If only he knew how to trade. video

What kind of music you hear while you trade?

I make it as simple as I can. It really is just take the first level hit and go from there. I have no bias either way. Funny how price can rise for three days straight and on the fourth morning bounce off the highs and rocket down all day. Helps to ...

Ramblings of a Forex Junkie

Any time I feel the market is a bit scary I just use this video or this video

Ramblings of a Forex Junkie

Excellent: Exactly the type of exchange I was looking for with the thread. Information I needed. On Monday My trading account passed a threshold, a big round number that I have trying to reach for some time. I think those types of events play ...

Ramblings of a Forex Junkie

Hi Kanzler, You will find also that when a level fails and you are stopped out typically there is a retest of the level and you will be able to enter in the direction of the sentiment driving the trade. These can often be held longer to earn back ...

Ramblings of a Forex Junkie

I would like to make one more quick point that I believe might be helpful. In the chart below you will see the long trade I posted earlier. This was NOT one of my levels. I took it because I thought it was going to go up from there. As soon as I ...

Ramblings of a Forex Junkie

[quote=stevexyg;6378001] The market does not and will never change. Traders are people with fear and greed and orders will always stack up in the same places. Some methods are more or less profitable with changes in volitility and some methods do ...

Ramblings of a Forex Junkie

That is a large part of the reason for this thread. I am not perfect. I am not a robot. I still am affected by fear and greed. It helps me to have these thoughts on virtual paper so I can reinforce the things I need to be working on with every ...

Ramblings of a Forex Junkie

[quote=billytt;6377911] I have traded other methods. Some work well, others not so much. I lost money the first four years I traded. I lost ten thousand dollars learning to trade futures after holding my own with equities. I have been there and done ...

Ramblings of a Forex Junkie

[quote=billytt;6377906] I don't expect everyone to see it my way. I expect to be disagreed with, its what makes a market. You see buy I see sell. We could both be profitable or lose on the trade depending on time horizon etc. Of course there are ...

Ramblings of a Forex Junkie

Ten years. About four in forex, equities and futures before that.

Ramblings of a Forex Junkie

Pips; what's the big deal about pips. All over this forum I see people bragging about pips earned. Would you be impressed if a trader told you they made four thousand pips a month, on average, month in month out. How about if a trader told you they ...

Ramblings of a Forex Junkie

couldn't resist this last one, risking the lows. Killed at breakeven done for the week. Hope everyone had a great week.

Ramblings of a Forex Junkie

Good morning: I am posting this chart to illustrate a few points I think are relevant. First I would like to point out that these trades were taken at a very critical level. When several factors line up at the same level often the trades can be ...

Ramblings of a Forex Junkie

Ok, all positions closed. Another nice trade in a nice week. I am going to sleep. Post mortems tomorrow. I made two mistakes I would like to point out. I think its a good learning experience. Good night all, or good day if you are in Europe.

Ramblings of a Forex Junkie

Third shot at the rolls if it cant break through this time I will prolly kill the trade.

Ramblings of a Forex Junkie

I said in an earlier post that I favor a fast move into a level with a large bar over a slow grind. I am posting this chart to illustrate why. Look at the mess to the left. It can be torture to watch price chew through that mess. There is always the ...

Ramblings of a Forex Junkie

Closing losers before your stop will not cause you to blow an account. There is a good chance though that it may be costing you some winners. If your winning trades are commonly not drawing down fairly close to your stop the stop may be too large. ...

Cutting Losses Before Your Stop

You will never find a way to consistently close a trade at the very top or bottom. You test your method thoroughly and arrive at a profit target that is most likely to be hit. This may involve trailing stops or using specific targets that is for the ...

Closing trades: What strategies do you use?

I spoke earlier about why levels hold. I would like to expand on that if I may. In the chart below you will note that the price was below the weekly open most of monday and then during late NY and Asia it sort of raced up to that price level again. ...

Ramblings of a Forex Junkie