Thought on FX trading

With Forex trading, you can be more even keeled since it is easier to not get emotionally involved in a position.    Stock positions taken on some "fundamental grounds" can be particularly vexxing, with the unwillingness to take a loss.    Forex helps stay away from that.

I missed the close on equities today, looks pretty wild.

FX is pretty simple, keep it simple.  Drop fibo's on the charts, use Fibo's on clear 5 wave and 3 wave moves, mostly 5 waves though.   Don't put the Fibo's on larger price moves that are not part of the 5 wave (or 3 wave in some case).

Use PRS133, and PRS177.  Those pretty much confirm a change in trend, although I give them more latitude these day with Currency Wars going on.  On a backtest of a broken PRS, assume resistance will hold, and if restesting from the bottom side, go shear.   If retesting from the top side, go long.  I put stops a bit into the other side of the line.   Overthrow's are common, but sometimes the PRS will hold to a pip.

Apply Person Pivots to a the chart, using daily Person.   You can also use Weekly, or both. 

Set up a multi chart table, I have one with 16 FX charts....to get a feel for the overall market, and whether USD is acting against one currency more than others, or are pretty much all of them acting the same in relation to USD.  

steveo