Warren Forex

I place my stops after I have my position or positions. Sometimes my stop is placed as it drops if shorting so I lock in profits. Explanation is that I time my entry to coincide with top of bollinger band and change in SAR direction. That is why I do not know my STOP position when I enter the trade. I hope this explains it for you. Good Trading

This week I will continue shorting USD/JPY ever time it reaches Pivot Points and or Resistance. Last Week was great shorting every time it ranged over 1.1915 to 1.1930 and riding it back to 1.1850 I think the same pattern might hold this week. It seems to have a new range now below 1.1850 to 1.1800 Good Trading All !

The secret to making profits is to protect your capital to live to fight another day. I trade FX and I use stops in a unique way since I time my entry and then in most cases my stops have already locked in a profit. I used to trade currencies via futures and I always entered my STOP right after getting my position filled. Also NEVER lower your STOP once you put it on. If you are wrong take your loss and try another trading plan. Plan your trades and "Trade Your Plan" Your points are very valid. Murphy's Law does still apply.

Thank you. I will give it a try. My only purpose in posting this information is to help FX traders improve their results. I enjoy teaching and learning at the same time. Having a good understanding and skills in the TA side of Forex trading is important. I use one minute, five minute charts as I get in and out of positions quickly. I use the basics such as Bollinger bands, SAR (Excellent Indicator), MACD, RSI and EMA. I am however definitely a fundamental trader. I really understand the world economy. If you really are serious about being a winner you need to understand the nature of the market. The relationship of oil prices, gold prices, interest rates, bond yields etc... You can get much of the real facts for free by just taking the time to read, learn and understand. Here are some of the best sites to go to. (1) http://www.financialsense.com (2) http://www.321gold.com (3) http://www.jsmineset.com Try to go to these 3 sites once a day and spend one hour reading whatever interests you. I would be glad to answer any questions that come up ! What is the difference between price inflation and asset inflation ? What causes inflation ? This is BASIC but if you do not understand it then when you hear Bernake say he is a inflation fighter you will actually believe him. the FED causes inflation by running the printing presses. That is some of what I have to share. I could share principles of Risk Management and Money Management. That is it to start. Good Trading:)

I had a friend who recently died of cancer. He once published these trading rules that he followed. I use most of his rules that always work if applied properly. For the benefit of those that really want to improve and in his beloved memory here are his rules published in a futures magazine. FINALLY... I’d like to share with you “My personal parameters for successful commodity trading,†provided by FS, a TIF subscriber. I think these are great and they mirror many of my personal trading rules. Serious traders, consider this a “keeper.†Here it is in Fred’s words: With regard to ‘my’ rules, most of them have been around a lot longer than me and although well-known on the logic level, are sometimes difficult to implement/execute. Personally, I think the most important rule is the first one since all the others are essentially predicated on it. Keep up the good work with TIF! 1. NEVER trade with funds you cannot afford to lose  the stress will negatively impact your judgment. 2. NEVER put on a trade without a SIMULTANEOUS stop loss. Period. This is seminal. 3. NEVER change a stop loss except to move it up/down as a position moves in your favor. Otherwise just let the stop loss take you out of the position within predetermined parameters. 4.When in doubt  for whatever reason (instinct?) – GET OUT. 5. Avoid overtrading. 6. When trading profitably, get AGGRESSIVE. (We all have “streaksâ€Â!) 7. Never use more than 50% of your equity at one time and, depending on the size of your account, make certain that no SINGLE trade uses more than X% of your equity. (I use 4%.) 8. Never add to a losing position. PERIOD. 9. Forget your EGO because the market is ALWAYS right  PERIOD. 10. Have patience in winning trades and give them time to “unfold.†11. Determine in advance what your TIME parameters are for a trade, as this will impact both strategy as well as predetermined RISK parameters. 12. Money management is at least as important as trade selection and can be MORE important. 13. Trade multiple markets but not more than SEVEN at a time. P.S. These are my friends rules which I had been following before I met him a few years ago. These were rules that were published in TIF magazine. I endorse these RULES 100% He was a commodity trader.

I could post here a half dozen ways that anyone could improve their FX trading and I just might do that. I have had experiences in the past posting on FX forums that those with the desire to fail and 95% do just ignore the information and try to convince you that you are wrong. I wonder if this FX forum might be different ? One quick point is without understanding the fundamentals it is almost impossible to be a consistent winner in FX trading.

There in my experience is only one way to ensure FX trading success. My results prove that the method that I use to trade is a winning method. If the method that I use is published the results for other FX traders would not match mine. The reason is that human psychology is the most important factor in being a winning trader.

I really enjoyed your post. Why not start such such a thread for long term FX traders ? By sharing we all learn and grow. Thank You...

The Number was 51,000 However August was changed to 188,000. I called 75,000. The increase was 60,000 for August 2006. Should this have mattered ? Of course not. Did it ? Yes it sure did and the EUR/USD is now 1.2592 To 1.2595. What does the August CHANGE have to do with the PRESENT USA economy ? NOTHING AT ALL !!! SPIN SPIN SPIN !!! Unless you understand why this happened it probably is the reason why FX trading is a losing game for most. Let me ask this one question to establish my reasoning. Is the US Dollar more valuable after the release and has the US economy improved or not ? The answer is the US Dollar has less value and based on 51,000 NFP which is a MAJOR disaster as relates to the future US economy. THe FED will CUT in 2007. The US Dollar now has less value. Then WHY did the US Dollar go UP so drastically ? INTERVENTION. MISINFORMATION. Technical Indicators TRIPPED. HEDGE FUND BLACK BOXES. INACCURATE MARKET SPIN. Is this USUAL ? YES..... One last item. November Mid Terms that might change EFFECTIVE control of the USA Government or at least STALEMATE it. Now that there is some understanding of what actually happened. How can you benefit financially. Buy 1/3 of your Positions in EUR/USD into weakness. (I am a BUYER now) Sell 1/3 of your Position into STRENGTH. Not in a Position now ? If you agree on my opinion after you research it yourself then take a Position within Risk Management Criteria and HOLD 2/3 of you Position longer term. Perhaps as long as one month. Does anyone have any comments or questions ? Thank You. BWM

I agree with you based on TA alone. However that ignores the TRUE state of the Economy. I will expand on that after the ECB Announcement. Thank You

That is an excellent idea. I am very bullish on EUR/USD at the moment. I am long substantial at the moment. I expect rate increase ECB with hawkish comments. The NFP might be under 75,000 on Friday. Gold is down and Oil is down and yet Euro has held and is over 1.2700. I expect a breakout next week to the upside and I am trading that way. The Fed is done in 2006 and the rest are not. Watch for October surprises. The Dow is ready for a tumble shortly. Good trading.

In Canada I act as a Currency Trader Advisor for two corporations and a number of private investors. No license or government approval is required at present time as FX is NOT a security. I do not deal with the general public. Man Financial however needed to confirm my ability before accepting me as a CTA for their clients. Please note I bring my clients to them and then I just act as a CTA through them for my clients.

At present time I have 7 clients. The US Dollars under management is just over $100,000 US Dollars. I range trade but mainly trade with the Trend. Since March 2006, My Return On Investment Capital Deposited is over 50% a month. I know this number is NOT believeable BUT I might consider posting here one of my clients Man Financial Trading Reports generated by Trade Station Two Software. I have a very strong knowledge of economics and the political scene. I am a mature 62 year old businessman. I would be glad to share some of my knowledge with this Traders Laboratory Forum.

I started demo trading September 2003. My first live trade was March 2006. I now am at the end of three years with 6 months of actual trading FX. I presently am winning 80% plus of all my FX trades.