DS, Why did u left out a mention of Portugal debt downgrading by Fitch? That could also be a factor driving risk aversion and the downside rather than whole IMF taking the lead? I cud be wrong, just want to know what you think abt that piece of news? ...

Stating The Obvious and The Quest For Wisdom

Pipmutt, great explanation, thanks. If I may ask one more question: Wat happens in case of a full blown monetary crisis when the liquidity dries up even at "their" liquidity providers?

How the markets are working?????

Well BM I am pretty aware of the fact that they match orders. One to another to collect the spread. The role they play is more of a broker as compared to a dealer/trader. Maybe, I got a bit off the road while rambling. What I really meant was - As a ...

How the markets are working?????

Good graph. Question one is down. Wudnt you say the next question a successful trader might ask you would be why ? Why does a market work like this? Why are there even people taking the trades opposite to you (forex or in a broader sense any ...

How the markets are working?????

2 million without stop? You remind me of "Xaron". This guy traded without S/L in 2008 and ended doubling his equity in 7-8 mths. url I am not sure whether his method included order flow trading or not. BTW, DS from the looks of it, you are trading ...

Stating The Obvious and The Quest For Wisdom

Herzog, a possible entry was cause of the outer TL too. Ignore the sell line. This is the screenshot of the demo and I put a short at 1.35 which I forgot to remove. image

DanUK Trend Trading Journal 2010

I am short too. Dan, how do you manage ur stops? Do you have some kind of alarm to warn that the price is hovering near your target point and it is time to move the stops?

DanUK Trend Trading Journal 2010

Dan, the downtrend looks to be breaking. At least for now. The COT index reads 6.82 which has recovered a bit from the extreme shorts. Plus the COT reports show adding of longs and closing of some shorts. The long opened are approximately double of ...

DanUK Trend Trading Journal 2010

Coolshades, I think there is not much a trend to trade. EU is ranging too much. GU has recovered from the beating and moving ever so slowly. Feels like we are having a bank holiday today.

Trend Trading Chart Thread

I believe it is a indicator called "Sweet Spots".

DanUK Trend Trading Journal 2010

You have been a great help. As for the TSL example, yes there is a pip by pip movement. It is set at 100 pips. So, once a enter at 1.5, the S/L is moved to BE when the price reaches 1.6 . After, that it moves on a pip to pip basis: 1.6007 -> ...

DanUK Trend Trading Journal 2010

Dan, I am still a noob at drawing TLs. So connected at least 2 highs and ended with so many lines. That is what has got me into this problem. I am thinking of going by the book and look for at least 3 connects. That wud remove the superfluous lines. ...

DanUK Trend Trading Journal 2010

Dan, Still awaiting your reply on my last chart. Btw, checked the COT report for this week. Did it even come out ? The site still shows 16 Feb's report to me. The COT index is still zero. So, we maintain our position of taking shorts.

DanUK Trend Trading Journal 2010

Dan, I dint mean that way. BE is infact a winner. Looks like I need to chose my words very carefully, especially the negative ones. Anyhow, I shorted down from 1.36 as it fell on one of my TL's.

Trend Trading Chart Thread

Stopped at BE. Looking to re-enter at 1.36. Lets see. Edit: Is position scaling followed using this method? I did take half my position when the price hovered around 1.35, so that the trade was not a total loss.

Trend Trading Chart Thread

Razorjack, my bad, I had in mind to put the description as "sold" but instead put "bought" for JPY. I messed it in a hurry to get to office. Low interest currency are used to get more out and are thus sold. As, for those terms, yes they exist ...

Identifying Market Swings - Medium and Long Term Trading

Dan, One doubt I am having is this.: We tend to buy/sell at round numbers. So, we took a short at 1.36 at 50% fib line yesterday. image Now, another TL touch was around 1.37 where the price went and bounced off. So, do we directly place a trade at ...

DanUK Trend Trading Journal 2010

Razorjack, What I really meant was something like you explained on UJ. It being in an accumulation phase (so you use VSA and Fundamentals ). So, now we are seeing a fundamental shift towards the JPY, it being bought to finance the carry trade. Next ...

Identifying Market Swings - Medium and Long Term Trading

On EU 1.35 is proving a gud resistance so moved my stop to BE. We might see a bounce back today.

Trend Trading Chart Thread