Thanks, I'm glad it made sense. I wasn't suggesting you should have taken the long trade. I think you got it at the right spot for the short as it had hit the 50% ret of the last thrust. I was simply showing you what a high probability set up looks ...

Trading with the Edge.

I agree with Akuma on that point. The reason being is if you backtest PFs, how do you know which one is the appropriate pivot? I suggest you use vhands. Blueruby has a thread in which he does a great job explaining how to use it. Once you get it ...

Trading with the Edge.

Here's the second chart showing the bounces on the LML. Any three pivots will suffice to draw a PF. However it doesn't mean the PF will describe price. What we need is for price to respect the PF as this one did. Once price shot up after the fourth ...

Trading with the Edge.

Here you go. Here's the first chart showing the zoomed out view. Measure the Fib retracement from the low at 9402 to the high at 9510. One of the things I've found is that confluence of PFs and Fibs work very well. Morge is a fan of DiNapoli's work, ...

Trading with the Edge.

I'm impressed with your honesty. Now here's the issue. You're trading PFs as designed by Andrews and disseminated by people like Morge, Mikula, et al. You stated earlier that according to Andrews, the ML will be hit 80% of the time. The first point ...

Trading with the Edge.

Zones, Have you read Morge's stuff? He's the only one of the few sources that goes into great detail on entries, targets, and stop placements. You really should still be in this trade.

Trading with the Edge.

A. Overbought is a symptom of a trend. B. Whenever a trend has persisted for some time, there will always be those who start calling for a reversal. It's human nature, just as rooting against the Pats came naturally for so many people this year. ...

Technical or Fundamental-which one to choose?

Hey Zones, Ok, so why in the world did you put your stop at 9735 on that first trade? You had the PF showing you a ML at 9705-9710 and you entered at 9917. Your target was 200 pips away and you slap on a stop at 9735 when you had a whole row of tops ...

Trading with the Edge.

During the 1980's Japan was flush with cash. They didn't have a whole lot to do with it at home, so they started buying up America. It quickly gave rise to some serious jingoism which hit it's peak when they bought Rockefeller Center in New York ...

US Debt holders - What is the UK doing???

Sure, I'll just use last month's profit for my half.

10% Profit Possible?

Yes, there are some of us who make 10% a day. There's about 1,000 members here who do it all the time. However, as pointed out a few times in this thread, we continue to run out of money to make. This is precisely why the US continues to print ...

10% Profit Possible?

I've had this for years. It's really great for getting yourself into the right frame of mind before you start clicking buttons.

Recommended forex books

This comes pretty close. url

$1,000,000 Traders!

"ALL BIG INVESTMENT BANKS MAKE HUNDREDS OF MILLIONS EVERY YEAR !!" Many banks make most of their FX money servicing customers. In other words, they collect the spread and some may even front run. I took a seminar with Van Tharp in 2002 and one of ...

Why trading system don't work

Well, I'm flattered and glad I could help in some way. Have you looked at Tim Morge's site? It's called Medianline and he's got some great stuff there, particularly on entries. If you want, send me your email addy in a pm and I'll send you his ...

Trading with the Edge.

Hey, I agree with your assessment of an edge. I'm a fan of Pitchforks. I'm looking forward to your analysis.

Trading with the Edge.

Another resource is the "Power of Now" by Eckhart Tolle. I think many of us are aware of the idea he presents on a very basic level, but like most things it has to be brought to the forefront of our consciousness to understand and practice it so ...

How to better control our emotions?

No, it's free. Here's the link. url My friend has bought some in-depth stuff at a cheap price and he swears by it, but I haven't needed it.

How to better control our emotions?

Cognitive rational therapy comes to mind. Most people balk at it, but it's pretty damn logical. The fact is that most people don't want to take responsibility for their feelings. Another thing to check out is EFT, Emotional Freedom Technique. It ...

How to better control our emotions?

You are a cynic. So am I. Screw em, I say.

My thoughts