hello all I have decided to start a thread on all my trade. I trade Forex, hope people can comment on my trades and charts. I am not profitable, but I am determined and definitely want to become profitable.
So first post. 3 Pairs I am looking to sell. USDJPY Daily https://www.tradingview.com/x/tTOgY2lo/ Hourly https://www.tradingview.com/x/QPdLJlNw/ EURAUD Daily https://www.tradingview.com/x/P25RcyRE/ Hourly https://www.tradingview.com/x/rKMyG8lr/ EURNZD Daily https://www.tradingview.com/x/uYpdyaOG/ Hourly https://www.tradingview.com/x/vEv3uUr2/
I have to say that this was exactly my instinctive reaction to those charts and annotations, too; sorry.
This is where you went wrong. You are competing with not only institutions but foreign govts, largest banks in the world, etc.
most of the times (unless one trades something extremely exuberant or where there is no market) it does not matter what instrument one trades, what matters is how he trades it
my method but we talking about your method (or rather luck of it) one have to start with something... we all starting with whats done before us, and continue to develop by building upon it lets assume that classical TA works, based on that TA you indicated support and resistance lines on your charts, so why do not you try to trade off them? like here: https://www.tradingview.com/x/P25RcyRE/ why do not you try to buy on support, or sell on resistance ? instead you trying to catch-up the accelerated trend on his approach to support
I'm doing it wrong then? Look for strong daily trend, then enter on lower time frames on a support turn resistance/resistance turn support? I'm not sure but I am not a big fan of buying on support but rather a resistance turn support vice versa. The trend is definitely down and looking to continue so I enter on a lower time frame to maximize risk reward? Since that seems to be a high probability short until that triangle support, instead of buying it, which looks like it will break.