Once again a great article for developing solid trading habits…Thanks a lot.. Your an inspiration Nial. Thanks so much Nial Isabel August 5, at
About Edward Lomax
Be it a short sell or Long buy level. No other educator or training company will actually be able to give you that edge. Here at Platinum Trading Academy, we use an Algorithm which gives us a series of Buy and Sells zones for each trading day. It is important that you understand we do not take blind entries on each sell or buy zone. To help you draw a picture in your mind of what I am talking about, I have placed the 2 charts below as examples:.
For those who have an eye for detail and are already wondering what the blues lines which say MAJOR CAP means, the bad news I have for you is that you will have to wait for my lesson about those. This is another Forex Strategy we teach our clients and as you can see, they work a treat. What do you do then to trade them? Place orders with 25 Pips stop loss and aim for 30 Pips minimum. Before I move on to my last example, there is another piece of information that I have to give you.
It is the answer to the question you may have next: When is it not ok to use this Forex Strategy? You can use this Forex Strategy whenever the price of any market hits the Extreme Zone. What about the FED rate decision? Let me put it simply for you. The Extreme zone Forex Strategy works in any market, in any condition and at any time. The system calculates for us the most Extreme levels for each day where the banks and institutions will have their big orders waiting to be filled on that particular day.
This point is the most important in this whole article: I get a lot of emails from beginning and struggling traders and I know for a fact that the main thing that separates the professionals from the amateurs in this business is patience and not over-trading. However, I would like to point out that there is also a direct connection between the fact that most traders get caught up trading lower time frame charts and most of them lose money. In the article I wrote that detailed a case study of random entry and risk reward , I showed how it is possible to make money simply through the power of money management and risk reward.
To be clear, I was not and am not saying that you can make a full-time living as a trader without an effective trading strategy. If you do this consistently, I can guarantee you that you will see a very positive change in your trading profits, or lack thereof. A lot of traders never even get to this point because they are still trying to figure out how the heck to make sense of their trading system.
If you look back over your trading account history from January 1 st until now, ask yourself how many of the trades you lost money on where actually valid occurrences of your trading strategy edge versus random gambling-type trades that you entered out of emotion or impulse.
I read many books on trading. Honestly it goes over my head…. As like your trading strategy and training, your articles are a very simple and simple to follow. Thanks again and all the time Mr Nial. Since paying most attention on 1D and 4H charts I managed to improve my trading.
I wish I had known all of this before I blew up my account. Thank you so much!!!!! Good day Mr Fuller. Keep up the ace information! Do direct me accordingly so I build a healthy portfolio that includes FX on a recognized platform.
Nial sir, I analyzed my trades since 01st January. I am unknowing doing these mistakes. As I read it I thought how I could apply it to my trading and then I came across this post. Hi Nial Thanks for explaining all this. I really got so many things clear by reading this article. Dear Nial sir, For the past one year I am sticking with your webside and learned lot of things.
Now, I am closely monitoring my habits. Thank you once again for the excellent article. Very good article Nial! You have very good insight. I am inspired to get back into trading again. Once again a great article for developing solid trading habits…Thanks a lot..
Another brilliant article, and good advice within it. Excellent and encouraging Article. Trade less, observe more and with patience you can improve ur Trading. I just spent After reading this i realize i have spent my money wisely. Not only have you got your stuff together when you talk about forex,you are on top of your game when it comes to life. That , I am sure. Your an inspiration Nial. I have found overtime I actually trade less but my routine is daily. Thank you for your continued inspiration and support.
In simple words quality should be better than quantity. I ordered the book. Actually had heard of the principle but never got to any in depth study. I will fix that immediately!
Your blog posts are nothing short of Awesome! Thank you for taking the time to put this post together. Thanks Nial for these reminders. When I found a trading strategy that works, I make money, but only for a time. I trade using the lower time frames, earn some money, and lose much more, so I have to return to the daily time frame. I realize I need to receive your teachings again and follow them religiously. I know my trading, and my life, will never be the same again.
May God bless you more. Your email address will not be published. Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Learn To Trade The Market Pty Ltd, it's employees, directors or fellow members.
Suppose we open a trading terminal MetaTrader 4 today and note that:. This is the same candle as in Figure 1, only the hourly interval.
For example, if the amount of daily candles points, and trailing stop should be placed at a distance points. Candle points — tryling-stop: But I personally believe that it is better to use a trailing stop to lock in profits.
Vystalyaem pending order to sell Sell Stop, when the price broke yesterday makismum. Stop-loss is points higher than this maximum, because price is not too moved away from him and turned around. The transactions in this strategy are not as common, but if you observe the laws of several currency pairs, the probability of the conditions and the entry into the market will garazdo above!