I closed amazing trades getting 364 pips of profit just buying GBPAUD from the demand to supply and 730 pips of profit selling GBPAUD to the perfect entry point, following my Trading Plan.
Money comes to people who never give up. This is what I repeat day by day to myself and to people who comes to me asking me how to earn money.
I decided to share with you my FIRST Two Video Lessons explaining how I defined my trading plan and how I have chosen entry point and exit point in the buy and sell trades. These Video Lessons are an experiment for the future. I made them, but I know that they can have some problem like: a raw audio, my uncertain English and the recording software has cut the last 20 seconds of the audio in the first video lesson. But these little things are not really important for the moment, because what has a real relevance is the Value that these First FREE Video Lessons are going to give you.
The Focus Points of these Video Lessons are:
- Recognize the Supply and Demand Levels.
- Identify a Pattern, follow it to have a Trading Plan.
- Take the Trade.
I bought GBPAUD to 2.1449 in the demand level that was not a fresh level, but it was still strong enough to support a third swing in the bearish pattern. I took the profit to 2.1813. In my trading plan the exit point that I had set was to 2.19, but the weakness of GBP in the last day and the general slowness of the rising for 5 days of duration induced me to change my plan for this trade.
Later I sold GBPAUD to 2.1998 in the supply level and it was definitely a perfect entry point and I took my profit to 2.1268, waiting patiently for some days.
I have identified and drawn the main supply and demand levels in the weekly chart that is my first choice as Time Frame for trading. So I moved to the lower time frame, the daily chart, to refine better the Supply and Demand levels so to get a better precision for the best entry point and exit point for my trades.
In this way I have identified the range for my trade, from the bottom to the top. So the next step was just to mark on the chart the potential entry points on the demand levels and the potential exit point, in line with the Trading Plan.
Well, making so I had on the table my Supply and Demand Levels and my potential entry and exit points for my trades. The next step was just mark the bearish scenario identifying the swings in the bearish pattern.
With all these things I made my trade visible on the chart and trigger the trades was very easy.
Respecting the Trading Plan until the end
The Trading Plan keeps the focus on the third swing of the bearish pattern and it takes in consideration the possibility that the nearest demand could be now so weak to be taken out in the next test of the level, making move the price down to the lower and fresh demand level. And it is just what happened later.
Because of this, after the buy trade closed, my GBPAUD sell trade moved down as planned to the exit. This is the power to trade like the Institutional Investors.
“If you don’t have a plan, you don’t have a trade.” ~ Nathan Michaud
Trading is the best job of the wold, for me. It gives to you one of the best ways to make money, a lot of money, but this happens only if people dedicate they effort and hard work to study and practice how to make money.
So, do your best and your will get the best profit than ever.