Someone once told me that if you get 5 Elliot Wave traders in a room, you will have 5 different waves. I don't trade it at all, and it takes too much thought. Much like that description of the GBP/JPY you just thought out. You want to know the REAL ...

Exits: Our worst enemy

Well, one thing for sure is taking profits way too early. A common example is the following: You have had two losing trades in a row. They cost you 20 pips each....So far this week you are down 40 pips. Then, as you short the USD/JPY pair, you see ...

90% of traders lose money! True or False?

I am starting to think it's because Jacko won't stop going long the damn Eur/Usd pair. Thank you for your input by the way Jacko....it actually was your thread that got me to think about "the big picture", as in....."Why bother shorting the ...

If I knew then what I know now

Yes, in fact it really wasn't that long ago. I had gotten to a point where I just didn't seem able to come out ahead. I was getting better, as in smaller losses...but couldn't quite make it over the hump. Then I had my first "AH-HA" moment. It had ...

If I knew then what I know now

Preliminary Results on 2001-2002 4hr. triangles. — 4 hour triangles going with the overall trend, (i.e. daily, weekly, monthly) are roughly good for twice as many pips, when compared to triangles going counter-trend. For example, in 2001, of ...

Testing the breakout.

I would venture to say that 90% is probably an accurate figure. I would have never thought what I am about to type here is true just 3 months ago, but here goes: In general: Brokers aren't screwing you over. There are too many impulsive traders out ...

90% of traders lose money! True or False?

Spot on. — I have to agree here. I can't tell you how many times I made that mistake in the past. Although there is wisdom in sticking with one or two pairs, getting to know them well, etc....there is also something to be said for watching ...

how to handle trend change?

Cool, thanks goodthings....the more the merrier here. I too sometimes play that pair. Take your time, as accuracy is important, no rush. clockwork Chris

Testing the breakout.

Thank you all for the kind words. And the reason I wrote this, is mainly because I understand the frustration so many people experience trading. Trust me, I KNOW. I am not trading large amounts of money yet, and that is because I want to get this ...

If I knew then what I know now

I believe that the biggest problem is that Fibos can be drawn on weekly, hourly, 15 min, etc. BUT, I can say that if you draw a few from various swing lows, etc.....when you get two lines matching up, then you have a place to WATCH. And by watching, ...

Fibnacci trading..Are U thinking what i'm thinking?

I have used the "wave" for trades as well, with some success I might add. But to be honest, what I really don't like about it is that it takes up even more space on the screen. Truthfully, if you give a trade long enough, it will go from support to ...

Exits: Our worst enemy

True, and yes.....I am tracking if it is within the daily/weekly trend. (For example the 4hr breakout, which is where I am finding the greatest success so far.) For example... I have found with the couple of years I have gone through on the 4hr, if ...

Testing the breakout.

I believe that all systems can work, if you have a "feel" for them. There are several different ways to go about this. As long as you see a reasonably consistent return on whatever your signal is to buy or sell, I would stick with what you are ...

Testing the breakout.

I believe it is both. Obviously it's buying cheaply, but more than that, it's a visual tool that an enormous amount of traders use. The Fibonacci retrace is simply a self-fulfilling prophecy anyways. So, the trick of course it to pick which one. ...

Fibnacci trading..Are U thinking what i'm thinking?

Yes, I can't tell you how many little "edges" I have looked for. And actually, this doesn't need to be that hard. For a few years now, and just watching candle stick patterns and avoiding potentially bad news announcements....Maybe follow trend ...

If I knew then what I know now

This is a perfect example of not doing money management. And no, this is not me trying to be judgemental, just saying it is obvious. My guess is the greed got ahold of you. I have found that small consistant gains with the occasional homerun is how ...

1000 to 150 in 2 weeks..

Just an update, I have two years of EUR/USD data figured out, will post soon on this board, another day or two......very promising results.

Testing the breakout.

First of all, thank you. And I am looking into success ratio. whether or not it pulledback to breakout. And also a ratio. Ratio being in relation to width of rectangle or triangle. For example, say you have a 30 pip wide triangle that goes up.... I ...

Testing the breakout.

Funny...... I looked at the NZD/USD chart this morning, and the "SELL" button was gone. Same thing with the other NZD charts. It's all about the interest baby! Too bad I am not much of a carry trader.

Why is NZD so strong??

I wasn't implying that anyone here was working for Vantage, just commenting on how it is rated. And YES.....like I said, I think some of the ratings are skewed on forexbastards.com But lets be honest, if you would just invest 3000 in a mini-account, ...

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