Hi Traders
This month I will win the traders contest because I have to win and secondly because I deserve to win. My Goal is 2 Million.
Background:
I have been trading for 5 years. I have lost almost everything I have owned due to getting involved in the wrong relationships and trades. I lost my house and my car and everything else right down to my last cent. Of Course I still have my clothes
Every trade you take is your relationship with the market; As we all know bad company corrupts good habits. I have cleaned up my life and its only by Gods grace that I now have a good girlfriend whom supports me and my trading. I am now required to win this contest as I need money to trade as a professional. What I have learned is that trading will mirror your bad habits and in life and trading we need quality relationships and trades that will be a win win for both parties. That goes for all good business good relationships and especially when it comes to trading GOOD.
How the Market moves - My experience:
As the market moves it create highs and Lows. Fibonacci moves inside these boundaries along trendlines. (there are three trend lines that control the pace of the market - Inner 80 degrees Fast Medium Middle 45 degrees paced and outer or long term 20 / 30 Degree lines.
When there is no news the market slows down and creates areas of support and resistance. On these days the market usually consolidates goes sideways and meanders like a stream moving inside channels.
When the market breaks a trendline it does this by creating a candle stick formation. As we all know there are three main candlestick formations for up and then down as follows:
- Morning Star / Evening Star
- Bullish and bearing Engulfing
- Tweezers tops and bottoms (but these MUST have long wicks at the bottom
Trade of the Day
As you know it gets quite frustrating when you trying to compete and you get involved in a trade and the market slows down. Then you feel there may be a stronger fundi coming out later on another pair and need to cancel that trade, After all it is a contest. The big trouble I am having is how to keep my orders quality points up. Sometimes I want to move my take profit and get more pips and sometimes cancel the trade to get a better one. Can anyone comment below and help me here.
So yeh I posted my trades today and already cancelled one CADCHF - which was a great trade but as we are competing I want more pips so I cancelled it and sold GBPAUD as it offers 100 pips today and technically 200 pips into tomorrow before shooting up.
This is a basic overview I will continue to post on my Blogs and update for good trades and will try and include pictures when I post them.
All the best.
Giorgio
This month I will win the traders contest because I have to win and secondly because I deserve to win. My Goal is 2 Million.
Background:
I have been trading for 5 years. I have lost almost everything I have owned due to getting involved in the wrong relationships and trades. I lost my house and my car and everything else right down to my last cent. Of Course I still have my clothes
Every trade you take is your relationship with the market; As we all know bad company corrupts good habits. I have cleaned up my life and its only by Gods grace that I now have a good girlfriend whom supports me and my trading. I am now required to win this contest as I need money to trade as a professional. What I have learned is that trading will mirror your bad habits and in life and trading we need quality relationships and trades that will be a win win for both parties. That goes for all good business good relationships and especially when it comes to trading GOOD.How the Market moves - My experience:
As the market moves it create highs and Lows. Fibonacci moves inside these boundaries along trendlines. (there are three trend lines that control the pace of the market - Inner 80 degrees Fast Medium Middle 45 degrees paced and outer or long term 20 / 30 Degree lines.
When there is no news the market slows down and creates areas of support and resistance. On these days the market usually consolidates goes sideways and meanders like a stream moving inside channels.
When the market breaks a trendline it does this by creating a candle stick formation. As we all know there are three main candlestick formations for up and then down as follows:
- Morning Star / Evening Star
- Bullish and bearing Engulfing
- Tweezers tops and bottoms (but these MUST have long wicks at the bottom
Trade of the Day
As you know it gets quite frustrating when you trying to compete and you get involved in a trade and the market slows down. Then you feel there may be a stronger fundi coming out later on another pair and need to cancel that trade, After all it is a contest. The big trouble I am having is how to keep my orders quality points up. Sometimes I want to move my take profit and get more pips and sometimes cancel the trade to get a better one. Can anyone comment below and help me here.
So yeh I posted my trades today and already cancelled one CADCHF - which was a great trade but as we are competing I want more pips so I cancelled it and sold GBPAUD as it offers 100 pips today and technically 200 pips into tomorrow before shooting up.
This is a basic overview I will continue to post on my Blogs and update for good trades and will try and include pictures when I post them.
All the best.
Giorgio
