Alhafiz Yazid / Profil

"Support shows at 1.1261/59 at first, followed by 1.1224/21 and then the cycle low at 1.1098. Below here is needed to signal a resumption of the core bear trend towards medium-term bear target at 1.0836/1.0765 – price and 50% retracement of the 1985/2008 bull trend,"

RE-SELL EU
~Re-sell EUR/USD on a beak below 1.1098.
~bias stays lower to test the 1.1098 low,
~expect an initial hold here, but bigger picture, look for an eventual break below it to trigger further weakness bear target at 1.0836/0765

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Re-quote from Zaimi Yazid
Credit to him;)

1.Trading is not a get rich quick scheme; it is a normal investment that gets you return on capital.

Did you ever hear of a trader making 100% percent return per month on a consistent basis? If you did, did you see a proof of that?

Trading professionally with proper money management would likely get you a return of few percents a month, from my personal experience a 3-5% return on capital per month is a very realistic number, and could be the ultimate target for any successful trader...

So if you’re that kind of person who wants to “make a killing” trading please reconsider your expectations.

2. You should be well-capitalized. Small accounts will probably burn you.
This point is really correlated to the first one, let me illustrate by an example:

Suppose that you have a 30k trading account, according to the 3-5 percent return per month rule; that would give you 1000-$1500 return per month, which is relatively a very good number.

Now let’s assume that you have a 5k account, according to the 3-5 percent return per month rule, which would return 150-$250 per month.

In the 5k case, the return would likely be not-satisfying for someone looking to trade for living and for a consistent income. Would it be for you?
Wouldn't you take more risk to increase that return, and break your money management rules to make better return? I think you would.. It's a complete psychological game...

3.Technical Analysis doesn’t work all the time, assumption we make will always have a percentage of failure. The main goal is to keep you risk limited, and your targets bigger than your risk to make consistent profit on the long run.

4.Trading is not about forecasting the market, do not try to be smart and always forecast where markets are headed. What a trader does is, wait for the market to GIVE him certain conditions that validates a trade. (Don’t trade under the market rules, trade under your rules). Do you feel sometimes that your lost and don’t know what to do ? its probably because of this, This is very important, and the avoids you from getting lost in the process..

5. If you did use stop loss on your trades within the past year, but you didn't and took excessive risk only on one trade, this single trade might wipe out all of the profits you gained through the year.
How many times, did you ignore your stop loss convincing your self that you will close at better price, and guess what it may have worked sometimes, but what if the price goes against you more and more, would you mentally strong and able to close at a bigger loss? Or you probably won’t, and end up with a margin call.

6. Don’t over analyze, over analysis and complicating your tools will lead to confusion and not necessarily efficient.
7. Ignore your bias, trades require technical evidence 3,4 or 5 conditions that occur at the same time making you enter a trade.

8. Always use a top to down analysis approach, from the higher time frame to the lower time frame, because the higher the time frame the more strong and invulnerable the trend is, and the more strong and invulnerable the support and resistance levels are.

9. Trading setups that occur within the context of the trend usually turn more profitable than those against the trend.

10. Don’t give up when you encounter a losing streak, yeah it can go up to 10 losing trades… don’t worry it’s normal in trading.

Hope you found it useful and enjoyable... If you have points that you would add to this, I would be happy to hear them, please comment and discuss..

Almost done to TP,,

LongWayTo target..

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Kiwi again~~"With “neckline”, 55-day average and 61.8% retracement resistance at .7608/34 just above,im try to sell for medium-term downtrend to try to resume.

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