I've been waiting for this exact idea to trigger all day

AUD/USD

Try the following: If you don't have a set of rules get some Journal every day and review your journal each week to spot behaviour patterns. If you don't have a checklist (check for news - trend direction, higher TF direction, any major S/R up ahead ...

Psychology in trading

Small short targeting 2315 from 2345 (reaction to 4H 150 EMA + confluence). Beenholding since yesterday and since watched the same setup on eur/jpy which I passed on so as not to have correlated trades. Since then E/J has played out nicely while ...

EUR/CHF

That won't help you. The 90-95% fail because they look for the answers in the wrong place.

Are You Ready/Prepared to trade Forex Live?

This ^^ Anyone who uses the "death by 1000 cuts" argument for not placing stops - it's not the fact you're using stops that's the problem...

Do you believe fixed stop-losses cause losses in the long run?

2% here. Not at all interested in win rate or needing to be right.

How Much Do You Risk Per Trade?

You could use volatility to calculate your stops then trail or set target profit based on R multiples (multiples of risk). That's how I manage my 4H trade strategy. Put on an ATR indicator (you can drag it onto the same window as the stochastics ...

What's your advice for Risk/Reward on this trading strategy?

I spend less than 180 minutes a day on trading and plan to keep it that way. Targeting 2R/week (1R=2%) from 4h/daily charts. GL with your plan.

With Only 180 Minutes a Day for this Forex Crap, How Far Does Luck Go?

I'm getting a good 2-3R/week trading the (james16) base MA system. Mostly on 4H and works on various instruments when the conditions are right. The trick is to only take trades where there is good confluence and PA. I use the 150 EMA, 25 EMA, 6 EMA ...

Do you believe moving average systems work?

One that produces a positive return over time. I don't see how PHDs and rocket scientists would help, nor do I see the size of an account as having any bearing on an edge. Are you profitable?

Need luck or skill for trading?

I don't think luck is needed to do this properly. You need luck in a casino. In trading if you have an edge + rules + plan that produces a positive return over time then you just need the skill to trade it without mistakes or deviating. It's not any ...

Need luck or skill for trading?

What I think Soul trader is getting at is that it is gambling, even when you use MM and have an edge that puts probabilities in your favour. This acceptance and realisation has cleared up a lot of emotional noise that wasn't helping me. It's the ...

Can you get rich quickly from forex trading?

That does look a bit clearer - didn't really factor in VBRN $100...

james16 Chart Thread

Interesting consolidation wedge forming on WTI crude around $90.00 BRN and 50% ret...

james16 Chart Thread

I'm not selling my physical - seriously doubt it will go to $0. People on Kitko were complaining yesterday that a lot of places where they buy physical were all out of stock Is anyone else short (paper)? I closed mine but watching PA for ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I have to disagree - charts could give a clearer picture than they are right now. Without inside information the best we can do is read the charts to ascertain big money orderflow. That can be quite tricky but in this case it's about as easy as it ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

This is the most sensible view I can see right now. I'm reliving painful memories of Sept 2011 trying to pick the bottom of that move. This time I'm short This bull is a hamburger for now.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I'm watching this level as it's around the weekly 38.2...

Trading EURUSD only

Is there a echo in here?

james16 Chart Thread