This reminds me of a conversation I had with my wife last year. A couple we know, my wife's friends, were getting an appointment to see a marriage counselor. I asked my wife why (I didn't really care, but seeing as she brought up the subject I had ...

Stop fooling yourself; There is no system

How did you come to this conclusion? When we put on a trade, one of three things can happen. A close for a profit, a close for a loss, or a close at breakeven. How can I control the outcome?

Stop fooling yourself; There is no system

Yea, that's what I said, but I just didn't use so many words saying it.

Rationale behind "Risk Per Trade" and "Risk/Reward Ratio"?

' Chuck came up with these figures. Good for you for questioning conventional wisdom. I have a question for you. When questioning conventional wisdom, do you think you're going to get a satisfactory answer from the conventional?

Rationale behind "Risk Per Trade" and "Risk/Reward Ratio"?

To answer the question, it seems to me it all depends on where you are. Over the years I’ve seen lots of people on these forums attempting to learn how to trade, yet they already have careers. Doctors, lawyers, engineers, etc who are learning ...

Should I throw in the towel after being in the negative for 10 years?

When you record your trades on Excel, put in a column for comments. Here you record your thoughts. Was it a good trade, did you follow your rules, did you close out early, etc. The key is to not lie to yourself. I also keep a grade sheet on every ...

Do you record your trades?

Other than you are a troll, I don't think there are any other lessons to learn.

No more BS - What have you learned?

I was in Atlanta about 8 years ago. I had a check that had just been written for me. I went to the bank it was drawn on. After arguing with them because I didn't have an account with them, they finally agreed to cash it. They asked for ...

No more BS - What have you learned?

No.

Should I become a full-time Forex trader?

Well said and spot on.

No more BS - What have you learned?

I'm an American but my wife is a Brit so I'm covered. If I were some of you guys, I'd open an account or two overseas now. They may grandfather existing accounts. It just seems to me the path will be to deny Americans the ability to open offshore ...

no regulations stopping US residents from opening offshore accounts

I've learned that trading is really learning about yourself. The things I've done over the years in pursuit of consistency would probably not have been done otherwise. I can honestly say I'm a better person because of trading.

No more BS - What have you learned?

This might be true for those who are investing 5k and are worried as hell about their money. But for those investors who actually have money, most of them understand the nature of investments, that down periods are inevitable and they don't really ...

Do Investment Bankers make a lot of money compared to traders

Life is full of luck, bad and good. The fact I was born a white male in the US is an unbelievable stroke of good luck that I've been able to capitalize on my whole life, knowingly and unknowingly. There's a lot of luck involved in everything. If you ...

Some lessons from the real world

How We Decide by Jonah Lehrer. Not a trading book per se, but it provides insight into how we make decisions. Trading is all about making decisions so it's only sensible that we should understand that process. It explains why we suffer from ...

Best forex and/or trading book you have ever read?

Great thread, Graeme. I'd like to post a chart illustrating your idea of buying/selling in relation to the open. I believe one of the hardest things for people to do in trading is to sell when price is going down or buy when it's going up. I believe ...

Building an equity millipede

To get 10 pips a day, put up this indicator. When price is moving towards a xx00 number, buy/sell 5 pips before it and close at 5 pips after it. It works quite a bit. A bit of discretion is needed as you need some momentum to get through the number.

Poll: What is the best way to make a few pips a day??

I just got their demo and it's set to GMT which is precisely what I wanted. Thanks.

MT4 4 digit charts

Oops!

MT4 4 digit charts

Thanks for the info. I understand why they use the fifth digit, but I sure don't like looking at it. I found this indy that puts the price up on the chart into 4 digits. Still, I have to train my eye to just ignore that last one when looking. With ...

MT4 4 digit charts