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Every morning provided there is NO major reports do at 8:30 I take the first setup i can see. If there's a 8:30 report i still "may" take the first set up BUT i will exit before the report. Here is an example from last week. <IMG SRC=http://charts.dacharts.com/2006-12-18/Joab39.png>...

Meph, Don't get me wrong, the EURUSD works just fine but just stick to the perameters i mentioned and you will be very happy.

I trade the 5m FTT EURUSD spot and I will warn you to stay OUT during reports and only either trade the US open or the London open for the first 3-4 hours.

Job 28:28 'The fear of the Lord—that is wisdom, and to shun evil is understanding.' "

As a member of the chat room I verify this to be 100% accurate and true. Gerry IF your serious about learning then pend sometime in the room, it will do you good.

gooch87 I hope you don't mind the compliment BUT everyone that reads this thread should STUDY this guy and HOW he has built several IF/THEN scenarios. Great job gooch and it's a pleasure to be in the company of all these great traders.

Ezzy, Great post and I'm going to add my 2 cents to this topic. 1st cent: A good trader anticipates 2nd cent: A great trader anticipates 2 steps beyond a good trader. Stop being so afraid to be wrong people (it's ok) this is trading NOT rocket science. :D

Ok, it's fed day and I'm bored ... repeat your question please.

gerry, I'm sure your a very nice fellow but you might want to take your head out of your arse because your missing the point and the air is fresher out here. The market is nothing but an auction and charts are nothing but your seat in the auction house and your perspective of the people and...

ok I will go and study a little harder so that when i grow up i can be a smart as you.:D I'm not disagreing with you but i am challenging you to refocus on what you might be missing.

This is ENTIRELY timeframe contextual and it's a stupid arguement and a waste of time and exactly the type of semantics gerry was trying to provoke. Now go and trade and make some $$$ :cool:

Bearbelly - sure I can and he's right about this, I can show you thousands of trades that you would have missed the boat on if you where only waiting for an ftt. Don't fall into his trap, that's NOT what this trade is all about. :)

You're not even close to "the power of the trade" but that's ok ... the more guys like you miss this trades potential ... the more money for guys like me... :D The ftt is a natural market phenomenon and therefor a tradeable unescapable edge that must always exist. I encourage you to...

Jack, As usual you find an already semantically challenged subject and challenge us some more to understand it .... :D :D :D :D nice article thanks for sharing:p

Michael, Do not even attempt the spot market outside of hours or it will crush you. The caveat to FTT trading is liquidity.

Sorry Michael but your not even in the same room, never mind the box :D

Something for next week perhaps ? <IMG SRC=http://charts.dacharts.com/2006-12-09/Joab15.png> http://charts.dacharts.com/2006-12-09/Joab15.png

:D Human nature forces us to do this and thus it's the same human nature that provokes fear, greed and the rest of the emotions that are destructive to traders but by working against those natural forces and embracing the unknown is where we can find growth and massive opportunity. :)

A quantifiable edge ONLY exists in an environment of CONTROLLED outcomes, ie: 52 cards in a deck, 35 slots on a roulette wheel etc, etc... Trading has infinite possibilities and therefor true edge only exists in perception. When you accept this fact you will understand HOW TO MAKE MONEY as...

Trading a.k.a. SPECULATION If trading were not gambling then NONE of us would make any money at all. Think about it for awhile. :cool: