Nod. High/low is good, but not technically S&R. S&R is a place where price has reacted twice. Use the daily if you trade intra-day, use the weekly and monthly if you trade on the daily, if you scalp on the m1 or m5 then use the m5, m15 and h1.

The best support and resistance levels

And uhm, what if that money is lost? Then what? If they can survive w/o it, and understand that risk, then ok. If it's going to put a strain on their finances tho to pay it all back if it's lost... don't do it. If you can't afford to lose, don't ...

Is it dangerous to trade with debt?

No no, it won't do anything to help ppl lose less money. Think about it, in order to trade you'd need more margin... which means it takes less loss to reach a point where you have to refund your account. If you don't refund your account to meet the ...

Leverage Limitation for Retail Forex

25:1 leverage is usable. The FINRA proposal is 1.5:1 leverage, that is not usable. Still, the frog/boiling pot analogy may apply. Nod. Is there really a need to limit leverage? I can see on stocks while it'd be needed, since it's possible to short a ...

Leverage Limitation for Retail Forex

Look up "resolution trust corp" ... Linky: url The situation was a little different tho. The thing is, currently these assets are mostly good... but with a fraction of assets that just can't be valued. With that problem, the entire package is ...

Bad bank?

Ugh. While I could live w/ a 25:1 cap, just proves that this is a systemic issue. Write comments to all proposals, we need to make sure our voice is heard if we plan to keep trading in the US.

Leverage Limitation for Retail Forex

None of which have exactly the best history.

Leverage Limitation for Retail Forex

Don't trade on fundamentals, they don't mean squat in a bear market. Never have, never will. Markets are correlated, a down US market means a down Chinese market.

Sweet, sweet Oil

Well, price changes to some degree daily, but the price changes don't reflect back to the stations every day. They have to take in account what they think gas will run, but they can't go too far with it since competition will keep the price down ...

Sweet, sweet Oil

If the truck charges you $2 per gallon, you're going to have to charge more than that to turn a profit. The truck's price is a function of the price of oil, the crack spread, and transportation costs (distance from a refinery, distance from oil ...

Sweet, sweet Oil

Well, FINRA brokers. NFA hasn't made it a rule yet, and might not. But yes, all it does is effectively deal out US-based brokers and give their edge to foreign brokers. Infact I said that exact thing in my comment to the proposal. Comments will be ...

Leverage Limitation for Retail Forex

Problem is a lot of them won't allow US citizens because of regulation. You'd pretty much have to setup a foreign corporation and set it up w/ a trade account, and hope they allow it.

Leverage Limitation for Retail Forex

Which is 1/10th or less of what I tend to use.

Leverage Limitation for Retail Forex

Read the wording on the proposal. "(1) The term forex means foreign currency futures and options and any other agreement, contract, or transaction in foreign currency that is: (A) offered or entered into on a leveraged basis, or financed by the ...

Leverage Limitation for Retail Forex

I don't use daily pin bars. With pin bars the next bar's outcome is 50/50, it's distance you're trading to capture. That is not true of all things. Want an easy one? Fade a tailed double on the intra-day level (H1 or so). Double top or bottom where ...

Admit it - your profits are based on luck

Bah. I did that Monday. Didn't "feel like" taking a trade that I should've and lost profit because of it. Bah. Double BAH. BAH BAH! Trading isn't luck, it's conditional probability. Bet when the dice is a 6, win 66% of the time. The variance and ...

Admit it - your profits are based on luck

This brings an interesting point. What Forex organizations are regulated thru FINRA? Are there many? Then there's a 2nd consideration... the new laws that were passed require US-based forex dealers to be registered w/ an organization like the NFA. ...

Leverage Limitation for Retail Forex

Right. All that does is encourage us to trade w/ non-FINRA organizations.

Leverage Limitation for Retail Forex

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Price Density Index

Nod. Have already developed this concept pretty far w/ the help of some market profile resources. There's another thread out there w/ that.

Price Density Index