That's exactly my plan. I've taken this trade entirely on it's own criteria - it has nothing to do with my other positions as far as my market view goes. The fact that it fits in with my view for higher yen crosses is co-incidental, but nice. It's ...

No Rules Trading

Soso_beton from moneytec? Good to see guys from there are posting here. Hope to be reading more of your posts.

No Rules Trading

I've been watching usdjpy lately as it's just gone sideways during the recent run in the majors. It was trading in a band of 117 - 118 since Monday, and just broke above 118 this evening. This seems like a genuine volatility breakout so I'm going to ...

No Rules Trading

Before the dollar rally this evening I went long on both EU and GU - I was a little early on that. I did however get some good entries on both during the dollar rally. The low on my Oanda charts was 9616 (ask) and I got an entry at 9626 at 1:2. My ...

No Rules Trading

This is/was such a phony move! I bet so many people just had their trailing stops tripped. XAU is actually moving higher against the dollar. By the time London rolls around we'll be back to above 9650. This was a good washout so we can move higher ...

Cable Update (GBPUSD)

Watch out! The market is coming after stops; seems like everybody is holding long into tomorrow. I'm taking a bit of a drawdown right now (down 5% on my open equity) but I'm also taking this as a chance to get one last add in before an expected move ...

No Rules Trading

Thanks for taking time to read it. Keeping it updated takes time and effort so I appreciate any feedback.

No Rules Trading

I'm using Oanda as my broker and these are just screenshots from the charts they provide. I also use Metatrader charts.

No Rules Trading

I agree, you would need experience to trade like this. But no-one has a corner what the right way is to make money in the market. In an uncertain environment there are no absolutes.

No Rules Trading

I think this sideway market will last until NY tomorrow or even into next week (unlikely). The big traders are all waiting for someone else to make a move. It looks like there is just accumulation on dips right now. Any news might be a catalyst ...

Cable Update (GBPUSD)

Thanks hey I'm starting to wonder how much of a decline we'll see from the mid 3400's. 3300 seems like a good place to cover shorts and start building up some longs again. Just as a fun trade (and I might have lacked a little discipline ...

No Rules Trading

I'm posting 3 hour charts from Oanda and I look at 4 hour charts on MT. So my typical trade lasts a few days to a few weeks. I was looking to take in most of my trades on a move higher tomorrow. But I haven't made any concrete decisions - I'll be ...

No Rules Trading

I've also got a large eurusd long with an ave. price of 3264 and stops scattered at 3300/3285/3270. I just entered more on this dip as you can see on the chart. Like I said mid 3400 is where I will start to take in some of my trades. As an aside, I ...

No Rules Trading

Here's the chart for the eurgbp short I've been playing since Tuesday's UK inflation data. I've just added another short which moves the ave. price to 6795 with stops sitting at 6810/05. I've got 1:9 leverage going into this trade and with the ...

No Rules Trading

So far it seems Bernanke's speech isn't that much of an effect on the market. I've sold of my nzdusd longs at 7120 just to get my exposure a bit lower. My usdcad shorts got stopped out at 1585 but I'm not too fazed since I'd like to concentrate on ...

No Rules Trading

It's definetly a personal choice but the answer to the question is way more subjective than what you think; what is a happy medium? To you a high r/r might be 1:5 but to me a high r/r is 1:20. Conversely a low r/r for you might be 1:0.1 and for ...

Is a great % of wins better than more pips ?

If you want to sell at a higher price it would be a limit sell order, by definition. Any sell order above the current price is a limit order, because that's the definition of a limit sell order. Any sell order below the current price is a stop sell ...

Difference between buy/sell stops & buy/sell limits

You may have a point Merlin but I have to agree with PipStar, it seems to me they're really scraping the bottom of the peanut butter jar to find something to explain the move. Then again I'm not really an expert in Fed-speak. :

FOMC Statement

That's not what I'm saying at all. All that matters is how much money is in the account. Not in the cookie jar, not anywhere else. Just in the account which you have used to make that trade and in which the trading p/l will be reflected. To quote ...

Is high leverage really bad for traders?

I'm still learning that one and I've been at it for a while. It's also about discipline, discipline, discipline...

Cable Update (GBPUSD)