Search results

EUR/JPY seems to be headed to 133.50 Quite often at round numbers like 133.00, if the price reaches 133.25 it usually does not stop until it reaches 133.50, another psychological number.

Out at buying price, what a shitty day, I should have stayed in bed.

Closing at 92.95 (7 pip loss) and reversing position.

Absolutely, a close at or below 0.8370 could be considered as a serious and valid short signal, with a first target around the 0.8350 area. Personally I am considering the long side at 0.8380, but the upside potential is rather limited (serious resistance ahead....).

Big Hammer at support area on the EUR/GBP (15 min) chart.

I miss them too, the entire daily range of the stupid AUD/JPY is a whopping 20 pips as we speak :D

An entire book has been written around that subject, it's called "Maximum Adverse Excursion: Analyzing Price Fluctuations for Trading Management" by John Sweeney. A must-read in my opinion.

Here are the hard, cold facts: as a trader, if you - or your trading system - can make at least 2% a month profit on average (what the pros call ROI or return on investment), year after year, you are more than OK. 2% a month does not seem like a lot at first glance, but compounded it...

....Or dump the Yen and buy Russian rubles, hehehe :D

Very good question TradingJournals. Profitable trading is all about risk management and risk reward scenario. The whole idea is to buy at support level IF (and only IF!) the distance between the entry point and the next resistance level is at least twice the size of your stop (2 to 1 risk...

Could be a coded message for a few insiders, who knows...? Remember the famous "Blue horse shoes loves Anaconda Steel", from the movie Wall Street? :cool:

Short AUD/JPY at 92.88 On the 1h hour chart, we have two spinning tops candlesticks at resistance level, a very powerful formation indeed. Let's see now...

Quiet Asian session so far, nothing is moving except the New Zealand dollar and its crosses, GBP/NZD dropped almost 100 pips since the open.

Wow, what an explanation, a simple sentence! Pffff.... By the way, a momentum strategy is only a small subset of a global trend-following strategy, but these two trading concepts are NOT equivalent. Momentum is short-term oriented, while trend following techniques usually stay with the...

Good for you Visaria, but as you probably already know, if a trader is constantly looking for very small profits (under 10 pips for instance), he won't make it in the long run, unless the percentage of his winning trades is above 70 or 80%. For example let's take a currency pair with a 3 pip...

I ONLY trade with facts, not opinions! I have read over 300 trading books and they all say the same thing, while backing up their claims with intensive backtests: Stocks indexes and stocks are mean-reversing instruments, period. If you can prove otherwise we are all ears. I have been...

That's what people usually say when they do not see the big picture. There seems to be some confusion here, mean-reversion does not simply mean reversal of the trend, regardless of the time frame used. Studies and backtests simply reveal that indexes like the S&P 500 (and stocks in...

The market cannot take your money unless you allow it to do so.

What this ignorant does not know it that stock indexes like the S&P 500 are mean-reversing financial instruments, and as such they do not respond well to trend following techniques like moving averages. On the other hand, they work much better with stochastic based trading systems.

Out at 158.75 (15 pip profit), thank you Mr. GBP/JPY :) Ok folks, that's it for today, we all did good this week, enjoy your winnings and have a good weekend.