Still not much on watch, that being said, I have exciting news.
5ers, a proprietary fund – they fund traders that pass their exams – have updated their drawdown rules.
Here is the quote:
After having compared a lot of different options I truly believe 5ers is the best option for traders that follow a daily/swing approach. The max. exposure limit is no issue if you’re not taking 10pip stops. You can hold positions over the weekend, and they double your account for every 10% you make.
Here’s their website: (this is a referral link, – will be used to keep this website running)
For those that wonder why a trader should refer people, he genuinely wants to succeed, to a funding – it’s mainly a question of monetizing my time, I spend a lot of time per week on this website offering content for free. Figured that I could use referral links once in a while
Anyway, back to business.
I’m quite iffy with this set-up, while there’s a valid zone, we can see that the month of June / July / August were basically sideways.
I don’t think it’s a question of buyers and sellers trying to fight out a position, instead I think it was just low volume on this pair.
That being said, there’s a weekly stack there, so it’s worth mentioning, it will also show a double bottom, so that will be interesting
Aussie Swiss is another “iffy” pair.
It’s not entirely true, I’ve fitted the chart to fit me.
How so you ask? Well the zone I created in January 2020 wasn’t a real imbalance candle, it’s a valid area of supply and demand but… Yep not valid.
Which then means the counter zone in Feb shouldn’t be there, which in turn means the counter zone from June (the demand area we’re looking at) is not going to be a valid zone.
That being said, it’s freaking clean and obvious to me so…
I guess it’s time to mention euro aussie once again? It’s been a while after all!
I really like this supply zone, however we’ve been ranking for so long now I’m not sure institutions are still looking to get into the market. Time will tell.
There’s a clear weekly stack tho, so I’ll take the set-up if one occurs.
Finished Red Rising, American Assassin, and I’m now waiting to receive my new book, How to Live: Or A Life of Montaigne in One Question and Twenty Attempts at an Answer
I’ve been told it’s a good book so I look forward to reading it and taking notes.
That being said, instead of reading today, I’m more focused on listening to the podcast by Naval and Tim Ferris, was released this week!
One of my favorite thinkers of our time.
Tweet of the day
Since I just mentioned Naval podcast with Tim Ferris, it would be wrong not to leave you with one of his quotes