That's the market maker's problem. ditto Yes, uless you are with a brokerthat hasdirect contact with InterBank (or what ever it is , I have had a couple of beers ) Yes, and maybe. If they don't make the transaction they don't get the spread. They ...

Who Wins Who Loses

It's a slow old day but I'm finally inching ahead (up 80 pips as I type), I'll be in set and forget mode soon so I will have to see how it goes in the morning. I'll set my stops to at least take a profit on both units (I was in again at 255.77) and ...

MickD's 'Common Sense' journal.

I'm only relatively new to forex too but from what I understand it's like any other derivative/instrument in that the broker 'makes a market'. In other words the broker likes to have a buyer for every seller and he makes his money from the spread on ...

Who Wins Who Loses

I just finished taow last night, it was the Giles version with commentary, I'm now going to meditate on just Sun Tzu's chapters without commentary for a bit and relate it to the market, I had some ideas the first time around, another reading will do ...

Technical Analysis Fallacy

Thanks M.A.C.Doug, I have a few more I'm working on as I go, I just finished TAOW and I'm meditating on it a bit further, will post them in my journal soon, better get this one up for starters.

pipprincess' trading journal

I feel your pain, in fact I even wrote myself a little proverb to remember in the style of TAOW. "Don't send your soldiers into a battle that is taking ground quickly lest your soldiers be trampled in a hasty retreat!" cheers, and keep on pippin' ...

pipprincess' trading journal

Todays trade: long GJ @ 225.567. The market is flat at the moment after a huge sell off (I'm really going to have trade during the night to catch this action!). I will be sticking to the plan but I'm not going to look at the 1m charts today, I think ...

MickD's 'Common Sense' journal.

Yep, never again, I don't care how good it looks. I had been dancing with the A/J for a few days and while some pairs do similar things, things can change pretty quickly if you're not in tune. I could write a book on that trade alone I reckon, The ...

MickD's 'Common Sense' journal.

Wow!, what a battle that turned out to be!! I was speaking with a high voice for a while but I made it out with a few pips profit, I can't remember how many but it was only a few. I was in too much of a hurry to count Another lesson learned - ...

MickD's 'Common Sense' journal.

Well, the 'mistake' trade I put on this morning is working out ok, so far I'm up about 40 + 29 = 69 pips, I'm fighting the urge to buy another lot as it is advancing but history shows these 'impulse' buys can take away more pips than you may gain if ...

MickD's 'Common Sense' journal.

just closed out the first 2 postions for 122 & 103 pips respectively, I may have been a bit quick at pulling the trigger though, price has just continued a bit on the 1m/5m, may be a bit of noise but I didn't like the PA so I did some banking As ...

MickD's 'Common Sense' journal.

In again with the AJ, also bought GJ long by accident then bought another to bail me out as the pair were trending in my favour generally, we'll see.

MickD's 'Common Sense' journal.

While I think it sounds good in theory, R/R is not that practical IMO as you have to take what the market gives you - no more, no less. IOW you should be prepared to cut your losses as soon as it's evident your decision was incorrect to preserve ...

What do you think of Risk/Reward ratio?

Zoran, fti, would this be an example of 'snowballing' out of a bad postion (1)? I actually put this pos on by mistake, it is going against me but the general trend is long and I bought in at (2) with the double bottom, so far it is balancing my ...

Technical Analysis Fallacy

I left my positions open overnight with a SL that would have left me with a little profit. If I had have been trading live I would have nursed it a little further with a more profitable SL and further open positions, here's how I would have played ...

MickD's 'Common Sense' journal.

That was the aud/jpy. I am currently long at the moment and doing ok, I left it overnight with a stop loss that would have left me in profit (if slippage wasn't extreme at least), if I was using real money I would have nursed it a bit more and added ...

Technical Analysis Fallacy

Makes perfect sense to me

MickD's 'Common Sense' journal.

Just saying 'thanks for the advice' was a bit curt Leon and wasn't my intention at all, sorry about that, what I meant to say was I will also take it into serious consideration. When you say expolorer bar and act on the next candle, do you use the ...

MickD's 'Common Sense' journal.

It would be my pleasure Leon. Yep, new furniture, I'm trying out Oanda and I like it so far I must say. Thanks for the advice, luckily the price went in my favour (long) but I will be keeping a close eye in the lower charts to control exit signs or ...

MickD's 'Common Sense' journal.

Patience! Must....control....urge..to be in market...

MickD's 'Common Sense' journal.