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Short at 1.5987 with a break of the multiple timeframe T/L going back nearly 3 hours. Target is R1 at 1.5974. Stop at 1.5990 just above the T/L.

Ah I see! Now if we can just figure out how to reverse that (so that the stamp is 6 minutes earlier) then we don't need chart reading, just copy winning trades posted on the forum 6 minutes before they happen :D yoohoo, thanks for the clarification.

CFerret, how did you square the short from 69 at 45 when my chart shows that 45 wasn't reached until 6 minutes later? yoohoo, what exactly is the definition of a Key Reversal? Googling it came up with what looked like an engulfing pattern on candlesticks. But some of the K/Rs you have posted...

I figured as much. I found it really interesting to follow along as T/L were broken on one TF after another as the move developed. I've never watched the clock like this before, it's amazing to see the behavior of the market as traders from later timeframes make their moves.

I caught the short at 5932 and stopped out at 5889. I didn't recognize it was a double top though, still need a lot more education.

I want to see if I'm seeing the same things you guys are. I'm not sure if my PP is set up right, the price points look different to the chart yoohoo posted earlier. CFerret, refering back to your 3:44am post about the missed no-brainer long. On the 1 min chart I see a morning star formation...

yoohoo, thanks for the kind words. To expand on my last post... I've tried a variety of indicators in my attempts to learn to trade intraday off of charts alone. And I've come to the same conclusion you mentioned in a previous post, that they're too slow. Sometimes they pick out a good trend but...

yoohoo, my methodology is pretty simple. Oil has been going up so I've been buying oil stock calls! I also used to trade futures spreads based on historical price deviations (when the spread was unusually wide I bet that it would narrow) and I was pretty successful with that as well. My...

yoohoo, as a former position trader, can you offer advice on making the adjustment to smaller timeframes? I've done well with positions lasting weeks and months but with intraday I'm lucky to breakeven.

Totally fell apart today. 11 trades, 10 losses, and my account is down by over $1,000.

April 14, 2008 9:21am Short EUR/USD @1.5838 9:51am Closed @1.5844 Rationale 9/10 1 hour chart bounced off resistance 5 min chart had been trading below MA for 45 minutes 1 min chart bounced off middle BB Closed when loss exceeded 5 pips Psychology 3/10 I waited too long...

I agree with pivotas 100%. If you are successful with your first $10k (or your second, third etc.) you will need a plan for withdrawing profits to go along side your plan for increasing size. Too many people are successful trading small and then ramp it up and blow their account and have nothing...

I think it makes sense to use indicators that are popular with a large number of traders. Not to follow the crowd, but for you to know what the crowd is doing. I'm starting to believe that trading has nothing to do with predicting price movement and everything to do with understanding the...

It's funny that you mention that about the indicators being more like scenery. That's exactly how I feel this time around. Last time I tried Forex I was looking for a combination of indicators that could be followed mechanically. It took about a month for me to figure out that strictly following...

datamerc, are you running multiple monitors? If not, following 4 pairs in multiple timeframes must be hard.

Week of April 6-12 Summary Winning Trades 5 Losing Trades 1 P/L +39 pips

April 11, 2008 3:25am Long EUR/USD @1.5824 3:46am Closed @1.5840 Rationale: 10/10 1 hour showed good uptrend with plenty of room 5 min more upward confirmation from MA and MACD showed a decline in overbought situation offering an entry point 1 minute closed above the middle BB...

April 10, 2008 9:11am Short EUR/USD @1.5854 9:24am Close @1.5844 Rationale: 9/10 1 hour chart MA was flat and price was right between PP and resistance 5 min chart bounced off MA to the downside 1 min chart broke through middle BB Closed when 1 min closed above middle BB...

April 9, 2008 10:17am Long EUR/USD @1.5762 10:39am Close @1.5769 Rationale: Rating 9/10 1 hour chart showed strong uptrend and 20 pip distance to resistance 5 min chart showed consistent trading above the MA since 8am 1 min chart broke through middle BB for entry point I...

April 8, 2008 8:52pm Short USD/JPY @102.55 10pm Close @102.49 Rationale: The 1 hour chart was pretty much a wash. The 5 min showed a possible overbought situation and hints at convergence. The 1 min had a solid 2 bar break through the middle and lower BB bands. I'll rate...