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It's a given that there is no consolidated tape in forex, but does anyone here have any experience in trying to approximate tape reading in forex through volume, open interest.? I would be grateful to hear of your experiences or opinion on possibilities/limitations of tape reading in forex...

market just seems to want to stay within that channel for a while.

On MetaTrader was stopped out, bid went to 0.7713, futuresoure bid went to 0.7714, and would you believe it, finspreads trading 2 pips higher than metatrader so just stayed in with one pip to go. In theory I know I should be out on this one so if it makes it to my target it will taste that...

ok let's try again. long aud/usd 0.7733, stop 0.7714, target 0.7777

imbiber, Kastro, I've been playing with MetaTrader and I really like it...pretty much does anything I would want it to. I'm very happy with it. Thanks again!

thanks for your suggestions guys, I will try them out.

short @ 0.7722, stop 0.7748, target 0.7610

Hi, I was using an OANDA demo account for the charts and they are mostly adequate for my needs. However, the fact that they use a differrent daily close and open from everyone else means that for me the charts in the daily timeframe are useless and misleading. Can anyone suggest a free...

Spectra, I don't want to make him feel bad either...so no. I was easily as bad (more likely far worse) at one point.

I wouldn't say he is a nutjob, but he needs a reality check. He said in the video that the reason he is losing is that he is not trading big enough and has resolved to increase his size, so that he can scale in and out of a trade. He needs to trade as small as possible until he can...

I found him again on youtube ... this is even worse! Funny though ... http://www.youtube.com/watch?v=878J7dn2Kfg&mode=related&search= If you can see any similarities between your thinking and this guy's then you know you have a problem

Everyone has heard that 90% of retail traders are losers. That's an interesting statistic but what I would like to know is how does that number change if you consider number of years trading. Could it be that a large chunk of that 90% is made up from novice traders that blow up within 6...

Sorry I should have added that I was talking about a reversal on the hourly chart. This reversal was most prominent on the AUD/USD and GBP/USD charts. I expect it to show up the daily as well.

Looks like that just changed! Trend has reversed. Time to short the dollar I would say.

I used to be part of the 90% that constantly payed out to better traders. Looking back, I know absolutely that I lost money out of my incompetence ... ie. misusing indicators, trying to trade off short time frames without consideration of a larger time frame ... etc I could go on all day. I...

Chood, I admire your threshold for pain ;) I'm getting back in ... purely from a technical point. On daily chart area of (hopefully) good support 0.7765 to 0.7780. Flag pattern formed right on the area (just like eur/usd) and my money is on a break to the upside. If the price breaks...

I know what you mean, the descent to the current levels have been fast and furious. Can't help but think that the selloff was overdone.

Anyone else in a long position here?

manyit, you are right. I'm hoping that support around 1.2980 on daily chart will hold up. If we break below this flag on the hourly chart I'm out.

I expect the 1.3000 to be a good area of support ... going long. Interested to hear if any others agree/disagree.