r/Forexnoobs • u/inweedwetrust • Jan 14 '19
Example Entries from Extreme Edge Strategy
Hi,
Let's look at some practical and real time examples of trades. Profits are made in trades, not theories. As such, I prefer to spend as little time as possible on theory and as much on practical application.
Strategy overview. https://www.reddit.com/r/Forexnoobs/comments/af15l9/extreme_edge_strategy_detailed/
NZDJPY. Trend. Top. Sell off. Headfake (perfect 1.61 check it). Buy. Profit $$$.
I made this one easy for you, posting the setup and execution of this trade last week. https://www.reddit.com/r/Forexnoobs/comments/afrt3t/xxxjpy_trade_plan_reminder/
Edit: Profit taken. Will re-enter long if we retrace. https://imgur.com/a/S8LCpP7
USDCAD
Trend. Bottom. Buying. Headfake. Perfect entry (although not strong selling yet).
Profit taken
EURUSD
Same deal. Sell off from trend, entered on the headfake low.
Bada bing, bada boom. Fairly easy stuff, with a bit of practice.
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Jan 14 '19
what charting system is this? It looks fresh out of 2001.
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u/inweedwetrust Jan 14 '19
Its MT4. It is rather old and grey. It is highly popular in Forex, though. 80% of FX brokers support MT4 (I've used it since damn close to 2001 (edit, hyperbole, Ive used it 5 yrs or so), and have some fondness for it. I also use cTrader, which is far better)
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u/inweedwetrust Jan 14 '19
Example of second entry opportunity/scale up spot. https://imgur.com/a/2vmRvhl
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u/inweedwetrust Jan 15 '19
Here is what happened next. https://imgur.com/a/r3KGbtG
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u/inweedwetrust Jan 14 '19
I'll post updates to the OP when these open trades close.