Makaveli Copyfx, support, resistance and breakout trading.
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    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

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    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

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    Quote Originally Posted by Makaveli View Post
    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

    happy saturday, seeing good opportunities in usdjpy pair lately is also very good to discuss
    after a few days yesterday this pair experienced a fairly deep decline, my analysis next week this pair is very strong potential for bullish up, up to several price levels to reach the highest price level that has not been reached so far,
    so the right moment for this pair for me is a BUY moment for the next few weeks, because from a technical standpoint the pair is very supportive for the increase

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    I manually closed my GBPUSD order with $75.80 profits. Thanks to Allah. Right now, I have no active trades.

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    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.

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    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.

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    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.

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    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.

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    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 .

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    Quote Originally Posted by ara View Post
    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 .
    I think these days, it is no longer about the risk and reward but getting the analysis right is all that matters that is the reason why I wouldn't make aiming on 1:1 and getting out of the trade on the right time. Well, I don't have any money in my copyfx account to trade with and I will be funding with some more money sooner, this month perhaps. I need to get the train moving.

    Thanks y'all for your comments.

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