Well there ya go! Why worry about why the market moved then? By the way, I have an e-book called Zen in the Markets that I think many of you would find very influential. It's only about 60 pages and can be read in an hour. The author grants ...

Random Price Movement

I'm going to go Zen on you....Lao Tzu, a 6th century BC philosopher said "Those who have knowledge, don't predict. Those who predict, don't have knowledge." Wise words that stand true 2600 years later. Buy Bulkowski's book if you want to see the ...

Random Price Movement

That is 100%, without a doubt, absolutely the point I'm trying to make. I'm not saying the market is totally random. But if you click that "flip coin" button a few times you can make every pattern you've ever been taught. The point is to stop ...

Random Price Movement

Sister, I'm not hear to make you believe. (Bad joke but I thought is was funny). The EURUSD is at the same level now as it was in October, 2004. Where's the dollar strength that you speak of? This isn't about supply and demand. Of course, people buy ...

Random Price Movement

ISO, Both of those books are excellent and have been very influential on my development as a trader. Great suggestions. The article you suggested is right on the money and suggests that much of what has been discussed here is valid. An interesting ...

Random Price Movement

boycie, Thanks for your compliment. All I can hope for is for someone to stop and scratch their head and question if they are "good" or they just happen to be in the right place at the right time. As for posting, there is no admission test and some ...

Random Price Movement

McD This experiment is about as random as you can get. Can you provide your results that have lead you to conclude the market goes sideways 67% of the time? Also include the pairs you tested and the time frames you looked at. For the record, this is ...

Random Price Movement

Supply and demand is created by traders taking action on their beliefs. I think the question is whether their beleifs are correctly based on technical analysis or if there is a bit of randomness involved. I'm not out to change the world. It takes ...

Random Price Movement

For the record, I do believe in technical analysis. As stated earlier, we can still count on fear, greed, and a herd mentality. I guess my point is that some movement is purely random and a little luck doesn't hurt. I think when people say stuff ...

Random Price Movement

hemico, I wish that I had focused more on money management and less on technical analysis when I started trading. Money management is not sexy. Telling your buddies that you are right 80% will bring you a lot more praise. One thing I would caution ...

Random Price Movement

Your point is well made...I just can't figure out what side you are on. Trading success IS largely due to money management. Your system is just there to goose you and tell you when to enter the market. Phil

Random Price Movement

That was an absolutely fascinating explanation. Thanks for finding that.

Random Price Movement

Scott, It even retested the neckline...LOL

Random Price Movement

There is a fine line here. If you place a stop and you allow yourself to risk 3% (for example) then you're done. You've got no bullets left to fire. But, if you are in a choppy market and you risk 2% of your allowed 3% (same stop) and then you can ...

Random Price Movement

I got a Head and Shoulders pattern out or a random coin flip:

Random Price Movement

branac, Very well stated! The market isn't completely random. There is still fear, greed, and a herd mentality. But it also means that you shouldn't focus on every candle and search the internet to see why something moved 5 pips.

Random Price Movement

Since I want to be a good trader can you explain why the EURJPY went straight up over the last 18 hours? Yesterday's story isn't looking so hot any more.

Eur/Yen Drop to 149.15

The USDJPY is still 500 pips off of the December high. The USDJPY is a much more liquid pair than the EURJPY. When the BOJ manipulated a currency the USDJPY was at 102, not 116. And, they bought USD not Euros. Their intent was to prop up the dollar ...

Eur/Yen Drop to 149.15

I read trading in the zone about once every 6 months. I'm quite familiar with the text and with being wrong. My point is that there is enough internal pressure to do the right thing when you are in a trade. You don't need the added pressure of ...

Eur/Yen Drop to 149.15