Dear Mahir, What are the possibilities of a zero interest rates regime on the global financial terrain in the 1st month,6th month and a year from now? What are the possibilities of Crude oil, Gold, NYSE,NASDAQ,FTSE and other commodities in rallying or declining in value for the 1st month, semi anually and anually? What are the possibilities of war erupting in another economically vital hotspot/region in a month, 6 month and a year from now. What are the possibilities of an economical new world order, arising from the financial Armageddon, in part, being sponsored by some media, in the short term, medium term and long term? Think, Man.. Your question was based on ''would be''... mine was on ''possibilities''...You need to think of what the market might be in terms of possibilities, not in terms of ''will''. Life is a paradox, just like the Universe, or the markets,from what Schrodinger deduced in his atomic theories in the field of Chemistry. No one knows the exact time when a particular event would take place,ALL the time..That is the trading paradox..Else trading would have guarantees and the word ''speculation'' might not exist in its glossary... thnx buddy i got the 1st target and the all credit goes to you. can we hav a chat on some other source????????[/QUOTE] No probs...just check my contact info, mon ami... Greeetings, Ladies and Gentlemen, Due to some minor connectivity glitches for some days now,my contributions to this thread was delayed..but I thank God for everything... For the short term, a la mahir,we could put a sell stop gbpusd @ 1.4618..1st target @ 1.4595..2nd target @ 1.4560..3rd target @ 1.4525.. For the medium term, we put a sell stop on GBPUSD @ 1.4465..1st target @ 1.4425..2nd target @ 1.4385...3rd target @ 1.4305...5o pip sl away...Remember to take half profits when +20 pips away,while shifting sl to entry. "If you want to know your past, look into your present conditions. If you want to know your future, look into your present actions." ...Chinese Proverb
[ Me too,ddock...it has been quite a while since that chart was posted,I must say... those numbers come from the chart, where we added/subtracted the range of price from its virtual entry point..second, am not really familiar with the 3 ducks system..so cant say for now.. yea, t2wfx, we try to get better and better by the day.. Yes Lance, you can get a sample detailed performance report on my strategies as an attached file below.Just click on it ,okay...This was on a starting balance of $10k as at October this year, in which the total net profit is $3k plus..relative drawdown of 8.69% over a 3 month period..that should be approximately 10% per month on the average. Not too bad...action speak louder than words. To all the traders in the house, with style and grace...allow me to lace these lyrical possies in your purses..which price moves, would move down to bearish...the back of the keyboard is the place where you gonna me..forex questions asking...trades passing..profits blasting..but I jus cant quit...because some of these brokers need some dose of ethics, check this.. you can put a sell stop on gbpusd @ 1.4680...1st target @ 1.4655..2nd target @ 1.4635...3rd target @ 1.4540 ..sl 50 pips away...
TO: ForexGreenLand Great thread! Questions for you: 1-looks like you are consumed with the GBP/USD...why only this currency?...do you trade others? 2-do you only trade micro lots or standard size lots ever?I seen you neveer trade even 1 lot... 3-you made $3,000K since you opened the account...do you have a job or other investments you live off? 4-where do you live and what hours do you trade Forex? Great trading to you!!
yea, jeff, market have been pretty much volatile since the last half of this year..Nice observation, though.. Helloo there, increasenow, from the tone of your comment, you seem to be hiding some heavy sarcascm beneath velvet gloves, or shall we say , ''cat's paw''? maybe its just a reflection of your inner mental processes at work...well, I'm in a good mood so I'll humour you for now and give you some answers.. 1- consumed with GBPUSD? What do you think this, alcoholic consumption frenzy? Trading is a wide field like medicine,law,or any other profession out there...it pays to specialize in one or two currencies well and be profitable, than to be jack of all trades and master of loss..ever heard of comparative advantage? Warren Buffet said something along the line of diversification are for those that dont really know what they are doing...put your eggs in few baskets as possible , and watch them like a hawk...so in order words, I trade all currencies and I specialize on the cable, just like I said on my begining post here. 2 - I manage forex accounts ranging from tens of thousands minimum, to millions of dollars..That sample detailed report you saw was based on how much return of investment(ROI) gained monthly from a minimum of 10k. Due to my style of trading, risk and money management is of top priority in the first objective of preservation of capital. The second objective of making profits comes next.I want you to understand that in trading, garbage in, garbage out...right thinking, right product.. Never risk more than 2% to 3% of your capital in any trade...For a 10k account, dont risk more than 200 dollars..for a 100k account, dont risk more than 2000 dollars, for a $1m account, dont risk more than 20k in a trade.. So in the context of this sample, why should a professional trader use 1 standard lot on a 10k account, if risk mgt suggest $200(2%) risk on a single trade for that equity ? You have the potential of losing $2,000 on a trade, which is 20% of the 10k equity, instead of just $200 or 2%..That 20% keeps you in the game for just 5 times, while the 2% keeps you in the game for 50 times...Devrim, a forex trader lost 90% of his million dollar account because he wasnt using stops...learn from the mistakes of others..maybe you should go back and read this.. http://www.babypips.com/school/drawdown_and_maximum_drawdown.html The higher your equity, the better capitalized you are...Dont be fooled by adverts telling you to trade forex for $10 or $100 or claiming you can make gazillions out of a palty amount ...doesnt work that way...from your name,increasenow,dont be greedy, 3- 3k from a 10k account in 3 months amounting to an average of 10 % monthly, is not too bad in my opinion, considering the last 3 months have been the most volatile and uncertainity filled period in the markets, with the global economic crises,recession troubles and bad news transmitted everywhere.. .. Traditionally, months from October through December, have always been very hectic for traders...most rarely trade during the period as banks, hedge funds square off positions to the detriment of the undercapitalized and inexperienced traders. For the 3 month to a year period, bonds have been below 2%, Treasuries Bills rates have been slashed to pieces and stock index have been on negative for the last 9 months now..so why make jest of a 30% return in 3 months, if you are not a court jester? http://finance.yahoo.com/bonds/composite_bond_rates http://www.bankrate.com/brm/ratewatch/treasury.asp For the record, that 10k account is just a SAMPLE of the other currency based accounts that is being managed, amongst other investments. 4- Where do I live? Though trading is a lonely business, No stalking , please... no probs, lancelot... [09:09:41 08/12/08] Stalion : helloo there everyone [09:24:35 08/12/08] klho83 : hi Stal [09:51:36 08/12/08] fasi26 : hi alz [10:10:02 08/12/08] Stalion : hi fasi [10:11:18 08/12/08] Stalion : our sunday trade didnt work out as planned, so we put a buy stop on gbpusd @ 1.5045..1st target @ 1.5105..2nd target @ 1.5165...3rd target @ 1.5225...50 pip sl [10:15:25 08/12/08] klho83 : OK Thanks! [10:24:08 08/12/08] fasi26 : hi allz [10:29:01 08/12/08] fasi26 : shuld v go for EUR/USD sell stop [10:36:48 08/12/08] fasi26 : helloooooooooooo [10:42:08 08/12/08] fasi26 : Stalion????????? [10:46:05 08/12/08] Stalion : hi [10:47:34 08/12/08] fasi26 : hi sir how ru [10:48:28 08/12/08] Stalion : am okay [10:48:31 08/12/08] Stalion : and you? [10:48:40 08/12/08] fasi26 : same here thnx [10:49:22 08/12/08] Stalion : we also put a sell stop on gbpusd , as a hedge, @ 1.4945....1st target @ 1.4900,2nd target@ 1.4855,3rd target @ 1.4815....50 pip sl away [10:49:27 08/12/08] fasi26 : eur/usd ? [10:51:40 08/12/08] fasi26 : hmmmm i entered [10:51:53 08/12/08] fasi26 : but i m luking for eur.usd any tip [10:53:05 08/12/08] Stalion : for eurodollar, a sell stop @ 1.2869...1st target @ 1.2847...2nd target@ 1.2825....50 pip sl away [10:53:13 08/12/08] Stalion : hi avak [10:53:26 08/12/08] fasi26 : hmmm k [10:54:58 08/12/08] fasi26 : i got 1.4900 ... 1st trgt @ 1.4850 [10:58:50 08/12/08] fasi26 : ? [10:59:58 08/12/08] fasi26 : did u see eur.usd forum [11:00:24 08/12/08] Stalion : nope...where? [11:00:37 08/12/08] fasi26 : dailyfx forum [11:01:25 08/12/08] Stalion : whats happening there? [11:08:29 08/12/08] Stalion : hellloooo, fasi....?please wake up....2nd target hit [11:16:50 08/12/08] Stalion : not yet..... [11:26:32 08/12/08] Stalion : remember to take half profits after +20 pips ahead... [11:26:39 08/12/08] Stalion : then shift sl to entry [11:37:52 08/12/08] Avak1988 : hello Stalion [11:38:27 08/12/08] Avak1988 : I just try to understand what is going on and how do you work here sell stop on gbpusd @ 14745...1st target @ 14705..2nd target @ 14665...3rd target@ 14625...also as a hedge, we put a buy stop @ 14825...1st target @ 14865...2nd target @ 14900...50 pip sl on both.. Please remember to take half profits after you are +20 pips while shifting stop loss to entry. And 15 to 25 pip trailing stop should be used after 2 nd have hit..
Helloo fasi, lets illustrate ,shall we? For example, we have a buy stop @ 1.5000, where stop loss was 50 pips away, @ 1.4950...so our buy stop was triggered and price gets to 1.5020 or more..THAT is when you adjust your stop loss level from 1.4950, up to the buy entry level of 1.5000..then taking half profits means closing half your position(s)..if you entered with 1 minilot, you close at 0.5....if 2 minilots, you close at 1 minilot...sequentially...failure to apply this simple risk management technique while trading, is the cause of so many unnecessary losses.. Hope you now understand.. Hi Jimmy...thanks for your mail....howz the famous Down Under?....The Land Of The Antipodes...hope you guys are treating the aboringes well over there..cool..well,am really humbled by your comments, mon ami...London Session is mostly where I'm at...3am EST... [11:29:04 10/12/08] Stalion : hi fasi [11:35:42 10/12/08] klho83 : Hi Stal [11:49:03 10/12/08] fasi26 : stalion???? [11:49:08 10/12/08] Stalion : how was trading yesterday? [11:51:15 10/12/08] fasi26 : i didnt trade [11:52:11 10/12/08] Stalion : cool [11:54:09 10/12/08] fasi26 : bcoz it's hlidays here so i m enjoying 2 days of eid [11:54:56 10/12/08] Stalion : yesterday price got down to our 1st target on our sell stop, before going back up [11:56:04 10/12/08] Stalion : but if your buy stop had triggered, you would have been stopped out....and a reentry today would get you to 1st target @ 1.4865 on our buy stop entry [11:56:16 10/12/08] Stalion: Happy Sallah, fasi [12:01:30 10/12/08] fasi26 : wht was the impact of obama's speech [12:04:19 10/12/08] Stalion: didnt know he had a speech....what was it all about, fasi? [12:05:16 10/12/08] fasi26 : it's about new economic plan of america [12:05:24 10/12/08] Stalion : hi K [12:05:36 10/12/08] fasi26 : and he still wana spend more money for the infrastructure of america [12:09:38 10/12/08] Stalion : YEA...LIKE fdr DURING THE gREAT dEPRESSION OF THE 1930'S [12:11:09 10/12/08] fasi26 : yes he said that more money can be spend as campared to 1950;s [12:11:31 10/12/08] fasi26 : and economy will go down more before taking high [12:11:55 10/12/08] Stalion : President Frank Delano Roosevelt did massive reconstruction to overcome the US Depression [12:17:58 10/12/08] Stalion : by pumping more money into the system through effective Reconstruction, he emplys more workers...this is like the faceoff BETWEEN EMPLOYMENT AND INFLATION...FINE, TOO MUCH DOLLARS MIGHT BRING INFLATION, BUT LOW UNEMPLOYMENT RATES ENCOURAGES GOOD CONSUMER SENTIMENT, WHICH BRINGS IN HIGHER DEMAND AND PRODUCTIVITY , WHICH TRANSLATES TO [12:19:34 10/12/08] Stalion : BEATING THE GLOBAL SLUMP...CREDIT, THOUGH LOOKING TO BE MORE REGULATED, WOULD BE MORE ABUNDANT FOR EXPANSION... [12:46:51 10/12/08] fasi26 : hmmmmm ur right [13:17:37 10/12/08] Stalion : hi dj [13:19:44 10/12/08] Stalion : did you get our buy stop? [13:23:45 10/12/08] djcarlos : yes.. thanks... but I was in the car... and now the 2 targets are hits [13:24:25 10/12/08] djcarlos : in other trade .... [13:26:22 10/12/08] Stalion: yep...correct... [13:27:12 10/12/08] Stalion: hope you are going to be around when we have winning trades, dj....for that offsetts any losses we might have [13:29:26 10/12/08] djcarlos : yes... I always have my laptop with wi-fi.... but now i dont got it with me [21:54:53 14/12/08] Stalion : So for today Sunday the 14th, we put a sell stop on GBPUSD @ 1.4946...1st target @ 1.4923..2nd target @ 1.4905..3rd target @ 1.4884... [22:01:53 14/12/08] Stalion : also as a hedge, we put a buy stop on GBPUSD @ 1.5005..1st target @ 1.5035...2nd target @ 1.5065...3rd target @ 1.5095..both with 50 pip stop loss away 1.5034(A)-1.4815(B)=0.0219 0.6*0.0219=0.01314 0.01314+1.4815=1.4946(60% SELL WINDOW OR SELL ENTRY) 1.4988(C) - 1.4815(B) = 0.01730 0.6*0.01730= 0.01038 1.4988-0.01038= 1.4884(3RD TARGET/60% BUY WINDOW) GIVE THE PRICE SOME ROOM..LEAVE THE PRICE ALONE; LET THE PRICE ROAM AND TWILL FIND ITS WAY HOME..
[21:54:53 14/12/08] Stalion : So for today Sunday the 14th, we put a sell stop on GBPUSD @ 1.4946...1st target @ 1.4923..2nd target @ 1.4905..3rd target @ 1.4884... [22:01:53 14/12/08] Stalion : also as a hedge, we put a buy stop on GBPUSD @ 1.5005..1st target @ 1.5035...2nd target @ 1.5065...3rd target @ 1.5095..both with 50 pip stop loss away [08:39:33 15/12/08] fasi26 : thnx stalion but got it late [08:41:47 15/12/08] Stalion : no probs, mon ami [08:42:08 15/12/08] Stalion : helloo everyone [08:43:18 15/12/08] fasi26 : oh gud to c u how ru [08:43:50 15/12/08] Stalion : price hit our buy stop @1.5005 this morning, and went straight to our 2nd target of 1.5065...thats 60 pips in less than 4 hours [08:45:20 15/12/08] fasi26 : actually when u snt me msg timehere is 2 am n i was sleeping [08:45:50 15/12/08] fasi26 : wht abt Eur Usd ??? [08:46:08 15/12/08] Stalion : no probs....more opprtunities to come [08:46:38 15/12/08] fasi26 : yeah [08:46:52 15/12/08] fasi26 : u cant get all opportunities [08:47:27 15/12/08] fasi26 : all the time in from of market screen no way yaar [08:50:23 15/12/08] realjimmy : So happy to c u guys here.. [08:50:33 15/12/08] Stalion : lol....80% of the time, price is on consolidation range....we get more opportunities on the 20% breakout in price [08:50:54 15/12/08] Stalion : helloo there, jimmy... [08:51:13 15/12/08] realjimmy : hello Stalion.... [08:51:23 15/12/08] Stalion : howz everything going? [08:51:49 15/12/08] realjimmy : nightmare..... [08:52:28 15/12/08] Stalion : nightmare? I dont understand [08:53:12 15/12/08] fasi26 : jimmy wht is ur nightmare wuld u share wid us [08:53:20 15/12/08] realjimmy : market always goes against me.... [08:53:33 15/12/08] Stalion : for eurodollar, we put a sell stop @ 1.3451...1st target @ 1.3425..2nd target@ 1.3405...3rd target@ 1.3405.. [08:53:51 15/12/08] fasi26 : no jimmy market never goes against anyone [08:54:04 15/12/08] fasi26 : person against it [08:54:27 15/12/08] fasi26 : this is for now Stalion [08:54:53 15/12/08] realjimmy : i know...that's why i am still in my nightmare... [08:56:15 15/12/08] realjimmy : hi Stalion, what's about Stop Loss?? [08:59:16 15/12/08] realjimmy : oh my god.. it's unbelievable....going down immediately.. [09:00:49 15/12/08] Stalion : 50 pip sl as usual...for now [09:01:23 15/12/08] Stalion : dats trading for you, jimmy....very fast nowadays.... [09:02:17 15/12/08] realjimmy : thanks so much...Stalion.. [09:02:25 15/12/08] realjimmy : you are my hero.... [09:02:42 15/12/08] realjimmy : i think i have found the 'light' [09:02:52 15/12/08] Stalion : hey, jimmy....easy there....God is our hero [09:03:08 15/12/08] Stalion : To Him We Give All Glory [09:03:25 15/12/08] realjimmy : Very Happy [09:03:53 15/12/08] fasi26 : right Stalion [09:04:16 15/12/08] Stalion : yes.....mon ami...I dont claim to have the so called ''Holy Grail''....just understanding market bahaviour, dats all.. [09:04:23 15/12/08] fasi26 : jimmy when 1 dooor is closed 2 more doors opens on other side [09:05:52 15/12/08] Stalion : dat doesnt mean there r no losing trades...dats where risk mgt comes in...please remember to take half profits when +20 pips ahead and shift sl to entry [09:07:10 15/12/08] fasi26 : i gottcha Stalion Razz dnt wry [09:07:31 15/12/08] fxjedi : hi all [09:07:46 15/12/08] fasi26 : hi fxjedi [09:09:05 15/12/08] fxjedi : thanks for the sms yesterday night , Stal, I made 60 pips from it [09:10:03 15/12/08] Stalion : cool [09:10:28 15/12/08] Stalion : hope I didnt disturb your sleep? [09:11:10 15/12/08] fxjedi : what? when dollars are concerned? hell no! [09:11:16 15/12/08] fxjedi : lol [09:23:22 15/12/08] fxjedi : 1st target hit on EURUSD [09:24:48 15/12/08] Stalion : cool [09:24:51 15/12/08] fasi26 : yea cut 1 lot took half profit [09:25:03 15/12/08] Stalion : hope fasi took his trade [09:25:26 15/12/08] fasi26 : i took mona mi [09:25:53 15/12/08] Stalion : great [09:27:31 15/12/08] Stalion : GBPUSD looks like its in a range [09:43:57 15/12/08] fasi26 : stalion u said that if market +20 pps cut it half profit n amend the sl to sl entry.... but wht abt the other half lot where to hold it how long to hold it [09:44:27 15/12/08] Stalion : dont know when, fasi... [09:45:24 15/12/08] Stalion : the other half lot is held for the 2nd and/or 3rd target....you still shave off half of that half lot when at 2nd or 3rd target [09:28:37 16/12/08] Stalion : howz it going, fasi? [09:33:36 16/12/08] fasi26 : hi [09:33:41 16/12/08] fasi26 : it's great [09:34:55 16/12/08] Stalion : yesterday price on the gbpusd went for both our sell and buy stops, yielding more than 150 pips in the process...eurodollar went down to 1st target b4 shooting up.. [09:35:35 16/12/08] fasi26 : oh nice [09:41:03 16/12/08] Stalion : for today, we put a sell stop on gbpusd @ 1.5245...1st target @ 1.5205...2nd target@ 1.5165...3rd target @ 1.5125...50 pip sl [09:41:15 16/12/08] fxjedi : thanks,Stal [09:54:45 16/12/08] fasi26 : gbp/usd is close to 1st target [09:57:04 16/12/08] fasi26 : i cut the half +20pips holding half position [09:58:05 16/12/08] fasi26 : yeah yeah yh yeah yeh [10:12:25 16/12/08] fxjedi : do i reenter now,stal, am stopped out on profit cool...airick, price on the cable and other currencies, including stocks moved more than 300 pips on the US Fed rate cut of 0.25 basis points.Here's the chart putting the posterior into posterity,another unsolved mystery going down in history http://news.yahoo.com/s/ap/20081216/ap_on_bi_st_ma_re/wall_street
Helloo folks, price on the GBPUSD gave us some clues, technical analysis wise,on its 300 pip move by the 1-2-3 bottom, which foretold a bullish move..coupled with the fundamental news that the US was cutting interest rates..and voila...yumm yumm... Nice one, roguetrader....but please can you give more explanation on your chart? So for today, wednesday, we put a Sell stop on gbpusd @ 15575...1st target @ 15545...2nd target @ 15505...3rd target @ 15430...50 pip sl.....remember to take half profits when +20 pips ahead, then shift sl to entry level..
Quite right,sam...If you noticed on the chart, you could see the 1-2-3 bottom below and the head and shoulders pattern above...They are both reversal chart patterns,telling us price has a high probability of reversing direction from its prevailing trend..The 50 pip stop loss was at the left shoulder, and before we know it, 200 more pips, after 3rd target, was liberated.. Patience is a virtue,especially in the markets,right, jeff? I been with these skills, crystal spills, hot bills, in Brazils..about African Black Dreams..makes it hard to figure me..some traders be tickle me..like Fidel Castro..undercover Dannie Brasco..sound like MACDs, the prayer mantis..so get a grip on the whip..playerhaters getaway or my pen would spray..scribble off till I empty..dont tempt me..only to say I thank thee..its all about the benjies.. @ Wise?TX 1- Would you give control of your live account to an EA? Would you board a flight across the Atlantic with just robots to navigate and NO human pilots? 2- Google 'chart pattern recognition and price projection strategy' and see whether it is a system or not, mon ami..THE CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY tells us, to a considerable extent, where price is going and how far it might get there.. If it is not a system, how come you see these charts showing more profits than losses for months now? Is it possible to make consistent profits WITHOUT, not just a strategy but a SOUND STRATEGY? Or did I go and meet brokers and tell them ''hey, buddies, please fix some green dotted entry lines and red dotted stop loss lines for the benefit of our bronco billy cowboy"? 3- I think you need some glasses,Man...or maybe just remove the negativity and focus on this thread with clarity of mind..1-2-3 bottoms,Head and Shoulder patterns, 60% BUY/SELL WINDOWS,REACTION SWING, REVERSAL DATES,TRIANGLES, TREND LINES, MACD DIVERGENCES,ETC, are shown and demonstrated here...Man, you need to stop popping too much Valium pills, wake up and smell the roses. 4- Transcripts of live forex trading conversations are archived on forexgreenland, as a source of practical lessons to students that are ready and willing to learn. Last time I checked, I guess it was a free world. Meaning is relative, according to individual perception and value, my friend. 5- Trading is a business and should be treated as such..Ever read the Parable Of the Talents in the Bible? Please do.. Though this thread is about REVIEWS OF STRATEGIC TIPS,no one is under any obligation to give live forex alerts as PREVIEWS. It is just to demonstrate the effectiveness of the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY. Astonishingly, I bought John Crane's book some years ago and gained much from it..I didnt go around thinking why he was promoting his business through his website or why should he be offering his commodities services to traders..What I'm concerned with is''VALUE''..and the results are clear to see..Dont be like that man in winter, next to his stove,telling it to give him some heat...The stove said '''Wood''...The man insisted on getting heat first before piling woods.Who's deceiving who? As you breathe in, you also breathe out..thats how life is.. Warren Buffett, one of the smartest and most successful businessmen of our time, was recently asked what he thought was the best investment anyone could make in these so called difficult times. His answer was fast and simple ... "The most important investment you can make is in yourself." That could very well be the best advice Mr. Buffett has ever offered. If ever there was a time to take control of your future, it's now. Like you said,maybe you are really missing something,tx..something spongy and mushy..If your IQ gets below 50, SELL.. just kidding Hi sagar, thanks for your mail.. it actually takes around 2 hours to draw and write the charts while trading is on..for me, the thrill and challenge of multitasking helps in my trading environment which brings a fulfilling sense of being. Posting live trades in front of a global audience, where the mainstream perception tends to be ''a trader is as good as his last trade'', is all good..for true traders makes you feel and do good. We should all strive to seek balance in all things we do. so for friday, we could see a mini 123 bottom formation on GBPUSD15 min chart..so a buy stop @ 1.5090...1st target @ 1.5165..2nd target @ 15244..3rd target @ 15315..sl @ 1.5015
Yes,though this time, our 75 pips on our 1st target would have offsetted any ''Black Friday'' losses.. Helloo folks, We thank God for bringing us into a brand new week...Most would call it the Christmas Week so I'm wishing all a Merry Christmas and Prosperous New Year ahead. As we approach Monday, we could see 3 crosses on the GBPUSD 15m chart, the first candle upturned. That was a region of indecision that paused price advance to the upside.To be or Not To Be? MACD is giving us positive divergence to price, which is more or less, a green light. We put a buy stop @ 1.4960..1st target @ 1.4999..2nd target @ 1.5049..3rd target @ 1.5125... Helloo fasi, you could check out the userguide on any mt4 platform..Here's an excerpt: ''Stop Loss is intended for reducing of losses where the symbol price moves in an unprofitable direction. If the position becomes profitable, Stop Loss can be manually shifted to a break-even level. To automate this process, Trailing Stop was created. This tool is especially useful when price changes strongly in the same direction or when it is impossible to watch the market continuously for some reason. Trailing Stop is always attached to an open position and works in client terminal, not at the server like Stop Loss, for example. To set the trailing stop, one has to execute the open position context menu command of the same name in the "Terminal" window. Then one has to select the desirable value of distance between the Stop Loss level and the current price in the list opened. Only one trailing stop can be set for each open position. After the above actions have been performed, at incoming of new quotes, the terminal checks whether the open position is profitable. As soon as profit in points becomes equal to or higher than the specified level, command to place the Stop Loss order will be given automatically. The order level is set at the specified distance from the current price. Further, if price changes in the more profitable direction, trailing stop will make the Stop Loss level follow the price automatically, but if profitability of the position falls, the order will not be modified anymore. Thus, the profit of the trade position is fixed automatically. After each automatic Stop Loss order modification, a record will be made in the terminal journal.'' Trailing stop is also used when your 1st target is hit and price is still going your way, up or down..It enables you to take the maximum outreach in price movement before any major retracement/correction. Depending on the daily range and volatility of the currency pair that you are trading, a 15 to 35 pip trailing stop would be in order. EURUSD has a 2 pip spread..GBPUSD has a 3 pip spread and GBPJPY has like 7 to 9 pip spread...cable is like euro on steroids, which is more stable than pound-yen. That is where we look for balance, the median.. Due to popular demand, a la fasi, we put a buy stop on EURUSD @ 13945..1st target @ 14015...2nd target @ 14085...3rd target @ 14155...50 pip sl for both.. Yea, I know, most seasoned traders might say the general trend is down..why buy? well, in trading, you can make money both by going with the trend, and going against the prevailing trend..if you know what you are doing. Top football strikers learn score goals with both feet, even under pressure...so only time will tell if it would measure..to find the buried treasure..
Lol,fxlion, at least thats a strategy...but seriously though, we shouldnt depend on just chance or others to make money in trading...The beauty of the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY is that you dont need to cram your screens with all sorts of indicators because entries and exits are taken DIRECTLY FROM THE CHARTS. Yes, you are right, mon ami...Price on the GBPUSD made a high of 14991, which was 8 pips less than our 1st target of 14999..by placing your stop loss at entry point after +20 pips ahead, you would have been stopped out at a profitable breakeven of 31 pips or less..Not too bad.. Stallion, I am having a hard time following your past calls. Where exactly can I find them. I have a time difference and I'm trying to make proper adjustements prior to trading. You start calls around 1am my time. Please let me know where on the website I can find an archive. Also, from reading your posts you suggest to take half profit at 20 pips, then move other half to break even s/l, if 1st target hit then sell half and so on. Is this correct and holds true for all your calls? Thank you for the help. I should be up and running on new year, I see big market swings coming our way. Thanks for your mail,pips...I thank God for the positive mental attitude displayed in your comments about the New Year..If we can make profits during the most volatile 3 months in trading (October to December), then there's good reason to expect better things to come in the nearest future. I assume London Session starts 1am your time, depending on where you are in the US. The archives can be found here: It would be better to take off half profits when +20 pips, rather than waiting for 1st target to hit..Time and tide, along with price,waits for no man.. Robert Kiyosaki, of the Rich Dad Poor Dad series,talked about the stock market burst some ears ago, along with its effects on baby boomers and their Social Security program. Even though he gave out some suggestions on how to avoid that pitfall by personal development and education, most people then castigated him as a fraud who just wants to sell his books and seminars. From what is going on in the global economy and the US, it appears he has been vindicated. http://abcnews.go.com/Business/PersonalFinance/story?id=6513517&page=1 Late last year, on one of the popular Nigerian forums, I predicted the Nigerian Stock index(NSE) have reached its top and suggested readers should cover their positions and unload their stocks. But as at then, the bulls were in control, stock newsletter and article writers were fueling the bubble frenzy and screaming ''BUY''.. The young admin of the forum, maybe out of ignorance and emotional bias, reacted by banning all forex traders off his site. But that didnt stop the stock market bubble to burst and uneducated investors losing substantial amount on their equity. Those that took the time, money and energy to understand and educate themselves on market behaviour saved themselves from the bearish drop and even made profits from the decline. In essence, as investors,we should strive to invest in ourselves.No one knows it all. Most people made money in the Great Depression of the 1930's..We can too.. Hi Stal, First of all thanks for pointing me to forexpeacearmy as it is a very good source of forex information. I have been going through the broker reviews and feel like it has stopped me from taking a wrong decision. I have managed to shortlist a few which I beleive are honest as per the reviews. Your comments or experiences on any of these would be very helpful, especially if u could point one or two which I can go live with. 1.MB trading 2.****-Royal 3.Tradeviewforex 4.Alpari Uk Any help and insight would be highly appreciated.. Thanks, Helloo there... Well, it would be unseemly if I publicly endorse any of the brokers due to conflict of interests.So am throwing it out in the open...Anyone that has comments or experiences with any of these is free to post it here. Thanks once again. so for wednesday, we put a buy stop pn GBPUSD @ 1.4740...1st target @ 1.4765..sl @ 1.4715... also a sell stop @ 1.4715..1st target @ 1.4690...2nd target @ 1.4665..50 pips sl