Be VERY careful with statements like that Amylase, who knows if it's ridiculous or not? who knows how much the CAD's worth? Market is the only one to dictate that, and if price is going down, then there's only one direction to trade. That's why I ...

USDCAD trend reversal?

You missunderstood my post. I was trying to say that newcomers should first try to focus on scoring a minimum of 50% win/loss (which many do not achieve) and THEN focus of polishing their exit techniques out. First things first, and there's little ...

Poll: Is successful trading more dependent on skill than luck?

I keep reading on these forums that exits are more important that entries. I dont agree. I would agree if, after scoring a 60% or better win/loss ratio, you're still not making money. In such case then yes, the problem is within the exits or money ...

Poll: Is successful trading more dependent on skill than luck?

Which is why I began my post with "I am personally not fond of...". Every trader should use the tools that work best for him.

The 100 and 200 Simple Moving Average

I personally like to read price action on the shorter time frames at decision-taking areas, such as areas of key support/resistance like the 0.7500 historical high we hit not long ago: is price breaking through in momentum? are we instead seeing ...

NZDUSD Discussion

You mean a Buy Limit? I am personally not fond of Limit orders because you are not able to read price action at that level. Basically, Limit orders are wishful thinking, hoping that a particular level of support/resistance will hold the bounce. I ...

The 100 and 200 Simple Moving Average

I think he means that round numbers work as support/resistance levels. If that's the case, I agree with him. If not, I am sorry I didnt understand your post.

CABLE Centurion

Pull out a weekly chart. We are going through a healthy uptrend but we have just banged on a historical high, retracing a bit down off that level. As far as I am concerned, it's best to sit it out for the time being until that 0.75 level is taken ...

NZDUSD Discussion

The problem doesnt lay within the system. It's the trader's ability to read what is actually going on in the chart. Trying to blindly trade a system will lead to disaster. A system is there just to provide the workframe, but the actual trading ...

90% of traders fail? - just a thought.

In my opinion, all those engineering mambo jumbo strategies are crap. As far as I am concerned, if upon entering a trade the market proves me wrong the best thing I could do is to exit ASAP, account the small loss, re-asses the situation, wait for ...

Possible Trading Strategy?

You mean emotional conditions 60-70%, skills 20% and luck 10-20%, right?

Poll: Is successful trading more dependent on skill than luck?

I dont agree with that line of thought. Trading, in my opinion, is about taking each trade independently and uniquely. Every trade is a fresh start and applicable to the same rules as the previous one. I am not saying this is the case of course, but ...

Daily GBP/JPY analysis

Very daring indeed...

Daily GBP/JPY analysis

Yup, I closed my account with MIG a while back precisely for that reason. I lost some good pips due to requotes.

MIG making reqoutes again

Unless you guys trade off the weekly/monthly chart, dont pay too much attention to the Iraq war, deficit and whatnot guys. Considering such a long term macro-economic data when trading off smaller time frames might cloud what you actually see on the ...

EURUSD

How do you know price will continue going up in the next bar? just because you have found a temporary low in the intraday action? it doesnt seem quite solid in my opinion.

S & R Cracked

So can be applied to Fibonacci levels or Round Numbers or Trendlines. You got your approach wrong in my opinion. It's not about whether the 100 SMA or the 50% Fib level acting or not as support/resistance. It's about what is price doing at that ...

The 100 and 200 Simple Moving Average

Aren't those "support" levels painted after the fact? meaning showing the lows for the day?

S & R Cracked

Be cautious when trying to play a market oracle, my friend. No one knows what's going to happen. Trading is not about predicting the future, but rather reacting to the present. At least in my opinion

EURUSD