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Wise move by having the stop up close. Last nights test of the resistance upward sloped trendline failed. We are currently in a midst to a retrace to the intermediate support at 1.2490-1.2500. After this level look for a uptick for the next test of the resistance at 1.2580s. Many pips to you...

Lemme put it this way....the majority of guys on ET will not reach J.H. status. I doubt this goodboy is some hotshot supertrader ;) so lets not mix up our leagues here. Give the man some credit. He knows what he is doing. Some of his funds have kept making money for quite a few years. He has...

I was wondering: Would you rate the market conditions we had on EURUSD, USDCHF, GBPUSD to be a relatively "hard" market to trade and make profits from May 2005-Present? How does it compare to conditions seen during other time periods? I know "easy" and "hard" are relative questions...

I dont day trade (more of a positional trader). I do agree that you need to constantly monitor the markets due to the 24 hour nature of it and sudden news and factors affecting it. FX seems to be the new "in" thing in trading. Probably due to the fact that accounts are easy to open and...

Very nice saki. I think I will do some automation work on it to see if its viable.

If the markets can hold their own even after all this disruptions I would be cautiously bearish. It shows market strength and 9/10 times this is correct. I do hold some shorts however my directional longs outweigh them.

Loss of momentum, reversal of trend, trailing stop. Any of the above three. No positions today and possibly no positions tomorrow. Going to wait until all the high/low data on IBFX is fixed as it causes anomalies in the indicators used.

Thats right savant. I am looking into FXDD now which is one of the largest brokers in a bunch of markets in the world. Thats the problem with FX retail shops very bucketshop ish. Oh well. I seriously dont have a problem but when the spike and data problems are 500+ pip big that i cant live with.

Well I am miffed :mad: http://elitetrader.com/vb/showthread.php?s=&threadid=54002&perpage=6&pagenumber=8 Considering their ridiculous spike at the end of fridays trading. Over a 200 pip one in a 1 tick period as well as this. A change is necessary as their conditions and service erodes.

Okay IBFX is retarded. I am seriously considering a switching. Today most pairs showed gaps of over 200 pips-500 pips. One of my systems entered a long GBPUSD at 1.7840. Had a 540+ pip profit due to the mispricing. Of course inter-bucketshop-fx decided that they wont honor any profits made due...

SO what are you?

Typical stop lies around 70-90 pips with a trailing stop based upon pairs in place. This is for both of the systems. Keep in mind I have exit criteria in place which often gets me out. An update: I have decided to put in 1.5K more into another FX trading account so that I can trade the fixed...

Thanks. Weekly Overview EURUSD EURUSD price sitting just slightly above the 38.2% fib retracement area as well as the 200EMA. It will be important to see whether this resistance will hold or will the daily open be above this level. Directly below that 38.2% area is support existing in...

Yes discretion has no bearing on my trading. I focus on research rather than trading leaving that to my computer. However, I do believe in discretionary analysis of the markets and do take part in it as you can see from some of my posts. I do not think its dangerous as I had a lot of free...

Yes momentum in the direction of trend where there is a high probability of success in the position.

Yes quick moves are the norm. You have stumbled upon one of the most important basis of my system. When a range is broken the immediate reaction is accompanied by an increase in velocity coupled by a VERY fast increasing acceleration which signals the slow topping of the market.

Yes it can be traded from anywhere and by anybody which is the reason the small number of elite traders make MORE money than from anyone in the FX game ;). It may look easy but 95% of all traders playing FX fails. The strategy I talked about on my previous post first strated out when I tried...

Been working on one of the strategies I use since February. IT is basically a cumulative result of all the work I have put in since then.

Yes it is possible. That is what I personally do to trade. One of the key factors in FX is its fast pace. You must be on your toes and monitor your position 24/7. This is very important as it is possible that at any time some central banker or some big news will hit the market leaving your trade...

Yes the spreads remain the same even during NFP. I have traded with FXCM previously and many times my stops were dishonored and trades took 10-15 seconds to fill. I havent had this problem with IBFX. All their hedging is done by outside sources which allows them to focus on execution and operations.