Technician
Long

(J) Trade 24: Quick Scalp Ahead of NFP

FX:USDCAD   U.S. Dollar/Canadian Dollar
4069 49 61
Trade 24: Long USDCAD             @1.3103
Trade Status: Active
S.L 1.3080
T1: 1.3130
T2: 1.3148

Balance= $28 394 Position size = 3.0 lot ~ 2.5% risk of capital
===========================================================================

Reasoning

Quick Scalp long on support level as we are approaching the NFP. If trade doesn't hit target or stop before the news tomorrow I will close it manually.

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Wish me luck and best of luck for everyone.

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My best regards
Technician
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hi Technician, may be im wrong, but looks like HS with neck line break and retest it back. Anyway wish u good luck & profit!
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Technician TOP Grygoriy.Lyashenko
a year ago
Yes I see it. Thanks
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lenboy
a year ago
I thought cad 1.32 may be the end of a wave 3 with wave 4 to 128 area but short term small up possible
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Cryptoelite PRO genchwan
a year ago
Troll!!!
+1 Reply
marcus123
a year ago
nice little trade...
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Kingfisher1978
a year ago
Nice setup
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bloodbath
a year ago
Nice and simple. This is trading.
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newview
a year ago
excellent call!
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newview
a year ago
can I short now?
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I was stopped out for the scalp ahead of the NFP. Yet i have another trade running http://s8.postimg.org/brnq0u2p1/USDCADH4.png
+1 Reply
RCP
a year ago
Nice setup, but NFP spike
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newview
a year ago
Watching closely..thanks T.
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lenboy
a year ago
next cad move:- $USDCAD chart
snapshot
via http://www.tradingview.com ,making lower highs looking for a down move
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riskmode TOP No_more_Post
a year ago
I'm not sure why you feel 23 pips is so few. Sounds like a lot to me. If you're trading intraday 10 pips would be a large amount to pull.
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Technician TOP No_more_Post
a year ago
Thats why i have missed 7 profitable trades.(if was doing this i would be up 45% not down 9%. Your comments are not welcomed here. And if you dont stop i will take an action against you.
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riskmode TOP No_more_Post
a year ago
The reason it seems this way is because winning trades win fast and losing trades tend to lose slow. If you look back at charts you will see that most winning entry levels were only breached for a few minutes (sometimes only a few seconds), so if you're not right at the terminal at that very moment anticipating what is happening you're going to miss the trade and all you're left with are a bunch of losers.
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riskmode TOP No_more_Post
a year ago
This is why it's so easy to end up in losing trades, a losing trade will always go through your limit order, but a winning trade a lot of the time won't reach your limit order.
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Technician TOP riskmode
a year ago
True.
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JasperForex MOD Pranav_Shandilya
a year ago
@Pranav_Shandilya About the balance: I had a quick look myself. Trade 21 finished in profit AFTER trade 22 was published, so the start balance of trade 22 was lower than the final balance after taking profit on trade 21. You see, the order in which trades are published is not necessarily the order in which trades finish (affecting the account balance). Makes sense to me. I think you are also wrong about trade 22 itself, it was not a winner, it was a pending order that did not get filled. So it did not affect the balance either way, hence the start balance for trade 23 = balance after winning trade 21 = $29104. Trade 23 itself was a lost trade and the balance after that one was $29104 - 2.5% risk of capital = $28394, which was the start balance for trade 24. What you see as a “sudden jump”, I see as the logical progression of a balance in a series of trades. The account balance AFTER losing trade 24 is yet to be published by Technician via an update statement and will obviously be less than the start balance for that trade. All this information can be found in the published trades (that’s where I looked). It’s fine to ask a question about this if it confuses you, but try not to use an accusatory tone and jump to conclusions when you obviously need some help processing the information.
+3 Reply
Technician TOP JasperForex
a year ago
Thanks for explaining Jasper. Unfortunately some ppl are just here to make wrong conclusions without even understanding anything.
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JorgeEllena PRO Technician
a year ago
Hi Technician, my theory is that many people are following you because you have a lot of background here and many people (including me) are emulating your trades, and after losing their minds think something like "because of this guy i'm losing money" they come here, criticize your trades, they trade again (because they are not sure about trading themselves) and after losing again they repeat the process. I really appreciate your job, sometime I find very interesting set ups with high probability of success, sometimes I don't and sometimes I don't get all of your though process. Which is fine because I understand the risk involved and assume this valuable info for free help me to become a better trader and at the very last I'm the only one who trade using the recommendation and help of others traders by my own decision
+1 Reply
Wish you luck and all the best
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New Balance= $28 104 - 690 = $27 414
+1 Reply
kitnik Technician
a year ago
NFP is tricky!
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Here we go again....some people just cannot help but look a gift horse in the mouth! Whether Technician is or isn't a successful trader ISN'T THE POINT, folks! He's not doing this to PROVE he is successful! He's doing it to hopefully HELP others! Even if he got his balance wrong and it isn't EXACTLY correct to the dollar but is in the ballpark, SO WHAT? Why is anyone following up on that just to call him out is beyond me. Have you got nothing better to do? If he made a math mistake, then ask him about it! No need to accuse him of cheating! Pay more attention to your own account balance! Ask yourself, for what purpose would he fudge his numbers? Is there a contest going on that I don't know about? Believe me, it isn't an ego thing! The time it takes to create posts isn't worth that kind of trouble if doing it just to satisfy an ego!

It takes time and effort for him to create, post and follow up. instead of appreciating his efforts to provide quality content FOR FREE, I can't believe anyone would go and criticize! Where's your own posts? Would you appreciate any of your FOUR followers criticizing any of your SEVEN posts? I'm not talking about simply disagreeing but CRITICIZING! It's fine to disagree with someone's post but it's really beyond acceptable to criticize anyone for posting FREE. QUALITY content! People who feel the need to criticize and denigrate others have low self-esteem and feel the need to do that to make themselves feel better. Shameful!
+6 Reply
tcas EverythingForex
a year ago
Well said! But for many people the question is "Can I earn would be a full time trader or not". And now we see answer - No.
+1 Reply
Technician TOP tcas
a year ago
Wow. what a conclusion, after a 9% drawdown. This is funny.
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tcas Technician
a year ago
Maybe funny. I see what I see - agree? Or you doubt that a lot of people are here to find the way to earn for living by trading?
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tcas Technician
a year ago
Without offence.
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tcas Technician
a year ago
And of cause I wish you success and luck.
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No_more_Post Technician
a year ago
not funny, but the main point is you can not make profit yet,
not a 9% draw down from account include profit.
But NO PROFIT YET
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No_more_Post No_more_Post
a year ago
Whatever, this is my last comment,

''Is this Called All time Top Author'' of trading view , good luck, maybe I have too much free time for social,
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Technician TOP No_more_Post
a year ago
You are probably less experienced or have some agenda for someone else, simply because 25 trades of my trades on tradingview doesn't know provide any conclusion. Especially if i am doing that in PUBLIC with additional pressure from negative people like you.

I have been trading for years and i know what i am doing. But i didn't know how hard you would make it for me.
Yes please make it your last comment since its not doing any good.
+7 Reply
ValeriuV Technician
a year ago
I just don't get you guys, when your tv provider plays a mouvie you don't like what do you do... pick up the phone a and call them, write them a e-mail to change the movie or just pick up the remote and change the channel.
From what I know in order to recive updates or view posts from an author you first need to click the follow button. Did someone force you to do this ? You are all grown man with planty of choices. Just pick someone else to follow.
Because if you were a profitable trader and share your profitable trades you would be the one to have over 8000 followers and not follow someone else.
We are all fight the same battle. When I win a trade it does not came out of your pocket and the other way around,,, so why not help each other for a common interest ?
I doubt anyone had only winning trades
+1 Reply
riskmode TOP tcas
a year ago
It is true you cannot make more money trading off a 60 minute and higher time frame charts than you can at a normal job unless you have a minimum of $100k of capital to work with.
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riskmode TOP tcas
a year ago
With a real job you will make money everyday as well. Warren Buffet only trades higher time frame charts and he doesn't make money everyday. That should be more than enough evidence that it is impossible.
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tcas riskmode
a year ago
Ok. You convinced me - trading is a possible way to make money for living:)
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riskmode TOP tcas
a year ago
It is only possible if you have a lot of capital. Technician's balance of $30,000 is not enough to make a living trading using only 60 minute and higher time frame charts.
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tcas riskmode
a year ago
If I can make EVERY month 3-5% (in average) it's enough for me. The question of money amount is another question.
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riskmode TOP tcas
a year ago
You can definitely make 3% on average trading. 3% of $30,000 is only $900 though. That's not even minimum wage.
+1 Reply
tcas riskmode
a year ago
If I have 5000$ salary and additional 900$ it's nice!
+1 Reply
riskmode TOP tcas
a year ago
You can definitely make 3% on average trading. You'd have to take a leave of absence from your job that pays the $5000 though in order to learn how to trade though. Technician is pretty lazy with his entry levels and stop losses and he could still very easily be up 3% a month on average at the end of this. He's only 1 or 2 winners from back to break even.
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nahidik PRO riskmode
a year ago
So what do you do if you have a small income perhaps retired or from a country where $5000 jobs are rare? The initial capitalization of your account must correspond to your cost of living. If you have a $5000/month job perhaps put $100,000 to start and you will find the $3000 a month a good addition to your salary. If perhaps you live in a place with a much lower cost of living maybe $900/month is sufficient. Please tell me what options you have? perhaps in the bank where you money will not keep up with inflation or high risk bonds from countries or corporations with a huge risk. Personally If I could make 3%/month which is 3 x what the banks here are paying per year, I would be very happy. Remember think outside your personal circumstances $5000/month is very little in a lot of counties but a huge amount in a lot more.
The point is not the capitalization but the return on capitalization? Even with simple interest 36% return looks pretty good to me.
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riskmode TOP nahidik
a year ago
If you are content with making 3% just follow Technician. I think his strategy can make that for you.
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Tom_Killick PRO riskmode
a year ago
Ever heard of compound returns?...

"retail traders jump one hurdle, and break their leg on the next..."
+2 Reply
Tom_Killick PRO tcas
a year ago
Can you earn money as a full time trader? Oh yes you can Mikhail... You may just find that the bigger picture of trading engulfs your small mindedness and logic...
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alex.a
a year ago
It is not you to trade before the news. It is amazing for you to do this... 0_0
+2 Reply
riskmode TOP alex.a
a year ago
He said he was going to close it before the announcement. Sheesh
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aziz92
a year ago
For those criticizing Technician, keep in mind that he is doing this in PUBLIC and under PRESSURE.

@Technician - I enjoy your posts, keep them coming. Ignore the haters.
+2 Reply
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