My T/P got hit last night, I had market bracketed and actually thought it would go UP and I add be adding to shorts. Anyway, went back in shorts at 1.2271. No target yet as I have errands to run, SL above 1.2323.

EURUSD only

I sincerely appreciate any helpful advise. Like my car analogy, a lot of my trading is by habit and don't remember all the traits needed for successful trading. Feel free to contribute more advise or to share your experience. It's a habit of mine to ...

Can YOU make money as a trader?

Yes, Yes. You have added excellent advise for getting back on track after a bad trade. I take a time out (TO) for other reasons as well. A surprise profit is good to TO, crazy stuff that affects markets I TO until the dust clears. Thanks for sharing. ...

Can YOU make money as a trader?

What would you like to buy? I have a lot of "stuff" to unload, need to have a garage sale to clean the garage. I do happen to have a 2001 Saturn SC2 for sale. We are original owners and it has less than 97,000 miles. Needs new rear wheel tires but ...

Can YOU make money as a trader?

Don't ever feel silly about missing a trade. It's part of the game. Take an indifferent attitude to the market, just like playing a game. The desire to make money, ironically, is a silent account killer.

EURUSD only

image Now what? I took profit at1.2330. I am clueless what is next direction as it was so fast. Fast moves, in my experience tend to bounce back. Waiting for next signal.

EURUSD only

Still holding and came back to pleasant surprise. Something spooked the stock market, more to come. I am moving TP and SL. Time for Supper, both at home and in the EURUSD shorts.

EURUSD only

I am not expert on TDI, but that separation between the green and red looks extreme. I think pull back is in order. Maybe after RBA rate decision?

Trading Made Simple

In shorts already, I have hard target on 1.2330 but am watching, will trail stops when I leave house, have to make a rubbish run. image

EURUSD only

That said, here is an example of a nice setup that is discretionary and may or may not work. Because the -DI has jumped above the ADX, I sold here with hard stop at 1.2509 and hard T/P at 1.2330. Now, this trade is to be managed because ADX is below ...

Can YOU make money as a trader?

A word of caution. Do not always believe what is posted about a profitable trading system until you have tested it AND made it your own. What do I mean by "make it your own" you ask? Well, everyone is different, some people like slow and steady, ...

Can YOU make money as a trader?

That is the template I used to stay in the game, by trading both trend and range markets. If you have preferred style of either trend or range trade, you can use ADX to keep you out of market when odds are against your style and only put on trades ...

Can YOU make money as a trader?

So here is nice template for struggling traders. I put a few horizontal lines in where key things are happening. Trend Trading: When the ADX is rising (White Solid) you should be looking up and following the bollinger bands (BB) in the trend. This ...

Can YOU make money as a trader?

I am not sure if you are referring to my or Gengster? If it me, I don't know how to set up a TE and really don't care to learn as I have nothing to prove as my ego and pride are long gone, down though the holes in my pockets. If you want to add ...

Can YOU make money as a trader?

Learning to trade is like learning to drive an automobile. At first, you pay attention to every move you make. After a while, everything becomes habit from putting in the keys, turning the ignition, putting into drive, remove the parking brake, put ...

Can YOU make money as a trader?

And how is your trading going with that mindset? Is it working for you or not working?

Can YOU make money as a trader?

My New Years loss was because the market was moving but my broker was closed. Your broker does not stop you out when the broker is closed. They don't always stop you out when they are open either. Look at the SNB unpegging classic. I was lucky not ...

Can YOU make money as a trader?

Do you have a trading journal? I have a comprehensive trading journal where I record every potential trade I put on. Often I don't even catch a trade which shoots right up and I have a note in my journal about this missed opportunity. I like to ...

Can YOU make money as a trader?

So.. The first step to trading successful trader is attitude about what the markets are. The second step is getting your thinking aligned with how the markets work or trader psychology. There are some great books and most you can find for free on ...

Can YOU make money as a trader?

Hillary Clinton. Technically, Hillary did not trade Forex as it did not exist when she was trading, like the Euro. She traded commodities which is what they used to be called. Want more than one? The Williams non-brothers, Larry and Bill. Need more ...

Name just ONE successful forex trader...