I agree that you need a profitable system but at the stage when I was trying to build a system, I could never see any progress with the use of indicators. There are profitable indicator-based systems but someone at that stage should also consider ...

I'm up to something (I think)

Yes, and It's just a matter of preference and doing what works for you. There are many different ways to trade and see consistent profit. If one can actively monitor charts then making a decision to take a loss can come from careful analysis but, I ...

Trading with no stop loss

My Kill switch is actually lower. 5% but in some pairs with high volatility like GJ and Gold, it warrants rasing to 10% to keep that equity growth looking good. I absolutely despise sitting at the computer steering at the charts managing trades so ...

Trading with no stop loss

See beautiful equity growth... no stops just orders, a profit target, and a kill switch when Draw Down Limit is reached. I've noticed that this can be applied to many trading strategies that fail with a stop loss. image

Trading with no stop loss

I say no stop loss but, you've got to have a kill switch say when your account drawdown exceeds 10%. I recently got rid of them. best thing I ever did. But my EA closes all positions when the DD limit is hit which rarely happens. And by then the ...

Trading with no stop loss

Kudos on your success. I aspire one day to get there...

What is the most important question for a new trader?

I disagree with the first part of your comment. That's why I said, it's not necessary. There are many successful traders who cannot code. Not all trading systems require complex mathematical calculations and automation. For manual or semi-automated ...

What is the most important question for a new trader?

Not necessary. If you decide to automate any part of your trading, you can use products already created by others to achieve what you want. If you can't find the desired product, you can have it created by a programmer.

What is the most important question for a new trader?

True if you're a scalper. But if a new trader decides to take a swing trading or position trading approach this is not practical. One can set alerts at key levels/supply and demand zones or when desired setups are identified by a scanner or EA, then ...

What is the most important question for a new trader?

The most important question for a new trader: Will I enjoy doing this enough to have the courage to push through the challenges until I become successful? Becoming a successful trader is a process with many challenges: But to become successful, ...

What is the most important question for a new trader?

Yes, hedging works but for me personaly, it's more practical on higher time frames. I trade higher time frames because i don't like stearing at the charts. With the use of stop loss and risk reward, one can set and forget until your stop or take ...

Just learned about hedging, does anyone use it for scalping?

Now things are a bit too heated and serious in here. Adding a little humor to the mix. image Absolutely love this thread!

Just learned about hedging, does anyone use it for scalping?

On point! After testing this numerous times and always ending up net profit. I am wondering why more trading courses don't teach this? The stop loss is like death by a thousand cuts! While the hedge allows you to take profit strategically and ...

Just learned about hedging, does anyone use it for scalping?

Hi ryuryu, That would work too. It can work with or without the use of indicators if that's ones trading style. However, I trade price action and take signals around key levels primarily from bullish or bearish engulfing candles or pin bars and ...

Just learned about hedging, does anyone use it for scalping?

Thanks for the suggestion MoneyZilla. Sharing some more hedging test results from manual backtests to this thread. I've been testing hedging as an alternative to stop-loss / risk-reward with my trading strategy. Will continue to test and share ...

Just learned about hedging, does anyone use it for scalping?

Hey MoneyZilla. You are speaking to the converted. Great input on this thread. Over the course of my current trading journey, I've had many aha moments that have transformed my results, and delving into hanging is one of them. I decided to try ...

Just learned about hedging, does anyone use it for scalping?

I prefer the following pairs and only trade these six pairs 1-2 at a time: EURUSD, GPBUSD, AUSUSD - Because of low spreads during respective sessions. EURJPY, GPBJPY, AUSJPY - Because of high volatility (price moves a lot on these pairs and you can ...

What FX market do you prefer to trade now-a-days?

Love this thread mate. Lots of golden nuggets! Thank you KeenPips.

Stop searching for the 'Holy Grail', work on yourself!

Don't give up! Keep practicing. Squeeze in more practice time by manually backtesting your strategies in various market conditions. Manual backtesting tool for MT4 - url

8 Years Later - Still Not Winning

I am not where I want to be yet. Success is a journey... But, The biggest improvements in my trading thus far came after: 1. I got rid of all indicators and focused on price action on naked charts. 2. focused on trading only higher time frames. 3. ...

What Was Your Turning Point In Trading