First of all I would like to say thank you for all of you Guys, who encourages me daily, this kind messages makes my days better!
Hereby I would like to paste a disclaimer, which is concerning to all of my analysis! I am aware that it seemingly just takes the place on the page, however it is very important, and please keep that in mind!!!
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Mihály Csapucha expressly disclaims all liability for the use or interpretation by others of information contained in his all analysis. Decisions based on information contained herein are the sole responsibility of the visitor, and in exchange for using the information contained in all his analysis the visitor agrees to hold Mihály Csapucha and its affiliates harmless against any claims for direct, or indirect, damages for decisions made by the visitor based fully or partially on such information.
Whatever is the manual trading method, or the automated trading strategy, don't forget to test it first in demo. Also be aware that past performance is no guarantee of future results.
Now we are done with the obligatory part let's see how to pull out the max from my daily analysis. Please keep in mind that I am also just a human I can also make mistakes, and there is now 100% or certain things on forex market!
I release my analysis daily around 7 am (GMT+1, Brussels, Rome, Berlin, Budapest), now let's see it looks like!
The first arrow always means the current direction of the market, which I expect to continue at least until the first yellow line. If you are an aggressive trader and the blue zone is far from the current price (!!!) you may take this trade against the expected trend, but this is risky. For this trade I recommend a tight SL, so if the market turns before I expect you will not lose, much and you will still have the chance to reverse!
At latest when the price touches the yellow line or if you see the signs of a turnover then before the touch, because the touch may not happen, you close the opposite trade/trades. Now it is time to reverse at make a trade in the expected direction of the market.
You should place your trade within the blue zone to maximize your profit, however there is no rule when to buy within the zone, so if you buy within it should be good. If you use SL please place it some pips below the second yellow line (out of the blue zone).
Once the retracement done it is time to close your positions! Please do not wait for a homerun every time, it could be only some pips at a time. There are no strict rules for exit, however I really recommend to use the exit points of the PRO-TRADING STRATEGY, as the analyses are based on that strategy, the exits offered in that strategy will be suitable!
At this point you may wondering why there are exactly 8 pairs daily, the answer is correlation! You can take the trades together once 2-4 pairs hits their blue zones (also base on pro strategy), there could be a temporary loss, but hopefully the market will turn appropriately to my expectations! ;)
Hereby I would like to draw your kind attention, that my analysis are based on my expectation and as I do not see the future (unfortunately :) ) can be wrong, thus:
ALWAYS USE STRICT MONEY MANAGEMENT, IN ANY OTHER CASE YOU MAY SUFFER SERIOUS LOSSES!!!
As for closing I would like to say special thanks for Navin Prithyani if I can say our mentor, who made all of this to came real. During the last seven months I have seen people to become intermediate or even advanced traders from nowhere, please believe this just not happen everywhere... If you have chosen urbanforex.com to start your forex carrier or just to learn, how to make some extra monthly, you are on the right track! ;)
All the Best Guys!
Thanks for sharing your insight Mihaly!!
Of course it is great to have mentor like Navin but you also provide a great resource to this forum.
same from me mihaly, thank you for sharing, having a good mentor is great, but i find it equally important that there is an interactive community here, where people like you, sadar and others share their insight and we can learn from each other. cheers
Thanks Miahly, this makes understanding the analysis simpler and easier to implement.