TRADER'S CREDOThe world of trading is filled with risks, challenges, and opportunities. As traders navigate the ups and downs of the markets, it's essential to have a strong set of principles and beliefs to guide their actions. The Trader's Credo serves as a useful reminder of these core values, helping traders stay focused, disciplined, and committed to continuous growth.
The Trader's Credo
1. I am responsible for my actions : As a trader, I understand that my success or failure depends on my decisions and discipline. I will take full responsibility for my actions and their outcomes.
2. I respect the markets: The markets are my ultimate teacher. I will respect their wisdom, learn from my mistakes, and constantly improve my trading skills.
3. I am committed to continuous learning: The world of trading is ever-changing. I will stay up-to-date with the latest market trends, trading strategies, and technologies to enhance my knowledge and success.
4. I practice discipline and patience: Trading success requires discipline and patience. I will follow my trading plan, manage my emotions, and avoid impulsive decisions.
5. I prioritize risk management: The preservation of capital is paramount. I will never risk more than I can afford to lose and adhere to strict risk management protocols.
6. I embrace accountability: I will be accountable for my decisions and accept the consequences. I will learn from my mistakes and use them as valuable lessons for future success.
7. I focus on the process, not the outcome: Trading success is a journey, not a destination. I will focus on the process, enjoy the learning experience, and trust that my hard work will eventually lead to success.
8. I respect others' opinions: The trading community is filled with diverse perspectives. I will respect others' opinions, engage in constructive discussions, and learn from their insights.
9. I strive for continuous improvement: I will never be satisfied with my current level of knowledge and success. I will always aim to improve and grow as a trader.
10. I am committed to ethical trading: As a trader, I will act with integrity and honesty. I will never manipulate the markets or engage in unethical practices.
Conclusion
The Trader's Credo is a powerful tool for traders looking to develop a strong foundation of principles and values. By adhering to these guiding beliefs, traders can improve their skills, manage risk, and ultimately achieve long-term success in the trading aren
Trading-signals
GBPNZD Technical Analysis! BUY!
My dear subscribers,
GBPNZD looks like it will make a good move, and here are the details:
The market is trading on 2.0404 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 2.0434
About Used Indicators:
The average true range ATR plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
USOIL Will Collapse! SELL!
My dear friends,
Please, find my technical outlook for USOIL below:
The price is coiling around a solid key level - 74.00
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' csellonvergence.
Goal - 72.71
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
CHFJPY Massive Short! SELL!
My dear friends,
My technical analysis for CHFJPY is below:
The market is trading on 170.94 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 169.87
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
EURUSD Trading Opportunity! BUY!
My dear friends,
EURUSD looks like it will make a good move, and here are the details:
The market is trading on 1.0948 pivot level.
Bias - Bullish
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 1.1017
Recommended Stop Loss - 1.0913
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
EURCHF Technical Analysis! SELL!
My dear followers,
This is my opinion on the EURCHF next move:
The asset is approaching an important pivot point 0.9324
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 0.9287
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
CADJPY Massive Long! BUY!
My dear followers,
This is my opinion on the CADJPY next move:
The asset is approaching an important pivot point 108.12
Bias - Bullish
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 108.47
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
GBPUSD What Next? SELL!
My dear subscribers,
My technical analysis for GBPUSD is below:
The price is coiling around a solid key level - 1.2735
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 1.2688
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
EURAUD Trading Opportunity! SELL!
My dear followers,
I analysed this chart on EURAUD and concluded the following:
The market is trading on 1.6325 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 1.6253
Safe Stop Loss - 1.6363
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
EURJPY What Next? BUY!
My dear subscribers,
This is my opinion on the EURJPY next move:
The instrument tests an important psychological level 157.77
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 158.28
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
GBPAUD My Opinion! SELL!
My dear subscribers,
This is my opinion on the GBPAUD next move:
The instrument tests an important psychological level 1.8983
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 1.8841
My Stop Loss - 1.9062
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
EURGBP A Fall Expected! SELL!
My dear subscribers,
My technical analysis for EURGBP is below:
The price is coiling around a solid key level - 0.8694
Bias - Bearish
Technical Indicators: Pivot Points High anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 0.8659
My Stop Loss - 0.8714
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
USDJPY Sellers In Panic! BUY!
My dear friends,
Please, find my technical outlook for USDJPY below:
The instrument tests an important psychological level 141.02
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 143.29
Recommended Stop Loss - 139.97
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
BTCUSD Will Collapse! SELL!
My dear friends,
My technical analysis for BTCUSD is below:
The market is trading on 44009 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 43732
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
EURUSD DayPlanGood morning, the plan for the day is strictly long, building liquidity during the Asian session. On Friday, we cleared all possible liquidity below, which allows us to be confident in the continuation of the upward movement. The daily target is the high of Friday. The long context is in sync with all higher timeframes. Priority is given to considering positions from the Asian minimum
VOLATILITY IN THE FOREX MARKETHello Forex traders. Today we are going to talk about the concept of Volatility in the Forex market. We will talk about what it is, what volatility depends on, and most importantly how we can use this data to build and improve our own trading strategies and, as a result, get more profit from trading.
What Is Volatility?
Volatility is the range of price changes from high to low during a trading day, week, or month. The higher the volatility, the higher the range during the trading time period. This is considered to be a higher risk for your positions, but it gives you more opportunities to earn money. Volatility can be measured over different time periods. If we open a daily chart and measure the distance from high to low, we will get the volatility of the day:
It turns out that on the chart above, it was 121 pips.
We can also measure on another timeframe, for example, weekly chart. The distance from the high point to the low point was 162 pips. The total volatility during the week was 162 points. Volatility can be measured within a trading session or within a trading hour. This allows us to conclude that it is a fractal value.
As a rule, the average volatility for the last candles is taken into account. If we take daily charts, the average volatility is usually considered for the last 10 days. Roughly speaking, the last 10 candles are summarized and divided by 10.
What Does Volatility Depend On?
It depends on the number of trades in the market, players, trading sessions, the general state of the economy of a currency, and, of course, on speculation. It depends on how speculative the market is about a given currency. Note that volatility can be measured both in points and in percent. But it should be noted that most often, the volatility of stocks is measured in percent. In forex, it is more usual to measure in pips. If you are told that the average price change of EURUSD is 0.7%, you can easily convert it into pips. And vice versa, you can calculate percentages from points if you need them for any research. Now let's move on to the most important question.
How To Apply Volatility Data For Profit?
It's actually quite simple. As they say, everyone knows about it, but no one applies it. This is especially true for intraday trading. Nobody wants to apply the simplest rule.
Suppose you know that the average volatility of GBPUSD is 120 pips. Question: if the price has moved up 100 pips from the beginning of the day, should you open a buy position? The answer is obvious, we should not. Because the probability that the price will go up another number of pips is too low. Therefore, we should not open a buy position and on the contrary, we should focus on bearish positions. But for some reason people forget about this simple technique and follow their system. I believe that it is absolutely necessary to include volatility, at least on intraday strategies, in your checklist for market entry.
The same can be done with higher timeframes. Let's imagine that we know that GBPUSD has an average weekly volatility of 200 pips. If the pair has moved 50 pips since Monday, we can expect that if the price continues to move down, there is a potential of about 150 pips. Of course, there are days when some movements become bigger or smaller, but we try to rely on statistics. With its help we can calculate the sizes of stops and take-outs. If we decided to be guided by the volatility data and open a sale on the pound, then we would try not to put a large (relative to the weekly timeframe) take profit. Because our expectation within the week is 150 pips.
If the average volatility of a pair is 200 pips, it is silly to expect 1000 pips move. At least within a week. Thus, volatility can also be used for risk calculations. If you have opened many positions on different pairs, you can calculate what will happen if all stop-losses are triggered. Of course, the market is not obliged to obey your calculations, but it gives some support for your convenience and trading.
Volatility-based Indicator
The first indicator is ATR
Average True Range indicator invented in 1972. It shows the average volatility and it is used most often to set targets and stop losses. The value of the indicator is multiplied by a multiplier and thus calculate the stop loss or and/or take profit. The calculations will automatically change depending on the current volatility.
Volatility is higher, take profit becomes higher. Volatility is smaller and take profit becomes smaller.
The next indicator is the CCI
It is based on average price and moving average data. It is used as an oscillator, that is, when it is in the oversold zone, it is recommended to buy. And when it is in the overbought zone, it is recommended to sell.
Another indicator, which is known to everyone, is Bollinger Bands
They consist of a standard moving average and a moving average plus and minus standard deviation, which is calculated based on price. These bands are used most often to determine the limits of movement from the standard average. We can draw conclusions based on this indicator about the end of the movement, correction, etc.
Conclusion
In this article I have tried to give you an understanding of what volatility is in the forex market and most importantly how we can apply it in our trading. I hope that it will help you in developing and adjusting your own trading systems.
Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment
SILVER My Opinion! BUY!
My dear friends,
Please, find my technical outlook for SILVER below:
The price is coiling around a solid key level - 23.191
Bias -Bullish
Technical Indicators: Pivot Points High anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 23.844
Safe Stop Loss - 22.877
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
GOLD Trading Opportunity! SELL!
My dear friends,
Please, find my technical outlook for GOLD below:
The price is coiling around a solid key level - 2075.2
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 2060.4
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
INTUITION IN TRADINGWhy is it that when you feel that you should buy and you buy, the price goes down, and when you feel that you should sell, but do not open an order, the price immediately and sharply goes down? Murphy's Law? What should I do with my inner voice? Should I tell it to shut up or listen to it?
In various sources, one can often find completely opposite opinions about the role of intuition in trading. Some say that only a systematic approach can bring success, while others, on the contrary, claim that it is impossible to achieve significant results without a "sixth sense".
Who is right? Many people are interested in this question and we can make the most adequate conclusion: "Intuition is worth using, but only after you have gained experience of more or less successful trading within a year or two".
Let's think for a second. How can a person who has no experience as a construction worker take a look at a house and immediately realize that there is "something wrong" with it? You can't. The person simply does not have enough experience, he is too poorly informed about the subject to make any judgments.
There is a wonderful book by Malcolm Gladwell called Blink: The Power of Thinking Without Thinking. It deals in great detail with the "Thin-slicing Theory", what we call Intuition. I suggest you read it. So how to apply intuition in trading? The answer is simple.
At first, gain experience by trading according to a mechanical system, without using any judgments like "I feel it, we are about to fall" or something like that. And only then, when you have an insight, be sure to check it with the help of technical analysis. Having found confirmation of your intuitive guess, you can already take some actions.
In fact, there is even a book written on this topic, it is called "Trading from Your Gut". It is written by one of the "Turtles", Curtis Faiths. There is not so much information in this book specifically on the use of intuition, but there are a couple of useful thoughts.
The less fear, the better intuition works.
Perhaps this is the reason why it is so easy to make thousands of dollars on a demo account and so difficult on a real one. When trading on a demo, we release the full potential of our brain, because nothing limits our freedom, because the money is virtual and there is no fear of losing it.
EURUSD The Target Is UP! BUY!
My dear friends,
My technical analysis for EURUSD is below:
The market is trading on 1.0940 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 1.1009
Recommended Stop Loss - 1.0899
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
USDCAD The Target Is DOWN! SELL!
My dear subscribers,
USDCAD looks like it will make a good move, and here are the details:
The market is trading on 1.3335 pivot level.
Bias - Bearish
My Stop Loss - 1.3402
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 1.3275
About Used Indicators:
The average true range ATR plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
GBPCAD Buyers In Panic! SELL!
My dear subscribers,
GBPCAD looks like it will make a good move, and here are the details:
The market is trading on 1.6987 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 1.6896
About Used Indicators:
The average true range ATR plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK