So, risk 400 pips to make 10!!! IMO it seems that using such a strategy does not use the trading account very efficiently. Why have a 300-400 pip on-going draw down when you can have a closer stop loss and use your account for potentially more ...

Trading without a stop loss!

Spain — The massive property boom and the current property crash have left much of the coast an over-developed building site. A huge environmental disaster. Don't get me started on their animal cruelty. With massive local and national ...

Best place in the world to trade from?

I agree. It boils down to how disciplined you are in the first place. You may want something and try very hard. But your subconscious mind is always looking for short cuts if you are not disciplined, and you may not be doing things properly. It ...

Giving Up

Simplicity not complexity — I agree, once you have an understanding of the market and developed some intuition you then have an aptitude to be flexible in the way you trade the various market conditions, and that's basically about being ...

Lessons by Joe Ross

Warning: Creativity = Distortion and Illusion — I think for the newcomer to trading, creativity is very dangerous indeed. Human's have a fantastic ability to make something very simple into something very complex. Indicaters are often used to ...

Lessons by Joe Ross

yes I agree, if only to know what the 'herd' are doing or use SR to filter the indicator's signal.

Exceptional day, will it continue ?

Pure Illusion — The problem with oscillators, MA's etc is that they do not recognise ongoing supply and demand relationship at work every second at every price level. They are simple math calculations derived from price. Most are averages of ...

Exceptional day, will it continue ?

EA — Sounds like it will be a nice bit of kit Mike. Although I am very sceptical about EA's over manual trading, I think it will benefit many traders who are still unsure about how to enter around SR levels and will reduce the emotional effect ...

Exceptional day, will it continue ?

Thanks Mike . Copi, pm sent.

Exceptional day, will it continue ?

I hear a lot about 'the journey' and I wonder how many new traders go through the same journey. I entered the forex world via people such as Peter Bain. He introduced me to the world of indicators etc but it left the essentials out such as how the ...

Giving Up

When a market trends nicely like this, I use this wall idea (which is basically support for longs and resistance for shorts - its where the big boys have their orders stacked up waiting to be triggered), by entering as price reverses back to those ...

Exceptional day, will it continue ?

I don't know the percentage of what type of trading vehicules use the forex for transactions but my guess is that the bulk of it is speculation namely the large financial institutions. Companies would not do well to trade in such a way that their ...

Giving Up

This is exactly the right approach IMO. The markets are about demand and supply, this is basic economics why should it be any different to the forex markets!? Demand = Support and Supply = Resistance. Understanding this and using multiple time ...

Giving Up

SR — Hi Dan, Go to BRV's No Brainer Trades... thread on FF (also look for posts by Ironman), BRV has a very good blog site also with videos and also Clockwork's silent service method (also has a blog site with video and audio content). This is ...

Exceptional day, will it continue ?

Yep I am with you on this. There is no other way. Indicators lag and with lag means greater risk and lower probability trade setups. An indicator to scan charts for a set-up that is based on non lagging techiniques -nothing wrong with that.

Exceptional day, will it continue ?

Jimmy, I have been there and you'll soon realise that most, if not 95% (now there's a familiar figure!) of all trading books and forex courses are an absolute load of bull crap. Humans have a fantastic tendency to complicate things and reinvent the ...

Giving Up

I second that. You really do need to step back and ask yourself some questions: are you following your trading plan? If not why not? Are you recording your trades their setups and conditions? How could your entries/exits be improved? Are you trading ...

Giving Up

ok, I am trying to guess what the set-up is judging by what you said in the first post about price action based trading (no indicators - which is the only way to trade IMHO). I would have said Pivot levels given the lines on the chart or possibly SR ...

Exceptional day, will it continue ?

impressive — Hi Mike, how did it perform on gbpusd on 8th July? Any chance you could explain the set up it scans for on each time frame? Thanks

Exceptional day, will it continue ?

It looks fascinating. Look forward to seeing it.

Exceptional day, will it continue ?