Put a bunch of oscillators (CCI, Stoch, MACD, RSI, %R, Awesome, Ultimate, Alligator, Momentum, etc.) on one chart with the same time period, and tell me how many of them look almost the same, except more or less choppy/noisy. Put a bunch of MAs ...

How many of Technical Analysis based systems are junk?

I think it had to do with interest rates. Longer term currency traders have to worry about that more than intraday traders. The gains he made from shorting the USD weren't enough to overcome the money lost due to rising interest rates. However, he's ...

Do you trade with or without a chart?

I agree with this. Set your stops below/above where your system says you should exit. Too many traders use stop orders as the exit, but this only causes whipsaws. The real use for a stop order should be in the case of a disaster: when the market ...

To Trailing Stop or Not To Trailing Stop....

I think the fact that the US is a consumer economy means that the dollar is going to be weak for a loooooong time. The trade balance between other countries is always negative due to the fact that half of the US "economy" is consumerism... not ...

USD - What economic factors will make it strengthen?

Ummm... didn't he dump billions of dollars for Euros a few years ago? That's still FOREX because it was done on the interbank market. Remember, before retail traders, the only traders besides banks on the FOREX market was multinational corporations ...

Do you trade with or without a chart?

I read an article recently that said a good indicator a stock is going to tank is if its CEO/President blows millions of dollars on a new mansion. The article ended with the fact that Warren Buffet still lives in his modest house in Omaha that he ...

Do you trade with or without a chart?

Yeah, what XLInvestor said. Almost all of those pairs are either USD or JPY as the secondary currency. The USD has been weak for at least two or three years now, and the USDJPY has been range bound for the past five or six months, meaning that ...

How nearly EVERY pair gap downward?!

What are the pairs? If each one was something against the USD, it could've been an odd coincidence that the GBP & EUR were weaker than the USD over the weekend, yet the USD was weaker against everything else (AUD, CAD, JPY, etc.).

How nearly EVERY pair gap downward?!

Actually, a better example would be Polaroid. Eastman Kodak decided to completely go away with consumer film a few years ago, and go with photo printers/printing kiosks for digital photos and get into making digital cameras. Sure, they still produce ...

:: Pips are not what counts ::

I was thinking in terms of stock index futures (S&P, RU2000, Dow, etc.), which I didn't do well in scalping those due to a lack of capital. But yeah, comparing the contract info between the stock and currency futures, it looks like the risk is about ...

is it feasible to scalp gbpjpy?? how??

Huh... so Hotspot went ECN... how about that. The other retail trader ECN brokers out there are MBTrading (which is actually the parent company of EFX... so they might just dump you into an EFX account anyway), Interactive Brokers and Dukascopy (but ...

is it feasible to scalp gbpjpy?? how??

...and don't forget, you don't have to worry about interest rates and carry trades, as these are built into the price of the future contract. Unfortunately, you need tens of thousands of dollars to trade futures effectively without big drawdowns ...

is it feasible to scalp gbpjpy?? how??

The reason why the GBPJPY throws a lot of pips each day is because you need a lot of margin to buy/sell the lead currency (GBP) and get little return on the secondary currency (JPY). This is the same reason why EURGBP seems to "go nowhere". If you ...

is it feasible to scalp gbpjpy?? how??

Usually it's 6-7, but when the market gets too busy (ie: news times) or too slow (ie: Sunday evening), it's more like 9-10. But personally, I think trying to scalp during those type of market periods is stupid.

is it feasible to scalp gbpjpy?? how??

The shorter term time frame is used to give entry and exit signals, while the longer term confirms which direction the trend is going. So if the 4H chart shows an up trend, only use long entries and short exits on the 1H. If the 4H chart shows a ...

Question on Lower Time Frame Indicators Vs. Longer Time Frame

Personally, I have something I call the "25 rule": if your chart's setting causes more than approximately 25 bars (+/- 2) in a trading day, the data will be too noisy. So for FOREX, anything smaller than a 1 hr timeframe is noisy because it will ...

My "Holy S**t Moment"

Yep... buy dips on uptrends, sell rallies on downtrends. And the "hold position" part is something that needs to be emphasized more, as that's the part that makes you "hit the homeruns".

Simplify your system