I can't believe someone as well known as Bill Williams could come out with such twaddle. If only my broker was price shading, I'd be able to fleece them for every penny by arbitraging with an interbank feed against them. Sadly, mine is too honest. ...

The truth about retail Forex brokers !!

+1 I had the same conversation with a trader at a spreadbetters in the UK last year too who said much the same thing. He also added that of their 20k+ customer base, 20% are successful (not losing money, so that includes the break evens). But plenty ...

Broker Fairness?

RC 'fraid not. My broker's spread with NZDUSD is so expensive I'd have to see a convergence of the moon, stars and planets before I could afford putting a trade on it. Yesterday was a bit mental no? I got out about break even after performing a ...

No Brainer Trades

Egkid I'm going to have a bash as to why it may have been the case. i) Both 1.2736 and the 1.3293 (I had 1.3300) are support and resistance. ii) Price had been building value around the 1.2700 mark for some time. iii) The previous area of value ...

EURUSD a huge buy above 1.2736

Lib/Redcabbage... exactly what I was thinking, which is it? I've plumped for half on each level, but I've got a nagging feeling that these levels are almost too obvious. Libb - by the way, average ATR is 236 (based on past 14 days). That still gives ...

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Thanks TS - will keep a close eye out for that. Thinking it through though, would you change the levels for each session? Because presumably the OHLC for a European is going to look different from US? GW here's a chart or two with the open from the ...

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Good stuff GW. I've had a week off trading reading and testing a plenty too funnily enough. I noticed that the midnight (00:00 GMT) open (not just range) is often used as S/R - something which I've never noticed before.

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Hello DRT, When I first saw this I skipped over it with the usual yeah yeah yeah. But then I read your thread from last year, put aside my skepticism and before you know it, I'm head deep in market profile and psycho-cybernetics. All interesting ...

EURUSD a huge buy above 1.2736

Horses for courses — I agree, and don't at the same time. I'm a member of Jacko's group since November last year, and have been swing trading EURUSD for over a year. It's been successful, it's compounded profits, it's had it's shaky points ...

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TS, I'm in long since this am on EUR but you got me worried, if I'm in line with the analysts, it's usually a recipe for disaster. Those guys are nearly wrong enough to trade contrarian off them.

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Hi Libb, me too - breakout reversals in effect seem a lot safer (GBP has just done exactly that - retracing using the breakout point as support - though I was too busy typing to catch it...) I was reading FTI's thread (technical analysis fallacy) ...

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Well spotted Willow. I didn't take it because in general breakouts give me the heebie jeebies, mainly because they (my levels) fake out more times before they breakout, which is why I'm drawn to trading reversals. This is one area I know I could ...

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Ah, I get you. Sorry, I got completely the wrong end of the stick. Until next time...

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Hi Tori, how come you move your TLs? I keep mine in the same place to see them break or not. Once broken, they're binned. Curious to know, not saying one is right or wrong. As it's 3am, maybe leave till tomorrow eh?! All the best

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Hey Tori, my diag TL on JPY came down a bit lower than your pic - to coincide with 96.61 (it has a lot of previous, not shown) which gave a quick 30 pip scalp. You can't beat these TLs together with horizontals, really. And then on the breakout ...

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Makes a lot of sense, cheers GW

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Hi GW, how's tricks? Funnily enough just reading Wyckoff after your rec last week - thanks for that. Two questions re dollar index. I know the theory but never use it in trading 1) where's a good source? 2) how do you actually use it? Presumably if ...

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Hi Tori, dollar index is made up of a bunch of weighted currencies compared to the dollar. So EURUSD & GBPUSD fall for eg, USD index climbs. It's high relative to 2007, but have a look at the monthly: url

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Spot, I'm seeing virtually nothing at the moment. Annoyingly. G/U has decent resistance at 1.5262, and a little at 1.5200, but that whopping great downward TL may make 200 the better option. Not sure we'll see it for a while tho. Poss downward break ...

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Thanks — Cheers GW that's helpful. I've noticed it's really not done me any favours of late and I was wondering if I was missing something - because all too often price tests my entry point a second, or even third time, and then goes into ...

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