Can we support them when they fight? No. We are opportunistic followers, not helpers. Do you mean that Tier 2 & 3 fight for business from Tier 1 banks? Fight? Not so much. Compete? Yes.

The brutal truth of day trading

I've been focused on trading the since yesterday and couldn't comment on this post. It is important to study PA around key price levels/zones. Part of the challenge is to identify trade setups, and then work through which setup you are comfortable ...

The brutal truth of day trading

It's another brutal truth about day trading: TA does not work. Indicators do not work. But a trader who knows how and when to apply TA, or knows how and when to use indicators, will find success in the forex. The only thing that "works" in your ...

The brutal truth of day trading

Just a suggestion: don't think of any aspect of TA (your S/R levels, fibs, trends, etc) as working or not working. It's not these things that "work". It's your trading plan, and your execution of that plan, the either "works" or not. It's your plan ...

The brutal truth of day trading

I know you were joking, but there are others lurking about who are not. I need to be careful what I say! Good trading and take care!

The brutal truth of day trading

I think I've seen you on fti's thread, so you're familiar with the market squaring up. But under the circumstances it's probably best if I skip adding to this discussion any observations about poles, flags, and boxes, given that lines throw some of ...

The brutal truth of day trading

If anyone has been trading today, you witnessed the square up that I mentioned above. The E$ and $CHF squared up to within about 5 pips, the $j exactly to the pip, and the N$ and A$ both exceeding a precise square up. The G$ and $CAD will likely ...

The brutal truth of day trading

I'd like to post another brutal truth about day trading: successful traders learn to identify targets, trade to their targets, and add to positive trades (rather than exit) until your trades reach their targets. Part of the daily trading plan ...

The brutal truth of day trading

Hi RickM, Hope you had a good weekend! Thanks for the information. The NFP announcement is usually an interesting trade opportunity. About 15 years ago I'd go to breakfast or just workout on NFP Friday. I hated it. But, with a little coaching from ...

The brutal truth of day trading

Oops, my bad. The A$ hit .86 in 2014, not .68. It hit .68 about 2 years later, as you stated. The point was and is that, in Feb.2013, Stevens publicly stated a desire to see the A$ at .75, then proceeded to take it down in 10% increments. I know my ...

The brutal truth of day trading

Question 1: with the central banks, yes. Question 2: Yes and No. Here is some history to research. I will use the AUD, since there are a few Australian posting here and they may appreciate this example. In 2013, Glenn Stevens was the Governor of the ...

The brutal truth of day trading

Hi Rick, yesterday I was thinking about our conversation last week, as a surprise NFP hit the market. I was wondering how the volume looked before and after the number was announced. I was focused on the E$ yesterday, because I had two buy orders ...

The brutal truth of day trading

In all honesty, not behind his back. How about in his face. RiskM, you are a good guy. I am glad our paths have crossed, and my apologies for past differences. Good trading and best wishes. Looking forward to the next time our paths cross. As for ...

The brutal truth of day trading

LOL...sorry, but I'd be happy to explain the acronyms!

The brutal truth of day trading

Hi Maverick, Market structure is the representation of what banks are doing to organize, manage and shape price movement. In my trading, I analyze structure on the Day and 4H charts, mainly because banks trade the Day and 4H charts. Take a look at ...

The brutal truth of day trading

Market structure changes as fundamental economic conditions change, relative to the comparison of the economic conditions of the corresponding currency pair. Central bankers are the arbiter of the final interpretation of economic data, for the most ...

The brutal truth of day trading

Hi Maverick, I was about to head out for the day and saw your reply. First, you have listed the primary players in the forex, not structure. Structure represents the long-run view of an orderly market, as directed by national treasuries and/or ...

The brutal truth of day trading

I thought you were moving the discussion along pretty well with this line of questioning. Then, the discussion got derailed. One of the brutal truths about day trading the forex is that most people do not fully appreciate what they are trading. For ...

The brutal truth of day trading

Thanks Rick...got it. I'll send it over.

The brutal truth of day trading

RickM, I have been reading your posts and have been thinking about the volume indications you work with. This morning, I was in 2 sell trades in the E$, and 3 sell trades in the G$. If I posted the two charts with trades and time markings, could you ...

The brutal truth of day trading