If you have MT4 just throw up a fib. Right click on it and delete all the other levels other than the fifty, 100, and zero. Now you will have a useful fib tool.

Ramblings of a Forex Junkie

With a ten thousand dollar account you should be trading a maximum position size of about three to four dollars per pip. With EJ last night you should have been at two dollars per pip with the correct stop size. Never risk more than one hundred ...

Ramblings of a Forex Junkie

I would like to point out that I was trading a three hundred dollar test account at ten cents a pip. Most of the positions I took in the last weeks trading that account were well below one percent risk. I still managed to get a return in those past ...

Ramblings of a Forex Junkie

Now you are beginning to understand why I said repeatedly in the thread that trading real money is massively different from trading demo.

Ramblings of a Forex Junkie

You should, at most, be down one percent per trade. You may have a minimum deposit size but you make the choice to size your positions. Yes you should have shorted the previous day high. You also should have gone long after stopping out as price ...

Ramblings of a Forex Junkie

Good morning everyone: I made my explorer available for over three weeks. I had a gain of over 26% and never risked more than two percent per position. I have taken the explorer down as I want to reclaim my test account. I am planning to open a new ...

Ramblings of a Forex Junkie

Yea I read the links he provided. He is quoting a guy who is writing his doctoral thesis. There is supposedly research but no concrete sources for his data have been cited. He simply says he has third party information from multiple brokers. My ...

Forex = legal scam

I have 5285 but that is a broker difference and will not matter.

Ramblings of a Forex Junkie

Throw a line on your chart at the London close price today. You can do this with GJ and GU. This evening during the Tokyo market on GJ if the price approaches the close price note what happens. Tomorrow during London if price approaches today's ...

Ramblings of a Forex Junkie

I guess that is possible but think of things this way. Value would be at the low. Expensive would be at the high. If you were a big trader and wanted value where would you place your orders. Why would that ever change? I can tell you it hasn't ...

Ramblings of a Forex Junkie

A couple of pips is fine. Normally price will over shoot just a little to trigger stops. big players love to trigger the stops as it allows them to get into their trades without slippage. I like to wait for the overshoot and get a little better ...

Ramblings of a Forex Junkie

Its usually good for something. It may not always be a great hold for a hundred pips but you can usually squeeze out twenty or thirty pips with it once or twice a day. Twenty pips a day will keep the bill collectors at bay, as they say.

Ramblings of a Forex Junkie

There are always options in play. Every day. IFR news service is free to Oanda account holders I am not sure how to get it otherwise. They have a good options expiry table that is produced every day and it lists the options that they have been ...

Ramblings of a Forex Junkie

Any time price is around a zero or fifty level just before ten AM NY you can bet that there is a vanilla option in play. For the exotic options you can look at IFR (Thompson Reuters) for its options buz. They also can be found on all the big ones ...

Ramblings of a Forex Junkie

Well I do and I don't. I agree that the levels I have picked out over time have significance and are being watched but not because of a self fulfilling prophecy but because that is the place where orders stack up. Banks earn money by filling orders ...

Ramblings of a Forex Junkie

This is not technical analysis. We are not comparing indicators or drawing trendlines. We are taking a stand at levels which have proven themselves over time to be prices that other traders are willing to make transactions. I trade where I believe ...

Ramblings of a Forex Junkie

Think about what you just said and think about this. The most important trading centers for forex are Europe, London, and NY. Why would I want my daily open to be just before these centers get kicking?

Ramblings of a Forex Junkie

Watching the action in real time it was fairly obvious to me that the price was going to move down but the defense was holding it up. I could almost see the stops lining up under the 128 level as the entity on the bid kept buying to keep price just ...

Ramblings of a Forex Junkie

I'm thinking Asia tonight or London tomorrow morning. Clearly we are being driven up in that direction. Not sure why all the sudden short covering but looks like the price will be pushed up into the level soon enough.

Ramblings of a Forex Junkie

I closed way in on price just in the minutes before the cut, down to a five minute chart. You could see the battle over the 128 level with each tick. Price was jumping up and down in two or three pip moves but the ups were out numbered by the downs ...

Ramblings of a Forex Junkie