Hey BW, Very well said. I think it is also hard to convey what we are saying since it is in text form. No tone or facial expressions. Mix that with ego and you get a lot of folks getting feelings hurt. Which is silly. Very few of us personally know ...

The brutal truth of day trading

Hey RickM, You do understand I am not trying to slight you or go against you. No need to defend yourself. I was stating that you are under estimating yourself. You are doing good. I mentioned before that I have more than a few colleagues and friends ...

The brutal truth of day trading

Hey RickM, I did say 2% OR LESS. That 35% was an example. If you risk $250 like you say and collect $50 you just returned 20% on your risk. If you make $5 you just returned 2% on your risk. Get what i am saying? Also I am not a day trader. Have not ...

The brutal truth of day trading

Hey BWiliam, Great post. While a agree with most of what you say, I also want to add that I did have to start small on the lower time frames. I continued to work and add funds from jobs and any profits that I made. As time went on and I got older ...

The brutal truth of day trading

Hey RickM & ryuyryu, Risk to reward ratios are under the same category as win loss/ratios. Junk. It means nothing. They only thing you can control with a good amount of certainty is risk. Sure you can risk 50 and want to get 100 for a 2 to 1 ratio, ...

The brutal truth of day trading

Hey cuchuflito, Great post. It is disgusting how much a trader loses if they decide to hold a trade. I swear, this whole retail trading, FOREX, FUTURES or otherwise is designed around convincing people that day trading and scalping is the best way. ...

OANDA Discussion

Need I say more. - Ric

The brutal truth of day trading

Hey ryuryu, scherzi is not someone who is willing to defend an idea or position. Instead they will ignore you. Save your effort friend. This is the ego I was speaking of earlier. - Ric

The brutal truth of day trading

Hey All, I will just say that not using a Stop Loss in general is added risk with no upside. While I disagree, I can understand why scalpers, day traders may elect not to use a stop loss. However, if we are talking about higher time frame trading, I ...

Do you use stoploss?

Hey All, No USA clients unfortunately. Best bet in the States is Interactive Brokers. They have dropped account size and inactivity fees. See pic. This is from my e-mail. Trade anything you want from same account including FX futures, metals, ...

The Really Useful Grains/Soft Thread

hey cuchuflito, I understand your frustration. I have been with Oanda for over 10 years. As I have mentioned in the past, I have all but left the retail FX game. I withdrew 95% of my funds from Oanda. CVC has messed them up bad. I split the rest of ...

OANDA Discussion

Hey All, For my 2cents I will say that BTC and all cryptos are/were over valued. Just like the overall market and real estate. Look at cryptos as the canneries in the coal mine. When things go south people start by getting rid of the riskier assets ...

What about Bitcoin... :)

Hello Winston Reed, As I said. You can not rely on back test data to give the same result as live forward testing. Despite you and I saying basically same thing, scherzi took offense to me saying it but he thumbs up your post. Interesting. - Ric

The brutal truth of day trading

Hey scherzi, I am sorry to tell you, and no disrespect but you could not be more wrong. There is a mountain of difference between back testing old data and live trading. If you do it you will quickly find out that it is true. This topic has been ...

The brutal truth of day trading

Hey hazelj80, I totally get what you are trying to do but it is not as easy as it sounds. Especially if you start to pull in some real cash. Making a few thousand bucks the IRS will not notice you at all. Start making a yearly salary and it will be ...

OANDA Discussion

Hey hazelj80, I don't find any issues but I am not a scalper or short term trader. I mostly trade the EURO on the futures market. End of day trading has between 750K to a bit over a million in volume each day. More than enough to cover several ...

OANDA Discussion

Hey HTC, My point was it is only good to test if a theory is viable. Trading live is the only real way to fully test if the theory will pan out. However, before you go wasting real cash on a untested theory, back test using the best data you can ...

The brutal truth of day trading

Hey HTG, The line of thought in your post is great. Also true. People want the truth but can not handle it. A lot of people are weak minded in general, never mind in trading. I MOSTLY left Spot Forex trading. I still trade it just in less of a ...

The brutal truth of day trading

Hey BW, I appreciate the way you speak about the market and this master algo theory. It boarders on religious. Which is great. Your beliefs lead you to profits. Amazing. So many different ways to trade the same markets. My story in Forex is over 20 ...

The brutal truth of day trading

Hey rockit, You may be able to enjoy that in Germany but in the USA, we have no such luck. - Ric

OANDA Discussion