This is exactly the reason I trade on such low leverage and only take trades in specific trusted places. Retails can win at this game but most don't have the discipline to watch a market all day and not take a trade or take only one or two. Jim ...

Ramblings of a Forex Junkie

London close was very good today on GU and GJ nice trade. I would only offer that the Monday low was a nice target for your short. It is Ok to close partial positions but you should remember that this will lower your overall expectancy while perhaps ...

Ramblings of a Forex Junkie

I would certainly never argue with trading a Yen pair during Asia. Nice trade. I just got a quick twenty pips off GJ London close. Thinking of my next move. GU currently testing the daily open. May just go to sleep.

Ramblings of a Forex Junkie

There are many trading guru types out there with crap systems who scam people every day. There are however some who teach good solid methods. These teachers may or may not be great traders. This is actually quite common in the real world. Many times ...

Why are most Forex Authors not active Traders?

This is not something I have done or tested. I don't take note of the London open price. this may be something you want to spend some time testing. You might possibly find something that gives you an edge. If not you will surely learn some things by ...

Ramblings of a Forex Junkie

Gotcha. :-)

Ramblings of a Forex Junkie

GU only went about 18 pips below last week low. Not broken in my opinion. I don't consider the weekly high/low broken until at least twenty percent of weekly ATR is exceeded. Your instincts are on track just need a little refinement.

Ramblings of a Forex Junkie

Not a chance. London closed four hours ago. I won't trade again until Tokyo at least.

Ramblings of a Forex Junkie

Hi PTL makes perfect sense.

Ramblings of a Forex Junkie

I would like to point out that both EU and EJ had their daily open trades pay out nicely today. Both GU and GJ had nice trades off the London close from Friday and GU went long nicely off the Friday low. GJ just missed the low so no trigger there. I ...

Ramblings of a Forex Junkie

This method works with any news. The key to getting the best trades is to look for major impact combined with a surprise. Last night for example there was a terrible drop in factory orders for Japan. The news was 23:50 GMT. The next fifteen minute ...

Ramblings of a Forex Junkie

You are off to a good start. I would suggest that you reduce the number of lines. I typically only have three to five that I am focused on. The absolute required lines to have each day are: 1. The daily open 2. The high and low from the previous ...

Ramblings of a Forex Junkie

I dont mind if you post a trade, however I will insist that you post a chart and an explaination of the reasons for the trade. I think your Euro long was not a bad entry as it was at the London close from Friday. Your GU short was a poor decision as ...

Ramblings of a Forex Junkie

The range is always rather small before NFP. That is why I don't trade anything but the breakout on that day.

Ramblings of a Forex Junkie

It's already 14:00 in London, and the entire range for the day is less than 38 pips. You have to ask yourself at this point: What do you hope to gain by continuing to try to trade this?

Ramblings of a Forex Junkie

When you get the inside bar its easy. Stop goes on the opposite end of the breakout. On a day like yesterday when the news bar is so big it is a little tough. I will use a disaster stop around half the bar length but I won't let the loss get that ...

Ramblings of a Forex Junkie

I have a similar view of round numbers. Big players know that inexperienced and weaker traders will place stops there or try fading the level. Many weaker hands will get trapped and hurt trying to fade the round numbers. An objective look at a lot ...

Ramblings of a Forex Junkie

I don't have the best history with UJ. I do trade it and I do occasionally make a little money off it but it slaps me around more often than I care to admit. I seem to zig when I should zag every time with UJ.

Ramblings of a Forex Junkie

The accuracy is somewhat variable. You need about three years of data to really get a signifigant sample to work with. If you do this with a hour chart and just move that close line to each new day you will start to see some patterns. How are ...

Ramblings of a Forex Junkie

Only Arizona as far as I know.

Ramblings of a Forex Junkie