By waiting for 3 bars you might be waiting a little longer than needed... but such a small TP probably works out either way. Was your SL fixed at 25 pips each trade? How did the <1.0 R/R work out for you? Have you tried cutting down the required ...

Bar Pivot System

Well the speculation goes like this... before the announcement the rate was priced in at 100pts, it came out 75pts which means that the USD is somewhat stronger than priced... thus we have an increasing strength dollar with a rather (temporarily ...

Please help regarding FOMC rate cut decision

It certainly can head back long, the daily just bounced off the 150 EMA which has historically acted as supp/res for quite a while. But given the amount of shock and the big highs back in 1991 and 1992... it wouldn't surprise me to see some ...

Cable Update (GBPUSD)

If you add to the position during the right times I suspect this system would be positive over a large enough time frame, provided you don't overtrade. Reminds me of the "turtle" system a bit in that there are large periods of drawdown with big ...

Balls Of Steel Method

All of the major pound moves from monday are retracing. We're at about the 50% level now. I don't anticipate a major trend reversal, but I do anticipate another large downside movement probably sometime later this week, maybe as early as tonight or ...

GBPCHF

Sounds like an MT4 broker would be a good start then. Would give you a chance to backtest your idea before committing any money to it. A lot of ideas that work on paper don't work so well in the market... so I certainly wouldn't commit any cash to ...

What am I looking to do? What do I use?

It's been done and it isn't statistically viable to base trading off double bars alone. It's not the price bars that matter as much as the reaction to a support/resistance line... if you see a double bar form at a support line after a retrace in ...

Price action EA

As described it's an increasing lot size stop and reverse system. SaR systems are all about getting the right TP and SL and not going beyond your risk threshold for a fixed time frame. I would be very concerned about increasing lot size to ...

Balls Of Steel Method

Reporting losses can offset gains, so yea... report them. Last I checked forex is typically treated as either an income or a capital gains/losses item. There was a good thread about all of that on here, search for it.

TurboTax and Spot Forex

They are good, but they don't offer the kind of automation that MT4 brings... which comes in handy, a lot.

Interbank FX Provides Access to Multiple Bank Liquidity Partners

No stoploss or a martingale approach would be deadly on the euro and other pairs that have had strong trends... unless you plan to hold the pair 'til the dollar comes back into strength.

Balls Of Steel Method

Use a broader SL and enter w/ a risk appropriate trade. I use the low/high of the previous bar with much better results. I also used ATR to filter out small bars (average daily ATR / 3) and had very good results with long trends. But as has been ...

Balls Of Steel Method

Similar to "3 bar swing high/low" trading where you wait for a 3 bar swing to form and trade on it. Works very well in a non-whippy market. The exit condition seems very important, I've never figured out a perfect stop loss... but I had very good ...

Balls Of Steel Method

Well, good example would be the NFP (non-farm payroll) that came out this month. There are other indicators that tend to point to what will happen, so the market started acting on those indicators. When the actual release came out the market made a ...

Please help regarding FOMC rate cut decision

News gets pre-priced. Old saying... buy the rumor, sell the fact. Just like the futures market we're trading expectations more than fact. What might happen next? Nobody can reliably tell you that, because nobody really knows where price expects the ...

Please help regarding FOMC rate cut decision

I think a lot of it is your psychology. Some people are fine with a big win and lots of little losses, some are fine with a big loss and lots of little wins. Some prefer a middle ground, to be sure. Some people prefer to take only the best trades, ...

Win/loss ratio question

Find a way to quantify when and how you add to a position. Ie: 5% ATR over resistance, or 30 pips profit, or 50% fib level, etc. That way you only add to a position when you're in profit and at a specific quantifiable level. Prevents you from adding ...

Giving It All Back.

Well, it's not just the number of trades but also the duration. Market moods change over time, so if you have a bajillion trades within a small time frame that does nothing to prove the value of a system over the larger time frame. IMO 50 trades and ...

How long do you forward test a discretionary system?

Looks like consolidation to me... perhaps a broadening formation, but I can't really tell. Whether it'll break bearish or bullish... no clue, but I'll be sure to ride it either way once it makes up it's mind.

GBPCHF

Altho some pairs posted HUGE spreads around the big holidays. So there are some days that are worse than others.

bad months for forex