Disagree. JPY is the most technical currency - short term moves are driven largely by japanese fund managers who all tend to think the same way and pay attention to the same tech levels. They measure yen against the US dollar though, not AUD. AUD is ...

Most Technical Pair

Reading this thread, I think a lot of traders lose sight of what a currency pair actually is. Each individual currency has its own quirks and characteristics - the people who buy and sell large sums of AUD are very different to the people who buy ...

Top currencies that gives clear price action

Analyze currencies separately, don't try to analyze a currency pair. If a currency is stronger than the rest, it makes no sense to buy anything else. If a currency is weaker than the rest, it makes no sense to sell anything else. Study the causes of ...

What's your basic logic/philosophy for trading in simple words?

It depends on the strategy used - I think that fixed S/L and TP is best with a countertrend strategy where you are trading between support/resistance levels. But a trailing stop with no TP is better when trading with the trend and trying to ride it ...

Hard stop: Breakeven or trailing stop?

It seems you have been banging your head against a brick wall for some time here. You are one of the very few traders I have come across who sees market dynamics the same way I do, and is capable of understanding the concepts I trade. I can ...

Lessons in directional probability and risk management

I agree that using FA on timeframes below 4h is futile. On a 30m chart, the fundamental themes I trade seem to get swamped in the noise of technical traders. I have only been studying fundamentals for about 6 months now - before that I would throw a ...

Looking for book recommendations on Fundamental Analysis

Not true. I rely heavily on fundamentals, and most of my trades last 2 - 5 days. Some economic events are already priced into the market, some cause price to spike and readjust itself in a few seconds, some cause gradual shifts over several days, ...

Looking for book recommendations on Fundamental Analysis

I trade mostly on fundamentals, the best introductory book I have found on the subject is Currency Trading for Dummies by Brian Dolan. Anyone wanting to learn FA should start there.

Looking for book recommendations on Fundamental Analysis

video

What movies do you watch while waiting for your setup?

I'm no feline expert, but that cat is definitely inbred.

Back of a cat's head?

The correlation is always perfect if you look at 3 pairs instead of 2 eur/gbp is a product of eur/usd and gbp/usd - if eur/usd goes up but gbp/usd goes down, what does that tell you about eur/gbp? You should be able to know what any pair is doing ...

Trading currency correlations profitably

IMO there is no logical reason for it to hold, or even to have any effect whatsoever on price action since the relative value and dynamics of both currencies have changed drastically since those S/R levels were put on the chart. For NZD/JPY to stop ...

What is the best level to Take Profit?

Thats correct, but to determine if that has happened you need to compare them both to a third currency. If nzd and jpy are both where they were before against the usd, or if they have both moved up or down by the same amount, then previous ...

What is the best level to Take Profit?

A more relevant question perhaps - do you know for a fact there are any successful CURRENCY traders (not equity or commodity traders) relying on technical indicators? I am yet to be totally convinced there are any, though I know some very successful ...

Curious question about indicators and profitability

hmm long term resistance on nzd/jpy?? Here's a riddle for you - why would that resistance still be relevant if the value of either nzd or jpy has changed relative to usd since those swing highs were formed?

What is the best level to Take Profit?

It depends on several things - on short time frames it generally depends on traders expectations and reactions to the release. Some surprising news releases, such as yesterdays disappointing australian unemployment figures, have a big impact for a ...

News Report Effects

Most of the time, market movement is effectively random - there is approximately 50% chance price will move up and a 50% chance it will move down. If you entered long, you obviously felt there was a bias to the upside - therefore you should exit ...

What is the best level to Take Profit?