Important note for King of Forex trading:
I found this in my notes and it is CRITICAL information.
**For fast trending market, do not enter 2nd trade until 9 EMA touches price (on closed candle) of first trade.
King 4-0.
Easy trades so far.
5-0 Quick 10 pips on a 1 minute trade.
For anyone doing King of Forex trading, keep in mind that beginning just a few minutes before and up to the start of a new hour, buyers tend to make the price move up. Then many buyers closes their trades and price reverses a bit. So its not a bad idea to look for King entries at the top of the hour.
6-0
3 pips.
USDJPY, anybody on it? Locked in 40 pips just now.
Still moving down. Wow! I just keep moving my stop to lock in more.
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78 pip move on USDJPY off a signal until my stop got hit. What a morning.
Would you put in a long now, after such a crazy down move?
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@samewise
Those were beautiful signals, werenât they?
The green and orange are my 25 and 150 EMAâs
Holy moly they were. I wasnât watching or listening to news, but was this related to PPI?
I suppose we have to assume so.
Congrats on the big win. Maybe call it quits for the day and leave on a good high note?
Man, moves like that get the blood bumping. I should probably step away!
Stand up and back away from the computer!
Unless you see a great buy signal and then rapidly run back!
Youâre killing me!!! 
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I counter traded EUR/USD and USD/JPY using KoF and made some horrendous entries. I didnât pay attention to the news and EUR/USD moved against me BIG TIME. Long story short, I still closed both trades in profit with another 3.5% gain on the account! Cost averaging really does give you control.
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Outstanding!
I know itâs so hard to stick with it when the trend is going against you. I think itâs good that you were tested and passed the test on that one.
There is a king of forex video where he shows how to handle those trades. It was just one of the live trading sessions so I donât know that I would be able to find it. Maybe you donât need it anyway.
@AmericanTrader The key is not using up your buying power too early. You gotta pace yourself. And when you see that youâre in a strong trend, youâve got to space out your entries. When you have a good indication that itâs turning in your direction, then you can carefully enter recovery trades.
One thing that Iâm finding useful, and it depends on the platform youâre using, but I place a horizontal line showing my average price of all of my open positions. It makes it easy to see my breakeven point. Each trade you enter is like a magnet pulling that line (your average price) toward it.
That sounds very helpful.
I am on mt4 and I downloaded a utility to supposedly close all trades with one click. But it doesnât work. Maybe the USA first in first out rule is too much for it.
Iâm using Thinkorswim. It has a âflattenâ button that you can click to close all open positions. Itâs super convenient. It also shows me my average price, but I have to move my horizontal line accordingly.
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