Readers here interested to discuss can articulate your thoughts here too. I think the best way to learn something is to discuss and teach others about it so feel free to share you views.

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Once again if you followed that you are in 10 pips profit and the rest boils down to trade management.

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One last thing - with this development, that entry point is now a good place to exit BE, reverse and place a short be patient. Cheers. if you are scared, don't trade. The market does not reward scared traders. Caveat: When I look at a chart, I ...

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A reasonable target in my view will be 1.62. Cheers. (note, DOES NOT mean price will get there. No one can predict price. period. If anyone tells you they know price is going to X, they are bluffing). got to go. enough screen staring for the day. ...

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Well to those that took this, you are now up 10 pips. The rest is simply trade management. Good luck (and sorry to all those who got stopped out of your longs because you placed your stop there. It was inevitable.)

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my general advice regarding trades that go into profit is: don't put them to break-even too early, good entries often get tested more than once before taking off. Whereas for trades that go sour immediately, you should be thinking of getting out as ...

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Still think this long set-up is really good taking it "in my mind" to see how it plays out (not actually trading it) it just touched the entry.

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My day is done. Cheers.

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There is only one thing that differentiates trading from gambling in a casino, and that is traders can find an edge. And most of the time, trading with the trend is an edge because we can observe (although I am not sure how we can PROVE) that prices ...

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What is trend? I think trend is just the dominant order flow. At each time frame, you can observe a historical move that dominates the other moves - that move is the current trend of that time frame or that particular snapshot of the order flow in ...

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Set up that I am currently in:

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The key to profitability is survivability and consistency.

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For those interested, there's a long set-up on GBP/USD - but if price does get there I wouldn't be trading it because I have hit my 20 pips

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Currently in a risk-free short trade on the GBP/USD (after 4 break-even trades)... maybe this will bring me my 20 pips for the day?

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Very very true. Imagine a professional basketball player entering a game without warming up - it's never gonna happen; traders on the other hand do that all the time. Trade the first thing they wake up or sit down in front of their desk. That's not ...

5 Reasons Why Traders Lose

How's this: 1) They use stop-losses and place them indiscreetly and suffer a slow and painful account and psychological death. 2) They don't use stop-losses and equates that with no exit. When price moves against them, they hope that it'll come ...

5 Reasons Why Traders Lose

Being an active winner means protecting your profits with trailing stop/ taking profits whenever necessary, this is especially easy with an EA to help with order management. you will be surprised how these small profits add up and how many chances ...

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