Sad indeed — One has to seriously wonder whether they're not trying to drive the US economy into the ground on purpose. These types of decisions that bring about this flabbergasting multi-trillion deficit spells nothing but dire consequences ...

Yes, but it does apply to what Mouteki is teaching and can give people extra confidence. Take the 1st or 2nd fib (I forgot which) he drew on the 4h EURUSD chart in his latest video. Then extend the upper fibs to the left. See how the 423 and 261 ...

aaaah, but they are. Go back over some historical charts and draw some fibs that fit and then pull it back over to the left and see how many times the fib lines defined support & resistance in the past like on my example. It's almost as if the ...

Interesting — What a great thread! Thanks, Mouteki! As Mouteki says in his video, one can draw these fibs in many ways. Here's an example of the way I drew the fibs a few weeks ago because price has previously respected the 38.2, 50 ...

These are best used for long-term swings only for the reasons you mention and also because you can only trade them while the NYSE is open (9:30-4:00 EST), not 24/5 as with a Forex broker. That said, these ETFs give me extra flexibility in my ...

Forex type trade in a Retirement Account — I have a retirement account (called RRSP in Canada) which is essentially a tax-deferred account (like IRAs I believe). This account is with a stock brocker. For trades that can take advantage of ...

Many systems have an extra stop built in that reflects this. When price is stagnant, this particular stop is tightened (and keeps tightening over time) since the trade has lost momentum and momentum is a key component in a good trade. This is simply ...

Analysis — Now that we’ve had an overview of the different aspects and types of systems, let’s come back to the personality characteristics. Our own personality analysis should cover key areas such as: objectives personal strengths personal ...

Most systems aren't designed to work on all currency pairs / timeframes. However, a system that focuses on a sound exit strategy would work even though it wouldn't be optimized for any particular pair.

Picking a system - 2. System Requirements — Some absolute system properties, no matter which you choose: Profit Factor: this is the system's Gross Profit divided by Gross Loss. Look for systems that have a Profit Factor of 2 or higher. (from ...

Picking a system - 1. Personal Criteria — If you’ve done the exercises above, you’ve covered one of the dimensions necessary to find a suitable trading method. At the risk of repeating myself because this is a key point: whatever system you ...

Before you think I'm a stickler for the kind of work the last few posts require, I used to be the type of guy that tends to say “yeah, whatever...” skipping over the type of stuff I wrote above just to get to the meat of the topic, thinking I'm ...

Your personality — Coming back to a point I alluded to earlier. Your system needs to suit your personality. While I believe that most people have to change some of their habits to become successful traders, we still all have different ...

Thanks Bunton and Phil for the kind words.

Business Plan — So, if you have a good handle on points 1 through 3 from the last post, you should have some of the basic components for your business plan. Put down on paper what you know so far. This is a powerful little exercise that will ...

Thoughts on the business of trading — Let me cut to the chase as to what trading is -- or at least what I believe it to be. It's often said that the three most important things in real estate are location, location, location. In a similar ...

The high CAD is already affecting the economy in some parts of the country. A change in valuation this fast hasn't allow for businesses to adapt in time (in a similar fashion to the 90s when businesses had to adapt to an ever weaker CAD) and a lot ...

Yes, I suppose it's a matter of trusting the system - not easy to do initially when it's not yours. Sorry if my questions seemed to doubt the validity of the Bat strategy. I'm showing the blue line at 1.9548 with a factor of 4. Reducing the ...

Example — Hi TeamAphid, Thanks for the reply. I've attached the current GBPUSD 1 hour chart. The second last bar touched and broke the the red (bearish) Bat line which takes us out of the short trade we were in (please correct me at any ...