Elliott died a poor man. That says a lot about his theory.

How to rescue a losing position?

If you don't already incorporate it, take a look at price action trading around key price levels (support/resistance and supply/demand). This avoids lagging behind the action with an indicator and has really revolutionized the way I was trying to ...

9-25% Monthly Enough?

Thanks, I try to keep it simple. As for the move I'm pretty sure it was driven by dumb money fear with the whole fiscal cliff deadline yesterday on top of general end of the year thin market. The technicals were sound but every so often shit like ...

EURUSD

Don't feel alone, I stopped out earlier as well. Made a small profit but was hoping for better...

EURUSD

Hope after the fiscal cliff resolution that on Wednesday we get an opportunity for a retrace. There haven't been many larger frame entry opportunities to the upside for a while.

USD/JPY Discussion

Markets have different average true ranges, volume, and volatility. The most liquid markets like EUR/USD often make nice price zones that are readily identifiable, while others such as the exotic pairs are much more chaotic and require a keen eye ...

Feeling a currency?

I exited this one for small profit just above 1.62, wasn't happy that it broke the resistance there.

Cable Update (GBPUSD)

Have you taken a look at the material mentioned above by Sam Seiden? Sam basically just re-brands support and resistance if you want to be simple about it, but he does make a convincing argument for why it works with regards to supply and demand. ...

Where to start in this business?

No problem, as long as it works for you.

9-25% Monthly Enough?

I just wanted to point out that you should be careful if your strategy is sensitive to the EMAs - averages on larger charts aren't equivalent to the same period ones on shorter time frames. For example, on the EUR/USD right now a 7 day moving ...

9-25% Monthly Enough?

The US fiscal cliff deadline is tonight. If congress doesn't pass something then the Bush tax cuts expire for 2013 - big time ongoing news event. Also as smikester said, it's not a great time to trade given thin volume at the end of the year. I ...

Cable Update (GBPUSD)

"Comments are disabled for this video". At least the percent of thumbs down tells me that I'm not the only one who thinks he's full of it. "Don't ask how I do it"....it reminds me of an old 90's car dealer commercial that went to the tune of "How ...

Cable Update (GBPUSD)

It looks to me like the core of this strategy is simple support and resistance analysis. In your first chart, price initially broke out strongly, which indicated great demand. No surprise when price reacted strongly the first time, and again the ...

Magic-Breakout (optimised) with PPA - a new beginning

Given most EAs are developed by people who don't trade for a living to begin with (evidenced by the fact that they're selling you software), it's hard to believe that that very software is going to make you any money. The vast majority of EAs use ...

Automatic trading

Not sure it's going to fall that far, but a nice daily pinbar in the process of forming....unfortunately being Friday if you take it you have to do so before it closes. I didn't mark this level beforehand though so I'm going to sit it out.

USD/JPY Discussion

I was talking to a friend who doesn't trade about how beautiful this daily chart is.....there might be some amazing opportunities to buy in these top two demand levels if and when price returns to them. Classic and well defined support and ...

USD/JPY Discussion

Excellent and insightful post. This is more or less my goal as well....it's nice to be wealthy but my realistic goal is simply freedom. Working a 9 to 5 that you hate is not freedom.

Is it a happy life ahead?

My new years trading resolution is to trade my plan and only my plan. Discipline, in particular patience, is something I need to improve upon. I also resolve to never use another indicator on my charts again.

New Years (Trading) Resolutions 2012/13

If I were you I would inquire more as to what he's doing; an 80% success rate on a trend trading strategy is exceptionally high I think. Too often I see odd money management techniques that mask a bad strategy. Why can't he wait on a sound pullback ...

Negative risk reward ratios