Search results

The first "breakout" on the EUR/NZD was a fake, here is the real breakout, see chart below. (Just bought EUR/NZD at pullback line at 1.6145). The Forex dealers knew that a lot of people were watching that long channel, so I guess they had to eliminate the weak hands first. Very sneaky...

It seems that this database starts from January 2001. Almost 13 years of data, not bad. Here is the start date: http://biz.yahoo.com/c/ec/200101.html Happy testing :)

For US economic reports you can use Yahoo Finance, just keep clicking on "Last Week" to get previous data. Not sure how far back you can go though, but it's still a good start: http://biz.yahoo.com/c/ec/201347.html

The problem with Bitcoin is that it does not offer leverage, so to make $100.000 for example, you need to invest $100.000 and wait for the price to double (a 100% move). On the other hand in Forex, with a 100 to 1 leverage account, you only need a 1% move to double your money.

Still have no clue what caused that 100 pip spike on the EUR/NZD on no news, tough....

Another very clever way to use stops is via call or put options, that way the trader is protected (and can leave his position open) even if the market is strongly moving against his position, or even worse, when the future contract he is trading is locked limit up or limit down.

Breakout on the short side. As I said in previous posts, the EUR/NZD is very volatile.

Well, that shooting star candlestick (a bearish formation) at resistance level is not a good sign for EUR/USD buyers, at least for now...

How long can the EUR/NZD stay in this channel...?

No I don't use stops, I just love to wake up in the morning and find an $800.000 loss in my account, because some schmuck from the FED said something bad about the US dollar, while I was sleeping :D Jokes aside of course you need stops, otherwise just one big mega loss and you are out...

Buying high and selling higher (or selling low and buying back lower) is even better... :cool: Most traders have a hard time understanding this simple idea, they prefer to chase tops and bottoms, which is extremely hard to do consistently.

In my opinion the Forex market is not going to move much until the US FOMC meeting (due on Wednesday) is over, so it is going to be booooooooorinnnnng :p

Keep in mind that the risk/reward ratio is just an average. On a trade per trade basis this ratio will of course vary. I could risk $100 to make $100 on Monday, but risk $100 to make $450 the next day, for instance, depending on each trade setup.

So you need at least a 2.33 to 1 risk reward ratio just to break even.

Sounds like a good trade, you are selling at resistance level and your take profit is reasonable and located at the first support level, good luck.

The only way to win with a low winning percentage is to trade many, MANY non-correlated financial instruments at the same time. That's how the famous Turtles won millions in the Futures market. For example if you trade 20 different commodities, you will ALWAYS catch a mega trend in a...

Really? Like what? Unless you are talking about these kinds of instruments :D

?? :confused: Here is a strategy : sell when RSI is at 80 (overbought), buy when it's at 20 (oversold). Test it in Forex, this strategy gives you NO edge. So yes every trader has a "strategy", but it does no mean that his/her strategy has any mathematical edge.

At the roulette, the casino has a 5.4% edge if you bet on the numbers (1 to 36 and 0 and 00) and no money management in the world can change that percentage. Same thing with trading, you cannot change your edge with "good" money management, because "good" money management is ALREADY one of...

Hi Jnbadger, Switch to green tea from China (3 or 4 cups a day). Make sure you use mineral water not tap water (it's full of harmful chemicals and fluoride). It will calm you down and even your mood will change for the better. Try it for at least a week and you will notice a big difference...