Adding to a position simply because it has moved x amount of pips is not a wise approach. Do you put on your initial position that way? Why would you put on another position that way? When adding to a trade, it is a new and separate trade. It has no ...

You're welcome.

Finally, by zooming in this way, you can get a much better entry which really means a smaller stop. If I had entered on the daily, I would have gotten in at around 121.00. By going down, I got in at 121.35. The idea behind the trade was that the ...

And finally the hourly.

Now down to the 4 hour.

Here's the next one.

I use multiple time frames to finesse my entry. See the following charts.

Like everyone says, open a small micro-account with Oanda. However, don't put too much in it. Let's say you have $1,000 you can afford to lose. At first only put in $100. Lose the $100. Put in another $100. Lose that. Put in the next $100 and lose ...

I'd be willing to bet it was a demo account. It beggars belief that someone trading that much size wouldn't have phone numbers and/or the small amount of intelligence required to a) know at least the country and state/province where the broker is ...

One can't overstate the importance of this factor. When you're looking at charts everyday, you gotta like what you're looking at.

It's not the charting package that's going to make you money. I started 5 years ago with a very expensive package that cost me an upfront fee and $200 a month. Then moved to Intellicharts for a $100 a month because I found they did what I wanted for ...

It should be noted that Oanda's maximum leverage to OPEN a trade is 50:1. Once the trade is opened, then the required leverage to maintain said trade is 100:1.

The NFP is the best example to use. The methods used to collect data on a monthly basis are dodgy, to say the least. But they need to come up with some sort of number, so they do. On a quarterly basis, they're able to contact more people and collect ...

Send me an email and I'll send you an Excel spreadsheet that I use. I don't trade crosses, just the majors, but you'll be able to see the calculations that are used. It'll be a simple matter of altering the calculations for the crosses once you ...

RSI works nicely once you get the hang of it.

There's nothing misleading about it. The value of all currencies in forex are calcuated using the USD. And do you know why? Standardization, that's why. A trader in Singapore buying from a trader in NY has to be on the same page to avoid any ...

Correct. But the value doesn't change very much so if you're off a few pips, it's not going to make a huge difference at all. No, it's not. The market doesn't care about your account. All cross pairs pip values are derived by calculating one pair ...

Yes, it's called trend following.

Last year there was a CTA listed on the AutumnGold site who traded solely forex and had over $3,000,000,000 under management. He charged 1 and 20 and had an annualized roi of around 18%. I'd say he's fairly successful.