Hi there, my name is Ivan, FX trader. After studying varies sources of information for the past few years, my understanding of the FX market has improved dramatically, with this blog simply intending to share with you all a journey within my mind. When I make it to full-time trading, I know the first person I should be grateful to is an Aussie PA trader named Jonathon; He has been inspirational and an enormours influence to gauge where the money flows to. His trades can be followed at http://forexpriceactiontrader.blogspot.com/ . What price is telling you is key, as it always whispers in low or high intensity what market intentions are. I do not endorse the use of any indicators, as they are lagging in nature; analysis should be based on pure price action. Besides, other factors like sentiment, fundamentals, risk control, rock-solid discipline, thousands of hours readings charts, also make up the equation to succesfully ride the FX waves. When entry triggers are detected, I act without hesitation, letting the market do its thing. Please note, information and opinions contained in this blog are for educational purposes only and do not constitute trading recommendations, thus will not take responisbility for any losses viewers may have. Trading FX carries a high level of risk, and may not be suitable for all investors. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. You should not invest money that you cannot afford to lose.
AUD/USD - HAPPY ENDING...
Eventhough I set my TP at 1.0030, I have been monitoring the trade closely and once hit 1.0031 I just closed it manually. Note many times I may be away thats why defining your TP area makes sense, however if it tuns out I am staring at the screen while it all happens, I may opt for a quick close when price approaches the troubling zone, it really sucks to witness price may fall 1 pip short from hitting your target; in black circles you can see why this area is a logical zone to take the money off the table...
Youre the man Ivan!!!!!!
ReplyDeleteYoure the man. Great trading!!!!
Yeah some great stuff going on here. I think Johno is gonna have to start to up his game to match you :).
ReplyDeleteI love the way you select a lower timeframe and zoom right out. This zooming out almost paradoxically gives a clearer picture of what is going on I think (i.e. we always feel the need to zoom right in)
M
Always look at the bigger picture without underestimating the potential of lower timeframe opportunities to get in. Always with caution. It is all about identifying where the most logical support and resistance regions lie...
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