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psb67

My Day Trading System

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Day trading, perhaps the most interesting at the same time highly testing a venture of all trading methods.

 

I wanted to share with you all the trading system I follow, which I found to be highly interesting.

 

I have attached 5m and 15m charts of GBPJPY & USDCHF of today's european session.

 

Healthy And Wealthy Trading

GBPJPY_M5-M15-150409.thumb.png.fec33bb22ffbab0a5cdd34fd1cc25d7b.png

USDCHF-M5-M15-15-04-09.thumb.png.29952059f73caeca087c2fd9e6899673.png

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Hi there..

 

What exactly is the system? Would you be kind enough to elaborate?

 

Thanks..

 

Hi Shopsmart,

 

Thanks for your reply.

 

I would be more glad to explain my system to you, if you would be kind enough to share with me what do you perceive from my charts.

 

Once you understand the functioning of it, you can make even if you don't want on an avg. 50 to 100 pips a day. :)

 

Healthy And Wealthy Trading

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It looks to me like you trade around pivot points based on some combination of awesome oscillator, macd and whatever that gooey orange indicator is.

 

 

Paul

 

Hi Trader,

 

Perhaps this is the first time, I am hearing a lovely name, "Gooey Orange Indicator" lol

 

Thanks anyway Trader.

 

I will try to be brief and succinct.

 

1. Pivot plays 10%

2. AO,EMA-200 & MACD 40%

3. The Gooey Orange Indicator 50%

 

The whole combination esp. in 1M makes tremendous impact. esp. with GBPJPY & USDCHF. My most fav. pairs. At least in a day, conservatively speaking, 2 times you get a chance to make a min. of 50 pips each confidently and assuredly. :)

 

Healthy And Wealthy Trading

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I remember seeing the orange indicator somewhere else but I cannot remember what it was.

 

 

Paul

 

Paul,

 

It's a Rainbow Indicator for MT4. There is no big secret involved in my system. It's a matter of how we fine tune our system to suit our temperament.

 

In my trading, I don't depend 100% on TA alone, perhaps that's one of the reasons I am being to some extent successful in my trading.

 

I am learning, I don't mind being modest, to exploit this system to the fullest extent for my Equity index as well as forex trading and share it with you all.

 

Healthy And Wealthy Trading

Edited by psb67

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Hi Friends,

 

My today's GBPJPY 1M Chart. Regret could not post earlier since I was busy on a long telecon with my friend from US.

 

Healthy And Wealthy Trading

 

Sureba67

GBPJPY_M1-210409.thumb.png.d82845e6cd1785d2c2564d912752d37f.png

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I am very anxious to hear more about this system !!!

Put it up in a window beside my usual system today - did MUCH better than usual -

just basically using the trigger buy/sell when the AO is above/below the 23 day

moving average and the MACD crosses

May have just been an odd day but it almost works out to be a SAR system !

You said you use the rainbow indicator 50% - for exits I presume - I was watching

for the AO to go under the MA and/or MACD crossing for exits - I don't have the rainbow

indicator available and was using a similar one with a series of Hull MA's

Didn't look at the A/D much but am guessing you are using it to get an early heads up/confirmation of market direction

Please post more details on how you trade your system ! Today would be good - yesterday would be even better ! LOL :) Thanks so much for the information - kinda excited about using it tomorrow !

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I am very anxious to hear more about this system !!!

Put it up in a window beside my usual system today - did MUCH better than usual -

May have just been an odd day but it almost works out to be a SAR system !

You said you use the rainbow indicator 50% - for exits I presume - I was watching

f

Please post more details on how you trade your system ! Today would be good - yesterday would be even better ! LOL :) Thanks so much for the information - kinda excited about using it tomorrow !

 

Hi MF,

 

Thanks for your reply.

 

In fact, couple of forex brokers showed keen interest on my system and they wanted to make autotrader out of it. Only I don't believe in autotraders. :)

 

My aim is to achieve at least on an average 20 to 30 pips per trade with minimum drawdown. In trading, there are no would have been, could have been and everyday is a new day. Frankly, one of the reasons I am not making big noise about my system, although it took lot of efforts to form such a wonderful system to suit my trading temperament and it is working well for me, the system that works for me, may not work for others. This is an universal truth.

 

That's why, I had started a Real time Free Scalping Calls for my friends instead of trying to explain them the whole system. Besides, this is yet another reasons I leave it to my readers to interpret the system so that they can fine tune it to suit their trading temperament.

 

Most of my entries are based on strengths and weakness of the price movements. MACD and AO are excellent in identifying the same. If you had noticed I use higher numbers in MACD in order to avoid whipsaws as GBP/JPY is prone to move erraticaly. Rainbow helps me with S/R and trend direction.

 

Since I am from Stocks background, and have been in stocks since 1992, I exit when my target is achieved, I don't bother about where it goes fr. my exit. I wait for the next turn.

 

Healthy And Wealthy Trading

GBPJPY_M5-050509.thumb.png.999cd8bd15bf9c11503cc9da56135f9e.png

Edited by psb67

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Winning Strategy - My Personal Experience

 

It's more essential to work on yourself to get 100% positive result with accuracy than just working on your trading system to work for you accurately. In simple words, 80% work on yourself and spare 20% on your trading system.

 

Once you start practicing this, even if you don't want to win your trades, you will win because, it's not your trading system that's making your winning trades, it's YOU.

 

Healthy And Wealthy Trading

Edited by psb67

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I am attaching here my M1 and M5 GBP/JPY charts for your understanding.

 

It's a real fun trading gbp/jpy, esp. scalping. We did so far very well and we are calling it a day. :)

 

I regret the idea of using web based IM Meebo in my blog didn't strike earlier.

 

Healthy And Wealthy Trading

GBPJPY_M1-050509.thumb.png.763716ea1aa7adca0226ac0887440a50.png

GBPJPY_M5-050509.thumb.png.59e0abd473422c185faaa884b04643fe.png

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Hello friends,

 

Yet another highly charged session with huge volatility, with good chances for scalpers. :)

 

We could not do more than 4 trades since I was not keeping well. One was a real bad call but in just 3 jumps my target was reached. I had never seen in one shot 30 pips jump in gbp/jpy as I had seen today. Only later realised it was due to the unexpectedly positive data released at that time. :)

 

I violated my own rule, "Do not force yourself to trade when you are not mentally, physically fit". It was a chance I took.

 

We called it a day with 55 pips with no losses.

 

Healthy And Wealthy Trading

GBPJPY_M1-060509.thumb.png.97f7c0924dc9ed7aa5eb0070b5874621.png

GBPJPY_M5-060509.thumb.png.26499796872e366bde721ccf084cb54c.png

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Hi again psb67 !

I have used your system for several days now - I was trading on a small time frame and was amazed to back off ( 15m chart ) when the day was over to see what lousy days they were ! That being said - they have been the best days I have had in the markets in as long as I can remember !

As I said before - I do not have access to the rainbow indicator and my substitute really didn't tell me anything new - didn't use A/D ( used Williams A/D ) until today - with the addition of your moving average it helped a lot

I also use two CCI's in one window - 14 and 50 - when things are smooth they get me in a little more quickly and also help to enter in the middle of a MACD trend - Also use MACD crossover with a MA4 - when there is the least bit of chop I wait for the MACD to cross its long term MA

This morning I dropped down to the 1M chart and traded most of the day with that - made money trade after trade ( this is all GBP/USD ) - Your MACD with that longer term MA smooths it out and it trades like a 5 or 10 minute chart !

R/R Excellent ! Win/Lose Excellent !

Have to tell you - when I first saw your post I was thinking " Oh Boy ! Heres the 142nd set of MACD magic settings I have seen this week ! " So glad I tried them !

How do you get your profit targets ? Fibs ? I need to look at that - haven't seen a good exit point from the indicators yet - sometimes just the MACD works - wait for it to flatten out - but not sure yet if that would work in the long run - the built in delay that is so deadly for entries is slow to show an exit

Again ....... can't thank you enough ! My trading has staged an absolutely amazing turnaround - thanks to you !

BTW - 54 pips yesterday - 83 today !

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Hi again psb67 !

I have used your system for several days now -

Again ....... can't thank you enough ! My trading has staged an absolutely amazing turnaround - thanks to you !

BTW - 54 pips yesterday - 83 today !

 

Hi MF,

 

It's always heartening to listen to even a single trader sharing his experience, both positive as well as negative in a public forum so openly; it helps both the concerned trader as well as the person whom he/she addresses. It helps in a such a manner to improvise further. :)

 

Coming to your point,

 

1. <<How do you get your profit targets ? Fibs ? I need to look at that>>

I set my targets, reasonably - for gbp/jpy - if scalping, 20 to 30 pips per trade, if position trading min. 100 pips. At times when I see the trend is reversing, I won't mind getting out with even 10 pips. Once my expected target is achieved I close my eyes until I get a next chance. I won't bother even if it runs 100 pips fr. where I made my exit, unless I get clear entry. I never chase the trend.

 

2. <<As I said before - I do not have access to the rainbow indicator and my substitute really didn't tell me anything new - didn't use A/D ( used Williams A/D ) until today - with the addition of your moving average it helped a lot>>

Try to Make your life easier and enjoyable while trading but always have high dreams. It's not your system that makes your winning trades, mind you, it's YOU. The system only plays 20% on your entire trading.

 

All you need is couple of bar charts with EMAs, MACD, AO and CCI with SMA (it's too sensitive) or even Stoch with higher nos. is better along with Fib. I have Rainbow, undoubtedly it's an excellent indicator. Don't bother if you don't have it. Don't try to replicate it. Not required.

 

3. <<Have to tell you - when I first saw your post I was thinking " Oh Boy ! Heres the 142nd set of MACD magic settings I have seen this week ! " So glad I tried them !>>

:) I love this part. This attitude always helps improving one's self. Just imagine in the last 3 years, how many such indicators I would've worked with to reach today's level. It takes time my friend. I respect your conviction, commitment, involvement and interest. The most essential 2Cs and 2Is for any man/woman to become successful besides being a responsible trader with lot of greed. (Read my blog about my understanding of GREED)

 

4. <<I have used your system for several days now - I was trading on a small time frame and was amazed to back off ( 15m chart ) when the day was over to see what lousy days they were ! That being said - they have been the best days I have had in the markets in as long as I can remember !>>

As I had mentioned often times, every system is unique, it's not mandatory the system that works for me should work for you. If you want to make it work for you, you must blend with it, for that you must observe it, fine tune it until it suits your real temperament before placing your first order.

 

To share with you, when I pick up a currency pair or a stock, I observe it, at times even couple of weeks until I am convinced I am comfortable with it. If not, I forget it, however great it is. Now, you know why I love gbp/jpy and usd/chf. :) I follow a 21 days formula that I devised when I was a marketing consultant to chose my pair or a stock.

 

My advice:

 

Work with one or two pairs. Avoid tracking every pair that moves up and down. If your pairs do not give any trades for the whole day or for few hours, consider that day is a holiday or for few hours, time for relaxation, go out with your gf or to be on the safer side play Freecell. With Freecell, you can preserve your wallet and improve your concentration. lol

 

For scalping, Use 1M chart with MACD, CCI with SMA or Stoch, AO. Use 5M and 15M for trend direction, Fib for S/R. You must have real patience if you want to use MACD or CCI or Stoch with higher numbers. I notice you have already started getting used to it. :)

 

IMPORTANT: Once you have achieved your day's target, say whether in 1 trade or 5 trades, close your trading application, do something else. Once you start doing that, you will experience the true meaning of life.

 

<<Again ....... can't thank you enough ! My trading has staged an absolutely amazing turnaround - thanks to you ! BTW - 54 pips yesterday - 83 today !>>

 

Thank yourself for allowing yourself to really work seriously for the first time with the sole intention of winning your trades and improving your spirits.

My losses were my investments. We all tend to ignore this fact. :)

 

Healthy And Wealthy Trading

Edited by psb67
Correction

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Hello friends,

 

Hope everyone is doing well.

 

Attaching with my usual gbpjpy, eurusd charts for your understanding.

 

Healthy And Wealthy Trading

GBPJPY_M1-080509.thumb.png.d67ed20d83090d95b10acdf21d1d239a.png

GBPJPY_M5-080509.thumb.png.8cc6871a80f6488b56b402964289bd9e.png

EURUSD_M1-080509.thumb.png.28a62f74aae10c72f4ecf303b3d11009.png

EURUSD_M5-080509.thumb.png.c682879c46f70cb2061823ac480192c8.png

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Hello Friends,

 

Hope your weekend is going well. :)

 

Looks as though the present trend of Pound will continue for few more days. Attaching here my gbp/jpy charts for your understanding.

 

Healthy And Wealthy Weekend

Healthy And Wealthy Trading

 

Sureba67

GBPJPY_M15-100509.thumb.png.fdcb7e0ec8f35bd246eb0570b0ec1ebc.png

GBPJPY_M30-100509.thumb.png.8df4632dea519873df79c3195db3a78a.png

GBPJPY_H1-100509.thumb.png.5254683731696c5d5e8727570a544709.png

Edited by psb67
Correction

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"Looks as though the present trend of Pound will continue for few more days."

Yeah Psb67 - just rub it in !!!! LOL :) Sure wish I had been trading Friday !

 

I am learning more and more of the subtleties of your system every day ! Has worked magnificently for me as is but there is much more to it.

As I said before, I use the CCI 14/50 ZL crossover a lot, however it is just too noisy - it needs a filter. I have tried MA's but they just seem to kill its effectiveness - Enter the Psb67 Super MACD - LOL :) - Using the Macd as a filter it performs almost flawlessly - I have noticed that that when the CCI is very jittery the Macd keeps me from using it - by the time it settles down, I am " permissioned " to use it and it is accurate.

One other very interesting thing - I am using the AO but am becoming persuaded that the A/D is more accurate - less noisy ! Its a very subtle thing,but I have noticed that when I am " permissioned " by the MACD - and the A/D has ticked up, even very little, the CCI signal is a good one - it seems very consistent - like I said - it is very subtle - but seems to be reliable.

One of the most powerful signals I have seen is when there is a long term bias to the market - the A/D is positive - and there is a " notch " in the A/D - it drops to near zero. perhaps slightly below - If I start getting buy signals at that time they are nearly always powerful moves ! Its a form, I think, of how the COT is used in the Futures market - a peek into what the commercials are doing.

Psb67 - I went to several other sights where you post and was very impressed ! I would love to hear your insight as to what kind of trading hours to keep - I am retired and could trade 12 hours if I wished but ....... not with focus - not effectively - what are your thoughts on this ?

Also - all constraints aside - social obligations, sleep etc. aside - what hours would you prefer to trade the GBP/JPY and the USD/CHF ?

As always - Thanks so much for your insight and help !

Mack

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"Looks as though the present trend of Pound will continue for few more days."

Yeah Psb67 - just rub it in !!!! LOL :) Sure wish I had been trading Friday !

Mack

 

Hi MF,

 

Hope you are enjoying your weekend. Your tone however exhibits you are really enjoying your weekend. :)

 

<<Psb67 - I went to several other sights where you post and was very impressed !>>

Glad to note you spared your time visiting my posts.

 

<<As always - Thanks so much for your insight and help ! >>

I assume my role, either you call it as a facilitator or light house to provide direction and help to you and my fellow traders understand trading and them (YOU). You must also learn to only thank God and yourself at the end of every trade. Thanking me makes no difference. :)

 

<<Also - all constraints aside - social obligations, sleep etc. aside - what hours would you prefer to trade>>

 

My most preferred trading hours: Beginning and End of Asian, European and American hours. I avoid news hours. In between I work with Indian Stocks, play free cell, listen to my fav. KennyG and sleep for an hour.

 

<<As I said before, I use the CCI 14/50 ZL crossover a lot>>

I stopped using CCI because it does not suit my temperament. May be due to my age factor. lol

I like Stoch with higher numbers.

 

<<I am retired and could trade 12 hours if I wished but ....... not with focus - not effectively - what are your thoughts on this ?>>

Once you and your system have established a kind of synergy, and you have accepted it's you not just the trading system that makes your trades win, that may take some time, you would not be required to sit for whole 12 hours. On the other hand, over stressing yourself will have dire effect on your trading. I would not advice you to sit for 12 hours. Frankly not required.

 

If you are into trading because you are retired, then change that mind set. It will have great impact on you.

 

<<I am using the AO but am becoming persuaded that the A/D is more accurate - less noisy>>

Recall what I said about my purpose of using AO. I use it primarily to measure the strength and weakness of rise and fall. On the other hand, A/D performs a different role. If you take a close look at my today's 15M chart, you will get my point.

 

Have a nice day. Regards to all of you.

 

Healthy And Wealthy Trading.

Edited by psb67
correction

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Hello friends,

 

Glad to see you all after a peaceful weekend. :)

 

Attaching here today's 15 min. & 30 min. charts for your understanding. Yesterday's correction was quite healthy a one.

 

Healthy And Wealthy Trading

GBPJPY_M15-120509.thumb.png.93619f77e18d149d89d4d90ab1783717.png

GBPJPY_M30-120509.thumb.png.8ee65336e5d59c641723fa8aff98c60b.png

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You going to join us over here psb?

 

Hi Brown,

 

So kind of you. How are you?

 

I am yet to figure out how I can contribute to your thread. I went thru' the whole thread, and saw lot of our friends sharing their trade details.

 

I will see you there. :)

 

Healthy And Wealthy Trading.

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Wish to share my thoughts.

 

I have never before tracked EUR/GBP until recently. I found a thread dedicated for the same in TL as well.

 

I began to follow this pair when one of the US based brokers called me to discuss about making autotrader out of my trading system exclusively for GBP/JPY and he mentioned they already have an autotrader for EUR/GBP. Frankly, I am not a fan of any autotrader or EA, nor have I worked with either. :)

 

Now, my little experience and opinion with/of this pair is, anyone wishes to improve one's day trading or scalping, one must work with this pair for at least few months before working with any pair. This pair offers a lot to learn. I am working on fine tuning my SOLIMO to suit EUR/GBP in my spare time to include it in my free calls service.

 

I may be craziest man on the earth to ever conceive such an idea and post here but I don't mind being crazy if it has the potential to make the difference. :)

 

Nice day.

 

Healthy And Wealthy Trading

 

Sureba67

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    • Hi Humble, I was (mis)fortunately enough to have received an injury that took me out of work the last 2 weeks. During those two weeks, I reviewed this entire thread as well as your trading log. I am curious how you are doing as well.  There were many things I took away from re-reading this thread and saving over 1000 pages of notes. The biggest thing that I believe that attributed to success was Thales' warm-hearted compassion for self and others. He demonstrated this time after time even stating that he gets stopped out to the tick at least once a week and it is ok. He also consistently told other traders to take it easy, not beat up on self, and mistakes are actually ok.   Here's why I believe self-compassion/trust is actually the missing piece so many of us have yet to find consistent success. When I take a loss (or miss a gain) I feel as if I did something wrong -> I then criticize/punish myself -> I then seek to avoid self-inflicted pain by searching for remedy -> I then change/modify trading plan, add indicators, or adopt a brand new strategy/guru in hopes that I now have the remedy to not have to experience the automatically generated self-punishment associated with a loss (or missed trade). This cycle continues ad infinitum and it is now many years later in the same game.  I was listening to Mark Douglas' workshop last night and he said that the key to success is having the belief in your own consistency. Put it another way, do I believe that I can trust myself? If I beat myself up for an outcome that I have no control over than I cannot trust myself. My mind would do what it can to prevent this self-inflicted pain from re-occurring by not following a consistent trading plan (loss avoidance or chasing trades). The only way to become successful (consistently profitable trader) is to be able to maintain self-trust no matter what the next trade outcome is. To do that, I must completely reprogram what a loss/mistake means by thinking in probabilities.  Mark Douglas has a recipe to help develop this sense of probability thinking in both of his books, which I'm sure you've already read. If not, the simple premise is, execute a simple trading plan that includes a quick scale out and become acclimated to the random nature of the results. Do this for 30 trades without change. The purpose of the quick scale out is to develop a sense of consistently taking money out of the market. We all started with very positive intentions of creating freedom for ourselves/family and yet it is this exact agenda that causes us to than make ourselves feel bad for not achieving such results. I am now giving up any egoic notion of what a consistently profitable trader means. I take no egoic pride in being consistently successful at swimming or walking. There is no reason for trading to be any other way. Any other way will lead to failure. Imagine how my walking will be if before take each step, I had to ask, is this the right step to take with the right foot? What if I trip? What if I step on sh**? I would not very much want to walk anywhere. With this all said, I am going to restart this thread with the above Mark Douglas exercise. I will also add the last post Thales posted here: This thread is nearly six years old. The nut of this approach is to enter the first higher high long or the first lower low short at a significant support or resistance level. If you are not seeing success, two areas of concern might be as follows: 1) You are taking entries all over the place, and not at price levels that have had prior and obvious significance. As price travels from significant support to significant resistance, it will make any number of "lower lows" along the way higher as normal pullbacks and consolidations take place. If you are going to trade in the middle of nowhere, trade for continuations rather than reversals. Ideally, you refrain from trading in the middle of nowhere completely. "Obvious" means even a nine year old looking at the chart can point to the last "Big High" or the last "Big Low." 2) You are cutting profits short. Most who try this approach have no problem with the corollary of cutting one's losses short, especially as the stop level is "built into" the "set-up." However, most also succumb to the too great temptation to cut profits short by moving the stop to breakeven before the re-test of the entry or a HH or LL in favor of the trade direction. The cure for (1) is to pick a sufficiently liquid market, do your homework before the market opens, identify those areas where you will be looking for a trade, and then only trade if and when price reaches one of those levels and only if price exhibits the behavior defined by the set-up. Trade one market until you get it. After you get it, most should probably still just stick with one instrument. The cure for (2), assuming you have entered based on the set-up conditions at an obvious S/R level of prior importance, is to set your stop loss, set a profit limit of at least 1 if not 2 times your risk, set an alert via text, email, sound, or what have you that will alert you to the trade being closed, leave the room, and do not come back until you've been stopped for a loss or limited out with your profit.   The purpose of the simple trading exercise is to develop belief in self-trust and trading in probabilities: 1) Identify S/R zones on the weekly/Daily/4HR on EU, GU, EJ, AU. 2) Watch order flow as price enters these zones and take the first 15min 123 or limit PB if missed the trade. 3) Fixed targets, 1 at 1R (for Mark Douglas), 1 at next S/R and Fib confluence area based on swing of similar size. If 1R target is too small based on S/R or if it is less than 20 ticks, skip the trade. 4) Stop or targets, no trailing stops. 5) Before each trade, ask "Is this action I am about to take contributing to my belief in consistency and self-trust?" If it's a no, than don't take the trade! I will be using a $100 forex.com account, assuming 2tick spreads, betting 5% per trade. I will take 30 trades before any adjustments. My hours of operation will be 8am EST to 11:30am EST and 7pm EST to 9pm EST 5 days a week. I will also keep a weekly review of my progress with the following questions: How did I do this week with respect to developing belief to consistency and self trust? How is my trading plan developing? Have I stuck to my plan or did I deviate? What beliefs contributed to such actions? How was this week compared to last week?  How many ticks/R units gained or lost this week?  What will I do to move forward into the next week? What steps can I take?  How is my progress thus far? (Scale of -10 to +10)    Best, J
    • Crypto withdrawals and deposits i had noticed can be done using bitpay i guess however still i believe skrill is good tool for me so far to get my funds processed in a day or on next..
    • Date : 20th August 2019. MACRO EVENTS & NEWS OF 20th August 2019. FX News Today * Trade talk hopes and expectations of further stimulus measures kept stock markets underpinned during the Asian session. * Treasury yields fell back as hopes of fiscal easing were scaled back somewhat. * The US administration denied plans to cut payroll taxes to support growth and Germany’s reported contingency plan for a fiscal package in case of a deep recession, are clearly not the central scenario for now. * The 10-year rate is down 1.5 bp at 1.591%, JGB yields dipped -0.1 bp to -0.241%. * US President Trump called on the Fed to cut rates by “at least 100 basis points“. Fed’s Rosengren meanwhile pushed back against further rate cuts, saying that he is not convinced that slowing trade and global growth will significantly dent the economy. * Comments from US Commerce Secretary Ross that the US will delay restrictions imposed on some of Huawei’s business operations helped to underpin sentiment, although. * RBA Minutes:  The minutes to the early-August RBA policy meeting were released without surprises, affirming its wait-and-see-easing-bias stance while repeating its view that the weaker currency will help exports and tourism. * Italian BTPs are underperforming this morning, ahead of PM Conte’s showdown in the Senate, although it seems Salvini’s attempt at a power grab may be backfiring as his coalition partner is trying to form an alliance with opposition parties. * Topix and Nikkei are currently up 0.7% and 0.5% respectively. The Hang Seng is up 0.09% but the Shanghai Comp down 0.01%. * European stock futures are slightly higher, as are US futures after a largely positive session in Asia. * The WTI future is trading at USD 56.30 per barrel. Charts of the Day Technician’s Corner * The Australian dollar has traded firmer and, to a lesser extent, the New Zealand buck. AUDUSD printed a 5-day high, at 0.6795, as did AUDJPY, at 72.36. Among the other main currencies, there has remained a lack of directional impulse. EURUSD has remained settled in the upper 1.1000s, holding below 1.1100, and USDJPY has become anchored around 106.50. The Dollar hasn’t been much affected by US President Trump’s call for the Fed to cut rates by “at least 100 basis points”. Overall investor sentiment is much less frayed that it was last week, with expectations for stimulus in major economies, along with Trump’s partial climbdown in his trade war with China, assuaging recession fears. Main Macro Events Today * Manufacturing Sales (CAD, GMT 12:30) – Manufacturing sales are anticipated to grow 2.0% in June after a 1.6% rebound in shipment values was revealed during May and following a 0.4% decline in April. The surge in transport equipment sales is consistent with the improving economy and as such fits with the BoC’s overall view that the economy is improving after temporary weakness in Q4/Q1. Support and Resistance levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • GBPUSD Continues To Faces Corrective Recovery Risk   GBPUSD continues to face corrective recovery risk as it eyes further bullishness. Support comes in at 1.2100 with a turn below that level shifting focus to the 1.2050 level. Further down, support resides at the 1.2000 level where a break will turn attention to the 1.1950 level. Further down, support lies at the 1.1900 level. On the upside, resistance stands at the 1.2200 with a turn above here allowing for additional strength to build up towards the 1.2250 level. Further out, resistance stands at the 1.2300 level followed by the 1.2350 level. On the whole, GBPUSD retains its corrective upside pressure    
    • havent done any crypto withdrawals or deposits, maybe support can answer that... Im more if a traditional trader, straight up regular connection tbh. 
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