I almost fell for purchasing this back when I was trying to learn everything in the world about technical analysis. I did some introspection and determined that profitability isn't in a theory created by rocket scientiests (trust me, I have them in ...

Delta Phenomenon

The consolidation today is a little too much for me. This indecision isn't supporting my M5 trend following. The committment of trader reports are still showing bullishness. The U.S. economy is slightly faltering, but I'm bullish for the long run.

EURUSD

As long as you are being nimble and managing risk, this strategy sounds pretty...sound. I'd be sure that you at least glance at a larger timeframe to see if you are going long into major resistance or going short into major support. Just control ...

Super Simple 5min Scalping

I blew a $50k FXCM demo account in 3 minutes I went long, short, long, short, etc. and burned away the entire account in commissions . It was a lot of fun ...and then I realized it was remarkably nerdy so I went and took a jog outdoors.

Can you intentionally ruin an account easily?

I use both technical analysis to determine my stop position and money management to determine my lot size. If my stop is 20 pips away and I am risking $500 on this trade, I will trade ($500/.0020) = $250,000 of the currency or 2.5 lots. This means ...

How do you set your stop loss? TA and MM Considerations?

I have recently had a change of heart about this issue. In my personal trading, I use at most 5:1 leverage. My typical leverage is 2:1. However, as I have been examining my journey to profitability, I realize that I would have blown fewer accounts ...

Could 10:1 be the new leverage in US Forex?

Dailyfx.com is great for information about the economic calendar and when particular events will be posted. url If you want to become an expert though, I'd suggest starting with Wikipedia and reading everything about each nation. I'd then proceed ...

Learning about a currency - gbp/jpy

Agreed. Indicators really do help the mind understand price action. However, they need to be put into their place - an indicator is the tool to aid in understanding price action, not the other way around. Indicators help the technician determine the ...

Hello - Price Relativity

Some people have locked in some nice profits on this downward trend. Traded the breakout but stopped out at break even. I don't see this moving very far in the next few hours. Would take some substantial volume to push us past 1.4070

EURUSD

I think that is a perfect way to start. That is the method I used to become profitable. I would drag a chart one candle at a time and use a spreadsheet to log trades and monitor my performance. This is a very good way to start. Demo trading comes ...

Demo Vs. Historical Backtesting

The first thing you need to do is realize that the GBP/JPY is a representation of how the two nations of Great Britian and Japan interact. If Japan gains strength, all currencies related to Japan will gain strength. If Britian gains strength, all ...

Learning about a currency - gbp/jpy

If this is a mechanical algorithm then I would strongly suggest you test in more markets, timeframes, and periods of time. If this is traded by hand then I think you should try it in real time and "own" your system before going live.

00:00 GMT Breakout EURJPY

Best advice I ever listened to - buy one book or one trading system and don't stop working on it until you are profitable. Following this was the best thing I ever did in my trading life.

what is the best forex book?

You only need to be in front of your computer for as long as your trading strategy calls for. I'm a day trader so I'm in front of the computer for 5 hours or so per day. Most of my action comes right off the bat in the morning. I follow the volume ...

in front of PC all the time??

You have to determine the appropriate amount of capital to risk. If your stop is very, very close then it may be appropriate to go "all in". You determine how much you should invest by dividing your maximum dollar loss on the trade by the market ...

How much Risk to Reward Ratio Should be used?

The number is typically in lots which is a standard $100,000 (assuming you're trading dollars). Since Forex is off-exchange, you can't really rely on those numbers...that's just the number which your group of banks/dealers are reporting to you. ...

Question regarding Forex Volume numbers

Hmm, it seems as though one important fact is overlooked here - when a stop loss is hit, YOU ARE WRONG! Pull the plug and save your money! Unless your system calls for you to stay in, that is.

Well working exit strategy

All systems will eventually stop working. This is because the market is always adapting and a trader must keep an arsenal of actionable ideas for any situation which the market presents. While a system will eventually stop working, it will also ...

one simple question, how can a system stop working?

Price can only go up, down, or sideways. Such a simple fact...but it is almost all you will ever need to trade. Price is going down right now...so I'm short!

EURUSD

No book can prepare you for the real deal. Learn from the best teacher in the world - the market.

what is the best forex book?