Posted on April 17, 2013 at 1:26am 9 Comments 3 Likes
in the vein of blog posts venturing away from predictions, analysis, and trade entries, a trend i m quite pleased to see, i thought i would throw out the topic of drawdown tolerance for discussion.
it is important to understand ones draw down tolerance , and taylor a plan that does not exceed these limits.
early on in my forex adventure ( about 5 years ago ) i wanted to get my feet wet with live trading so i started trading a very simple strategy using atr. in 4 months i…
ContinuePosted on April 9, 2013 at 1:12am 31 Comments 2 Likes
A number of good people mentioned gu buys around this level without giving specific stops and entries. since it falls within my criteria for a buy as well i ll take it a step further and illustrate the trade. this trade could easily ( as always ) still turn into a loss. i like to try to post them fairly quickly after entering so its obvious i m not cherry picking. lets see what happens with this very smple s/r trade…
ContinuePosted on April 3, 2013 at 11:56pm 4 Comments 4 Likes
this post is intended for new traders who want a simple approach they can expand on and make thier as time goes on. it is not intended to to give triple digit monthly returns. just because you re not wayne gretzky doesnt mean you cant play hockey.
dont try to predict, just roll with whatever is happening. as you become comfortable with seeing the signs that a market may bounce off a level start to experiment with managing the process as it moves in your favor.
not sure where…
ContinuePosted on March 18, 2013 at 8:21pm 2 Comments 2 Likes
i thought i'd throw this example of trading pullbacks with the trend ( as i see it ) . once i determine something is trending i look for a pulback that is no less than 1/3 of the last move and know more than 100 percent of the last move. once it passes the 1/3 mark i start to look for a sign that it will continue on in the direction it was going. a signal can be something like a pin bar or two bars in a row closing higher ( lower ) . the target area is usually quite conservative. i usually…
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Brian Twomey said… Hi Talisman,
What I was trying to say but didn't seem to be clear was the forecasts ability of a EUR/CAD movement from the 253 day average can be forecasted with perfect accuracy. Its always been clear but obviously trying economic times is the only aspect that can disrupt the balance. Take care and appreciate the comments, we are alright
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