If you divide your trade in 4 parts, you will loss the whole amount when triggering your SL while your target profit is only 1/4. Why do not you just enter with one trade and let it run till the end? Maybe you are setting take profit levels beyond a ...

Volman Style (70-tick chart)

Look a basic pattern, then 1.618 AB extension from point C, so that in terms of length CD = 1.618AB. You can pick any random stock here url and find a few ones that develop these kind of pattern which is very common one. I have taken a couple ...

Can you trade only one pattern and be profitable?

It is just a triangle pattern, not harmonic. image

Harmonic trading-harmonic patterns

Traders losing behave as if they were addicts and lose every time more until they loss everything. It is a traumatic reaction caused by fear to lose. They think they may recover. They are wrong.

How to Become Emotionless

Great wins, great losses. Both cause traumatic experiences, delivering overconficence or traumatic fear. Exposure to markets must be really gradual. First simulate, them demo and simulate, then start trading 0.01 lots max demo and simulate. Always ...

How to Become Emotionless

Yes, you very well can as long as you study the right setup to put into practice you unique strategy. For instance, I have randomly taken a weekly chart of a random currency. I have marked many of its 0.618 retracements. You will see the first time ...

Can you trade only one pattern and be profitable?

I always will insist in this recurrently: Newbies should never trade with real money. Wait at least one or two years spent practicing before you enter real markets, once you feel comfortable trading with consistent profits.

What leverage is best for a newbie?

I think that if someone gives to you a system that is a winner, you should take it no matter if it includes news or not. I don't know if I am misunderstanding what you are saying. Why should anyone reject a good system just because it includes ...

Do markets really change?

That's completely a fallacy (aka "Appeal to Authority") and nonsense in my humble opinion. You turning x into y does not imply you are at all right on your opinion or now anything about trading. I disagree about the news and there is a solid proof ...

Do markets really change?

Support and resistance trading is very profitable in my opinion. This does not mean that you must sell on any resistance and buy on any support. It is like Fibonacci or any other trading strategy. It works if applied wisely. If you just trigger ...

Do markets really change?

Rehearsal programs must include all these as part of the areas of study. Besides, think in the stock market, the futures markets. These have very strict regulations that define how the market and the instruments within can be traded. Regulatory ...

Do markets really change?

No need to be smart to understand that if you change your market or your instrument same principles may apply but with different approach. No need to be smart to understand that if you are under mental distress your perception of reality will change ...

Do markets really change?

I use hedging every time I have the opportunity to. Which is almost every time I trade. Being greedy is a nice way to lose all.

Hedge Trade-panel

The important thing is that strategies require to be adapted to market changes, and one cannot assume it will never happen. The conclusion is that one must know why the strategy works and how to develop a new one when needed.

Do markets really change?

Only if you repeat that a few hundred times will have data enough to verify your method. TjT 5min candle prior to the news just explodes due to the near to 10 pips spread that the news release generates, being impossible to know upfront according to ...

News trading discussion - continuation

Forex is extremely difficult to trade. A newbie is a person who already knows which is the optimal leverage for his/her trading style. If one does not know which is the optimal one, the right TP and SL levels if any, the best asset to put money in ...

What leverage is best for a newbie?

I generally wait until I can easily double my account in demo mode with a few trades without losing all in multiple trials before implementing any strategy in real. No matter how much it takes and it may take years. It is important to manage your ...

When do you know you ready to go from demo to real trading?

One cannot become emotionless. What a trader needs is to acquire confidence in the strategy through years of practice in which one can verify that it works. Only when you have tested and verified your trading, you will develop a mental state that ...

How to Become Emotionless

The right leverage for a newbie is zero. Let me explain. If you don't know which is your optimal leverage for your timeframe and cannot define the position size and TP level that will protect you from a margin call no matter if you use or not SL, it ...

What leverage is best for a newbie?

Hi. I have traded sometimes according to Bob Volman's but I finally opted to give up because I was not finding a lot of good trades per day. I am not saying the technique is wrong, I have almost always found his price action analysis is right and it ...

Volman Style (70-tick chart)