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.
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ReplyDeleteTo achieve breakeven in such market condition is commendable. We'll have to keep taking high probability trades, and never know which trade will be a home run.
ReplyDeleteAnyone watching GBPCHF 4H pin bar?
Lesson learned:
ReplyDelete1-Be aware what session preceded the formation of that bar. In this case was the Asian session, which offers a less reliable or accurate pict on market intentions since the capital moved is far lower... It is highly recommedable to avoid this type of "so-so" trades, unless the tail sticks out... I guess I got excited at the level it popped up, but the bar itself I think was not a "A+"
GBP/CHF that signal is poor under my view, the size is not big enough.. plus the pull-back was quite sharp, doesnt appeal me at all... Also note this pair barely has liquidity during Asia, that would undermine the potential.. All that said, the area is extremely relevant and you playing with the trend, however wait for European trade is a must in here would say...
ReplyDeleteGood to know. Thanks.
ReplyDeleteI like your analysis.