Thanks Smikester. I did try divergences for a long time mostly on H4 and although I was accurate in getting the direction right, my timing was really crap. I was also using trend lines for entries. What really confused me though was when I got ...

Learning How to Spot the Correct Divergence... Beginner Inside

Also, have you considered what to do when you have divergences going in different directions when you look on different timeframes? That is very common. I just gave up!

Learning How to Spot the Correct Divergence... Beginner Inside

Muhammad, I don't want to pour water on your bonfire, but divergences are one of those things which look great historically. It's something I have tried for quite a while and finally given up on; it tells you that there may be a correction.... ...

Learning How to Spot the Correct Divergence... Beginner Inside

GBP will get good news on Tuesday and blast through your resistance

Learning How to Spot the Correct Divergence... Beginner Inside

I'm going to stick my neck out and disagree with you GBP is in a strong uptrend. This is what I think will happen...

Learning How to Spot the Correct Divergence... Beginner Inside

Personally I think it will be fairly quiet now until Tuesday next week when there are some announcements due. GBP had a big surge today, so usually a period of quiet follows.

How far down do you think the Pound is going? -Daily Chart

You're welcome. Good luck.

How far down do you think the Pound is going? -Daily Chart

You could have a look at Niall Fuller's http://www.learntotradethemarket.com and Chris Capre's site http://2ndskiesforex.com Great site's on PA trading. Also trading the news, you could have a look at this http://www.currencynewstrading.com

How far down do you think the Pound is going? -Daily Chart

Simply trade smaller lot sizes to maintain the same risk.

How far down do you think the Pound is going? -Daily Chart

Why not simply trade the higher TF's then; daily, weekly, monthly even? I think trying to pick tops and bottoms is a recipe for disaster.

How far down do you think the Pound is going? -Daily Chart

Why are you making it difficult for yourself by trying to find trend reversals? A major trend isn't going to suddenly do a u-turn; there will likely to be a period where the bulls and bears are battling it out, resulting in a choppy market, before a ...

How far down do you think the Pound is going? -Daily Chart

It can do, but more likely in a strong trend, it just means a period of consolidation. Divergences are only reliable when in the direction of the trend. Even then a divergence can exist for a long time before any correction.

How far down do you think the Pound is going? -Daily Chart

By the way, divergences mean nothing going against the trend.

How far down do you think the Pound is going? -Daily Chart

GBP isn't going down. It's going up. Look on all the daily charts - JPY, USD, CHF, EUR, CAD. Strong uptrend. GBP news also is good: economy, unemployment... not getting involved with Syria...!

How far down do you think the Pound is going? -Daily Chart

What would be the SL for a 10 pip target? For a 1:1 R:R which many consider the minimum, that's a 10 pip SL. Highly dangerous.

10 pips a day can make you rich quickly

Stop trying to earn money. Read as much as you can and learn, learn, learn. Then practice, practice, practice on demo obviously. No money at stake. Don't try to make money. Try not to lose money. One step at a time. Slowly, slowly catchee monkey. ...

Here's the answer to "Can I make a living from forex"

I did say "rely" on indicators . Clearly your friend doesn't. You will probably find that those who are successful with indicators use a huge amount of discretion too, so if you took away their indicators, they would probably be ok. For a newbie ...

Here's the answer to "Can I make a living from forex"

I'll happily be proven wrong. If indicators work, then that implies trading is systematic, then an EA would work (long term). If EA's work, then why is it that banks spend millions and millions hiring traders and not use EA's? I believe that trading ...

Here's the answer to "Can I make a living from forex"

If you rely on indicators, chances are you will fail. No indicators, only 1 MA for trend

Here's the answer to "Can I make a living from forex"