Good point! I was so fixated with existing pairs I focus on that I hadn't considered the AUDJPY.

Follow the Smart Money / COT Analysis

Duncan, thanks for this thread. When I first saw this thread I subscribed to the COTbase service - it seemed a reasonable price to have access to the pre-digested data instead of downloading the weekly report in raw form. This data when combined ...

Follow the Smart Money / COT Analysis

Tell me about it!

Basket Trading - A Summary

Thanks, but I don't understand this one cecakrowo. It seems to use eight currencies rather than seven (there's the addition of CAD). Of more import is the fact that the pairs don't balance. Buy {GBPUSD, EURUSD, USDCHF, AUSUSD, GBPJPY, EURJPY, ...

Basket Trading - A Summary

LOL, Chicky. It's true but also obvious and therefore always likely to have gotten you some flak. However, I can see some newbies benefiting from that advice - maybe a bit from pondering how they can exploit that artificial barrier at zero, but ...

Never Lose in Forex - Guaranteed

Hey, a reply! Thanks, jeuro. I've already been studying correlations for a while and in relation to the indexes of the major currencies. I have three demo accounts I've been testing various strategies on (SR/trends/breakouts/ElliotWave etc), one ...

Basket Trading - A Summary

Read this: Phantom of the Pits. Long winded but invaluable advice on scaling into and out of positions.

How to rescue a losing position?

My late father always told me to never gamble with cards. Today I break that rule Count me in Chicky. Whatever you've got to say I'm already hooked by your pitch and if this is a wind up I dead curious to see how it ends! Question for you: I ...

Never Lose in Forex - Guaranteed

Sorry I'm not replying individually to all the above posts. Consider two traders using different systems/methods that work for them. They both set SL at x pips and TP at 3x pips. Trader A consistently sees 80% of his trades hitting TP. Trader B ...

Are Risk/Reward ratios simply nonsense?

Thanks for your reply. I have read Tom Williams' book, Master The Markets, and I see how volume can be a valuable input. However, the emphasis throughout his work seems to be on volume being indicative of what "professional traders" are doing - the ...

How do I see volume?

Hi HiddenGap and thanks for the video. However, he seems to use the volume in MT4 (example at 0:21:00) which, I understand, is supplied by the broker and limited to data local to that broker. Do you rely on your broker's volume data or do you use ...

How do I see volume?

Many thanks for the replies (and the homework ). I'll work on all of that.

Some very basic MQL4 help for a newbie please

Xaphod, that's useful. I've come across this magic numbers term. I've done some digging around but can't figure out how to use magic numbers in this context. The magic numbers' main purpose seems to be to associate a trade with a particular EA. Is ...

Some very basic MQL4 help for a newbie please

Jack_Larkin, yes, I wanted to try a modification of the basket technique at this post. Before trying any modification I wanted to use the code provided there exactly as-is to first make sure it works. However, the problem I've had with the EA is as ...

Some very basic MQL4 help for a newbie please

Thanks for your reply. There aren't any other EAs running on the account - no checks for existing orders prior to opening new ones. Code: #property show_inputs extern double Lot = 0.01; int start() { OrderSend("AUDUSD",OP_SELL, Lot, ...

Some very basic MQL4 help for a newbie please

You want someone to make it nice and easy for you? Reading threads is too much hard work, but learning from videos is also hard work. Why don't you just signup for one of those black box bots? Set it up and it will make money for you without you ...

Jay helping out newbies

I don't know if that was meant ironically but I wouldn't go so far as to call is bullshit. That it works for mechanistic traders is beyond doubt. However, in so far as it does not account for velocity of price change, it does not account for ...

Are Risk/Reward ratios simply nonsense?

Yes, that seems like a good risk ratio if, for example, the probability of winning is >90% and the probability of losing is <10%. It would be foolish to not take those trades.

Are Risk/Reward ratios simply nonsense?