GBPJPY — Retrace and bounce off the triangle w/ pin. My buy limit triggered just inside the triangle while snoozing. How high will we go?

james16 Chart Thread

Hopefully your trailing stop worked out for you The purple is the 50% EMA I was telling you about.. I tp'd too early @ 3735, the last major support in that price area (not shown)

Mamutot's Trading Journal

I am demo'ing this one as well, since I don't trade the pair normally. However - it's hitting resistance on my other charts. GBPUSD @ 61.8 longer term fib, GBPJPY longer term 50%. Both testing resistance for the second time, with 4hr small pin. ...

james16 Chart Thread

That GBPCHF hourly pin looks good to me, esp with the 365 EMA What period sampling is your orange line? 160? Cheers

james16 Chart Thread

Thanks for the link to that thread Peter.. excellent stuff. I think i'll be scaling out far less now

Scaling out of a position - just an exit strategy?

You have to wait for a tick to occur on the currency pair you are viewing.

Visual Position Size Calculator

Or as another view from a 0GMT high correlation chart GBPJPY hitting upper triangle..

james16 Chart Thread

I think scaling out is an important exit strategy sometimes. It's just another tool in the exit strategy portfolio. I primarily use trailing stops, moving it up to areas of importance as they are passed. However, if I'm in a trade and things don't ...

Scaling out of a position - just an exit strategy?

Excellent tool. Thanks for sharing. I was always doing it by calculator before, so this is a big time saver and I like to to see the visual.

Visual Position Size Calculator

While I understand goals are beneficial, I don't see pip goals are something that helps anyone. I trade what I see as a good probability setup, no more, no less. If I was trading for a goal I'd likely overtrade, and I think goals on pip counts ...

My Journal 200 pips a week minimum

Geppy — Here is the ending of my 4H geppy trade after a nice pin. 50% and trendline exit. It bounced it with precision, I took profit right at the 50.

james16 Chart Thread

Exactly, like you, I see it as neither positive or negative per se. I see it as the business expense of finding out the answer. I agree it's more of a psychological approach then anything else, allowing you to accept losses by establishing a loss as ...

The Wizard of Oz Intuitive trading journal

Perhaps one way of looking at it, is instead of assuming your trade may or may not be a winner, therefore causing the rush, assume no matter what, that your trade will be a loser when you place it. Let the market tell you when you are _RIGHT_ ...

The Wizard of Oz Intuitive trading journal

Why don't you open a micro account with a broker? That will give you risk management capabilities by being able to trade in 0.01's of a mini lot.

Here we go...

I think the most beneficial part of the trading journal has already happened for everyone following it, through all the ups and downs and the trials and tribulations of someone who is going through the learning process (Been watching since post one ...

Steviet's Live Trades!

I pay absolutely no attention to risk/reward ratio. I only pay attention to what the current price action is telling me. I think it's a style of trading (maybe even an element of a system) rather then a principle to be followed by all. With my ...

Is a high risk reward ratio overrated?

In trading startup capital does play a role, but by no means in comparison to why a regular business fails. Those businesses when the reason for failure is due to insufficient capital failed because their strategy could not be properly executed with ...

My Journey to a $1,000,000

It may open up a separate order that would be canceled, stinging you with spread again instead of just closing an order - i'm not sure. You'd have to check it out on demo. I haven't tried it with MT4 w/ IBFX, but I used to do it all the time on ...

My first post on Fxfactory and first journal

There is a trick, but I definitely do not personally certify or recommend it - use at your own risk. Just put an opposite 1 lot pending order at your TP. So for example, if you are short, put a long pending order in for 1 lot where you want your ...

My first post on Fxfactory and first journal

Unzip this in your C:\program files\metatrader 4\config directory, or wherever you've installed it. Fill out the demo form @ interbankfx to create an account. I'm sure there's a way to make the "open an account" in metatrader default to ibfx but I ...

newbie demo help!