This is an example of missing to check all time frames before entering a trade. I entered only by seeing the weekly chart and didn’t fine tune my entry by looking at daily chart. This is the weekly chart. A very good pin bar is formed and candle has crossed the emas. though I must have entered at the close of the pin bar and that would be a much better entry.
This is the daily chart and as it’s pretty obvious, there is no signal present. and as daily is my main time frame, I made a deadly mistake taking this trade.
This is a trade I took in daily time frame in XAUUSD or Gold vs US Dollar.
This signal was generated by my first system. The entry signals are as follows: 1. Candle must open above both ema=3 and ema=8. 2. Candle must close below both ema=3 and ema=8. 3. Stochastic (14,3,5) must be in Overbought area and crosses down. Upon opening next candle, I entered. Stop Loss was at High of the Candle that crossed emas. The R/R is 1/3.
I entered again at the break of candle below both emas in H4 timeframe. But, the candle formed a pin bar.
1. Signal Accuracy: 90%. I entered exactly as the signals, but a
When it comes to money and economy and becoming wealthy, It seems most of the people have a vague idea about how economy system works. They only look at interest rate in the dollar amount that they have to pay back, which is actually right, but they really don’t have any idea how the government steals their wealth by injecting inflation into the system. In this post I want to explain what inflation is and how it works in very simple way so everybody with any amount of knowledge understands it and uses it in his/her advantage.
A little on history of inflation
in the old days, before we have Federal reserve (FED) or any central banks, the price of the goods and services was determined by the supply and demand in the market. Though in short periods of time, kings
There are many books on personal finance today that explain and promise to show you how to get rich through spending less, saving more, investing and …. . But perhaps none said it better than a book published in 1937. Napoleon Hill, who lived through Great Depression and was an author and former advisor to President Franklin D. Roosevelt, interviewed “more than five hundred of the most successful men this country has ever known” to figure out the key to their good fortune. Andrew Carnegie was the man who advised Napoleon on finding the secret to success and teach it to people. The first draft of the book was 6 volumes and about thousand pages which was very hard for many to read all of it. So, he wrapped all of his insights in a 200-page package and published “Think and Grow Rich,” which went on to become one of the
If you want to know how money is created or why rich get richer and poor get poorer, I explain everything about Financial Literacy and Money Creation in these series of posts. Please read all of them to grasp the idea of how monetary system of the world works. . Welcome to the second part of Financial Literacy series ( read the first part here). This part is about Central Banks and Specially Federal Reserve Bank of America, how they came to existence, who started them and what they did.
Money of The New Age ( Continued from the
I was reading “Think and Grow Rich” by Napoleon Hill. Beside the all great points and secrets he mentions about successful people, he summarises the all secrets into three main ones: . 1. #Definitness of #purpose . Consider you go to your bank and tell the bank teller and ask her to give you a lot of money. She asks you with surprise: how much do you want? And you say a lot, the more the better… You can’t expect to get anything from the bank if you can’t fix your mind on a figure. How Much? Life and universe work in the same way. There are lots of people who want many things including a lot of money, but if you ask them how much do you want? They can’t give you an exact figure.