Lazy market today, no trades. The tricky part of trading is to learn when to stay on the sidelines.

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Below 1% risk per trade. Usually 0.5%

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It depends on the set up, but I prefer less risk.

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2B is a trading strategy. If a new hi/lo is made and the price goes back below/above the previous one a position is open in the opposite direction of the prior price move. The stop is placed above/below the new hi/lo.

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For long position I move the stop below swing lows at 1M charts when the swing high is broken. The opposite if true for shot positions.

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I always use 1M charts to fine tune my entry. The EMA crossover gives me pretty good indication that a new directional move may be starting.

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I don't trade during the US session and I've missed this trading opportunity.

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Absolutely. I use the quotes as a tool for fine tunning of the entry. In today's markets you can't rely on only one indicator, set up or strategy. The rules of the game are changing constantly.

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Hi Islander, Very useful custom indicator.

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May be I should explain why I think that the quote reading is so important. Every other analysis tool (charts, technical indicators, etc.) is based on the quotes. If you learn to feel their moves you will have competitive advantage before the other ...

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Hi William, You tried to explain what I mean by watching the price and it is understandable for me. I also find it difficult to explain by words what I do. These quote jumps up and down are telling me more than anything else. For example if the ...

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video

What kind of music you hear while you trade?

That's the tricky part. I wait for 20 pips straight movement for the EUR/USD and 25-30 pips for GBP/USD. The best set up is when the last 1 min candle is at least 10 pips. I also watch the MACD to measure the price swings. The quotes help me to fine ...

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I watch the quotes and 1 minute chart. You can see patterns in the quotes also. When the price jumps 20+ pips towards resistance and the quotes of all three brokers just stop I can sell.

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Hi msmarple, Today the market is slow so I have to time to answer questions. Actually every day I have a lot of time, because after 12 years I know exactly when i should watch the market and this saves time. Sometimes even it is boring to wait for ...

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I've published three books and I'm still teaching traders so I'm used to answer the same question a few times. This is normal and good for all the readers. Trading has simple rules but it is difficult to understand most of the them, so the ...

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Today at 12:30 GMT will be released the US employment report. Probably the market will be quiet and I don't expect to a lot of treading opportunities. I wil watch for STE in the direction of the initial reaction after the numbers are released. One ...

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I don't watch the L2. I watch the quotes of my broker and 2 others.

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I open positions with market orders because I watch the quotes for fine tunning the entry.

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You can find info about barriers, options expirations and levels with big orders from most of the agencies providing market news. I follow MNI, DJ Neswires, 4CAST. I also watch CNBC. My morning position could make 100 pips profit if it was not ...

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