Well, everyone is different, but I find after 10 years of trading that indicators are all worthless except for MACD divergence as a POSSIBLE indication of trend change. That's it.

USD/JPY Discussion

The entire point of risking a tiny percentage of your account is that you can withstand a losing period whereas you or your system become (for whatever reason) slightly out of sync with the markets. Also, so you can sleep at night and also so that ...

what's the purpose of an account, anyway?

Ah, the never-ending rookie quest for Holy grail indicator settings. Always amusing.

USD/JPY Discussion

COuple of quickies today. Still holding USD/CAD long and USD/JPY long. Took a few pips on long guppie, short EUR and long CHF this morn. EUR long +33 GBP/JPY long +27 USD/CHF long +9 I'd call them very short term swing trades.

Liz Does Forex

Next, a few EUR/USD highlights this week.

Liz Does Forex

Just thought I'd try and help myself with a few charts. First is my current open position in the loonie.

Liz Does Forex

Good luck to you as well. Looks like you are doing fantastically well thus far. I like your rules. Solid advice, especially position sizing according to the probability of the trade. People so oft don't use that to their advantage. -Liz

forexnoob101's journal

Long from here. Yeeha.

EURUSD

Yeah, 15M, despite divergence is trying to push. If it 8.10 breaks north, I'll probly take a long with a stop under 7.82 and see how she rolls.

USD/JPY Discussion

I'd say at this point, just bracket 5475 and 5525. Use em as opposing stops and let her ride for a bit.

EURUSD

I actually found it a breeze to trade this week. The swing trade was awesome. All a matter of reading candles and S/R breaks...geting out at consolidation on the 15m.

Cable Update (GBPUSD)

This is about the simplest and most succinct description of the necessities of successful trading I've seen. "Minimizing exposure" is oft overlooked, but trading small enough so that you can sleep at night does wonders for your equity. Mostly, these ...

Success stories

Yeah, I went to check one out last night. Gorgeous 2 seater for 145K. Prettiest car I ever saw.

EURUSD

0600 GMT

EURUSD

Dunno, but I think she's most likely on the downward path now, unless 5520 breaks north.

EURUSD

If she breaks below 5465, look out below. Still favoring short from here, but breaking above 5525 might negate that for the time being.

EURUSD

Def a decent short with tight stop at 108.15

USD/JPY Discussion

TRue. I've taken accounts from $300 to over $10,000 and back down. Learned lots of lessons. The key is MM and proper timing, with MM being number one and the most overlooked, which is why most fail. Persistence is crucial as well. -Liz

The secret for trading

I agree. Timing and MM. After 10 years of trading, I've found indicators to be a complete waste of time. S/R breaks and candlesticks are absolutely the way to go. When I see folks trying to prognosticate based on "key" numbers and indicators, it ...

The secret for trading