Who else took the London open breakout trade on GBPJPY?

Daily GBP/JPY analysis

This week USDCAD hasnt showed a clear picture in my opinion (meaning as per my system). It is true that USDCAD has been easy money in the last couple of months, but I reckon it's important when to step out of the frenzy until a clearer picture is to ...

USDCAD trend reversal?

I agree with StockJay - if you happen to know how to trade news, fading the spike or whatever technique you use, then it's a valid option. If not, I dont see the point.

Trade the News--are they useful?

No, living off forex trading is not a myth. What it is INDEED a myth is newcomers' believes that they will be able to turn a 5K account into 100k in their first year.

Is trading FX for living a myth?

There are plenty of information about breakouts on the internet. If you want to have a look at my trading blog where I post my breakout trades in detail, you're very welcome.

Everyday I make around 80 pips

LOL

USDCAD trend reversal?

I agree. Bloomberg, CNBC and the rest are just noise that could potentially cloud your own thinking. Plus they dont really provide any trading-valuable information in my opinion.

Is bloomberg channel good enough?

GBPJPY extremely flat-lined today. I was looking for a London Open Breakout type of trade this morning but it didnt quite shape up.

Daily GBP/JPY analysis

Alpari's data is fairly reliable in anything above the 5mins chart. I wouldnt trust much the 1min data though.

reliability of historical data in mt4

If I get no confirmation and the train simply takes off right away, I wave goodbye and let it chug away without me. There's always more breakouts the next day. Let me explain with a graphic example. It's my last breakout trade, taken two days ago on ...

Everyday I make around 80 pips

Market's been awfully quiet as of lately. Every currency's ATR keeps lowering and lowering week after week.

How to spot a waste of time trading day...

Hike confirmed. Hardly any market reaction so far.

Swiss rate hike on June 14th

I dont know whether Forex is immoral or not, but digging the fat chicks sure is!

Is trading Forex immoral??

My God... talk about trading without a Trade Plan...

Daily GBP/JPY analysis

The point is to not say ANYTHING at all. Prediction is wrong when it comes to trading. Think in terms of reaction, not prediction.

Usd/jpy X-plosion

Not really. Trader B will simply trade smaller lot size than trader A. Both should risk the same equity % per trade and thus they both play in equal fields money management-wise.

Leverage!!

Concept of former support turned into resistance (or viceversa). After the breakout, wait for the pullback retesting breakout levels and if it holds enter upon making news highs (or lows in a breakout to the downside). Only in the direction of the ...

Everyday I make around 80 pips

I haven't read that many trading books to be honest. In my experience, the single most deciding event on my trading career was when I decided to study (and finally learned) to spot healthy trends. I always tried to trade the trend, but I didnt know ...

Knowledge is Power

Hello Vrama. You basically bracket ranges and trade the breakouts as they fire off. That's always very risky because you're greatly exposed to fakeouts (false breakouts). You'd do much better to wait for the confirmation of that breakout and ONLY ...

Everyday I make around 80 pips

Problem with candlesticks from what I have seen is that people trade them by themselves without considering the rest of the equation. They simply see a daily pin bearish pin bar and they are like "wwoohooo pin bar let's go short, let's fade the ...

An interesting discussion about Candlesticks