I know next to nothing about day-trading. But if that's the system you use, why aren't you making money consistently?

The struggles of a Forex trader

PS: I'm only doing what you have posted on this forum would be perhaps the only viable way to make money out of retail forex. Its clear you actually do understand trading and spreadbetting so even if you don't do what I do, I'm happy to carry on ...

The struggles of a Forex trader

I don't know if there's no data, I haven't looked for any. Maybe you can point to some that distinguishes between success rates for long-term traders as opposed to day-traders to support what you say? Yes, I am happy to tell people what is working ...

The struggles of a Forex trader

If you think of trading as day-trading/scalping you will almost definitely lose. I suppose if you are coached one to one by a successful experienced day-trader you have a better chance but otherwise I'd give the isolated unsupported new day-trader ...

The struggles of a Forex trader

Yes and no. The situation for some retail traders is actually even worse than this. Some traders will actually go short at every new high on an uptrend: no TA or FA signs of a reversal (except that price is higher than it has been and so all ...

What makes You lose in the market?

I don't try to predict a trend is starting from an opposite trend or a range/consolidation or even a reversal. I wait for price to form a trend. From that time onwards, the most probable thing a price in the trend will do is continue the trend. ...

What makes You lose in the market?

Yes, a major reason for retail traders failing is under-capitalisation. This drives them to ignore risk management like the 2% rule and others. I'm pretty sure most retail traders aren't really serious about whether this makes money for them or not.

What makes You lose in the market?

Do you really think trading like a hedge fund is a worthwhile model for retail traders? Anyway, if you've made up your mind that trend-following can't work, that's an end to the discussion.

What makes You lose in the market?

I don't predict anything, I just follow the trend.

What makes You lose in the market?

If by retail trader you mean retail day-trader or retail scalper, I agree with you and I'm smart enough to know I can never compete with the professionals on their own field. However, when it comes to long-term trends, if the institutions are buying ...

What makes You lose in the market?

I only look for trend-following trades but I avoid all off-chart indicators like RSI. Reasons are that they don't provide any information I absolutely must have before the trade, and what they tell me I can get from the price chart anyway. The ...

Using RSI to Gauge Trends

As long as you can manage capital risk and control your emotions, any system will do. I still advise new traders to start with a MA cross-over. These work OK, but you need tight risk controls, some limited understanding of price action for managing ...

advice regarding trading systems

Yes, obviously. As I said, I believe HMRC's view is that SB is unprofitable for the punter and that most of them will lose money long-term. And we all agree with that. I believe the HMRC also believe that if a trader has 1 or 2 or even 3 winning ...

MT4 for Spread betting vs Forex

All my own individual opinions of course. You're free to disregard what I say.

Never Go Against the Trend?

I think I have said why, its obvious.

MT4 for Spread betting vs Forex

I've been consistently advised that it is traders who want to be taxed, not the HMRC who want to tax traders, so they can claim for losses, which HMRC see as inevitable. But have you any references for actual court cases, or is it just through the ...

MT4 for Spread betting vs Forex

Trend identification is step 1 in TA. Its step 1 because everything else is more complicated. If you are unable to do this, you will be unable to make money trading. Of course there are alternative ways and some will make dramatic returns per trade. ...

Never Go Against the Trend?

Trends don't fail half the time or else there would never be a trend. A trend does not have to be some price movement in a single direction which lasts forever. It is a progression of price action in a given direction which, at any given point along ...

Never Go Against the Trend?

Trends aren't an illusion, they are the most persistent and powerful patterns in charting. They are in fact the basis if all successful trades as when a trader takes a position off a reversal or any kind of chart pattern, what makes the money is the ...

Never Go Against the Trend?

LCG told me a while back their daily charts end at 2200 UK time. I suppose this is to coincide with NY but it has the odd side-effect of giving their daily candlesticks the wrong date. Because the new candlestick starts at 2200 tonight, it has ...

Spreadbetting broker with end of day GMT+2