I have received so many messages about the trade I posted on my IG story recently where I made 600 pips in total on EURNZD. It came as a shock to some people that I was able to hold the trade for over 2 weeks. But to those who have been following me for a long time, you were certainly not surprised because you already know how I trade. Maybe you should help me coach the new ones here, lol. And you guys know that EURNZD is also one pair I love to trade.
Anyway, I would like to share with you how I came about the trade. I started the analysis from the daily time frame. I identified that the trend was bearish. Remember that it is always advisable to trade in the direction of the trend. I narrowed down to the 4hr chart to refine the levels I marked from the daily chart. Then moved to the 1 hr chart to look for an entry. I put up the pivot and saw that price was rejecting the weekly pivot and the fair value gap was also filled. Because I do not like to chop alone, I shared the set up with my students in the Discord channel. I also shared it on my IG page @fx.professor. Some of you may have seen it at the time I posted it. Here’s the screenshot of the trade.
The analysis I did here is simple and anyone can open a chart and mark it up to trade. But not everyone can really hold the trade. It takes more than just technical analysis to succeed in this game. First, you have got to be willing to let go of your money. If you keep holding back and running out of trades prematurely because you do not want to lose, you will most likely continue losing. I took the trade and shared the update with my students.
I sent out update on my IG story as the week progressed until it recently hit target 3 weeks after, delivering 600 pips. A 30:1 risk to reward ratio. Trading is simple guys. What you need is a sound knowledge of technical analysis and good mentorship to help you build strong trading psychology. Read good books like Napoleon Hill’s ‘‘Think and Grow Rich’‘ to help your trading psychology too. If you would like me to mentor you on your trading journey, sign up for the Forexlyfe Hybrid course and I will see you on the inside.
If you got questions you would also like to ask, feel free to share them in the comment section below.