Using pivot points now? I need to catch up on this thread...

My Fibonacci trading system

Well one of the things that has me worried, and this is in support of your view, the 38.2% fibonacci retracement level @ 90.26 is holding right now. This fibonacci is drawn from the most recent swing low (89.14) and high (90.95). So this so far ...

Spot FX Day Trader's Thread

I'm actually short USDJPY, but I'm shorter term than you, Pippy, so hopefully we both make some pips. I'm short from 90.80 with a breakeven stop loss now. I've booked half my trade and letting the rest ride down to somewhere below 90. This is based ...

Spot FX Day Trader's Thread

Looks like a good set up... are you in it? Looks like one's execution would have to be really quick to catch those little pokes at the first 38.2 fibo level. And I think those types of little pokes are the best setup!

My Fibonacci trading system

Well I'm still short USDJPY from yesterday's resistance to the 90.80-90 area, which is an area of confluence for 2 trends' 38.2 and 61.8 fibo retracements. So far it's been okay. It's taking a while and I've already closed half my position at these ...

My Fibonacci trading system

Well I hope to learn something from you so... can you tell me why you wouldn't simply just close your 1 lot long to "lock in your profits" instead of opening a 1 lot sell in the same spot currency pair to do the same? You say this nedging strategy ...

What's the point of hedging?

Thanks for contributing. What is the universe of instruments that you refer to? Is it just other spot currency pairs or something else? I'd be interested to hear what hedging you would do with other spot currency pairs as an alpha-generating ...

What's the point of hedging?

MailSeven, In regards to this fibo strategy, it looks like a setup to me with the larger wave fibo retracement at 38.2%. The smaller wave's fibo retracement levels broke down, so there is no confluence of fibonacci levels in your chart. But I think ...

My Fibonacci trading system

I've been following this thread for quite some time now and I like what I see. Is anyone seeing this setup in USDJPY? I attached two images. The USDJPY has rallied to this 90.80-90 area last Friday before failing. It's an area of convergence of 61.8 ...

My Fibonacci trading system

pip_seeker, I followed your example, and I think you got some parts wrong. Not saying you're not profitable. But you are incorrect in saying that your profitable due to this nedging (or hedging). You're profitable due to knowing when markets turn. I ...

What's the point of hedging?

It's probably US President Obama's talk about limiting risk at big banks. This talk has been in the news before but Obama took it a step further by making big talk about it today. It took the EURJPY cross down which is largely seen as a global ...

USD/JPY Discussion

I've been long on Cable since Friday on technicals. But finally exited due to this Cadbury news. I was hoping to hold on to my long position going into the economic numbers tomorrow (Goldman's bullish views on UK numbers). But I took my pips just ...

Cable Update (GBPUSD)

I know the question was not asked of me, but I see the trend as going up on the Cable, from the 1H chart since the new year. Looks like it bounced off support 38.2% fib level. I'm long cable from there.

My Fibonacci trading system

I haven't traded with FXCM or MB Trading, but according to the trading agreement docs you have to sign, they are counterparty to ALL trades you enter. What's worse is MB Trading states they have proprietary trading operations ongoing. So... I ...

Brokers Scams Who delete you profits

The spreads at CitiFX Pro are comparable to other banks offering retail forex accounts. But you get the security of dealing with Citi. Your deposits are also FDIC insured in the United States. But you pay for this in the 2pip spread in Euro. url I ...

The truth about retail Forex brokers !!

I think the risk/reward ratio is skewed. You're risking 60 pips for only 50 pips. I feel like it the risk/reward should be at least 1:1.5 or 1:2 depending on your strategy.

EURUSD