I think LasVahGoose nailed it in the first reply. Essentially forex is just a game of probabilities. If you can recognise a situation in the market where there is a higher probability that x is going to happen then you will have an edge. Money ...

What Is An "Edge" IN Trading?

Well done! I was in the same trade, but came out with a little less for 350 pips. Can't complain at that though! Just wanted to say - I am looking at 1.3400 too; it looks like a good S/R area and it's about 50% of the last move down. I hadn't ...

Jacko's Forex House of Pleasure and Pain

26 March 2009 — Was unable to post this yesterday... Update: EUR/USD Buy (from 25th March) - closed at 1.3600 for +100 GBP/USD Buy (from 25th March) - closed at breakeven New positions: EUR/USD Sell @ 1.3600 Reson for switching bias to sell - ...

DanUK Simple EUR/USD Trading Journal 2009

25 March 2009 — Update: EUR/USD Buy (from 23rd March) - closed at breakeven GBP/USD Buy Pending GBP/USD @ 1.4400 (from 23rd March) - cancelled New positions: EUR/USD Buy @ 1.3500 (Stop moved to breakeven) GBP/USD Buy @ 1.4550 (Stopped out at ...

DanUK Simple EUR/USD Trading Journal 2009

Trades that shout! — Great example of what I meant yesterday about trades that shout out... EUR/CHF 5m - Shooting star formed piercing the 1.5300 psych level and closed lower, below the 34ema. Sold below at 1.5293 and closed out at 1.5273 (20 ...

Psych Levels, Pivots, and Trendlines - Resurrected

Yeah that's it - although I do like the candle to pierce the line normally, at times like this when you have a good formation not far from the line but with a bias in the direction of the trend; the 34ema acts as a good level to trade from. I just ...

Psych Levels, Pivots, and Trendlines - Resurrected

23 March 2009 — Buy EUR/USD @ 1.3500 Buy Pending GBP/USD @ 1.4400

DanUK Simple EUR/USD Trading Journal 2009

Nice one EV! I did eyeball that one but passed because of the congestion that you highlighted. Didn't think of taking the break below!

Psych Levels, Pivots, and Trendlines - Resurrected

USDCHF — Good afternoon all, sorry I've been a bit too busy to post anything lately but thought I would share this little trade. It's a buy on USD/CHF after the hammer above the 1.1250 and the daily pivot. Not an A trade for me (must be ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hi Howard, I primarily trade with the longer term / daily trend and I do still use the 77 cross with a 100 trail stop. I do however only use it as a guide to likely entry points inline with the current trend. I also use the monthly pivot point to ...

DanUK Simple EUR/USD Trading Journal 2009

20 March 2009 — Update... EUR/USD Long still open UPDATE: Closed @ 1.3600 for 800 pips GBP/USD Long @ 1.4460 (after 1 hour hammer closing above 1.4450) UPDATE: Closed at breakeven

DanUK Simple EUR/USD Trading Journal 2009

19 March 2009 — Dear Journal... I have been guilty of neglecting you again! I have spent a lot of time posting on another thread here at FF these last couple of weeks as I have gotten involved with a really good short term trading strategy and ...

DanUK Simple EUR/USD Trading Journal 2009

EV & Forex007 - Thanks for the explanation fellas!

Psych Levels, Pivots, and Trendlines - Resurrected

Nice one EV, I knew you would have got something out of that move! Great minds think alike... I initially took the bullish engulfing candle just above 1.4300 and closed out just above 1.4350 for a 1:2 trade. I then re-entered off of the hammer that ...

Psych Levels, Pivots, and Trendlines - Resurrected

Nice one! Bet you got a good R:R on that one! I didn't pay much attention to that pair before coming across this thread, now I find the swissy gives me a few nice opps! Got one here on AUD/USD 5m - nice bearish engulfing candle closing below the ...

Psych Levels, Pivots, and Trendlines - Resurrected

Yes I am interested in Cable too. That's my second pair that I trade longer term. I have been short Cable since 1.4150 so I drop to 3500 would be good for me! Short term I tend to keep me eyes on most of the majors (that Alpari offer)... USDCHF, ...

Psych Levels, Pivots, and Trendlines - Resurrected

5m USDCHF — All the waiting is worthwhile when you are kindly rewarded! Short after the bearish engulfing candle that closed below the 1.1750, S1 and EMAs. S2 was on the horizon but fortunately for me it didn't stop the trade and I managed to ...

Psych Levels, Pivots, and Trendlines - Resurrected

That's an interesting article. In my longer term trading I primarily trade EUR/USD and although I have been a bear pretty much all year so far, since the middle of last week I have been in the bull crowd! I tend not to try and predict where the ...

Psych Levels, Pivots, and Trendlines - Resurrected

Good morning all, Not seen many chances for a good trade so far today, keeping my eyes open though! Thank you for your kind words! As you have recently pointed out... Such an important bit of advice right there. Sadly most people seem to overlook ...

Psych Levels, Pivots, and Trendlines - Resurrected

Waiting for the perfect trade to come along is so important but so easily overlooked. Developing the discipline it takes to wait for that trade is very hard work but once learned it increases your chances of winning at this game immeasurably!

Psych Levels, Pivots, and Trendlines - Resurrected