Money Makers FX

Basic Introduction for the World's Largest business, That is none other than "Forex Market".

Gold Intraday: look for 1811.00.

Pivot:
1785.00

Our preference:
Long positions above 1785.00 with targets at 1803.00 & 1811.00 in extension.

Alternative scenario:
Below 1785.00 look for further downside with 1780.00 & 1775.00 as targets.

Comment:
The RSI is bullish and calls for further advance.

How do you open a trading account

Register an account with XM using this link provided and validate your account:

https://clicks.pipaffiliates.com/c?c=587318&l=en-pk&p=1

Step 1: Open a Real Trading Account
Click on the link fill all information and proceed to “Open Real Account”. Make sure all your details are correct!

✅ MT5
✅ Account type: Standard
✅ Currency: USD
✅ Leverage: 1:500 or 1:1000
✅ Bounus: Yes

Step 2: Account Details
Check your email to obtain your MetaTrader 5 login details.

Step 3: Go to XM members area and validate your account it will take several hours.

Step 4: To join Trading Community and for daily levels of Currencies and Commodities Send your Mt5 ID number to +92 326 0218577

Step 5: Download MT5 & Begin! MetaTrader 5 " on the App Store.

For newcomers, my advice is for u to try with a demo account first. You don't need to open a live account just yet. Just practice on demo first.

Send a message to learn more

Step 1
Set your daily target! Do you want to make $10, $100 or $1000?

Step 2
Be realistic with your target! Set a goal that suits your capital.

For Example!
You deposit $100 into your trading account. That means you can target making $10 everyday. That’s it, just be realistic.

Once you hit your target, stop trading and enjoy life. Spend your time for other things that life has to offer. Just. Be. Realistic.

Forex can bring you great and fast returns but involves high risk. So please follow the rules if you want to succeed in trading. Manage your risks as best as possible!

In the trading world, always be cautious. Don’t get caught up making big profits and then when you lose, you blame someone else.

NOPE
Remove the mindset that forex is a get rich quick scheme. Make it a long term investment. Slow and steady!

Consistency is key 🔥

Double Top & Double Bottom

Double Top is when the price reaches resistance level twice. Due to strong resistance, the price won't breakthrough and will drop.

Double Top: SELL ONLY

Double bottom is when the price reaches support twice. Due to strong support, the price won't drop and will continue to rise.

Double Bottom: BUY ONLY

How and why should you calculate pips?

1. So we can calculate when trading
2. To set your TP, BE & SL points
3. So you can make calculated risks

Looks basic but it might save you one day!

We've only gone through the basics so far but make sure you absorb this.

BREAKEVEN!

BE is a step to protect your capital or balance from experiencing any loss after making profit!

Basically, making bits of profit while minimising any losses when trading.

You can set your BE by shifting your SL to before price action.

You can see a sample from the image above. Left is for Stop Loss (SL) and on the right is once Break Even (BE) has been done.

I hope you find this useful!

What’s the point of identifying a strong or weak SnR? Why not just go for it simon?!

First off, it is to get a deep sense of security as one of the confluences or reasons prior to us making an entry.

If you want to join a car racing competition, would you rather get a strong and good car or a broken down scrappy car? You’d definitely choose the strong one right? This is so that we can get a good sense of security to enter and win. The same concept applies to the market.

Strong SnRs is where its hard for the price to go through or break. Price needs a few momentum hits before finally breaking. For weak SnRs, its easy for the price to break and thus, adding our risks when entering a trade.

How to Know if the SnR is Strong or Weak? Read This!

To identify whether the SnR is strong or weak is easy. If there are a lot of retest/ rejections in the SnR zone, that means the SnR we have is strong as it marks that the price will have a hard time going through the our SnR zone.

Our SnR can be found in big time frames like 4 hours, daily, weekly or monthly. It is not wrong to look at smaller timeframes like 1 hour, 30 minutes, 15 minutes etc. Its just that smaller timeframes have a lot of noise or small movements that does not give an impact as big as the bigger timeframes.

Check out the visuals below as samples!

Topic 1 : Support & Resistance

Before i explains in detail, I would like to introduce what Support and Resistance (SnR) is:

SUPPORT is where we will find BUY because support is a level where demand is high causing the price the stop from falling.

RESISTANCE is where we will find SELL as it is a level where traders sell the currency causing the price to not go any higher from the level of resistance.

There are two types of Support and Resistance which will influence our decision to entry:

Support:
• Strong support
• Weak support

Resistance:
• Strong resistance
• Weak resistance

Support and resistance can also change if there happens to be a BREAKOUT (BO):

Support breakout = support becomes resistance (SBR)

Resistance breakout = resistance becomes support (RBS)