What works, and what doesn't

I dunno.. i just make a lot of pips

Exiting at Liquidty.. Not getting greedy...

Let winners run is stupid saying for people who don't know how to trade

19.7 pips total asian trade.. Between jpy above and cad Not bad for slow asian session.

Gap fill trade on cad.. Small scalp was really slow...
Exit at liquidty...
I use candles when trading.. Easyier to see trade on bar chart.

In slow times market usually bouncing between points of liquidity.
At faster times... data, news, london/usa overlap session (strongest session) ... Price is more likely to be break though liquidty and set new levels.

Trading is all about Liquidity, Volatility, Time of day.

1. LIQUIDITY Always trade at area's of liquidity as a reference point

2. VOLATILITY - Anticipate Volatility.

3. TIME OF DAY - When does the next market open, when is the next new event.

Price action consists of basic things... that you can see with your eyes.

1. Spikes (weak but fast)
2. Sideways consolidations (dead, 50/50 shot or up or down)
3.Grinds (slow moves up or down) Strong trapping traders the whole move

Levels are
1. Fresh Best...
2. used usually fail.. (area's where you find stop runs)

Put the odds in your favor...
When price spikes and gets overbought/sold on your timeframe.. This is great.. Huge oppertunity..
Trade after a spike into a level you can define risk.
If the spike is on huge news... switch to higher time frames and be more cautious then a spike at london open or lesser news.
Example if price spikes on Yellen rate decision or draghi be very cautious about fading it.
If price is going sideways.. you got a 50/50 shot.. not good odds
If price is grinding up or down.. Be very careful. Grinds are tricky. I usually wait for volitility to pick up .

Price going no place... Stops building both sides. Why would you enter here? NO REASON!
Price ends up Whipping out longs and shorts and End the day back in the chop.
You have no advantage of Entering in a sideways market.

You want to sell after a ralley or buy when price has been over sold..
If you see Sideways for multipal hours.. Your best off just waiting for a better oppertunity

Trade the highest M30 open / lowest M30 open.
Plenty of pips to be had.

Hey WolGod, did you have any joy with the cum delta indi here at FF for mt4? There is a version that captures the tick data to a file in mt4 I wonder if you have tested it out bud? I am studying volume and I defo agree with your comments about the big institutional players. I would love to understand the cum delta indi more and see if I could incorporate this alongside volume, to give a more accurate picture? I would love to test this further, I am very interested in the delta too, no doubt quite a bit of study and testing required, I would love to hear from you, I see the value in your posts hehe pun intended, alright have a good one. Best regards J

can you please show live chart examples ?

Thanks a lot for your meaningful thread, but I seem trend line is very important technical tool, but you may not get good result by using trend line, when you try to use this technical tool during rangy condition of market! I use this tool when I am very sure about the market trend, trend line helps me to identify dynamic S/R levels!

Another thing to watch is the stock market... When stocks are flying up on no data... It usually means the market is dead. Stocks going doesn't mean buyers.. it means sellers are only selling at the top... so buyers need to pay up to get in. There is a huge difference between stocks going up on buyers.. and stocks going up due to lack of selling. So try to figure it out...

When stocks ramping up... currency can go sideways if its due to slow market..
When stocks go up, can put pressure on dollar to go lower.
Nothing is 100% but just something I watch for clues.. Where is the money flowing today?

also good to watch bonds.. can be a major driver of the dollar. Most chart if bonds are going up, yield is coming down.. which is dollar negative.
(unless your using a bond yield chart), then up is dollar positive.

My main point is... Just have a look around, gold, stocks, bonds, German bunds, japan stocks, china stocks, oil, (iron ore if you trade aud). And see if you can figure out where money is flowing, which may help you with a bias for the session. Might take months of watching them, to really get the feel. And no correlation is ever 100% Its just a clue to what you should be doing.

Also Always trade at levels you think buyers or sellers may be waiting, where you can clearly define your risk.. never just trade on a correlation alone.

In Forex Trading we cannot expect to earn profit from our first trade, we need to have lots and lots of knowledge and experience and skills in order to survive in Forex Trading to earn some good money online.

Discretionary trading & gut vs impulse feelings.
I think its a myth just to find one setup and trade it over and over. First I find a level i'm interested in, if think there will be orders at that level. I know how much to expect from a price move from looking at near term history, daily candle size, news flows, time of day ect. Then I'll have a look around the other markets and see if they are giving any clues. If I think the odds are in my favor, I'll take the risk.. If not.. I wait for odds to be in my favor. IF i think market is thin, maybe waiting on a new data like nfp, or a rate decision, or some other market driver, I may skip the signal. It very discretionary. I see a level, and use my brain and experience to make the final call, if the conditions are right.. This only comes from hour, days, months, years, of watching the market. There is no shortcut to getting the feel... Gut feelings shouldn't be ignored, but impulse feeling should be ignored... The difference is, after a price spike.. you may get an impulse urge to chase... Bad idea.. But a gut feeling is different.. Its like your subconscious mind taking over, and you pretty much know whats likely to happen next. So.. trust your gut feelings, and ignore your impulse feelings. And always trade where you can define your risk first, in case your gut is wrong.

THE MOST POWERFUL TIME OF DAY IS NOT ALWAYS THE MOST PROFITABLE
London/usa overlap is most powerful time of day. Levels don't hold, this is the time where levels break, then keep you trapped as london closes. and goes into a tight range rest of the day. Its usually huge moves if asia, and london were very slow and did less then 30 pips the whole london session... Why cuz lots of london traders have tight stops.. and usa just blows them all out at once. Tight range = tight stops= big move more likely.
If your new... you may consider taking usa session off... you might find your profitability goes up, as more levels tend to work at slower times of the day. Yes its less pips, but its not about that... Its about profitability first. You don't need 100 pips a day to be profitable, if you can get 10-20 pips consistently almost every day, your doing good! In Fact your don't better then most!

Do doubt, trend line and chart patterns are useful, but the problem is, following any technical data so blindly! Forex trading is one of the smartest profession in the world! So, there is no way of making unlimited money without enough hard work.

If you can get maximal result from Forex within short time if you have most powerful analyzing trading strategies with great money management plan. Otherwise you have to wait for a long time to make profit with consistency.

Yes, of course, and along with money management, it is also necessary that you learn proper risk management.in order to have success in Forex Trading.

If you trade FX, you should absolutly be watching other markets. Gold, Dax, ASX, Hong kong, Dow,Spx, nasdaq, Bonds, bunds, oil. Try to figure out where the money is flowing.

If your new, Pick a session... Get to know that session.. Get to know how it acts during news and slow news days. I'd suggest not picking USA session cuz of the huge moves.... The point isn't to get the huge moves, its to be consistant and profitable, even if its only 10-15 pips a day!

I'd also suggest staying away from GBP, which is always a mover if your new.. Remember, consistancy is the goal, not pips.
also pick pairs with small spreads... E/U A/U u/j...

1. Figure out where the money is flowing....
2. Don't trade Usa/london overlap.
3. Aim for consistancy, Not to get rich quick, or 100 pip moves.
4. choose pairs with small spreads, avoid gbp if your new.
5. Avoid gambling on huge data, news events.

I 1001% agree to this phrase. Fx traders must understand that currencies are influenced by alot of factors. Although not technically correct, i find it easier to imagine that currencies are made up of other asset markets such as stocks, bonds, commodities.

It will be helpful if traders have a basic knowledge of macro economics.

Volatility = Opportunity. Trading without volatility means that you trade without an edge.

Without volatility you get choppyness. Levels don't hold.. Nobody is excited.

How are you going to find a A place Place to trade thats Volatile and high volume? Trade right after a news event when the heat is still on.
If your trading a slow market.. Your gonna get chopped up using volatility methods.

Price behaves better when the heat is on. And gets sloppy, grindy when the heat is off.
This being said... You never gamble on the news event itself... You trade what happens after!