So are you saying the "final wave-c of a larger wave-4" should be a move up? Thank you for your analysis!

Low Risk, High Reward Trading Experiment

Actually, the GBP Consumer Confidence Index came in lower than expected 45 minutes ago.

Elliot Wave Trading

This is worse than watching grass grow.

Cable Update (GBPUSD)

I have not heard of ANY brokers who guarantee ANYTHING on non-farm payroll days, but I have never (knock on wood) had a problem with my pending orders getting filled with FX Solutions. The most slippage I have ever noticed on entry orders was 2 ...

Broker With Guaranteed order execution?

Volatility allows you to make (or lose) a lot of money. You need to have a great broker, though. I tried to enter a trade for 10 solid minutes on NFP Friday with my previous broker, but every time I hit the "execute" button I got a "price has moved; ...

Cable Update (GBPUSD)

I can tell. I get off by playing devil's advocate.

Cable Update (GBPUSD)

Not everybody who uses 5-minute charts are scalpers. I closed a couple of lots for 200+ pips each. I was not scared either. And it's not as though I don't use 1-hour and daily charts as well, but the 5-minute charts allow me to pinpoint my entries ...

Cable Update (GBPUSD)

dukeofdents, I have begun and deleted several responses to several of your posts, but I am not going to delete this one. Would you please consider not knocking other traders' trading styles? It sounds as though you have been very unsuccessful ...

Cable Update (GBPUSD)

guys AND gals — Hi, fxkenny. Yes, some of us are GALS. Thank you for taking the time to ask. Happy trading!

Cable Update (GBPUSD)

Well, actually, NY opens at 8:00 ET. Sorry.

Cable Update (GBPUSD)

Have more faith in what YOU know, Mama, and less faith in what others write. NY opens at 8:30 ET.

Cable Update (GBPUSD)

Thank you for confirming what I said: people had already concluded the price would drop, so they already had short positions open. And apparently a lot of folks did not have stop losses set, either, for just in case they were wrong. And I did short ...

Cable Update (GBPUSD)

My system caught the move. I think a problem a lot of traders may have had was "being sure" the price was going to drop today. The vast majority of the posts from yesterday and today were predicting a "down day." Also, there may not have been GBP ...

Cable Update (GBPUSD)

That's hilarious. Thanks for sharing this blast from the past.

Cable Update (GBPUSD)

Thank you so much for this comment! I just had a really good outloud laugh to break up the total boredom from the last few hours. The rest of my household is wondering what is so funny about the forex!

Cable Update (GBPUSD)

develop your own strategy — I think this is why it is so important for every trader to develop his/her own strategy and follow the signals provided by that strategy--AND use stops! It is impossible to be "right" 100% of the time, but if you ...

Cable Update (GBPUSD)

That's crazy — Well, Monarch, I can't help but think that this is a crazy decision you are making. There are SO many people who have thanked you (and some, like me, who haven't actually posted a thank you, but certainly appreciate your ...

Cable Update (GBPUSD)

retracements — I believe that fixme1too (and monarch) look at ALL time frames--from 5-minute charts to monthly charts. As monarch mentioned, retracements occur on ALL time frames, so don't get locked in to just viewing one chart.

Cable Update (GBPUSD)

FXCM and FX Solutions are both saying the majors are being affected by a large sell order at 116.50 on the USD/JPY. They are also saying that when the large sell order hit the tape, intraday longs "threw in the towel" and closed their positions, ...

what the heck is going on with this spike?

Wouldn't the price only have to move 7 pips to hit the stop loss in the first example? When you open the position, you would already be -3, so to hit -10 only requires a move of 7 pips, right? So, with a 20-pip TP and a 10-pip SL, the price would ...

A Loser System Wanted