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- George C replied Jan 5, 2011
I've observed the same thing - when trend direction changes as abruptly as it did today, the system gets decimated. I agree - what it calls for is a bit of discretion - if in a UT you see the TMA take a plunge towards the weekly, sit back and wait ...
- George C replied Jan 4, 2011
Seems like a great and straightforward system! Looking forward to putting it to a test. Attached is my short entry on USDJPY an hour ago - SL is set at 82.360. Thoughts? EDIT: I can already see what's wrong with the entry - I should've entered on ...
- George C replied Dec 29, 2010
Kiscan, Extra distance between orders may be needed solely if we can't develop an EA - this would give the trader enough time to punch in new orders after each one is triggered, and to adjust SLs accordingly. It's purely a function of how quickly a ...
- George C replied Dec 29, 2010
First impression - on a fast-moving pair, this system needs either: a) An EA b) Super-human reflexes c) Greater distance between orders At 10-pip distances, I was quickly overwhelmed on USD/JPY.
- George C replied Dec 29, 2010
Testing this now on USD/JPY - with the pair reaching historic lows, it's hard to predict whether the downtrend will push through the 83.000 level or bounce off the support and head upwards instead. In other words, an excellent environment to test ...
- George C replied May 2, 2010
Yep, but I think the fundamentals will help it there, unless the bailout deal falls through. EDIT: Just checked CNBC - the deal's done. Over the past few days, the market reacted strongly to news of a Greek bailout; now that it's actually here, the ...
- George C replied May 2, 2010
What are your thoughts on EUR/NZD Daily? Friday formed a clear pin bar (on GFT UK Dealbook 360) - see attached. Fundamental news suggest a recovery of EUR against major currencies following indications that an agreement on Greece is within reach. ...
- George C replied Apr 20, 2010
Unfortunately, Oanda Mobile trading makes it so darn difficult Smike, I risk a fixed 3% of account regardless of the stop loss (e.g., I'd trade with a smaller position size if I have to allow for a bigger drawdown). It doesn't work out to ...
- George C replied Apr 20, 2010
That's a pretty good one The thinking behind my approach is to eliminate any chance of double-guessing yourself. Or, in other words, I do as much homework as I can beforehand and calculate the optimal TP, SL and position size with respect to my ...
- George C replied Apr 20, 2010
I am long on EUR/USD - the shape of the movement on the daily chart seems posed to take it to 1.3700, while Fibs suggest that yesterday ended a retracement dip to 1.3426. This notion is corroborated by the long candle wicks of yesterday's and ...
- George C replied Apr 10, 2010
This looks like a very promising S&R trade - a break above the 1.538 level could encounter limited resistance until 1.557 (on 4H charts). This is a nice potential 200PIP move, although the wide stoploss to the downside can make it tricky. Looking at ...
- George C replied Apr 9, 2010
Hey - was busy closing a transaction not related to FOREX (after all, it takes money to make money, right?), but now that it's out of the way, this thread shall have my undivided attention starting next week. Here's to nekkid trading, then.
- George C replied Apr 9, 2010
Hi Saxon, Just wanted to thank you for this thread - like you, I'm far more inclined towards naked trading than indicator-laden systems. I'm not at my terminal at the moment, but I will contribute a few charts over the weekend - great to see you ...
- George C replied Apr 6, 2010
So, I'm curious - how many people in late March made the same miscalculation as us by looking at what seemed to be a clear emerging trend south (a bounce off the TL), only to get slaughtered by the interest rate hike rumour the next week? :-) I must ...
- George C replied Apr 6, 2010
Just closed my shorts - I just don't see it ever heading south with the interest rate hike and the employment figures looking promising. But, of course, I have been proven wrong in the past
- George C replied Apr 5, 2010
AUD/USD H4 has formed what seems to be an ascending triangle, suggesting a possible break above the 0.921 resistance that has formed since 1 April 2010. Of course, if the bull run that started last week is due solely to expectations of a rate hike, ...
- George C replied Apr 1, 2010
So, now, what are the odds of a double top pattern forming on the daily?
- George C replied Mar 31, 2010
Still short; somewhat optimistic now that my drawdown has become manageable again (plus the other short I took from 0.92 has worked rather nicely). Let's see what New York brings, but I'm looking forward to trend resumption and eventual retest of ...
- George C replied Mar 31, 2010
What I sometimes like to do is to keep multiple positions open on different pairs (possible with technical analysis, but far trickier with fundamentals). When you see some of those turn against you and others in your favour, it will quickly put into ...
- George C replied Mar 31, 2010
I am still bearish on this pair. The Daily TL has held despite the big surge and yesterday saw a fairly strong reversal. On the 4H, the 38.2% Fibonacci and the 4H TL-turned-Support are stalling the decline and forcing a correction, but I am ...