DANCING WITH THE MARKET
Dancing with the market can often be a frustrating experience because it is constantly attempting to trip You up on the dance floor.
To make Your dance experience a little more pleasant, You must develop the discipline of a Master Trader.
You must be willing to severe trades that are working against You.
You must be willing to wait for proper trade set-ups.
You must continue to educate yourself.
The market is fickle and temperamental, some might even call it bipolar. Sometimes it is up, sometimes it is down. As a trader You must tread lightly and follow the varies moods of the market until You can see an advantage.
As a trader You only have two jobs when You engage the market in dance.
#1 Keep from being tricked........
#2 Try to put a little money in your pocket...............
That is it!!!!!!! It is as simple as that (^_^)
YOU CAN DO THIS (^_^)
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Now we everybody can take some Profit small 30 pips and later may 100 pips or more.
Also your Sell near 1.0607 was big help.Thank you very much.Market will go follow our direction, but it's Friday,- protect your Profit.
We are USD/CAD buyers, but we do think differently.
Everybody are looking to Buy USD/CAD.Market knows that.So I think later market will blow all buyers and will break 1.0500 lower.We're looking for support much lower.
Still do not Buy.
What I'm waiting for?I'm looking to Buy in safer range of price.USD/CAD 1.0503 - 1.0531.
USD/CAD getting close to our Target ... #1, also take some Profit NZD/USD Short about 115 pips.
Do not close Trade 100%.New Update coming.
New Update coming. Now no new Entries. Hold NZD/USD Short since 0.7080.
We lost USD/CHF Long very small amount 25 pips.Still hold NZD/USD Short. Stops 0.7080.
It's Friday. Getting little risky.EUR/USD Buy 1.2677.EUR/USD Sell 1.2771.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade
Now we'll get our Profit about 111 pips from 1.2901 Short and we'll Buy one more time.
This level just in algforex.com.
We got our EUR/USD Target (120 pips) and resistance 1.2901 with 1 pip accuracy.
Do not close this Entry 100%.Next Update coming.
Now we have Level for new EUR/USD Buy.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I
EUR/USD 1.2870 is good to take some Profit for 140 pips.
Do not close this Entry 100%.Also we looking some Intraday reversion Short and we'll Buy one more.This level just in algforex.com.
Next Update just in algforex.com.
We got our EUR/USD Long 1.2737, but I have some information that this level much later could be broken lower.If you invest huge amount take some Profit step buy step.Stops near Entry after some Profit.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are
EVERY BROKE TRADER DOES IT THE SAME WAY
Every trader who ever goes broke does it the same way.
I have heard it said that Traders go broke because they are under capitalized, that isn't true. If You can lose $100.00, you can lose $1,000,000.00. The problem is the same in both traders, the refusal to let go of losses. The difference between the pro and the amateur isn't necessarily his/her trading ability. Trading is easy!
The difference is in how he/she takes a loss. A disciplined pro will say, " I will stop the bleeding here if I am wrong." The amateur says, " I am right and eventually the market will come back in my favor." If You are thinking that, You have lost Your advantage.
While a pro will let 10 profitable trade kill 1 loss, an amateur will let one loss eat the profits of ten profitable trades. Both traders had the same number of trades but one will end the month in profit and the other will end the month in stress and pain.
Cutting a loss quickly soon ends your attachment to that trade and allows You to pursue a more profitable trade set-up. Part of the reason it is so hard to cut a trade is because You waited forever for that trade set-up and now You not only have to admit that You did not have the advantage that You thought that You did, but now You have to start the process all over again and with a loss.
DON'T MARRY ANY POSITION; THE MARKET CAN CHANGE IN AN INSTANT!!!!!!!!
IT IS ESSENTIAL THAT YOU HAVE AN EXIT STRATEGY (ONE THAT WILL CAUSE YOU THE LEAST AMOUNT OF PAIN)IF THINGS DON'T GO AS YOU PLAN!
ANY TRADE CAN TURN INTO A LOSS!
If You play this game long enough, You will eventually meet with disappointment. It happens, cut and move on. The market will give You another chance to make profit.
Never allow yourself to become wounded beyond repair in the market, either financially or emotionally. Cutting a loss means that You love Yourself enough to save yourself.
If You are going to win at this game, You have to have the capital to play and cutting trades that have lost the edge is one way to thrive here.
Gotta learn to save yourself! If You are getting stopped out frequently, You have gotta to rethink your strategy because something is wrong.
Free Your mind to find good trade set-ups by cutting trades that are not working in your favor. Holding on to diseased trades only punishes You and eventually it can break You
The biggest discipline that a great trader learns is how to cut a loss
YOU CAN DO THIS (^_^)
We got very nice our last Entry and Adding EUR/USD Long, so ...
If you are new Trade fallow our Strategy...If you trade fallow my Strategy since July 1Th, you do not need Stops at all for this last Entry,- you are in huge Profit.Next Update just in algforex.com
HOW I TELL I AM LOSING MY ADVANTAGE
When trading the 1 min time frame it is essential for You to be able to recognize when You have lost Your trading advantage. These are ways that I can tell that I no longer have the advantage that I believed that I did:
If price moves above/below the previous candle even though it may not close there, I don't have the advantage.
A good trade should run in your favor almost immediately !
If you are not in a decent profit in 7-10 mins , then You may want to consider getting out with a tiny profit or at break even, because chances are high that price is going reverse on You.
Wacky MA's- Pay attention to the order of Your MA's, it is very important, they will tell You if You are in a good trade or trade hell. If your moving averages are 1, 2, 3, 4, 5, then they should be in order 5, 4, 3, 2, 1, or 1, 2, 3, 4, 5, not 4, 2, 3, 1, 5.
Lastly a flat 50 period strongly suggest that You may not have the advantage that You thought.
YOU CAN DO THIS (^_^)
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