Good job! You won't go broke taking a profit!

Predicting Short-Term Direction and S/R Using Indicators

Just out of curiosity, how did you pick 163.10 as your target?

Predicting Short-Term Direction and S/R Using Indicators

Closed for just over 10 pips. I don't use stops (except emergency 50-100) but I ALWAYS put in a take-profit order as soon as I enter a trade. I set it for slightly over 10 pips (superstitious about making it exactly 10.0000 pips) and if I'm at the ...

Predicting Short-Term Direction and S/R Using Indicators

Wanna see something that makes you go ? Check out MSTR Mar15 PUT $500 out of the money!

Let's Trade Options

Here is a trade off the ERU/JPY 4hr chart. Should be good for 10+ pips.

Predicting Short-Term Direction and S/R Using Indicators

It could reverse, but I look for the high confidence, safe trades. I guess this is my version of R:R, rather than a number. If the trade doesn't look very good and very safe and I am very confident it will do what is expected, I just don't enter a ...

Predicting Short-Term Direction and S/R Using Indicators

It does look like a classic setup, the only issue is that there is only one down candle after the first high. Normally for a good setup, there are two down candles before reaching the second high. I would be careful with this one, because often, ...

Predicting Short-Term Direction and S/R Using Indicators

You and me both, brother!

Let's Trade Options

Out of the following: AKAM Mar15 110 CALL at $2.60 up from $1.62 AKAM MAR15 115 CALL at $0.52 avg up from $0.36 Probably have more upside, but the volume and chart just isn't there any more.

Let's Trade Options

USD/CHF 30m chart RSI Divergence did not materialize.

Predicting Short-Term Direction and S/R Using Indicators

A possible RSI Divergence developing on the Daily EUR/AUD chart today or tomorrow. Also a possible one developing on the 30m USD/CHF (No chart attached for this one)

Predicting Short-Term Direction and S/R Using Indicators

This is the difference the BB makes on a chart to me: While the chart you posted has the same info, to me (probably because I have traded this chart setup for so long) it just pops right off the chart with the BB. Very easy for me to see, not only ...

Predicting Short-Term Direction and S/R Using Indicators

Honestly, if you are doing well trading the other instruments, there is really no value added to learn to trade an instrument that currently causes you to lose money. Your time (and profit) may be better served by focusing on the trading you are ...

Forex - A negative sum game for losers

I don't look at BB as a system in and of itself, but only as part of a bigger picture. I trade exclusively off the BB ONLY if the entire body of a candle is outside the BB (and it is not the result of a big move after news). Otherwise, the info from ...

Predicting Short-Term Direction and S/R Using Indicators

I use the standard 20 period, 2 standard deviations set to the close (although for some reason it defaulted to 15 and 2 for a while, but I think that was fixed). I keep that and all my other indicators the same for all time frames.

Predicting Short-Term Direction and S/R Using Indicators

Goal reached, just over 10 pips.

EUR/JPY

A quick trade off the EUR/JPY 30min chart. Should be good for a few pips.

EUR/JPY

Off the phone and The Walking Dead is a go...again....hopefully. Closed the trade for just over 5 pips. I will watch it in the next 2-3 candles to see if an RSI Divergence forms. It still looks like another good trade setup with the entire body of ...

Predicting Short-Term Direction and S/R Using Indicators

Wife's on the phone so that's probably it for TV tonight....so I came back and found a trade off the EUR/JPY 30min chart. If I would have know movie night would be short, I would have stayed with the last trade and milked out some more pips, but I ...

Predicting Short-Term Direction and S/R Using Indicators

Done for today, I believe. Its time for dinner and a few episodes of The Walking Dead. I'll check again before bed, but probably won't trade any more until tomorrow. Let me know what you guys look at for setups, entry/exit points, any trading rules ...

Predicting Short-Term Direction and S/R Using Indicators