Hi Sir! its Alex from www.FXPIP.ONE * For us very important that you started to learn all EA parameters and strategies at this page: https://www.fxpip.one/soft/robot-mgp * Download robot MPGO latest version https://www.fxpip.one/latest-version-ea-mpgo/ * Free Vidoe Course about FXPIP Robots: https://fxpipone.teachable.com * Youtube Channel: https://www.youtube.com/user/fxeadoam/videos * Telegram News Channel: https://t.me/profitFXPIPs * For Partners that like to resell our Soft: https://www.fxpip.one/partnership * All important updates posted at SIte also in News blog: https://www.fxpip.one/category/news/ FOR CLIENTS : This summer our Clients that purchased EA also can have 20 real account licenses under our IB Broker : Lifetime License at Roboforex ( https://my.roboforex.com/en/register/?a=mdhn ) . For this open real Cent or Standard account from link or mdhn partner code and send mail at Support@fxpip.one with account number and Text "1 Free Real License under your IB". In this way we let you try to feel to be a part of FXPIP partner and Resell our Soft : https://www.fxpip.one/partnership/ NOT FOR CLIENTS : Only this Summer You can receive 1 Free MPGO EA Real Account Lifetime License at Roboforex ( https://my.roboforex.com/en/register/?a=mdhn ) . For this open real Cent or Standard account from link or mdhn partner code and send mail at Support@fxpip.one with account number and Text "1 Free Real License under your IB".

so anyone can tell me what can I do now?

The third point I will make for now is my personal experience and might not be that universal: Widen your stop loss! I have been very guilty of trying to take a trade with a very optimistic SL and a larger than otherwise lot size, hoping that the price will only move in one direction. Unfortunately most of the time this is not how the market moves. If you have your SL at a reasonable and calculated level, then if the price hits it, there is a good reason for it and the trade was probably bad. It will be so frustrating for both your mental energy and your bankroll if your SL is hit and the price then moves in its original direction. Make sure there is enough wiggle room for this to happen. Let me know your thoughts, if this is popular I may follow up with a part two. Thanks, Happy trading!

This will be different for some people and different for varying strategies. For me, there is no point trying to catch a reversal right at the top or bottom. The chances of this are slim. It is so much more fruitful to capture the main bulk of a trend rather than trying to guess the tipping point. The meatiest part of a fish is the body, forget about the head and the tail. As well as waiting for a good entry, wait for a good trade set up. If there are no good trades, leave the screen and enjoy your day. I think one losing mentality is that money needs to be made now. On the contrary. Zero trades is a whole lot better than five bad ones.

The second point on my list ties into the first somewhat: Stop closing trades early! Again, patience is key. It is so easy to see some profit and think that the price is about to go against you. Leave it and see what happens. Perhaps move your SL to break even if this works for you and if the market has retested another resistance etc. but most importantly leave your TP where it is. Hopefully there is a reason you put it there in the first place? Trust that. There is nothing more frustrating than closing a trade early and then watching the price continue in that direction afterwards. Some people like to have 2 or 3 TPs. This is fine but know this before hand and not as an excuse to take some early money. Part of the reason for this point is because I have found I would never seem to want to close losing trades early, so over time this bad habit would become a very expensive one.

Take Profit methodology Risk:Reward ratio. Take the SL, and multiply by a given factor. Fibonacci Levels. Typically, when entering divergence based signals on higher timeframes, you will be at the tail end of a Fibonnaci retracement, and TPs can be based on the usual levels. The strategy can be utilised across multiple time frames. For trading on higher time frames, there is a strong argument for building into your positions. i.e. When price moves in your favour by a set amount, add a position at the current price, and move the SL to the last entry level. Process can be repeated several times, up until the movement has exhausted.

I have been dabbling with Forex for a few years now, and have started taking it more seriously over the past few months. I feel that I have come a long way and I would like to share my thoughts on what I have found. It would be interesting to see if anyone agrees or disagrees or has come to any similar conclusions. The first point on my list and perhaps the most important: Patience, patience, patience. This is heard everywhere but remains extremely important and also covers a few points. For example; Wait for a good entry! Think you have a 'sniper' entry at a trend line or on a support level? Wait! Think the market has started moving how you anticipated? Wait! Think the market has given you some confirmation for your trade? Probably still too early! Think you've missed your opportunity? Now you're getting closer to a good entry.

This will be different for some people and different for varying strategies. For me, there is no point trying to catch a reversal right at the top or bottom. The chances of this are slim. It is so much more fruitful to capture the main bulk of a trend rather than trying to guess the tipping point. The meatiest part of a fish is the body, forget about the head and the tail. As well as waiting for a good entry, wait for a good trade set up. If there are no good trades, leave the screen and enjoy your day. I think one losing mentality is that money needs to be made now. On the contrary. Zero trades is a whole lot better than five bad ones.

When the first 2 indicators provide a signal within a given window, for example 5 candles, the trade would then be confirmed using principles 3 and 4. Stop-Loss placement has been utilised using one of two formulas. Swing High/Low - For a long position, take the x candle swing low as the SL. ATR (Average True Range) - Take the entry price, and in the case of a long, place the SL at a set multiple of the ATR below the current price. There is value in using different ATR time frames than the time frame currently being traded.

Sticking with a profitable trading strategy can be tough, but with a predefined set of rules to follow, it can become much easier. The strategy described below has been consistently yielding profit for the last 6 years, and worth giving a punt. Strategy has been applied to several FX markets (USDCHF, USDCAD, USDSGD, EURJPY, EURGBP) and Gold (XAUUSD), and also has relevance in equity trading. Only the general idea is provided here, and profitability relies upon finding the right indicators for each component.

Volume Divergence i) The indicator should have a smoothing aspect to filter out the noise within the volume movements. ii) Ideally, you want the indicator to plot the divergence (hidden or classical) for you, but if not, you can visualise yourself. Trend Divergence i) This indicator should be based upon a wave analysis of the price action movement. Price Action within markets typically follow a cyclical pattern (not all of the time of course). Trend Bias i) Ideally a zero-lag, or lag reduced, trend indicator that gives a fast indication of where the current trend in the market is. It's not so important that this indicator is correct 100% of the time - only used as an additional filter. Price vs MA i) Current position of price (i.e. above/below) with respect to a predefined moving average. We have found success using LWMA with periods ranging from 26 to 150.

The best way to learn to trade is to trade. It is also the most expensive if you don’t first understand some basics. But where do you guys learned how to trade forex? Can you share it with me?

Profit gap or implementation gap - I have much less of a profit gap (the difference between what my system gives me and what i actually got) than last week. I look forward to hearing about your trading psychology insights if you would like to post them. I think self awareness is one of the keys to this trading psychology stuff and this thread might help. Thanks! :)

Here's mine: I am on the edge of a winning streak, so trying to remain stable, rather than become overconfident and reckless. I want to be a consistent winner, not just a "boomer and buster". Part of that is avoiding the winning streak -> become reckless -> losing streak cycle. Not compulsively checking my trades. I have this kind of urge to check my trades even though there is no need to. I'm becoming more aware that that drains my energy, and feeds an addiction to random rewards on a smaller scale. Whether my trade is a few more or less pips in my favor, I get a little "hit" from that. So today I only checked the charts when it would be necessary for trading purposes.

Fear causing me to leave money on the table - Earlier in the weak I did have a little drawdown, which I reacted to by closing trades in slight profit, instead of hanging in to my full TP. However, my full TP would have been reached. I did it a lot less than I used to a few weeks ago, so I tried to see the progress in it. Then today, I had a profit target that was 5 pips shy. I had an urge to close it right then but stopped myself. It went all the way to my TP moments later. So that was a sign I am learning from the previous mistakes.

How useful is it?? Could you possibly do technical analysis on strength to predict times when it will be high/ low??

Hi everyone, I am learning about trading psychology now and finding it very interesting. I'd like to hear about how your trading psychology was today. The purpose is to help each other gain self awareness. Sometimes when someone else tells whats going on with them it helps you realize something about yourself you might not have seen before. A suggestion is you could check in about any of these fears and how they're affecting you: Fear of losing money, fear of being wrong, fear of missing out, fear of leaving money on the table. (There might be others too) Or you could check in about how you feel about your trades today/this week, or whatever else you want to say. Are you satisfied with your trading? Why or why not? Etc.

Lets wait for the opportunity.

I created this thread to have a laugh with other traders, during the first half of my learning process I have trusted a few gurus with signals that ended up just being people writing fake testimonies with bots , this one trade on AUDCAD was a complete flop and he make bots say how much money they got from the trade meanwhile everybody in the chat took a big L😂 what are some funny stories that you guys have?

Just want to see how many people can relate to this. I personally trade on the 1H and 4H charts and stick to the major pairs, last week there were strong trends across a lot of the pairs and trading was good, but I'm getting stopped out on almost every pair this week because everything seems to be in a reveral or going sideways? Does anyone else feel like the market conditions are not great this week?