The Structure of Forex Brokers
There has been much discussion of late regarding broker spreads and liquidity. Many assumptions are being made about why spreads are widened during news time that are built on an incomplete knowledge of the architecture of the forex market in general. The purpose of this article is to dissect the [...]
Gone back to trading the Daily
I came here because I wanted more action than I was getting trading the Daily and soon found out that the action I got (pressure) was way more than I could handle.
I learned that I am more suited to doing a 20 minute analysis over 10 pairs after 2pm (PST, [...]
I hope I’m not flogging a dead horse but from my post #1532 I wrote about how reducing my lot size from $10/pip to $1/pip removed my fear of losing.
It’s those gremlins, demons, inside all of us that want us to make a killing to better our standard of living. By following the gremlins and [...]
Belief Statement from a professional CME Floor Trader
For those of us that are battling our psyche, emotions, the little man inside our head and the guy in the mirror when we are trading, I use a Belief Statement I got from a professional CME Floor Trader. I read it before each trading session and find [...]
AUDUSD:
Weekly:
Made a higher low at major support but still has some downward momentum left over from the last down cycle. The retrace could only manage 32.8% and with the 20 paralleling below the 50 it is telling us there are still lower prices ahead. This week’s higher volume suggests a shot at major resistance at [...]
This is my 17th year of trading having traded everything that you can hold, eat, smell, taste and grow. I started out on the Daily time frame, blew numerous accounts and over $200K. I have bought books, videos, tapes, dvds, systems, black boxes, and paid stupid, stupid money to attend seminars by those famous $million [...]