Ritchie Egam

Effective risk management in forex trading revolves around controlling how much of your capital is at risk on any given trade and ensuring that losses are kept to a minimum while maximizing potential profits. Here are the core principles to manage risk effectively:1. Determine Your Risk per Trade (Risk/Reward Ratio)Risk per Trade: Decide how much of your trading...

Good morning everyone. Today is another beautiful day and obviously I'm super excited for another day because there's opportunity to make money in the FOREX MARKET. Its almost two weeks now that I'm spending my time in the house because I got sprain my legs back in August 26 23 and last week I got my gout which...

Its a new week for day trading. I'm super excited today even though I was lost almost $18 last week. Im not excited to revenge trade but I'm excited of the pattern that I have discovered. Today at 10:36 AM I (1st Trade)LONG EUR/USD because among the group A, he is the only one who is laggard in...

 Currency: AUDUSDDate: September 1 2023Time: 8:35 PM Philippine Standard Time GMT +8Time Frame: 1 minute, 3 minutes, 15 minutes, 30 minutes, 1 hour, 2 hour, 3 hour, 4 hour.Catalyst: Support and Resistance, Market Order BubbleType: SELL & BUYEntry Price: 1.35205 , etcExit Price: 1.36024 , etcStop Loss: No Stop LossVolume: 0.01Profit/Loss: -$17.98One of the Dumbest Trade That I...

 Currency: GBPNZDTimeFrame: 15 minutes, 3 minutes, 1 minutesCatalyst: Support and Resistance, Trendline with BreakoutType: ShortBuy Price: 2.08423Sell Price: 2.08550Stop Loss: 2.08550Volume: 0.01Profit: $1.25Reason for Buying: My catalyst for this trade is to look for support and resistance and trade them if the price touch the support and resistance level(see the 1st chart). For this trade I look at...

Currency: GBPCADTimeFrame: 15 minutes, 5 minutesCatalyst: Support and Resistance, Trendline with BreakoutType: LongBuy Price: 1.169157Sell Price: 1.169226Pips: 6.9 Volume: 0.01Profit: $0.52Reason for Buying: For this trade I look for support and resistance ( more than 100 pips as you can see on the chart on green highlight on the 1st chart). My plan is to touch the price either...

 Buy Price : 10.20 (July 27 2023)Sell Price: 9.8 (August 2 2023)Number of Shares: 25000Gain/Loss: -6730 pesos OR -5.06%Catalyst: I enter this trade its because its near to its 52 week low. I just catching the dip in exchange for the hope that the price will bounce back. LESSON LEARNED, NEVER CATCH A DIP. LET THE PRICE BE...

 Currency: EURUSDTimeFrame: 1 HourCatalyst: Trendline with Breakout, STCType: LongBuy Price: 1.12290Sell Price: 1.12354Volume: 0.03Profit: $1.92Reason for Buying: As you can see on the chart that pointed in the blue arrow it has already break the trendline which indicates a buying signal (naa siyay letter B nga naay green background). And I also look at the STC it has...

 Buy Price : .51 (July 19 2023)Sell Price: .58 (July 21 2023)Number of Shares: 25000Gain/Loss: +1582.61 or +12.38%Catalyst: I enter this trade using the STC in the 4H time frame (see chart below). When the STC turns into Green (look at the pointing arrow to the left) that is my signal to enter the trade. Luckily I ended up enter the trade...

 Buy Price : 3.60 (June 7 2023)Sell Price:  3.65 (July 12 2023)Number of Shares: 3000Gain/Loss: +20 or +0.19%Catalyst: My last trade was this stock which allow me to gain 0.69% OR 76 pesos only but it was not a bad trade because I bought it at 3.68 and sell it immediately at 3.75 which I missed a fraction of gain because...