Hi Traders, thanks for joining me in this new thread. We'll be utilizing the thread to discuss trade opportunities that I've detailed on my blog: www.forexmademillionaire.com
Most of the trades are swing trades, so if you're a scalper this probably isn't the thread for you.
My goals for this thread are as follows:
1) Provide a central place to update live trades that we're working and continued analysis. I generally do not update the blog once a trade has been published there, but I do like to have a place where I can update in semi real-time and keep everyone informed.
2) Gather a group of like-minded traders who enjoy swing trading for bigger target profits.
3) Learn from one another and become better traders. This means please provide solid analysis, charts, and different ways of thinking. Trolls and those that spout predictions without analysis will not be tolerated.
4) Make a lot of money and have fun. I enjoy contributing to the community here as long as it's fun. If it stops being fun, I will stop contributing. Let's make this a fun thread where newbies are welcome and trolls are jettisoned quickly.
The thread will focus on five currency pairs: EUR/USD, USD/CAD, USD/JPY, GBP/USD, and GBP/JPY.
One of the (many) reasons traders fail is because they run from one pair to the next in search of trade opportunities. To me, that's bad for a number of reasons:
1) It teaches you that "there's always a trade to be had" when reality sometimes there isn't and it's best to sit tight
2) It does not teach discipline which is something lacking in nearly all traders (often myself included)
3) It never allows you to get a feel for the ebbs and flows of the pairs you focus on (because you have no focus). Every pair has it's own rhythm and differences in responding to technical levels, etc. How can you possibly get to know them intimately if you're trading them all?
Those are the reasons I tend to keep my pairs limited to the above five and generally won't be trading any more than three at a time (due to over exposure reasons). Please respect this and only post ideas and setups around these five pairs.
Looking forward to this!
Geppy
Most of the trades are swing trades, so if you're a scalper this probably isn't the thread for you.
My goals for this thread are as follows:
1) Provide a central place to update live trades that we're working and continued analysis. I generally do not update the blog once a trade has been published there, but I do like to have a place where I can update in semi real-time and keep everyone informed.
2) Gather a group of like-minded traders who enjoy swing trading for bigger target profits.
3) Learn from one another and become better traders. This means please provide solid analysis, charts, and different ways of thinking. Trolls and those that spout predictions without analysis will not be tolerated.
4) Make a lot of money and have fun. I enjoy contributing to the community here as long as it's fun. If it stops being fun, I will stop contributing. Let's make this a fun thread where newbies are welcome and trolls are jettisoned quickly.
The thread will focus on five currency pairs: EUR/USD, USD/CAD, USD/JPY, GBP/USD, and GBP/JPY.
One of the (many) reasons traders fail is because they run from one pair to the next in search of trade opportunities. To me, that's bad for a number of reasons:
1) It teaches you that "there's always a trade to be had" when reality sometimes there isn't and it's best to sit tight
2) It does not teach discipline which is something lacking in nearly all traders (often myself included)
3) It never allows you to get a feel for the ebbs and flows of the pairs you focus on (because you have no focus). Every pair has it's own rhythm and differences in responding to technical levels, etc. How can you possibly get to know them intimately if you're trading them all?
Those are the reasons I tend to keep my pairs limited to the above five and generally won't be trading any more than three at a time (due to over exposure reasons). Please respect this and only post ideas and setups around these five pairs.
Looking forward to this!
Geppy
check out my blog: forexmademillionaire dot com