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As far as trading is concerned, you have an edge if you simply know how to consistently profit from non-random price movements. This can only be accomplished through intensive backtesting. The other type of edge comes from illegal insider information (hello Gordon Gekko) and/or superior...

What did I tell you, the option sellers will come and deny what I just said 3 posts above :D

Selling options DOES give you an edge because the true value of an option is only known to the insiders/sellers. It does not mean that you cannot go broke if you don't know what are you doing though. Now watch, the option sellers will soon come and absolutely deny that... :D

Most traders naively believe that risking 1 unit to make 3 units (3 to 1 risk/reward) gives them an edge. When we play Lotto we are only risking $1 to make hundreds of millions and yet playing the Lotto does not give us any edge. But traders still believe that risking a little to earn big...

You short-ed EUR/USD at 1.3456 and yet your take profit is at 1.3493 (37 pips higher than you entry point), how is that even possible??

Out at 0.8295 (+5 pips). Fridays are usually hard to decode and trade.

Dumping EUR/NZD at 1.6216 (9 pip loss) and buying NZD/USD at 0.8290

Wait a minute, if I trade Yen against dollars with you for example and I win $10.000, that money is coming from your pocket, so how can we both be richer after that transaction?? :confused: The Forex and the Futures markets are both zero-sum games, no new money is ever created.

Long EUR/NZD at 1.6225 Like the GBP/NZD, this pair is very volatile!

So for example saying that 1 GBP = 2 USD is not the same thing as saying that 1 USD = 0.50 GBP ??

Well if A/B goes up, A must gain in value against B (the same A now buys more B), no? Are you sure about that...? :cool: The correct number is in fact 28 (currency pairs): 1 2 1 3 1 4 1 5 1 6 1 7 1 8 2 3 2 4 2 5 2 6 2 7 2 8 3 4 3 5 3 6 3 7 3 8 4 5 4 6 4 7 4 8...

Seems like the USD/JPY is looking for 100.50 ...

Too bad you closed this trade too soon, as shown on the chart I gave you, the AUD/JPY bounced off that new support line and is now at 93.60, 77 pips above your entry point.

Out at 0.9330 (10 pip loss), possible short re-entry later, I never argue with the market, it's better to take a 10 pip loss than a 100 pip loss.

Short AUD/USD at 0.9320 Here we have a rather bearish candlestick formation plus a price rejection at important Fibonacci levels.

Here is the chart.

Thanks. You did not buy USD/JPY too?? I thought you did, after you asked for a trade recommendation and I replied a few minutes later. Anyway, a profit is a profit. Well here it is again, as you probably know once a resistance or support level is broken, its role is reversed, that's why...

http://finance.yahoo.com/news/more-taxpayers-abandoning-u-181500097.html

Closed the USD/JPY position at 100.10 (90 pip profit), as some profit taking is about to take place at resistance level, thank you Tokyo :)

Wow, you never quit do you? :) Well I am off to bed now, zzzz.....