If the overall sentiment is down and the price is artificially held up to maintain price at an option level then the natural thing to happen is for the stops of the trades holding up price to be taken out just after ten. I am still working on how to ...

Ramblings of a Forex Junkie

[quote=Stu Effex;6671955] Excellent post. You have it in a nutshell. These levels are a part of my overall strategy. Every trade I take in my real accounts is based on these levels. I use them in different ways and at differing times. If I take a ...

Ramblings of a Forex Junkie

A couple of observations I will add. apparently I have made a mistake for years by skipping holidays. EJ today went long off the weekly open very early in the session and after a tough retest went on to go up. I would have had a long bias today if I ...

Ramblings of a Forex Junkie

You are more right than you know. The strategy loves chop. I does work in trends but only when there is a retest or when you get a daily open entry in the direction of the trend. As for my selling at higher levels, I am guilty. I got a little behind ...

Ramblings of a Forex Junkie

Thanks for reminding me of that. I think I have read just about every thread on this forum sometimes but I never kept links or catalogued anything. That may be where I got the final determination to take my losses. I have been helped by so many ...

Ramblings of a Forex Junkie

Funny you mention that, most of my testing doesn't take holidays into consideration but I usually skip trading during the holidays. I certainly would have had a different outcome today had I traded last night during Europe because the dollar pairs ...

Ramblings of a Forex Junkie

I won't beat this dead horse more than once but if I had risked four percent on every trade today I would be around forty percent poorer. I risk so small because I am not perfect and there are days like this.

Ramblings of a Forex Junkie

There are people who lost fortunes today. I lost enough to pay for a decent used car. Take lessons like today and file them in your memory. Burn them in well and anytime you think about not using stops or doubling down on a loss or going all in on a ...

Ramblings of a Forex Junkie

Well of course I would have bought GJ and EJ if the price action looked like up to me. Everything I saw right around the London close and the hour following looked like distribution to me. I can't really beat myself up too much as these moves happen ...

Ramblings of a Forex Junkie

These were Central bank moves and only with yen pairs. UJ, GJ and EJ all moved huge while EU and GU barely registered anything. This has all the classic footprints of the BOJ. Wait for London to close and for the thinner part of the US market and ...

Ramblings of a Forex Junkie

My stops just got slipped huge. I had a small sell at the week high in GJ and that move slipped me huge. Down 1.1% for the week now so maybe you guys shouldn't do anything I do.

Ramblings of a Forex Junkie

I feel the same things anyone else would. I take my hits calmly but I still hate it. I misread the price action in the yen pairs today and didn't exit when I could have. I took a 1.4% loss when I had a running gain at one point of about +.8%. I just ...

Ramblings of a Forex Junkie

I have sold GJ to go along with my EJ sell. My entry on GJ is yesterday's London close. I wanted to sell the last week close and missed it both times it hit. Changing diapers is a constant distraction with twins. I think that the US and China both ...

Ramblings of a Forex Junkie

UJ respects the US close rather well. You might consider trading that level when you can. Of course you want to avoid big news events with any levels and stick to the NFP trading style.

Ramblings of a Forex Junkie

Just remember, your first trade of the day was short and the Euro has gone down all day. The daily low is your best shot at a move up but certainly not a guarantee. I would definitely have taken profit at the daily low but I am not sure I would have ...

Ramblings of a Forex Junkie

Waiting patiently:

Ramblings of a Forex Junkie

Link on the first page of the thread. I changed brokers and accounts around over the past two weeks so this is a new explorer. It will take a few weeks to get enough trades to mean anything.

Ramblings of a Forex Junkie

If you are planning set and forget with levels it will be tough. With the current conditions you can probably get away with using daily highs and lows. The strategy relies on being able to reverse positions after a stop out. Can you memorize the ...

Ramblings of a Forex Junkie

Just something I am going to look at. It'll probably just lead to nowhere like the staircases in the mansion built by that crazy woman who inherited the Winchester Gun maker's fortune. As a side note the code that Lee is working on is turning out to ...

Ramblings of a Forex Junkie

I have 130.18 for EJ NY close so we are right in line.

Ramblings of a Forex Junkie