Recent content by beginner_trader

Oh crap, that got taken out!

Eur/Jpy 4hr pin on Eur Jpy hitting resistance at 130.00 This level has been resistance and support before. Also, it looks like the right shoulder of a head and shoulders pattern is forming(visible on daily chart) Any thoughts?

Hi all, Im using Oanda and I noticed that the daily candles seem to start at 5am. Is this correct, I thought they would start at 12am? Also, on netDania.com the 4hr charts seem to start at 1am. Is this how it should be? Thanks.

Eur/gbp What do people think of the EUR/GBP? People were saying that they would reach parity and then after a long period of the euro rising agaist the pound, it fell again at the end of December. After falling to 61.8 fib its now started rising again and has broken through the 50 fib...

HI all, I understand that the daily open and close are used to calculate daily pivot points. But from which session? As I guess it would change the results if different sessions were used. Thanks.

Hi all, I keep reading that very simple systems can be very effective, eg one just based on 2 moving averages. What I don't understand is that how can anyone trade without being aware of important levels on the charts, such as trend lines or daily pivots? A moving average system could be...

Hi all, Am I right in thinking that spreads are the same amount no matter how much money you are trading, so the smaller the amount you are trading with, the smaller your profits will be and the more the spread will eat into your profits? Also, how do the Metatrader spreads compare with other...

Hi all, My demo account deposit in Metatrader 4 is 5000 and my leverage is set as 1.10 So, if when making a trade I select 1 for volume, does this mean that I am trading with 50,000 and if I select 2 then I am trading with 100,000? Thanks.