Recent content by Trader Rich

I have to agree with Rhody Trader that there is no such thing as best indicator in fx currency trading. Indicators alone won't get you ahead in the game.

Cable is heading NORTH Cable broke a major resistance at 1.49 and had a double top breakout on daily point and figure charts - a very bullish sign. There is a nice upward channel formed by higher highs and higher lows on daily charts.

There is one example which combined point and figure charts and narrow range bars.

Thanks for the informative post. One of my day trading rules is trading with the trend. It takes lot of patience though. Keep up the good work.

It's true most day trader lost money in the market. There are two causes for their capital loss. 1. Lack of a complete set of day trading rules to guide them. 2. Lack of discipline to follow their rules.

Start out with a shoe string to learn the rope is definitely fine for new traders. Make sure to adjust your position size accordingly. I have posted a set of day trading rules, you might want to take a look at.

On hourly point and figure charts, cable made a triple top breakout at 1.4766. The next target would be testing last week's swing high 1.4956.

What a beautiful NR7/ID setup for euro after 5 days staying in a top range.

Better teach yourself how to fish instead of asking for fish. Get educated first.

Event trading is a no go for most traders. Don't just think how many wonderful opportunities you missed. After the settlement of event effect, you will be thankful how many whipsaws you just avoided.

I use pivot point on a daily basis to help me gauge the current mood of the market. My experience told me never naively believe the support and resistance from a pivot level in a strong trending market. Pivot point alone is not enough to make a trading decision. You need to come up a system...

Trading forex is much difficult than stocks. Event trading is not for beginners not even to lots of pros. Before achieving consistency, take baby steps, and focus on how to be a better trader - learn your crafts, be it candlesticks, point and figure charts, money management, technical analysis...

Yen is back Yesterday, on hourly point and figure charts, yen made a double top breakout at 96.50, and retraced more than 61.8% of last week's slide. In London session, yen kept the up momentum and almost had a 100% recovery. We need to watch closely whether this up thrust will challenge the...

After two's surge, euro quiet down on Friday. After a double top pattern, euro found support at yesterday high.

EURUSD double top breakout Today is an impressive trend day. Euro ended with a 511pips daily range. Check out the link for detail information about euro's double top breakout. The Art of Speculation|Point and Figure Charts Compounded with Narrow Range Bars