Very good. I botched it up today. I should have been short from yesterday when the weekly high was hit the first time. I am distracted and it shows.

Ramblings of a Forex Junkie

You're answer was much better than mine. Could you please come over and slap my hands when I attempt to enter a trade into a bigger level as I did last night. This was my first EU entry in a while as the yen pairs have been better trades. I took EU ...

Ramblings of a Forex Junkie

You will have wins and losses just as with any other trading. key is to control those losses and enter in good spots to maximize the chances to catch the winners. I normally don't trade this late but the first three trades I entered lost today. The ...

Ramblings of a Forex Junkie

Unusually large difference. No experience with FXCM but compare the two when the price should be back at a level. If they reach the level at the same time but the levels are just different then no harm no foul. If the levels are getting hit on one ...

Ramblings of a Forex Junkie

Normally I will just watch the trade and exit if the level is holding. The weekly levels are stronger than the daily so it can also be a good plan to just exit and reenter if the level is broken. I had a bad night as I set my trades and went to ...

Ramblings of a Forex Junkie

You can use one of two choices. 1/2 range size or stop at opposite end of range. Add spread to either.

Ramblings of a Forex Junkie

[quote=nollej;6437596] I'm considering it. Would need to add a couple of hundred to the account to make the trade management realistic and I do other trades which I haven't touched on in the thread and I am not sure I want to make public. Not sure ...

Ramblings of a Forex Junkie

This is where macro factors come into play a little. For the last two weeks the yen has been dragging all the other pairs around a little. The japanese and the chinese have been using the euro and to a lesser degree the pound to achieve their goals. ...

Ramblings of a Forex Junkie

71.2 pips. I took profit at 124.50. This is one of the discretionary things in my trading. I will vary the percentage between 15 and 25 %. I have seen over the years that thirty to thirty five pips is enough for the stop. Also as the volatility ...

Ramblings of a Forex Junkie

You can trade the method with any size account. What I am saying is you need a large account to make a living. I could never pay my bills with the gains from a 5K account. You can build that 5K account into one that will pay your bills though in a ...

Ramblings of a Forex Junkie

Back later guys. Have some business with the new house.

Ramblings of a Forex Junkie

That only applies to trading off the daily open price. I will take a trade off a daily high or low and a weekly level on the first candle of the day if that is when it is triggered.

Ramblings of a Forex Junkie

Now the two questions I was asked by PM. 1) How do you set OCO with Oanda. Well you can't. I use another broker. I am paranoid about my main account information getting out on a public forum so I have been mirroring my trades on my Oanda test ...

Ramblings of a Forex Junkie

Here are my trades from today. I entered UJ and GU at almost the same time. GU was a fast loser so I entered a pending for EJ and went to sleep. UJ and EJ both worked nicely for a little over 2R each. One R lost obviously on GU. I don't like to have ...

Ramblings of a Forex Junkie

Square 1 here is a chart from today EU. I have a green line at the London open price. Notice price went directly to the previous week close. This is what caused the support that you are describing. The purple line is the privious week close. Based ...

Ramblings of a Forex Junkie

As I generally trade the Weekly open and close as intraday levels I use the smaller stop based off the Daily ATR.

Ramblings of a Forex Junkie

For daily levels I use the 5day ATR smoothed with the 5EMA (five days in the week). For a weekly high or low I will use the 4week ATR smoothed with the 4EMA. (four weeks in the month). I generally use the smallest stop that I think is practical. If ...

Ramblings of a Forex Junkie

I received two questions via PM today that I would like to answer in the thread. I think my answers should be read by everyone following the thread. I will not reveal the names of the members but the questions and my answers will be educational. I ...

Ramblings of a Forex Junkie

In looking at your chart, the thing that stands out to me is that you skipped the long trade at the weekly open and last week close. If you are using the London open as your daily open then this would have been your first level hit for the day and ...

Ramblings of a Forex Junkie

Yes, I think I may have even posted one of these trades early in the thread where I had been long during London and then shorted the previous day high later in the day during Asia. Typically I will only do this with a stronger level like daily or ...

Ramblings of a Forex Junkie