Recent content by rtsurvivor

I'm not that up on ZigZag patterns. It sounds like the Elliot Wave theory. Pattern trading is actually an art form. With a bit of practice you can pick out a winning pattern. However, there is a hard rule I do not violate. There has to be at least two supporting indicators that favor the...

With pattern trading it is important to know the trend. So, this is what I use. If I'm trading the 1 hour I will check the 4 hour and Daily. If they are in an up trend I will trade only 'UP' pattern in the hourly. And, if the trend in the two time periods is down you would of course trade only...

I use a rule of thumb for measuring a target. The difference from 1 to 2 sets a target amount and then, if it's a 123 Down: #2 - Target Amount = Down side estimate. And for a 123 Up it's just the reverse. This usually holds true if the 123 is a fairly good sized move. Keep in mind that...

I've spent a lot of years trading price patterns. The only real trick to making successful trades is to make sure the pattern has a couple of reliable indicators that support the pattern. There are really only a few basic price patterns: Bull flag Bear Flag Ascending Triangles Desending...

It's been a bit since I've been here but this 123 price trading caught my eye. About 30 years ago I got a commodity flyer in the mail from a commodity trader named Ken Robers. It got my interest right away. One of the patterns he was teaching is the very same 1-2-3 pattern pipmaster1 is...

I ran across this broker today JADEFX. I'm not affiliated with them or activly trade an account there. However, I did open a metatrader4 DEMO account today. They claim to do "Pure Straight Through Processing" (STP) with "No Dealing Desk" I've seen better sites but they still have a lot of...

I've been doing a lot of reading and some research too. I'm from the old school of commodity trading. In futures a trader traded against another trader and not a broker. In the futures world trading is a "Zero Sum" game. There is a winner and there is a loser; neither of which is the broker of...

A quick note clorets. Your blog looks pretty good. However, your education page seems to have jumped the track. :rolleyes: Good trading RT... :clover:

Hey Elvis. You have a good blog. However, you can put "YouTube" live videos in your post. Here's a shot of the edit panel in BlogSpot. +++++++++++++++++++++++++++++++++++++++++++++++++++++++++ +++++++++++++++++++++++++++++++++++++++++++++++++++++++ The part circled in red is the embed code...

There are about as many S/L theories out and about as there are traders. I used one where I set an EMA to 20 and then did some back checking to see where spikes would have closed out the trade. If the bar went over the EMA to many times I'd increase the EMA. This also requires a bit of money...

Trading Inside A Price Pattern Movement I'm not sure how to do this so I'm adding to this post. I am using two price patterns, Ascending Triangle, Bull Flag, to project price movements for the EUR/USD. Below is a chart for the 30' of the EUR/USD. Notice the big move up throughout the day...

I have another post about projecting where prices may go when looking at a price pattern. This is the chart I added to that post and it is projecting prices to go up to the 1.45xx/1.46xx area. . NOTE: The daily chart is for last Friday 5/29/09 and the the 30' chart is for todays trade 6/1/09...

This is what makes trading the FOREX so interesting and fun. Everybody has a view on what is going to happen. I'm a pattern trader and as of this morning the patterns, Ascending Triangle, Bull Flag, say that there is going to be some up move. I take each pattern on it's own merit. If they...

I projected out to where I think the EUR/USD may be going. The chart below shows how I came up with my predictions. I'm a big fan of trading price patterns. Sometimes it's hard to keep it in mind that all price patterns are not equal. But, the simple ones are easy to work with. the chart is...

Well put rathcoole. :clap: New traders are getting ripped off everyday. without some sort of regulation there would be complete, and mass, destruction of new traders. :cool: RT...