I don't think those limits will be filled anytime soon. I originally wanted to use one large order to buy gbpusd at 9560 but it would never have been filled. I suppose there's a lesson to be learnt here by new traders - scaling into a dip, like the ...

No Rules Trading

From the Cable Update (GBPUSD) thread: Before I read this post/news I was looking at mid 3400 as a good place to take off a large part of my usd shorts. This just supports that idea.

No Rules Trading

The FOMC was definitely the catalyst but I'm not so sure this move was technical/temporary. I keep getting the feeling that something is going on in the market that I (we) don't know about yet.

FOMC Statement

How is that sentence in any way dovish? I think you'd need to get very abstract to find something dovish in this statement.

FOMC Statement

A quick update on my positions. The eurgbp stop has been tightened up to 6815 and my usdcad stops have been moved to just in-the-money at 1585. My gbpusd scaling entry only got filled on one-third. So that leaves me with a 1:1 position at an average ...

No Rules Trading

Today was a real case of sell the news. The dollar has been losing ground for a few weeks now but I still don't see an apparent reason for it. The eurusd is at 2 year highs and my large usdcad short is going well. The time for profit taking might be ...

No Rules Trading

It's a case of sell the news I guess.

FOMC Statement

I've always wondered how accurate these kind of reports are... Where did you get this? From FXCM (IFR)?

Cable Update (GBPUSD)

I'm sorry for that. It kinda burst out of me. No problem hey! Glad I could help.

Is high leverage really bad for traders?

I'm glad someone is thinking about this. I've tested and thought about this for a while now. Is it: A - Better to have a high winning% with a lower r/r or B - Better to have a low winning% with a higher r/r? The answer to me seems rooted in the ...

Is a great % of wins better than more pips ?

Cable look's to me like it's just catching it's breath; ping-ponging up anytime it gets below 9580.

Cable Update (GBPUSD)

Yeah, I know what you mean. I've been reading over some opinions on the FOMC meeting today and there seems to be general consensus that a cut is priced in sometime this year. Now if they come out telling us that they are still looking at inflation ...

No Rules Trading

Really well thought out post.

FX News Trading For The Week Of 3/19

If you're sitting at the screen and press the sell button to execute immediately, that's a market order (short for at market). Stop and limit orders don't get executed straight away - the market has to reach those specified prices first.

Difference between buy/sell stops & buy/sell limits

Technically I think that cable below 9500 is not a good sign and my charts show that the 250 EMA is at 9475. At the moment I wouldn't be comfortable buying that low. The market's reaction to news has been creepy? What do you mean exactly?

No Rules Trading

The usdcad rate has just dropped below 1600 on worse than expected retail sales numbers. It's just shouting "short me!". It's an old idea but a market that inversely responds to news is usually telling you something. It seems that even after ...

No Rules Trading

I see a 7-2 vote was expected; that would imply a 8-1 vote for a no change is bearish for gbpusd. I was expecting some news to come out in favour of the dollar - I'm just going to be fading it. It's all about FOMC tonight.

No Rules Trading

Thanks for the props . Don't hesitate to tell me what you think.

No Rules Trading

I've moved my stop higher on this one to 93.50. I'm expecting a breakout on usdjpy, probably north since the SnP broke important levels yesterday and ended the session strongly. I'm just holding onto my other trades for now although I got rid of my ...

No Rules Trading

No, that's margin utilisation. You are using $100 of your margin to control $10 000 at a utilisation rate of 1:100. The above would mean nothing unless it is linked to your account balance. If your account balance is $10 000, that same mini-lot ...

Is high leverage really bad for traders?