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This is my trade for the day. I just went short eur/usd @5611 with a tight stop @5640 with target price @5495. If stopped out, i'll reset the trade @5660. If price hit 5685 i'll reformulate the plan and look for long opportunites.

I see an opportunity shaping up in the Eur/Usd for a short term trade, however the charts are a little to muddy for my taste at the moment.....GGGRRRrrrr I must be patient and wait for the setup.....just in case of a retest of support......i'll post my trade upon my system confirmation.

NeoRio1, I hope you have a good system that you stay disciplined to and that you know what your historical losing streaks are. In theory, it sounds great but extremely hard to pull off at the leverage you are saying. Don't get me wrong, I am a high leverage trader myself and you must have the...

There will be another attempt higher in my opinion in about a week or two. Oil is helping the dollar and the financials are at a false bottom in my opinion. The compounding losses of consumer debt has not hit the financials at this time. Car repossesions in the U.S. are going up as well as...

So true cabletrader, that is why it is very important to know how long your system losing streaks are. These are the little things experienced traders know. And I know you already know that. Discipline is key in knowing your true numbers, numbers you can depend on and be confident trading in...

I agree syspool, stoch & cci are the most reliable indicators for trend changes identification. I am glad to see someone else with an 80% success rate with those indicators. Using the macd in conjunction with fibonacci helps some or atleast helps with tighting stops on getting caught in...

Try your strategy using the 60 min chart for trend identification and the 15min chart for entry exit signals and confirmation. Based on your indicators you should get larger gains and drop a few percentage points on your losers. Before you trade this, compare both chart set ups and get back to...

Interesting post, I am at the final stages of developing a system using higher leverage with tight stops. Stops being 15-25 pips tops risking no more than 7.5% of account balance in any one trade. Has anyone effectively used a higher leverage-tight stop system profitably over time? 1-5% is...

Hey Johnny, you're welcome. I suggest trying different dealers, platforms and charting packages on demo accounts. Use the one that you like the best and feel most comfortable with when you decide to trade live. I will be the last one to tell you what you should do because when it is said and...

It seems that way. Johnny will be okay, he just have to go through the PROCESS. Since this thread was about him and what he should do, it's best if we stay on topic, atleast on this thread. I learned the hard way, lots of mistakes and money lost. However, for me that was the best way to...

My bad Cabletrader, I swung my D..k in the wrong direction, it should of been at Central Park. Just re-read the post to confirm the response. Cabletrader, i've read a few of your responses from other post and you are one of a few that gets the whole picture of trading and not bits and pieces...

Hey cabletrader, I am not going to get in a pissing match with you, but #6 on my list I posted was know your broker!!! And I not only agree but its fact that brokers go stop hunting, period point blank whoop there it is!!! You just better be hunting with them when it happens because they have...

By the way Johnny, there are no short cuts, so don't waste your time or ours by looking and asking for one!!!

Alright Johnny, I am going to be honest with you from my perspective. I am sure you got the message that most people here that responded to your thread is still at the beginning stages of trading currency....ie. loosing money consistantly and blaming everyone but themselves. The broker taking...

1Reason, there is a slowdown in imports. My best friends owns a brokerage clearing company of imports/exports. According to him, there is a huge slowdown of freight being cleared through customs off the ships in Los Angeles. This has being going on strong for about a month and a half now. At...

I really enjoyed reading your journal, actually spent the last hour reading this year and last year journals of yours. Like yourself, I am a currency trader currently concentrating on the eur/usd pair. Reading your journal as you go through the PROCESS of becoming a long term successful trader...

Tell your love ones and friends that you are training to become a currency analyst to take advantage of market conditions based on a country's economic condition for profit.

You have a trading idea, not a trading system. A trading system has set rules which includes entry/exit signals which gives you a sound risk reward, probability ratio and expectancy ratio to your trading. Honestly, trading is more of an art than a science. Your system should be able to flow...

A trend is a trend until it is not a trend my friend. At this point I believe it is a pullback until the pair tells me otherwise. Both the euro and us economies are struggling and the interest rate differential is in favor of the euro at this time. When the US starts increasing the rates is...

A trend is a trend until it is not a trend. Even in a ranging market it is either trending up to resistance or trending down to support. I learned the hard way, it is better to go with the market than trying to predict the market. Once one learns him/herself and take what the market gives...