surveycash:

currentprice, unclenna, ALERT ALERT ALERT , man of the moment - olly12. I see you all

@Zionplace, Edd1e, seems the patterns have gone into hiding. Can't seem to spot them anymore. The ones I spot, chop my money. Does this sound familiar?

The fact is "you can't win them all". Pattern fails every time talk of; harmonic patterns, chart patterns (triangle, channels, h&s, DB,DT,etc) but when they do work, we feel lyk a boss. "The market will always do what's gonna do", we just have to let our winners be more than losers..

lol maybe am the only one seeing this just a simple 30-40pips trade

I hope no one in this room was caught in the wrong side of the NZD interest rate cut?.GBPNZD shut up with 440pips in 5mins

frenchman2:
Sellstop gbpjpy @ 159.50
buy stop usdchf @ 0.9970
buy stop gbpcad @ 1.9085
sl 70 ppips
tp open
Let's see how they play out
NB: Nothing is guaranteed. Price could just do the opposite and rubbish my analysis.

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

Usdchf + 12
gbpcad sl hit
Gbpjpy sl hit

I was following the pair, had some position close and trailing some on both gbpnzd and eurnzd, didn't know there will be news on nzd, that's why it's good to set up stop losses...

OLLY BABA i dnt mind having it muckvic@gmail.com.......to all gurus in the house i hail oooo

olly12:
lol maybe am the only one seeing this just a simple 30-40pips trade

Wrong move olly jay

Can i have sound mentors?

Good ppl in the house, I am completely new with no knowledge at all. I want to join forex trading. I want you guys to advice where to get reliable training and guide including demo and good broker.

Thanks and wish you all profit and no loss.

evergreen247:
Good ppl in the house, I am completely new with no knowledge at all. I want to join forex trading. I want you guys to advice where to get reliable training and guide including demo and good broker.

Thanks and wish you all profit and no loss.

dont try it if you are not disciplined and patient

Hallos Pip Slashers,

Dunno if anyone is going through this "HEAT PERIOD" ....I wake up each day as if I was chased in my dreams, dripping wif sweat.

The no fuel and no light has not helped in any way too...

Anyway's today's trade is on EUR/NZD....

Happy Slashing

PIPsharingan:
Hallos Pip Slashers,

Dunno if anyone is going through this "HEAT PERIOD" ....I wake up each day as if I was chased in my dreams, dripping wif sweat.

The no fuel and no light has not helped in any way too...

Anyway's today's trade is on EUR/NZD....

Happy Slashing

Nice trade, the news candle took out my stops yesterday, enter another sell, though I am willing to ride it for lyk 2 months if possible, looks like the kind of trade set-up I love on daily chart....

@sojmann that call was not a wrong call it hit my take profit target which is the 20 ema at the center. look closely that is where i placed my take profit. Todays call

FxDuke:

dont try it if you are not disciplined and patient

I believe I am and am not going there to be greedy. Just any helps will be appreciated. the article in Babypips.com is enough to dive into demo?

@ shevy
"Today has been great for us

Una well done and bye bye.. "


[/quote]
Nice knowing you going on strong. Keep it up bro

Buy EU

sweetmaris:
Buy EU

Alert!
Sell AU

sweetmaris:
Buy EU

@ 1.45pm I should sell EU because of ecb decision to cut rate and move out with maybe 50 pips. nawa for some gurus alert

what is going on?! what is going on?! what is going on?!!!!!

Hello Pip Slashers,

My TP was hit and my sword dripping with the foe's blood this time... got 251 pips and 1.7% added to my account.

In Summary: 4 trades
3 bad trades
1 good trades
+18 pips
- 0.9%

Happy Slashing

mrikay:
what is going on?! what is going on?! what is going on?!!!!!

The European Central Bank cut interest rates on Thursday to boost the euro zone economy, surprising financial markets by dropping its main refinancing rate to zero from 0.05 percent.
It also expanded its quantitative easing asset-buying program to 80 billion euros a month from 60 billion euros and cut its deposit rate to -0.4 percent from -0.3 percent, charging banks more to keep their money with the ECB.
The moves - which knocked the euro down 1 percent against the dollar - reflect the ECB's struggle with falling inflation expectations and worries about ultra low price growth.
Attention now turns to ECB President Mario Draghi's 1330 GMT news conference.

abbeyforex:


The European Central Bank cut interest rates on Thursday to boost the euro zone economy, surprising financial markets by dropping its main refinancing rate to zero from 0.05 percent.
It also expanded its quantitative easing asset-buying program to 80 billion euros a month from 60 billion euros and cut its deposit rate to -0.4 percent from -0.3 percent, charging banks more to keep their money with the ECB.
The moves - which knocked the euro down 1 percent against the dollar - reflect the ECB's struggle with falling inflation expectations and worries about ultra low price growth.
Attention now turns to ECB President Mario Draghi's 1330 GMT news conference.

us initial unemployment claims is down meaning a healthy us economy so I keep on selling EU. news released 2.30 pm. + ichimoku backing

price crossing kijun sen means position closed on eu

una de wetin de happen

FOUR QUESTIONS TO ASK YOUR TRADING STRATEGY?

Georgia Institute of Technology found that humans continued to follow a robot to lead them out of a high-rise building, even after it made a series of dumb mistakes, like taking a circuitous route, or pointing at a corner, appearing confused, even after they’d been told that the robot had broken down!

This may sound all too familiar to those of us who trade. Following the rules of a trading system, after it’s just lost its fifth trade in a row … can feel a bit like blindly pacing the corridors while everything around you going up in smoke.

It’s a tough balancing act – being a disciplined trader, but also recognizing when your system is broken and needs a fix.

Here are the all-important questions you need to ask …

1 • A loss isn’t necessarily an error, or is it?

A losing trade isn’t a sign of a mistake in itself. All trading systems will take losses. It’s up to us to recognize whether a few losing trades is just a run of these expected losses – or a sign of something more serious.

So, how many nasty runs of losses is okay? And how many is too much?

There’s a simple piece of maths that can help us here, as long as you know what the expected success rate of your strategy is …

The probability of taking 5 losses in a row = (losing rate) to the power of 5

So, if you expect to lose 45% of your trades, then the probability of taking four losses in a row is …

(0.45)^5 = 0.0185

Which equates to a probability of 1.85% – that’s your probability of getting a run of 5 losing trades.

It may not sound like a lot, but if you’re trading hundreds of times a year, these runs are going to crop up.

2 • Has this strategy been rigorously tested?

If you’ve developed the system yourself, then you’ll know exactly what kind of trials you’ve run – how long you paper traded, in what market conditions, and what tweaks you made over that period.

If it’s a strategy or piece of software developed by someone else, then you should know what kind of testing they’ve done. However, system developers who are really rigorous in their testing are few and far between. I spend a lot of my time pouring over other developers and traders results – and unless it’s an active trading account, there’s heaps of room for wishful thinking and hindsight wisdom.

Sometimes this is people being downright deceitful, but often we delude ourselves with our testing – we look at an old chart and tell ourselves, ‘Well, obviously I would have got out of this trade at X, just before the market rebounded, because of Y and Z’.

If you have any doubts about the quality of your system’s testing, then I recommend you go back to paper trading until you’re confident. If you carry on trading, whilst still having all these feelings of doubt, you’re unlikely to keep disciplined and consistent.

You need to believe in the system you’re trading.

3 • Is there something exceptional about current market conditions that you’re not taking into account?

There is no such thing as ‘normal’ market conditions. But there will be market conditions that your system has been tested through already – like a bull market, a bear market, high volatility, low volatility. Has it already shown itself able to cope with these? Do we know that it struggles in such conditions, but that this is a storm we can weather? Is there a filter that would help us here?

If volatility is up, should we consider adjusting our trade parameters to allow for this?

(Don’t jump into making adjustments – keep reading for more info on how this is done.)

4 • Is this hurting you?

No one likes the feeling of losing money. And losing trades, when they come in a row are especially nasty.

But there are draw downs which are an annoying part of trading … and there are drawdowns that leave us in a sweat, unable to sleep at night for fear of what our open positions are doing.

Yes, traders are people who are prepared to take greater risks with their capital than those who leave their money in savings accounts … but trading isn’t (read ‘shouldn’t be’) an extreme sport. You have nothing to prove by pushing your risk – and you have plenty to lose.

If your draw downs are too painful, there are a three courses of action you can take:

1. Reduce your stakes to a more comfortable risk level.
2. Introduce a drawdown limit, where you stop trading once your daily/weekly/monthly limit is hit.
3. Both of the above.

Trading with trust

Ultimately, we won’t succeed at trading unless we have trust in the system we’re using.

If you don’t trust it – you won’t be able to trade consistently and in a disciplined way.

But trust isn’t something that’s earned in one go – it builds over time, and needs to be worked on.

Market conditions change, so a system that works just great one year, might really struggle in a new trading environment the next year.

To build a long-term trust-worth trading strategy, we need to be keeping records and looking for adjustments all the time.

Here are the golden rules:
•Keep an accurate trading record: this means that you KNOW what your average win size is … what your average loss size is … what your win rate is. Each of these figures will give you a quick reference to take the temperature of how you’re performing and where you need to make any fixes.
•Be on the lookout for strategy adjustments that will improve performance: this could be adapting to extra volatility in the market, working around changing market correlations, or economic factors.
•Rigorously back test and demo test any adjustments before implementing them: never chop and change your trading rules without rigorous testing and consideration. Without this, you won’t be able to judge what’s working and what isn’t.

Provided you’ve built these things into your trading, you should have a system that can adapt and grow with your trading, and that you can rely on through thick and thin.

Until next time