8 Free Forex Trading Signals For Sept 4 – Sept 8 2017
How did these charts play out?
AUDCHF – Price consolidated throughout the week
AUDJPY – Price consolidated throughout the week
CADCHF – Price broke through resistance for 66 pips and slammed back below
CADJPY – Price ran for 80 pips before rejecting at resistance
CHFJPY – Consolidation
EURGBP – Price pulled back into target area but no trade setup
EURJPY – Sideways price action
GBPUSD – Strength was still in this pair as analysed and ran for 180 pips to the upside.
As the summer months are coming to an end, I wasn’t expecting too much in the way of moves this past week. Just over 600 pips on the charts I posted which is still a good week.
It doesn’t matter how you approach the markets as supply and demand are the driving forces. Currencies are a little different as the main driver is interest rates in Forex and the “economy” of each country. Find where there is a potential imbalance and capitalize on it. You can gain a lot of pips by trading trends.
Price action and the structures it leaves will always give you clues on which side is stronger. Our job is to latch onto that by understanding where price currently is, what the potential move may be, and find ways to get involved.
It is that simple. Just not easy.
Check out last weeks by clicking here.
AUDCHF
AUDJPY
CADCHF
CADJPY
CHFJPY
EURGBP
EURJPY
GBPUSD
Hi SD, its me again. How do you provide for or mitigate the effects of Non Farm Payroll (NFP) in your trade? Some seasoned traders who trade the lower time frames do not trade at all when it is NFP day.
Thank you in advance.
I don’t worry about any release since I am not involved in day-day market fluctuation trading. In fact, as shown on the weekly chart of the USDCAD I posted (which played out beautifully) these news releases can drive your trades into large profits quite quickly.
Of course the opposite could happen but keep in mind that these rarely change the overall market direction.
When I used to day trade….I sat aside until NFP, FOMC, and highly rated number releases were set. Some will try to scalp the release…but no thanks.
Good question.
Thank you and hapy new year!
The euro chart helped me. I traded break of breakout 1.1905 and took profit at 1.2055 when price can’t break right now. nice way to start the year of 2018 SD.
That is great Willim. I think it’s great that you saw the consolidation at highs and took profit. Sure it could break…but take the easy ones especially if it is a multiple R winner.
Hi SD, I surely hope you are enjoying your holidays. Tell me about leverage. Do you worry a lot about having the highest leverage possible?
What leverage do you use?
Thank you in advance for the wonderful blog you are writing and I really find your setups very useful. In fact my trading is based on your weekly setups.
Hi Shingi. Love holidays but being in Canada, the cold can be a bit of a downer.
Leverage in FX……I use 10:1. We are risk managers first and leverage by itself is not the issue (it’s only a tool)..it’s the trader that is using it.
Thanks for the blog comments. I am glad you find value.
Happy new yer SD. Thanks for all you do. Long EU and AU tks to these charts. Learning alot
That’s great to hear Bryce.
Hi SD, I did not get an email regarding the trade setups for the week Jan 1 to Jan 5. I have also checked on the site and the last set ups were for the week Dec 25 to Dec 29.
Are you taking a break?
I posted weekly charts on the last update for a reason. Longer term patterns where you could have used our daily or lower charts to snag a trade over the holiday. From USDCAD shorts to EURUSD longs, most had a playable move. My personal trade plan doesn’t enter new trades the first week of the New Year so I don’t really look at charts until weeks end. Glad to see you are missing the updates!! 🙂
Hi Team,
I don’t know whether this site is run by single person / team.
This site is run by one person. More or less of a hobby and my way of paying forward for all those who helped me
I just want to ask you one question???
Do you trade based on what you mentioned in your site whether it may be indicator / price action / major support & resistance. What is your way of trading???
If you go over many of the charts found in the free Forex setups, you will see an overview how I approach the market. Simple patterns that have a statistical edge in any market. The full answer to your question would be my entire trading plan which I don’t give out. Too much time….too much testing. I can say with confidence that most things don’t work over time as in…no statistical edge.
Your prompt answer will be highly appreciated.
-Deepak
Tough week SD. I watched Aussie on support and traded the doublt bottom peak break when a short was not happening. I had other setups as well as these I was looking at. I may roll up the carpet until 2018 Have a good holiday and keep up the good work. I appreciate what u do here for free.
It certainly was a tough one in terms of resolved setups. I expect this type of more random price pops this time of year. Thanks for your comments. I’m happy your are getting use of the site. Have a good holiday yourself!
It’s swing trading so yes, a long was appropriate. Please send me your 100% accuracy. I’ve already invited you to send over your before charts.
I didn’t take it down. I didn’t approve your rambling. I actually responded to some of your comments in this blog post:
https://forextradingstrategies4u.com/selection-comments/
…AND it has rallied UP 150 pip from where it had fallen to. It was a setup that was posted, not a trade. There was no trigger. I’ve already invited you to send over your before charts. Please send me your 100% accuracy.
It could. It could do a lot of things.
How about doing your own work instead of piggybacking off of others?
Don’t you have any fresh trading ideas of your own?
Do you have your own idea on how to get involved in that short?
No, not everyone is suggesting short positions: https://www.fxstreet.com/rates-charts/eurusd/forecast
Oh look, someone else saying to buy dips: https://seekingalpha.com/instablog/48863960-helen-rush/5086485-eurusd-still-good-buy-dips
As mentioned throughout this blog, I will certainly entertain short trades even in an overall up trends, like the EURUSD, but need the proper setup to do so.
What you need to understand is that a setup is not a trade.
What you need to understand is that most people are smart enough to realize a setup without a trigger is not a trade.
You confuse the two.
“Lose big” is hyperbole and ignores risk management and position sizing. You can’t lose on a setup. It’s not a trade. Why do you continually ignore that obvious distinction?
Chew on this….go away but before you do, please send me your 100% accuracy. Original work only please.
The chances are you are a failed trader and you can’t grasp the fact that others can succeed.
You no doubt have zero trade plans, zero idea about expectancy, zero idea about risk controls and clearly don’t understand the difference between setups and trades.
One look through all the charts ever posted on this site will show that some setups trigger.
Some don’t.
Some fail.
Some don’t.
You still think win loss is indicative of the overall success of a trader which shows a lack of fundamental understanding.
Instead of cruising websites and getting the itch to stomp your feet in the comment section, do something more constructive….like send me your 100% accuracy.
I’ve given you enough space for your soapbox comments. All you’ve done is come here and spout off without a shred of evidence you know anything except what you read elsewhere and criticize. I’ve invited you to send over your charts and you’ve not done so.
Those who do, do. Those who don’t, feel the need to beat their drum in the comment section of someones blog who, week after week, puts their trading thoughts online…right or wrong.
Fundamentally, you don’t understand what swing trading is. I highly doubt you know much about trading other than what you’ve read in books.
There will be no more responses to you.
Incredible response. dude doesn’t understand trends are in different time frames. I dont see anything worth trading on the euro. I cant post a chart but I see the supply line broke in mid Nov and shorter term demand line broken at begin of December and now in a downwards channel. on the monthly chart i see a range at highs. my last euro trade was long from Nov 9 using entry pattern that you use and exit close of Dec 5 when demand line violted. i been visitng this since beginnning of the year and learned from this. Thank you sd
Thank you Stephen. You can send over a link to a chart you post up using Jing.
Rob….if you are still reading this…..I hope you are seeing how wrong you were. Seems like “EVERYONE” that was talking about shorting to 1.1630….were a little off. Guess that would make me better than the “EVERYONE” you were hanging your trading on. I’m sure you’ve see that the day you posted your comment (Dec 15), price started the rally.
Sir, thank you for taking the time to answer my email. In regard’s to the NZDCHF I was referring to the price rejection in the .6800 area, upon further review and recent price action this is in fact not a triple top just minor resistance. Thanks again and I look further to future articles and potential set ups.
Check my comment about those price structures here: https://forextradingstrategies4u.com/trend-take-profit-targets/
Hi SD,
When you set your take profit target in a trade, do you consider the S/R or R:R or both depending on which one is nearer to the entry point.
Answered the question in a blog post: https://forextradingstrategies4u.com/trend-take-profit-targets/
Hi Sd,
As always thanks very much for the informative site. I am really learning a lot and I hope to be one of the best traders in future through knowledge gained from this site. My question is: Why do you disregard ‘the trend’ when swing trading? Is not always better to ‘trade with the trend’?
Answered the question in a blog post: https://forextradingstrategies4u.com/trend-take-profit-targets/
SD, I’m very pleased to have stumbled upon your site, great analysis and insight. I found myself with the same observations as you, with the exception of NZD/CHF and USD/CAD, the NZD/CHF in particular looks like a triple top and the USDCAD pulled back 20 pips shy of the 1.2900 resistance zone. Do you consider these valid observations and potential set-ups? BTW, I shorted USDCAD at 1.2870 using the 4hr bullish rejection, after all close is close enough and no ranges are perfect. Your thoughts please.
In regards to the the USDCAD, price simply coming to resistance doesn’t give me any trade. If you look at support on Dec 5 and in my blog post for a live trade long https://forextradingstrategies4u.com/usdcad-trade-entry-example/ I need to see price action or building structure to get a trade on. I’ve scaled out a 1R and have no risk in this trade and at this writing, up 175 pips
I don’t know where you are looking at NZDCHF. What time frame?
Thank you sd for the GBPCAD note abt longs still ok. i used the failure test entry and put buy stop above reversal candle 1.7090 and now up over 220 pips. Also audjpy 85.3 and closed today when big red candle didn’t keep going. I took 58 pips on that.
You’re welcome. Also take note that the strong reversal on the GBP cross takes shorts out of the equation for me. We did get the momentum down and for the short, we would have needed a lower interest pulllback/consolidation. This was strong and the failure test entry was the perfect setup/trigger. Good for you! It was also a similar setup on EURCAD. Thanks for the comment.
Hi Shaned, Ray,
Does the multitimeframe trading work only on trendline bounces, support/resistance levels and fib retractment levels when you use reversing candles as signals for entry into a trade ?
No. Lower time frames are great to use when price is sitting at a higher time frame setup. An example would be a bull flag on a higher time frame chart and the lower time frame shows a strong breakout to the upside from a consolidation pattern.
9 set ups for the week and almost all of them have drawn back against your prediction at least 30 points. show your win loss ratio. guys like you give trading a bad name
You’re closed minded and clearly don’t have a mindset conducive to trading. Start with Trading In The Zone plus understanding probabilities and expectancy.
Feel free to send over your before charts. Looking forward to seeing them and we can go over the resolution in a blog post.
If you think I am predicting as opposed to following price action/structure, you are misinformed.
If you think win/loss ratio is key to trading, you are misinformed.
If you think adverse price action against a setup is anything other than a trade not taken, you are misinformed.
If you think 30 “points” has any meaning on a daily chart setup, you are misinformed.
the guy picks one week and has nerve to be stupid like that? bet he didn’t make comment on the weeks where price worked fast.
what do you do when price does not go like you thought?
🙂 It takes all kinds to make the world go around. It doesn’t faze me in the least.
In answer to your question, patterns fail. Until they fail they are still valid. An example would be a bull or bear flag. Lazy pullbacks are fine and don’t invalidate the setup. Strong momentum against the setup will invalidate the setup.
These setups were incredible. I wish you had a mentorship. Thanks for all you do and i am learning a lot.
Hi, tks for you help, Do you offer service that give entry and exit.
You know, why would you risk your money on an entry given by someone with a service? You have no idea about the long term expectation of their strategy. Best thing? Learn to trade. Find a trading strategy on this trading blog..and test the hell out of it. Become your own service provider.
Hi Sd, thanks once again for a wonderful and very informative blog. Here is my question: when a possible trade has lined up and then you see that the risk to reward is less than 1R do you still take the trade?
Great question and I’ve made it into a blog post: http://forextradingstrategies4u.com/reward-risk-ratio/
Thanks for sharing setups for the week. Awesome range to analyse. Cannot ask for more than this
Thx for sharing these classic set ups one again – – see how we all go
Hi, I understand these signals are suitable to be traded in the day time frame. Can you not trade in the 4H time frame to get an early entry?
Yes…and that is exactly what happened with the NZDUSD. Take a look at the chart I posted in the weekly setups….and drop to the four hour time frame. I also wrote about it here.
Hi Guys, Thank you for the good work you are doing. May God bless you many times. I have a quick question for you: What is a bear flag and a bull flag and how does one recognize a bear flag or a bull flag?
Flags – simply consider a pullback in price a flag for simplicity sake.
Hi First time on this site. Thanks for the insight for the market this week. Lets see how it plays out.
Thanks for coming. They will play out…….as they will play out. Price action/structure will give us clues and then price action showing where the strength or weakness is will give us our trade. Look back over the many months I’ve been posting and you will see that sometimes they play out perfectly. Other times, developing price action during the week will change the outlook. Enjoy!
every time you post like why dont you include the arrow direction sometimes its not understanding i mean put the arrow give us the direcction with arrow upp or down its better that way when talk about the trades . bullish or bearish arrow
Why do you need arrows? It’s written right on the chart.
Good day Shaned. Today is the first time I am visiting this sits since I wrote last. It is unfortunate that you got me very wrong. In any case too wrongs they say does not make a right. I am very very sorry to have offended you in any form. I repeat, I am sorry. I felt sorry to see that you got so angry as to lash at me the way you did. I hope you will forgive and forget. I saw that you are doing a wonderful job and many are profiting and I was very anxious to be part of the beneficiaries. Be of good cheers. Thanks.
No worries. Enjoy the site.
Hello, i cant see this week setup,something am doing wrong? i only see the headlines of nov6-10 but no signal
If you are entering your email to unlock the setups and it is not working, the trouble is on your end. Delete cache and cookies
Excellent site! Cant actually believe youre giving away such forex tips Thnaks
Quick question/comment- you use a lot of ‘forex jargon’ for a layman like me.
Is there anywhere that I can get more familiar with such language used in your chart tips?
Thanks for the words. I’m not sure what you mean by “jargon”. Which terms do you have an issue with?
Hi to all,
I am new to forex ,plz help
That’s a vague request. A good start however for somebody new to trading in general is to read every single blog post on my site.
I would also watch and log every setup that I post for free in my weekly Forex setups and learn from them as well.
Hello,
I have the same problem with Opera – no charts are in focus even after emptying cache. The site requires me to re-enter email and leaves charts unfocused. Any suggestions?
Couldn’t tell you what the issue is. Have you tried using a different email? Sometimes, the service I am using to hold the emails nails one as being “spammy” for some reason.
Hi, I m from Turkey, Can you give a chart for USD/TRY?
Sure. Take a look here: http://forextradingstrategies4u.com/usdtry-still-want-upside/
Am new on this blog but am getting insights from the comments and advises.
Hi, I have a quick question, what do you mean when you say “position sizing to reduce your risk” when you see that you are going to have a big stop loss level?
Not necessarily a larger stop loss in terms of distance. It can also mean risking a smaller percentage of your account on certain trades.
THIS IS MY THIRD TIME OF COMPLAINING. I SUBSCRIBED FOR LONG BUT HAS NEVER GOT YOUR E-MAIL. AS USUAL I GOT INTO YOUR SITE BY ACCIDENTAL POPUP ON MY SCREEN. PLEASE KINDLY DO THE NEEDFUL, SO THAT I WILL START PROFITING LIKE OTHERS. THANKS.
1. Please refrain from using all capital letters
2. If you signed up using the form on the side of this blog, you are in our system. If you are not receiving our emails, the problem is on your end.
3. Take a step back and regroup. Complaining about a free resource is silly and disrespectful.
I do not get paid for this blog nor for the work I put into it. If you are unhappy about my free resource, nobody is forcing you to come here. Thinking you are entitled to anything from me is the wrong road to be on.
I have visited many sites but nothing good to get out of those site but this site has given me everything need to be a trader and all are free as well. I pray that God should extend you life to 150 years
Awesome! Glad you are finding use in it!
keep registering and never recieve any emails.
keep entering my email and all i can see is a blur
??????????????????????????????????????????
I just tried it using your email address and it worked fine
Hello everyone, I am glade that I found this site. I have been struggling with my trading
I am hoping to finally have some success trading forex. I have been trading for about 4 years but with little success. Just wanted to say hello.
Thanks
Ray
Hi Shaned , I hope you’re good…. I read your Price Action Trading Course but I’m really having a tough time to get successful trades. The 30M ATR Breakout strategy you gave is the one that brings me back to life when I’m dead in loss. Although sometimes it has its own failures. I know it will surely take me some donkey years to get to your level of analysis depending on my pace of learning too. But since I memorize and practice daily all Price Action setups you’ve posted provided they appear on graphs, I hope to improve on this tough and exciting journey. However, two things can help to quicken my learning, that is;
1)Which time frames do you often use for reversal candlesticks to confirm your longs and shorts?
2)After which candlestick close must I be sure of and confirm if it’s truly a reversal candlestick? (the second or third? Or there’s never assurance?
Sorry for too many questions. Please find time to reply.
Thanks.
Hey Milton……
1. I don’t wait for confirmation in the usual sense. I will look for an entry on the daily or 4 hour depending on where we find ourselves on the chart. Let me say that sometimes, you just have to get a trade on. Take consolidations for example….if price is pulling back and begins to consolidate, sometimes you may want to get the trade on and use an ATR stop. There will never be a consistently perfect entry.
2. You will only know it’s a true reversal candlestick when price moves far from the candlestick you are looking at. All we can do as traders is look at the probable move….look for a sign that one side is dominant..get a trade on and set our stop.
Read this article…Determine trend….because if you think about it….if I am trading a daily pullback in an uptrend, I am actually looking at a lower time frame downtrend. If I can have a way to determine the probability of that lower time frame trend ending and resolving to the upside…..that is my entry.
Hi, can I ask a stupid question?? What is the difference between a) sell stop order, b) sell limit order and c) sell market order
That’s not stupid. Sell stops are orders set below current price.. Sell limit orders are above current price (as in wanting to short the market at a resistance zone). Sell market orders are orders to sell at the available price. Stop orders, once hit, turn into market orders.
very informative trading ideas from the author.if you have been in the game for sometimes,you will agree with me that with chart analysis posted here it worth more of gold.kudos to the author.you have demostrated your professionalism in a simple manner.thanks a lot.just joined.
charts are all blurry.tried many ways to see if I can fix this,including cleaning browser and cache
I tried with your email and it works fine for me
Thanks man, it’s a pleasure always looking at your price action setups. It helps great deal.
Thanks.
Great David. What are they doing for you? What are you learning from them?
I am so greatful to be part of your team. Your signals are always on spot and profitable.
Honestly, I don’t understand a thing. The graphs does not clearly shows your entry and exit points. The elaborations don’t say much to me are quite vaque.
Hi. First, have you read the following: http://forextradingstrategies4u.com/trade-the-price-action-forex-trading-signals/
These are price action/price pattern trade setups and the entry is dependent on unfolding price action. This is trading. Unless you are using something objective like many of the trading strategies on this website, it will always be dependent on the action.
Example is the current AUDNZD setup. It was a support holding or failing trade. Support held and the entry is dependent on the trader. One trading strategy traders can use in these types of trades is: http://forextradingstrategies4u.com/daily-inside-bar-with-support-and-resistance-level-breakout-trading-strategy/
I’m going to write a blog post about all of this but in the end, you and all traders get the locations and probability of a move…..and use a strategy from this website to trade it.
Mine are blurred also. Doesn’t matter which browser I use. When I enter my email I get this
Oops! It looks like there was an error: There was an error with your submission: There was an error saving the data to GetResponse: [1002] Contact deleted
The system is saying the emails are invalid. Could be banned, or hard bounced, or they’ve had complaints from that email before.
Can I use this trade set ups on a lower time frame like 1hour chart.
Hi John. The setups that are posted indicate areas where there is the potential of a decent move….many times with momentum as we saw in the setups for Sept 11 – Sept 15 2017. You CAN monitor these areas on lower time frames and use one of the trading strategies on this blog when you see the imbalance of buyers and sellers making a shift. Consider those day trades unless price action is indicating a larger move. I must point out that I swing trade the daily charts and will use a lower time frame only if the move is a strong move. On the lower time frame I will look for a slight weakness in the overall direction of the move to get on board. Hoping that helps.
Hello, I’m newly subscribed to your website . I have marked my charts same as yours on Sunday night now I’m seeing a bounce on the support on EURCAD 4H…is that correct? Is it late to buy? TIA Dumi
I don’t use the four hour chart unless I am looking deeper into a singular candlestick. If you are asking if it was too late to buy…it was. Read through my site and understand everything about price action and the setups. Make sure you also read about the setups: http://forextradingstrategies4u.com/trade-the-price-action-forex-trading-signals/
Dear Team,
I have been doing forex before many years but i do forgot it. and i am in some big troubles right now. can you please send me some simple strategies for 15 min,30 min,4 hours candle pattern. so that i can start earning something
If you are in big trouble, don’t expect trading to solve them especially if you’ve already been involved in the markets for years. The last thing you want is to be trading the small time frame charts. If you can’t succeed with higher time frames, forget it when it comes to lower.
Monitor the Forex setups I post http://forextradingstrategies4u.com/forex-trading-signals/
There are many strategies on my site. You have to do the work and find one that suits you. The 1 2 3 price pattern strategy is a viable trading strategy and it was just updated last night: http://forextradingstrategies4u.com/123-forex-trading-strategy/
Gpb/usd broke a channel to the uptrend forming inverted head and shoulder at resistance 1.29700 ,hence price will experience a side waves trend . in which the the break up of 1.2970 will make price move to 1.3030. but for down trend to be established price has to close inside the channel at support 1.2920, then take profit will be at support 1.2840
Thank you for your great site. It ‘s very helpful!
English is not my language and sometimes is difficult to understand the signals.
For example I didn’t understand on CADCHF and AUDJPY if you wait to go short or long…if it’s easy for you please add a comment like: “I’m looking for a buy / sell opportunities”.
Thank you a lot
Have a nice day
Glad you are finding it useful. Buy or sell opportunities should be clear from the chart depending on the setup. Example, AUDJPY is a long trade given the context. CADCHF is hugging resistance and given the higher lows into resistance, I would prefer long trades. I would need convincing bear price action to get me to short. Trading though is more complicated than simply buying or selling. Take a long look through my site.
If you have adds blocking or other filter on your browser can stop the charts to be shown.
Thanks for that!
Aud/Jpy is developing wave count 3 on 4hr charts, with price breaking the neck of an inverted Head and shoulder at monthly chart at 86.12 arround june. price is expected to complete wave count 3 by moving to
89.30
Hi Kayode. I appreciate you chiming in.
I don’t subscribe to EW theory and for price patterns, I mostly stick to horizontals although other patterns can be a great clue. As a matter of fact, many of the top pattern traders such as Peter Brandt and Aksel Kibar now limit themselves to horizontal patterns. They are just more “reliable”.
The only problem when it comes to patterns in Forex is the lack of volume measure that you really need for true head and shoulder patterns. That said, my favorite play when I see an obvious H&S as we do on the chart you mentioned is trading the formation of the right shoulder which began in April.
My approach is to use price to see which side is taking control and to generally stick to the medium trend. Again, not set in stone as one of my favorite plays is the failure test which happened this week on EURUSD which is actually counter trend….although it can set up a trend reversal so in that case it would be a with trend entry. 🙂
At the end of the day…you find what works for you and go for the ride!
Good Day,
No doubt about the fact that you are a professional and you really understand the market movements, but there are high degrees of certainties in all of these price actions depending on what is depicted from monthly to about 1 hour. for instance EUR/USD has developed wolve wave on the weekly chart right from January 2017 with the EPA to be arround 1.2800, this will take a lot of price actions, this is where the big boys profit. Pls I am soliciting that you let me be able to upload my analysed charts ,so that you can assess it and give your verdict
I don’t deal in certainties in trading – I deal in probabilities and risk. On the EURUSD weekly chart that you mentioned, I see sideways price action (consolidation) that began in 2015 and a break with momentum in 2017 July. The common market movement after such a momentum push (probable stage 4) is consolidation. The measured movement of that price pattern puts the target in the area of 2750-2800. Like I said, I have respect that you have put in the work and have found something you like. That “work” is more than what most put in and sets you apart. My verdict is meaningless and the only verdict that matters..or should matter…is you are finding the success you seek with that form of analysis and trading.
i just joined your your site. it is a good development. please be aware that the Aud/Chf just completed Elliot wave on daily chart and now developing a pennant on 4hr chart, price is expected to rebound from resistance 0.7590 to test support 0.7540
I am new here and I can say this site is full of gold. God bless this site.
I am not able to view charts. They are blurred out. I have cleaned cache and tried everything I can think of.
I am assuming you have entered your email address to view the charts. It has to do with your browser. Perhaps use a different one as only a handful out of hundreds are having an issue. Thanks
I cleared my browser cache, registered and everything remains blurry on my browser?
It has to do with your browser. Perhaps use a different one as only a handful out of hundreds are having an issue. Thanks
Hello fellow traders,
I have been trading Forex for some time now, but no profit.
I will be very grateful if any one can help me with any good profit making set-up
Thanks
Joshua from Nigeria
Hi Joshua. Any and all of the setups on this side can be profitable. You are looking in the wrong direction. Setups are not the most important part of trading. Exits and risk management is where it at.
Invest in the right tools to help you see the market more clearly.
That actually is a good idea for a post. What type of “right tools” would you suggest to Joshua? What types of tools do the traders who read my blog use?
Hi, I found the right free tools over time. I have also purchased some. Trend indicator and EA, gives me a indication of key areas and the start of trends. Easy to read MACD for confirmation. I hope this helps.
Thanks Keith. Just remember that any indicator or “EX” are derivatives of price. You may find through intensive quantitative testing that any indicator, except for a few (which includes MACD but not in the traditional sense), offer no real advantage over time.
Hi Joshua, most popular trade set-ups can be profitable but they require strict adherence to the rules. So the first question is, have you been able to get down to a single strategy that’s good for you? Have you been able to master that strategy? Then be disciplined in trading it, sticking strictly with the rules. I believe if you do this you will be profitable.
Great comment Justin and spot on!
The only sincere site, I have come across in this long journey full of wolves and Snakes. God bless you.
Excellent ideas. I use EMA 150 to say up or down trend. Thanks a lot . You are clear. Let`s see what happend this week
That’s a good objective way to measure a trend, in this case a longer term trend. Just remember that moving averages are simply a derivative of price and in the end, price has no interest in what an indicator is showing.
Hi Ray
your signal is only out the focus images and that is for the last 6 weeks.
Why? I am following your site for more then a year and now this…..
explain please
Regards
Claudio
Clear your browser cache and enter your email when asked. That should clear up your issue.
I have to use Google chrome and is working .
Thanks
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