My SL got hit. I'm gonna put AH order when it hits 3500-ish.

Jacko's Forex House of Pleasure and Pain

Exactly .. even better you use fundamental to find long term direction and use technicals to enter trades in the direction of the fundamental. And please, news trading is not fundamental trading. More like noise trading.

Tech or fundamental

I got the same position. Gonna wait and see what happens. If this position fail I'm gonna employ anti-hedging lol.

Jacko's Forex House of Pleasure and Pain

Easy ... close all position. You know you are not in good shape when you are at -ve and wondering what you are going to do.

EURUSD

Currencies are traded in pairs. If EU interest rate increase, USD will weaken, so EUR/USD will go up.

Confused about fundamentals

Leverage is to enable you to buy big lots with small money. With 400:1 .. you can buy 4 lots (not 400 lots) with $1000. The way I use leverage is 1) define how much $$ I'm willing to lose if my SL got hit . Let's say the SL is 100 pips (valued ...

Leverage - I *thought* I understood it!

The morning before NFP, I entered a Long EURUSD market order at 3549 because the price touched a support level (3550-ish). Before NFP, I moved the SL to break-even. Because of NFP, I got kicked-out before the price actually moved up since NFP result ...

Jacko's Forex House of Pleasure and Pain

Thanks jacko, this is what a lot of people on this forum need.

Jacko's Forex House of Pleasure and Pain

Nothing really particular. But I've been using the wicks and it works for me. And I noticed there isn't much difference between using the wicks or closing price because most of the time the price will bounce off the trendline before it actually ...

Follow the trend!

I find that funny as well but I guess those kind of things make life colorful. Hehe. Isn't divergence is just about price momentum? If price is losing it's upward momentum, we bet our money on the short side.

Which is more profitable: Trend or Divergence trading?

Thanks for the great insights, jacko. Let's make $$$$ ...

Simplify your system

What book would you suggest for reading ? That sounds interesting even if it's just a coincidence. After all, ancient civilizations has been watching stars for signs of important events.

Predict dollar movement using astrology

woot! — Using astrology to trade? Interesting.

Predict dollar movement using astrology

Not sure which style you are referring to but if you use Jacko's style, you only need 50 pips SL.

Going long is a good probability bet

Lol no. We are here to make money and talking about money is always good , polite and healthy. When people post pips, please state your lot size.

:: Pips are not what counts ::

I think the idea "market rises slower than it falls" only applies in market where the participants are biased to one side ... e.g stock market. Most stock market player do not take short position.

markets fall faster than they rise

For people who follows certain religious restrictions (avoiding interest), carry trading doesn't exist in their book. :

markets fall faster than they rise

Just daily.

What is the main time chart you trade with?

Lol my style is not listed. I hold position usually less than 5 days but only in the direction of position trade. Not really swing but not really position trading. I spend 10 mins a day using daily charts.

Day Trading vs. Swing Trading vs. Position Trading

Great to hear that. My SL got hit at 1.3495. Netted 140 pips. Not too shabby for a an almost 11% increase in equity.

EURUSD