I welcome all the members and nonmembers of Investsocial to the new website, the website is now active and I love the blue colour used for the background, it's my colour.
The USD index has not hit the 97.00 mark, it has not stopped attempting to get to the level either, I took the advantage of the buying trend of the USD index on GBP/USD and it has been productive since then. The trend may begin to lose power when the USD index shies away from the 97.00 for the second time, next week maybe a selling week for the USD when that happens. From what I see presently, the selling of GBP/USD goes with comfort, which is my only deal since yesterday.
Friday’s Economic Events:
Friday has economic events as little as what was announced on Monday. Four economic events are present and two of them has been decided upon and are negative for JPY and Positive for AUD. The two to be decided may be neutral for EUR and CHF according to economists and none of the news has links to GBP/USD.
My Closed Deals:
Gold made me suffer what I did not want to suffer, it was my first experience of trading gold, it was not a good one for that matter. Gold lost $2.62 in my account but I was smarter to close the deal before it would make me lose more. The decision was a good one, which limit the loss and I later recovered it.
My live Deals:
I have been compensated by GBP/USD’s deal, it has paid back the loss of $2.62 suffered from trading gold yesterday. I lowered the risk to 0.05 lot and the multiple deals were opened at 1.3305 and 1.3306. Some earned $0.90, some earned $0.85 and one earned $0.80, the positive deals have also increased my equity to $27.54. I want to watch the deal for some time, it is sure that I will close every one of them today.
Last edited by Microtom7; 26-11-2021 at 09:42 AM.
Reason: I corrected wordings
I hope you are enjoying the technology of InvestSocial, I sure enjoy it here, it seems the website is faster than the MT5, many things are to be perfected and more time is needed for it to be done. It is a good experience to end this week as I began it, it was mostly successful with a few losses, the experience has unveiled the trader in me and I foresee myself in the upper rank of traders in the world in a few years. I play with the market carefully and with low-risk irrespective of the market condition, such makes the reason for my multiple order closure in consistent profits, it will keep going like that. This week was great to crown it all and a withdrawal was successfully executed in my account.
First Withdrawal was Executed:
I received my first withdrawal yesterday, it was the reason that stopped me from trading beyond the morning time. The first withdrawal request through Bitcoin was declined, I chatted with the live support of Instaforex for the reason and I was told that I needed to use another payment system aside from the cryptocurrencies.
I was given the options of Skrill, Netteller and Payco, I chose Payco because Skrill and Netteller are as good as dead in my country, their exchange rates are very low. I can still transfer Payco to a useful payment system for a better exchange rate. I requested the withdrawal again and it was processed, the $11.10 requested was credited into my Payco wallet yesterday.
Running Deals in my Account:
Nothing is far from merely playing with the Cardano’s deal running in my account, I don’t have the justification for buying Cardano when I did, except for the selling it had since last week, it’s time for it to find the upper prices. I bet a momentary buy position at 1.56906 and did not use a lot beyond 0.01. Cardano is exhausted, it is time for it to climb this weekend.
Cardano’s 1D timeframe outlook is in an obvious selling mode, Cardano is below 1.73622 of MA-10, the expectation is for it to fall. On the second thought, it may go back to hitting the 1.73622 before selling as it needs to take a breath from the exhaustive condition, which is the basis of my buying of the cryptocurrency.
Learning is in phases, the same is life, I didn’t like to hear anything about trading in the past, thinking it was gambling, time has changed me. I realized over time how interesting trading is, I now like to be with my trading platform to make regular analyses and it seems trading is becoming part of me. The reason for this is the consistency of earning in my account and the withdrawal made last week was a good experience. I want to do more to prove to my fans that the adequacy of trading is in my blood, but it proving to be on hold temporary with what the Cardano has caused for my account. I knew Cardano was on a downtrend when I bought it Friday night with the thought that it would take a breath to buy temporary, but it’s not doing that. I have to lose more before it can be in an uptrend, which prepares me to brace myself and the news of a broker delisting Cardano is one of the reasons it falls, the falling might take longer than expected.
Live deal on Cardano:
The $0.88 loss on Cardano is an extent of the price movement against me, I bet Cardano with a low risk of 0.01 lot, the loss should be little if not for the vast sell in the opposite of my position. The plan I have this week is to rely on other instruments to reduce the loss, the forex pairs will save my account when the market opens tomorrow. That is how I can trade with a good lot size that can counter the effect of losing via Cardano.
Nothing much is to be said of the Cardano than I underrated the sellers, the 1D timeframe of Cardano is in a downtrend and it has no promising price of stopping the selling. Cardano is comfortable below the lower boundary of 10-MA that can be found at 1.70155 to make the matter worse for my deal.
The market has been flogging me, my account's equity has reduced from whence it was when I completed a withdrawal on Friday, it has dropped to $13.18 from above $16. No success has been made since Friday, traders face this kind of circumstance in trading, I cannot be earning all the time, the bad phase will pass and will return to my regular earning days. The inability of it to ruin my account is my focus and I prepare to fight to the last. I won’t let this stop me from continuing with the low-risk trading, the style has been my strength since last month, I may increase the risk when the unmistaken opportunity is presented again. Such moments are not common, it’s right to keep my risk low like last week.
Monday’s Economic Events:
This Monday is better than last week with the news prepared for the day. The decided news is positive for AUD but negative for JPY, the next to be decided news may be negative for EUR and GBP but positive for CAD and USD according to economists. This news may add a little volatility to the market but it may not have an outstanding effect on cryptocurrency traded.
Running Trades in my Account:
Fear has led me to trouble by betting a sell position on Ethereum, the loss of $3.06 visibly reflect the mistake made. The sell decision was made when the Cardano’s deal was losing about $2, I quickly rushed to sell Etherum to partially hedge the position. The Cardano’s deal is gaining after the mistake and Ethereum has been buying to mock me, the deal may be closed when the loss reaches $4.
For Cardano and Ethereum:
Cardano has been favoured this week, it has prepared a bullish comeback by the pin bar of the 1D timeframe. The pin bar has the power to make it buy to the level of 1.68270 of MA-10 to see if it can break it and allow it to continue the buying.
Ethereum has disappointed my account, it has breached 4278.78 of the MA-10 to give a buy trend signal. The level is of 1D timeframe which has a bullish influence over Ethereum to climb to above 4500 in three business days.
Trading has shown me this week that it is not easy to be profiting with it for long, downtime will surely come at times, the approach we apply to it makes the difference. Low-risk trading is the best approach I know, I have been using it since 2 months ago with excellent results. It naturally manages the account and affords me the means to survive easily irrespective of the conditions displayed by the market. My learning has to continue with a challenging week like this, I don’t have a good week at the moment, every of my completed deals is at a loss, but my account is intact and not stressed due to the losses. The last day of this week is far, enough time is within it for many things to happen in my favour.
Tuesday’s Economic Events:
Tuesdays are usually packed with a high number of economic events, this Tuesday is not an exception, many news is to be decided and will impact many currencies. The already decided news is positive for NZD and JPY, negative for AUD and neutral for CNY. The expected news may be negative for CAD and CHF, and positive for EUR and USD. My conclusions are based on the economists’ data and the actual data and may not have serious consequences on cryptocurrency traded.
My Closed Deals:
Ethereum’s deal was closed yesterday, it’s lovely to have done that to manage my account properly. A loss of $3.04 should probably be the highest have suffered in my account since my coming back to trade. I can’t say it is unacceptable, what I know is that trading is full of ups and downs and my readiness for any trading condition is intact.
My Live Deals:
I did not close my Cardano’s deal but rather included Chainlink and Uniswap deals in my running deals. My running deals have totalled 3 in number, the deals must earn me income before closing them. They were all making profits yesterday but has changed to losses today, no need to be hurrying for gains as I have many days to run them into success.
For Chainlink and Uniswap:
I conclude that Chainlink wants to take a breath from the outstanding bullish performance of yesterday by selling today, the downtrend won’t be taking long. I can’t wait for it to breach 25.56 of 1D timeframe MA-10 to settle for an uptrend.
Uniswap made be buy it yesterday with the uptrend thrust that has not completed, I want it to breach 20.293 of MA-10 to assure me of that. The level is 1D time frame level that holds the key to a long term bullish trend of the cryptocurrency.
Many activities that I did not expect this week keeps occurring, besides the fact that I could not earn, the market has been funny and moves up and down so much that both the buyers and sellers could make money in a gambling approach. I don’t do that, but my confession is that I was so afraid yesterday when almost half of my account balance was gone and I became so helpless. Everything is normal again, my gladness is that I did not make a bad decision when I faced the harsh market of yesterday, my trading focus was to buy Cardano, Uniswap, Chainlink, EUR/USD and GBP/USD, those were exactly what I kept and things are changing to favour me. The story may seem easy with anyone reading it but it is a lesson to me to be brave and firm in trading.
Wednesday’s Economic Events:
The economic events prepared for today are more than the past days of this week, the decided ones are positive for AUD and GBP, neutral for JPY and negative for CNY and NZD. According to economists, the yet to be decided news may be positive for EUR, negative for CHF and neutral for GBP, USD and CHF. Still, the market may survive this news without having a major impact that may change the trend.
My Closed Deals:
A trade of GBP/USD was closed in error yesterday, it was an error of finger that led to a close of $0.01 in a loss. I needed to mention it to make my account update fully transparent. The rest of the losses are for rolling over three deals of Cardano, Uniswap and Chainlink.
The Running deals in my Account:
My equity has changed to $14.44 with the effort made to include EUR/USD and GBP/USD in my running deals. I earned from the deals yesterday due to the favourable level of entry of 1.1348 for EUR/USD and 1.3338 for GBP/USD, the multiple deals has 0.01 lot each and it was not long when it changed to losing and may soon again changed to winning deals before the US session. The Cardano, Chainlink and Uniswap deals are comfortably running in profits, it’s time for me to be patient with the deals to earn quality income.
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