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- Submitted May 10, 2011|From forexpipster.com|71 comments
The relationship between Forex trading, or any trading at all, and gambling is one that we professionals are asked to address regularly. I get this question quite often socially. I live a somewhat social life, and have many friends that I dine with ...
- ericstevens replied Apr 13, 2011
I posted this find a few days ago. Still shocked it's not getting a bigger response on this forum. url The blog post attached to the image explains the deviations you are seeing. Welcome to the world of FINANCE!
Chart Diffs?
- ericstevens replied Jan 26, 2011
Turveyd, you have to be kidding me. Nothing over the 15M is tradeable? Is that a joke? Of course trading the H1 is tradeable. That's where the money comes in. Do you think the Swiss bank is coming in on some 1M level? That said, I first posted on ...
Who is using one minute charts to trade?
- ericstevens replied Jan 18, 2011
Apocalypto, Yes, I have to take my statement back. It was more a figure of speech. Of course a trend exists; and of course s&r exist on a 1m chart. I suppose what I was getting at is that I find it hard to believe the levels have much merit on a 1m ...
Who is using one minute charts to trade?
- ericstevens replied Jan 15, 2011
What's your spread? 3 pips? Seems super dangerous to even bother with an approach like that.
Best entry to make 3 pips only
- ericstevens replied Jan 15, 2011
I think PA is valuable only when considering liquidity relative to the PA. Those links consider a 5 min chart for 12 hours. That seems like a method that's being traded in a wide range of markets.
Guide to price action
- ericstevens replied Jan 15, 2011
And woo, you're not 1:1. Looking at your blog, it's clear you're not even close to 1:1. You're cutting trades short and getting a lot of small wins... of varying sizes. The statistical danger in that should be simple for someone of your ability.
how to handle yourself
- ericstevens replied Jan 15, 2011
This is the best piece of advice I've seen on this site. When it's going really good, just be fortunate that it's going really good. Don't think that you've now mastered the game, and can start throwing around heavier trades.
how to handle yourself
- ericstevens replied Jan 15, 2011
Phillip Glass' Mishima is a favorite piece if I'm losing focus. Very emotional, yet seems to extract the emotions from trading.
What kind of music you hear while you trade?
- ericstevens replied Jan 14, 2011
You know something I do not. 1 minute trend... this sounds like Guru talk... but if it makes you money, I wish you the best. And also wish for you to PM me info so that I can learn further. Because imo, we retailers are not market makers.
Who is using one minute charts to trade?
- ericstevens replied Jan 14, 2011
Breakouts are hard. There's something called the "squeeze." Market makers love to do it to people. The third test is usually the highest percentage play for a breakout, but in truth, the best pro I know gave up on breakouts... and this guy is no ...
Selling after breaking the down trend: Is this a chance?
- ericstevens replied Jan 14, 2011
I think trading is healthy only if your entries are as comforting to you as slicing an apple. This took me forever. But now, even with decent sized trades, it's a system that I play, and statistics that I make money from. Nothing more... nothing ...
is trading good for your health?
- ericstevens replied Jan 14, 2011
In LA, and I either trade the London open 11-2 or NY open 5-9. Tried both for a while, but got really worn out. It's best to live in Europe, I suppose.
Trading in California (PST)
- ericstevens replied Jan 12, 2011
The levels are not hard... so no. But the market, for the most part, is made up by pros who know how to spot levels, and they trade their resistance and failure accordingly. A level is just an obstacle. Sometimes levels hold; sometimes they don't.
Is market action based on predetermined levels?
- ericstevens replied Jan 12, 2011
I think your definition of trend needs a slight adjustment. Your red and white lines are very close to the bars. Try three MAs. Maybe 25, 50 and 100. I think this will help clarify the idea of trend. Cheers!
Trends within different Timeframes
- ericstevens replied Jan 12, 2011
Correlations are an advanced way to trade. I don't know that it's of use to say that they are directly aligned. Yes, they do share commonalities, and yes, the dollar index does seem to govern overall movement, but to claim it's simply a string, and ...
Need help understanding markets in 2011
- ericstevens replied Jan 12, 2011
Gann and timing fascinate me as well, and I'd like to take my trading to that level, but the issue I have with timing and the market is that, particularly on smaller time frames (30m) the ebb and flow of intraday dynamics seems to threaten the ...
Exit strategy: Timing and aiming
- ericstevens replied Jan 8, 2011
1 minute chart is in the white noise. This is a fact. Unless you are trading levels of value, the statistical probability of coming up with 1 min chart trading is low. Make trading easy on yourself. Or easier... :-)
Who is using one minute charts to trade?
- ericstevens replied Jan 8, 2011
I don't make an entry without a defined target. The market is fueled by orders. This took me a while to translate mentally. Many traders I know who trade daily still don't understand what moves a market. And after some time with this idea, I ...
Exit strategy: Timing and aiming