There are moments in life which you remember, and the more your remember them the more you change them towards a more favourable reflection of ones self. It is one such memory which I wish to share to the forex street community many I can now proudly call friends.
Recently I had a bad week for one of my trading accounts. I made one stupid mistake which devastated one of my trading accounts and knocked my phycological level into the STOP trading zone.
The dust has settled and I…Continue
If you do not know how to recognize whether an currency pair is trending, in a countertrend mode, or a consolidation mode then you will get confused when you look at the lower time frames. Using multiple time frames is an advance optimization technique. Once you trade the daily time frame for a while, you will learn when price is trending, going against the trend, or in a consolidation pattern.
I think we can all agree that global economics has a…Continue
I was reading the fantastic FX Trader magazine today and they mentioned an interesting system to trade the EUR/USD.
I have extracted the following and was wondering if it might be possible to automat this approach for backtesting and perhaps profit.
The EUR/USD day-range robot.
This system is based on the "Opening price principle" developed by Earl Hadady for trading commodities. The principle states that 65% of the time, the opening price was…Continue
We are all told early on that Forex is a zero-sum game. But Im not that sure anymore. When I think of zero-sum games I think of a quiet game of poker amongst buddies. Sunday afternoons in the basement with beer and nachos. Whenever one of the players wins the money (winnings) comes from the losses of the other players (simples).
But head down to your local casino and the rules change. When the house takes a percentage of the pot or a fixed fee per hand the game becomes a negative-sum…Continue