EUR/USD

The Euro bounced off yesterday’s fresh low at 1.2795 and regained psychological 1.2900 barrier, sidelining immediate downside risk. This would open way for stronger corrective action, as near-term structure turned positive, with clearance of 1.2911, Fib 50% of 1.3027/1.2795 descend, seen as confirmation. Fresh extension higher would face 1.2930/50 as initial barriers, with key near-term resistance and breakpoint, standing at 1.3000/25 zone. As the price action stabilized within 1.2900/1.2860 range, the latter acts as initial support, along with 1.2850, 50% of 1.2795/1.2903 upleg, where corrective dips should be ideally contained.

Res: 1.2900, 1.2911, 1.2928, 1.2950
Sup: 1.2860, 1.2850, 1.2818, 1.2795








GBP/USD

Recovery rally from 1.5157, last Friday’s low, accelerated after breaking above 1.5200 barrier and extended to 1.5280 so far, near Fib 76.4% of 1.5321/1.5157 fall. Hourly studies are positive, however, the freshly established bulls will remain fragile, as long as 1.5300, 55 day EMA and key near-term barrier at 1.5321, 16 May high / Fib 38.2% of 1.5586/1.5157, stay intact. Break here, however, to confirm near-term base and allow for extension of recovery phase that would eye next targets at 1.5372, 50% retracement and 1.5400, psychological barrier. To keep bulls in play, corrective dips should be contained at 1.5200 support zone.

Res: 1.5262, 1.5280, 1.5300, 1.5330
Sup: 1.5220, 1.5200, 1.5180, 1.5157







USD/JPY

The pair trades in a near-term corrective mode, as yesterday’s weakness off fresh high at 103.29, extended to important 102.00 zone, where temporary support has been found. Quick recovery shows regain of momentum, as hourly indicators are heading higher, however, break above 102.75/103.00, previous high / round figure resistance, is required to signal an end of corrective phase and shift focus higher. Current movements could be described as consolidative, while 102.00 and 101.80, 4h range floor, hold the downside, as daily chart bulls remain firmly in play.

Res: 102.75, 102.93, 103.12, 103.29
Sup: 102.00, 101.80, 101.25, 101.00







AUD/USD

The pair trades in a near-term recovery mode, as fresh strength that emerged from 0.9709 low, regained psychological 0.9800 barrier and so far retraced over 61.8% of 0.9912/0.9709 downleg. Hourly studies are positive and favor further upside, with regain of important 0.9920 resistance zone, 15 May high / Fib 38.2% of 1.0253/0.9709 / 55 day EMA, required to confirm near-term base and allow for stronger correction. From the other side, 4h indicators, emerging out of oversold zone and overextended daily conditions, are seen supportive for further recovery. Initial support lays at 0.9750 and should holds dips, to keep fresh bulls afloat.

Res: 0.9840, 0.9881, 0.9915, 0.9939
Sup: 0.9800, 0.9750, 0.9720, 0.9709

Hi all,

I've been trading using purely technicals for slightly more than a year and now i'm starting to incorporate equity themes and fundamentals on a longer time horizon.

Can anyone share with me eg i have a fundamental idea from the ISM, whatever economic indicator. and i decide on a sector to l/s.

I'm interested to know how to choose a winning and losing counter of that lot.
can guys here share with me how will you do your:
1. value chain analysis
2. forecast ratio analysis

to determine the best and worst? Thank you!

Also how do you fundamental guys determine an upcoming equity theme.

Hello.
Obviously I am new, and would like a little help, if anyone has a little time.

I'm 21, and after stumbling around this site, and topic, it seems to be a lot more of an interest than I ever thought it might.
Some time later, I decided I'd like to really try my hand with it.

So I would be very grateful if anyone has a direction to recommend starting in.

I'd like to say that I'm anticipating a lot of time and effort to be invested.
I know that you absolutely cannot expect to start and prevail without years of experience.
Id really like to learn about trading, starting from scratch.

Also, does anyone know where I can find any demos I can use?

Thanks

Its their any website out there that offer Trading classes ?

Does anyone know of any sites similar to Profit.ly but for forex?

These trades are neither time-consuming nor attention-demanding. Whether they’re profitable is another matter.

I’ve seen many similar ideas dismissed - and perhaps rightly - as “essentially random” and “invalid”, and am interested to discover whether the timing, here, might make this one any better.

For Cable and for the Euro, just before 3.00p.m., I’ll identify the high and the low between 1.00p.m. and 3.00p.m. (UK time: the first half of the daily period during which both London and New York are open), and enter (usually) limit orders at 3.00p.m., good for two hours only.

Cable - two OCO limit orders: long entry 2.5 pips above the 1.00-3.00 high, and short entry 2.5 pips below the low, each with a profit target of 21 pips and trailing stop of 21 pips. For the Euro (EUR/USD), exactly the same but TP 18 pips and TS 18 pips.

There’s a vague similarity between this and something called the “Big Ben Method”, or something similar, I think? I believe that was/is based on London early morning trading, and that it may be based on so-called “overnight support/resistance levels“? My own suspicion is that overnight ranges/levels don’t signify nearly as much as ranges when trading’s active on both sides of the Atlantic?

I’m hoping that the price movements that trigger the opening of trades with this system will, overall, be something more than just random volatility.

For the moment, I’m planning to keep it as simple as that. Possible improvements to think about in future might include …

1. Not entering a trade if there seems to be a significant chance of its quickly hitting resistance, on the basis of recent levels of support/resistance

2. Filtering the trades according to underlying trend (however defined)

3. Filtering trades according to what proportion of the ATR is “already accounted for”

4. Entering on a pullback rather than on the initial breakout (conceivably better for the Euro than for Cable? Not convinced about this)

Comments/suggestions/observations are welcome. With no intention of limiting the conversation I’d like to mention a few little points in advance …

(i) I’d be interested to hear any perspectives on TP’s and SL’s (my normal trading doesn’t use either of the ideas of TP’s and SL’s employed here), bearing in mind that my specific, perhaps-too-ambitious, perhaps-inappropriate objective is for non-time-consuming, non-attention-demanding trading. I always instinctively feel that entries are “relatively easy” and it’s perhaps exits which primarily determine one’s fate and fortune

(ii) for myself, I have no great interest in any suggested improvements involving “indicators”

(iii) I may not be able to post every day, and will often post after the trades (the method is of course relatively objective and the trades easily enough retrospectively verifiable - I‘ll take my figures for this thread from Oanda charts)

(iv) There may be a decision to be made about whether it’s worth trying anything like this, at all, on Friday afternoons?

(v) It’s unclear to me whether this idea, if it works at all, is truly based on support/resistance rather than on trend

(vi) It might occasionally be necessary - as the parameters are currently defined - to use market, rather than limit, orders (and sometimes even to miss a pip or two, as well)?

I was just wondering what is the typical timeframe people trade from in forex?

Fellow traders,

I was wondering as a beginner how big the bid and ask spread could be during midnight in Chicago/New York of following futures:
[*]Wheat futures[*]Gold futures[*]E-mini[*]Corn futures

Thanks and cheers!

Here comes the tutorial promised in the 100-pips-robot thread. I'll post the lessons step by step over the next days, and will answer questions if something is unclear. The curriculum:

Lessons 1 - 3: Writing a script. Variables, functions, branches, and loops.

The first 3 lessons can be skipped over when you already know MQL4 or a similar C based language.

Lesson 4: Developing a simple trend trading system.

Lesson 5: Developing a counter trend trading system. Optimizing and Walk-Forward testing.

Lesson 6: Developing a portfolio system that trades with several methods and currencies. Improving profits with money management.

Lesson 7: Artificial intelligence. Using machine learning for automated price action trading.

Lesson 8: Programming a robot that generates 100 pips daily - guaranteed! ;)

None of the trading systems in the lessons use any technical indicators for trade signals.

The course will go over about 2 weeks and is based on my C trading tutorial. At the end of the first 4 lessons you should be able to write a simple automated system, and at the end of the whole course you should be able to write complex and profitable strategies. If you do not understand something, please give feedback here, so that I can improve the tutorial.

For for running the script examples and testing the strategies you'll need the free Zorro platform. It's available on my website Link Removed. We can't use MT4 or MT5 for the course because they need a lot of C code even for simple tasks, so the examples would be too long and complex for easy understanding. There is also no proper method to test your system in MT4 or MT5, but testing is essential for system development.

Ok now I am sure I am going to get some LOLz from this but it's a genuine question.

I've seen a few articles and papers about random trading strategies and how they can beat a fair chunk of investors performance quite regularly.

Things like...
PLOS ONE: Investment Strategies Used as Spectroscopy of Financial Markets Reveal New Stylized Facts
Computer Simulation Suggests That The Best Investment Strategy Is A Random One - Forbes
What do people think about this?

I think it sounds interesting and could be fun to try, with a very diverse set of shares, funds, etfs or something, but I would want to use some risk management on it.

Thoughts?

I was looking for a nice steadily rising share, mainly for spread betting. The AIM share LO-Q was great in this respect, until recently when it rose just a bit too much about a month back and has fallen ever since. It's a good company so hopefully will get back to it's previous steady (boring almost) rise. I prefer this type of share generally. Thanks.
:sleeping:

Hello,

I'm interested in knowing the lot volumes of lead and copper traded on the LME. I'm interested in knowing the volume traded every 5 minutes.

Which data feed provider for the LME works in AMI Broker?

I have finished my new tutorial about automated trading and robot development - is anyone interested in it?

The tutorial is divided in 8 lessons. The first 3 lessons are about script writing, the next 4 about strategy development and artificial intelligence. The last lesson explains how to develop a robot with the following performance figures:

- 95% win rate.
- average 100 pips profit per day.
- about 1000% annual return on capital.
- verified with live trading on a real account.

People with some coding experience will probably say: Such a robot is not possible. Yes, certainly not with normal TA, but I'll explain a new and highly profitable method that is used by professionals, but so far has never been published as to my knowledge. Some statistics is involved, but the method is easy to understand (I hope) ;).

If there's interest, I'll post the tutorial here lesson by lesson over the next time. Anyone wants it?

Hi guys,

going to keep it short. will be posting my trades on here. quit my day job to focus on trading as i think i can be profitable. aim is to get recognised by a well reputed prop firm or fund that will give me thier money to trade with.

I dont have a fixed method of trading. I trade all time frames and use vairous methods form flags, pennants to trend trading and multiple time frame analysis to plane support resistance and break and bounce of trendlines. will add more later.

KING

cos most of my trades will be pending orders i will only post trades that get triggered. i want to make this as transparent as possible. This journal is my CV to a 6 or 7 figure income. I will post my statement at the end of every week confirming all the trades i posted.

Will be risking 1% of my £500 account and R:R will be over 5:1.

When trade goes 3 times risk in my favor I will move SL to BE.

My strike rate is going to be very low and some times i will go through a losing streak and then a couple of winners will make me profitabel again. thats party of trading. I am happy with a 20% stirke rate. 20% strike rate over 100 trades will give me 60% growth in account.

Aim is to be profitable each month. Cant put a precentage figure cos you never know.

Will add more later

KING

Hi . Doing some work on historical us30 index prices. Could anyone tell me why the open price on the historical data page is usually considerably different to the 1430 price on the actual charts? . (same applies to close and 2100.)
(From UK so times are in GMT)

Cheers.

Hi'

I have just bought some software.
They are asking for my CID code to activate the software.
What do they mean ? Or is it a scam of some sort ?

Help needed

I accidentally bought £4000 of diageo so wanted to sell £2000 today (Sun), but you can't put a stoploss on, why? When I then try to do a limit sell instead at below the current price it says -' the limit is within the closing market price, do you want to continue to purchase?' Does this mean that limits are usually above the price and so basically saying that I'm doing a strange action?

But how else can i set a stop loss ?

Information for beginners - a series of posts gleaned from Forex Factory aimed at those hoping to become profitable traders rather than fodder for the peddlers of dreams infesting most sites these days. It cannot guarantee success but at least it might stop the bad habit of putting your hand into the sharks mouth:)
Some will go on to becoming profitable traders; eventually the biggest obstacle to success is you.:)

Information For Beginners @ Forex Factory

Hello everyone,

My name is Harry Ross and I'm a new forex trader.

I saw a software product and training program called FX Money Map/Grids advertised out of London that seems to use moving averages and fibonacci levels across multiple time frames. From what I understand, it costs a couple of grand plus a monthly data feed charge, so before I jump in, does anyone have any experience using this software, good or bad? Secondly, are the indicators available with MT4 and if so, what are they called.

Very much appreciate some feedback from other traders.

Regards,

Harry

Hi Guys,

I am looking for Futures Broker in Canada who give access to the Nymex online.

Any recommendations ?

Thanks...