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GBPAUD

Scorpius Updated 1 Aug.  in #Trader's blog
Hello everyone,
GBP manufacturing PMI data released at 55.1 which is better than 54.4 forecast. My GBPAUD buy stop order is at 1.6545, stop loss at 1.6495 (50 pips), take profit at 1.6595 (50 pips) which is near the resistance of 1.6610.
Good luck to all on the first day of the contest.
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LAST HOURS

Scorpius Posted 31 July  in #Trader's blog
Hello to every community members,
Since it is already the last few hours of the contest, I decided to stop trading as the risk of going down is much higher than the reward of going up in position. I see other contestants are still jockeying for a higher position. I am so happy and excited to end this contest as it is my first time to finish in the top 30 in my 2 years as a member here, I place 4th right now. I really learn a lot in this current contest as I mostly follow my strategy. I am now lo…
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LAST DAY

Scorpius Posted 30 July  in #Trader's blog
Hi to everyone,
With only one trading left this coming Monday, I am so please with my performance as I am in the 4th place right now. Tomorrow will be a crucial day and any thing can happen. Many will surely want to climb a higher place and will trade recklessly. But I do not want to pressure myself and open a position that is not within my strategy. Based on my observation, Monday has a low volatility, so my take profit will be in less pips than in my usual trade of 100+ pips take profit.
Good …
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WEEKLY WRAP UP

Scorpius Posted 29 July  in #Trader's blog
Hello to all my fellow community members,
This is the final week of the contest with only one trading left this coming Monday. As I review my trades this past week, all of my closed 5 trades had been a lost because I changed my strategy. Another lesson for me that I should try unproven strategy only in demo account, not in any contest and especially not in live account. We really need to stick to the strategy that works for us even though it needs Patience to look for the best trading set up and…
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1 Comments
RahmanSL avatar
RahmanSL 30 July

Yes, like any profession we have to be well prepared and knowledgeable in what we do.
To make money consistently in the forex market we have to stay with a strategy that we are most familiar & comfortable with and which we can carry out without much or any stress.
Patience is vital for the survival of our trading account.

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CAD REMAINS BULLISH

Scorpius Posted 28 July  in #Trader's blog
Hello my fellow community member,
CAD GDP 0.6% beats the forecast of 0.2%, USDCAD moves 100+ pips since the data released. My order will be sell USDCAD at 1.2465 (about 38% retracement from the hour of released (1.2527) to the low price (1.2418)), SL at 1.2515 (50 pips), TP at 1.2365 (100 pips) for a 1:2 risk:reward ratio.
I never chase a price, I always wait for retracement, Patience and Discipline are the two qualities I need to master.
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USDNOK

Scorpius Posted 26 July  in #Trader's blog
Hi to all my fellow community members,
USDNOK has been down for 9 consecutive days and the weekly chart shows a strong support at 7.94-7.96 range with a three bottom formation. My order will be BUY STOP at 7.9750, SL at 7.9250 (500 pips), TP at 8.0750 (1000 pips)
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USD REBOUNDS

Scorpius Updated 25 July  in #Trader's blog
Hi to all community members,
USD CB Consumer Confidence released result is 121.1 against the 116.5 forecast that is why the USD rebounds. My order is buy USDCAD at 125.21, which has just been filled, SL is at 124.95 (26 pips), TP at 125.73 (52 pips), a 1:2 risk:reward. I choose USDCAD because of all the major currency, i think the pair is the most oversold based on daily stochastic which is below 20. This is only a short term trade, if by tomorrow my TP did not meet, I will adjust my SL and TP.
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USDMXN PULLBACK

Scorpius Posted 24 July  in #Trader's blog
Hi everyone,
USDMXN is in a pullback, My sell limit order is at 17.8450 (near 38.2 fibonacci level and resistance), SL at 18.1100 (slightly above the 61.8 fibonacci level) , TP at 17.3150 ( a 1:2 risk:reward ratio)
Be confident with your trades everyone, if you are emotional while trading, most likely there is something wrong with your trades.
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MY ORDER

Scorpius Posted 23 July  in #Trader's blog
Hello everyone,
These are the pairs that I will trade this coming week, they are all have a strong trend that I hope will continue. My strategy is waiting for a breakout or a retracement.
1.) Buy EURUSD on breakout at 1.1725, SL 50 pips at 1.1675, TP 100 pips at 1.1825
2.) Buy EURGBP on breakout at 0.9015, SL 50 pips at 0.8965, TP 100 pips at 0.9115
3.) Buy AUDUSD on retracement at 0.7820, SL 50 pips at 0.7770, TP 100 pips at 0.7920
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WEEKLY WRAP UP

Scorpius Posted 22 July  in #Trader's blog
Hi to all community members,
Looking to all my previous orders this past week, 3 out of 5 trades are a winner with a proper risk management so I have a decent gain for the week. RIght now, I am looking for my trades this coming week and I am analyzing these pairs with a very strong trend : EURUSD, EURGBP, USDCAD and USDDKK, will it continue the trend or make some retracements? Let us find out as my orders will be placed on them.
Happy weekend everyone.
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