Hi PipGoddess Try it...you will be surprised how good it is. The key advantage is that you are not tempted to "hang on" to a losing trade....and therefore your drawdowns are minimised. However this is a "default" trade. It is NOT the prime strategy ...

GBPUSD

You are correct. (Sorry I was interrupted when I was posting that reply...I have just corrected the original).

GBPUSD

No. 1. You sell the GBP at 1.9500 2. It hits your stop at 1.9550 3. The market continues to 1.9600 (GBP is a little more volatile than Euro which is what I trade...so lets change 1.9600 to 1.9650) 4 At 1.9650, you place a Sell Stop order at 1.9550. ...

GBPUSD

Hi Bob, How do you know what the trend is? Determine and set your favoured time frame. 1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP. 2. If the graph on the chart ...

Is The Trend Really Your Friend?

Hi SilverB, 1. I agree with what you are saying but some people here seem to want to bet on every tic. The thing that kills new traders is the "wild punting" on everything that moves two ticks. 2. A much wiser man than me once told me to stop ...

Is The Trend Really Your Friend?

stefant, EXCELLENT ADVICE.

I Found my Problem!! (under trading)

PipGoddess, No. It is nothing to do with Martingale. It is simply a process to limit / minimise your drawdowns if the market goes against you. Also, it will put you back into the market when the trend is going in the right direction. More ...

GBPUSD

The Forexmarkets are arguably the most "trendy" market there is, especially the Euro. Once a trend is in place, it takes a lot of power to reverse it. Take a look at the weekly charts. This current "long" started back in early Dec 2005 at approx ...

Is The Trend Really Your Friend?

Hi rosso832, I agree with all that you say above. How do you know what the trend is? Set your favoured time frame. 1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP. 2. ...

Is The Trend Really Your Friend?

Hi GirlFlyer, Sorry, I just realised That I had mixed you up with PipGoddess (see post 98 above) Too few ladies here, one too many silly old guys (me).

GBPUSD

Hi GirlFlyer, Just out of curiosity, was the "Jacko hedging method" of any assistance to you in your trading?

GBPUSD

Seems like I am the one with most experience (I am VERY old....LOL) That surprises me, I thought some of the bigger posters on this site would have had 10+ years experience (at least in stocks, bond, options, and`futures)

Your Trading Experience

I would post a journal here with live time trading and trade the EA here so everyone can see your results (but not your method). You must state each trade as you trade it, or alternatively, state your trades in advance. There must be NO "past the ...

What's next if you had a profitable EA?

1. General Motors is already basically "bust"...its bonds are junk bonds, its making massive losses and it is hugely in debt (mainly to its ex-employees via its overly generous redundancy deals). 2. China is already seriously considering buying ...

GBPUSD

Thanks for your kind words. I just like to keep an eye on the macro issues. I am a trend trader. I was long from 1.2500 to 1.3124. I then got out, then back in again 1.3200. (having said that, sometimes I "play" with some short term trades, but only ...

GBPUSD

piccolo, A strong US dollar means that US consumers can buy the cheaper Asian products more easily. A weak US dollar means that US consumers will pay more for products from China. The US wants China to "freefloat (the) Yuan" so that products from ...

GBPUSD

The hedge funds keep selling their USD and buying their yen/Euro/GBP etc every time there is the slightest rally in the USD to try to limit their losses. See post 48 above.

GBPUSD

No... China benefits from a strong dollar...it allows China to undercut western manufacturers. Also, over 70% of China's Trillion dollar reserves are in USD, so if the USD weakens, so does the value of its reserves. For every 0.01 Euro increase ...

GBPUSD

http://www.forexfactory.com/forexforum/showthread.php?p=132721#post132721

GBPUSD

Hi Bodge, I agree with you 100% The Forexmarkets are arguably the most "trendy" market there is, especially the Euro. Once a trend is in place, it takes a lot of power to reverse it. Take a look at the weekly charts. This current "long" started back ...

GBPUSD