Hey JJ — Confluence is when one or more 'trade triggers' come into play. Let's say... like today on the e/u a psych level was near a pivot level. Today... I had S1 at .4100. (Confluence) Two things were aligned. S1 and the psych level. That ...

Trading for a Living - Cliff Notes

Hello — Yes... daily pivots only but I really should have the weekly pivots up on another screen. Not sure about time frames but I am sure most bank traders have a 15 min chart up somewhere with the dailies applied. Yes... the liquidity of ...

Trading for a Living - Cliff Notes

LOL — anallllasst <-- This kills me.

EURUSD

I love this... — How many stops were blown today? How many dumb azz analysts were long this pair? Breakout is all you heard on just about every site. There looks to be a breakout all right... not in the direction they were thinking. Days like ...

EURUSD

Thanks for you kind words... — Not sure about the set up. I really like trading psychs when there's some confluence. I'd much rather trade off a pivot level. Mike

Trading for a Living - Cliff Notes

Translation... — The first place I'd dream about buying is .4100. We should bounce there. No... I would not buy now but I don't trade your money. Stupid questions sometimes deserve obtuse responses. m

EURUSD

Well... — The major trend is up. Most analysts believe the dollar is dying a slow death and this is just profit taking. So... yes...most would say we are in a bull market and the EURO will continue north for some time. We have some huge sells ...

EURUSD

Trades Setups: Scalping Only — The chart does the explaining but... .4220 is near important psych level. The 50 fib is near this area also. Sell around .4220.

EURUSD

Great Post — he's telling you like it is. bearish with a lot of caution is a great description of this shit. m

EURUSD

Well... — I have several buddies... hedge fund types and I asked for their input. They threw around a lot of the names that most have already mentioned. However... almost everyone agreed the best trader... day trader... swing trader type is ...

Who are the top best Forex traders in world??

Ahhh.... — A scalper. Hello FXL. m

EURUSD

Psych Scalps — Scalping around psych numbers can work well. Just took a few around the .4300 level. I felt we would pull back to R1 before any move north again. It worked this time. m

EURUSD

Hey Jenna... — gdppip is right. I never look at how much the broker is making... just part of the game. I trade Oanda because they are the lowest spreads I could find and I can trade off the chart fairly quickly with nice size lots.

Trading for a Living - Cliff Notes

Another must read... — url This should be NUMBER 1. Fatal Flaw No. 5 - Lack of Money Management The final fatal flaw to overcome as a trader is a Lack of Money Management, and this topic deserves more than just a few paragraphs, because ...

EURUSD

I like this guy... good write up. — url This is the best line of the write up. "Success in trading is contingent not only on your analysis but on your ability to properly manage your position. That is why the game is hard. To be a winning ...

EURUSD

Well... — 100,000 X .01 = 1000 1000/stop loss = ? Let's say stop is 50 PIPS. 1000/50 = 20/PIP Each pip would be worth $20. I wouldn't trade a dime until you are profitable for 3 months with a demo account.

Veteran forex traders, how much leverage do you use to trade?

Who knows... — But your listening to a guy called Jim Willie. m

EURUSD

That's correct... — Actually around 30% of gross profits and a high water mark after 100%... then I take 1/2. m

EURUSD

LOL — Damn it new traders. Look up Occam's Razor. I promise... simple is better. Yes... there is one way to make it easier... let me trade your capital. m

EURUSD

Sure. — It's very effective. It's not mine... it's on my site and I use it but I pilfered it from somewhere. It's very accurate. It's attached.

EURUSD