Web based resources for candlestick patterns — Some of the better free web-based resources for illustrating and explaining candlestick patterns: url url url url url url url Note to moderators: this is all free material. I have no ...

Candlestick Patterns for Beginners

Good point, Dave — Dave I've just re-read Chapters 6 & 7 of Mark Douglas' classic Trading in the Zone. I should point out that the book was written some years back, and technology has doubtless changed the nature of the battlefield since then; ...

Intimidated by the Charts

Sorry, just my abstract sense of humor: your avatar's reference to the Rubicon reminded me of Julius Caesar! David

Axioms of trading

I can certainly relate to that! The idea that we can completely manage risk (using stoploss and position size) is true for an individual trade, but IMHO ultimately a myth, because we can't control the number of wins and losses, and hence bottom ...

Axioms of trading

"alea iacta est"? Sounds like a leap of faith for you, Blue, I wish you every success. On the one hand, I've read posts by people who are skeptical of automated systems, the primary reason being that they're not intelligent enough to adapt to ...

Axioms of trading

Hi Kiwi06 It seems that for many traders: Method: Setup and entry Money: Money Mgmt = Risk Mgmt = a function of both position size and stoploss (exit); includes scaling in/out, if applicable Mind: Trade Mgmt = mainly concerns ability/inability to ...

Money, Risk, Trade Managment ?????

Thanks, Halifax Yes, the underlying fundamentals play a big part in determining the trends; fundamentals generate “sentiment”; consequently, orders are placed determining price transacted; the resulting prices form patterns that (supposedly!) lend ...

Axioms of trading

Yes, definitely without any degree of certainty. As John Piper concludes in his book The Way To Trade (Financial Times professional, 1999, pp 35-36), "In my view the only fact that can be stated about markets is as follows: Markets move from extreme ...

Axioms of trading

Gifog, thanks for bringing this to our attention. Spindrift, I've checked the code and I think this is caused by the NewsCapture file being opened conditionally: if (buildNewsCSV) but being closed unconditionally. Hence, if the condition is not ...

FFcal - Plot News indicator

Nice post, Daemien — Hi Daemien Very thoughtful and comprehensive summary, IMHO. Here are my thoughts (basically in total agreement). The shorter the turnaround time: More frequent compounding (accelerates progress toward either ...

Day Trading vs. Swing Trading vs. Position Trading

I have also experienced this — My MT4 broker (WSD, based in New Zealand, where I live) also uses 5 decimal places for all pairs, except those involving the JPY, which have been extended to 3 decimal places. The extra digit certainly takes some ...

Weird Plobrem.. be careful

Two further points for consideration — Two further points for consideration: 1. When traders talk about R:R, they’re referring to the time of entry. But R:R changes dynamically as the trade progresses, the further price moves from the entry ...

Problem with Risk:Reward

Scott, I wouldn't dare ask for their identity or trading method, but are you able to disclose whether these folk are scalpers, swing, position or hedge/carry traders; use predominantly TA or FA; and what size account it's necessary to trade, in ...

Who has become rich trading forex?

Thanks, Mason — Mason, thanks again for all of your time and effort. Sorry that my reply is belated. I’m afraid that the recent posts here somehow passed me by; the FF forum moves so fast, that the thread was onto page 2 before I rediscovered ...

NEW!! - Candle Aggregation indicator

Believe me, I do understand where you're coming from, but I can not afford to allow psychology to make an extremely difficult task (finding a profitable method of timing entries and exits) even more so. If successful trading is 95% psychology (as ...

90% of traders lose money! True or False?

Fibonacci ratios Fib ratios are based on dividing successive numbers in the sequence 1,1,2,3,5,8,13,21,34,55,89,144,233,377,... where each term is the sum of the previous two terms. Critical Fib ratios are obtained by dividing any term by a near ...

What is/are the difference between "fib" and "pivot" in finding R/S?

Clockwork, another excellent post, IMHO. So why do more than 90% of traders fail? Apart from poor money management (e.g. oversizing positions), and psychological elements (e.g. overtrading, revenge trading), there may be other reasons. Here are two ...

90% of traders lose money! True or False?

See this thread: url for info on Crown Forex, and links to independent broker reviews. Also, keep in mind that many brokers operate their live accounts very differently to their demo accounts, in terms of spreads, fills, stoploss tripping, etc. No ...

Crown Forex

Excellent post — Clockwork71 - excellent post - my responses, for whatever they're worth, in blue typeface. Perfectionism drives us down a path toward the futile quest for the "holy grail", and has arguably been my personal biggest enemy to ...

If I knew then what I know now

Have to admit that I'm undecided about the predictive value of Fibos, pivot lines, Gann grids and the like. There are so many ways that these lines can be drawn. We can choose a variety of swing highs/lows on any number of timeframes around which to ...

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