Thread: Free Forex Trading Strategies Daily from Asia Forex Mentor

Forex Trading Strategies & System – 2nd Chance
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In Forex trading, price always gives us a 2nd chance to place our trades before it takes off.
It can be considered as a 2nd chance or you can consider it as a confirmation bar.

In the chart above, Aud Usd.
We can see the first highlighted blue box showing a pin bar.
As this was not the nicest pin bar of all. We did not take it.

Or if just to say – we missed this pin bar for some reasons. Either by choice or we were not at the chart when it happened.

As mentioned, price always gives us a 2nd chance or a confirmation bar – which is the 2nd highlighted blue box showing a pin bar.
Telling us a great hint that the train is sounding its horn and is taking off – getting the last few passengers to board the train.

Usually Most of them time, the train will take off after that, heading our direction.

In the chart above, besides the pin bar. There are several reasons (confluence factors) which we had entered on the trade.

1) Overall uptrend movement
2) Pin bar at the price pivot area 0.94900
3) Trend line confluence
4) Double confirming pin bar

Remember – the more the confluence. The higher the probability of the trade.



Forex trading Pair: Gbp Aud

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I need not explain much on this as its clearly shown in the chart.

1) Double pin bar
2) Price pivot area of 1.63500
3) Swing Low
4) Divergence

There are plenty of examples in regards to this if you look closely at the charts itself.

If you find this post interesting, do join our Asia Forex Mentor Price Action Forex Trading Course to learn the FULL Proper system to trade successfully in the forex market.



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Trading Psychology – Conquering Your Emotions


A lot of traders can actually feel their emotions in place when they place their trades. And seeing their trades taking place.
Emotions include:
- Heart Thumping (Beating faster)
- Sense of Anxiety
- Nervousness
- Excitement
- Irrational Behavior
- Frustration
- Desperation
- Hatred & Revenge mindset
- Devastated
- Always feel that the market is going against you
- Etc,
If you feel any of the above in trading, it is normal. The market is set for you to feel this way.
Which is why to be a successful trader, 80% is about conquering and mastering trading psychology.
And some of the reasons that you could be feeling any of the emotions above include:
- You are trading way beyond your risk level (Trading too high an amount of your capital)
- You have not calculated your proper risk size before entering
- You entered based on Gut feel
- You fully expect and anticipate that the market will go your way according to your previous experience or something which you had learnt – but it Didn’t..
- You are trading on a money that you desperately need. (Eg. borrowed money, food money, life saving money etc..)
- Etc.
If you have experienced the above, stop trading for the moment.
Remedy:
- Go get a shower and analyze what had gone wrong
- Go for a stroll in the park, beach etc..
- Self Reflection
- Meditation, calming exercise
Ask yourself, are you trading the right way?
Are you actually trading or gambling?
Do you have a proper trading system?
Did you entered on proper setups (eg. price action) or you entered based on your gut feel?
Trading is about self analyzing, discipline, self control, and sticking to your trading system.
It may sound tough at first, but once you start practicing the stuffs here for 20 days. It will then become part of you and you are no longer putting any conscious effort in applying the above.

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