ok man
Billy & Jim TMA & Channel & Life Health & Wealth 1,075 replies
TEB : BB, Stoch & MACD- 15 & 60 min trading 21 replies
Successful Trading & Determining the Probability of a Trading System 10 replies
ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies
Trading Supply & Demand (ob & os) 17 replies
DislikedFxReX -- Sorry to water down your statement a little bit. Even 10 winners in a row don't prove much statistically. Could be just luck (with a relatively high probability, a 10 winner streak happens). Only after the average positive results of 40 trades, you may suspect that something else but randomness is at work. Only after 200 trades, you may deduct high statistical significance.Ignored
Disliked
Don't want to belittle your assumed success as a consistently profitable trader. However, many newbies get fooled by randomness and that's one reason why they, on the...Ignored
DislikedAttachment
Very Nice big FAT M setup on the EurUSD should be good for a few days drop, and possibly pullback shorts at the 50ema out of Asia into London.
Thoughts?
Blue = 50ema
White = 200ema
MACD Two-line = Make shift TDI
RSI = TDI Green Line (Lowest indicator)Ignored
DislikedAfter so many years what I finally realized if you want to be successfull you have to put in the leg work - start up your simulator and watch markets at all different times and then choose the time you plan to trade and look at only setups or structures at that time of day, don't practice Asian Session if you don't plan to take trades, don't practice US close if agian you don't plan to trade that either. Focus you efforts and make notes snap charts, create binders, update trade logs and put in the time to be successful and the money will...Ignored
DislikedI had the same bearish bias after that nice M pattern, but it kept going up into Thursday asian session. How would you have traded EURUSD long?Ignored
DislikedI know you didn't ask me but here's my 2 cents. I didn't trade this pair yesterday but the setup on the GBPUSD was nearly identical.
On the 15min chart, a lopsided W formed yesterday between 7:15am EST and 10:45 am. It was a good setup because it had the MA crosses to support it, and the timing was good. I don't usually pay attention to formations that don't have the MA crosses - too many false positives. Even then, I back up every position with a stop and reverse.
I use the 15min chart for setups, and use the higher timeframes for confirmation....Ignored
DislikedI had the same bearish bias after that nice M pattern, but it kept going up into Thursday asian session. How would you have traded EURUSD long?Ignored
DislikedThe secret, I have found, is taking an entry no further than 25 pips away from the top or bottom, then setting a stop and reverse target a few pips beyond the high and low, which I trigger only if a 15 minute candle closes above or below it. This keeps my drawdown manageable, prevents me from getting triggered on a spike, and puts me in the right direction to recover a 25-30 pip loss and still end up in the positive for the day.Ignored