You have not converted the base currency. Work through it like so: You pay out 86 Yen to acquire 1CHF. With 1CHF you are able to buy 0.866 [1/1.550] USD With the 0.866 USD you can purchase 86 Yen. The simplest explanation is almost always the right ...

How can this be?

I don't think there is inherently wrong with averaging down if it is part of your plan to scale into a position, so if S/R kicks in early you get some of the move, but there is definitely something wrong if you are adding to losers to bring your ...

No Brainer Trades

I'm certain someone else has posted this level as it is one of the 'sore thumb' ones IMO, and we're approaching it. Serious USD strength today but approaching the end of the day here in Europe and I wonder if we won't see at least some reaction from ...

No Brainer Trades

Granted, but how many traders blow their accounts by trading with the trend and not using a stop loss, because 'the trend is your friend'? Contrarian trades work when public opinion is completely one-sided, when your Gran is calling you up and ...

The trend is your friend Myth?

"I've been buying American stocks. This is my personal account I'm talking about, in which I previously owned nothing but United States government bonds." --Warren Buffett, October 16, 2008, New York Times

The trend is your friend Myth?

That's fair enough, there is no substitute for live trading - just so emotions aren't so prevalent that they are distorting your ability to learn. Blowing account after account chasing systems that are untested is the sort of thing I have little ...

No Brainer Trades

Pick a logical method (or several), and then test it (them). Write a trade plan to follow. Take screenshots and record all your trades in a journal. You won't learn much trading live without writing stuff down, too many emotions at play that will ...

No Brainer Trades

Have many people have done any of Tim Morge's courses? I have considered it, he is the most knowledgeable living source on median lines after all. I just wonder how much of what he teaches is not already available online for those who have the ...

Andrews Pitchfork (Median Line)

Larry Williams actually got his account above $2m during those trading championships, lost more than half and then built it back up to $1.4m, which tells a story about how wild it can get using that sort of money management. Larry Williams is a ...

Trading Support, resistance and trendlines : a beginner's question

Greg Fisher's doctoral thesis is good, as is Patrick Mikula's 'The 5 Best Trendline Techniques of Alan Andrews'. I have not had the pleasure of reading Tim Morge's books, but I have found some of his presentations at various websites and found them ...

Andrews Pitchfork (Median Line)

I guess it depends on how important it is to you to to preserve your account - there is no reward without risk, that is the nature of enterprise. Maybe using 0.1% per pip you are not overly jeopardizing your account through the typical day to day ...

Trading Support, resistance and trendlines : a beginner's question

1 pip = 0.5% means you're only looking after the brokers money temporarily. An unforeseen spike, a run of poor trades, a mistake, a poor fill...... A 200 pip loss should never hit your account hard, let alone kill you. You might think the unexpected ...

Trading Support, resistance and trendlines : a beginner's question

It worked fine for me, and may I say; bravo BRV, that should clear up any confusion once and for all. You may need to update you flash player, or perhaps you are using some sort of flash-blocker (in which case, enable flash for blogspot.com). ...

No Brainer Trades

The trend is your friend? More of an 'acquaintance' I'd say. The sort of friend who'd sleep with your sister. Trends don't go on forever. I wonder how many of the carry traders gave back all their profits from the last few years on the false ...

The trend is your friend Myth?

I think it is more to do with the amount of time (or lack of) spent in the market rather than a set pip value. It certainly appears that is how brokers see it too, and this is what distinguishes every other type of trading. If you banked 200 pips in ...

Is this considered Scraping?

I traded this way for some time, buying the breaks of the 'spikey' areas on the charts. You only know it has posted a low when the previous high has been exceeded, it could just be running back up to make a 1-2-3 (testing the area of consolidation ...

No Brainer Trades

"Good judgment comes from experience. Experience comes from bad judgment." Jim Horning So, it follows that you should make the most of these experiences. Some days you win, some days you learn. I have found the most efficient way to develop as a ...

No Brainer Trades

BRV is the expert mate, I'm just rambling on my understanding of it (which could well be wrong). His explanations are the only ones that you should really take any notice of. The bucket formations are something that I have only looked at recently ...

No Brainer Trades

I think you might be right Jason, Fridays are generally the most awkward trading day of the week for me personally and that seems to jive with other traders experience too. I suppose it comes down to trading style though. I think the reason Fridays ...

No Brainer Trades

Buckets as I see them:

No Brainer Trades