Thanks for putting the word out. I have never heard of them before, but I am definitely going to check them out. I currently trade through TD Ameritrade, but they are just as expensive as Forex.com, because they route their orders through Gain ...

Which US based forex broker to go with?

Totally agree here. Profitable trader's know the numbers. It's like running any business. You can't expect to be profitable with no business plan and no idea what your P&L or balance sheet look like. Unprofitable trader's don't want to take the time ...

The impossible-question regarding Forex

Bingo. I wish I could remember what trader had said this quote again but it said "trading is the hardest easy way to make money"

Why 95% Of All Traders Fail

In my opinion, maybe they do hunt stops, maybe they don't. I honestly could care less. The point to me is that your stop is going to get hit every now and then and there is nothing that you can do about it except widen it or deal with it. Depending ...

Do you believe brokers hunt your stoploss

I trade intraday trends. I use the stochastic oscillator for my entry signals and trade in the direction of the trend, which I use the moving average to determine. It's really simple in theory, but it's not for everyone in the mental aspect of it. ...

Anyone using previous Doji candle for entry?

I think the main thing that many aspiring traders don't realize is the toll that being a trader can take on your life. For the self taught trader, Cindy is exactly right. The people with the highest chance of success are the young, single, ...

Putting a Gun to your Head - 1 Piece of Trading Advice

I get what you're saying. I guess when ever I've used it I always used to redraw it every time I changed my bias but I suppose that isn't necessary seeing as the levels wouldn't really change. Ha you learn something new everyday.

Technical Trading Based on Fibonacci

I think it can be summed up as others have said earlier in the thread. Trading is a business. Many traders fail due to the same reason that most start up businesses fail. The barriers to entry are just pretty low in trading so people think it's easy ...

Why 95% Of All Traders Fail

I was in fact referring to the Fibonacci retracement tool. I have just never seen anyone draw it that way, but clearly it must work for you so it probably doesn't matter. What matters more is consistency.

Technical Trading Based on Fibonacci

I understand. Everyone has to find their own way of achieving profitability. Good luck to you.

My Journal

I have a question about the way you draw your fibs. You said that you were bullish in the photo here, but you drew the Fibonacci tool from swing high to swing low. I have always known it to go from swing low to swing high when bullish?

Technical Trading Based on Fibonacci

I don't see why using Daily time frames wouldn't be feasible with a full time job. I traded the daily when I had a full time job and only spent about 20 mins a day.

Anybody Trading the Weekly or Monthly Timeframe?

OP, my one question is why? You can't do this without taking excessive risk and then you are doing it on demo as well, which would not translate to being done live. I guess I just don't see how it is beneficial...

Trying

A. A 100% win ratio. B. Being psychic.

The impossible-question regarding Forex

Yeah it's more doable than you think. Again, frequency is the big factor in this. As a day trader, you can easily exceed 10%/month without excessive risk or drawdown by risking 1% of your account per trade. Then again, I am talking from my own ...

how long does it takes to become a successful trader?

In my honest opinion, you have been trading too long to still be using demo. You need to put up real money. It will take you even longer to become profitable if you keep using demo. Using real money forces you to be serious about your risk ...

My Journal

I don't really use candlestick patterns much in my trading strategy, but when I was swing trading stocks, dojis and spinning tops were some of the most powerful signals on the daily chart. They get you in for a very low risk high reward trade and ...

Anyone using previous Doji candle for entry?

It all depends. It's highly depend two things. 1. How low your cost of living can be 2. What kind of skill/style you have as a trader. For example, let's use your $500 per month example with a 10k account example and I will use a swing trader in my ...

how long does it takes to become a successful trader?

When thinking about trading for a living an important factor that people don't often think about is what standard of living we are talking about. If you have low living overhead as in no car payments, no mortgage, no family to support, you can wing ...

how long does it takes to become a successful trader?

I didn't have success with a breakout strategy. I am not saying that it doesn't work, but it is tricky. Most of them fail because they are obvious to everyone and big money knowns this and tries to fade almost every one of them to burn all the ...

When do you not trade a breakout?