ElieTheForexTraitor

ElieTheForexTraitor

This a really great example to how I trade breakouts. Please feel free to message me. OANDA:GBPCAD

ElieTheForexTraitor

I know how to properly identify support and resistance levels that are backed by recent supply or demand. By this I mean, supply is what traders consider to be selling power that makes a currency value go down. Demand is the total opposite as it shows its self as support and encourages a currency's value to go up. With that said, support and resistance or supply...

ElieTheForexTraitor Updated 

I took three previous trades on gbpcad and was stopped out all three for a .24 lost. My setup told my to stop trading for the week and to re-evaluate the charts today. Here are my current setups this week as I am currently 30 pips in profits on a gbpcad trade that I broke even on. Let's see what next week holds!! GBPCAD

ElieTheForexTraitor Updated 

I am sincerly sorry for not posting the past few weeks. I have been working on my trading setup day in and out which is why you havent heard much from me. With that said, I have placed sell limt trades on my oanda live account as my system indicates that GBPCAD is in a downtrend that is experiencing a pullback. GBPCAD

ElieTheForexTraitor

I have found out that the best breakout trades occur when a trader does the following things: 1. Finds an area of consolidation under and area of significant support if you are selling and or above resistance if you are buying. 2. Split your position sizing into 3rds so you would be able to enter at least three times because there is a very big chance for false...

ElieTheForexTraitor

It can be a very daunting task to create a trading plan/strategy that fits you without conflict. There are a lot of obstacles that inhibit the average trader from leaving a profitable trading plan or strategy as it is. Even I struggle with this which is why I have decided to publish this article. After much reflection, I have come with a few metrics you can use to...

ElieTheForexTraitor

This is a very descriptive example on how a trader can find high probability trades that are very unlikely to reverse. The markets are full of fractals so this strategy should be good for any timeframe but I highly suggest you use these timeframes as follows. If you place trades using the 4hr, use the daily for trend (example on the chart). If you place trades...

ElieTheForexTraitor

Please answer this question if you know the answer. Example is on screen. OANDA:NZDJPY

ElieTheForexTraitor

Trading Strategy The trading strategy of any trader is one that should fit him or her. There really isn’t much to this section as a plethora of trading systems can be on the internet. What matters the most is that your system has a risk reward ratio of at least 1/4. If you desire a profitable trading strategy I highly suggest Michael Covel's and Rayner Teo's...

ElieTheForexTraitor

Risk & Money Management Risk management, in my opinion, is equal in importance to psychology because it allows your trading strategy/edge to play out by keeping you in the market equity wise. There really isn’t much to risk management other than its number one rule, never risk more than 1% per trade. Risking one percent per trade allows your trading system to...

ElieTheForexTraitor

Psychology Psychology, like anything in life, plays a big role on how humans function. It affects the way we think, act, talk, and so on but when it comes to trading it affects us, oddly enough, in only one way and that’s through our emotions. Any experienced (or shall I say inexperienced) trader knows and understands the waves of overwhelming emotions that...

ElieTheForexTraitor

This chart show a beautiful example of what I describe as "spreading the trade" when it come to money management. OANDA:EURNZD