Ramblings of a Forex Junkie

yeah common sense really, if a level has been there longer, more traders have seen it, more have had a chance to trade it...= more power.

At around 1:45amET, USDJPY broke out of it's Daily 12amET Open and previous day's NY 5pmET Close. The respective NY Close on EJ and GJ were not expected to hold (as overhead resistance) if Yen pairs were to rally further. By 3amET London open, there appeared to be simple pullbacks on EJ and GJ to ride the long side (entry in circled area). Too bad the breakout was a weak one as we saw the 3:45amET long wick bar suggesting no follow-through to upside.

I noticed that Seneca Pilot has privatized his Myfxbook account link, looks like he's serious about taking a break from trading. It was good learning to watch him trade the price levels taught in this thread. Looking forward to his new test account "Seneca 4".

As for the IRC room I suggested in post#3069, due to no interest I will shut it down. Sorry for the disruption if anyone tried the instructions and found it troublesome to join in. It is now closed

I am unable to upload anything either. Haven't been able to for quite some time now (or since FF implemented the new changes to the forum). I'm not sure why either. Never had a problem uploading anything before. Just thought I would let you know that you are not the only one.

Thanks mmaker. I have thought of utilising a site like that but kept hoping the FF upload function would start working for me with each forum update (because there have been quite a few lately). I left a chart uploading for 15 minutes once but it still didn't work. I don't think anyone would miss my charts anyway .... lol

Good day, I am glad to find this thread, I just want to say hello, and say thank you for these ramblings that are very good. I already changed my way of trading. I used to trade with the momemtun, but feeling much better to trade with levels and adjust my R / R, SL, much less stress to get in, but I pay close attention once inside. exact opposite of before, that to enter was all a drama. So I hope to continue the excellent trade here.

I have followed this thread for a while and while I don't trade using the opens/high/lows etc (I have an aversion to horizontal lines on my charts) I have developed a great deal of respect for SP as he has shown himself to be a very good trader and an even better person in his openness and willingness to nurture a 170+ page thread and answer the same questions over and over. Anyone who is trying to find themselves as a trader would be wise to stick with the approach outlined here through thick and thin and really learn how to trade it.

I am sure that many of you have seen by now that I have made the explorer private again. I have had a two day long conversation with my wife and this has resulted in my decision to remove this thread from my daily routine. My children turn one year in less than a month. We have an ongoing construction project with our new house. We are still trying to fully settle into this house while caring for my wife's elderly parents, raising twins, living life, and trying to maintain a marriage.

There will be no website. There will be no live room. There will be no mentoring. I don't need the time commitment or the headaches. I certainly don't think any small profit I might have made would be enough to justify all the hours that I would have to pour into the effort. As for auto trading I have done some research and find that it is very hard for a provider to actually collect his or her commission. Again any small profit here would surely not justify the effort. I was reminded in a very nice PM that I have years of trading history that can be audited if I want to go after qualified investors.

Every thing you need to build a trading method is laid out in this thread. There are many different ways that a trader can use the price levels outlined here. There are patterns that happen daily with these price levels and a little digging and testing will uncover many of the things I use daily. Just a quick look at the daily opens with GJ this week should be convincing enough. At this point this thread has become a chart thread with question and answer. The thread has lost its direction and its true desired meaning.

Some where this week I let a bias creep into my trading. This can have disastrous effects if you let it stick in there. Please note that I stopped trading in my real account and went straight to the test account to drive this out of my system. This will be my last lesson to you guys. Keep it simple. Keep your eyes and your mind open. Be sensitive to the changing tides in the market and go with the flow. The levels I have laid out here will give you the trigger points to do these things and make money but only if you apply them consistently and manage your money properly. These levels are not a rigid set of rules but a framework that you can use to gauge the strength and direction of the market. If you use them this way you can achieve anything this world has to offer.

Bye for now

Chris

It was fun while it lasted.

Best wishes Chris.

I haven't followed your thread, but I have looked in from time to time. You're one of the good guys.....and family and 'real' life comes before anything...no....before everything else. You're making the right decision.

Take care,
RJ

All the best Chris and thank you for your time and teachings.

Thanks a lot SP. Great thread! Best wishes for you! If after a long time, you feel like to have occasional sharing again, please do.

Chris, let me first off express my gratitude for starting this thread and sharing with us your expertise. This thread is and will remain without a doubt one of the gems on FF. I can also perfectly understand that you rather tend to other aspects in life (family, etc.) and not continue to hold hands for free. God knows how many gurus are providing a fraction of the info you have provided for quite a high price tag.

Btw, did you decide to shutdown the explorer due to constant PMs from traders following your entries?

No, I am back to exploring experimental entry methods and don't want anyone following trades that might not work out. I have a new thing that centers around the session closes. All the things I find myself trading are off the levels in this thread just different ways of using them.

Thanks for all your work SP,

Cheers Chris, I'm sure you realise you've been a huge help to a lot of people and have created an excellent resource here. Your commitment to the thread has been utterly impressive and though you may feel like you've needlessly distracted yourself from your various trading/life duties please be aware of the immense amount of assistance you have given fellow aspiring traders here.

I also agree you are doing the right thing by the sounds of it. Although it's probably going to be very hard to pin down and contain the aspects of your approach that are letting you down at this time I know you are a fighter and will come good.

All the best to your family, say hi to your wife and offer any apologies that seem necessary for the demands we have made on you. When someone comes along who knows what they are talking about it's understandable that the questions will flood in and you've been generous enough to oblige.

Wishing you a swift return to successful trading. Steve

Many thanks for your patience and teachings, Chris. Wishing you good trading and treasure the times with your family.

Wise choice my friend. Wish you the best and hope you'll stay in touch from time to time.

OK SP has gone .... what the F@#K are we gonna do now boys?!!!

anyone here know how to trade?

Thank you all very much for the kind words.

Chris.

I really feel bad that you are going to leave, since this thread got me started in trading. You probably saved me from years of anguish, since I was about to go

down the indicator road before I stumbled upon this page... Your method really works, even a novice like me can see it. I made back all the losses, and am now

currently at breakeven, so thank you for sharing your knowledge with us. After you settle in and have some free time on your hands, maybe you could drop by once

in a while. I'll probably lurking around here somewhere studying your old posts, so you know where to find me lol



I wish you the best, and thank you again.