Well Square 1 it looks like you may get the breakout after all. The time of day isn't good for you and you may have to sweat it out a while. Could still go either way. If I were long I would probably have my stop around 1.3455 and be ready to move ...

Ramblings of a Forex Junkie

I learned the same lesson years ago. Sadly it seems we all have to go through this at least once. You know now that the leverage you were using to build from 1K to 5K was deadly and you were trading on borrowed time. What you do now, will determine ...

Crazy day and lost it all

A warning: I am posting my trades today. The second entry is a little above the level I intended to go this early but I feel it will be educational and give you guys something to think about. Be careful if you choose to use these advanced ...

Ramblings of a Forex Junkie

The type of orders you use are not really important. What is important is that you are not buying big green bars and selling big red ones. We don't just enter because the market is moving. We enter because we have identified tested and reliable ...

Ramblings of a Forex Junkie

You don't necessarily have to be right to make money. It all depends on your time horizon for trades.

Ramblings of a Forex Junkie

I'm not necessarily right London closing above the high. If you are still holding you still have a chance. I covered my short at last weeks close so I am flat and will now post the answers to your questions.

Ramblings of a Forex Junkie

Also 1.35 is well within my stop range for the short.

Ramblings of a Forex Junkie

Ok don't take this personally but the only buyers at weekly highs are poor retail traders. The odds are in favor of selling the level. I am not saying it can't go up here but the odds are for the weekly highs to send price down. Yes price was ...

Ramblings of a Forex Junkie

I want to address all your questions completely. I am in a trade currently. First though I want to say read the thread carefully. I think you missed something. I don't buy weekly highs from below. I am afraid you may have a problem. Now your buy may ...

Ramblings of a Forex Junkie

The word system sort of galls me. It rubs me raw in a private place. I see so many traders on these forums talking about systems. When I see the word system in relation to trading, images of x must cross y while a is above b and g is over 50 and ...

Ramblings of a Forex Junkie

Its not that I don't backtest. I just don't trust it until its been verified with real money. I know that in the eighties the turtles method worked (lets call that the backtest) I also know that there is no way I could have traded that system with ...

Ramblings of a Forex Junkie

I enjoy your posts.

Ramblings of a Forex Junkie

Good post. I can't believe no one has said this yet. I trade a largish live account. I have a thread here, not a system thread, but I am trying to help people avoid some of the hardship I had to endure learning this business. I don't have time to ...

If it's such a great system, why isn't there a Trade Explorer attached?

Ok.

Ramblings of a Forex Junkie

If you think you can make a good strategy with the closes. Spend a little time and study the highs and lows. You don't always know which way to play the closes. Sometimes it takes a few days for the market to sort itself out. You always know what to ...

Ramblings of a Forex Junkie

Glad you enjoy them.

Ramblings of a Forex Junkie

Yes you're on the right track. The first weekly high was put in on Dec 19. Then price declined from that level significantly. Lots of sell orders build up there. It then takes several tries over three weeks to absorb all those sells. Once price ...

Ramblings of a Forex Junkie

I would NEVER have a stop even close to 300 pips. I can trade weekly levels with the info I just gave in the previous post. The stop right now would be fiftyish pips. Biggest stop I can remember using in the recent past trading weekly price levels ...

Ramblings of a Forex Junkie

Its a four hour chart. Two weekly highs line up around that number. Spend a little time with a EUR/USD four hour chart with period separators. Go back several years. Check your weekly ATR. for the time period you are researching. Look what happens ...

Ramblings of a Forex Junkie

Well GMT+4 is probably out, not my favorite part of the world Maldives would be the only possibility. I like Fiji and Tahiti though GMT-12 or 11. Also like Ecuador. Still wrong time zone but beautiful place and very low cost of living. Internet ...

Ramblings of a Forex Junkie