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Forex Trading

No Nonsense Forex Trading Psychology by Patrick Victor

You may not need to agree with everything he says and that’s okay, but you should be thick skinned enough to not get your feathers ruffled if you plan on making in any trading industry. Nearly impossible to get fxprimus minimum deposit a renewal quote. Already had insurance with them and made me jump through hoops to get a quote for this year. Added 1000 this year and up 350% over two years. Got a lot better price with a different company.

no nonsense forex

The organization is a key aspect of making money from trading. The organization includes the development of trading plans and a calendar for trades. You need to have a trading plan, prepare for failure, and start investing in your own trading education. Then you can consider making a living from trading.

#471: What Makes a Good Reversal Trade?

❏ And if it all falls apart, you can just hit the proverbial reset button, and start back at $50,000 or whatever your starting number was. Take advantage of this great opportunity, because it doesn’t exist in real life. ❏ Nerding out and building your little empire is something you’ll look back on with a smile too, I can guarantee this. When you discover a new tool that, when added to your current system, makes everything much more successful than it was before- the euphoria that comes over you cannot be measured. ❏ It actually feels even better than making real money.

What should you not do in forex trading?

  • Lack of Proper Trading Education.
  • Misuse of Instruments (Leverage, Stop Loss, Indicators, Candlesticks)
  • Risking More than You Can Afford to Lose.
  • Choosing an Unsuitable Broker.
  • Taking Multiple Trades that are Correlated.
  • Minimal research.
  • Emotion-Based Trading.

Use the tradingview charts and trade a couple of years back, as if it was a live trade. B) move your stop loss to break even position. At this point, you know for sure you haven’t lost in this trade. It is the closest you can get to an objective system that doesn’t rely on arbitrary trendlines, or arbitrary resistance and support levels. This post is for those people who would like to trade using a well defined system, without relying on guessing, intuition, or gambling.

Tools

He also offers tutorials on commodities, indices, and cryptocurrencies. VP trading strategies help you avoid losses. Moreover, if you stick to his suggested ideas, you can start filling up your pockets soon. VP is becoming increasingly popular amongst traders due to his unique teaching methodology.

❏ This way you can put yourself in the best position to win by trading the Daily charts, and continue to chase the dragon and feel the thrill of trading on smaller time frames. ❏ If you’re profitable in both, for the love of God, do both!! I just want you to succeed and make lots of money in the end. ❏ This method has an added bonus I think of showing you in real time which time frame is superior. Some pompous jerk on the internet may not be able to convince you to change your trading, but if you can see it happening right in front of you, you may have second thoughts.

Please tell me you weren’t thinking this. ❏ We had just gotten done establishing how there’s nothing to be afraid of with trading other currency pairs. So why not give yourself the best chance to win?

Indicator can be used as a BASELINE for NNFX traders. One might feel overwhelmed by the quantity of the trading materials on the YouTube channel, from VP podcasts and its blog. Victor Patrick has been trading Forex starting around 2008. He has passed through numerous highs and lows during his trading venture. Keep this book as a reference and return many times. I’m so grateful I run into VP in a podcast episode I listened to 2 years ago.

I managed to close 24% in the month of February but the thing I was happy about was that I stayed disciplined in accordance with my algorithm. This indicator is based on Waddah Attar’s original indicator. I only incorporated a dynamic dead zone line based on the ATR times a factor of 3.7. I’ve also included a smoothing of the trend histogram using linear regression to a period of 8 , to prevent sudden moves above and or below the explosion line / dead zone line. Besides the whole purpose of introducing new technical analysis techniques is for it to be scrutinized by the public domain, this introduces learning and improvements on techniques. The fact that they are not willing to do so makes me think “Scam”.

Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News. This is the Photography & Digital Photography book in which the reader finds out the eight major techniques which are helpful in Photography & Digital Photography. First of all, you need a complete strategy development for your Photography & Digital Photography by Patrick Victor Book the niche of life. The reader will learn about the best practices of Photography & Digital Photography. I have been using it mostly on the BTC/USD pair.

VP Trading Disciplines

Even if you don’t code, any ideas or backtest results on indicators are welcome. Whereas far as possible, I will recode all indicators into MT5. You are solely liable for assessing each information you receive from Finance Brokerage, and you will be solely responsible of how you utilize the information provided. Using and/or implementing any market information to your investment is upon your sole discretion, and Finance Brokerage will not be responsible for any damage and/or loss you may incur. You have to question yourself about your own qualities. Do you know how to demonstrate discipline, diligence and self-control?

What are the best days of the week to trade forex?

All in all, Tuesday, Wednesday and Thursday are the best days for Forex trading due to higher volatility. During the middle of the week, the currency market sees the most trading action. As for the rest of the week, Mondays are static, and Fridays can be unpredictable.

It is the only pair that resembles the forex market to an extent. All the other altcoin pairs are much too riskier and proner to manipulation. Because this enables you to avoid most of the market manipulations, and at the same time, you can trade for only half an hour each day.

Fortunes have been made on putting your money there and doing absolutely nothing else. ❏ For those of you not paying attention, a 6% return in 6 months puts you on pace for a 12% yearly return. ❏ Of course, if you’re going to do that, wait until the next recession hits. ❏ But for the rest of you, use this as your benchmark. If your demo trading account starts at $50,000 , you want to aim for at least $53,000 at the end of a 6 month period. ❏ If you don’t get there, keep trading until you do.

This trend-following indicator can be used to identify the overall trend, time turning points, and filter price movements. You also need strong analytical skills and to be quick on your feet. If you are passionate about the financial markets and ready to invest your body and soul in it, get started. The path to easy enrichment by trading by copying the best traders or robot trading does not exist. Only novice traders who are ready to invest, train, fall and rise again will be able to make money from trading.

What makes VP different?

In parallel to your main indicator, you should have additional entry confirmation. This feature is sometimes called confluence. Here is where the second confirmation indicator enters the picture. When the price is over your baseline, you should take ONLY LONGS, when the other indicators tell you to do so. What I mean by “system” in the above sentence is having a structure, that is, how you trade, how much you trade, when you trade, and when you exit your trades.

no nonsense forex

Even if you are a short position trader, trading remains a long-term affair. Very often, we wonder when to take a position or exit it, which currency to buy, will the trade we are about to make will win, etc. Faced with all this avalanche of questions and uncertainties, the trader who does not keep a cool head will not be able to succeed. As a result, they have managed to afford the life they have always wanted. Many hobby traders become professional freelance traders and make a living out of it. To dive deeper into the matter, check the No-Nonsense Forex Discord trading channel, where you can benefit from the exchange of thought among the followers of this strategy.

The VPCI reveals the proportional imbalances between price trends and volume-adjusted price trends. An uptrend with increasing volume is a market characterized by greed supported by the fuel needed to grow. An uptrend without volume is complacent and reveals greed deprived of the fuel needed to sustain itself. Investors without the influx of other investors will eventually lose interest and the uptrend should eventually breakdown. For the NNFX traders, I reckon this will make a nice secondary confirmation indicator, C2.

No Nonsense Forex – Trading Forex for Living

It is, therefore, theoretically possible to earn a lot of thanks to the leverage effect on markets such as Forex, which is often favored by day traders . At the end of the day, your only job will be to have made more winning trades than losing trades. When getting into trading, every beginner wonders if they can make a living from trading. Let’s say that’s a legitimate question. However, it should be kept in mind that there is no such thing as a 100% safe and risk-free investment. And this, especially in financial markets such as Forex.

There’s a massive bonus in reclaiming one’s time here too. Time capital, mental capital and monetary capital – commodities worth investing the time and effort needed to study and implement trading the NNFX way. Goodreads helps you keep track of books you want to read. For any trading decisions made by you based on the material presented by and consumed with https://forexarena.net/. You are reminded to read the Risk Warning below before trading.

Here came from people and some of them came from forex.Btw,i appreciate on your effort on writing this up. Everything given above is just for informational purposes. This material should not be thought of as an advice on financial, legal, or even trade-related nature.

❏ And that 6 months is probably not going to come in the first 6 months, so you will have to learn to be patient. This is great however, because patience is one of the 3 main virtues you need to trade successfully. NOTE- VP uses OANDA as an example for demo trading How I arrived at 6% ❏ The S&P 500 averages just under 12% return every year.

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