Forex Patterns | Today's patterns
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Well hello there.....
Errol here..
In today's video I have gone over 2 forex patterns and would like to share that with you. Not only is this video part of my weekly forex forecast but also something special which I try and share with you every single week.
One of my forex patterns which I went over with you is the AUDNZD H4 timeframe Bullish Bat pattern that I am monitoring.
Look I am not saying that this pattern will definitely complete but what I do want to do is just give you a quick overlook of the markets for the upcoming week.
One of my forex patterns that I also shared with you was a bearish bat pattern which completed and unfortunately I got stopped out for a loss of 131 +- PIPS. Now I know that is a lot of pips but believe me I had a good 2 weeks that passed so its not so bad.
Like a said in the video that every single trader out there takes losses no matter how good you are. You can be a professional trader at a bank, hedge fund or you can be trading by yourself for years. Every single trader out there takes losses.
You will experience a Drawdown and believe me its not nice, but if you have backtested your trading system and you know what it produces then you will at least have some comfort when it come to you going throug a draw down.
Never ever trade life money or anybody else's money if you do not know the results for your system and by that I mean your long term as well as your short term trading.
For me who is a advanced pattern trader I have been through thousand of forex patterns and I know what works for me and what does not work for me. NOW you must remember that No matter how good your system might be you must always keep track and still backtest your own system. WHY?
I will tell you why, cause whatever works now might not work a few year from now Believe me.
So I really hope that I at least helped you with something in this video and that you will follow me and let me help you if you need help by sharing all my knowledge with you so that you can apply all of my things in your system and in your life of trading.
That was it from me for today and feel free to check out the rest of my videos on my youtube channel.
Best Regards,
Errol Muller
Forex Pattern | Advanced patterns | Forex advanced patters | advanced pattern trading | Weekly forex Forecast