Is there any logical reason you don't think S/R levels can provide any help? In your prior posts you claimed that S/R levels can be too subjective and that if you pick 10 different traders, they'll all use different S/R levels. However, don't you ...

Well, trade management only scratches the surface of what I am referring to. It's about understanding the context in which you take any trade that can make a big difference. There only are three types of trades that I know of: countertrend, ...

Bill, I understand that your goal is to keep this system as mechanical as possible in order to reduce subjectivity to almost zero. And I agree with you on this because I am a very rule-oriented trader too and I prefer to have everything lined out in ...

Hi All I ran into this thread 2 days ago and just finished surfing thru it. I trade emini futures but I do monitor FX on a daily basis, so I am very familiar with the pairs discussed about in here. I too use strategies that are based on divergences ...

Stevie Is there any way you can backtest how the two strategies - ranging strategy and trending strategy - would perform if applied together? This could actually be a good way to hedge out risk. By the way, I am not sure I completely understand your ...

This is a very good observation. Let me throw a few things here. 1) We had a major change in fundamentals that will likely affect all markets for the years to come. Usually when big fundamentals change - in FX the unwinding of the carry trades - ...

Hi Stevie I am really sorry for what happened to you. Just a couple of questions: 1) I thought you had some of your own funds invested as well? Isn't that enough to survive at least? 2) Why did the investor decide to redeem his capital? Did you have ...

Well, if you've been around long enough you'll know that markets anticipate fundamentals. You read this right, markets are much faster than economics. The dollar has been rallying to the disbelief of many economists, analysts and traders. Everyone ...

By the way, take a look at a monthly chart of this pair. Look at the move from end of 98 thru end of 00. That looked a bit parabolic to the downside, didn't it? What happened when EURUSD broke out to the upside? It produced another BIG PARABOLIC ...

The EURO has been overbought for 1 year...now it drops for 2 weeks and all of a sudden it's OVERSOLD??? Take a look at a daily chart: it's a parabolic, unhealthy upmove...when any market makes a big parabolic move, when it turns it tends to retrace ...

the fair market price is the market price, as simple as that. there is no fair market price other than current price. ECB is trapped between slowing economy - also due to higher EURO - and higher inflation. good luck mr. trichet.

I don't think going for more pips than your daily goal can be defined as greedy. At least not if you have a plan behind the extra trades. Daily goals are good, I have a daily goal range that once hit, I must consider calling it quits for the day. ...

Hi there Glad to read you decided to join the big boys and do this fulltime. It's going to be a great challenge but I am sure you'll be just fine due to your discipline and well-balanced personality. I am also very confident your private-family life ...

Major trend on this pair is still intact. I believe we need to hit drop below 1.50 before we can even think about calling a top in EURUSD.

You are only taking into account the US economy, which makes up for half of the picture. Real reason EURO sold off today was bad German IFO numbers, which showed early symptoms of European economy catching the flu from overseas. In fact, EURUSD ...

Well, this pair doesn't wanna hear about going down. Same has been happening to Oil, Gold and commodities. Same happened to the Nasdaq during the tech bubble. By reading lots of posts around forums, the sentiment is extremely bullish, like 99% ...

Hi I don't think any discretionary strategy can accurately be backtested. There is always a "momentum" component that just can't be reproduced by historical data. I am a discretionary daytrader myself and whenever I miss some trading opportunities - ...

Hi Steviet I am glad to see your strategy has been paying off since you started to manage other people's money. It's always hard to make the shift from your own money and other people's money, especially at the beginning. Just for educational ...

It just means what it states. There are stops below that support level and the word "eyed" implies the market may want to dip below to test them out. Markets love to test out supports/resistances. The word "stop" is an abbreviation of stop orders ...

I believe most traders - regardless of them being forex traders, futures traders, commodity traders, or stock traders - fail because they don't have a real edge. Most of the reasons I read from forums, books, articles only focus on discipline, money ...