First congrats on your progress! As far as friends and family member's money, my advice would be don't do it! Wait until you have a year of two of consistent profits behind you and are totally confident in what you're doing. When the time comes to ...

managing assets from family & friends

Good post, some great points!

why I DON'T need a forex mentor

If you're referring to the thread topic, and then the comparison and distinction between mentors and training course vendors then everything is in this thread, but please feel free to challenge as long as it's not vendor specific or something which ...

Forex Mentors - The Best Investment You Can Make?

I guess mikkom is right, the thread is supposed to be about mentors (or more accurately it started out as a promotion for a vendor on this site), so here's my final..... LasVahGoose - "predicting probable price direction" pretty much means what it ...

Forex Mentors - The Best Investment You Can Make?

You said "It makes more money then it loses? You have a strategy that puts the odds in your favor?" which is a bit of a blanket statement. I was just asking what you thought was the most important apsect of your system, ie predicting probable price ...

Forex Mentors - The Best Investment You Can Make?

Anything better than what, fixed sizing do you mean?

Forex Mentors - The Best Investment You Can Make?

Come on David, you're a smart guy, that's like saying there are only 7 colors because there are only 7 colors in the spectrum. You've neatly listed basic aspects of trading and by process of elimination using an EA as reference have concluded that ...

Forex Mentors - The Best Investment You Can Make?

Yes, but by doing what primarily? Predicting probable price direction, managing risk, managing the trade, which one would you say is the most important?

Forex Mentors - The Best Investment You Can Make?

I disasgree, I think position sizing and trade/risk management is even more important than entry. As it's impossible to say which way a trade will pan out trading becomes a game of strategy, in my experience there's more to it than limiting ...

Forex Mentors - The Best Investment You Can Make?

Thanks for the link, interesting stuff. I think I slightly lost track of the point I was making, it wasn't whether the markets are random or not, it was how much difference does it really make to us as traders as far as the way we manage our trades ...

Forex Mentors - The Best Investment You Can Make?

Do you know if anyone has done any research on this (ideally in the forex market), I'd be interested in the results. I did a quick google but there were way too many unrelated hits (and how 'random market' brings up porn site hits I'll never know!!)

Forex Mentors - The Best Investment You Can Make?

I was thinking more in practical terms of what primarily makes a strategy profitable ie the analysis, money management, trade management etc

Forex Mentors - The Best Investment You Can Make?

Ok, so $100 to -$3000 in a week. Maybe look up 'money management' would be my suggestion!

Scalping Signals

Metatrader for me!

Scalping Signals

But what makes the strategy profitable, it's predictive qualities?

Forex Mentors - The Best Investment You Can Make?

Agreed.....or rather disagreed FWIW I actually agree with you, I don't think the markets are random either, I was just playing devils advocate for the sake of debate.

Forex Mentors - The Best Investment You Can Make?

Right there is no faith in the analysis, you accept it for what it is, a probability indicator to help us choose whether to go long or short. We (should) all accept the market could go either way so we base our trades accordingly. If price goes in ...

Forex Mentors - The Best Investment You Can Make?

For a mechanical system which is profitable for the 10% I would have to go with number three, "maintaining the necessary discipline". As the outcome of a trade is unknown all we can do is allow for that fact when we plan it. If we can't predict ...

Forex Mentors - The Best Investment You Can Make?

Ah right, ok, I was thinking 'system' as in something which generates buy/sell indications. I guess the next question is how much of that system's edge is based on the probable direction of price, and how much faith does it put in that analysis? ...

Forex Mentors - The Best Investment You Can Make?

Mentors don't give students trading signals, they teach exactly what you say they should, for students to spread their wings and fly from the nest. Don't confuse a mentor with some half-baked training system someone is selling

Forex Mentors - The Best Investment You Can Make?