ScoreSHEET 01 finished with gain +43,1%

ScoreSHEET 01 finished with gain +43,1%

Hi traders, today  I just want to speak about my first ScoreSHEET which I finished yesterday. Here I want to share with you the results. In the TELEGRAM room I was sharing my trades as Signals, so everybody can join it and make profit on it. And I think I can do it also for next trades in the same way. So if you are interested, join my telegram room

Here are the results, 4 trades with profit +94 pips. And to the ScoreSHEET#1 I made one small UY trade at night with profit +13 pips, so the result is 107 pips for the ScoreSHEET#1

sdpafx scoresheet 01

As you can see in the table here, the ScoreSHEET was traded with starting account ballance $325 with recommended lotsize 0,11. That’s perfectly calculated for +35% in 100pips. Some of these trades I made with a bit higher LotSize so the ballance now is a bit above the target $439 which is +43,1%

SDPAFX SS01_ scoresheet ballance

In the ScoreSHEET#2 I’ll be hunting 100 pips with 0,16 lots and again I’ll have 10 trades to reach this target.

From yesterday all the trades will be also on my new TradingView profile, so you can discuss, like or share these trades if you like them.

To the end I want to share some of the trades here with you, so you can see what the signals looked like.

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EURUSD-ECNM1 sdpafx

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Is there any difference between trading bias and prediction?

Is there any difference between trading bias and prediction?

A prediction is defined as a forecasting statement on how things will be in the future. Making a prediction means that you are expecting a certain outcome. In forex trading, saying that a currency pair will trade at a particular price at a specified point in time is an example of a prediction.

Meanwhile, a bias refers to an inclination or outlook. Having a bias means you believe that a particular kind of behavior is more likely to occur than other alternatives. In trading, being bullish or bearish on a currency is a form of bias.

Trading-predictions as you probably noticed, the key difference between predictions and biases in trading is that the latter is open for confirmation or negation from the markets. As a trader, you must develop biases instead of simply making many predictions.

It is normal to have biases on currencies, especially when technical and fundamental factors support your outlook. It is important, however, to discern if market behavior confirms your biases before acting on it by taking a trade. “If you believe it likely to have a definite bullish or bearish effect

“If you believe it likely to have a definite bullish or bearish effect marketwise, do not back your judgment until the action of the market itself confirms your opinion,” says Mark Douglas in The Disciplined Trader.

“Even if you develop the correct bias about the direction of the market, you still must possess the trading skills to capture those moves,” writes Mike Bellafiore in his book One Good Trade. “Wasting your time on predictions is energy and time lost for what will truly make all the difference, skill development.”

Having a blind prediction on how a currency will trade without taking into consideration market behavior or changes in the market environment could be bad for one’s trading.

If you keep trying to prove your forecast is correct but the market disagrees, you’re likely to end up with one loss after another. Economist John Maynard Keynes couldn’t have put it better: “The markets can remain irrational longer than you can remain solvent.”

At the end of the day, you have to remember that the market is boss. It couldn’t care less about where you think price will go. The market will go where it pleases.

A common mistake newbie traders make is believing that successful forex trading is about making predictions and that they can affect the markets with their opinions or trades.

Take for instance the recent rally in USD/JPY. Some traders insisted that the pair should be trading much lower after Trump won the U.S. Presidential elections so they kept shorting the pair, ignoring oversold signals, and even upside breakouts from key resistance levels.

Because of their inability to recognize and act on the change in market environment, they not only lost their trades, but they also missed opportunities to make pips on the pair’s move up.

As a forex trader, you must always process information with an open mind and remain flexible. You risk missing both intraday moves and long-term trends if you choose to only see the market signals that support your own predictions.

“Trade what the market is doing, not what you’d like it to do in your nihilistic fantasies,” advises renowned trading psychologist Dr. Brett Steenbarger.

Remember that the name of the business is trading, not predicting. At the end of the day, your trading results won’t reflect your predictions but your ability to adapt to the markets and capitalize on price action.

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Are you looking for good trading system which can makes your dreams reality?

I’ll show you how to make such trades with small stoploss and huge profits

 

EURUSD-ECNM1 sdpafx

Yes, I want more NOW

UsdJpy trend continuation ScoreSHEET DAY3 SDPAFX.com

UsdJpy trend continuation ScoreSHEET DAY3 SDPAFX.com

Sometimes you have to stay away and  just look. Today i wanted to short GbpUsd but there was not so good PA for this. Than the EurUsd was also really nice to short, but without any confirmations, on the other hand the EU was reversal on lokal trend with new daily high. There was also some nice PA on aussie but i was not able to catch it. So the last one was UsdJpy. I was waiting for the new low and than according to price action from M15 the situation was good for entry. I waited for new HH, set the trigger in pullback way and than just leave the platform. Than i found this in open profit 25 pips and I closed the trade.

UsdJpy long +22 pips

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EurUsd trend reversal ScoreSHEET#DAY#02

EurUsd trend reversal ScoreSHEET#DAY#02

Almost every week I’m working with the rule of Wednesday = Tuesday when it goes about trend direction. Well today the situation was a bit different. GU made new HH and than fell off. Deep drop over 100 ATR is showing us the trend is no more long and after FOMC confirmation, there is no reason to buy the pound. Just way for any retracement and go short. According to the pair correlation, the same situation is on the UY and EU too. UsdJpy is long with nice zones to entry. Unfortunately I was a lot of the time through the day out of the platform. Today I made just one trade with two positions and profit +22 pips. It was a nice short EurUsd after news and almost 100% retracement. It’s really great when you keep patience and wait for the pullback.

 

EurUsd short +22 pips

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I’ll show you how to make such trades with small stoploss and huge profits

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Dolar in weakening ScoreSHEET#DAY#01

SS01 / T01 / short UsdJpy / +26 pips

…from M30 was a pretty nice trade to catch . . . H1 correction, nice PA in the Supply, zooming to the lower TF, catching the M5 nicely

SS01 / T02 / short AudUsd / +15 pips

quite nice scalp trade fromon M1, i wanted to stay in a bit later, but the situation is not so good and it make no sense to have blocked margin on such a pair

SS01 / T03 / short GbpUsd / -13 pips

I was looking for the reversal setup cable, but the timing was not perfect

SS01 / T04 / long UsdJpy / +28 pips

Probably the last trade of 2.1.2018, short UY was from the H4 demand, quite nice PA with false breakout