Why You Lose Money in Forex


Why You Lose Money in Forex

Today is Friday, which means that it is time to summarize the results of trading according to the Sniper X strategy. Although the forecast was not released on Thursday, entry points were still formed, our traders and their students were trading, so there is material for the final analysis of flights. 

I'm sure many of you have difficulty identifying patterns. You find them on the chart, but you do it after it has been worked out, or you hesitate to take the models into work. This is a normal beginner's condition.

You need to "get your hands on" in working with charts, and only constant practice will help with this. So if you have already completed the Sniper X training, just keep working on this vehicle. Over time, you will not even need the markup; you will perform constructions literally in your mind.

Well, if you are still struggling with doubts and cannot take the first step, start with a free training course on Sniper X. We do not require any money or registration anywhere from you, just leave your email using the link below, get video tutorials on it, study them and then decide if this style of work suits you.

 

Live Deals

The efficiency of any strategy is best evidenced by the deals made with its help. From time to time, we conduct online trading sessions, when traders of the Forex Academy analyze the state of affairs on different instruments all day and, if conditions arise, open deals. Viewers copy them and earn.

This time we will analyze 2 trades, let's start with XAUUSD:

  • daily timeframe - the figure shows the accumulation-distribution zone. It turned out to be quite long, there was a sharp exit from it by a large candlestick with small shadows and testing of the upper border. This indicates the priority of purchases;
  • hourly chart - at the time of online trading, the resistance line built on the latest highs was relevant. It can be used, for example, to fix profits on long positions;
  • on M5 we see a reluctant downward movement of the chart. There is a reaction to the resistance line from H1, but the XAUUSD chart does not break through support and does not go down. After the formation of a reversal pattern and fixing the maximum of this pattern, a buy trade is opened. TP is set at the level of the resistance line, the profit was 228 points with an SL of 128 points.

Now let's move on to the USDCHF pair:

  • examining the situation on the daily chart. We select the resistance zone on it, the chart approached it for the third time, tried to break through and failed. This indicates the priority of short positions;
  • with the third approach of the USDCHF chart to the selected resistance, an M-shaped structure was formed, that is, the breakout turned out to be false. In early November, there was also a consolidation under this resistance, it was possible to open short positions;
  • since there was no instant working off of the pattern, we are looking for opportunities for sales. On November 6, after an unsuccessful growth attempt, the chart drops below the lower border of the resistance zone, there are reasons for selling. The SL for the deal was 29 pips, the take profit is placed in the next zone, where the interests of buyers and sellers collided. TR was 87 points and the deal was worked out 100%.

Consider the same logic when analyzing markets. Review the online trading record once again, adopt the method of finding entry points from our traders - this is a good addition to training.

Signals worked by daily analytics

Although Thursday fell out of work, the 3 entry points still worked well:

  • Coffee - in the picture below, the key elements of pattern 5 are highlighted, it is perfectly formed, so everyone had to take it into work. With an SL of 214 pips, the partial fix yielded 214 pips on the first TP and 450 points on the second fix. The remainder of the transaction was closed manually for the reason that they did not reach the TR Safe deposit box set by the rule;
  • USDJPY - at night, an M-shaped pattern was obtained with the formation of an imbalance in the resistance zone. SL is only 8 points, and it was possible to earn 33 points on this deal - the profit was fixed according to the take profit from the forecast;
  • EURNZD is the same pattern # 5, but this time it worked 50%. They did not reach TP, but when using the Safe rule, they reached the first goal and earned 26 points, with the SL being the same 26 points. After that, the stop should have been at breakeven, where the chart later hooked it.

The patterns in Sniper X are really simple. After a little practice, they begin to literally catch your eye, even without the markup, you will notice them on the chart.

Please note only that you will not find all the materials on Sniper X in free access. We analyze some of the entry points, but you will receive many times more materials only after training in a special course.