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What is the first thing after registering in myfxbook?

ArdiFX
forex_trader_[136673]
Jan 14 2014 at 10:03
852 posts
First target on EURUSD didn't fill for less than a pip on my account so i exited manually for +78.9 pips. Still long with 1/2 of position.

I will add lower at 1.3625, SL 1.3545, TP 1.3750.

USDCHF made the conformation that wave B is complete so I moved SL to break even.

minagre
Jan 15 2014 at 22:02
26 posts
Hello, back here again to thank you for your fantastic work to teach, thank you a lot, at the time I am increasing my wallet due losses because once I did not fixed the STOP loss, I am learning time to time, and studying in tecknik on Long Term based on Day 1 candles, by the way I am doing good on news of 3 bulls importance, I have printed the economic calendar so I have a kind of guide.

Greetings and have a nice time
ArdiFX
forex_trader_[136673]
Jan 16 2014 at 09:01
852 posts
jazeredo posted:

Not everyone knows how to use martingale to FOREX....
1st need to use a pair with not a high volatile
2nd Always much attention to economic calendar and try to stay out in important news for the pair
3rd Has to have big balance and use mini lots to start like 0,02 and 10 pips of TP only.

Well...and much practice working with Mt4....i use this system and i'm with 49% profit against 8% of drawdown.

I gess sometimes 10 pips is too far away. Martingales are all the same, just like a tiger puppy, you will never know when it's going to bite you.
MegamindCapitals
Jan 16 2014 at 11:07
2 posts
First thing i seem to be doing now, hello to everyone
ArdiFX
forex_trader_[136673]
Jan 16 2014 at 14:32
852 posts
New trade setup:

Buy NZDUSD four equal lots: entry 1 two lots at 0.8274 and entry 2 also two equal lots at 0.8237.

SL for all positions at 0.8195, TP1 at 0.8350 and TP2 at 0.8450.

Trade is valid unless the pair makes a new high. Remember, don't risk more than 1% on total.
ArdiFX
forex_trader_[136673]
Jan 17 2014 at 17:31
852 posts
Out of the rest of EURUSD and USDCHF.

NZDUSD first entry filled, waiting for second entry.

Good luck
ArdiFX
forex_trader_[136673]
Jan 20 2014 at 15:08
852 posts
NZDUSD both entries filled, price reacted as expected. Lets see how it plays out.
minagre
Jan 20 2014 at 19:01
26 posts
Hello, Ardit,

in reply of your kindest post, I must admit that as you know I am learning on Long Term technik, means based on teen, inversions and mobile medium at 21 days, I get in when I see a PIN or an inside shape.
In my life I am an accountant with normal job and try to increase a little bit my knowledge about forex.
Following also your precious advices.

Talk to you soon.

ArdiFX
forex_trader_[136673]
Jan 20 2014 at 22:13
852 posts
Hello Mirange

I could't much understand your strategy, but it's not that matter. What matters is that if it works you should follow it, when it starts not to work, stop trading, until you change your strategy. Always remember risk management is the key, always precalculate what you are willing to lose.

Although my technique is based on EW Theory, I read a lot about the markets and try to make sense of it. Also follow central banks policies to make sense about long term flows. I follow about 30 currency pairs and indicies but trade only those that have better chance for success. It is important not to overtrade.

Good luck
ArdiFX
forex_trader_[136673]
Jan 21 2014 at 23:28
852 posts
NZDUSD behaving like a 'good pet', just as predicted. I am expecting first target to get hit on Wednesday then I will trail the stop on (b) wave support.

As you may note I'm quiet bearish on USD. That is based on my fundamental view, but that is not the end of the story. On technical side I was bearish vs. EUR and CHF, they did not behave like I wanted so I switched to NZD and that was a good idea.
The lesson is that a trader should trade when technical and fundamental analysis are aligned.

Also I would like to add, I am bearish USD on every pair excep JPY, CAD and AUD.
ArdiFX
forex_trader_[136673]
Jan 22 2014 at 10:24
852 posts
NZDUSD Update.

I will be out today so I trailed stop on 1/2 of position at 0.82950 locked +40 pips and the rest 1/2 at 82550 (b/e). So it is a no stress possition.

Other plans on the market: short AUDUSD and long USDJPY.

Cheers
Marnix
Marnix
Jan 22 2014 at 10:50
12 posts
Hi, Ardit

I don't write very much in the forum because my English is not very good
but i read all your posts and therefore i wish to thank you very much....

Thanks, Marnix
ArdiFX
forex_trader_[136673]
Jan 22 2014 at 13:57
852 posts
You are welcome my friend.
ArdiFX
forex_trader_[136673]
Jan 22 2014 at 14:47
852 posts
Fist target didn't get hit for 4 pips so I closed manually for +74.6 pips (average 55.5+93.7). For now still long with 1/2 of possition. Stop loss at b/e 0.8255.

Even much better opportunity will be to buy when wave 2 ends.
ArdiFX
forex_trader_[136673]
Jan 22 2014 at 17:00
852 posts
This is a strategy on 4H Gold that I posted on 7 December and current chart. Just wanted to note how powerful EW Theory is (and why I thought for some time it might be black magic). Notice how accurate was predicted wave structure, support at 1,178 which was tested and retracement above 1,250.

I'm thinking about posting a trade setup later to short Gold, let's see. For now I will go out and have some fun. Cheers.








minagre
Jan 22 2014 at 21:55
26 posts
Hello Ardit,

you are very professional and very kind to explain your best strategies and because of your kindest mode you are always the best welcome.
I explain my studies, the course I am interest in and the books I am reading are based on 2 strategies.

1) it is called Long Term, following the trend, based on Daily candles, I buy or sell on a retracement based on mobil medium Ema at 21 days and Ema at 100 days.

2) trading on news at 1 minute candles.

I'll read again all you posts on saturday and trying to learn more your strategy.

Take care and good luck.
Marnix
Marnix
Jan 22 2014 at 22:03
12 posts
ArdiFX
forex_trader_[136673]
Jan 23 2014 at 02:21
852 posts
Hello

1. Can you explain more detailed your strategy. If possible add a chart. I'm more interested what is your entry, how it is signaled, SL and TP. If you can do so, then I will write about my opinion.

2. I would advice to avoid news. Expectation is always priced, so when you trade the news it is too late. Also on news brokers widen the spread so you will make only the broker rich. Also will not advice to trade on 1m chart. 1 min is just noise, nothing there to know the behavior of the market. I trade on 1H chart and would not advice to trade in less than 15min chart. The higher the cart, the more history it contain, the more are the chances for success.

Thanks @minagre and @Marnix
ArdiFX
forex_trader_[136673]
Jan 23 2014 at 02:30
852 posts
Gold trade idea.

Sell Gold two lots at 1,250, SL 1,265, TP1 1,235, TP2 1,150.

If it doesn't fill the next few hours I will revise entry, but for now I really like to get short. The chart posted above explains my trade ides. Latter I will post 1h chart.

Good luck and safe trading.
Marnix
Marnix
Jan 23 2014 at 11:36
12 posts
Ardit,

I have to say the strategy you use is a good one, the only problem for me is to understand the EW theory
since there are no books or courses in dutch i have to read a book more than twice to get familiar whit the theory.

The biggest problem i have is to find the first wave (as you see i am new in forex) so i have to learn a lot.

Do you have any advice for me to learn and understand the theory in a good and simple way, please understand i
not give up on forex and want to learn, i don't paper-trade because the feeling is no good for me so i trade a microaccount
whit only a few bucks so if i lose it is only a few dollar :)

For the moment i trade whit the Ichimoku but .....

Thank you very much in advance.

Marnix
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