Obinx 2020

There are going to be some updates to Obinx over the next 4-5 months so things are going to be changing around. Ready for a 2020 launch.

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Obinxer Trading Help

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  • Obinxer Trading Help

    This is how I see when you should use stop losses and take profits. It all depends on your analysis.

    - Scalp trade - No SL and TP. Manual Close
    - Intraday Trade - No SL and TP. Manual Close.
    - Day Trade - TP and SL
    - Longer than Day - TP and SL

    -- Away from Desk for an amount of time. SL and TP
    You see the thing is if you're sat at your desk you can manually close and you don't need an SL or a TP. You have to remember if you're sat watching the charts you are in control of closing out and re-entering etc. For instance, if you are scalping along and you see it become a major short now. If you have a TP you can get into the "frame of mind". I'm not closing till it hits my TP whereas when you don't have a TP. You stay in your long. Do a short and then if it shows actually short movement towards your original buy you remove it. or you close your Buy and now in the short and follow the flows.

    The best advice i will give you and make sure this sticks in your mind above all else is this "the market is dynamic each and every day so you have to have a tool set that is dynamic each and every day". This is why some days I am. TP and SL and others I'm not. You can't have 1 trading tool kit that will do you every day.

  • #2
    Here is a good reason why holding a order over the weekend can be good or bad. Here is GBP/USD on the M1 chart. There has been a 69.6 PIP gap on the open for the Forex Market

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    • #3

      You don't need to trade multiple pairs. The more pairs you trade the more risk you apply. Just focus on a couple of pairs and stick to them. Trading with the mind set of "catch all the moves" doesn't work. Due to trying to catch all the moves you overexpose your self to trades. Instead of trading multiple pairs. Use bigger volumes on the pairs you do want to trade

      Your next trade is the most important trade you will ever make

      The more you put into the market the more you can loose, the more you put into the market the more you can make

      Leverage is like horse power in a car. You don't need 500BHP in a car. You're not going to use it "all the time". But it's nice to have it there when you're able to use it.

      Knowing when to use it is the key to being able to trade "consistently" with high leverage
      At the end of the day. Trade and make what you want. You're not showing off, so make what is comfortable for you. Also remember. To make big money you've got to have big money

      But it's good that trades get stopped out. It gives you clear eyes on the market. "Clear eyes = clear trades". Rather than trading in the hopes that it's going to be going in your favour for you to recover losses on a trade.

      Don't try and predict what the market is going to do let the market tell you what it's going to do

      If you can't afford the risk you can't afford the reward

      It's a crawl then a learn to walk and then a learn to run and then a know when to walk and when you can run.

      The market doesn't care about my money or emotions when trading. So why should I

      Stop thinking about others and how they trade and you need this or you need that. Trade the way you know how to trade. Remember, there isn't a right or wrong way to trade. So you might as well have your own version of right and wrong.

      I no longer say long and short to my self. I say "Plan A" and "Plan B"

      "But the problem is when you're hope trading it blanks you from what is actually going on.

      Also when a trade is loosing I start to analyse my risk. Granted I might have to get in again. But it means I'm seeing the market with clear eyes rather than hoping eyes


      • #4

        This is also why I'm long when people are short or short when people are long due to me trading "what I see". You can every line marked on a chart. But candles move in a set manner. It's only news that drives price action away from patterns. The market always flows in a set manner and also defaults back to the mean price. That is what retraces are. And that is why you can enter shorts on top of retraces and have a killer short trade or visa verse because the market has found the mean price and now trades away from it. The trend is your friend because a trend is the mean price of a direction either up or down. and the only time a trend gets broken is due to news or sentiment or the price action is now pivoting. But the main reason a trend will change is due to many many factors. The sentiment, retracing, analysis, higher time frame analysis. But it's not always the same thing for each trade. This is why I love following the price action. Because the price action and understanding and know what each candle means for the next candle means technically you're killing your risk. Because if you sell at tops and buy at bottoms it means if there is a spike you're either at the bottom or the top of it. Because you're following the price action and news tends to spike in the direction of price action like we seen with EU yesterday.


        • #5

          There isn't a perfect method to trading, nor will there ever be. Trading is like a "wild horse". (have a look in #obinx-trading-help near the top I explain the "wild horse" analogy) but you can have a certain dynamic toolbox to help you be on your toes and ready for the unexpected when it arrives. Trading is also determined by how much effort and time you want to put in. For me, H1 is perfect because for me it's the "mean" time frame. If you take a look at H1. H1 is a great explanation of being either tops or bottoms of trends. You could use M30 and use that to get you at the tipaty tops or the bipaty bottoms but for me, I want to be at the top or bottom of candle print direction and for me, H1 is the way to go.

          You also have to remember not everyone trades the same style. So I could be long and someone is short but I'm long due to it showing long and then short when it shows short. Remember when you long but its short sentiment you're being long is someones stop loss. A lot of people set 30/40 pip stop losses and that is why they short where they do and it comes back and is the direction they want to be. But for me, I love using price action to be at candle print tops and bottoms. Everyone trades differnt and when you understand that it helps you out a lot. Because I don't want to enter a trade and give it 20/30 pip stop loss or use ADR to help me with a stop loss i want to enter and give my self maybe 5-10pip stop loss and only add a stop loss because well if it hits my stop it implies it isn't a top nor is it a bottom etc. There is a whole host of other things you have to take into account too. But the main thing is not everyone trades the same and that is why there are so many opinions on how to trade "right". It's finding what works for you and then fine-tuning it to perfection (for me anyway). And just enjoying the journey on the way.


          • #6
            Put a sticky note on your desktop where you can see it more or less all the time till you learn to repeat it without seeing it type of thing. The reason it's called "Hard Did" is because of a phrase "Hard Done By" it means "harshly treated." and if you don't follow the guidelines that is what will happen to you.

            Trading Guidelines "HARD DID":
            H - Has it followed my analysis or is it hope?
            A - Are you holding onto loss because of hope?
            R - Right you're being fucking stupid again?????????
            D - Don't try and do it all at once!!!

            D - Do your trading then close MetaTrader!!!
            I - If you missed your get in wait for the next one!!!!
            D - Don't lazy trade. Do it right 100% of the time!!!

            - You've got todo what you've never done to achieve what you've never had.
            - If you do the analysis take the trade. If you're not willing to take the trade don't do the analysis.


            • #7
              Open a demo account and just get learning. Doing mental analysis. Look back though the charts at how the candles formed and learn from it and apply it to what is currently going on. Learn to loose and analysis why you lost. why did you loose? what did you miss and how can it be avoided. also when you win do analysis on why you won. What did you do. Did you follow a support point or resistance point. See problem is everyone things it's all about winning it's actually the opposite. The less you loose the more you succeed. So it's about learning how to avoid losses. Don't worry about being successful or profits. Worry about not having looses and the profits/success will look after it's self.
              Forex is a journey not a destination. You're constantly learning and you take what you learned yesterday and apply it today and so on. You're forex journey is going to be like the charts. Ups and downs. You're going to loose it's going to happen. Forex isn't about winning. It's about having minimal looses.

              This is why sometimes i take a 4 day weekend or a random day off etc as i know how import brakes can be for the mind. Doing the same thing each and every day can create tunnel vision and a tunnel mind. You need to allow your mind to focus on other things (for me games) to allow your creativity and for your brain to relax. 100% all the time is how you burn your self out.

              Here is something I've learned. When you are feeling restless or all over the place with your trading. I.E not knowing the direction or fluttering and being indecisive here is how you cope

              You're emotional response sees risk but your analysis lines up for the entries you've applied to the chart. It's time for patience and experience. The only way you're going to get though what you're feeling is by implementing strategies that you've learned. I.E; regulating your breathing, staying calm. Keeping your cool and following your analysis.
              Also, one thing I've noticed. All the money you've lost. I know it's hard to-do this.

              You have to forget about it. It's lost money. Get over it and move on. How i dealt with this was a new trading account and moved my money into it. New balance etc and deleted my old ones. I just accepted that the money was lost. You will loose more chasing the money "lost" money than you will making new trades. As the old saying goes "You've got to let of what was to let what is in"
              The market as I call it is a "wild horse". You try and tame it at the begging but it just kicks your arse. But you have to learn how to tame a horse first. and once you do that you can then ride the horse but remember. Doesn't matter how much experience you have the horse can still kick you off. The horse has moods too and once you learn how to handle the horse each day you learn to become "experienced" and understandable of the horse (markets). It's your job to learn how the horse (market) is feeling and then you know what type of toolkit you need for that day.


              • #8
                Go to "account history" and change it to just daily history so you see each days history. When you trade just the day all you need to worry about is the current day. Not the bigger picture witch is what you see when you have "all history". It's just i've seen you talking about. Getting back what you've lost and so on.

                Personally you shouldn't trade like that. Because you will never get back what you've lost and that's well impossible all you can do is make "new money" to remove the loss you've come to have. Instead of focusing on the bigger picture break it down to just worrying about each day and then all you need todo is worry about the day trading.

                Also this well help you begin to see what is and isn't working much faster as some days will be + and some days will be -. And this allows you to go. Ohhh so this works but this doesn't. Doing this means you only see the trading you've done today. The bigger picture (account balance) doesn't matter. Because when you trade each day. Each day is a new trading journey and with it's new set of challenges and looking at the bigger picture can kick you in the put as it can make you over trade to try and "break even" the balance.

                But when you focus just on the day you see it working or not working and it allows you to really knuckle down and get things into shape to get things to more working rather than not. Focusing on the little steps (each day) will help you get to the main goal. Let the balance look after it's self. All you need to-do is focus on having successful days and them successful days will add up. Of course this only applies if you're trading each day as in. Exiting and Entering trades and not holding trades over to the next trading day


                • #9
                  If you intraday trade you just want to have it set to "today" at all times. I don't care about my "overall history" i care about each day history as i see it. Was this day down or was it up and that helps me understand what works and what doesn't. Because of course trading each day is a new challenge. then what you do is at the end of the week when you close up for the week. Put it to week report and then you can analysis your hole week performance and go.. Ohh so on Tuesday it works but Wednesday it didn't. Why..

                  And then look at the charts and go arhh wrong direction. why did i do wrong direction and then analysis that and then once you've analysed why you failed you then analyse why you succeeded with trades. What did you do right and what can you do to improve the success. Because you always analysis your failures then your success so you finish the week on a good mindset and then start the next week of trading with a mean mindset because you've thought over what you did right/wrong and then you're back to focusing on the day's trading


                  • #10
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                    • #11
                      If you find your self getting flustered with the candlesticks chart. Switch to the line chart until you've calmed down and are able to think clearly again (imagine attached is to switch to line chart in MetaTrader)

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                      ¬ Bit of information on zoning.. You will want to use a different colour for zoning. Zoning is using areas on the chart to help you identify candle flows. You can also use these zones as areas to enter into trades. Though they are mainly used for helping you identifying candle flows.
                      The base for my risk set up (Based on using 1:500 leverage)

                      £10,000 Account
                      - 10 vol = High Risk
                      - 5 Vol = Medium Risk
                      - 1 Vol = Low Risk

                      £1,000 Account
                      - 1 Vol = High Risk
                      - 0.50 Vol = Medium Risk
                      - 0.10 Vol = Low Risk

                      £100 Account
                      - 0.10 Vol = High Risk
                      - 0.05 Vol = Medium Risk
                      - 0.01 Vol = Low Risk
                      Trading Time Frames For Your Trading
                      - M5 to M15 for Scalping
                      - M30 to H4 for day trading
                      - H4 to Weekly for multiple-day trading
                      Day Trading Time Frames
                      - Weekly - This shows you the sentiment direction for your trades
                      - Daily - Shows the direction you're looking to take for the day's movement
                      - H4 - Shows you the sentiment for the day
                      - H1 - Is what you use to help you enter into the market
                      If you want to scalp the news. My best advice makes another MT4 account. Throw £100 (using 1:500 leverage and trading a single 0.01 only) in it or use a demo and learn how to read news data. Here is a couple of tips.

                      ± News data normally follow current flows. Is the H4 at a top or a bottom?
                      ± M15 candle before the news is released. Wick at top means sell, wick at the bottom mean long.
                      ± Is it a dump before a pump or a pump before the dump?
                      ± look at the data release it's self what was it the last time it came out this time of year and do analysis on the data numbers its self.
                      ± look back at the charts to when this event happened last time and see how the price action acted then too
                      NOTE: News trading is 100% gambling


                      • #12
                        It's just part of who you are. Trading fits around you. You don't fit around trading.

                        If you're wanting to quick fire trades you have to be trading only and be ready to close the trade out there or then whether it's a loss or a profit.

                        The big problem I've come to notice is a lot of people trade what they want to see not what is actually going on. Witch is great if you don't mind being in a trade and waiting it out. But if you're wanting to trade and be done you have to trade what is going on. You can't control the direction so follow it instead.

                        The main thing to remember is the trade you enter is based of a couple of key points. Time frame + analysis divided by the time you want to be in trade.

                        So if you're looking to be in a trade for 1 day + you'd look at the daily and weekly for analysis. But if you're just wanting to be in the trade less than 1 day you look at M30 - H4. But if you're wanting to scalp m15 to h1.

                        If you do your analysis on M15 and want to hold the trade for the day it won't work out how you want it to be. You have to do the analysis in the time frame depending on how long you want to be in the trade.

                        Impatience is a simple thing to concur. It's called understanding. If you understand that the trade might take 6+ hours to work you'll be fine until the 6 hour mark and then you will become impatient. Impatience is all depending on the "time limit" you've given your self for the trade to work.


                        • #13
                          There are 4 arrows.. I will describe each arrow from right to left.

                          1st arrow - As you can see we've got a bullish pop from this intraday piviot (price action piviot). This to me shows that a FIB retrace play could be in chance. The sellers have been waiting for a retrace of yesterdays move to jump in

                          2nd arrow - sellers where faked out down here. implies the sellers didn't want to get in here

                          3rd arrow - the buyers started buying in this area (if you look left you can see a flat bottom candle next to this this arrow). That implies to me sellers direct volume rather than intraday volume

                          4th arrow - flat bottom candle like this implies that it's somone holding the market up. as soon as they leave it will go the oppersite. Also like the saying goes "don't trust flat bottom girls i mean candles" ahahahah

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                          (It's not the most descriptive. it's more of highlights to my thought process. This is to show how you can never over analysis if it helps you understand flows to help you enter a trade.)(edited)


                          • #14
                            GBP/USD Daily.

                            - As you can see there was 3 days of bullish momentum before hitting resistance. Where resistance is found is from the "buyers trap" (first red arrow).

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