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technical analysis (8)

A New Forex Trader - "I'm Like a Dog Chasing Cars"
What would a dog do if it actually caught a car? Lets paws for thought for a few moments and then look into this a little deeper and gain some understanding of how this can perhaps be cured in a Forex Trader or avoided altogether. Forex Traders are naturally wired to chase moving objects like price action and attempt virtually every pip throughout the trading session. Mainly due to lack off knowledge, training, experience and patience which as we know, are absolutely necessary to trade the markets successfully. When a trader repeatedly…

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Technical Analysis Forex Trade EURUSD 1,370 Pip Long

Using Forex Chart Patterns and other Forexmospherian Trading Techniques like JBCB, CBA and FPA

Technical Analysis M5 latest Entry Descending Triangle Breakout Trade below

M15 Entry 11th Jan 2018 Descending Triangle Breakout Trade

Current D1 Breaks Bull Flag with MC and the chance to Long…

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Dead Cat Bounce in Forex Markets (Thats it)

Dead Cat Bounce.

A popular Forex trading term appropriate to many Financial instruments. This well known phrase is said to originate from Wall Street within the financial markets. The "dead cat bounce" means a brief and small recovery in the price action of a declining FX market. The basic idea is that even a dead cat will bounce if it falls from a great height. Also applied to Foreign Exchange  Markets where the currency pair encounters a brief resurgence during or following a severe decline. 
A good Forex strategy to counter the Dead Cat Bounce is MTFA.…
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The idea of Trading a single Forex Time Frame can be effective while analysing one chart but there are some alternatives which may reveal a more in-depth and thorough understanding of Forex market analysis for all currency pairs. A wider perspective can be gained from taking advantage of the different and wider angles involved. In essence, entering a Forex trade could be comparable to…

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A guy I knew a few years ago could ride a unicycle whilst juggling 6 oranges . He said it was easy - although he admitted he had been riding unicyles for many years from when he was a teenager.

I tried it in 2 stages - first of all trying to ride a unicycle - that was very difficult and although I did manage to stay on a few times - I could not even juggle 2 oranges at the same time - even though I could juggle 4 or more when I was just focusing and concentrating on just that part and not trying to unicycle.

I tried to do it many times over several weeks - but felt not confident after a few falls - so it beat me 

It reminds…

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At the Start of this Millennium, Currency Trading  / FX / Forex was been sold to potential newbie traders as one of the best ways to make your millions from just a small capital base and a few hours of work a week. We had all heard about all the money Hedge Fund and Bank Traders had been making during the 80's and 90's and now with the availability of the world wide web and access to the markets - it was time to get involved.

All you had to do was spend a few weeks or months learning how to trade - and of course it looks easy - just follow the news and work out whats happening on the charts and then buy and sell different currency pairs and then bank your profits - etc etc

If you were all ready employed and so only had a few hours a week to trade that would not matter as you could become a…

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We mentioned in part one about the Forex Market really being a "zero - sum" game - that's after the "trade" - ie Brokers / commercial agents etc have had their "spreads and commissions" off traders participating in the market place.

We also mention the "them and us" - IE commercial institutions / Banks / Governments / Hedge Funds etc - being them and us - being the "poor little relative" - ie the Retail Trader - working for ourselves and trying to make a profitable return from our Capital and our commitment from the amount of effort and time and study we do to try and be consistently profitable.

Now immediately can you all see the "conflict" here - Banks and Hedge Funds need to make large amounts of money simple down to the amount of capital and resources they invest in the currency market…

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Currency Trading is just really the largest "money game" on the Planet - played by loads of all different people and organisations around the World.

We have really 2 main sections - you could say "them and us" - with us being part of the retail section or community - ie individuals - not working for Banks or Hedge Funds, commercial organisations etc - but instead just for ourselves. "We" only account for approximately 5 to 8% of the total FX market  - whereas just 5 very large banks account for anything between 55 and 70%. 

That leaves something like 22 to 30+% of the market being made up of loads of commercial businesses and even governments etc - not just Hedge Funds or small Banks - but even car manufacturers and massive international global businesses who are trading in anything up to 200+ countries…

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Helpful Hints

Share a Trading Tip, Trick, Knowledge or Technique with the Community. Try to avoid just simply posting a link or video and saying this is great. Explain what makes it great or how this was useful. Sometimes things are simply entertaining but still useful and so explain in detail with diagrams, photos or charts. Descriptions with as many details are always interesting to read and so say what could be useful to know here. Community members are welcome to comment, ask questions or add to a post.

"Keep a Record of the Business or Currency Pair Traded. Reasons why the Trade was taken. When was the Exit. How and why the Trade turned out the way it did"

"It's my pleasure to be part of this forum, which is always different than other places & with a friendly environment. Glad to be in this team"

"Yes, the truth requires neither our belief nor understanding. However to harness truth and apply it for our benefit we must at a minimum allow that it is possible".

"We all know we will never be 100% Accurate with 100% win rate over 100's or 1000's of trades - but as long as your winning pips and money - add up to a lot more than your losing pips and money - then "Bingo" you are successful winning FX trader"

"I figured this was a legitimate break, so I went on the hunt for evidence, so here in succession is the list of clues I used to make my decision:

Rejection of market and weekly pivot at ema confluence.

Complete and broken head and shoulders on 1hr time frame.

Broadening formation on daily with test and rejection of 200 day ma

Bull hinge on daily and Renko stochastic.

Positive momentum on 5min, 1hr, 4hr and daily chart"

"Remember that all models are wrong; the practical question is how wrong do they have to be to not be useful" - George E. P. Box

"Sometimes You Win,

Sometimes you Learn".

"Forex Market analysis relies on two types of analysis much like Stock Markets:

Technical Forex Market Analysis views the data on a chart and considers that the News and Data is built into the Price already (economic, political, social, sentimental and psychological). Various tools and indicators will be used by technical traders, for instance MACD, Bollinger Bands, Moving Averages and more.

Fundamental Forex Market Analysis also uses indicators, for instance reports, Gross Domestic Production (GDP), Retail sales, Consumer spending, Industrial Production, Consumer Price Index, Commodities, Economic Calendars, Balance of Trade levels which could identify Trends between other Nations and more."

"Short rapid bursts and quick glimpses of an entry, trigger activated, trail in place and exit strategy and plan already set. Within a blink of an eye, instinctively the buy/sell button is pushed. The hammer falls and clanks decisively, echoing, sparking, like steel upon steel and the trade is executed. A Traders heart beats on with perfect set up, closely aligned with strict parameters, ready to continue the attack or recoil on a wire. Wrap the profit and then stand down, ready for the next hunt"

"When we are talking about sentiment it is very hard to say that this sentiment will prevail another 6, 9, 13 hours. Sentiment is not a constant line. Main trend is bearish, tech picture on daily is bearish, even intraday neutral. Nobody restrict to play long eur short usd position with the target at 1.12 or even 1.1361, this is every traders individual choice as always"

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And God wold graunt me my prayer,
A child ayene I wold I were.
Fore pride in herte he hatis all one;
Worchip ne reuerens kepis he non;
Ne he is wroþ with no mon;
In charete is alle his chere.
light on you all
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