Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Volumes. Daytrading. Signals, trades and statements every day.
Thank you. No questions as I don't trade the currencies. But looking at your journal I was impressed by your comprehensive research/analysis and as I said, your results show it is working well for you.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Can you help answer these questions from other members on NexusFi?
Good morning, dear traders. I hope it is good, warm and joyful for everyone. In the meantime, we continue to show the most beautiful performance. Let's briefly review yesterday.
Yesterday I wrote that we are at the lower boundary of the balance and it is a question of whether the price will turn from this level or go further down, but in this case an intraday balance must occur right on the boundary to begin with. That's why I was buying right there with small targets, as I wrote about yesterday. The trades can be seen on the screenshot.
In the GBP, I gave a short signal from 1.3791, but the price did not reach some points. In the euro the anticipated short level was attractive, but I did not try to short there.
As I told before, the sellers' force of the global and local level prevailed and the market eventually went further down. Unfortunately, it happened last night and we didn't have time to join the movement.
So, what to do now? Right now we are too low to sell, and you can not buy here either. It remains to wait for the price to move to the resistance in order to sell, or you can look at the newly formed microbalances and determine if you can sell right away. I will give the farther levels for the short, but probably I will be able to find the deals earlier, so I will post in Telegram if something interesting happens.
GBP sell at 1.3755
Euro sell at 1.1710
Stops are at 15 points, and the targets will be determined in a moment.
This is the way it is for today. Have a nice day and good trading
Hope you are well doing great, I just read the signal sheet it was good for me and the major points are understandable while doing day-trading. It keeps me to manage my financial statistics.
Greetings to all dear traders. Today will be a slightly non-standard post, as some changes have occurred with the trading account.
As you could observe, since the beginning of June I was trading almost every day, posting analysis, giving clear scenarios and signals. The lifetime of a trade usually did not exceed 1 day, and often several hours. It was clear from the profitability graph and the report on deals how effective my system of analysis was. The statistics were almost flawless with a maximum drawdown of less than 10%.
By now I have gone from 30 euros to 450, and in my last post I wrote that I shorted the euro near 1.1710. Eventually the price went down and I closed some of the lot and decided to keep some of it and wait for another 10 pips drop. I had a very hard day, so, instead of closing all trades and having a rest, as it was Friday, I left some opened deals and went to training. In the evening before market closing I found out that the price had gone back to the upper boundary of balance and I had small minus in my remaining trades. If I closed them, the total for the day would have been -5 euros.
Then again, instead of reasonable and rational behavior in this case, I preferred to give in to extreme weariness and negligence and left these trades till Monday, expecting to solve this problem next week. I didn't take the situation seriously, as I was a bit relaxed and felt overconfident on the background of the success over the life of this account.
But when the market opened on Sunday night to Monday, the price rapidly went further up, and when I woke up in the morning, the account was already at a more significant disadvantage. Although, if you look at the situation coldly and technically, there was an obvious factor on the chart, which shows the strength of the buyer in the moment and it was fundamentally prohibited to be in shorts by the system.
The obvious and correct decision in this case would have been to close the deal with an absolutely bearable minus (if I remember correctly, it was about -40 euros), to make a fresh complete analysis and trade further. But then a very harmful and dangerous virus appeared, which I used to eradicate in me and as it seemed to me had coped with it completely, but after a long time this damn parasite appeared again.
The essence of the virus is that when you've been trading close to perfect for a long time, when you make a mistake you can't accept it and admit that this time it set you back a bit. The mistake may be small, against the background of perfect statistics in the past it's a mere trifle, you just have to keep going and keep going in the same vein as before and everything will be fine.
However, for some reason an unhealthy perfectionism starts to take over, and you are simply unable to close minus trades. This leads to the fact that you begin to wait, to average and then wait again, when the market will pass to the place where there is no minus. It is noteworthy that at this point, all the rational part of you as a trader disappears. The system and the rules take second place, but what second, they just disappear. I think it's clear to what it all leads in the end.
As a trader with many years of experience, I went through a struggle with this virus and felt a great relief when the victory was in my pocket. But now I was put in a new environment for me. I started trading publicly. My statistics are seen by other people and at this point for me it was not so much the money as the statistics that was important. It was nearly flawless and suddenly this flawlessness was encroached upon. I could not control myself, although I do not think I even tried at that moment. Completely ignoring the buying factors that were taking place on the chart and were more than obvious, I even opened additional shorts, expecting an early drop simply because I needed to not screw up the damn stats.
I ended up leaving the trades just hanging. I didn't do any analysis, I occasionally checked the charts, realizing there was no going back. There was no more free lot for parallel trade, so I just had to wait. As a result, I missed the whole week and on Friday there was strong volatility on the news, which finally spoiled my beautiful statistics. I obviously didn't write posts recommending shorts because according to the system no shorts were there, at least for the kind of long targets I was expecting.
It would seem that you have a complex and very powerful system that objectively works fine and gives solid results. You've been through the perfectionism virus story before. But then new conditions arise, followed by emotional fatigue, and then the human factor takes over and ruins everything. Is it frustrating? A little. Is that a reason to be sad? Of course not. The field we work in is very difficult and if you want to be really successful in it you have to go through difficulties, pain, unexpected obstacles, failures, etc.
What conclusions have I drawn from this situation?
1. Perfectionism in such matters is not allowed categorically
2. If you are tired and feel that you can not stand the unconditional observance of the system, then just close all the deals and go have a rest.
3. it is better to have imperfect, but stable positive statistics than to have ideal ones, but with a steep falloff at an unexpected moment.
4. You should algorithmize and automate your system, in order to delegate the bulk of the work to the program, and thus buy out the human factor as much as possible.
This last point is really on my mind, but given the complexity of the system, automating it won't be easy. But it's an interesting and exciting challenge. So I have already slowly started to move towards implementing this idea. I will keep you informed.
As for future plans. As I wrote recently, I will change our everyday posts a little bit, I will add some specific analysis, try to get rid of abstract ideas and make a short, clear and informative post with analysis and signals by instrument. I have opened a new trading account and made a deposit of 50 euros, so we start with you again.
I have prepared a new format of posting. I can not disclose all the details of the analysis in the post, especially since I do not have time yet to record everything in a separate post every day, but I will write plus or minus briefly and to the point. Now I will polish my pitch as I go, but in the meantime, here is the first review on Euro, which I've made yesterday.
Globally
Phase:
Balance
Stage of balance:
Moving towards the lower boundary
Stage:
Approaching the lower boundary, the potential for a downward move is there, an early reversal entry is in progress, but the key 1.1800 level is not repositioned yet
Current scenario:
downward movement to the lower balance boundary at 1.1625. Cancellation of the scenario in case of a fixation of the reversal upwards, specifically repositioning of the level of 1.1800 upwards.
Intraday micro balance with large volumes right on the border
Scenarios:
1. Buyer is at maximum strength.
Price does not move below the nearest thin support at 1.1783 and a a confident repositioning of the micro-balance upward, the price moves up 1.1829, 1840 and even 1.1852.
2. In the nearest 1-2 days there will be a balance between 1.1772 and 1.1810. This balance will form a local reversal down within the local balance in sync with the global target for a move down within the global balance.
Factors:
1. The structure of the price movement up within the local balance has a maximum buying character. Signs of a reversal are absent.
2. Previous day: volatile/impulsive upward, closing upward.
3. Closing at the level of POC of the day.
4. Price is at local resistance, under pressure from global seller
Conclusion:
Globally: still down, no local reversal yet.
Locally: price is on resistance, plus under pressure from the global seller's pressure, which implies the expectation of a fall, but intra day the structure of the move up is very strong.
There are conflicting factors, so we have to wait for confirmation.
Scenario number 2 is more likely, so we will look for trades in the moment from the boundaries of the potential balance, if the scenario will be realized.
In advance as signals for the moment only:
Buy from 1.1772 with a target of 1.1792 and a stop at 1.1760
Sell from 1.1853 with the target 1.1859 and stop at 1.1870
Good morning to all, traders. The first step in my analysis algorithm is to draw a grid of levels. As I wrote yesterday, the most likely scenario is the formation of a micro balance around the upper limit of the local balance. I gave some farther levels as expected balance boundaries but the market was traded in a very narrow range. Nevertheless, the perfectly drawn grid of levels was an excellent support and the price worked it off very accurately.
The nearest thin support at 1.1783 was really held, which confirms the strength of the buyers. And as we can see at the moment the market continues to move up, implementing yesterday's buying scenario.
But so far the re-positioning of the upper boundary of the local balance has not happened yet, so potentially our micro-balance might continue, just widening its limits.
Buy at 1.1800 with a target at 1.1820 and 1.1829 (depending on the nature of the price movement) and stop at 1.1787.
Buy from 1.1772 with a target of 1.1792 and stop at 1.1760
Buy from 1.1853 with a target of 1.1859 and stop at 1.1870
P.S. I will add the GBP tomorrow
P.S.S. I have an awesome article about the markets, I will publish it next week
P.S.S.S. Have a nice day everyone 🤓 Have a great day
It is very nice to see how beautifully the market is working out our grid of levels and scenarios that we defined.
I wrote that if they hold the thin support at 1.1783, but it will show the strength of the buyers and the market will go up to 1.1829, 1.1840 and maybe even to 1.1853.
In the end, this is what happened: we held 1.1783, went to 1.1829, had a reaction there and then went to 1.1840, where the market reversed. By the way, I also warned about it, mentioning the priority of selling within the global structure, where the reversal up still had not occurred. I said that the intraday balance around 1.1800 is likely to continue.
Price dropped to our buy level of 1.1800, where I bought accordingly. However, there was some really serious volume from above, so you have to be very careful here. Moreover, today is a very volatile day, which means that the news will probably be very volatile. You can see the visualization of all the above on the screenshot.
Ideally now it is better to exit from buying from 1.1800 close to breakeven and watch from the outside. Moreover, we have price levels, at which it is possible to enter into transactions.
Sell at 1.1825 with target at 1.1800 and 1.1785 and stop at 1.1846.
Sell at 1.1840 with a target at 1.1800 and stop at 1.1858
Buy from 1.1772 with a target of 1.1792 and stop at 1.1760
Yes, it's like the post is back in the old format, but really I'm just commenting on Monday's analysis, which is being implemented so far. The format is developing right on the fly, so I think its next evolutionary step will look like this: a nice structured analysis, with clear fixation of all indicators will also be posted every day, but separately, for example, on my website, and I will give comments to it already in the post here, because otherwise the post will be just gigantic.
Good morning, dear traders. I was out of touch for a long time, I caught a seasonal cold, which was as ugly as the price dabbling in a narrow range without volume. I was thank gods for the absence of covid, although I felt lousy and had no time for trading and posts, but for the last 2 days I`ve been slowly getting back to my post. In the screenshot below I show my deals in quite a difficult environment - in the narrow intraday balance in the middle of the local one.
I also have great news. As I promised, the visualization of my analysis in the form of text and screens has reached a new level, although obviously there is still room for improvement. The analysis now looks more structured, more details have been added, there is a certain skeleton by which the analysis is built. Now you don't have to read through canvases of text and look for clues, everything will be visible at once. The next stage of evolution, which I have in mind, will be the transformation of all this into a table, perhaps with the addition of different colors, which will be even more pleasing to the brain and the eye.
I am also working on a website, where I will post every day analytics and signals. There will also be articles and other interesting stuff. In particular, there will be a widget from mql5.com (one of the main portals, related to trading and MetaTrader platform), where you will be able to watch live my account statistics. I connected my trading account to this site by creating a so-called "signal". And now all the statistics from my MetaTrader comes to this site and beautifully visualized in the form of charts and other nice things. I think I will complete the site by the beginning of next week.
Influence of Global Structure: medium. upward reversal has not occurred globally, but there are preconditions
Phase: balance
Balance type: creeping downwards.
Stage: 2nd segment, volatility inside, pro-trading in the middle of the balance in the value area
Role: working out of the bottom boundary of the global balance
Details: attempt to reverse from the lower boundary of the balance upwards, reversal structure is broken, selling volume from above is not reaching the target, some of the buying volume was cancelled
Levels: +
Previous 3 days
Monday: reversal, realization of "False Realization of no volume Balance" pattern
Tuesday: volatile, closing neutral -, below the POC of the day, realization of resistance capture and volume outflow on it.
Wednesday: balanced, movement within the range of the previous day, narrowing of the range
Locally, there was a downward reversal within the balance, the price met support and moved into the intraday balance phase.
The intraday balance is in the middle of the local balance, within the value area of the local balance, between two volumes, buying and selling.
Based on a combination of factors, seller's strength prevails
Scenarios:
1. The POC of the previous day at 1.1818 is held and the price goes down to 1.1792, then it turns up to 1.1807, and then it turns down to 1.1772.
2. The POC of the previous day at 1.1818 is retained and the price goes down mightily with small pullbacks on the intermediate supports to 1.1755.
3. The price is moving within the range of 1.1772 - 1.1818
Conclusions:
Based on all the above, we have a priority of selling, and the ideal level for which was the POC of the previous day at 1.1818. Unfortunately, the level was taken at night and we did not manage to take it. However, if the price returns to it during the day, it will be worth selling there again.
Signals:
Sell at 1.1818 with the target 1.1785 and stop at 1.1833
Sell at 1.1807 with a target at 1.1775 and stop at 1.1833
Day trading has many benefits for those rare individuals who can manage their emotions and withstand the inherent pressures of day trading:
1- Potentially Enormous Profits. Done well, successful day trades can be extremely lucrative and turn a quick profit.
2- Independence. Many day traders are self-employed, working by themselves and answerable to no one. They are true entrepreneurs living by their wits and, hopefully, reaping the benefits of their own decisions.
3- Euphoria. There are few events that can match the emotional high that comes with a huge profit earned solely through your own efforts and a bit of good luck.
4- Status. Day traders occupy an almost mythical status in certain communities, similar in many ways to the legendary “fast guns” of the Old West — iconic outsiders living by their own rules and making their own way.
