Great thread, lawgirl! Thanks for sharing. Kevin

Trade What You See - Almost Naked Trading

Top orange line because it is the open of the previous bear candle. A close above that line would suggest that the bears have run out of steam and the bulls have taken over. Kevin

Building an equity millipede

I still have one short USDCAD position alive from 8/31 (4 weeks) taken @ 1.0660. It's been ranging between +300 to +400 pips for past couple of weeks. Kevin

Building an equity millipede

I believe the point of the exercise (for now) is to work within the confines of fixed R:R. We'll likely learn that in the long run this way of thinking will not be very profitable. Later, after the point is proven, Jedi Master Graeme will further ...

Building an equity millipede

If it were me I'd close at 80. That yields nearly a 1:2 R:R (when the spread is taken into consideration), and you would've hit your fixed profit goal, so you can then move on to the next opportunity and a fresh beginning at 1:4. Of course, it's ...

Building an equity millipede

Yes. This is what I interpreted this exercise to be all about. That is why Graeme had Vee pick a pre-determined R:R. As we were getting ready to begin the exercise, I recall in a post that Graeme stated he intended to demonstrate that a fixed R:R is ...

Building an equity millipede

Um, actually I don't remember. When I first began trading I started with an FXCM US account, but can't remember if I re-downloaded the app when I switched to UK. At any rate, looks to be a moot point as Vee's daily candles are in sync with yours. ...

Building an equity millipede

Could it be EMA vs. SMA? Exponential vs. simple? Just a thought. Kevin

Building an equity millipede

Hello Graeme, The new daily candle on my FXCM-UK account opened exactly one hour ago at 5 PM New York time, so it looks like there could be a small discrepancy as from your post your new candle is still an hour away (is that correct?), which would ...

Building an equity millipede

I respectfully disagree. This system or approach, rather, is as good as any other and better than most. Once you understand its potential for infinite gains, you can to begin to harness its power. True, markets have been ranging as of late. But, as ...

Building an equity millipede

tjfxtrader, The soon-to-be-implemented 50:1 leverage cap won't affect the value per pip, just the margin requirement. Current 100:1 margin for a mini lot is $100 ($10 on micro lot) on USDXXX crosses. That will go up to $200 ($20 on micro lot) on ...

Building an equity millipede

Good luck, Ben. Hope to see you back soon! Kevin

Building an equity millipede

I have two live accounts that do what you're asking. MB Trading using MT4 platform and FXCM-UK. Kevin

Building an equity millipede

Pip_daddy, I know your question was directed at Geoffrod, but since I have been in the middle of this discussion, I'd like to add my take. Please see charts below. The first one is the daily with the FB. The next one is an hourly which indicates an ...

Building an equity millipede

Not to beat a dead horse (Ooops! Too late!), but I think both approaches can be equally valid. It just depends on your comfort level. As you stated, you prefer to wait for the next candle to get confirmation that the FB (or pin bar) is really ...

Building an equity millipede

I respectfully disagree on the definition of an FB. If it's outside the 5 & 10, it's an FB in my book. Totally agree on the confirmation part though, since we know that most FBs fail. Confirmation is subject to personal preference, though. For you ...

Building an equity millipede

I don't know. I think a case could be made for shorting this pair, although I'd personnally wait for additional confirmation. On my platform, the last 4 daily candles have closed as FBs suggesting that the daily uptrend is losing steam. Also, the ...

Building an equity millipede

Scott, Graeme has stated that he doesn't use a hard stop loss most of the time. He is relying on his superb entry skills to take advantage of momentum that will allow him to move SL to BE after a quick move of 15-20 pips. If the momentum doesn't ...

Building an equity millipede

I look for areas of S&R on weekly, daily, and H4 charts and set alerts to notify me when price returns to those areas. I typically anticipate a wick-bounce to occur, so when I get the alert, I zoom in with M5 chart and look for signs of ...

Building an equity millipede

I use Forex Tester. It's not free, but it can be purchased for a reasonable (IMO) price and it is extremely robust. I was introduced to it while attending one of Rob Booker's seminars, as it is the tester that he uses. I believe he was closely ...

Building an equity millipede