Also if you are aiming for 20 pips profit your stop loss should be about 10 pips max. You will always get stopped out.

Support and Resistance Method - Pharley

When you have a run of bad luck you will lose a lot of money if you are trading high volume.

Support and Resistance Method - Pharley

Could be a good buy.

Support and Resistance Method - Pharley

Just thought about my last post again. I think you need 4 entries for a guaranteed profit but you can break even after the 3rd.

Support and Resistance Method - Pharley

Hope you don't mind me answering with my suggestion - I am no expert.... But your target is 90%, that doesnt mean that you need to reach 90% to make a profit as long as you move your SL up to the next support level after each retrace. If you manage ...

Support and Resistance Method - Pharley

Also on the web site that I posted above there is heaps of brilliant articles and current trade setup ideas based on S/R which are nearly always profitable.

Support and Resistance Method - Pharley

Hello all, Pharley - great thread. I've been trading for a few months and was initially really successful for a newbie but then I got caught up with all sorts of indicators and smaller time frames and everything went to rat sh$t. Now i'm back to ...

Support and Resistance Method - Pharley

Thanks for the explanation. I don't quite get it but I will do a bit of research to help me understand.

USD/CAD

AkMaLiTo, Correct me if I am wrong but I would class the Stochastic divergence as bearish as it is making lower highs and lows while PA is making higher highs and lows. In my opinion this adds to the Bearish argument that the trend may be about to ...

USD/CAD

Let the dust settle I guess

EURUSD

They did cut! -0.25.

EURUSD

And the current price action says you were right!!

NZD/USD

Oh I see. Well it looks good to me! If you ever learn to code I think you could make a brilliant indicator with your idea.

NZD/USD

AkMaLiTo, can you tell me where i can get that Harmonic Pattern Indicator from? It looks much better than anyb that I have come accross.

NZD/USD

Was it something i said? Lol. Oh well in case anyone is interested I made over £800 overall on the above trades and decided to close at that point. Pity it was only a demo account. Does anyone know if there is an Ea that will execute something ...

How to trade NFP/FOMC and make pips

I decided to try this and had very good results. First I checked the USDX and seen that it had found support and was starting to retrace. So as stated above I bought the USDXXX pairs ond sold the XXXUSD pairs. I also placed the 2 x Sell/buy orders ...

How to trade NFP/FOMC and make pips

Used this EA for tonight FOMC on 3 demo accounts. Hit Fire buy on 2 and fire sell on 1. Ended up between £150 and £200 down on all 3 accounts. Just a thought - Any thoughts on an similar EA but adapted in the following way - Fire buy = buy USDXXX ...

How to trade NFP/FOMC and make pips