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.
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.
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.
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.
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.
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