fxscalper

This is the second time I've given up the handle I set up for my daughter. Back to the drawing board. Best Wishes, Thales posting as FX

Hi imorgan, My daughter isn't here right now, but here's my take on the areas in question: #1: I believe she did trade at #1 yesterday morning. In fact, I believe she bought before price rose that high thinking that price would get at least that high and if price didn't breakout above there she'd just close the position. Once price did get through, she set a trailing stop and a profit limit and went away for the day. As I said before, she's getting a bit cocky. #2: This occurred at 1:45 AM EDT, and thus well past her bedtime. If she starts waking us up to trade the London open, I think she'll lose trading her privileges. And even though this was outside of her hours, I am not sure she would have bought at #2 because the the buy stop would have been less than 7 ticks from the prior night's breakdown price, and thus this is not not a breakout above resistance, but a further push into anticipated resistance. So, the easy answer is she didn't buy #2 because she was asleep. The probable technical answer is that it wasn't a breakout. Also, the more I look at number two, I really don't think I would have had a thought to strike a line and contemplate an entry there. Again, I will ask her later what she thinks, but I would be surprised if she would have bought there. #3: Very similar to #2 as this occurred at 3:00 AM EDT, and she was, thankfully, still asleep. Technically, also similar to #2 in that it is very close to the bottom of what looks to be a very clear range. She is not here right now, but I will ask her later what she thinks of #2 point and #3. I do know that earlier she and I both agreed that anywhere above but close 131.50-131.60 is a dangerous place to be a seller. To me, this was not a break of support but a bit more sound and fury in the middle of nowhere signifying nothing. #4: Interestingly she did buy at #4, and I reproduced her chart incorrectly. If it were me, I'd have rather waited for the point I had marked (131.49), but she did buy at 131.42. I'd have rather waited until the high that formed at your #2 had been broken. But right now, she's been doing better than I, so who am I to judge. I have to run, but I'll try to follow up on this later, Best Wishes, Thales

I've traded both. I'd rather trade with a bucket shop. At an ECN I ended up paying a commission and the spread.

You can start trading with $25 if you want. You won't make a living. But you can start to trade trade.