1% a day is possible but not everyday you have to accept that losing periods, bad days happen and you should handle them accordingly consider only in aggregate statistics.

1% to 3% Per Day? All things are Possible

1:2 or 1:3 reward ratio is better than 1:1 because smaller loss is easier to handle emotionally, larger loss can make you less comfortable and also corrupt your feeling of safety and correctness of trading decision.

1:1 Risk/Reward Frowned Upon?

BoJ should soon intervene I think, last time it was at 145 Yen per USD. Let's see if they perceive dangerous level somewhere higher now

HotForex Discussion

You can learn how to trade however profitable trading is much harder. Also it is extremely difficult to make profitable trading system and verify that profitable trades really comes from the trading edge, not from pure luck.

Can trading be self-taught?

It depends on the number of liquidity provider that broker uses, its participation in market making (which should make spreads lower). Also gold is quite volatile which also negatively affects spread.

Gold Trading Issue

To not lose motivation simply concentrate on the trading process itself, not money. This will help you to avoid frustration related to losses which is often the key reasons why newbies abandon trading too quickly

How do you newbies not lose your motivation?

How we can use them in trading if we don't know exact probabilities?

Using the Kelly Criterion in actual trading

We can also expect with decent degree of certainty that there will be sharp price movement during economic releases such as NFP. We can't predict direction though but certain price characteristics cab be known in advance. In my view this should ...

Why it is possible to predict price movement?

Most probably the systems that they share simply don't work or don't work as expected and need some improvement or close to be dead (tiny profits that don't worth the time spent). It can be though driven by altruistic behaviour but considering that ...

why do people share profitable systems?

Trading with a plan which includes rules on where you cut loss or take profit helps to avoid emotional pain from bad trades. Trading plans removes hopes from trading which is essential as decisions driven by emotions are usually suboptimal.

Any Advice for a Beginner?

I use hidden stop loss (a condition which is included in my bot's trading logic written in python) which can't be seen by my broker (as usual stop order).

Do you use stoploss?

If you are good at timing potential peaks and throughs in asset price (not exact but at least close) then you can make money with martingale for some time but in the long-term this strategy is unsustainable.

Martingale or not martingale?

AML rules are pretty strict especially when dealing with cards. If the card isn't expired idk you should present a proof that it's you card. That's why I always deposit and withdraw using online payment systems, no issues at all

Broker doing things very weird these days

Depends on stability of spreads obviously. Unfortunately you can't figure out this in advance only trade statistics will show the impact of spreads.

Broker has high spreads

Without drawdowns this strategy looks like building up risks which obviously ends up badly.

Truth about Copy trading

It is gambling, no? The leverage should be huge..

The best or worst...

I guess some traders are simply good at finding tops and bottoms (i.e. the edge is correct timing in macro or medium term trends) if they wrap it into Elliot Waves then it may seem we get a proof that they work. However the theory in my view behind ...

Do Elliott waves work?

Maybe presence of momentum? This can be measured easily and also prices tend to rebound after they moved too much in a short-period of time

What To Pair Divergence With?

Second approach is try to predict some important in terms of market impact events. Can be considered as fundamental analysis though. Like economic report outcomes, Fed decisions etc. If you are consistently good at those predictions you can expect ...

Can you tell when the currency is overbought or oversold?

I suppose you need to look for brokers outside of EU&UK jurisdictions for example offshore or ASIC. However Au brokers will likely cap available leverage too.

High leverage / low spread brokers?