Today not looking too good on the short side, although long side doesn't look very good either... I expect to see some consolidation in the long term.. A break above 1.9510 might get me in the long, will let you guys know

Daily Cable Analysis

Agreed.. I like the concept, it just could potentially fail, HARD

Swap Trading System

Channel systems are great! Really look at the Vegas method in this forum, because as far as channel systems go, it is one of the best! As far as my system goes, it is relatively new and still in the 2nd week of forward testing, more than likely ...

RSI Daily Pivot Point System

There is no limit as to when you start moving your stop! As each completed bar develops, you treat it as if it COULD be the new pivot point. Let me show you an example below of my current trade in USD/JPY: I am using this is as an example of a ...

RSI Daily Pivot Point System

I'm not sure I like this question, but if I had to choose between the 2, I would choose #2... It's possible though to risk very little and make up way more than you risk

Which System Do You Prefer?

Better safe than sorry, and as I said earlier, There's no such thing as a dumb question. In fact, I encourage them!

RSI Daily Pivot Point System

That is correct! I am essentially guaranteeing myself 200 PIPS should this 340 PIP position turn on me!

RSI Daily Pivot Point System

DON'T MENTION TP'S AROUND ME I'm only kidding, but seriously, the very hinge of my system is that you maximize profits... Otherwise losing trades would more than likely get you in negative territory

RSI Daily Pivot Point System

Yes I am short..and I don't know if you are aware but i am STILL IN this position Yes initially this is the case, BUT the trade is going in my favor, so I keep moving the stop to lock in profits.. This paragraph above should explain it..

RSI Daily Pivot Point System

I've got it all figured out So here is the recent GBP/USD trade I've made, The down arrow is when I entered, and the RED LINE is my current S/L! Notice how it is set at the high of the completed bar:

RSI Daily Pivot Point System

WHOA! That's gnarly! Thanks for that! Who wants to see pictures, and of what?!

RSI Daily Pivot Point System

WOW, you guys are really pumping out the tough questions! Alright, I'm not sure if I'm allowed to post this due to copyrights, but it is only one page, and it explains Pivot Points... Essentially, A series of Highs continue to get higher, but ...

RSI Daily Pivot Point System

My current trades — I have received a request for my trades as I make them, so you can follow along... These will be as of last week, so get out your daily charts and see where I would have bought! All the info is right there..

RSI Daily Pivot Point System

Thanks for the advice, if you would like to see when I stop out, please follow the link to my system below... and some traders don't need to have a set profit, just a maximum risk they are willing to lose, so I do not have a TP EVER set... thus why ...

Daily Cable Analysis

I am still in that same short position from 1.9636 (340 PIPS), and I expect a downtrend as well still... I expect it to go down to about 1.9160 or so, but will, like I said earlier, keep an eye on your fib #! I will let you know when I switch over ...

Daily Cable Analysis

I appreciate your input, but please note that in my post I did not say I would follow Monarch's fib#, but simply keep my eye on it. As I have my own strategy preconceived, I have a general idea of when I will exit. Again I appreciate your concern!

Daily Cable Analysis

Thank you Monarch — Thanks Monarch for the detailed charts you've provided! I was wondering when I should leave this very long short position, and will certainly keep my eye on your fib #!

Daily Cable Analysis

That sounds great, I'm always welcoming improvements if you can think of them! Good luck!

RSI Daily Pivot Point System

forex2stay's ?'s — Forex2stay has posed some very interesting and relevant questions that I feel could benefit everyone so I'm posting them here.. Hmmm... good questions... If a new high develops, and the next bar goes below the LOW of that ...

RSI Daily Pivot Point System

the scenarios are listed above note that they will be reversed in a sell position

RSI Daily Pivot Point System