Killed this trade Sterling acting odd.

Ramblings of a Forex Junkie

This might be a tough one. Targeting the red line.

Ramblings of a Forex Junkie

[/I] Well I am proud I vouched for you. You get it. Please have your friends read this thread and join the discussion here. I have laid out all a beginner needs to know in order to survive long enough to figure this business out. You open yourself ...

Ramblings of a Forex Junkie

Do any of you guys have any specific questions I have not covered? I am planning to continue with the essays but wonder if I am missing anything that might be on your minds. I am sure I don't know all the answers because I am thick at times but I am ...

Ramblings of a Forex Junkie

Wow, look at that, it really was the entry of the week.

Ramblings of a Forex Junkie

I have watched this video many times. It is fascinating to watch trading back in the day. I was fifteen when this was filmed. Wish I knew then what I know now. One thing of note, when you watch the video. Each time you get a look at the trader's ...

Billion Dollar Day video analysis

I'm glad you enjoyed. Feel free to post if you have anything to add. I'm always open to learning.

Ramblings of a Forex Junkie

Unfortunately it did retrace a little after hitting 1.35 but not far enough to trigger my buy at 1.34790.

Ramblings of a Forex Junkie

London closes at 17:00 GMT so you still have a little time.

Ramblings of a Forex Junkie

Don't remember the exact quote but Bruce Lee said some like: Its better to practice one kick a thousand times than a thousand kicks one time. If your experience involves ten years of bad trading you will be far worse off than someone who has two ...

How do you count your trading experience?

Remember, determine the stop placement first then adjust your position size to the correct units. Two percent is just a guideline your may want a little less or a little more. The amount you risk on any trade is a function of your maximum allowable ...

Ramblings of a Forex Junkie

You should determine your TP not by a dollar amount but at a logical place where price may stall or reverse. If you are trading for a dollar amount you may be losing some profit by closing too early or you may be getting stopped out too often ...

Ramblings of a Forex Junkie

Yes if you remember a few days ago i chose my direction for the day based on the first hit of a level. If the first trade that fires off is a long then I am looking long until stopped out. If I have a bias at all its after the first trade of the day. ...

Ramblings of a Forex Junkie

Doctors complete college then go to medical school. Then they serve a three year residency. Only then after many years of school are they allowed to practice their profession. Attorneys complete college then go to three more years of law school and ...

Ramblings of a Forex Junkie

I don't use ATR to determine trade entries. I use no indicators for trade entry. I only use ATR to set stops. My testing and experience tell me that I want a stop that is approximately 20% of the five period EMA of the five day ATR on EU. (say that ...

Ramblings of a Forex Junkie

I consider my daily open 00:00 Eastern. This is 05:00 GMT I mark the price when the candle opens. I then wait for price to move away and create some separation. My definition of separation is minimum two complete fifteen minute candles that do not ...

Ramblings of a Forex Junkie

Your next critical level is 1.35. If the price retraces back below last weeks high after hitting 1.35 you may be in danger. Remember anything can happen be ready for anything. The current weekly ATR is about 225 so in my view the short at last weeks ...

Ramblings of a Forex Junkie

London closed above the level. I would have closed my short after that close if I wasn't already out. London are the most important forex traders in the world and they wanted their market to close above the level. Don't fight the 800 lb gorilla in ...

Ramblings of a Forex Junkie

Going back to our earlier discussions about longer term holds. The chart below illustrates what could be the entry for the week, quick touch of last weeks close. Maybe, maybe not. With NFP week you never know and I tend to use smaller positions and ...

Ramblings of a Forex Junkie

First entry closest to green line. Second entry is the higher one.

Ramblings of a Forex Junkie