Not at all, actually it was discussed during the weekend here 301 Moved Permanently that’s why I didn’t think of attaching any chart
Luckily enough the market opened with a retracement so I entered @ 0.9440 with TP 0.9523 and SL 0.9380
R:R 1:1.4
lol actually now I feel like an idiot since it was you who shared the D2 chart 
ok in the comment right after Aaron said that the Pin bar showed on the EMA21 and, since it is not counter trend, it can be considered as a valid zone for taking the trade
It’s okay, BUT…I’m really confused. It didn’t touch the EMA21 (21, Exponential, Close) on Daily time frame. And which PB you mean, the one on 10.10.2013?
You are right again, it is the EMA8 I am referring to and yes I am discussing the fakey setup that happened on 8 9 and 10th of this month
In a follow up question I asked you and Aaron if my horizontal S/R 0.9430 is wrong because, from my chart, the fakey is on both horizontal S/R and EMA8
Don’t know how many people caught it but I included the 8ema in my last article. I also added it to the approved EMA settings. I said 21EMA in my post, I meant the 8EMA.
Hi Aaron,
Do you have all 5 EMAs drawn on your charts at all time ? Obviously, the smaller the EMA, the closer it will be to the price. From what EMA would you start considering it as a threat if located on the way to a TP target ? My guess is the bigger the EMA, the more dangerous they are as they have more price included in them, right ?
So to turn it differently, would you refrain from entering a trade because it has an EMA21 halfway to TP or would it have to be at least a EMA50 or even EMA100 ?
Thanks,
Yves
Yes a definetely agree. If you look at trading like it is your job then risk 2% is for some people still quite lot. If you look at trading like a game which is your second case then you can risk what you want because money on your account mean nothing for you. Then there is a question why trade? If you are rich and trade with 300$ then it is probably only waste of your time. That is all. If you trade seriously you risk only small part of you account. I think that it is human nature … if you have on your account big part of your assets then you are careful. I agree with you 
Im interested in this setup, You said that TP is @0,9528 but earlier in this thread You said that you hardly ever set TP and give position room to breathe for bigger R:R like 1:10. Please comment 
I think what EternalNewB means is that you don’t need to hold all 100 000 USD or whatever money you have in forex trading account, but instead you could just hold the money in other accounts such as bank’s and when needed you just refund the forex account, BUT you risk per trade as if your forex account had those 100 000 USD, the money is just deposited in another account. Because seriously, why would you keep 100k USD in trading account if it doesn’t benefit you in any way or make any money just from being there.
Time to go short on gold ?
Gold has been in a downtrend and ranging recently since mid April
It closed under support (at least for me) @ 1278.41 last week and actually retesting this “flip zone” now acting as resistance.
Looking for PA to go short on the daily chart since this is what I am sticking to for now
Thank you
Well in that case I see no different between having 100k on trading account and risk 2% (2000 per trade) or have 10k on trading account and risk 20% (2000 per trade) (and have rest of your money 190k in bank). If you expect that you will refund your trading account from bank account. It mean that you have money in bank for trading. In both cases you risk 2% of the amount which you have determine for trading. So you can say that you risk 20% of your trading account but in fact you risk 2% of your means. There is still fact that [B]you shouldn’t risk more than 5% of your means.[/B] If you have trading account with 200$ and 190k in bank and you want use this money for trading then you can risk 100% of your trading account and refund trading account from bank but if you don’t want use money from bank to refund your trading account then you should risk 1-5% of your trading account and it mean something about 2$, money in bank are in this case irelevant. Hope this make sense
I don’t see any PA signal on CADJPY weekly :S care to elaborate more ?
Finally, now, we agree
Thank you Richard for rephrasing me in a better way
How do u all see on this USDCAD D1 evening star.
Pros :
Cons:
To me, it’s time to buy at resistance turned support point if a PA signal occurs
Hey Yves, I currently only have 8 and 21 EMAs on my chart, and I only use them to trade the daily. I am not currently using the 50 and 100 EMAS to trade. With how busy I have been lately I haven’t been using as many tools as I normally do. Just been keeping things quick and simple.
I would need to see a picture of what you are talking about but I generally use EMAs to get me into strong trends on the daily chart. In any other case I disregard them.
Another order I placed based on plan:
CADCHF 4hr BEEB.
Pair is currently ranging between 0.881 and 0.8697. Price is at range high and a huge BEEB happened. PA Signal is big enough for 4hr TF. No EMAs on the way.
Entry placed @ 0.8743 single TP @ 0.8706 SL @ 0.8821
Won’t manage anything as only 1 TP and clear way.
RR isn’t really great but I don’t mind small profit.
Overall, I would rate it 3* because of the entry area which is quite noisy if you see what I mean…
Froex trading is the best way of earning money at home but to be succeed in Forex trading you must have a well information about Forex trading also you must have to know about the Forex trading styles and Forex trading indicator so you can earn good profits.
While there are setups where you can get a 1:10 that isn’t business as usually in my method. In the cases where you have a very strong trending pair, you can sometimes get in the trade on a 1 or 4 hour candle, enter on a retracement of the candle, and can ride the momentum for huge rewards. This can require a little more screen time and diligence than just setting a simple TP on a trade. Like I mentioned earlier I have been too busy for this so I have just been setting simple TP.
It’s also important to note that the setup has to be offering large space to run. I don’t shoot for those high risk/reward traces because I feel like it, the trade has to have amply take profit space and not to much resistance. If I find a good low TF setup with a potentially large RR setup, I will post it here as an example.
Thanks Aaron,
Ok, maybe I am missing something in terms of what EMAs are used for. Are they only relevant in trends ?
