Hi Pmeletse, Do you know the expectancy of your system? Can you go back and look at your chart after a losing trade and see where you went wrong? If not, I'd say something is definitely wrong. Maybe your trading edge is not as clearly defined as it ...

Are you a consistently profitable trader?

The title of your post said indicators. Not sure what you were intending to communicate there, but, as an fyi, the Andrews Pitchfork is a drawing tool...sometimes people call them indicators. Big difference. FX4

Are you a consistently profitable trader?

No probs. Going to try to catch a nap before London session. Take care, FX4

Are you a consistently profitable trader?

Lots of great posts and discussions. Need to take the time to go through them in detail...maybe later today. Thanks guys. FX4

Are you a consistently profitable trader?

Firstly in respect to `strong s/r levels' is naturally enough where evidence has shown that PA in the past has had difficultly overcoming in breaking through on more than 2 - 3 occasions, more would be even better. Agreed! I've also seen MAs work ...

Are you a consistently profitable trader?

Weekly Wrap-Ups are now posted on the blog. Added a gold nugget: might help some. Take care, FX4

Pitchfork Goldmine!

Added June's results to the line-up...keeping it going for July. June's results are in! Yes, I am currently. ................................113 43.80% No, I have never been. ............................. 54 20.93% Yes, I have been, but not ...

Are you a consistently profitable trader?

Subby arrived at NeverAgain's office. He's meeting with him now... NeverAgain: So good to see you Subby...been a while. Subby: Sure has. Good to see you too. NeverAgain: So how has it been the past two months? Subby: Has it been that long? ...

It's A Heart-Mind Game... Are You Ready?

Now that those percentages are up, let's go on to talk about risk. From Wiki...(underline mine) Risk is the potential that a chosen action or activity (including the choice of inaction) will lead to a loss (an undesirable outcome). The notion ...

What Is "Proper" Risk/Money/Trade Management?

Will be posting the stats for the poll on Saturday around midnight. Looks like we have more consistently profitable traders over the previous month ...at least of those who took the poll. FX4 EDIT: Changed from tomorrow to Saturday, June ...

Are you a consistently profitable trader?

Subby's Trading Report since the meeting in April with DoingWell and NeverAgain. Some of you might remember that Subby was given an assignment to trade a 10K Demo (that was linked to a 10K Live account, but Subby didn't know it) using DoingWell's ...

It's A Heart-Mind Game... Are You Ready?

And another great quote: “My strategy works well because it’s my strategy. I know the strengths and, more importantly, the weaknesses of what it is I do. It also works well because I allow it to work and stick with it even when it runs into ...

It's A Heart-Mind Game... Are You Ready?

Hi Xen, The basics of Nick's system that you describe here sound like a winner to me. The key point you mentioned: "strong S/R levels". "Strong" is a subjective term, so some of the understanding needs to come from much observation of price action. ...

Are you a consistently profitable trader?

Risk of Ruin — Another little something to think about (courtesy Robert Deel): Series of Losses----------------Probability 3 losses in a row-----------------12.50% 4 losses in a row------------------6.25% 5 losses in a ...

What Is "Proper" Risk/Money/Trade Management?

What does it take to recover your loss? — What does it take to recover your loss? Now those percentages... This table shows the percentage gain (shown on the right) that is needed to bring the account back to breakeven if it incurs the ...

What Is "Proper" Risk/Money/Trade Management?

Custos, The compounding that comes with losing trades can be staggering. Might post some stats next showing the compounding effect of losses as we head on in to Risk Management. Even if you sacrifice some winners, it will probably do your equity ...

What Is "Proper" Risk/Money/Trade Management?

Very nice journal. Will be back to read more. Stay honest with yourself . Think you're on a clear path. FX4

GLJ

Some pointers on Trade Management: 1. Pick the "best" trades per your system. Which ones are the best ones? The ones that have filled most if not all of your conditions. 2. Never let a winner become a loser: + pips are better than - pips. Never let ...

What Is "Proper" Risk/Money/Trade Management?

Hi again Xen, I'd say you're a pretty disciplined trader...1.5K in the first 12 months. Also just taking 2 or 3 trades a week...picking the best per your method. Trading H4 with the longer time-frames as the backdrop is an excellent idea. ...

Are you a consistently profitable trader?

The fight is on with EU atm...locked in a range on H4. Welcome to Scalp City. FX4

Pitchfork Goldmine!