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The breakout is now in place on the NZD-USD, long at 0.8315 NZD Employment report due in a few minutes (4:45PM EST), so it should be interesting to watch this trade, to say the least :D

Out at 1.4583, minus 40 pips for today, I never argue with the market.

Short GBP/CHF at 1.4563, play it again Sam... (Believe it or not, Humphrey Bogart never actually said "Play it again, Sam" in the classic movie Casablanca)

Out at 1.4570, possible re-entry later.

Nice Bearish Engulfing pattern at resistance level on the GBP/CHF (1h chart), short at 1.4550 on the pullback.

Risky trade, the EUR/CAD has dropped almost 400 pips with virtually zero pullback. The 38.2% Fibonacci level is getting hungry and about to collect its dues any minute now.... EDIT: on the 15-min char, 1.4096 seems like a minor resistance area, so if you are looking for a quick scalp with a...

Well done Double O Seven, time for a cold one I guess...or two :cool:

In reality, there is NOBODY in this forum (and that's includes me), the webmaster of EliteTrader has simply created all these aliases you see on the screen and he is merely talking to himself, err... I mean to myself! Think about it for a minute... Oh wait, you can't, you don't exist :D

A simple example to illustrate: We are playing Head or Tail for a dollar per game. We each have a $100 bankroll and we will keep playing until one of us is broke. 99% of the time, I will win at least $1 before you take my entire bankroll. Same thing here with stocks, it's just simple...

Sure you can. Buy a $100 stock. Put your take profit at $105, no stop loss. You will win that trade 95% of the time. Most traders do not realize that profitability in trading has nothing to do with percentage of winning trades.

For the last time, markets do NOT change, they go up, they go down, they go sideways, THAT'S ALL THEY HAVE BEEN DOING SINCE DAY ONE!! Buy when they go up, short when they go down, and do nothing (or sell options) when they are going nowhere, that's all there is to it.

Legendary trader and author Nicolas Darvas ("How I Made $2,000,000 in the Stock Market") once said : "I don't really care WHY the market does what it does, I just want to make sure I'm on the right side of the move!" I am exactly like that, that's why I really don't concern myself with...

Wrong again. I work smart, not hard.

:confused: If according to you day-traders are mentally sick, scalpers must be possessed by the devil then, I suppose?

Nonsense. Every trader is also looking for trendlines, support and resistance levels, head and shoulders formations, ascending triangles, Fibonacci levels, pivot points, shooting stars, dojis, etc... and yet these chart patterns are still working to this day.

EUR/USD has a hard time breaking through the 1.3510 resistance level. Is it ripe for a reversal or just getting ready for the next up move? Let's find out...

Long EUR/USD at 1.35, let's go.

Hi: There are of course mathematical formulas to determine the optimal bet size (in percentage of your trading capital) if you know your odds of winning the bet (trade) and the payoff, Kelly criterion for example: http://en.wikipedia.org/wiki/Kelly_criterion In games with negative...

Uh-uh, ugly hammer at support level (2h time frame), never a good sign for short positions on the EUR/USD, but let's keep watching...

Not at all, we are just trying to beat the system using statistical data. All trading systems, even the highly profitable ones, go through 2 cycles: the making money cycle, and the losing money cycle. My idea is to risk real money only when we are deep enough in the losing money cycle (on...