Live: Don’t Just Blindly Follow
in todays’ live session I showed how “thinking out of the box”/main stream narrative can lead to substantial profits IF you catch the right cycles.
If you understand how the mainstream narrative, press, governments, central banks are NOT your ally. Those at the top of the financial “food chain” want to continue with a system that has served them well for centuries. Namely, you are expected to pay your taxes. Get a mortgage (or coming soon) rent, take out a car loan. Have 2.2 kids, work your butt off for 40 years and if you are lucky retire.
If you are happy with the status quo then do not listen to me. Even if you are not content and wish to change, do not just blindly follow my lead either!
If you think the Fed or your government is working in your best interests, check out Peter St Onge’s explanation of how they use inflation to their advantage, not yours: How the Fed Sells Inflation
Check out my Twitter feed to see who I follow: https://twitter.com/marcwalton
Open your mind to new possibilities. Question any opinion or news that is pushed your way- think what is the motive behind the push?
Seek out multiple sources of news and varied opinions. Western governments are still heavily pro Covid vaccines even though there is a body of evidence suggesting there are dangerous side effects that at the very least should be out in the open and discussed. Similarly, at the moment governments are planning to spend trillions of your $’s on climate change.
They may of course be right and it turns out to be a wise decision. On the other hand, what if they are wrong?
Anyone with an alternate point of view is at the very least portrayed as an “anti-vaxxer” “a climate change denier” a “conspiracy theorist” or just plain stupid. Many have been frozen out of their professions and some have lost their livelihoods and had their reputations shredded.
Many scientists now are only able to obtain funding if they support the funder’s narrative. Yet 0ver 70% of scientists can not replicate another scientist’s work and more than half failed to reproduce their own!
Open your mind to new possibilities. Try to see things from alternate perspectives. Many mainstream economists denounced Bitcoin and crypto (and continue to do so) as a scam and a fools errand. Well BTC alone even at today’s price is up over 4000% and +7900% at its peak in the last 10 years whilst the S&P is less than 400%.
Would I have put all my money into crypto in 2020 when I launched the crypto site, of course not, but I explained how and why I felt it was the right move at the time. Even then I was way late to the party, but ETh was at $180 and went to over $4000, BTC $8000 to $64,000, ADA up 7000% in less than a year! At its peak our portfolio was over 1000% in profit within 12 months.
I showed folks along the way how I was taking profits and buying dips. How my first goal was to take out the initial stake in case it tanked, which it did. This was a wild ride and will be again BUT its not unique to crypto.
The S&P, Amazon and everything else over the last 20 years has dropped over 50% (Amazon over 94% at one point. Nothing goes up in a straightline. However, if you catch the right cycle at the correc time then the possibilities are there for those willing to take the risk.
Check out the Crypto area here, I haven’t updated it for ages as at the moment I am focussed more on gold and metals, but you can see my thinking before and during the events
(Only members have access)
As ever this may not be for you and thats fine, but at least you will know more about it and why some, like me feel it has much further to go.
I went over the longer timeframe setups for FX and showed you that in the coming days or weeks, we could see these play out.
Ashley went over his intra-day setups on the 4HR and also went through Earth and Sky and showed us which trades he prefers and why. Here are some of the areas he mentioned to pay attention to on the shorter timeframes:
AUDUSD: We have the CPI news tomorrow morning so don’t trade it until that is out. But the area to focus on is 0.63900, its the previous swing low on the 4HR, 200 MA, and also a trendline.
GBPUSD: This one nearly worked today but his alert didn’t trigger as it missed it by a few pips. But 1.22900 is an area of interest on the 4HR.
GBPAUD: He will only look to take a long if it breaks above 1.93400 on a 4HR or daily as he has shown in the video its a significant area and the price reversed there again. The last time it broke above the area it did 600 pips.
EURAUD: similar to GBPAUD but he has taken a split entry because of M2 and Earth and sky. watch the video. He will cancel the orders if they don’t get to his desired area by the end of today.
EURCAD: This one looks attractive again on the Daily to take a long at 1.45150 for multiple reasons. It worked yesterday but he didn’t take it as it was Monday.
As always make a plan to get in and out of a trade specially when you have a busy week full of news. Dont be scared to trade just have a good plan and you will be fine. Ashley mentioned at the end that next week is very busy and full of news. You can still trade it but dont keep your TP targets too big as the news could reverse the trade, so just be realistic with the goals.
Here is the link to download member Davids journey back into forex, this time doing it the right way: Case Study: Struggling Trader, Starts Again
Feel free to share it with your friends and fellow traders. You can use it as a blue print to follow
You can watch the full webinar video below: