1/31/06 8:54 PM EST USDJPY has a Magnet also now at 116.75 So we have 117.75 & 116.75 Thanks; JohnFX

JohnFX's Price Magnets

You know what really makes me laugh is some of these Brokers/MM's who have signal calling services telling you where to enter and where to place your stop. TALK ABOUT A CONFLICT OF INTEREST. Now would you want to place your stop at a price where the ...

Vegas: "the house cares"

Hey Scot; No, I don't know of a particular website that has such info. The only way I hear about stops is from IFR. I get IFR free because I have an account with FXCM (with no money in it). At least FXCM is good for something...LOL. I use IBFX for ...

Vegas: "the house cares"

Also, not for the new inexperienced trader. This would be considered a scalping tactic. I DON'T place physical stops when using this method. And although I'm still just using very small lot size it's still real money I'm trading with. I think I had ...

JohnFX's Price Magnets

They will hunt the stop(s) if it is worth their while. If the positon is big enough or if enough of the herd have their stops all placed in the same area, which so often happens. Hence the term "Bucket Shops". JohnFX

Vegas: "the house cares"

Dane; The reality is, (despite many don't believe it), is that MM's have software that trades against you. They are trying to scare you out of your position with as big a loss as possible and very often they do it to especially with newbe traders. ...

JohnFX's Price Magnets

I use InterbankFX. With them you can "hedge" a position. Meaning if I have a long position open then I can open a short postion and it wont close out the long position. So I would have a long and a short open at the same time in one account. So 2 ...

JohnFX's Price Magnets

117.36 target hit @ 14:28 EST 1/31/06 117.75 target still remains JohnFX

JohnFX's Price Magnets

Hello Talal; I really don't know much more than anyone else, what the dollar will do in response to Greenspan today. Best to just wait untill a bit after the interest rate decision and statement before trading. Thanks; JohnFX

JohnFX's Price Magnets

Also a magnet @ 117.36 JohnFX

JohnFX's Price Magnets

Cesco I like it because it has all the main features and the price is reasonable. I don't like using the charting from any of the brokers platforms, as my primary charting program. Thanks; JohnFX

JohnFX's Price Magnets

1/31/06 9:15 AM EST USDJPY at around 117.25 A price Magnet exists at: 117.75 JohnFX

JohnFX's Price Magnets

Both targets hit during London session 1/31/06 JohnFX

JohnFX's Price Magnets

Actually the charting software is SierraCharts and the feed is from Track Data Corp. I'm now primarily watching the 5 min. chart to determine the price magnets. JohnFX

JohnFX's Price Magnets

Her is another divergence play off the 2 min. chart. This trade took a while, but was good for 10-12 pips. The market is pathetic today. In case any of you are not sure what I mean by divergence. It's when price hits a lower peak but the MACD ...

JohnFX's Price Magnets

As you may know from previous posts I'm not a big fan of most indicators because they lag and tend to give a lot of false signals, but one that I still do have faith in, the MACD when used to see divergence. Here is a link to a 2 min. chart of ...

JohnFX's Price Magnets

Hi Cesco, thanks for the comments. Yeah during the NY morning and afternoon it appears I was using some of my plain old instinctive scalp trades. I used the lure tactic primarily during the London session. I hope I'm not confusing traders with this ...

JohnFX's Price Magnets

Ok here is a fresh new magnet target for usdjpy. 1/29/06 11:43 PM EST currently usdjpy is at 117.35 Headed for 117.21 then 117.01 JohnFX

JohnFX's Price Magnets

Thanks for the comments. Yes it was a lot of work, especailly since I had had I think about 3 hrs of sleep in a 24 hour period. Oh I'm definitly sticking to the Magnets. I'm thinking about maybe just doing the EURUSD, but we'll see. But I also still ...

JohnFX's Price Magnets

I'd like to point out a few of my beliefs regarding the FOREX market with regards particulary to short term traders (trades lasting a few minutes to a couple hours). What can make it hard doing this type of trading is that most of the time IMO, you ...

JohnFX's Price Magnets