Matt, Okay, I see where you're coming from. Glad to hear you are practicing sound MM in your own trading. As far as convincing your father and his friend, the best thing you can do is show them a weekly chart of AUDJPY that covers the 2007 to 2009 ...

Matt, Your idea has potential, but you need to be very careful. Carry currencies rise when the market sentiment is in risk-on mode. When sentiment shifts to risk off (i.e., flight to safety), carry trades begin to quickly unwind creating what could ...

Sounds very interesting, Romex. Please continue. Thanks!

I couldn't agree more. It's great to have you back, Graeme. Your brilliant posts are as instructive and insightful as ever and the work you've put in to help us learn your trading style is appreciated beyond what mere words could convey. Thank ...

forexjpn, all three of your scenarios are correct, but they're not all relevant. Relevance is determined by your trading plan. Here's what I mean... Even though this is a weekly chart, both the long-term weekly (and monthly) trends are "1. downward ...

No, DB, I'm not a full-time trader. Good thing, too, or I'd likely be homeless by now. I do have access to my trading platform while at work, but have found that while day trading I often get pulled away from my desk at the most inopportune ...

You're welcome. It's nice to know that others are still finding my post to be of value. As far as my trading goes, I'm holding my own. I've been quietly working on my trading method and making adjustments as I've seen fit. Success has been slow, but ...

Actually, I believe the orange line represents the high of the current H4 candle, which represents strong resistance. I'm sure Graeme will correct me if I'm wrong. Kevin

Hi HornedGod, Thanks for your insightful post. I do appreciate the feedback. You brought up several aspects of this trading approach that I've also been thinking about lately. For instance, it's not the entries that give me trouble, it's the exits, ...

Crazy Morning — Looks like the market is throwing a bit of a tantrum this morning. Most of my positions were running against me, so I closed all of my positions and am currently completely out of the market. Currently sitting on -273 pips ...

NZDUSD Open Trade — Okay gang, here's one more. This is a trade I took early last week that I'm still in (currently @ +4 pips). We'll have to wait and see if it works out or ends up a bust. Kevin

AUDCAD Update — Here's an update to the potential trade setup on AUDCAD that I posted over the weekend. Price moved up nicely overnight, so I jumped the gun and entered long this morning. Hopefully, it'll end up being a nice trade. Kevin

No problem, FX_California. Here's one I'm not in yet, but I hope to be in later tonight when my new daily candle opens at 12 AM EDT... Kevin UPDATE: The daily candle closed below the weekly pivot, so I'm still not in this trade yet. I set a buy stop ...

Nice, Vee. You appear to be on a roll. Keep it up! Kevin

USDCAD — I just bailed on USDCAD at -156. Saw no relief in sight and had to stop the bleeding. Kevin

I'd definitely consider it once I see a closed daily candle that convinces me that the downtrend is resuming, though by the time that happens it could already be back out of the hole. Kevin

Hi Alex, Thank you for your post and no criticism taken here. One of the reasons I posted that absolutely horrendous trade was to show everyone what I did wrong and what I should have done to make it a better trade. I missed the entry and took the ...

Hi willkohsg, You're welcome. I'm extremely humbled that anyone would be inspired by my posts. Thanks for the link. I've heard others in FF mention Jacko in the past, but I have not read any of his posts. His anti-hedging method looks like it could ...

Example #3 — Here's one more example. This is a USDCAD trade that I took a few days ago on 10/13. After a late "sloppy" entry, price retraced on Thursday and Friday, and I'm still in the trade at -83 pips, as the weekly and monthly are still ...

Example #2 — Here's a trade that looks to be setting up for a short entry... Kevin