On the 4 hour chart there's a 50 pip gap between the price and the 8/13 EMAs. This gap will not sustain itself. Looking for some upside action to close it. Split the difference between current price and 9578. In and out for 20. AFF

Cable Update (GBPUSD)

Is it valid to consider a breakout from this channel resuming uptrend? Well my indicators say the pair is a long way from the support it needs from the 8/13 EMAs right now. About 50 pips away on the hourly and 60 on the four hour chart. I am looking ...

Cable Update (GBPUSD)

I can't agree strongly enough with the members who say "trade real money, even if it's a micro account." Nothing will trigger your fear, greed and stupidity faster and more effectively than trading real money. Nothing is more important for ...

When is it safe to trade full time?

The answer depends on what kind of broker you are trading with. If you are trading with a broker who has a deal desk, then you are gaining at the broker's expense. Like gambling in a casino, you are playing against the house. If you open a position, ...

Who's money am I reaping?

Do you agree or disagree that using a HMA3 would actually be giving a stronger signal than using the volitile price action breaking a trendline? I think you should test drive it for yourself see how it works for you. There are always historical ...

Basing Trendlines off of MA's

I hear you about MAs smoothing out the noise. I think there's an inherent risk in trying to pick highs and lows, though. I wasted a lot of time and bread trying to get my entries and exits closest to the reversal points. I use EMA 8/13 cross as an ...

Basing Trendlines off of MA's

Something to remember about MAs or any other indicator is that they follow the price. Price happens first, any calculation based on price happens second. For this reason I watch price first, indicator second, and would probably not base a ...

Basing Trendlines off of MA's

The most important difference between charting packages is in the data feed. I trade with a company that supports another charting package, but use MT4 as a backup on a demo account with a broker whose data is within 1 or 2 pips of my broker's feed. ...

MT4 Questions

Depends on your strategy. Your medium to longterm strategy might be long overall, but if you want to short the pair in the near term for intra-day trading, then it doesn't necessarily cancel out the other. Just gives you the flexibility to take two ...

Sub Accounts.

This is kinda spooking me. I didn't open my platform until late today, usually I am up for the London open but I overslept. All indicators are powerful up, and there's squat on the chart. I should be kicking myself all over the room for having slept ...

Cable Update (GBPUSD)

Did anyone notice that this current dollar dive took place right after the most recent meeting of the world's top central banks a couple of weeks ago? The meeting out of which NO NEWS ever comes? China put the spook into everyone and now it's all ...

Cable Update (GBPUSD)

Oh yeah, if you really want to know what it feels like to be ripped off, just hire a bunch of bureaucrats and paper pushers to do it for you. No THANKS. I'll take my chances with honest crooks. FF

Big Boys DID IT AGAIN

Hi, I am having trouble imagining why the Chinese would want to devalue the dollar when they hold so many billions of US Treasury bonds. Seems kind of counterintuitive to get repaid in dollars that are worth less than the ones you bought them with. ...

USD in Toilet but still buys Chinese Goods!!!

Because the market is a fractal model, you can use the same retracement strategy at any timeframe. I'm looking at hourly GBP/USD right now and we are at a 61.8% retracement of Friday's high before the NFP. If you had entered at the 23.6% cross at ...

What to do next?

I trade the Fibo retracement on days when a pair is ranging (oscillating within a 21-50 pip range) rather than trending (rallying in one direction for >50 pips). You'll get a feel for which days are going to be which, the more you trade. On ranging ...

What to do next?

I don't have a chart of his curent situation and I don;t know which pair or pairs he's trading. Here's what he does: He wakes up at 3:00 AM and enters in the direction of the trend for a net gain of 5 pips and goes back to bed. He wakes up at 7 and ...

Absolute Simplest KISS Method. Also, how do we measure risk reward?

My stepson elected to adopt a variation on this strategy. Has been working for him well up until a week ago. He's at a floating loss of 200 pips right now and waiting for the pair to correct itself. Not a pleasant place to be. AFF

Absolute Simplest KISS Method. Also, how do we measure risk reward?

Hi, Can we at least agree that there's more than one way to skin a cat in FOREX? Can we also agree that everyone has to find a trade style that suits them and makes sense to them? The key here is "makes sense". What does that mean? To me, it means ...

Anyone using Astrology, Numerology or Divination methods for Forex?