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to have a good trading plan and to stick to it.

Hi everybody. Here is my trading plan for AUDUSD. Free foreign accent included !

NJ has just broke down 90 level, where thre is a strong resistance with two SMAS 55 and 100) and a weekly fib level as additional resistances. It is possible to enter woth a very small stop and to aim at 89 where is another fib line and the H4 SMA200. Great R/R ratio. enter lightly fro today is NFP.

I agree to that, but another thing is that if you cannot make it on demo, you will not make it on live, for it is even harder.

Agree with one minor precision :the strongest regulation will not always prevent a broker from insolvency (Alpari UK for instance). This is why I am not sure I will put it as number one on my list

You are right. Forex can hurt, and the sooner you get hit, the sooner you realize it a dangerous game.

I am taking part in one. As long as you understand it has nothing to do with real -or even demo- trading it is ok. I have a tendancy for that contest to take more risk that what my normal mannagement plan allows for, because there is no leverage is less and all position are closed every...

Generally you should avoid emotions while trading, but I ve been told of traders that needed adrenaline and excitement to be able to get into the proper state of mind. the were unable to trade while they remain calm.

You are damn right. Ranging, ranging ranging. Within two important fib lines !

Another thing. I used to be in Casey's Stubbs traderoom. He said once that they made a survey, and despite the fact they were profitable and were giving their trades in real time, only 30 % of the peopple in the room managed to be profitable. I do not know whether it was because of bad emotions...

I can only agree to that. My broker (Tickmill) is an offshore one, but during the CHF crisis all accounts were protected against negative amount. :D Many clients of some big regulated brokers thought the same, but there were wrong as they unfortunately discovered. :eek: :mad: So definitely...

Welcome to the club ! Except I will not trade 1hr before the news. As I am trading from the 4hr, the candle usually closes minimum 30 min after the news, when all the dust has settled down and you know whether it moved sommething or not but if someone really want to trade the news, the best...

Tolasforex, what does precising which broker you're at add anything to that post ? You could have spared us that. :confused: My broker is Tickmill, I like it very much too, but I do not need to remind it everytime I write a post in this forum ! ;) And to come back to that thread, the best...

Just an update. It is struggling very hard, but the daily delivers somethnig "as close as" a shooting star as it can be, and the pair cannot resume its former bullish trend.

Big banks and investment funds pay they their traders milions of dollars. Do you think they would do that if they could get the same result with a robot that costs a few hundreds or a few thousands bucks?

I will add my two cents, here. When calculating Stop losses you need to take into consideration the pair volatility, as slippages on ill-liquid pairs may be a real problem for a scalp trade. :o Another point is that on highly volatile pairs, natural volatility may squeeze out your trailing...

USDCAD monthly. Is it reversing bearish, is it just retesting a broken resistance and it is going to rise again ? Hard to say. My guess from a purely technical point of view is we are still going to fall, because it is already very expensive. But the pair is also clearly driven by...

99 % of people fail because they are looking for the "Holy Grail" system, the one that does not exist. Forex is about predicting the future, where something unexpected may always happen. So getting your stop loss hit does not necessarily mean there is something wrong with your trading plan, but...

On H4 GJ looks like it is trying to break the low around 176. It is standing on supports on every higher time frames: (SMA200 on Monthly Tf, SMA20 on DailY Tf, a support horizontal line on H4, and it is trying to break down SMA40 on the weekly Tf. The weekly suggests however there is an even...