

a very absolute and important strategy and you explain in a well precise way dear mate I want to add some of my understanding of hedging here hope it will help the readers to better understand .
Hedging
Hedging is better understood by imagining it as a type of insurance. When people want to hedge, they are shielding themselves from the financial effects of a negative event. This does not guarantee that all negative incidents do not occur. However, if a negative event happens and you've correctly hedged your bets, the effect of the event is mitigated.

Hedging Has Its Drawbacks
Any hedging strategy comes with a price tag. But, before you decide to use hedging, consider whether the possible benefits outweigh the cost. Remember that the purpose of hedging is to protect against losses, not to make money. It's impossible to avoid the risk of hedging, whether it's the cost of an option or missed gains from being on the wrong side of a futures contract. Although comparing hedging to insurance is appealing, insurance is much more accurate. You are fully covered for your loss if you have insurance (usually minus a deductible). Portfolio hedging isn't an exact science.
In a nutshell
Hedging is a risk management technique that involves taking an opposite role in a similar asset to offset investment losses.
Hedging usually results in a decrease in future earnings due to the reduction in risk it provides.
Securities, such as options and futures contracts, are widely used in hedging strategies.
thanks for reading this post hope you will get benefits

[Imranshahbaz]

It’s impossible to trade or invest and not find yourself in a losing position. That’s just the way things are. And a large trading loss can be devastating — not only financially, but emotionally.
As defeating as losses feel, how you react to a big loss is more important than the loss itself. Inexperienced traders suffering a large loss can become hijacked by their emotions. Some may try to trade through the pain, often creating more turmoil for themselves. Some may withdraw from the market, to avoid thinking about it. Others may try to “trade-in revenge,” determined to recover the losses. None of these reactions are constructive.
Attachment 354825
In fact, they can be destructive if you don’t learn how to handle losing trades. Whether it was an obvious minus in your strategy, a lack of discipline, or any other reason, nearly every trader will face a big loss (or several) in their career. After a losing streak or big loss, you may begin to question yourself, which leads to the typical problems many new traders have, like getting out of trades too quickly, holding
on to them too long, skipping trades with the fear of losing, or getting into more trades than you should in an attempt to get some winning trades. One major difference between successful traders and failed ones is how they handle trading losses. Successful traders treat losses as an opportunity to learn and improve their trading.
Coming back from a large loss is challenging, but success is never accomplished by ignoring trading losses. Losses — especially substantial ones — can be opportunities to become a more skillful trader.

Here are some rules successful traders take after a loss to become emotionally stronger and more disciplined:

1.
Never let a bad day cost you more than you make on an average win day knowing how to lose properly is a must in a long and prosperous trading career.
If you average, let’s say, $200 on your winning days, don't lose much more than that on a bad day. Control the downside. Knowing how to minimize risk is the most important aspect of trading.
There are really only 4 possible outcomes to a trade or investment: A big win, a small win, a small loss, or a big loss. As long as we ELIMINATE the big loss from our trading days, we can live comfortable
with the other three.
Risk Management is the primary cause for a successful or unsuccessful trading experience. Sound risk management can yield a steady increase in profits, while poor risk management can wipe out an account in a very short period. If you follow the 1% risk per trade rule, a precise stop loss level presets that 1%value and you’d know beforehand the amount you risk losing should your trade turn negatively. And this goes hand in hand with the second rule.

2.
Know the stop-loss level before you ever get into the trade stop-loss is a simple tool, yet so many traders and investors fail to use it. Whether to prevent excessive losses or to lock in profits, nearly all trading styles can benefit from this trade. Think of a stop-loss as an insurance policy: You hope you never have to use it, but it's good to know you have the protection should you need it. So, always use a stop loss and know its location before you ever get into the trade.
Also, never widen your stop losses when the market moves in negative territory. Know that regardless of what happens, there is another trade around the corner. If your trading strategy relies on the success of one single trade, it’s a very bad trading strategy. Remember that trading success is the accumulation of many successfully, managed, both winning trades and losing trades.
Attachment 354826
3.
Don’t involve in revenge trading A big loss causes all sorts of inner conflict—the need for revenge, fear, anger, frustration, self-hate, market-hate, and the list goes on. After a big loss, there's no way to trade with a clear head. There are more than 250 trading days in a year, so there is no rush to get back in there. If you do so, you basically revenge trading. Rather than looking to your strategy and make sensible decisions around the incident, you jump straight back in. This is dangerous for your account for two main reasons.
First, it forces you to throw your trading discipline out the window. It shifts your focus from your trading process to trying to make enough money to recover your losses trading based on emotions and luck is not trading. It’s gambling.
It’s also a lose-lose situation. If you lose a revenge trade, you increase your losses even more with a trade that you had barely planned for. If you win, then you believe that trading on guts and emotion works and you’re going to do it again. so don't do it
I will share more of the strategies how to avoid trapping yourself in losses and also strategies for successful trades. thanks for reading

this post is the continuation of the last one that is quoted above .so I shared some of the strategies to deal with loss and how to control this situation in the future so here are some more points check them out
1.
Accept responsibility If you suffered a large loss; be sure to own it.
Don’t brush it aside, hide from it, or blame the “smart money” for your loss. There is always an excuse for a losing trade, but as traders and investors, we must accept the risks. Until we accept that we are responsible for whatever happens with our orders, the same thing will happen again.
Accept responsibility and figure out what could have been done differently. This will help reduce the chance of it occurring again. It is also healthier than blaming other factors for your mistakes.
Blaming others is admitting you don't control your own trading, and if that is the case, you shouldn’t be trading at all. If you control your trading and investing, then you can fix it.
And is always something that can be done. It may involve changing markets, changing your strategy, or your trading style. If you find that scalping the 1-min chart brings you a lot of losses, try swing trading.
The solution is there; you just need to find it.

2.
Stop trading for a while Sometimes, it’s better to take a break to figure out what went wrong. Do those things so that you can get back to a better mindset in which you can refocus.
After that, assess what happened by reviewing events carefully. Think about where you fell short.
For example, did you take too much risk? Was the trade well-planned? Were you mentally sharp, or did you hold a losing trade hoping to avoid a loss?
Taking a break from trading is one of the hardest things to do, but it’s a smart move. Wait for the conditions to improve. Preserve your cash, save your sanity and focus on other things. When the conditions improve, so will your results. Remember: the market will not disappear tomorrow. Nothing terrible will happen, on the contrary – during this time away from charts you
will likely come up with new, better ideas on how to improve your trading.

3.
Trade lower position sizes After a big loss, confidence can below. Not having a clear mind can cause you to skip trades, panic out of trades, or be overly-aggressive. None of these are good.
Take a step back and trade in a demo account for a few days. Because it's not real money, there is also less pressure in a demo account, so it is easier to focus on trading, and not worry about the financial aspect of it. A few winning days in the demo account will raise your confidence levels and put you in better mental space to take on the markets again with real money. So after a losing streak, start small; don't jump right back to the same position size you were trading before. In the first days back, trade small position sizes. A winning day with a small position size will help build confidence, and you can slightly increase your position size as the account balance goes up.
If you have a losing day, losing on small position sizes is easier to handle than another losing day on full position sizes. Even if you win a few days in a row, increase your position size incrementally, so it takes
about a while to get back to your full position size. I know that after you have traded bigger position sizes, it's annoying to start back with a
small position size, but it's for the best. Bouncing back from a losing streak is about getting back to basics and implementing a strategy well, not actually about making money. Money comes from implementing a strategy well. Demo trading and trading small position sizes get you refocused on what's important, so you can start building your confidence again.

4.

Let Go of the Outcome and Embrace the Process Realize that trading is a continuous process of learning.
Most of the time, in trading (like in real life!), you learn more from your mistakes than from your victories. Losing money should motivate you to look closer at your actions, read more, better educated yourself, become more disciplined in your execution, and so on. Next time, you will have a better idea of what happened and where you went wrong and can open up room for improvement and start stacking the odds in your favor. As cliché as it sounds, putting your focus out of making money and into enjoying the process will keep you on the right track and more likely end up in profit.
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[Imranshahbaz]

As a forex trader, the most valuable thing you can invest in is time. Every trading day is an opportunity to learn something new, and if you don't keep learning, you'll never be a truly good trader.
Consider how long it would take you to master the fundamentals. Then think how much time it would take you to read charts, news stories, document your trades, and be in the markets as part of your everyday routine. 
other things are market analysis, News Releases, Market Prices, and Review the Charts

[Imranshahbaz]

This is something I can't stress sufficiently. Consistency and sweat are important in trading. Consider it a sport. You can't improve without practice. So each time you feel demotivated, try to rewire your mind as an athlete, and instead of just getting pissed off with the charts and hit the bar, breath, meditate and repeat. Repetition is important. Because each time you fail, you are improving.

[Imranshahbaz]

Technical indicators
very useful information. you are absolutely right that technical indicators are graphs that are determined using mathematical equations based on the data provided by price fluctuations, and they are used to monitor price movements, interpret them, and forecast future movement patterns. there are different indicators like RSI indicator, MACD indicator
, Parabolic SAR and Bollinger Bands indicator, etc .every indicator has its own value but I would like to say never rely on a single indicator always compare two or three indicators to take a trade and work well to understand these indicators.
Good luck All

[Imranshahbaz]

there is a famous saying that learns to earn. When working in the forex market, we should never begin our work with this mindset that we will start making the most money as soon as we enter. likewise, when we start a new job, we have to deal with a lot of challenges. After that a lot of hardships and spending our time in learning we get a good sense of that job. We have also suffered a great deal of damage during this learning period, but we are still making progress day by day.
the same theory applies to the forex market every day you learn a new thing from your trade and then eventually you become pro. so as I said earlier first learn then earn
good luck

[Imranshahbaz]

things you need to know before starting a trade.
1st thing 1st Your first goal should be to find a reputable broker. Before you find the best broker for you, there are a few things you can look into, Trading conditions, Minimum deposit requirement, Dedicated customer support, etc.
2nd thing you should work on is learning, Learn about Forex and how the markets work.
Understanding the fundamentals of Forex is one thing, but spotting demand opportunities is quite another. As a result, you can do your homework and study the markets you'll be trading.
last but not the least, Create a Test Account.
You can start placing real-time orders without losing your own money once you have a demo account.
thanks for giving your attention .best of luck

[Imranshahbaz]

Let's take a look at some trading advice that every trader should keep in mind before trading currency pairs.
Have a strategy and stick to it. Developing a trading strategy is an essential part of being a good trader. Your benefit targets, risk tolerance level, methodology, and assessment criteria should all be included. If you've created a strategy, double-check that each trade you're considering fits within the constraints of your strategy.
Practice. With a risk-free FOREX practise account, you can put your trading strategy to the test in real market conditions. You'll be able to experience what it's like to trade currency pairs while also putting your trading strategy to the test without risking any of your own money.
Know Your Limits.Know your boundaries. It's a basic concept, but it's crucial to your potential success. Knowing how much you're willing to gamble on each exchange, adjusting your leverage ratio to meet your needs, and never investing more than you can afford to lose are all examples of this.
good luck all

[Imranshahbaz]

It would be a misguided assessment of the Forex markets if only the benefits were considered, while the drawbacks were overlooked. so here are the some disadvantages
1.The forex industry is a global market. As a result, regulating the Forex market is a daunting task because it involves the sovereignty of many countries' currencies. As a result, the foreign exchange market is essentially unregulated. As a result, there is no centralized exchange that ensures risk-free trade execution.
2.Forex markets provide the greatest amount of leverage. Leverage implies risk, and a gearing ratio of 20 to 30 times implies a significant amount of risk! Given that the amount of movement that can occur in the Forex market in a single day has no limits, it is possible for a person to lose all of their money in a matter of minutes if they place highly leveraged bets. Novice investors are more likely to make such errors because they are unaware of the level of risk that leverage entails!
3.Operationally, forex trading activities are difficult to handle. This is due to the fact that the Forex market operates 24 hours a day, while humans do not! As a result, traders must rely on algorithms to safeguard the value of their assets when they are abroad. Multinational corporations, on the other hand, have trading desks all over the world. Therefore, if a person does not have the capital or the know-how to manage their positions when they are away, Forex markets could cause a significant loss of value on the nights or on weekends.