You make a good point here, as usual. I'm finally, after several years of trading forex, starting to realize that I'm not a very good trader. Sure I can analyze charts and fundies, but when it comes to trading (the most important part of making ...

Much of What You Know About 4X is Wrong!

Well, thanks for the transition Warper. The next adage I wish to examine is "It's Better to be Lucky than Good". We as traders don't hear this one much in the context of trading, but I think it has significant relevance. I rather think of myself as ...

Much of What You Know About 4X is Wrong!

Steal away, David. I couldn't have said it better. One main point I'm trying to convey here is that uncertainty exists most of the time in greater quantity than reasonable certainty. By this I mean that the highly probable trade set ups come and go ...

Much of What You Know About 4X is Wrong!

Yes, now I understand this trend thingy in the context of bipolar 'disorder'. OK. I stand corrected, in part that is. I'm willing to accept that "The Trend is my Friendly Aquaintance". The level of trust I will allow him depends on his ...

Much of What You Know About 4X is Wrong!

You've anticipated my next move well. Are you a former chess champion perhaps? "Close the losers first and let the winners run" is up next. This one won't be easy to prove or disprove, but for the sake of honest debate I'll take the stance of a ...

Much of What You Know About 4X is Wrong!

Well I don't suffer from too many friends. Most people can't stand me due to my critical, analytical nature. The only indicators I use are fib retracement and projections along with areas of sup/res. I have to keep it simple cause I'm stupid! BTW ...

Much of What You Know About 4X is Wrong!

Thank you everyone — The response to this thread is more than I had hoped for. Great points were made by all. I must oppoligize for the title of this thread. I admit it was designed to attract attension and provoke response. A more appropriate ...

Much of What You Know About 4X is Wrong!

Nice post Warper. Your points are well stated and duly noted. My main objective with this thread is to examine some of the better known phrases like the trend is your friend in hopes of clairifying their true intention. With this phrase my main ...

Much of What You Know About 4X is Wrong!

You're getting ahead of me here and I don't want people to think I advocate trading against the trend as a rule, BUT there is a time and place for everything. 'Turn, Turn, Turn. To everything there is a season. Turn'

Much of What You Know About 4X is Wrong!

That's like saying, "A 12 cylinder Jaguar can be an economical vehicle to drive" HeHeHe Ha Ha! Certainly not economical for new drivers!

Now I know why 95% of traders are on losing side

Absolutely! People make trading seem so complicated when in fact so much depends on attitude. Once you're willing to burn those $100 bills like there nothing, things become much clearer because fear no longer controls your actions.

Now I know why 95% of traders are on losing side

"Luck in trading is like a bar of soap in a prison shower. If you squeeze it too hard you'll need to bend over to pick it up." M-MM

Words of Philosophy & Psychology---

Best explaination I've seen for leverage — url Posted Nov 30, 2006 by aparsai I try to wrap up what everyone else said with a few examples: In these examples suppose your base currency is USD and and your current balance is $10,000. Also you ...

i want 400:1 or 500:1 leverage with metatrader platform

Looks like a Liberace version of Fibonocci. Cool thing about Forex indicators is that there's no wrong way to use/abuse them. (artistic license)

Fibonacci GONE WILD

Lucky again — Mon. Oct 8th, 12:48PM: Closed short from Friday for +50pips Expecting increased volitility so went for 50pips rather than give it back. FOMC News tommorrow @2PM. This event's effect is hard to determine before hand, watch the ...

Weekly Interplanetary Expectations for GBP/USD

"The most beautiful thing we can experience is the mysterious. It is the source of all true art and all science. He to whom this emotion is a stranger, who can no longer pause to wonder and stand rapt in awe, is as good as dead: his eyes are ...

Words of Philosophy & Psychology---

A broken rule is a bad thing — I was up 186 pips this week on this pair until I grew big balls 2 hrs after NFP. Now I'm holding into the weekend and I'm HOPING (that's a 4 letter word) the FEDs don't catch up with me. Truth is I don't know ...

Weekly Interplanetary Expectations for GBP/USD

Nope, that would be this guy. 1st post too!

Cable Update (GBPUSD)