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So to keep it simple, this is just drawing trend lines, and then using breakouts to get into a trade. But this guy Tom, is using and indicator to draw the trend lines for him? Is that really necessary - Or is he getting a program to do it so he can work an ea into it or something.

Dave thanks for sharing, you should be able to post a link using the toolbar above. I know martingale can work, that's how all the guys on zulutrade manage their subscribers money :) I always like to think worse case scenario, so any good martingale system would need very well planned system...

The idea I had here was to create a hedging model that would recover losing trades without any more initial risk. But the problem is I over looked part of the calculation and the term "there is no free lunch" smacked me in the face. No matter how you do it, if you decide to hedge a trade - you...

Usually 2-3 candles will be the limit. If it hasn't triggered by then - the trade idea has probably fizzed out.

I think you should just focus on a handful of major currency crosses. The classic ones like EURUSD, GBPUSD, AUDUSD, USDJPY, EURJPY, GBPJPY, AUDJPY and maybe some other crosses like EURGBP, EURAUD, GBPAUD That's enough to get started.

Checking the markets at the London open is a good time for you to check for those asian session fake outs. If you are looking to trade the end of day setups, then the new york close is really where you want to check for these trades, especially if you're going for retracement orders. breakout...

I've got no clue how the banks or hedge funds trade. There are many people who claim to have secret bank strategies and try sell them to you, when you think it about for a second you know how stupid that kind of pitch sounds. The banks, or major hedge funds wouldn't allow that sort of...

Please tell me you were long for that big slippage spike.

The commentary is inside the war room section. Occasionally, I will place posts up on the front blog when there is something going in the markets.

Can you be more specific, when you changed the colors on the chart they didn't change on the current chart, or when you applied it onto new charts?

It depends what your criteria is exactly for an engulfing candle. Are you using the PA Battle Station Indicator tool I made? I can easily program Outside Candles into that.

You're welcome

I've played around with channel breakouts a lot, and text book entries are usually to take the break of channel highs or lows, but the problem is many failed breakouts occur here. Like you've shown it's better to find better entry criteria off channel techincals, like buy off channel bottoms or...

I've started working on a Rejection Candle detector as promised It's in the early stages yet, but I've got something coming to life. I am hoping to put some more filters in there to blank out the obvious bad candles. This is something I've wanted to do for a while. When I've got something...

I am not sure how the cashback system works. I am going to re-do that page - it needs to be fixed up to accommodate for other brokers. Initially I was just working with Go Markets UK, but Go markets AUS have come on board now and also a US broker.

Thanks very much Jason. Welcome and look forward to continued trading with you.

Welcome aboard DejaV00

Elliot wave has it's merits, but it becomes too complicated too quickly and frustrating for the trader. Fibs can get out of control quickly also. Price action trading is the way to go, and any trading system will benefit from the knowledge of reading charts at this level.

Welcome, as traders we become what we are by learning from mistakes and building up from them. Just be cautious at the moment as the markets are very quiet as we are in the middle of the Summer trading season.

Thanks for the share, I am hoping to make something like this - I actually did make one years ago I have to dig it up and fix it up for the war room.