there are three key ingredients and they are all equally important: 1. having an edge in the markets; something that puts the odds in your favor 2. risk management; understanding you are not going to be correct every time, and developing a plan that ...

How to be a successful trader?

set a limit 3X the distance my stop is. so if i entered with my stop at 50 pips away, my target exit will be 150 pips away from entry. either that or, in some instances where i think the fundamentals are very supportive of a long-term trend forming, ...

Closing trades: What strategies do you use?

gold is much better than silver. for starters, I think gold is going to get officially re-monetized in some way as part of a new international monetary agreement; I don't think the same can be said for silver, and this is the biggest consideration ...

Do you think Silver is a better investment than Gold?

it's been said a million times, but that's because it's true: psychology is a huge factor. i think it's the main reason people fail: unwillingness to accept losing, a desire to get rich quickly easily, refusal to commit to a plan....read the books ...

Still losing

usually no music; maybe talk radio or a movie in the background. music i use for errands, working out, or relaxing.

What kind of music you hear while you trade?

i've traded with a bunch of brokers. the ones i think positively of are oanda, fxcm, and avafx.

Which Broker is truly reliable?

Great charts, Chris. Pin bars off support/resistance are my favorite setup -- I think one can rely just on that to earn a nice take. Going to spend some more time reviewing your material. - HouseTaker

Price Action, Pro, And Ichi Trading with 2ndskiesforex

i've always found it easier on the 15 minute timeframe, although i don't trade silver too actively unless it is really heating up.

Silver Scalping Thread

just want to echo what others have stated......there is no rescuing, there is only acceptance of small losses. to minimize losses, explore strategies related to pyramiding and moving your stop to breakeven. but if you do that too soon you will run ...

How to rescue a losing position?

and here's the daily chart....and thanks for the tip, alan!

HouseTaker's Trading Journal

hope you're right alan.....here goes, the hourly chart on eurgbp

HouseTaker's Trading Journal

Yikes! Looks like images don't show up in threads, but they do in attachments? Well here they are, added as attachments.

HouseTaker's Trading Journal

Over on this thread at the DailyFX forum is a discussion on RSI. Not exactly a new topic, but one to keep in mind nonetheless, because the way RSI should be used -- no, the way EVERY technical indicator should be used -- has more to do with ...

HouseTaker's Trading Journal

I'm too conservative for most traders, as I wouldnt consider entering until it broke through support at 7050 or resistance near 7920.

GBPUSD

looks like images do not appear in threads.....going to retry as an attachment

GBPUSD

gbp ready to be shorted? — anyone getting ready to short gbpusd? seems like it's up against a pretty solid trendline on the dailies.... image

GBPUSD