Why did I choose 1.32995 for the bottom?

Ramblings of a Forex Junkie

Feel free to share any knowledge you feel is important. Just be ready to back it up, these guys are pretty good and ask tough questions.

Ramblings of a Forex Junkie

Much bigger area than I trade but: I would put the boundarys at 1.32995 and 1.3403ish. Yes if it was the type of trading I do I would have a pending buy at 1.34. The stop would have to be under 1.3350 to be below the last swing low. Target would ...

Ramblings of a Forex Junkie

Exactly, everything I am saying is in the context of the information that I have put out. I only trade at specific locations on the chart (specific prices). Its possible to put up a five minute chart and your minds eye will see support and ...

Ramblings of a Forex Junkie

I eased my transition to full time trading by taking a job working at night. I had a job which would allow me to trade my normal method as if I were trading full time. Most of the people around me thought I was nuts as I gave up a much larger sum of ...

Ramblings of a Forex Junkie

Yes these were things I didn't know. I didn't really know any traders when I started this and there aren't a lot of threads that address the realities of trading. You will have a challenge in that you trade very short term for small targets. You ...

Ramblings of a Forex Junkie

Your screen time needs are going to depend a lot on method. You can't take a trade if you aren't awake to enter. Some methods allow for pending orders to be used but if you aren't in front of the computer you can't reverse after a stop out. I think ...

Ramblings of a Forex Junkie

So, you want to trade for a living. You have heard the advice. You have heard that you need proper capitalization. You have heard that you need a clear concise and consistent trading plan. You have heard that you need an edge that can be quantified ...

Ramblings of a Forex Junkie

No reason you can't do what works for you. My only questions, what do you do when you hit a losing run where your margin is too low to enter a position at your chosen risk level? How do you account for volatility in adjusting stops to the current ...

Ramblings of a Forex Junkie

Leverage: Its a wonderful thing and a terrible thing. Leverage allows us to achieve things in life and in trading that would be impossible otherwise. Imagine trying to buy your first house but not having access to a loan. Imagine buying your first ...

Ramblings of a Forex Junkie

Semper Fi (I was army SOF but worked with marines and liked it every time) It takes guts to post live trades. Good luck with your quest. If I can help in any way just ask.

Ramblings of a Forex Junkie

I want to speak specifically to point ten in your post. I get many of the emails that I am sure most of the readers here get. It seems some guru is always selling their services to the uninformed. Many if not all of these gurus cross market with ...

Ramblings of a Forex Junkie

Thank you for your kind thoughts. Funny thing I used to hear at the airport (there are two types of pilots who fly retractable gear planes, those who have landed gear up and those who will) You didn't come right out and say it but I will. Orders ...

Ramblings of a Forex Junkie

You will never really know for sure. The market can do anything at any time. I think that is a great thing to make sure you remember as you are trading. There are a few good clues. If the previous day closed very near its high and the current day ...

Ramblings of a Forex Junkie

Not a video but here is a chart picture where price bounced off the privious day low. Often you will get a bounce off your chosen level then a retest. If you are a conservative trader wait for the retest so you will have a logical stop below the ...

What do we mean by Bounce off in forex

I read some research a few years ago that proved that its better expetancy to hold the entire trade to exit. I wish I could remember the author I would link it. I think the only traders who benefit from splitting exits are the ones who are long term ...

Ramblings of a Forex Junkie

I have to go right now more business with the house. New essay coming later. I want to talk about leverage.

Ramblings of a Forex Junkie

Here is the tough chart for the day. The first entry would have been a loser. After the GU news came out the price ripped down. An entry at the open would have lost but the previous daily low held. The two losers were covered and an additional 2R ...

Ramblings of a Forex Junkie

I see tons of lurkers here and I am the only member. People, take a minute and join the site. The admin has gone to the trouble to build this great site where you can come and learn. Join and take part in the discussion.

Ramblings of a Forex Junkie

Hello everyone. I am attaching a couple of charts. Earlier in the thread I noted that often our entries will be very near the high or low of the day. This morning was a great example of this. I was rather tired as I am still going through the ...

Ramblings of a Forex Junkie