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  1. #1
    Solid Member Nimzv's Avatar

    Trading Diary Nimz !!!

    About Me

    Hi, I am Nimz and I am from London. I work full time with my Father in our small family business, We design and manufacture bespoke joinery (furniture.
    I do enjoy my job but it is very stressful especially during busy periods.
    I had been wanting to find another stream of income for sometime now which is what lead me to binary.

    My Journey so Far
    I have been learning in BOTS school for a few months as well as reading about technical analysis and watching videos about the subject.
    I had traded binary some years ago, but at the time I didn't know much and slowly began learning about how the news impacts the markets, and some basic technical analysis. My biggest downfall was entering trades during the times I was free to do so even if there wasn't clear indication and also emotional trading to win back losses.
    I feel that I have absorbed some useful knowledge and this place has been answer, so firstly thank you to everyone who takes the time to contribute to this fantastic resource.

    I took some time before I decided to start this diary to assess what I wanted to get out of this experience, setting realistic goals and also understanding technical analysis.

    My goal for the next few months or however long it takes, is to demo trade on CT and a broker demo until I have confidence and also discipline to use a funded account with a solid strategy.

    Following the advice I received when joining the forum I have decided to focus primarily on EUR/USD, although in time I would like to incorporate another currency pair and a commodity.

    For the moment whilst I am demo trading I would like to trade as often as possible when I feel that I have satisfied my signal criteria, practice makes perfect and I am hoping to learn from my successes and failures and also learn from the feedback of others on the forum.

    I will be back soon with info on strategy and current MT4 setup and some questions, stay tuned.

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  3. #2
    Legendry Member Okane's Avatar
    Good, I love EUR/USD!
    It's volatile, has its patterns and favorite prices.
    I'll show you later!
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  5. #3
    Legendry Member Michael Hodges's Avatar
    Eur/usd is a great pair to trade. They move on the biggest central banks in the world and are the basis for just about every other important currency pair on the market, and affect gold, oil and the global equities market...

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  7. #4
    Legendry Member Okane's Avatar
    Check out today's trades, might help you a bit!

    http://forums.binaryoptionsthatsuck....5894#post55894
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  8. #5
    Solid Member Nimzv's Avatar
    Thanks I had a look I can definitely relate to your first put trade, I now understand your second trade in relation to the daily support line I just didn't realise that the daily line is less significant on smaller TF.

    I have been practicing drawing meaningful S&R lines followed your advice on higher time frames from your diary. I have tried to do so in areas of thickest price action.

    Is it a good idea to switch to line chart for plotting S&R lines as I have seen some people provide this advice and it does seem to be easier to do?

    Also do you think I should colour my S&R lines from different time frames in different colours so that I can quickly identify the significance of each line?

  9. #6
    Legendry Member Okane's Avatar
    Hey, "ust didn't realise that the daily line is less significant on smaller TF"
    I think you meant to say that they are MORE significant, the lines on higher timeframes
    are always stronger because they are based on massive volumes and more history!
    Anyway maybe a typo...
    Regarding colouring them I thinkn we discussed that before right? But just to others who
    read your diary:
    Yes it's good to use different colours if you aren't lazy like me haha.
    I never use line charts though because I want to see where price closed and how far up/down
    traders pushed prices (candlewicks)
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  11. #7
    Solid Member Nimzv's Avatar
    Thanks Okane, I was actually wrong about the daily line significance but when I read some of the posts on the forum I realised my mistake.
    Yes we discussed the colouring on skype group thanks for the tip
    I will draw my lines from candle sticks instead of line charts from now on, I have put the 1.10420 on already thanks

  12. #8
    Legendry Member Okane's Avatar
    Quote Originally Posted by Nimzv View Post
    Thanks Okane, I was actually wrong about the daily line significance but when I read some of the posts on the forum I realised my mistake.
    Yes we discussed the colouring on skype group thanks for the tip
    I will draw my lines from candle sticks instead of line charts from now on, I have put the 1.10420 on already thanks
    Well, that's what we are here for .

    Yeah, you never know when it's gonna come near your lines, can take
    days, weeks, months but regardless, sooner or later you will have more lines
    that are good and you will always find other S/R lines to help you trade.
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  13. #9
    Legendry Member Okane's Avatar
    A good support would be the ~1.08260 for a short call. We'll see if price reaches that area today.
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  14. #10
    Solid Member Nimzv's Avatar
    Click image for larger version. 

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    Thanks Okane, I hadn't spotted that price level as significant.
    However earlier in the day I drew a trend line that agreed across several time frames infact very bullish on smaller TF's. Therefore the break below my trend line I saw as a retracement, as I figured such a huge bear candle meant new sellers entered due to the volume of the drop.
    As the big bear was forming I zoomed out and saw previously the bulls had strength in this zone, (as per your trade the other day seeing when buyers/sellers are likely to enter the market) so I waited out another 5min candle it was a bull this time and then I took a CALL paper trade at the start of the next candle at which point Stoch was agreeing aswell.Click image for larger version. 

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    Last edited by Nimzv; 01-09-2016 at 08:45 AM.

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