I use these levels to take profit and start a new trade. When price moves through a psych level... pulls back and the retraces to the high point above that level it will often move to the next take profit point. (Psych level or PP)

Pivot Point, Psych Levles and Intra Day Trend Lines

Very true... — So... I'll take the cash required to get a MBA and apply it to my trading account. Thanks for the reply.

Money Managers - Looking for Currency Trading Positions

It looks that way — So possibly my next thread should be: How to raise capital or give your good friend Acumen a mil or so.

Money Managers - Looking for Currency Trading Positions

Don't know? — I'm not sure what it takes to move the currency market but I'm sure it's a big number. I'm not looking to trade a billion dollar fund - a few million would probably keep my clothed.

Money Managers - Looking for Currency Trading Positions

Very True — That's also a very good point.

Money Managers - Looking for Currency Trading Positions

Thanks for your reply — Appreciate the reply... thanks. m

Money Managers - Looking for Currency Trading Positions

Will do Kermut — Thanks again. m

Money Managers - Looking for Currency Trading Positions

Hmmm - Economists — dunningduke... I've been a computer nerd most of my career but I'm not an economist by any means and don't believe you need to be to be a solid trader. I believe the opposite. The less I'm tainted by expert opinion the ...

Money Managers - Looking for Currency Trading Positions

Kermut... Sorry Sir — Didn't mean to question your intentions. I apologize. Thank you for your post and your advice. Sincerely appreciated. Thanks again.

Money Managers - Looking for Currency Trading Positions

That would great... — I live in Smyrna. Looking forward to our meeting. I'll pm to set up a time that's convenient for both of us.

Pivot Point, Psych Levles and Intra Day Trend Lines

Kermut - Are you being serious? — Have an edge...hmmmm. I guess I do. I win. What else is there?

Money Managers - Looking for Currency Trading Positions

What's greater... — 8% of 10,000.00 8% of 1,000,000.00 That's why you trade OPM.

Money Managers - Looking for Currency Trading Positions

fsiltd - If that's true I'll trade my own capital — Hmmmm. If I couldn't trade my system then I'll raise my own capital or trade what I have now. Thanks for your input... much appreciated. m

Money Managers - Looking for Currency Trading Positions

fsiltd - — Why wouldn't a bank or hedge fund hire a trader that was consistently profitable. There aren't that many guys who can consistently beat the market month in and month out... and prove they can do it?

Money Managers - Looking for Currency Trading Positions

Not True — Hit Rate is very important in determining a systems worth. It's only one variable but It's important. This is off topic but if you haven't read Van Tharp's book perhaps you should. Secondly - I have a close friend that's a very ...

Money Managers - Looking for Currency Trading Positions

AKForex - ?? — So I hire an accountant and have my brokerage firm forward account statements? Then what? Actually (Plug coming) one could visit my site and watch my videos where I show my trades. Thanks.

Money Managers - Looking for Currency Trading Positions

fsiltd - I agree — Sorry. My post could have come off a little harsh. Hit Rate - the number times your system goes for profit. My hit rate hovers around 70%. So - 7 out of 10 trades is profitable.

Money Managers - Looking for Currency Trading Positions

Thanks - I'm in the US — I thought about all of the exams but I doubt they will increase my hit rate. However - I'm used to taking tests so I'll look into a Series 3. Thanks again.

Money Managers - Looking for Currency Trading Positions

If it breaks higher... — I don't do long term but if it does break to the upside... A fib projection for profit taking at 1.6000 wouldn't surprise me. (Based on a 161.8 projection) Time will tell.

EURUSD