Great buy opportunity at 1.5914, based solely on the technicals. Historical support/resistance pivot combined with swing 61.8% fib retracement should provide a good chance to have a high r/r ratio.

Cable Update (GBPUSD)

Absolutely. I'm not sure I agree with adding onto winning trades though unless another high probability setup occurs in the same direction....and typically by that point I'm already out of my first one. Some people will add onto them with less ...

EURUSD

I meant your daily and intraday charts from a few pages back. Nailed it. Would have been nice to throw fibs on there though...wouldn't have tried to hit it without some other factor.

EURUSD

Cya later attila. Also, thanks for posting those charts earlier, I think they'll be useful for comparison.

EURUSD

That would surprise me. Second line being broken, not as much, although in my limited experience most of the time these retraces are just places where we see profit taking and then a bunch of other people jump on the bus at the nearest station. What ...

EURUSD

Best guess it hits this support turned resistance and heads south again. Would need more evidence to make a call though (ripped through first level and momentum still appears strong).

EURUSD

I figured it was some sort of trap where the price did something completely unexpected.

EURUSD

image No, really. None of us can predict the future. This is about choosing levels that are likely to react and playing them. If we could predict the future like you ask, especially something as ridiculous as what the next x candles are going to ...

EURUSD

Why waste time demoing if you're guaranteed to make money for your efforts? Put your money where your mouth is.

Martingale... How to make it WORK for YOU!

Absolutely. I only play fibs when they coincide with s/r levels though; I see them as a re-enforcing barrier that highlights and draws attention to an s/r level. In either case I'll be with you eyeing that area for a short once it gets there. The ...

EURUSD

I have the exact same levels - good to see other people on the same page. 1.3080 doesn't have a fib level confluence but looks to be pretty solid resistance anyway. All of these levels have a history going back several weeks but as levels shift ...

EURUSD

I can be patient.

Martingale... How to make it WORK for YOU!

Open a cheap account with another broker then. If this is as easy as you say it is why not put $1000 in an account and let us observe your trades? Surely you're rolling in dough already and $1k isn't a big deal to satisfy the critics.

Martingale... How to make it WORK for YOU!

Would you be willing to share a long term live account with us on trade explorer? I think many of us would be more than willing to observe what happens.

Martingale... How to make it WORK for YOU!

If you have a good strike rate, then the odds are much better but at some point, especially if you are a high frequency trader, it'll bite you in the butt. If you have a good profitable rate then there's no reason to allow a system incorporating ...

Martingale... How to make it WORK for YOU!

The odds of you losing 12 of 12 trades is irrelevant, unless you intend to double every time for a maximum of 11 times before you cut losses. My impression was that you were limiting risk to four doubles or 16% (1,2,4,8,16) before cutting losses and ...

Martingale... How to make it WORK for YOU!

Yes, exactly. A 93.75% chance to make 1%, and a 6.25% chance of losing 16%. Eventually you will lose 16% and you need to win often enough to compensate for that. Feeling lucky enough that you can make it through 16 sets of these individual attempts ...

Martingale... How to make it WORK for YOU!

I'm getting tired of this, as it's becoming increasingly clear the math is above your level. I know this is martingale. I know what you're doing. Each trial you have a 50% chance of reaching your goal (1:1 R/R). The chance of failing four times in a ...

Martingale... How to make it WORK for YOU!

To break even on risk you have to make 16% profit (1% gains each time you do the martingale procedure successfully) before you inevitably lose a martingale trial (which wipes out 16% of your account), so 16 trades. After you get 16 successful ...

Martingale... How to make it WORK for YOU!

It's not a "BS coin flip thing", it's binomial distribution. My apologies if you're not educated in statistics, but your ignorance doesn't make it invalid. What we are doing is calculating the cumulative probability that the 6.25% chance occurance ...

Martingale... How to make it WORK for YOU!