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Pending GBP/JPY order has now been cancelled. Missed the entry point by only 3 pips or so. Too bad, 75 pips would have been in the bag by now.

Bought CAD/CHF at 0.8145, 30 pip stop

Short AUD/NZD at 1.0855 on a limit, 20 pip stop. Lousy currency pair, if you ask me.

Technically speaking diversification means trading a large basket of non-correlated financial instruments, in the same class of asset (Forex for example) or in different type of assets (currency, bonds, stocks, commodities, etc...) In general, unless you are a "commercial" and you trade...

Shhh... don't tell them that!

Fastest way to lose money trading : find an existing trend somewhere and bet against it day and night. Keep adding to your losing positions until your broker sends Joey "the butcher" to collect your huge margin calls.

Yep, if that triple-top holds you are going to collect some serious beer money! :p Listening to Chopin while trading, eh? Good man, he is one of my favorite music composer!

Yes you are right again, of course. In fact the Wall Street Journal is going to publish a story about my heavy losses tomorrow. The front page will read like this : "Amazing but true: Forex trader lost an unbelievable 143 pips in less than two weeks! From Sydney to New York, Forex traders...

You sure about that Boskop? :p On the daily chart we have a nice ascending triangle in an uptrend, usually a bullish formation. The only thing good here is the potential triple-top configuration, so I assume you are betting on the reversal.

Well, we will see about that... So far minus 143 pips, since the beginning of this thread. EUR/GBP trade is still open (10 pip profit as we speak). The GBP/JPY trade could have worked (75 pips in potential profit so far) but the long pending order was not triggered, the price came 3 pips...

Noise is everywhere, as no one can predict what retail traders or financial institutions are going to do with their money next. What I mean by noise is the constant, non-stop financial "information" we receive from the media (TV, newspapers, internet) or from other traders (forums, live...

Yes, but it's not that easy. First you have to find a way to determine the exact amount of money flowing from country to country at any given time (almost in real time if you trade on the small time frames). And statements from the FED, central banks officials and the politicians about...

Synthetic short. I am warning you for the last time Drownpruf, drop the name calling or I will have you kicked out of this thread once and for all.

I am NOT talking about the mechanics of the trade itself (that's kid's stuff), I am talking about its outcome as far as the probability of the system is concerned. You are, after all, paying double the spread to initiate two positions instead of one.

It looks like you are using a mix of technical analysis and fundamentals to make trading decisions, am I correct? Personally I cannot, it just complicates things beyond belief, because it just adds an unnecessary extra layer of variables. And the more variables you introduce to your...

That's precisely what I am doing, but it seems pretty obvious that the other guy refuses to cooperate and have a normal discussion without making insulting remarks in almost ANY ET thread.

You still haven't answered the question and I will repeat it again : do you seriously believe that synthetic trades are without risks? No one-liner, stand-up (no funny at all) comedy's "answer"please.

And EUR/NZD itself is 100% correlated to... EUR/NZD, did you notice? Also, are you suggesting that synthetic trades are without risks? PS: No need to add words like "fool", "joke", etc... it won't make your posts and arguments any more credible, on the contrary.

Sure, no one is trading off the hourly charts these days, they just use the daily charts or the tick charts! :D And for your information (just in case you feel the urge to post another Mickey Mouse "statistics"), the correlation depends on the time frame : pair A could be highly correlated to...

You are welcome. It's perfectly alright to open multiple and/or additional currency positions for hedging purposes Boskop, I just wanted to warn you about the (potentially problematic) correlation issue, if you were not already aware of it, that's all.