And the last one showing the logical conclusion.

Why Fibonacci Retracements are Bullocks

A couple of more showing extensions and the next retracement.

Why Fibonacci Retracements are Bullocks

Hi Scotty, As a rule, I don't post about Fibs...it's a personal thing, but I couldn't resist because you posted the chart. Here's how it works out. It's pretty simple, really. I'm not interested in anyone's else beliefs, be it in trading or if the ...

Why Fibonacci Retracements are Bullocks

I would add that what passes as conventional wisdom concerning money management isn't all that everyone thinks it is. The cliche of don't risk more than 1-3% per trade is very limited in its scope. There are creative ways of dealing with mm.

For the New Year - An edge

The single most important quality you need to trade successfully is patience. Without it you're going to get screwed eventually...by yourself, of course.

Trading Wisdom

That is precisely what the Russians did in Lebanon in the 80's after a couple of their people were kidnapped. They sent in the Spetznaz, they tracked down a couple of leaders, chopped them into pieces, and sent them in packages back to their ...

Cesarnc's market talk, gossips, rumours & fun

I wish I lived with my parents...it means they'd still be around. Leon, don't let anyone on cyberspace get to you. It ain't worth the time and effort.

Too good to be true?

The hardest part of trading is getting comfortable with what you're doing. Most people can't stick with a method or approach because deep in their mind, something about it bothers them. They may never verbalize it, but it's there and it subverts ...

Question about reward:risk ratio

Banks can be brutal bastards. They'll sit on your money as long as they possibly can, just so they can use and earn money on it. I doubt it's the broker, it's the bank. Call them asap and get them to track it down. With the lack of cash flowing ...

Delay in money transfer through bank wire

Wrong again, pal. We do understand exactly what's happening. Brokers control their own feed so they show you what they want. There are always discrepancies in price between brokers and the banks. If YOU had any knowledge, then you would know this. ...

Three brokers diffrent spike who's lying?

Um, ok.

Three brokers diffrent spike who's lying?

The main thing to take from having a R-R in which the reward is greater than the risk is forcing yourself to not close out winning trades early. So, if you risk 50 pips on a trade and it shoots off in your direction and hits 50 pips quickly, most ...

using poor Risk:Reward

In Taleb's latest book, The Black Swan, he quotes extensively from Philip Tetlock's work on these clowns. As a group, they do worse than random and most of their predictions are two horse races. Tetlock also found (from 27,000 predictions over an 18 ...

Another Great depression?

Kevinator, First off, do you know where the prices are coming from? They come from banks who are the true market makers in Forex. Not all the banks are quoting exactly the same at the same time. If you want a good feed you're going to have to pay ...

Three brokers diffrent spike who's lying?

Dude, make a checklist and use it. It'll help with the stupid things such as leaving orders in without stoplosses.

Exiting the Rat Race

I know a guy who traded for Tudor Jones for 5 years and he was the youngest trader in the history of TIC. He told me once that every guy that came from and Ivy league school either was average at best, or they just couldn't trade at all. He said the ...

Does going to an Ivy League help you become a good trader

As usual, logical, rational, and well said.

Another Great depression?

Schiff forks were designed precisely for steep moves. You might want to do some reading about forks. Try Morge's archives.

forkies

Same here...my only concern is not putting on a trade in front of a potentially big mover like NFP or rate announcement. Other than that, I don't watch or read financial news.

Another Great depression?

The current economic crisis is a blessing for the brokers.

Broker that offers 500+ leverage and low spreads