WHY YOU MUST NEVER - UNDER NO CIRCUMSTANCES - WATCH YOUR TRADES AFTER OPENING A POSITION - EVER!
As a DRFX Subscriber, one of the Strict Trading Rules you'll benefit from when using my Strategy is that of never watching your trades or following Financial News the moment you have opened a trading position. This is a major way of preventing us from interefering with profitable trades out of fear of a loss, due simply to temporary reversals or opposing investor opinon and later regretting it when the market eventually hits your intended target.
Why is this so important? Many traders end up with minimal trading results despite having great strategies because of the urge to micro-manage their trades. This has a lot to do with the pain of past losses experienced when they had losing strategies. However, given the significant impact of this fear on profitability over the Long-Term, serious safeguards need to be established to protect our trades every time, because like all things in life..
Why is this so important? Many traders end up with minimal trading results despite having great strategies because of the urge to micro-manage their trades. This has a lot to do with the pain of past losses experienced when they had losing strategies. However, given the significant impact of this fear on profitability over the Long-Term, serious safeguards need to be established to protect our trades every time, because like all things in life..
"THE PAIN OF MAKING A MISTAKE TODAY IS A LOT LESS THAN THE SEVERE PAIN OF REGRET TOMORROW FROM MISSED OPPORTUNITIES"
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RECENT 100 PIP TRADE ON THE
GBP JPY - FEBRUARY 5TH, 2018
GBP JPY - FEBRUARY 5TH, 2018
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To illustrate the importance of this to our trading success, I will use the recent trade on the GBP JPY last week as a good example of how challenging this type of situation can be for us every week.
TRADING SIGNALS
Once a Setup on any Currency Pair has been identified to be potentially profitable, I will always analyze the Daily and 4 Hour Charts with the necessary information to prepare me for the trade. This is then sent to you as part of my Trading Signals approximately 1 Hour before the 4 Hour or Daily Chart is expected to close to provide the Entry Signal Candle to trade.
TRADING SIGNALS
Once a Setup on any Currency Pair has been identified to be potentially profitable, I will always analyze the Daily and 4 Hour Charts with the necessary information to prepare me for the trade. This is then sent to you as part of my Trading Signals approximately 1 Hour before the 4 Hour or Daily Chart is expected to close to provide the Entry Signal Candle to trade.
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The FXCM Platform is used to identify market direction and the Candlestick Signals that are in sync with my Methodology. I then execute these trades from those Signals on the Live Account Platform that I have with FxPro (better user interface). These Signals will include the Daily and 4 Hour Charts of the Pair being traded along with the Entry Price, Stop Loss, Limit Order as well as the exact time when to close the trade if the target has not yet been hit. Both Charts will have brief descriptions of what is taking place, the Entry Signal provided and the expected movement and target of the setup (Support/Resistance).
GBP JPY DAILY CHART SETUP
GBP JPY 4 HOUR CHART SETUP
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| Bear Crown Setup/Head and Shoulders (HS), Left Tip (LT), Centre Tip (CT), Right Tip (RT) |
1. Close your Platform as soon as the Trade has been executed.
2. Never check Economic/Financial news related to the market and the pair being traded.
3. Do not analyse currency pairs correlated to the one being traded.
4. Never Check the trade itself until it has been closed or the holding period of 24 hours has expired.
SO WITH ALL THE CORRECT INFORMATION NEEDED FOR A TRADE AT OUR DISPOSAL, WHY ARE WE STILL TEMPTED TO DISOBEY IT TO OUR DETRIMENT?
As traders in this dangerous market, we have all experienced the pain and stress of losses when we just started out in this market with poor strategies. However, even after we have found the right strategy, there will always be some element of fear because of these past losses that tempts us to want to watch and interfere with our trades.
A very natural human impulse.
GIVING IN TO THIS TEMPTATION AND ITS CONSEQUENCES
If after entering this GBP JPY trade, we wanted to watch the movements of the 1 Hour Chart since it normally predicts what takes place on the 4 Hour Chart, (see Trading Manual) we would have seen the following pullback/market hesitation taking place...
GBP JPY 1 HOUR CHART
Even worse, if we had gone down to the 30 Minute or lower charts, we are more likely to have seen Bullish Signals such as Double Bottom Formation which indicated the start of a reversal - even more reason to panic!
As a natural human reaction to seeing our money not moving the way we want it to immediately, we are very likely to have begun to doubt our initial decision to short the pair. With this being the GBP JPY that moves by more Pips in a shorter time than other pairs, it is even more likely that we would begin to feel even more nervous and stressed out with this growing fear of a trading loss from this beast of a pair! - am I right?
In respsonse to this pressure, we may have been tempted to look at the news which natuarally would have reported on GBP strength and JPY weakness during this short time period, with short-term economic or financial support provided for it.
If we had succumbed to the uncertainty created by these opposing views and price movements, chances are some of us would have either reduced the size of our positions - (for traders who use multiple lots) - or closed our position alltogether. However had we done this, we would have missed out on the gains that the market offered when it eventually resumed the downtrend as we had predicted...
In respsonse to this pressure, we may have been tempted to look at the news which natuarally would have reported on GBP strength and JPY weakness during this short time period, with short-term economic or financial support provided for it.
If we had succumbed to the uncertainty created by these opposing views and price movements, chances are some of us would have either reduced the size of our positions - (for traders who use multiple lots) - or closed our position alltogether. However had we done this, we would have missed out on the gains that the market offered when it eventually resumed the downtrend as we had predicted...
GBP JPY 4 HOUR CHART TARGET HIT
...and the beautiful gain of 100 Pips and a Rate of Return of up to 5.14% from this single trade!...
THE NATURAL DYNAMIC OF FINANCIAL MARKETS
Even though exiting early would have saved us from the short-term stress from worrying about a possible loss, doing this on a regular basis will eventually lead to an account filled with small losses and very small trading gains!
The reality of the Forex - as with other Financial Markets with asset prices - is that Exchange Rates in the short term hardly move in a straight line. This means that there will be several periods when the market will move towards and against its major price target that reflects the natural dynamic of Exchange Rates across the world. During these periods, there will always be opposing Economic Data and investor opinion about the direction of the pair in question that can confuse rather than help us!
THE DOMINANCE OF THE LARGER CHARTS
Although we may see the Smaller Time Frames moving against the signals and patterns of the Larger Charts, this will usually only be temporary since Larger Charts eventually dictate what is seen on the Lower Charts. This is why the Lower Charts will have many False Signals that ultimately fail in the face of the momentum of the Larger Charts.
So in the case of the 4 Hour Chart that had given a strong Bear Crown Setup with a strong Bearish Engulfing Candle, the pair was always expected to make its way towards its main price target, after the usual period of Smaller Time Frame "resistance" to move in the opposite direction.
TRUST YOUR STRATEGY
Assuming you have a strategy that has been proven to work with the correct safeguards and rules in place, we must trust that it will be in sync with market direction most of the time, despite temporary price reversals that will always take place.
This is why we must implement the necessary restrictions on our natural human instinct to avoid financial losses with the above rules. This will allow us to handle the disappointment of trading losses in a more professional manner so as not to compromise the larger picture of trading success that awaits us when we allow the market to hit our targets for maximum returns!
The reality of the Forex - as with other Financial Markets with asset prices - is that Exchange Rates in the short term hardly move in a straight line. This means that there will be several periods when the market will move towards and against its major price target that reflects the natural dynamic of Exchange Rates across the world. During these periods, there will always be opposing Economic Data and investor opinion about the direction of the pair in question that can confuse rather than help us!
THE DOMINANCE OF THE LARGER CHARTS
Although we may see the Smaller Time Frames moving against the signals and patterns of the Larger Charts, this will usually only be temporary since Larger Charts eventually dictate what is seen on the Lower Charts. This is why the Lower Charts will have many False Signals that ultimately fail in the face of the momentum of the Larger Charts.
So in the case of the 4 Hour Chart that had given a strong Bear Crown Setup with a strong Bearish Engulfing Candle, the pair was always expected to make its way towards its main price target, after the usual period of Smaller Time Frame "resistance" to move in the opposite direction.
TRUST YOUR STRATEGY
Assuming you have a strategy that has been proven to work with the correct safeguards and rules in place, we must trust that it will be in sync with market direction most of the time, despite temporary price reversals that will always take place.
This is why we must implement the necessary restrictions on our natural human instinct to avoid financial losses with the above rules. This will allow us to handle the disappointment of trading losses in a more professional manner so as not to compromise the larger picture of trading success that awaits us when we allow the market to hit our targets for maximum returns!
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Happy Trading
Your Mentor
Duane
DRFXTRADING
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CLEAR AND DEFINED LEARNING OUTCOMES
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CLEAR AND DEFINED SWING TRADING STRATEGY
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CLEAR AND DEFINED RATE OF RETURN TARGETS
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| Reflects the performance of the strategy since it began in February 2018. ________________________________ |
1. YOU WILL EXPERIENCE TRADING ACCURACY BEYOND THE COMPETITION
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NZD CHF CONSOLIDATION BREAKOUT IN JANUARY 2015
ACCURATE EXIT AHEAD OF THE SWISS NATIONAL BANK "SHOCKER" - JUST A FEW DAYS LATER
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| (See full description of this trade here New Year off to a Flying Start - 231 Pips & 194 Pips on NZD CHF Trade & more Financial Crisis trade results here 200 Pip Targets Still Hit During Financial Crisis ) |
Candlestick Patterns accurately identify the best Trading Targets ahead of both Normal and Abnormal Market Reversals.
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2. YOU WILL TAKE ADVANTAGE OF STRESS-FREE, INDICATOR-FREE SWING TRADING
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Instead of using Complicated Statistical Indicators or volatile Economic Data, the more reliable Japanese Candlestick Signals of the Daily and 4 Hour Charts are used to predict and trade the Weekly Direction of Currency Pairs.
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3. YOU WILL ENJOY TRADING WITH AN AGGRESSIVE 24-HOUR STRATEGY
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Despite these great results, a more aggressive strategy is now being used beginning February 1st, 2018.
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| (Some Trades - where justified - will use larger Stop Losses) |
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4. YOU WILL LEARN ABOUT THE WEEKLY RANGES OF CURRENCY PAIRS
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The First Step in Swing Trading the Forex with me is to accurately predict the Weekly Range Direction of the major Currency Pairs.
All Currency Pairs have Weekly Ranges which is their average Exchange Rate Price Movements expressed in Pips over 5 to 7 Days. Trading is then done in this direction to capture our Pip Targets according to our Swing Trading Strategy.
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5. YOU WILL LEARN ABOUT TRENDS & THE PATTERNS THAT LEAD TO TREND CHANGES
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Mastery of Downtrends, Uptrends and Trend Changes will be achieved with a detailed understanding of the Structure of these Market Patterns.
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6. YOU WILL LEARN HOW TO IDENTIFY CONSOLIDATION BOUNDARIES
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There are many schools of thought on how to draw Consolidation Support and Resistance Lines. However, the "Line of Best Fit" method is the only way to do this accurately.
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7. YOU WILL LEARN HOW TO PREDICT & TRADE FALSE CONSOLIDATION BREAKOUTS
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Instead of losing due to unexpected Consolidation Market Reversals, we can master and profit from them once we understand their Structure and the Candlestick Signals that start them.
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8. YOU WILL LEARN HOW TO PREDICT THE FORMATION OF CONSOLIDATIONS
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Once we are able to spot the Bullish and Bearish Waves that form Consolidations, we can trade these waves for large Pip gains instead of waiting until they are completed.
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9. YOU WILL LEARN TRADING TECHNIQUES THAT HAVE WON CONTEST PRIZES
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10. YOU WILL HAVE A MENTOR WITH A TRACKED & VERIFIED LIVE FOREX ACCOUNT
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| Reflects the performance of the strategy since it began in February 2018. |
At 10.18% from just 4 trades since February 2018, only a few trades are left to hit the first target of 14% before moving on to the next major targets.
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THE COMPREHENSIVE TRADING & MENTORING SERVICE
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EXAMPLE OF VIDEOS YOU WILL RECEIVE PRIVATELY EACH DAY
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WHO WILL BENEFIT THE MOST FROM THIS MENTORING SERVICE?
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Day Traders Looking to Switch to the Stability of the Higher Time Frames
Swing Traders looking for a New Trading Strategy
Japanese Candlestick Traders who want to further master these Powerful Trading Tools
Traders who no longer want to be Handcuffed to their Computers Every Day
Traders patiently focused on their Long-Term Success from this Market
New Traders who want both the Foundation and Advanced Level Knowledge to Understand this Challenging Market
New and Experienced Traders who want to Demo Trade to practice hitting Large Trading Targets before going/returning to Live Trading
Traders who accurately predict Market Direction but cannot decide on the right Pip Targets
Traders who are annoyed at being Stopped Out too early only to see the market continue to their Initial Targets!
Traders who want to avoid the temptation of interfering with their Profitable Trades – that would have closed on their own at a Larger Profit had they not interfered! Yes I’m talking about you!
Traders who want Real Trading Knowledge beyond the Recycled Information readily available to all
Traders who know that there must be a Method to this “ Madness”
Traders who are tired of Learning and Learning and more Learning and want to finally Dominate the Art of Foreign Currency Trading
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GET STARTED ON YOUR JOURNEY TOWARDS TRADING SUCCESS TODAY
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Standard Service includes the Trading Manual, Daily Video Lessons, Trading Signals & Daily Trade Support.
VIP Service includes the Standard Package & VIP Mentoring.
Both Services Renewable at 80% of Subscription Rate.
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Trading Manual Sent in PDF Format.
Video Lessons Sent at 6PM EST Monday to Friday.
Trading Signals Sent 1 Hour Before Each Trade.
VIP Skype Sessions are 30 Minutes Daily.
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Email me for your Subscription Invoice.
All Payment Types Processed by PayPal.
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Your Mentor
Duane Shepherd
(M.Sc. Economics, B.Sc. Management and Economics)
Currency Analyst/Trader
shepherdduane@gmail.com /(876)-3825648
Twitter: @WorldWide876
Facebook: DRFXTRADING
Website : Coming Soon - April 10th, 2018
Website : Coming Soon - April 10th, 2018
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RISK DISCLOSURE
All the information provided in this blog and as part of my Services, including the Trading Manual, Video Lessons, Daily Trade Support and Skype Mentoring represent my opinions on the relationship between Japanese Candlestick Patterns on the Daily & 4 Hour Charts and Exchange Rate Movements.
Although I use this information to execute trades in the Forex Market using my personal funds via a Live Forex Account, the Trading Signals I provide represent what I am about to do on a Demo Account that I also have at FXCM where no money is used and therefore where no investment can take place.
I do not provide Investment Advice and therefore my Trading Signals and my opinions about the Forex are intented to be executed on Demo Accounts.
Essentially, I am a Live Account Forex Trader who teaches you how to trade on a Demo Account. You can then use your performance on your Demo Account to enter Demo Account Trading Contests to win prize money, apply for Trading Jobs or use it when consulting with a Licensed Investment Advisor to decide if trading on a Live Forex Account is appropriate for you.
TRADING IS NOT FOR EVERYONE. TRADING FOREX INVOLVES HIGH RISKS AND THE POTENTIAL TO LOSE ALL OF YOUR TRADING CAPITAL
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Before deciding to use my material on a Live Account, you should speak to a Licensed Investment Advisor, carefully consider your investment objectives, level of experience and risk appetite. You can lose all of your invested capital.
There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair.
Market Opinions
TRADING IS NOT FOR EVERYONE. TRADING FOREX INVOLVES HIGH RISKS AND THE POTENTIAL TO LOSE ALL OF YOUR TRADING CAPITAL
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Before deciding to use my material on a Live Account, you should speak to a Licensed Investment Advisor, carefully consider your investment objectives, level of experience and risk appetite. You can lose all of your invested capital.
There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair.
Market Opinions
The content provided by drfxtrading.blogspot.com is for educational purposes only.
No information presented constitutes a recommendation by drfxtrading.blogspot.com to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy.
Any opinions, news, research, analyses, prices, or other information contained on this blog are provided as my opinion of how Exchange Rates move in accordance with Japanese Candlestick Patterns and do not constitute investment advice.
Drfxtrading.blogspot.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information on a Live Forex Account.
YOU are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs.
You should NOT rely solely upon the information or opinions that you read on the blog or receive via my Services. Rather, you should use what you read and receive as a starting point for doing your own independent research, your own independent analysis, and refine your own trading methods before placing your money at risk.
Internet Trading Risks
There are risks associated with utilizing an Internet-based deal execution trading system including, but not limited to, the failure of hardware, software, and Internet connection. Since drfxtrading.blogspot.com does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, I cannot be responsible for communication failures, distortions or delays when trading via the Internet.
Accuracy of Information
The content on this website is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions.
drfxtrading.blogspot.com has taken reasonable measures to ensure the accuracy of the information on the blog.
However, drfxtrading.blogspot.com does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the blog, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website.
Distribution
This blog is not intented for distribution or use by any person in any country where such distribution or use would be contrary to local law or regulation.
None of the Services offered are to be used by persons from a country where the provision of such services would be contrary to local law or regulation.
It is the responsibility of visitors to this blog and users of my Services to ascertain the terms of and comply with any local law or regulation to which they are subject.
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Distribution
This blog is not intented for distribution or use by any person in any country where such distribution or use would be contrary to local law or regulation.
None of the Services offered are to be used by persons from a country where the provision of such services would be contrary to local law or regulation.
It is the responsibility of visitors to this blog and users of my Services to ascertain the terms of and comply with any local law or regulation to which they are subject.
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