I have been saving this topic for a little while but I believe it is time to share this idea after discussing it in the forum with one of our participants, Dan, on the IRC server. Dan dubbed it the 50-25-25 rule.
Some things in Forex you cannot entirely predict but you have many tools available at your disposal to help predict the likelihood a currency will move in a particular direction based upon information available.
Here is some thoughts on US financials...
As you all know, world markets and especially American ones have been tanking for more than one year due to sub-prime crisis.
Posted by: drumr in technical analysis on
Jul 21, 2008
Here's some information on the last topic traders seem to navigate to but it's the one that should enable you to at least survive and hopefully to thrive in trading. I don't claim to be an expert on the subject but here's some of what I've picked up along the way...
I've only been chatting here at ircforex for six months but in that time I have lost count of the many traders that have come and gone. Sure, some of them just hang around long enough to get started but many of them leave after letting us know they have ruined their accounts. One recurring trait I notice are that they are all intelligent people so I'm left wondering what they were mostly lacking to be able to succeed.
Hello
I felt it was time that i shared my trading method with everyone here. To be honest, A video would be much better than a post for this, so maybe i'll put one up sometime. But for now this will have to do. I apologize if this method has already been developed by someone else, but i came up with this on my own and without any help. With all that said, lets start with an explanation of why i trade the way i do.
What is a trend? 
A trend is when a single currency goes up or down over an extended period of time. I see alot of people on forums trading based on what a single pair does such as AudUsd or what have you. So for instance, if the AudUsd was in an upward trend....is the Aussie Going up?....or is the Dollar going down?.... Do you see what im trying to say? If you have All of the Aussie's Pairs on one profile and all of the Dollar's Pairs on another profile and compare the two sets of charts you would easily be able to see which currency is causing the trend on AudUsd. In this particular case...its the Aussie!
I found a trend! "Well thats great.... but why should i care which currency is causing the trend?" 
Well.... so you can know when to get out of the trade! Getting into a profitable trade is easy....but knowing when to get out is the hard part. Too many traders hold onto their trades for far too long in hopes of more profit.... this is not a good way to trade. If you could see with your own eyes, the deterioration of the trend you are currently in... you should have no problem whatsoever closing the trade with your profit in hand!
"Well alright then... Sounds great but...what should i look for in order to know when a trend has ended?." Divergence!! If a trend on the AudUsd is happening because all of Aud's pairs are going in the same direction.... the end of the trend should be when those same pairs are going in different directions ( up down and sideways ). This signifies that Aud no longer has control over the trend ( since the pairs are going in different directions now ) Aud is no longer strong enough to keep the trend going...at least for now.
Time to get outa this trade! 30 pips profit, yay! I only use 1 indicator for all my charts "Heiken-Ashi" This is the colored candles you see on the chart, its a better way of charting candles ( at least i think so ). Google it and give it a try.
" Okay Mr.Trading Guru... Since your method is soo awesome like you say... you must be a billionaire right?..." Hehe... no im not. I havent made any money from trading this method yet.
"Well why not?...dosnt your method work?..." Yes...Every time!...I can detect all kinds of trends with this method.... long profitable trends...AND short non-proftiable ones as well!! This method is a trend detector for sure!... Its those short non-Profitable trends that are keeping me from trading this method with real money. Im still trying to find a way of filtering them out.
"well okay... the trade you posted here in this post was pure Luck!...Bet you can't find another trade like that again!..."
Oh?...Well, shortly after i closed that Aud trade i found this....
What do you think will happen to this trade?... Will it be a long and profitable one? or a short and unprofitable one?...
(in case any of you were wondering, it was a short /unproftiable trend)
I just wanted to say to everyone, thanks for taking the time to read this post. I know i dont frequent ircForex but i LOVE this site! ^_^ I really do. Ive been a trader in progress for the past 2 and a half years ...full time!.. so that has to count for something right? Anyway, i just wanted to share my progress with you all and hope to have lots of feedback. See you all in the chat room! 
Well I've
gone back to being naked. I guess you cant call it completely naked. However I have no predicting indicators on the chart. Just one that logs price action and another that draws a close line from the prev day. No moving averages or
oscillators just price action
entries. One of these days I will be able to remove the price action indicator but for now I find it helpful. It is set to only show Pin Bars (PB) and Inside Bars (
IB). Here is a look:
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I will be explaining my system shortly.......Stay tuned! or maybe log into my classroom at this address:
http://vyew.com/room#/481450
This will bring you to the lobby......If I am there I will pull you into the classroom.
~Snap
http://snapcracklepip.blogspot.com/http://www.livevideo.com/SnapCracklePip
Well its been awhile since I wrote an entry. Basically there's been nothing new to write about until now. Today I've "taken the plunge" so to speak and I've stripped my charts clean of indicators. I have been doing this long enough now, that I actually can visualize the many different setups I have become accustomed to without actually having all the indicators loaded. Other than price, all I'm left with now is a custom fib retracement tool, hand drawn trend-lines and horizontal support/alert lines,
Here is a snapshot of the pairs I trade loaded in an Overview profile, and a full screen of one of the charts:
~Snap
http://snapcracklepip.blogspot.com/
http://www.livevideo.com/SnapCracklePip
EDIT: (well that lasted a little over 24 hours. It was a good swim however, there are a few Indicators that I have decided to put back on. Henkin Ashi candlesticks, because I got so used to them over the years and on Oanda charts I prefer then to regular candles. A 233 EMA helps keep me oriented in time and space. And the Gann Hi-Lo Activator servs as a trailing stop. All-in all it is still a much lighter setup than my old setups.)
Posted by: drumr in technical analysis on
Jun 16, 2008
Posted by: drumr in technical analysis, education on
Jun 13, 2008
Welcome back to another addition of my forex musings on the internet. Today I would like to discuss my current chart setup. I went through many revisions in order to make it much easier to read and to use the indicators I really do use. This give me the opportunity to focus on a few indicators and the time to read about and understand them more. Here, have a gander...
Posted by: weatherman in technical analysis on
Jun 09, 2008
I'm going to keep my blogs brief, considering it takes less than six seconds to capture the average internet peruser's attention...
A little about my trading style; I mostly scalp and swingtrade using a basic woodiesCCI setup. My favorite trade setups include hidden and regular divergences, the hook or hook from extreme, and the cci slingshot- of course all these can be traded in some sort of combination; for example: slingshot on the hourly, divergence on the 30m and 15m chart, while 15m and 5m are confluence'ing (starting to go in the same direction).
