I took that one too. I don't think there's a problem with picking the level though. Price did get pushed back at first.

B.S. Trading with Kenneth Lee

I think the last time someone actually gave a voucher to someone asking for one they had all theirs removed haha.

At What Point Do You Give Up On Forex

Since you've been watching the Dollar/Yen I thought I'd ask what you think about that small supply zone marked in red just above current PA. Something doesn't feel right about that one to me but I can't put my finger on it. Maybe it's because it's ...

B.S. Trading with Kenneth Lee

If you're using Trade Station II, did you try closing the tab and re-opening it? Occasionally when my internet connection starts having trouble some of my charts will stop trying to load after failing a certain number of times but not indicate it, ...

FXCM Discussion

Thanks for the clarification. It doesn't seem like it would be worth risking missing the entry for the cost of the spread personally.

Should I use bid/offer orders (spread free) over limit orders?

Friday evenings liquidity is dying off as the major banks brokers work with close for the weekend and on Sunday evening the same story as they slowly come back for the work week. When large orders are placed that liquidity is strained and so the ...

FXCM Discussion

Certainly the bid and ask price at any point in time is still different, right?

Should I use bid/offer orders (spread free) over limit orders?

Just goes to show that the voucher system is messed up. I enjoy receiving them as much as the next guy, especially from those I myself respect as knowledgeable traders but there are a large majority of 10+ that I'm certain have no clue what they're ...

At What Point Do You Give Up On Forex

As long as you can handle the drawdowns it's no big deal. I like to think in terms of R more than I do %, because the percent really only becomes an issue if you have long streaks of losers. I look forward to observing your progress over the next ...

jwpdad's Journal

This I agree with. This I don't. Maybe you won't be able to lead a super flamboyant lifestyle without a lot of cash in hand but you don't need that much money to have a decent living. And quite frankly I think the returns for small traders and large ...

At What Point Do You Give Up On Forex

You're kidding, right? I could go on a rant about these frauds but I'll keep it short. First, if the signals provided by signal services are so accurate, why aren't the services just trading it for themselves instead of selling it to you for ...

Which broker to trade with - investing $1000

I do notice now losses around 10%. That is pretty high risk.

jwpdad's Journal

I'm not a fan of Ichimoku but those are some crazy returns! In my quick glance I didn't see any indications of irresponsible money management either. Congrats!

jwpdad's Journal

Always glad to help Chicky.

Are exits just guesswork?

I'm using the 30 minute, which Kenneth Lee does as well but others who use this type of supply/demand trading like Phanti prefer hourly or 4H. I don't trust daily too much though as this is based mostly on market microstructure.

Are exits just guesswork?

We do it differently; I set an entry limit, a stop limit, and a target limit well before price gets to the level I'm entering at. But whatever works for you as long as you're profitable, just different approaches. Attached is an example for one ...

Are exits just guesswork?

Sounds like the law of averages being played. Once you identify a potential turning point though you should look for a place that you would reasonably expect price to be able to reach before another turn. When I calculate my r/r I find the ...

Are exits just guesswork?

The fallacy with IQ is that while many believe that it is the measure of one's intelligence, it only measures logical intelligence and ignores other types as have been documented by education researchers and psychologists. Ironically many who have ...

The 3 Elements of a Successful Trader

No need to get all upset, he did apologize for his wording. I like both of your contributions and would like to see more of them without one person feeling alienated.

At What Point Do You Give Up On Forex

Chicky, r/r is supposed to be calculated ahead of time, not after the fact. There should be some logic as to why you're exiting, and "I met my quota" isn't really something I've been all that impressed with for a rationale. The price levels idea ...

Are exits just guesswork?