Makaveli Copyfx, support, resistance and breakout trading.
Page 1 of 16 1234511 ... LastLast
Results 1 to 10 of 151

Thread: Makaveli Copyfx, support, resistance and breakout trading.

  1. #1
    Trader
    Join Date
    Nov 2017
    Posts
    6,722
    Promo (¢)
    6,120
    Thumbs Up
    Received: 33
    Given: 68

    Makaveli Copyfx, support, resistance and breakout trading.

    Trader: Makaveli https://my.roboforex.com/en/copyfx/p...rs/show/39185/
    Account number: 2920359
    Server name: RoboForex-Pro
    Account type: CopyFx MT4 Pro-Standard
    Leverage: 1:1000
    Funds: 106.85 USD
    Rating: http://www.copyfx.com/ratings/rating-all/show/39185/

    Description of the subscription conditions:
    Scheme: Trader on commission
    Added on: 23 February 2018 11:43:09
    Started on: 23 February 2018 11:43:09
    Risk level: High
    Commission per lot: 3 USD
    Amount of minimum deposit: 100 USD
    Investment period: 4 weeks


    My strategy is the normal traditional trading strategy, use of support and resistance. In short term called technical analysis. The candle stick is also used in evaluation on how to trade it.

    Example.

    USDJPY is bearish on the daily time frame for a long time. Therefore giving a good chance to follow the trend. So I switch to the 4 Hour time frame.

    At 107.866 is a little resistance with sell signal candles around it. It is a good signal to go on short whilst the daily time frame is still bearish. My Tp is at the next support. It will make it past that zone, but I don't want to be greedy.

    Picture of the chart

    USDJPYH4 sell trade.png

    Not allowed!

  2. #2
    Trader
    Join Date
    Nov 2017
    Posts
    6,722
    Promo (¢)
    6,120
    Thumbs Up
    Received: 33
    Given: 68
    Situation with my trades.

    I closed my UJ trade yesterday after correcting my analysis with a little loss of 75 cents. But now I have a good current trade on GU and my analysis was based on the trend line on the 4 hour time frame when the market price retest and reacted to it and price pushed lower whereas giving a selling signal candle. I am in and hoping to see price get to my choice of TP

    Situation.jpg

    Not allowed!

  3. #3
    Trader
    Join Date
    Nov 2017
    Posts
    6,722
    Promo (¢)
    6,120
    Thumbs Up
    Received: 33
    Given: 68
    I manually closed my GBPUSD order with $75.80 profits. Thanks to Allah. Right now, I have no active trades.

    Not allowed!

  4. #4
    Registered user
    Join Date
    May 2017
    Posts
    8,182
    Promo (¢)
    3,570
    Thumbs Up
    Received: 72
    Given: 63
    I can see your dedication with this trading journal, that is nice and you should keep it up. But you did not explain the strategy you are using very well, because you cannot just enter the market with daily chart pattern without having the best possible point that will make your order safe. I will appreciate if you can elaborate on this.

    Not allowed!

  5. #5
    Trader
    Join Date
    Nov 2017
    Posts
    6,722
    Promo (¢)
    6,120
    Thumbs Up
    Received: 33
    Given: 68
    Quote Originally Posted by ajagbeolegba View Post
    I can see your dedication with this trading journal, that is nice and you should keep it up. But you did not explain the strategy you are using very well, because you cannot just enter the market with daily chart pattern without having the best possible point that will make your order safe. I will appreciate if you can elaborate on this.
    Hello mate. I think I did above. I follow the trend, thereby using trendline, support and resistance to determine my entry point. Some times I do make use of moving average. I suggest you view the picture chart I posted about the signal I used. I will write more about my signal when I see another good one.

    Though not that really good, but I am working and putting more efforts.

    Not allowed!

  6. #6
    Registered user
    Join Date
    Aug 2013
    Posts
    11,189
    Promo (¢)
    3,210
    Thumbs Up
    Received: 66
    Given: 48
    trading with high risk is not recommended because this will let you to be under stress always and you may not be able to manage your trading positions and so it is better to decrease the risk as you can as possible to be able to make consistent profits and protect your money at the same time, and so you will keep your account safe.

    Not allowed!

  7. #7
    Pro
    Join Date
    Nov 2017
    Posts
    5,285
    Promo (¢)
    5,610
    Thumbs Up
    Received: 36
    Given: 41
    Quote Originally Posted by sameeh View Post
    trading with high risk is not recommended because this will let you to be under stress always and you may not be able to manage your trading positions and so it is better to decrease the risk as you can as possible to be able to make consistent profits and protect your money at the same time, and so you will keep your account safe.
    Market support and resistance levels trading strategy is very low risk trading strategy but when traders are make mistakes in their trading and take high risky without analysis of this market then the result is always be bad for traders. So we must need to trade on this market with wisely which help us to get the profit from forex trading with easy way.

    Not allowed!

  8. #8
    Registered user ara's Avatar
    Join Date
    Dec 2013
    Posts
    1,836
    Promo (¢)
    2,595
    Thumbs Up
    Received: 105
    Given: 184
    Quote Originally Posted by Makaveli View Post
    My strategy is the normal traditional trading strategy, use of support and resistance. In short term called technical analysis. The candle stick is also used in evaluation on how to trade it.

    Example.

    USDJPY is bearish on the daily time frame for a long time. Therefore giving a good chance to follow the trend. So I switch to the 4 Hour time frame.
    Very nice trading system although this is very simple but seems like powerful, I always prefer to this kind of strategy, maybe you are less fortunate in managing this account so you seem to leave this account and not updated anymore. I see you may set the same amount of risk and reward ratio. It really depends on the quality of your analysis to be profitable, but I do not know, I never use 1: 1 risk reward ratio so I do not know for sure, obviously ,,, I do not understand why you do not have good results using this strategy .

    Not allowed!

  9. #9
    Registered user
    Join Date
    Mar 2018
    Posts
    2,641
    Promo (¢)
    0
    Thumbs Up
    Received: 15
    Given: 3
    If your strategy is breakout with these support and resistance levels then you must need use lower time frames because in higher time frame market breakout with these levels are not happen easily. If you are use only H1 or M30 time frame with this strategy then you will find good breakout on daily basis and then make some good and big earning easily on this market.

    Not allowed!

  10. #10
    Registered user
    Join Date
    Jun 2017
    Posts
    8,469
    Promo (¢)
    6,300
    Thumbs Up
    Received: 28
    Given: 12
    It's very good to see that you always keep this thread of yours active by updating it time to time, support and resistance is a good strategy and like you said it's a normal strategy that almost every forex trader make use of, because the support and resistance strategy is a very good and common strategy among forex trader's.

    Not allowed!

Page 1 of 16 1234511 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •