You can make money counter trend but you have to know your limitations. UJ bounced thirty five pips off the rolls today. Plenty of room to get a profit there but not a trade to try and hold.

Ramblings of a Forex Junkie

Just my feel. I keep an eye on how the last week or two have been with the yen and dollar and trade the one that has been behaving well. Lately the yen has been driving things and the dollar pairs have not been as good. Last night is a good example. ...

Ramblings of a Forex Junkie

As for yesterday my first trade was a short from the weekly open on EU. There was room for a decent TP on that trade down to the rollover price. Yes if you were long from the rolls yesterday the best play was to be long up to or through the higher ...

Ramblings of a Forex Junkie

I know how tough it is. The first day after I linked my test account to the explorer I had three losers in a row. I took the forth trade though and ended the day with just a ten pip loss. You have to take that next trade as tough as it can be. Make ...

Ramblings of a Forex Junkie

You're not an idiot. I am embarrassed by my choice of words there. This is a hard business, trading and I am trying to help, not make people feel bad. Please read my comments above to KK about how I get my bias and how I manage the trades once I am ...

Ramblings of a Forex Junkie

I occasionally get an idea for another long one but I am a little lazy. I do like to write though. The drop was off to a good start but then the Wiedmann comments just sent it off to the races. I don't use a squawk I just have the news feed from IFR ...

Ramblings of a Forex Junkie

Don't be put off KK ask all the questions you want. I can't hear you only read words so I may misinterpret your tone or reasoning. I am a nice and patient guy so if I sound harsh wait two minutes and that will change. Now the basic reason I don't ...

Ramblings of a Forex Junkie

[quote=billytt;6613919] I don't want to be mean or hurt anyone but some things take experience and as you said cannot be taught except by one on one instruction. As much as I like you guys none of you will be getting an invitation to casa Chris any ...

Ramblings of a Forex Junkie

If anyone has taken the long from the previous week low in GU assume it will be a bounce. Protect your profits because it may be a short lived bounce.

Ramblings of a Forex Junkie

Maybe one of the biggest reasons I am not taking trades right now is that I am up 5.6% today and don't want to fack it up. There will always be more trades.

Ramblings of a Forex Junkie

It isn't really hindsight as much as it is awareness. Now I screwed up by taking my profit too early on the GU short. I should have known better because of the H&S. As I said I don't trade the pattern but I am aware of it and have learned over the ...

Ramblings of a Forex Junkie

I apologize if this sounds harsh. Only an idiot would take a long on EU after an ECB governor comes out in international media and announces the possibility of rate cuts. Now technically the price came below the previous week high and held there. ...

Ramblings of a Forex Junkie

Time to put up or shut up: Please post a link to the study that you keep quoting that PROVES that 99.6% of all retail forex traders lose money. Knowing that 78.3% of all statistics are bullshit and made up on the spot I imagine that you can't ...

Forex = legal scam

Olarian I hope you got in short on the second ORB trade this thing is cooking. I got thirty pips on half and now with the news its really moving. Might make up for the beginning of the week with this one.

Ramblings of a Forex Junkie

I shorted the daily open on GU and exited too soon. As we can see in hindsight I should have been short until now. The news spike would have been a great place to exit. Can you see it now? I don't trade these I trade the levels but this is good ...

Ramblings of a Forex Junkie

I am starting to think that everything would just work out better if Bernanke and Draghi just meet in a neutral country and have a street fight to see who gets to have the lower priced currency. All this comment vs. comment playing out in the media ...

Ramblings of a Forex Junkie

Yes Billy you'd have to be pretty happy with a day like this. I made 5.6% today and my exits were horrible as usual. Shoulda coulda woulda made ten plus percent today if I didn't have to sleep.

Ramblings of a Forex Junkie

I take the FIRST trade triggered in the European session. GU daily open was that trade. I didn't take the low because I have to sleep sometime, the momentum was down, and although it lost there was an easy opportunity to short it in the retest of ...

Ramblings of a Forex Junkie

I took the daily open on GU and closed it much too soon. The ORB can be frustrating at times, we need a bit of trend. The three weeks before this were magnificent. Today the bastards just had to see 1.32 one more time. Second entry was the charm ...

Ramblings of a Forex Junkie

This is my job.

Ramblings of a Forex Junkie