10 pips a day
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Thread: 10 pips a day

  1. #1
    Hi fellow traders,

    I'm Eureka and I am a professional trader since September 2008. My goal today is to become a consistency profitable professional trader. Till today I have been consistent in blowing live accounts. . I have blown 2 live accounts . . That is my third reside account and this time that I don't want to blow it this time.

    Like I have recognized after blowing accounts my primary problem was that I wanted to make a killing in Foreign Exchange market in a very short time that also with a rather low account balance.I used to leverage my rankings which was the primary reason of getting margin calls.

    So this time that I have set my goal as to earn only trading a miniature lot on a 1000$ account. I know if I do this always I will double my account within 100 days. And thats more than enough for me personally. . My chief aim is to do this consistently. . My aim this time is not on to make money but to be more consistent and disciplined.

    My trades will be based largely on S/R. . And sometimes gut feeling

    I have started this journal so I can post my trades and write down my egy, emotions happening in my mind while taking a trade, and later on I can analyze my trades and learn from it.

    Any suggestions out of amazing traders here is always welcome. .

  2. #2
    Good idea, taking larger time frame sup/res, your 3693 area is a good idea, but always be ready for price to stall just below or over a recent sup/res.
    What time frame are you using for entry, in this scenario, I seen that the short installment at 3688 area, and required that trade.
    Did you enter this area?
    Good Luck.
    J

  3. #3
    Now my confidence in the above mentioned trade is low as market reversed just 3 pips before my target. .

    But I will take this trade if market comes there. .

  4. #4
    Hi N2FX,

    You were right as market only stalled below my goal area. . I utilize S/R on 1 hr and above charts. . on majors mostly.

    How can you arrive to that 1.3688 amount as S/R please post your chart. .

    Thanks. .

  5. #5
    I exchange the EU specifically, also have seen this place many times. I took the brief based on a tick chart in anticipation that this would stall at your resistance area.

    Everything I try to do is find places of interest, such as your own doing, hour or 4hour, then watch the price respond when those areas hit.

  6. #6
    Good exchange N2FX,

    I believe that trading just S/R on 1hr-4hr charts will make me achieve my goal of earning 10 pips consistently. . . So no longer I will look for systems, approaches, EA's. And I will concentrate just on majors..Only S/R from today on.

  7. #7
    Quote Originally Posted by ;
    Good trade,

    I feel that trading only S/R on 1hr-4hr charts will allow me to attain my aim of earning 10 pips consistently. . . So no longer I will search for systems, methods, EA's. And also I will concentrate only on majors..Only S/R from today on.
    Once you pin point those areas which are such as magnets, find a time frame just like 1 min or 5 min which you can spot where the rejection occurs, I use to take trades dependent on the line to find myself in a trade too premature.

    There are patterns and formations that form on every time period to give you the cutting edge to make those 10 pips. I've taken 2 transactions since this amount at 90 was attained, already grabbing 17 pips on the one level, and those transactions were based on the rejection formations under the resistance area.

    Will keep up with you, work hard and earn some fantastic cash.

    Cheers,

    J

  8. #8
    Just went eur/usd at 1.3591 sl:3583 tp:1.3610


  9. #9
    Moved stop loss to 1 pips. . Fearful that if it boils and choose my stop loss.

  10. #10

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