Hmm...pretty good article. Clearly it seems that it makes sense to add to a position once you have profited enough from the first position to clear the entry stop of a second position. I will look into it more. Right now I am trading off of a 4h ...

Adding Lots

hey farce, I am trying to establish the trend mostly from a daily and/or 4hr chart. The one attached is an example of what I am faced with. When the market retraces, how do you know if it is a reversal, or that it will continue on its down trend? ...

Determining Trends

thanks for the post man! By the way...what are SHI and MTF?

Determining Trends

ok firstly, what are pivots? Are these where the market reverses from a retracement? I do use fibos, but seem to either get stopped out because I manually move the S/L or get stopped out because the market is just waving in a retracement rather than ...

Stop Losses and Money Management

thanks for the reply! I think I am able to get in properly, but I think my main problem is determining market direction so that I can get out for a profit. How do you determine market direction? Also, I am trying to trade on a 4h chart so that there ...

Stop Losses and Money Management

thanks for the reply! I would like to know how do you know which way the direction is heading. I mean, you can be plotting a fib extension for an uptrend in a major downtrend which might not reach its extension. the swing high and swing low you ...

My technic with fibo

What about money management? What are your stop losses set at when you enter a trade (how do you determine them)? Do you use a trailing stop? What if the market reverses on you? Forexample, you see a bullish candle stick appear, and then it swings ...

My technic with fibo

hey spank, I am a fellow newb just like yourself and I think I can offer up a little advice. 1. Empower yourself man, take the time to learn the forex. As with anything in life, the best things take work. If they were easy, everyone would be doing ...

How many years to become profitable?

ahh ok got you, but I was just trying to recreate the example of when you were using the EJ, and the mathematical equation. The EU x UJ = EJ does not really represent how each currency is moving then right? The EJ equation your were talking about is ...

How does USD affect EURJPY?

still lost on the hedge thing — smjones, I am sorry, but I am just not understanding this whole hedge thing. Just looking at the charts that bemac had put up, if for instance both the EUR/USD and GBP/USD are rising, should I go long with the ...

How does USD affect EURJPY?

so in a purely mathematical equation sense, does it work? I am still a little lost. I do not understand what a synthetic hedge is. Mathematically, if both the EU and the UJ rise...the EJ would rise would'nt it?

How does USD affect EURJPY?

very interesting discussion — Hi smjones, this is some interesting that you put forth.I am a little lost by the equation tho. If both the EU and the UJ rise...then shouldn't the EJ rise as well? say for example: EU = 1, UJ = 1 then EJ = 1 ...

How does USD affect EURJPY?

interesting method, but I think that I will need to study the forex a bit more. I like the indicators in that they are in some way a reflection of price action although a tad bit lagged. In understanding how the market works, I will be able to ...

Having a rough time with trades.

wow...some very good responses. Thank you all for your input. Enoc, I have been studying the fibonaccis, I took a course from MTI and it has been most useful. The fibonacci's do work except when the market is going to reverse. If I buy at that ...

Having a rough time with trades.

thats very interesting. So you wait until multiple time frames align in a certain direction. That is a pretty decent system when I think about. Does the major trend take precedence over the smaller time frames? For example, on the 4hr is says ...

Having a rough time with trades.

Ok, I thought I would post a picture or 2 to get some better feedback from you guys. Here is a daily chart of the EUR/CHF. Which was is it headed? It looks like an uptrend to me....but I have not been making the right decisions. thanks.

Having a rough time with trades.