" "

forexchief

Professional Forex Trading Strategies.

Discussion in 'Diskusi Forex' started by asiaforexmentor, Nov 21, 2011.

Share This Page

  1. asiaforexmentor

    asiaforexmentor New Member

    Messages:
    11
    Likes Received:
    0
    Trophy Points:
    0
    What is Price action?

    A lot of people have this question in mind, what exactly is PRICE ACTION.
    And why is PRICE ACTION KING IN FOREX?
    To answer the above question, i start off with talking about indicators.
    There are tons of indicators out there, be it forex or others. They work mostly the same way.
    And there are new indicators coming out every other day.
    Alot of traders when they first started trading forex, they have tons on indicators on their charts. Trying different combination of which works best for them. And at the end of the day, they get confused all over as one indicator may be telling you to go long, but the other is telling you to go short.
    Which will result in you making bad decisions and end up blowing your account with a frustrated mind.
    Why does it happen this way? Indicators are derived from the chart movements. Some indicators react faster, some slower.
    However, as they are derived from the chart movements. They are 1 step slower than the chart. Which is in fact Price Action!
    Price Action leads the indicators, and when price reverses it movement from short to long (example). The indicator which you are watching is one step too late. And by the time the indicator confirms it is going short, Price Action has taken the market to go Long.
    This happens most of time, if not all of the time.
    Therefore = ALL INDICATORS ARE LAGGING INDICATORS!
    PRICE ACTION IS WHAT LEADS THE INDICATORS, IT IS KING IN FOREX!
    By understanding Price action in forex trading, we are able to understand the ENTIRE PICTURE of the market.
    WHY is the market moving up,
    WHAT causes it to stop moving,
    WHY is the market reversing
    WHY is the market in consolidation
    IT is like reading a book once you have mastered price action in forex. And the best thing is, It is not difficult!
    It is even easier than you reading an indicator.
    And when you mastered price action, with combination of our system. You will almost be able to pick absolutely MARVELLOUS TRADES all the time. CONFLUENCE is the King of the game. This is what equates to our high probablity trades with a high winning ratio.
    To an Awesome Trading as Always,
    Ezekiel Chew
    " "
  2. EJMTNG

    EJMTNG Member

    Messages:
    56
    Likes Received:
    0
    Trophy Points:
    6
    Share please...

    Would you share the secret of price action here please... Thanks before.
  3. asiaforexmentor

    asiaforexmentor New Member

    Messages:
    11
    Likes Received:
    0
    Trophy Points:
    0
    Forex News Trading – Why should you NOT trade this!

    Forex News Trading – Why should you NOT trade this!

    [​IMG]

    Forex trading pair: GBP CAD
    This is one of a good example which is worth mentioning.
    Alot of people have asked me, Ezekiel – How do you trade the news?
    My answer is simple: I rarely trade the news. and i go on by saying that i will usually avoid taking trades when the high / medium impact news is coming in 2 hrs time. And i would only enter the trade AFTER a minimum of 10 minutes when the news is announced.
    Why people may say. Trading the news can make you fast money.
    Yes it does. But trading the news will NOT make you consistent money. Nor will it make you a full time trader.
    Besides its Risky and its like you are laying your stakes in the hand of god.
    Forex News Trading – Why should you NOT trade this!

    If you ask me, i prefer trading safe and trading with a plan. I do not like to leave my fate of the trade on luck by predicting the outcome of the news.
    Which is why i do not trade 2hrs before hand for any affecting pair.
    In the chart above, forex pair: GBP CAD
    There is an upcoming news on the GBP in 48 mins time.
    I spotted the pin bar before hand , but i didn’t take the trade.
    Because Rule no. 1: Do not take trades that have news impact with a buffer of at least 2hrs advance.
    So what we can see from the chart is that the market has gone wild, and people are expecting good news on the GBP which resulted in the spike of any GBP pairs.
    Had we taken the trade, we would have gotten stop out and made a loss.
    I hope you got something out of this forex news example.
    Asia Forex Mentor
    Ezekiel Chew
    Asia #1 Forex Mentor
  4. asiaforexmentor

    asiaforexmentor New Member

    Messages:
    11
    Likes Received:
    0
    Trophy Points:
    0
    Foex , Professional Forex trading strategies

    [​IMG]

    In this Foex pair: Usd Jpy
    There is a price action foex price action pin bar + bullish outside bar on the 4hr time frame (right chart in the picture).
    Indicating an upwards movement.
    Most new foex traders would have entered on it right away – placing a buy order.
    But there’s a problem that these new traders do not realise and because of this. They would have gotten losses most of the time.
    Foex , Professional Forex trading strategies

    If you look at the 1hr time frame (left chart in the picture)
    You would have seen a orange line right above the current price movement.
    That’s the 150 moving average.
    Meaning, the 150 moving average is possibly blocking its upwards movement.
    Well, of course it may actually protrude right up to go pass the moving average.
    But we do NOT want to take the chance. Right?
    What if it hits the 150 moving average and gets rejected to go back right down?
    Then we would have made a loss.
    Foex , Professional Forex trading strategies

    You see.. This is the exact reason why most foex traders lose in their trades.
    They FAIL TO LOOK AT MULTIPLE TIMEFRAMES!
    That is a deadly error.
    What i am showing you here is only the 1hr and 4hr time frames. I have not shown you the other bigger time frames which would have support/resistance as well.
    Most traders enter on a trade which looks good at 1 timeframe.
    But they fail to realise that there are blockages (support or resistance) at the other timeframes – opposing the move.
    Which would be the reason why the trade did not work out.
    And after a series of such trades. They decided that foex is a scam and no matter how they trade, they still lose.
    BECAUSE THEY FAIL TO LOOK AT THE BIG PICTURE!
    Foex , Professional Forex trading strategies

    By Correcting this foex mistake ALONE, you will see an increase in profits and winning trades.
    Ezekiel Chew
    Asia #1 Forex Mentor
  5. asiaforexmentor

    asiaforexmentor New Member

    Messages:
    11
    Likes Received:
    0
    Trophy Points:
    0
    What’s your winning probability?

    Forex Coach Ezekiel Chew ask: What’s your winning probability?


    FOREX COACH Ezekiel Chew ask: What’s your Winning Probability?
    Do you have the answer to this question?
    If you don’t, then probably you should NOT even trade.
    It is a very simple question that you should ask yourself before you take every trade.
    “WHAT IS MY WINNING PROBABILITY FOR THIS TRADE? “
    If it is anything lesser than 60%, skip the trade.
    You see it makes no sense at all for you to take a trade that has lesser than a 60% chance of winning.
    If it’s lesser than a 50% chance of winning, why even trade?
    You are bound to lose on that trade right?
    If it is a 50% chance of winning. You are betting on your luck.
    That’s gambling, that is NOT trading.
    If it is a 60% or higher chance of winning. And if you only take trades that have a 60% or higher chance of winning.
    Where do you think your account size will go? UP of course.
    Forex Coach Ezekiel Chew ask: What’s your winning probability?

    Having a 60% and higher winning probability for that trade means you have an edge over the market.
    You SHOULD consistently take trades that are over 60% chance of winning.
    But if on occasions where you take a trade that is a 50% chance of winning.
    You will spoil your entire game and your entire trading plan.
    That is because you are adding a random variable to your trades.
    And these random variables will disrupt your account growth.
    For example:
    Trader A) Out of 20 trades, he take trades that are only 60% or higher winning probability.
    Trader B) Out of 20 trades, he takes 10 trades that are of 60% or higher winning probability and 10 trades of lesser than 60% winning probability.
    Trader C) Out of 20 trades, he doesn’t care about the winning probability. He just take trades when he likes it or just based on his gut feel.
    Forex Coach Ezekiel Chew ask: What’s your winning probability?

    Which trader do you think has a better chance of growing his forex account?
    Trader A of course!
    Which trader trades most like you?
    If you are at trader B or trader C stage, you should stop your trading now.
    And reflect on this.
    This vital question is something that you must ask yourself the next time you trade.
    “What is my winning probability for this trade?â€￾
    Forex Coach: Ezekiel Chew
    Asia #1 Forex Mentor

Share This Page