Kashif:
Trade with caution everyone. The market has got its own mind since last week. I was almost fried!

Better sit on your hands than battle the market; you will lose! Most 'rules' have gone to the gutters.

or better still switch to lower time frame.

JLINE:
Eurusd...price hit the b-target at .0659 ...might take another buy,waiting to see reactions.

Edit: re-entered 30mins candle closed above.
...Guts...

Price close to .0705 might close my heavy trade there and allow the other one to run. Might be done for the week.

JLINE:

Price close to .0705 might close my heavy trade there and allow the other one to run. Might be done for the week.

Level hit and its a sell till the next target level at .0636 and .0613 ...will be waiting to long there or look for a way to enter sell as I already missed it. Forgot to place pending.

JLINE:

Level hit and its a sell till the next target level at .0636 and .0613 ...will be waiting to long there or look for a way to enter sell as I already missed it. Forgot to place pending.

temporary SEll until that support or resistant is taken out.
until then we shall keep trading in the zone.

opportunities in EURGBP & GBPUSD also spotted.

Kashif:
Trade with caution everyone. The market has got its own mind since last week. I was almost fried!

Better sit on your hands than battle the market; you will lose! Most 'rules' have gone to the gutters.

learn the dance of the market
or better still, gance with the trend

#copied...
Can money management make Forex trading profitable? NO!

I am sorry to burst your bubble, but it seems to me that you are just another lost soul fallen in the meat grinder called Forex! Please, stop preaching the common "wisdom" about risk to reward ratios 1:2 , 1:3 and so on...! You only confuse people, by spreading false information. Your simulations have no connection to the reality of markets. You try to derive some conclusions based on semi-random Monte Carlo simulations. And you miss the most important part - the edge.

Let me clarify some things.
True, money management is very important! I even created separate thread on this topic to share my experience and ideas...... HOWEVER, money management by itself will not make you profitable.

The risk : reward ratio by itself is irrelevant. In fact Win % is far, far more important.

The ONLY way to make money from trading as a retail trader is to have a strategy with an EDGE!
Not only that, but this edge MUST be larger than the transaction cost. (otherwise your strategy is useless).

The only way to find real edge is to search for patterns and elements of NON - RANDOM crowd behavior!
If your strategy does not provide any edge, then the expectancy per trade will equal exactly 0 (ZERO) minus the transaction cost. In the short term you can have some outliers, but as the trade sample grows, the law of large numbers will come into full effect!
In fact, with 0(zero) transaction cost, it is almost impossible to lose money, as long as you keep the risk per trade low. In a large sample, the account will stay at break-even.

Most traders who lose money consistently, will be surprised to learn the their losses are not caused by terrible trading. They are caused by the transaction cost! (commissions, spreads, swaps, slippage... and in some rare cases by fat tail events, aka flash crashes). The transaction cost slowly eats their account because they don't have any edge!
If you are losing money, try this: calculate your total transaction cost, since the first day you started trading FX, and then compare this to the total amount of money you have lost so far. You will be surprised (as I said)

The above post makes a lot of sense to most traders but the below is the KEY...ENJOY READING.

#copied

The Anatomy

Throughout my research and studies, I've come across into a 5 way intersection. Entry, Exit, Money Management, Psychology (discipline) and System. They are a unique group of each kind with their own strength and pride. Each group believes that they are the highest and the most important part of trading.

One group believes that it is all about the perfect 'Entry'. The other group believes that it is all about 'Exit' and banking the profits. Another group emphasizes that it is 'Money Management' that will solve everything. The other are deadly convinced that it is the Psychology (discipline). And the final group believes in possessing the profitable proven 'system'.

So, who is right?



=======================
Explanation:
Let me ask you for a moment, which one is the most important in trading?

Entry
Exit
Money management
Psychology (discipline)
Proven System
(answer this to yourself before you continue reading)

Okay, I want you to imagine these:

Brain - (Psychology)
Heart - (Proven System)
Lungs - (Money Management)
Liver - (Entry)
Blood - (Exit)
Let me ask you again, which one is the most important?
(answer this before you continue reading)

If your answer is the brain, or the heart, or the lungs, or the liver, or the blood... then you're wrong!

Each are vital for survival. And each are equally as important as the other. Each are working as a whole and not as independent. They are all interdependent of one another. If one fails... Everything fails as a whole.

My trading philosophy puts emphasis equally to every aspect because I know if one is weak, it will affect the whole. If one fails... Everything will fail.

Amateurs are too busy debating, arguing and emphasizing on the one. Professionals are far away on a different plateau with their thinking and philosophy.

You dare come to the arena hoping you will take my money with your perfect Entry!
YOU FOOL!... I have a precise Entry... a deadly Exit... An impenetrable Money Management... A titanium Proven System... And the Excalibur of Psychology (discipline)... What are your chances against a foe like me!?
Hand me all of your money... Thank you, and come again!

The Gap between an Amateur and a Professional Trader

I need to identify the one degree that separates the Amateur and a Professional trader. What gives a Professional trader the edge?
.....
7 years of research and I have come to the conclusion that the difference lies not in a system, but in the discipline of a trader to follow a system.

Through my extensive research, I have no doubt (even bet my life) come to the conclusion that a simple system which consists of two Moving Averages (nothing more) is highly profitable to a Professional trader.



========================
Explanation:
"At 211 degrees, water is hot.
At 212 degrees... it boils.

And with boiling water, comes steam. And steam can power a locomotive. One extra degree makes all the difference. And, the one extra degree of effort in business and in life... separates the good from the great.

The average margin of victory for the last 25 years in all major tournaments combined was less than three strokes.
The margin of victory between an Olympic gold medal and no medal at all is extremely small.
At the Indy 500... the average margin for victory for the past 10 years has been 1.54 seconds.
The winning NBA championship can be as small as 1 point."
(excerpt from 212 degrees - the extra degree)

Believe it or not... the difference between an Amateur and a Professional trader is very small. It is the one extra degree of discipline that makes all the difference.

#copied

JLINE:
Bought audnzd with 40pips stop...target is .052** but my TP is open for now.

Trade doing fine,target still valid.

VeeVeeMyLuv:

learn the dance of the market
or better still, gance with the trend

Threads that have been 'reversing' and taking out stops at will? Trend and support lines that have been breached again and again? This period is for the market makers, simple.

You cannot always trade forex profitably. What happens this period is you lose back to back, only for the market to move in the direction you had expected. Then you stake higher, and the loss sets in again, and you say to yourself, "it is one of those; it will reverse again". Then margin call.

The greatest skill is knowing when to stay away!

Shalom

JLINE:

Bought audnzd with 40pips stop...target is .052** but my TP is open for now.
Trade doing fine,target still valid.

Target still valid but I closed the trade off the little already made...reason being the norm is attracting price and I will rather wait to re-buy than allow my profit run to zero. Re-buying at .0426 its waiting time.

JLINE:

Level hit and its a sell till the next target level at .0636 and .0613 ...will be waiting to long there or look for a way to enter sell as I already missed it. Forgot to place pending.

Eurusd...New low is at .064* a little more time and I might buy,just have to wait for the action and reactions of price at the above mentioned levels.

You believe what you are taught or your personal experience... There is nothing like loosing period, if everybody keeps off the market this period what then happens,no volatility but from what the chart says there has even been even more of it meaning more people are even trading and this are even the time to make more pips.

Got a valid move of audcad to .330* and if this move should occur,then will gladly pluck a minimum of 800pips and for this to occur oil has to be doing what I said it should have done earlier... Oil and cad similarities though. .24** is the target from where I plan to take my sell,patience.
EDIT : On second thoughts there are smaller norms,mids and m*fu...my other plan is to buy this pair from .308* to .330* and then the other plan play will be activated.

Uj valid 109.** ...cadjpy valid 81.8* ...gbpusd valid .20**
Gat lots of valid levels across many pairs,will play them one at a time...will look for best entry at various points to ride to these levels and then the big picture maybe.

JLINE:
Got a valid move of audcad to .330* and if this move should occur,then will gladly pluck a minimum of 800pips and for this to occur oil has to be doing what I said it should have done earlier... Oil and cad similarities though. .24** is the target from where I plan to take my sell,patience.
EDIT : On second thoughts there are smaller norms,mids and m*fu...my other plan is to buy this pair from .308* to .330* and then the other plan play will be activated.

Just sold usdcad and tp at .308. No predetermined stop yet till after the close of this 4hr candle.
EDIT : ERROR HERE,FIGURES DIFFER AND I MISTAKENLY QUOTED AUDCAD FOR USDCAD...I sold usdcad and TP is at .308*
Pics for clarification...

JLINE:

Just sold usdcad and tp at .308. No predetermined stop yet till after the close of this 4hr candle.
EDIT : ERROR HERE,FIGURES DIFFER AND I MISTAKENLY QUOTED AUDCAD FOR USDCAD...I sold usdcad and TP is at .308*
Pics for clarification...

Price already moved 8+ pips in profit,will wait for daily close to determine stop better... Gotta go relax mixing things up.

JLINE:
Uj valid 109.** ...cadjpy valid 81.8* ...gbpusd valid .20**
Gat lots of valid levels across many pairs,will play them one at a time...will look for best entry at various points to ride to these levels and then the big picture maybe.

Just sold gbpusd with 50pips stop and TP at .20**(500pips +)

Placed a sell limit for oil at 52.75 plus spread it becomes 52.70 and TP is at 51.20 with 30pips stop.

Placed a buy limit for audnzd at .0426 plus spread will be .0429 with TP at .0527(100pips)...stop at .0406(23pips)

JLINE:

Just sold gbpusd with 50pips stop and TP at .20**(500pips +)

Still valid

JLINE:
Placed a buy limit for audnzd at .0426 plus spread will be .0429 with TP at .0527(100pips)...stop at .0406(23pips)

Buy limit cancelled, thought it will be picked missed this one.

Buying nzdcad at .9548 re-test should have placed a pending here too.

EDIT: TRIGGERED.
EDIT: mistook this chart for another pair,price currently at mid and its more of a sell. New chart below.

Just sold eurnzd at .4732 ...will give target later.
Edit: target at .4535 and same thing with maybe 10pips stop and if you are not comfortable, kindly increase your stop.
Chart is pretty f*cked up.

Sold audnzd at .0527 target will be given later...
Edit: TP at .0426* took 2 sell trades here,these are the kinda of trade you take with 10pips stop...safe and sure...like those scammers always say ; FIXED MATCH.

That was how I lost 30pips on the audnzd and eurnzd trade...will look for another entry.
Till further notice.
SHALOM

GJ buystop @ 140.50
Stoploss @ 139.50
Target 143.00

NZD/USD and NZD/JPY?

Ghostfx:
happy new month, trade idea for this month is to sell both aud and nzd against the dollar.
sell aud/usd anywhere from here with a stop loss above 0.7710 or if a daily candle closes above 0.7700 then trade becomes invalid. first tp wld be 0.7595 and second tp wld be 0.7460.
sell nzd/usd anywhere from here with a stop loss or daily candle close above 0.7360. first tp wld be 0.7260 and second tp wld be 0.7190.

pls also do your own due dilligence and goodluck this week and this month.

OUR NZD/USD TRADE TP1 AND TP2 HIT. STILL WAITING ON AUD/USD

Ghostfx:






OUR NZD/USD TRADE TP1 AND TP2 HIT. STILL WAITING ON AUD/USD

Is anybody there? Pls what price did eurnzd close last nite?

Time to sell GBP/USD .... Pin bar at 30 min