@Lionkingdom
Absolutely
I got into greed when I lost my first investment. It was a nice lesson and I remember it. But at the same time, the desire for a better result led me to the fact that I created a trading system that I use now. So greed in the worst definition is a destructive factor, but greed can also push you to progress.
Patience is something else. It will come with experience and consistency.

The last spurt of the euro dollar showed that trading will not be easy. My stop loss is at 1.17720 and I am now considering a continuation of the downward channel. In case of its breakout, I set this stop loss, limiting the risks.

So what about the August trading
(The end of the month wasn't easy, but a correctly built trading strategy and plan is my stability basis).

The most monthly traded currency pair euro dollar brought some losses when it broke the downtrend and the further resistance. But I was prepared for this scenario and therefore the losses were cut in time. I have drawn the necessary conclusions from this situation and am working on them.
The most successful trade on the dollar yen was the key moment of the month.
79.7 pips of profit

Also, I currently have a trade open
usd jpy at 109.949, Buy, 90 lot

The price for 1 bitcoin has reached $50k. Not so confident this time. MACD is close to a sell signal, and the RSI is already overbought. The $50,5k will probably not be passed today and consolidation in the 50-46k area will continue. But in case of a breakdown BTC can reach the level of $55k and even higher... will watch for news.

The upward trend in the Euro/Dollar ended with the breaking of the trend channel. The breakout of the EMA 200 at 1 hour was an additional confirmation of a further decline. EMA 200 4 hours at 1.18125 is a support and the final point (tp) according to my trading plan.
Now 2 opened (pound and euro).

The news trading week begun. The opening of my trading week with a profit on the Euro Dollar is a good start and this month is expected to be active.

I will consider the possibility of Euro Dollar sell trade when passing through the 1.17650 support key level with an initial take profit at 1.17350 and a following level at 1.17150

MarcellusLux posted:
I will consider the possibility of Euro Dollar sell trade when passing through the 1.17650 support key level with an initial take profit at 1.17350 and a following level at 1.17150

Euro Dollar trade now is near to the take profit level 1.17308. Watch the trade on my trading system myfxbook page.

Fed Interest Rate Decision
FOMC Economic Projections
Fed Press Conference
https://www.myfxbook.com/forex-economic-calendar

Just waiting for the news today

MarcellusLux posted:
Fed Interest Rate Decision
FOMC Economic Projections
Fed Press Conference
https://www.myfxbook.com/forex-economic-calendar
Just waiting for the news today

The news trading tomorrow successfully done.
Euro Dollar trade closed at the take profit level 28 pips.

As expected, Powell did not give any concrete picture about the purchase of assets, 'a moderation in the pace of asset purchases may soon be warranted'. The interest rate remains unchanged and Fed predicted they might raise interest rates next year.

MarcellusLux posted:
The news trading tomorrow successfully done.
Euro Dollar trade closed at the take profit level 28 pips.

As expected, Powell did not give any concrete picture about the purchase of assets, 'a moderation in the pace of asset purchases may soon be warranted'. The interest rate remains unchanged and Fed predicted they might raise interest rates next year.

I also wanted to enter the market, but I was afraid there would be too much volatile jump and my stop losses would be captured before there was a profit.
I see your excellent trading this month and I understand how much work is put into every pips you earn.

By the way, bitcoin is still falling again. What do you think?

@Siomo It's always better to have 100% confidence than to be 99% confident, but make the mistake of 1%. You did the right.
I like the active market when there is an opportunity to challenge my trading system.
I have already updated the totals on my website, they are also available here, on the trading system page.

Siomo posted: By the way, bitcoin is still falling again. What do you think?

The latest news from China was unfavourable and led to recent drop in the bitcoin price. And despite the fact that now the price has covered some dd, I see that the correction will continue, followed by a decline to 42k.
bitcoin will only break out the resistance after a trigger that should be positively accepted by investors.
Btw the development of electronic currencies (in Europe and the USA) will now possibly affect the btc, following the China, although it is now pointless to talk about sanctions against bitcoin.

MarcellusLux posted:

Siomo posted: By the way, bitcoin is still falling again. What do you think?

The latest news from China was unfavourable and led to recent drop in the bitcoin price. And despite the fact that now the price has covered some dd, I see that the correction will continue, followed by a decline to 42k.
bitcoin will only break out the resistance after a trigger that should be positively accepted by investors.
Btw the development of electronic currencies (in Europe and the USA) will now possibly affect the btc, following the China, although it is now pointless to talk about sanctions against bitcoin.

If earlier the % of the Chinese share in the cryptoindustry was decisive, now this influence will be significantly reduced.
Already lower than $42000 and it doesn't look like the end of the fall. But I don't think it will fall below 40. I'm just going through this period of change.

I see that Bitcoin is now in doubt and many cryptotraders I know are in an uncertainty mind, close to the fear of losing their investments after the next ban...

Lionkingdom posted:
I see that Bitcoin is now in doubt and many cryptotraders I know are in an uncertainty mind, close to the fear of losing their investments after the next ban...

The cryptocurrency market is dependent on news, it's true. Key levels and impulses are formed during key decisions in the crypto area, as well as after Twitter flirting of some influencers. We need to understand this is a normal process.
The fall of the pound this week shows very clearly that there is always a possibility of the influence of various factors, from economic indicators, to the consequences after political events.
Probably, it will take time before investors in the crypto market will treat it with less fear.

I have received initial signals that the Pound Dollar may continue its recovery and may rise to 1.3510 (initially).

Bitcoin jumped, do you think this is the beginning of something bigger?

Lionkingdom posted: Bitcoin jumped, do you think this is the beginning of something bigger?

Let's see what happens this week. If the price consolidates at this level, it is possible that the high point of September will be tested again. After that, it will be interesting to see if 52.5k obstacles for Bitcoin and the double top will scare all investors, or this level will be broken fast.