Yes, the two tend to follow each other around - which is why I am very cautious when the two charts are headed in opposite directions. When that happens I stick with the pair that is clearest - most recently this has been E/U.

Trend Trading Chart Thread

I would say that it stepped out some time ago

Jacko's Forex House of Pleasure and Pain

Hi Pip, I have found that it is best to take a step back when drawing trendlines and fib retracements. Zoom out to about 300 bars and use the most obvious swings to draw the fib from. In my chart I have highlighted two possible swings. The first, in ...

DanUK Simple EUR/USD Trading Journal 2009

I only move my stop once price has moved 100 pips... as I entered at 1.4700 I didn't move to breakeven until price got to 1.4800, then price got up to 1.4900 so I moved my stop to 1.4800 etc. The only reason I do this is because it has proved to ...

Trend Trading Chart Thread

Ooops — I forgot to give any advice... Assuming you are familiar with the basics: Choose an existing trading model that works and you are comfortable with. Demo trade it for 3 to 6 months. If you are consistently profitable open a small live ...

Any advice for new guy?

Actually somewhere in the region of 25% to 50% of all new businesses fail within the first year and 65% to 95% of new businesses fail within five years. But I wouldn't trust the statistics too much... statistics can be messed around with until they ...

Any advice for new guy?

You've confused me a bit here!? I have a long open on E/U from 1.47 (stop loss currently at 1.49). As long as E/U remains in an uptrend I won't be placing any sell orders - I only trade in the direction of the trend. I do not have any ...

Trend Trading Chart Thread

Having said that I won't trade G/U it is interesting that we seem to be having a reaction at the 50% fib level and with confluence of the recent up-trendline... may be worth placing a small trade on it

Trend Trading Chart Thread

Hi TradeOne, I am certainly watching this but I am not keen on trading G/U until we are back into a defined trend. E/U is my preferred choice at the moment! Regards, Dan

Trend Trading Chart Thread

Hi, Well I am still in a long trade on E/U so I will be waiting for that to play out before looking for another position. If price were to drop now I think 1.4800 would be worth considering. With G/U it is still too early to say - I think it is ...

Trend Trading Chart Thread

That's why it's a hard question to answer. Without the profitable system you won't make any money. But just because you have a profitable system it doesn't mean you will make any money! So you tripled your demo account but burned your live account? ...

What is most important in trading?

So, did you find a system in the end or are you still looking?

Trading System Suggestions..?

Chicken or Egg?? I would say the most important thing is having a profitable system/strategy - without that no amount of money management or discipline will make you profitable. Having said that if you don't have the money management and discipline ...

What is most important in trading?

Hi, If price starts to drop now I will be looking for an entry around 1.9100 - that is the 50% retracement level (ish). I will also be watching where price is likely to intersect the trendline - if that is in the 1.9100 area too then even better! ...

Trend Trading Chart Thread

Hi Brennan, Yes I tend to use 50 pips as a rule because that is what I use on the two main pairs I trade (G/U and E/U). However, part of the reason I started this thread was to test things like the size of an influential bounce and stop loss etc. so ...

Trend Trading Chart Thread

Hi, Yes this thread is basically an extension of using Jacko's method on other pairs/markets. In my opinion the 50% retrace level (around 1.4800) represents a minimum distance for price to retrace before I would be interested in buying again ...

Trend Trading Chart Thread

Yes that's right. You should have a plan and stick to it but at the same time you need to be remember that all these tools (trendlines, fibs etc) are subjective and should be used as a guide to the right area only - it's not an exact science. Part ...

Trend Trading Chart Thread

Hi, Why would it be too late? Could you explain what you mean by that? I shorted originally at 1.0800 and was closed out at 1.0700 for +100 pips. Price then went back up to the trendline and bounced off of 1.0750 giving me an entry at 1.0700. Does ...

Trend Trading Chart Thread

Me too. I have tried a few different trading methods but trend trading on H4/Daily charts has made my life much easier. My biggest problem has always been getting in my own way - I over analyse too much. Once you learn to use just a couple of simple ...

Trend Trading Chart Thread

Yes that's right - if it misses the target by just a few pips I would still be happy to move my stop up. Regards, Dan

Trend Trading Chart Thread