Hey Danku, Just like nfx I'd be pretty cautious here. I prefer to see pinbars at swing highs around resistance. This pair just seemed to meander for a couple of days, then bulls came crashing in but were quickly pushed back by the bears. I'm not ...

Silent Service Method

Good conclusions

what happens when a trading strategy suddenly turns bad from good?

Good point. I don't know what your system is like, but systems may work differently under different market circumstances. For example, if there was a clear trend during the last couple of weeks, your system may have given really profitable signals. ...

what happens when a trading strategy suddenly turns bad from good?

I do sometimes trade counter trend, but with the main difference being the exit strategy. Its nice to let with-the-trend trades run, giving it the freedom to catch a whole lot of pips. If you go counter trend however, you want to trail a stop more ...

james16 Chart Thread

This is an interesting situation. As posted above, we saw bullish GBPJPY PA on the 1h and 4h timeframes earlier today, with supporting convergence from indicators, a double bottom and a rejection by the 50 fib level. A couple of hours later a ...

james16 Chart Thread

I have the feeling the percentages mentioned by "professional traders" often are statistically inefficient. I'm referring to the people stating you shouldn't risk more than 1-5ish percent per trade. Assuming you have some sort of edge, you will ...

Gentle equity curve or rollercoaster gains?

I like it. Also, there is MACD/RSI convergence on the 4h timeframe for extra support.

james16 Chart Thread

True. However, the greater the size of your account, the greater the threshold will be. Thats why you should risk a fixed percentage that you feel comfortable with. Set a stop-loss, and stick with it. In my opinion this is about the closest you can ...

How different is DEMO vs. LIVE account trading

Call me strange, but I care about pips and not about cash. I get the same happy feeling when I profit on a demo account as when I make actual money. Likewise, I don't feel the difference between life and demo losses.

How different is DEMO vs. LIVE account trading

I like your post. I mentioned PPP earlier. This concept has the tendency to hold in the very long run (think of 10+ years), in the shorter run however, the market can greatly deviate from this equilibrium level. In my opinion this is the problem of ...

trading with fundamentals is the only way to go

I took a CADCHF short, and am hoping for the best. What I love about price action, is that it CAN be somewhat reinforcing if you look at multiple timeframes. In the charts posted below, I see that there is a BEOB being developped. I also see that if ...

james16 Chart Thread

Wouldn't you agree that spotting this real world ineffiency is much easier for institutional traders, allowing them to take advantage and driving the price to the "efficient" level, before we even spot it?

trading with fundamentals is the only way to go

I will conclude the following: Fundamental analysis has to do with analyzing the economic indicators and governmental policies (or central bank if you wish) and, using that data, tries to predict exchange rate developments. These factors are ...

trading with fundamentals is the only way to go

Could you (the people promoting Fundamental Analysis) specify what you mean by Fundamental Analysis? Are you trading the news, or are you guys applying economic theories and models?

trading with fundamentals is the only way to go

I always consider confluence as a way of forming alliances with other groups of traders. It is common knowledge that divergence of indicators suggests a weakening of the price movement, and therefore gives us opportunities to take trades in the ...

james16 Chart Thread

Hehe, funny Nice video btw.

Silent Service Method

Last week I took a GBPAUD long. I took a 250 pip stop loss (below 1.9 resistance/fib expansion), and aim to make a couple of thousands pips profit. Maybe the goals are a bit too high, but at the moment the trade is in profit and I have a good ...

Silent Service Method

Why is there a "kind or risk"? Due to the high leverage in forex, it is possible to almost completely control the level of risk you take. The speculative part is another story. By the way, we know nothing of Trader A's risk/reward structure so its ...

Defining who is a better trader...

100% Risk of Ruin — Hey there, sorry if the following discussion if it wasn't planned as part of your thread, but I've been thinking about this for a while now and was looking for some other views. Here goes. If - A trader has a system with a ...

FX Statistics

I'm curious, can you think of a reason why AUDNZD is "all over the place"?

Silent Service Method