Nah, amateurs probably don't have a fixed risk at all! I don't risk that much either anyway, but I was just playing devil's advocate in saying that it is possible to do profitably, although quite risky and I would not recommend it.

5% risk per trade?

I must respectfully disagree, although I do see your point. I never said it was not riskier, I simply said it could be done by a very experienced trader that is very comfortable with his strategy. A trader that decides this risk is worth taking ...

5% risk per trade?

I think 5% can be done depending on the trading strategy. 1-2% is usually thrown out there for beginners because they don't know very much about what to expect from their strategy, so it helps to not risk more than that to prevent them from blowing ...

5% risk per trade?

Don't worry, everyone's an expert on FF. You take the nuggets that make sense to you and filter out the rest of the noise.

(binned per thread starter’s request) What have you learnt since

Because emotions have no place in trading decisions. Trading is statistical and mathematical. You should trade your plan, not your P&L.

Trade management

Yes, depending on your strategy using a trailing stop makes sense to me as well, eventually it will cover your entry point, but simply moving your stop to break even when it has nothing to do with the price action, but instead simply because you are ...

Trade management

I disagree completely. Setting breakeven stops is emotional, not logical. You are trading your P&L. If you have a positive expectancy, there is no reason to set a breakeven stop IMO. It's not about win rate, its about the size of your winners vs ...

Trade management

I just thought about another reason that I wanted to add to this thread. When you really think about it, trading is basically math. Statistical probability. How many traders are mathematically competent? I am willing to bet not that many. The ones ...

Wanna know why a majority of traders lose?

That for the most part, it's nothing more than a social outlet that shouldn't be taken too seriously. Nice place to chat with other people in this lone wolf business.

(binned per thread starter’s request) What have you learnt since

For me I would say one of them is trading on lower time frames. That was a disaster for me.

Post your Trading Mistake and How you overcame it

Don't discount life obligations. When having this familiar discussion, a lot of people fail to mention that having a job, a family, and other priorities outside of trading make for a huge learning curve vs. someone who is young and has nothing ...

Wanna know why a majority of traders lose?

Hmmm..It was in a book I read about technical analysis one time. I can't remember the title, but I found some links that may help that are cycle related... url url Hope that's helpful.

(binned per thread starter’s request) Forex Specific Time Cycles

Unfortunately, although the advice is great in theory, in reality they would have probably been better off trading a decent amount of money and practicing good risk management. It's not psychologically easy trading for pennies. It takes discipline ...

Do you believe brokers hunt your stoploss

That's a great goal. That was mine and I did it a couple months ago. It's really scary for most people to leave that safety net, but for me it's knowing that my back is against the wall that brings out the best in me. A safety makes me too ...

What are your future financial goals?

Good for you. That's why I stopped trading lower time frames. It's the best thing I have ever done and turned my results around for the better. It stopped me from being able to boredom trade and revenge trade which immediately affected my results ...

What are your future financial goals?

Sorry I'm so late to this answer, but basically I trade a $5,000 account USD. So that would be my equity. I am going to give you the math without compounding, because I'm being lazy right now, but basically 308% per month, 4,000%/year. Again, this ...

What are your future financial goals?

Exactly, and unless they truly enjoy the challenge of figuring out what they are doing wrong, they will quit. One thing that I always read about the most successful traders is that most of them always say the biggest thing they attribute to their ...

Do you find it hard to stay motivated?

True passion will carry the trader through the tough losing period. Those in the game thinking quick money will vanish.

Do you find it hard to stay motivated?

I don't think you used them slippage in the right context. I think what you meant was the volatility but I definitely agree with the overall point. Not to be picky about terminology, (someone correct me if you think I'm wrong) but from what I've ...

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Likewise! Thanks for sharing your thoughts.

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