This is what I say. You can be fundamentally correct and still lose as the market does what it wants. Still, I greatly appreciate Kzazs' rational analyses. As I write this, NZDUSD and NZDJPY have bounced off their day lows. I would not short unless ...

NZD - A disaster waiting to happen

Thank you. As to my academic use of language, I plead guilty. I'm afraid there's just not very much I can do about it. In the words of Popeye, "I yam what I yam!" image

My Rules for Forex Trading

The Red Sox owner's point is well taken. BUT, trends in forex are better traded in shorter timeframes. Of course one can look at a weekly chart of GBPUSD and say "you could have traded every pullback to the trendline." But in my opinion, it is more ...

My Rules for Forex Trading

I am primarily a short-term trader. When I wrote those rules, I was thinking of my short-term trader friends, and I should have included that as a caveat. Of course if you are trading swings, you should give your trade every chance to work as you ...

My Rules for Forex Trading

That's not a Cornflower short. Price is not below the 72 EMA. In fact, I have no idea what you're doing here whatsoever. One of the principles of this system is simplicity. Why all of these superfluous indicators? An indicator is not going to give ...

Cornflower Hourly System

Yes, that's correct.

Cornflower Hourly System

It would not follow the rules of my system. Cornflower breakout entries are identified on the 30M chart according to the rules I set out. That said, trendlines are a solid tool, and your strategy is certainly one way of trading the breakout. There ...

Cornflower Hourly System

THIS IS THE ONE!!! image

Show us your best fake Grail...

If you are trading only hourly, yes, you would wait for the 24 ema to cross the 72 ema. Then you wait for a pullback. You can use the 30M chart for the kind of entry you are describing; see the "initial" rules. You'll have to ask James, it's his ...

Cornflower Hourly System

If you are taking the M30 entry, you want the shorter EMAs to already be in a perfect order (8 over 12 over 24). When this is true, it means that price has been building toward a breakout.

Cornflower Hourly System

Some recent trades — I want everyone to know that I am actually trading this system and not merely theorizing it. So, here are some screenshots. All times GMT -5. Go Cubbies: url url (Those last two from the Asian session. Sometimes it ...

Cornflower Hourly System

I don't trade pullbacks on the 30M. The 30M is for a short-term trade of between 10 and 50 pips. That's not to say that you can't trade pullbacks on the 30M. It's just riskier. Experimentation is a good thing. I have not been trading this system ...

Cornflower Hourly System

That's the right attitude. If more traders thought this way, that "95%" figure would be much smaller. Have discipline, and have a life too.

Cornflower Hourly System

A daily or 4-hour system is perfectly acceptable if you want a life. Even with my hourly system, there's no need to sit in front of the computer all day looking for trades. Metatrader can send you alerts via email if the price reaches a certain ...

Cornflower Hourly System

That was a good 30M initial setup. Bar closed at the bottom of its range below the 72 EMA with support from the shorter EMAs. I just woke up and missed that move! I hope you made some pips on it. Yes, you wait for a pullback to the area between the ...

Cornflower Hourly System

Good point. If you look at the post-Thanksgiving breakout on GBPUSD, the pullback from the high stopped right at 38.2 percent. Why? Because everyone had the thing drawn on their chart. When we have a significant breakout such as this, the fibs can ...

Fibs

Well thought out analysis, Kzazs. Thanks.

NZD - A disaster waiting to happen

I don't use fibs. In my opinion it is superstitious mumbo-jumbo for traders who want to control the market. Sure, price sometimes stops at the 38.2 retracement level. It also stops at the 45.8 or 91.3 level just as easily. I trade on what is ...

Fibs

Yeah. Indicators are just that, indications. They aren't predictions. EMAs are the most useful because they indicate the most recent trend, and you can use them as moving support. Even stuff like stochastics, MACD, CCI have their uses, but as I have ...

How many of Technical Analysis based systems are junk?

I appreciate the compliments thus far. However, I am puzzled as to why what I have written would be viewed as "cliche." In particular, the information on position sizing and money management is geared specifically to forex traders. The reflections ...

My Rules for Forex Trading