trading psychology
Sep 26 at 15:33
23 개의 뷰
1 Replies
Feb 12, 2022 부터 멤버
게시물6
Sep 29 at 11:32
Books will not give you anything, the best way is you trying it out yourself.... or some experienced trader guiding you initially....
The Rule is - Assume you are always wrong... so that you won't open bigger lots!!
Try a Demo account for 6 months…and then open a YEN live account. Yen account will give you good amount of digital deposit or else in 3/4 weeks your account will be busted.
Observe the market for 6 months on a demo account.
Analyse all currencies of your choice by reading expert posts, indicators for direction on myfxbook, investing.com, tradingview.com etc
Then open two or 3 trades in the direction of the last 4/5 days in that demo account, whenever it reaches the lowest (Buy) or the highest (Sell) point. Let them play out for 7 to 10 hours, once closed then only open 2 or 3 more.
If you have a 10,000 account in a demo account then open 0.5 to 1 lot sizes in currencies and .25 or 0.5 on XAUUSD at any given point of time. You should not have more than total 3/4 Lots opened at any given point of time.
Note that 0.5 XAUUSD on a highly fluctuating day will move -3000/+3000 and 1 lot currencies will move -700/+700, so if you have 3 wrong trades in XAU/USD of 0.5 lots with no stop loss… your account of 10000 will get busted.
Open a highly leveraged account 1:500 or 1000 or 3000, this will help to have more free margin but control this leverage by 3/4 lot sizes opened (max) or 2 / 3 trades opened at one time.
Each currency moves from low to high in 4 to 12 hours everyday and rest of the times they in between…always observe which currency moves at which time.
The movement of currencies are generally tied to the Economic calendar events of 2 and 3 star impacts. You can see this calendar on the above mentioned sites.
Depending on the currencies, Times to open trades are as follows...
1 am to 2 am GMT +1
6 am to 7 am GMT +1
2 PM to 3 PM GMT +1
8 PM to 9 PM GMT +1
Generally if a currency pair starts moving at 1 am GMT +1 it will end its move by 7 or 9 am. Generally the currencies move in groups i.e. all JPY pairs move at the same time, EUR/USD + GBP/USD moves at the same time, within currencies that pair with USDs e.g. USD/PLN, USD/MXN, USD/NOK sometime move at the same time or move one after the other and this ties to 2 and 3 star impacts of the Economic calendar.
Generally any two of the three sets will move at the same time i.e. If EUZ/NZD and EUR/AUD moves then AUD/NZD will be stationary and will move after 8 to 10 hours
i.e. if CCY1/CCY2, CCY3/CCY2 move then CCY3/CCY1 will move after 8 to 10 hours
Eg
GBP/USD, EUR/USD, EUR/GBP
USD/JPY , GBP/JPY, GBP/USD
USD/JPY, CAD/JPY, USD/CAD
EUR/NZD, EUR/AUD, AUD/NZD
USD/NOR, USD/SEK, NOR/SEK
If you see USD calendar 3 stars at 1 pm and 8.30 pm GMT +1… then a trade around 8.30 pm
If you see USD 3 stars impact only at 1.30 pm GMT+1 then trade around 1.30 and wait till the next day morning.
If any of you need more guidance please contact me. I wrote my own software. I can help/guide you on a demo account with no charge(no fee).
The Rule is - Assume you are always wrong... so that you won't open bigger lots!!
Try a Demo account for 6 months…and then open a YEN live account. Yen account will give you good amount of digital deposit or else in 3/4 weeks your account will be busted.
Observe the market for 6 months on a demo account.
Analyse all currencies of your choice by reading expert posts, indicators for direction on myfxbook, investing.com, tradingview.com etc
Then open two or 3 trades in the direction of the last 4/5 days in that demo account, whenever it reaches the lowest (Buy) or the highest (Sell) point. Let them play out for 7 to 10 hours, once closed then only open 2 or 3 more.
If you have a 10,000 account in a demo account then open 0.5 to 1 lot sizes in currencies and .25 or 0.5 on XAUUSD at any given point of time. You should not have more than total 3/4 Lots opened at any given point of time.
Note that 0.5 XAUUSD on a highly fluctuating day will move -3000/+3000 and 1 lot currencies will move -700/+700, so if you have 3 wrong trades in XAU/USD of 0.5 lots with no stop loss… your account of 10000 will get busted.
Open a highly leveraged account 1:500 or 1000 or 3000, this will help to have more free margin but control this leverage by 3/4 lot sizes opened (max) or 2 / 3 trades opened at one time.
Each currency moves from low to high in 4 to 12 hours everyday and rest of the times they in between…always observe which currency moves at which time.
The movement of currencies are generally tied to the Economic calendar events of 2 and 3 star impacts. You can see this calendar on the above mentioned sites.
Depending on the currencies, Times to open trades are as follows...
1 am to 2 am GMT +1
6 am to 7 am GMT +1
2 PM to 3 PM GMT +1
8 PM to 9 PM GMT +1
Generally if a currency pair starts moving at 1 am GMT +1 it will end its move by 7 or 9 am. Generally the currencies move in groups i.e. all JPY pairs move at the same time, EUR/USD + GBP/USD moves at the same time, within currencies that pair with USDs e.g. USD/PLN, USD/MXN, USD/NOK sometime move at the same time or move one after the other and this ties to 2 and 3 star impacts of the Economic calendar.
Generally any two of the three sets will move at the same time i.e. If EUZ/NZD and EUR/AUD moves then AUD/NZD will be stationary and will move after 8 to 10 hours
i.e. if CCY1/CCY2, CCY3/CCY2 move then CCY3/CCY1 will move after 8 to 10 hours
Eg
GBP/USD, EUR/USD, EUR/GBP
USD/JPY , GBP/JPY, GBP/USD
USD/JPY, CAD/JPY, USD/CAD
EUR/NZD, EUR/AUD, AUD/NZD
USD/NOR, USD/SEK, NOR/SEK
If you see USD calendar 3 stars at 1 pm and 8.30 pm GMT +1… then a trade around 8.30 pm
If you see USD 3 stars impact only at 1.30 pm GMT+1 then trade around 1.30 and wait till the next day morning.
If any of you need more guidance please contact me. I wrote my own software. I can help/guide you on a demo account with no charge(no fee).
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