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Sorry, I forgot to answer your question. I tried to edit my post, but there's something wrong with my browser and it wasn't working. Anyway, I do look for divergences, but I may or may not play them. I try and get a general idea of things, and go from there. If that involves playing the...

Ironically enough, I prefer the fundamental approach. I've only become interested in trading and technical analysis over the past few months. I'm still more of a long-term investor, but I don't have enough money to devote to any one stock position to make it worthwhile (in my eyes). I've...

To be honest, I don't know that there's anything inherently wrong with indicators; I think it's really in how you use them. As long as you're of the mindset that you won't be right all the time, and that's okay, I think indicators are fine. Personally, I know myself. I'm not experienced...

I don't have any absolute faith in indicators, because they're just that: indicators. They can (key word, in my opinion) give you various clues as to where things are heading but it's up to you to put the pieces together. I know I haven't discovered the Holy Grail, because that's simply...

No fundamental reason, but I like the way the chart looks. Primarily, the MACD, slow stochastics, and DMI are painting a decent picture. I've found that when those three are lining up, it could make for a good trade. As always, there are no guarantees and I don't really know what I'm talking...

Aww, jeez. Way to put me on the spot! :D I really have no way of quantifying which are the best, but I'll toss out a few that I was looking at. There's always a chance that the bulk of the move has already been made from the time I jotted down my notes and now, but: short EUR/USD...

Phew. Things are really bookin'! I don't have any positions on because I had a few things to take care of, and I'm not sure I want to enter any positions now; that whole fear of coming in too late is rearing its ugly head. Oh well. There are TONS of great trades out there; by the looks of...

I do, but what period depends on the time frame of chart I'm looking at. On the hourly grouping of charts, I'll usually use a 20 EMA and a 50EMA; I may toss in a 10 EMA but there's really no significance behind the moving averages; they're really just to give me an idea of where things are...

Well, I actually prefer trading off the daily chart, but I find I sacrifice too much profit potential. Basically, I use the 4hr chart for an idea of the bigger picture: I try and find the trend and get an idea as to the health of the trend. I've found the three indicators (slow stoch...

Baruch, I trade it the way I trade all pairs: I look for reversals to get in early, or an unfolding trend to jump in on; I guess it's no different than anyone else. Truth be told, I prefer the reversals because I'm more of a contrarian by nature, and I always feel like I've missed most of...

Nice trade on eur/usd, rax. I managed to get into a trade on the cable; closed with ~100 pip profit. Should have been closer to 150 but what you can do. GBP/JPY was the big overnight winner (for me, at least): closed with 220. I gave away a decent amount in both, but I was sleeping; not much...

A few things re. Buffet: The other primary reason he never went into tech companies is because that's beyond his circle of confidence. He tends to make it a point to only invest in companies that he understands. He believes that if you don't understand where the company's revenue is coming...

In some ways, I suppose it would; however, the greeks provide an insight that a graph doesn't provide (at least to me): The greeks show you where the real risk is in a position; they may not necessarily be as important in basic, straight-forward strategies, but as you move into more complex...

I didn't really make any trades today. I'm more of a position trader ala random trader; I use different indicators, but the same idea. Open profit is sitting at right around $1k today (I'm only using 10000 unit lots - trying to keep it relatively realistic). I'm sitting on a few real nice...

I had an excellent day. :D Or, I would have if it were real money. Doh! :cool: Steve

Baruch, I just wanted to say "thanks" for the journal. Between your comments and the rest of the conversation, I've learned a lot. I'm just paper trading Forex and I'm doing pretty well, though my "system" is actually closer to random trader's than yours. Anyway, thanks and keep up the...

I agree. I've been hesitant about registering and posting, but I was more comfortable with the atmosphere in the options forum. I get the feeling I could ask the questions I have, and I'd have a pretty good chance at getting a straight-forward, honest answer.

Thanks for the input, guys. I appreciate it. Steve

Hi all, First, I'm new to options; I've been reading/studying for a few months. While I'm not exactly proficient with everything I've studied, I think I have a decent grasp on the basics, and luckily, I picked up on the importance of playing (preying :D ) on volatility early on in my...