alifari's Blog

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DAY 3 - WEEKLY REVIEW OF TRADES

Although I prefer to spend quality time with friends and family on weekends. In recent times, I take out couple of hours on Saturday's and made a habit of reviewing and replaying recording of trades made during the week with a focus on:
1) What you missed and specifically why
2) What you did well and how you can do more of it
3) What you did badly and how you can prevent it happening again and also whether you can turn it to your advantage by doing the opposite
There is zero chance any trader ev…
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DAY 19 - ANALYZING PAST TRADES

"We all make them, the difference is what we do after we make the mistake, how we see the mistake - a learning experience or a failure." Catherine Pulsifer"

I think in order to survive in trading business, we have to regularly review our past trades and analyze, as to how we could improve our game and become consistently profitable and achieve our weekly, monthly, yearly goals.
I usually review my trade plan and analyze my trades on weekly, monthly, quarterly, yearly basis to identify my weak…
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DAY 13 - USDJPY & AUDUSD TRADES UPDATE

"Education does not end in school. To be successful in life or trading we must never stop learning. The market and the world are constantly advancing and changing and the only way to keep up is to keep learning"

Couple of trades entered on Wednesday, one closed at breakeven and another with 68 pips in profit. Here are trade reasons:
Trade 1 - USDJPY entered a buy limit order at H1 demand zone with around 100 pips stop loss and 200 pips take profit target. There was immediate reaction from the zo…
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DAY 22 - TRADES UPDATE

Finally opened couple of trades yesterday in trader contest account. First one was EURUSD sell limit order based on retracement to Daily Supply Zone. Stop loss was placed above the bearish bar and take profit target was set at last demand level. However, closed trade little higher than my planned take profit due to weekend leverage. Final trade result +106 pips.
Second trade was EURAUD sell limit order at H4 supply zone. There was some initial bearish reaction within the zone, however buyers wer…
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DAY 22 - GBPAUD & EURAUD TRADES UPDATE

"Keep your ego & emotions aside and then analyze charts and you will see it from different perspective. It doesn't matter whether you missed a trade or you win or lose. Observe price action, make your notes and prepare yourself for the next opportunity. Study every day with the aim of being better today than you were yesterday."

Couple of trades triggered this week and both closed in good profit. It's been an eventful couple of weeks for me and current equity is around 281K
Both GBPAUD & EURAUD…
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DAY 15 - TRADES UPDATE

Couple of trades triggered this week and both closed today in profit. First trade was USDCAD which was entered at higher time frame demand zone with lower time frame bullish price action. Take profit was set much higher but decided to close trade with +122 pips due to Friday and there is an important meeting scheduled for Sunday in Doha with regards to Oil Production. As such plenty of whipsaw price action expected when Markets open on Monday.
Second trade was GBPAUD, this trade was also taken a…
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DAY 20 - HABIT OF REVIEWING TRADES

Although I prefer to spend quality time with friends and family on weekends. In recent times, I take out couple of hours on Saturday's and made a habit of reviewing trades made during the week with a focus on:
1) What I missed and specifically why
2) What I did well and how I can do more of it
3) What I did badly and how I can prevent it happening again and also whether I can turn it to my advantage by doing the opposite
There is zero chance any trader ever had a perfect week regardless of money…
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DAY 12 - TRADES UPDATE

"You have to know your setups and their probabilities. Then, once you see them you must act with conviction and without hesitation"

Couple of trades triggered and closed today. One winner and one loser, but the important thing is both trades were taken with pre-planned stop loss and take profit and both trades closed without any interference, once trade was triggered.
Trade 1: GBPJPY sell limit order triggered last night. The trade was based on Daily supply zone and after such a huge bullish mo…
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DAY 9 - GBPUSD & EURUSD TRADES UPDATE

Couple of trades triggered today, GBPUSD entry was based on H4 demand zone and the trade was triggered after FOMC Minutes and GBPUSD continues to weaken after the news event. Was expecting some bounce from this demand zone, but there was no bullish reaction from this zone and price continues to fall after BoE interest rate news event.
EURUSD buy stop order entry was also based on H4 demand zone, although the demand zone was not fresh, but was expecting some bounce from this zone.
At present both…
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DAY 28 - TRADES UPDATE

As expected we have seen range bound price action on USD based pairs, as traders are awaiting for an important FOMC statement and interest rate decision tonight.
Couple of trades taken today both ended up hitting my set take profit target. Here are trades summary:
1) USDJPY: Placed a buy limit order based on false break of historical SR flip level and recent lows. Price came back above SR level and consumed last supply zone (black line) and created a fresh demand zone close to SR flip level on M…
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