Dinamic Support and Resistance

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Must Need that 5 Things For Trading

 

If you want to be a successful forex trader must you need to keep in your mind the following 5 things. If you neglect those things it will difficult to be a profitable Trader.

1. Investment Capital:

Someone invest for short time. Someone think today invest tomorrow make profit and withdraw. But real is that forex market chart or trend always not gives you true direction.

So you will need some capital to invest. It is never wise to invest money that is vital to your immediate survival. Only invest money that you can afford to risk.

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2. A proven strategy:

A proven Trading Strategy gives you confidence to make profit but not satisfy you all time. But on adverse situation must need to give more concentrate to your strategy. Never change your strategy but try to improve your strategy.

A solid strategy is something you will need if you plan to be successful in forex. The quality of a strategy in not made in its level of skillset. It can be considered successful based on its simplicity, commonality and ease of recognition.

3. Proper Risk Management:

Proper money management is the boss tools for a successful trader. Today you loss, tomorrow you loss .Next day you have no money. So never you be a real Trader. Trading with proper money management system never is loser. Today or next day he must will gainer.

Only a proved strategy is not enough to make money from forex market. Many people have well organized trading strategy but till today he is loser. This is almost always due to poor money management system. Your risk management alone should be a complete strategy in itself.

 

4. A good Broker:

You made money by worked hard. But fortunately your broker cheats with you.All of your investment and worked gone to zero. You are silent loser when your broker not gives return.

A reliable, reputable and ethical broker is the next step to success. Spreads, fees and commissions will be a part of your calculations when you trade. Having the right broker for your specific needs is key to executing a proper trading and risk management strategy.

 

5. Good Mentorship and Education:

There is not another field or area of expertise that you can go into and have long term, sustainable success with proper education and mentoring. Always look to earn from people who are or have been where you want to be.

    

 

   

My Trading Behaviours

 My Trading Behaviors

#When you want to be a successful trader must need to follow the following rules for make lots of money.

#My wins or losses in the market have nothing to do with me!

#Don’t place a trade based on what I think is going to happen. Trade if they matches the rules.

#I will not trade after a night out or an argument with my partner!

#Don’t have more than 5 trades running at one time.

#Trading is not like a job which has to be done every day. I will wait until the market is right.

#I will be consistent and persistent to become a profitable trader.

  #If it’s going to be it’s up to me! Decide my own destiny.

 I you want to know about Trading Strategy you can go here

The biggest mindset challenge to overcome Fear

 

The biggest mindset challenge to overcome Fear

1.Being Wrong: There is no such thing as a perfect trader. If you don’t figure out what you’ve done wrong. you will never correct it.

2.Losing:You become what you think about. Seeing drawdowns and panicking will attract more of what you don’t want.

3.Missing out: Its better to not be in a trade, than to be in one you wish you weren’t in.

4.Greed:Never compare your results to someone else. If you want to make quick money,you will also loose quick money. Focus On Growth

Butterfly Doji Candlestick

 Butterfly Doji Candlestick Chart Pattern

1.Open price and closing price is the same.

2.Long lower shadow.

3.No color (No bullish no bearish)

4.It is a Bullish reversal candlestick pattern.

5.Appears after a long downtrend market at the bottom position.

 Gravestone Doji Candlestick 

1.Open price and closing price is the same.

2.Long Upper shadow.

3.No color (No bullish no bearish)

4.It is a Bearish reversal candlestick pattern.

5.Appears after a long uptrend market at the top position.

6.Enter the market from the key resistance level gives more accuracy.

How to Trade with Gravestone Doji

 Daily Candle Breakout Trading System

Timeframe: Daily 

Indicator: SSG Bline Indicator and Daily Candle

Entry time:23:30(Broker server time)

Entry type: Buy stop or Sell stop

When Take Buy stop:

When the following condition was fulfilled only buy stop should be placed.

    1.D1 Trend is Up(Determined by SSG Bline Indicator   

    2.Place one buy stop just 10 pips above the previous day's candle.

    3.Stop loss: Below the 5-10 pips(Depend on pair)of the previous day's candle. 

 

Above the picture, we see that SSG Bline indicator show market is up on the D1 time frame.

So at 23:30 server time, we place only buy stop. 

Take Profit: Normally 50-70 pips even more for volatile pair like GBPNZD 100+

Breakeven: 20 pips 

Exit System: Stop Loss Heat and 

                     another one everyday profit trade(any amount of Profit Running) close after three hours of the opening of  Newyork session.  

When Sell stop place:

Just vice versa of the Buy stop when SSG Bline shows Downtrend.