http://fxmadness.com/2009/12/30/general/goodbye-2009/ This blog goes where few traders dare - the exciting world of Forex outside the dollar! Tue, 31 Jan 2012 13:20:56 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://fxmadness.com/2009/12/30/general/goodbye-2009/comment-page-1/#comment-4745 admin Thu, 31 Dec 2009 16:30:37 +0000 http://fxmadness.com/2009/12/30/general/goodbye-2009/#comment-4745 Thank you, guys. Jason, most of these trades are discretionary, not systematic so they don't have fixed rules. I think that with EUR-CAD I started to look for reversal because it had already fallen about 1000 pips with one failed reversal attempt. For hourly chart of this pair it is a large move without some correction, so chances were fairly high for a bounce. It is not really quantifiable in a precise, statistical format. That's because situations are never identical, only have similarities. Right now 4H chart is building a bottom, so I might take a trade to the upside using that time frame after new year. Most of the trades are based on simple reversal pattern http://fxmadness.com/2009/08/18/general/common-reversal-pattern/ I'll try to cover other aspects as we get into 2010. Thank you, guys. Jason, most of these trades are discretionary, not systematic so they don’t have fixed rules. I think that with EUR-CAD I started to look for reversal because it had already fallen about 1000 pips with one failed reversal attempt. For hourly chart of this pair it is a large move without some correction, so chances were fairly high for a bounce. It is not really quantifiable in a precise, statistical format. That’s because situations are never identical, only have similarities. Right now 4H chart is building a bottom, so I might take a trade to the upside using that time frame after new year.
Most of the trades are based on simple reversal pattern
http://fxmadness.com/2009/08/18/general/common-reversal-pattern/
I’ll try to cover other aspects as we get into 2010.

]]> http://fxmadness.com/2009/12/30/general/goodbye-2009/comment-page-1/#comment-4744 Jason Thu, 31 Dec 2009 15:36:58 +0000 http://fxmadness.com/2009/12/30/general/goodbye-2009/#comment-4744 First let me say I really appreciate you sharing your ideas and trades on this blog. It is my farvorite trading blog since I found it 6 months ago. As for a suggestion/ request, could you breifly desribe your overall methodolgy and the setups you look for on your price action trades (I realize alot of this may be found in old posts - and I will continue to go trough them trying to learn more.) Sometimes you take a breakout trade, sometimes it is a more like buying or selling an extreme expecting a reversal. Is there anything else involved in your thought process for deciding which trades to take and how to take them? For example the recent EUR/CAD trade - was it just that you considered it so oversold that you figured it had to reverse a bit? Do you quantify the oversold condition or is it just based on visual observation of the chart? FYI - you are basicaly my trading mentor - anything you can share that would make me a better trader - I would appreciate it. Thanks First let me say I really appreciate you sharing your ideas and trades on this blog. It is my farvorite trading blog since I found it 6 months ago. As for a suggestion/ request, could you breifly desribe your overall methodolgy and the setups you look for on your price action trades (I realize alot of this may be found in old posts – and I will continue to go trough them trying to learn more.) Sometimes you take a breakout trade, sometimes it is a more like buying or selling an extreme expecting a reversal. Is there anything else involved in your thought process for deciding which trades to take and how to take them? For example the recent EUR/CAD trade – was it just that you considered it so oversold that you figured it had to reverse a bit? Do you quantify the oversold condition or is it just based on visual observation of the chart?
FYI – you are basicaly my trading mentor – anything you can share that would make me a better trader – I would appreciate it. Thanks

]]> http://fxmadness.com/2009/12/30/general/goodbye-2009/comment-page-1/#comment-4742 Black Thu, 31 Dec 2009 07:28:07 +0000 http://fxmadness.com/2009/12/30/general/goodbye-2009/#comment-4742 Nice work, all the best in the upcoming year Mike! keep up the trading posts and screenshots! Nice work, all the best in the upcoming year Mike! keep up the trading posts and screenshots!

]]> http://fxmadness.com/2009/12/30/general/goodbye-2009/comment-page-1/#comment-4741 admin Thu, 31 Dec 2009 05:56:33 +0000 http://fxmadness.com/2009/12/30/general/goodbye-2009/#comment-4741 Same to you! Same to you!

]]> http://fxmadness.com/2009/12/30/general/goodbye-2009/comment-page-1/#comment-4740 Michelle Thu, 31 Dec 2009 05:08:45 +0000 http://fxmadness.com/2009/12/30/general/goodbye-2009/#comment-4740 You crack ne up! "Your meager abilities". Well, happy New Year! And even more pips in 2010, if at all possible. You crack ne up! “Your meager abilities”. Well, happy New Year! And even more pips in 2010, if at all possible.

]]> http://fxmadness.com/2009/12/30/general/goodbye-2009/comment-page-1/#comment-4739 Damian Thu, 31 Dec 2009 05:06:43 +0000 http://fxmadness.com/2009/12/30/general/goodbye-2009/#comment-4739 Mike, Happy New Year and I'll join you again next year! Mike, Happy New Year and I’ll join you again next year!

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