Second lot short on EU. This is just what the ECB wanted. I don't think they care at all about what happens to Greece. They just want to hold the line on austerity so the rest of Southern Europe doesn't follow Greece into bankruptcy. Bailed out of ...

Multi-Lot Multi-Timeframe Position trading

Hi IBO, there really wasn't a single decisive candlestick on this trade. It was obvious the RBA and ECB wanted their currencies to fall, so I was just waiting for the shorts to be shaken out of the trades to re-enter with short term momentum in the ...

Multi-Lot Multi-Timeframe Position trading

Re-entering, EU, AU short, UCad Long. Nailed entries. All three went right to positive. Plan is to add second lot between 75 and 100 pips up. The game is on!

Multi-Lot Multi-Timeframe Position trading

Looks like Oil was just a short squeeze. It's headed back down today.

Multi-Lot Multi-Timeframe Position trading

It's been going up the past few days, but generally the NZD will go where the RBNZ wants it to go. The longer term trends are down. I expect it to eventually make a lower high within 10 days or so then fall back to make a lower low. I'm willing to ...

Multi-Lot Multi-Timeframe Position trading

I've used that method and it worked well to capture profits as the trade progressed. I wasn't very consistent about closing out the trades on Friday though. If the trade had made a very large profit during the week I'd close it. If it looked dead or ...

Multi-Lot Multi-Timeframe Position trading

Hi nbfx, welcome aboard. I'm glad you found something of value here. I'm getting some good ideas from the other traders here as well. My successful trades seem to come in groups. They vary from about 10% of attempts to about 60% with an average of ...

Multi-Lot Multi-Timeframe Position trading

Sounds like a great idea EZ. You are carrying a lot of risk to unrealized gains on the anchor lot, but that risk is limited and managed and in turn you are exposing part of your trade to the trend for a very long duration, improving your edge. I'll ...

Multi-Lot Multi-Timeframe Position trading

Thanks to everyone for the feedback. This multi-lot trading can be a bit of a roller coaster. Of course 35% in two months is a very good return by the standard we often discuss here. Professional hedge fund traders consider that a 35% return in a ...

Multi-Lot Multi-Timeframe Position trading

Of those trying to trade some variation of the methods we described, I'm wondering who is making money and who is losing?

Multi-Lot Multi-Timeframe Position trading

Some lively discussion in my chat group today about the risks of trading in Forex. This was brought up by a quote from a trader (not in my trading group) who was heavily long the EChf before the peg was removed. Price gapped 2000 pips down and he ...

Multi-Lot Multi-Timeframe Position trading

Hey Lem, glad to see you went through the charts yourself and thanks for the correction on the pullback, 135 pips in retracement is quite different than 40! . Yes, there were a few ways to trade this. Yours would have been perfect. There are usually ...

Multi-Lot Multi-Timeframe Position trading

Yes, all 9 timeframes lined up at several points during that day. Any would have made a pretty good entry try. I've gone through several of these trades live here in the past. I'm in another with a re-entry on the UCad right now. If you try this ...

Multi-Lot Multi-Timeframe Position trading

Good question. Specific enough that I can give a specific answer. Let's go to the charts. Look at EU weekly. There were about 6 major retracements like you speak of over the last 6 months of the EU fall. See it? Now look at the largest, about the ...

Multi-Lot Multi-Timeframe Position trading

We could see some extreme volatility this afternoon if the US Fed changes the wording in their policy statement. Be careful out there. Later: No change in policy. Yay! G

Multi-Lot Multi-Timeframe Position trading

I'll provide the best answers I can, but often these decisions are based on having taken thousands of trades in the past and already having made every possible mistake several times over. Yes, I do move the stop up manually in stages. The trade ...

Multi-Lot Multi-Timeframe Position trading

Yes, that might could be more simply said, Don't overtrade. I think anyone who has read this thread understands that the risk of ruin is excessive for any single trade risking more than 1% of account balance. As I had noted before, many large ...

Multi-Lot Multi-Timeframe Position trading

Since these are long term trades, I'd look at situations that would invalidate the fundamental basis of the trade combined with a reversal of trend. So, for instance if the US Fed was to announce more quantitative easing or an intention to maintain ...

Multi-Lot Multi-Timeframe Position trading

There seems to be some weakness in the USD at the moment. Some are guessing that due to some weak fundamental data the US Fed might not raise rates in the middle of this year as previously thought. I'm not into trying to out guess the other guy. I'm ...

Multi-Lot Multi-Timeframe Position trading