Yes, I agree. Too bad bad for me I started trading in 2003 with full lots and half a deck. After no trades in 2006 I realized that I can still trade while I sharpen my skills without fear of becoming homeless.

Scaling: In/Out. Winning/Losing

Ouch! Now that would just be down right crazy. I have contemplated a no stop strategy before, but that's like having unprotected sex with someone you don't really care about and I think that discussion is better suited for the funny farm thread. ...

Scaling: In/Out. Winning/Losing

First let me clarify that the formula is for non-USD based pairs (Eur/USD, Gbp/USD...) just don't want new traders to us it for USD/JPY... As far as leverage goes... duh, I guess there was no need for me to mention it in this ...

Scaling: In/Out. Winning/Losing

The appropriate response — Ok, After reading your question more carefully I can answer it more appropriately by saying a higher leverage such as 400:1 allows me to work with more lots (be they one full lot, .1 lots or .01 lots in size) and ...

Scaling: In/Out. Winning/Losing

I don't have much time right now, but the point I was trying to make is not that I'm I better trader because of my leverage/account size, but that I simple choose to work with less money in my account and as Bemac requested, I was trying to open ...

Scaling: In/Out. Winning/Losing

My profit in September is up over 20% so far by switching to longer term charts. I too found 1HR charts to be frustrating and I took too many iffy trades hours after the signal for fear of lossing out on the big moves. Now I use Daily charts most of ...

how much time?

I think you have a good point there. From my experience, the perfect looking setups are obvious to many traders and attract attention from many bears and bulls. Quite often there is a messy fight which takes out most of the tightly placed stops in ...

The Wizard of Oz Intuitive trading journal

This should be an interesting thread. First I'd like to mention that I work with a small account size ($500-$1000), partly from choice and partly out of necessity. I feel that I must first master $500 @ 400:1 leverage before I can risk $5000 @ 200:1 ...

Scaling: In/Out. Winning/Losing

I've been there tied that, so many times... I'm an agressive trader by nature also, but I've learned the need to hold back and look for confirmation before jumping in on a major trend reversal. Predicting market movement is for mystics not masters. ...

Fear

I would be scared to go long USD/CAD right now too! The fact that you grabed 10 pips going against a strong weekly down trend is not so bad. Maybe your subconcious was telling you something.

Fear

I like your attitude and your methodology. Thanks for taking the time to write down your thoughts in detail. I wish you continued happiness and prosperity.

The Wizard of Oz Intuitive trading journal

I also love to trade and often I have suffered from the same affliction. Lately, I've been able to satisfy my habit by reducing the lot size when I get that 'lovin feelin' without much to back it up. Sometimes I get lucky and that's ok as long as I ...

Best trade of the day.

Oh, no! Looks like another case of slow market week in TraderTown. The moon is getting full and the natives are getting restless. You guys better run to the safety of the 1KT room and I'll take care of the crazies. I speek their language well. ...

IBFX Demo: Initial Deposit inconsitency

When I first read this thread I was confused as to why there was a problem with Limit and Stop Orders. My brokers trading platform won't allow me to place a BuyLimit above the current price or a SellLimit below the current price. Evidently, some ...

Basic Questions about Limit Orders

Well, I'm not going to say I told you so, but I'll show you instead. Not because I want to gloat, but as reinforcement of the things I said about the need for flexibility in a strategy. Experience has taught me to be skeptical of what I hear in FX ...

Flippin' Sweet Daily Hedges

Actually, we are on the same track in regards to discipline, but how we define discipline and how it is obtained has yet to be discussed in detail. url As previously discussed, a traders mind must be disciplined in several ways: i.e. knowing when ...

Why do 95% of traders lose?

Here's some food for thought: — 95% of traders lose because they spend 95% of their time thinking of ways to avoid losing. <Oh! I must be sure to risk only 2% which means a stop loss of no more than 50 pips. Only trade with the trend!> yada ...

Why do 95% of traders lose?

Hi Dm, Glad to hear you use alike strategy. Please tell me more. I currently use a simple expert to place orders only. I'm working on modifications to the strategy and as I verify them to be good I will slowly add them to the expert. I also have ...

Flippin' Sweet Daily Hedges

The big supprise party, NOT! — I need to trust my intuition more and not always stick to the strategy. After all, it's not a system and is supposed to have some flexibility. When I saw the perfectly shaped 4HR channel, I said to myself, "ah, ...

Flippin' Sweet Daily Hedges