after touching 42 the price jumped back up, broke the high of last trading day (46) and now its eyeing 50 for short term.

unfortunately for me, when I entered a martingale position on 42.54 I decided to hedge it to cover my ass in case price fell more down towards 36 (the fibbo level) and make the order heavy there since if it had went that far down it would have shot back up very quickly to 46 and I would have made a lot of money there but my experience on gold a couple months ago made me decide on looking after tbe capital instead of risking big.

I was long on gold three months ago and expected the reversal to happen at 1175 but it went down to 1160 and came back up from there.. but my overconfidence on my own analysis cost me a lot of money and I lost big on a trade that if I had taken a more conservative approach to it would have made me at least 80K in 3 months.

oh well.. shit happens. there will be always other opportunities to profit, but we all need to be careful and not get overtly invested in our own analysis and bias towards the market and expect the unexpected at all times.

by the way, Im still going to try to swing the oil till 75. Saudis need it to be at least 80 to cover their budget and current prices are an amazing opportunity to profit off of oil since unlike any other commodity, oil is practically running some countries like Saudi Arabia and my homeland Iran. so the price of it cant fall more than a certain amount (historically have never been under 17 and in this day and age, I cant possibly see it going down more than 21 and reaching that level is very unlikely as it is too) so assuming that most buyers are still waiting to buy at 36, its a good idea to slowly build a bullish position on oil by longing it in very small parts and adding to it on each price milestone if it goes further down.

in a couple of months (winter effect and new year portfolios getting built again) it can definitely make you some easy money.. you just need to manage your positions properly according to the size of your account and not get greedy and over leverage on trades.



ok I ranted for long enough.
have a nice day, wherever you are 😉

Happy new years to you all.

I wish you and your loved ones a lot of success, happiness and health in 2019

Seems like after the news from lybia cutting down exports due to weather conditions (the winter effect as I mentioned it earlier) the WTI crude is running upwards!

D wave still going strong.

Im still waiting for the brexit thing to be sorted and then I think we can start taking positions with more confidence on chart patterns.

for now Im mostly playing around with wti crude oil and CAD (on usdcad cadchf) and slowly scalp and build positions on them (usdcad short, cadchf long)

not gonna lie, the gold incident has made me more conservative than before, but hopefully once I can have a clearer view on world's economy, hunting good trades will become a lot easier.

today have the news on USD. considering the recent news from lybia and how their export will be cut even shorter due to regional tentions, I think we will soon see the price of WTI climbing higher, most likely after the USD news.

in my eyes any falls to the downside after the USD news is a buying opportunity and Im going to just add to my longs on the dips.

I got out of USDCAD now.
the swap was negative and it wasnt worth it to keep it longer. so for now Im focusing on CADCHF and WTI crude oil to maximize profits there by slowly swinging the pair.


the flash crash in AUDJPY has made me very suspicious of market conditions so Im keeping the risk ultra low for now. I suggest you do the same.

be careful out there 😉

I got out of the oil trade for now. in 8 hours we have the big news events on USD and CAD so I decided to stay out and wait for another opportunity to get in after the news.

I have put together a plan for my 2019 trading on the MAM account : https://goo.gl/A8wGpg (its a google doc)

in this plan I expect myself to catch at least 300 pips per week. so far I have managed to hit my first two week goals and if everything goes well, I will be able to slowly scale up the position sizing as I move forward and compound the interest.

I adjusted the pip to dollar ratio to 10$/pip for one standard lot, so the pip amounts are adjusted accordingly. the actual pip amount is higher than what the spreadsheet shows! (first two weeks I managed to catch 1800 pips as you can see in the myfxbook trade explorer, but going with 10$/pip will make it 820 pips) because some pairs give less than 10$ per pip for each standard lot,
so I have made the adjustment in pip numbers to make calculations easier.

Lets make 2019 a great year 😎

Some members of the channel contacted me asking about investing in this MAM account, so I thought instead of explaining it them one by one, I just talk about it here and that way there won't be more questions coming in my inbox.

Currently I only accept investments from serious investors, and by serious investors I mean investors who are not looking for a monthly withdrawal plan in a high risk trading account. the last time I accepted retail investors the pressure from investors for monthly withdrawals made me make stupid mistakes that I otherwise wouldn't have made (what happened on gold)

So this time, I won't be doing any of that, so I don't accept investors who want to invest money in the MAM at all, unless they are fine with at the very least a one year commitment to the project.
and because of the instructure of the MAM account (distribution of volume based on equity of accounts), any new investor will have to at least match the mean amount of other investors of the account (currently thats about $5K)
for now, only 1 more investor will be joining in sometimes during next week.
so yeah, I have decided to not accept any new investors in this account unless they have the same mindset about investing in it as the other investors.
I apologize for the inconvinience.


in an unrelated note, I'm still working hard on the educational video course and will put it on my website (linorth.com) as soon as I finish it. I'm trying to make it as comprehensive as possible to cover everything a newbie will ever need to know in order to make consistent profits in forex market.
so some good things are on the way ;)

Thank you all for following this channel and the support you always show me, I dearly appreciate it

Regards
-Linorth

I was waiting this week for my other investor to join the MAM and she just joined the account.

now I will wait for tomorrow's news on talks between US and China to see how that goes.
but keep in mind, as long as US government is in shutdown mode we wont see any significant strength on USD. and on top of that, if the talks go positively, the apetite for risky investments will raise again and we well see a rise in price of commodities like oil.

but for now, dont try taking heavy long trades on USD until this government shutdown thing is sorted.

its #Brexit vote today, so we should witness some crazy volatility in the market.
I tried staying out until after the brexit vote, but couldn't! so I decided to bet against the deal and short #GBPUSD pair in parts to give myself a 1:3 risk to reward bet.

the vote is less than an hour away and this pair has already fell for 150 pips.
if you dont want to risk being in the market when they announce the result of the vote, now is a good time to save your profits and close out.

I closed out of GBP myself. just in case you are wondering.

Im trying not to bet on things anymore and stick to trading my own method.
still scalped 200 pips off it today so thats enough for me.

ok the deal failed as expected. I sold #GBPUSD again at 1.28100 after it jumped up.
so I will leave with one running with the same sl and tp as the image I sent a couple posts ago.

my 1.298 order got activated and i saved the profit of it. I still expect another push up so just put a sell limit back in that price 😁

did you guys enjoyed my channel-like lines on this chart? Im working on an algorithm that helps me find price levels where the reversal is very likely and these lines are result of linking up those price points.

Im still about 10 to 30 pips away from the exact price pivot point (tip of the shadow of last candle) but Im tweaking things and backtesting to get it as close as possible and more accurate (fewer levels with stronger reactions)

I feel like Im 👌 close to hitting a gold mine 😂
currently thinking about testing my algorithm as a binary option trading tool. even tho I dont like binary options my algorithm gives precise enough levels with strong enough reactions that can potentially be used in low time frame binary option betting. will need to back test some strategies and see if I can make it work.
if I make it work I will probably open up a separate channel for sharing binary option signals for those of you who dont have enough money to do actual trading. we can look at it as a game (which is what it really is)

anyways... wish me luck😅


have a nice weekend everyone. ❤

Early movements in asian markets indicate a minor decrease in USD strengh and minor strengthening of other currencies.
GBP exoerienced the most strengh in early hours.

are there any americans here who use robinhood for trading stocks? if so, please send me a message by clicking on --> @Linorth
I cant sign up for the platform on the count of being in Iran, so I was wondering if we have anyone here who can create a demo account for me to test it out.

ok. its been pointed out to me that they dont offer demo accounts. which to me sounds super weird!
having a trading platform and offering no way of testing it without putting down real money seems like a weird approach. almost makes me feel like there is a catch in there somewhere!
oh well. never mind then 😅