If you hold a position over the weekend every now and then...you may be OK. But if you do it on a regular basis...you will increase your chances of getting burned very badly. It only has to happen once to teach a trader a lesson. There was a ...

A Little Strategy: Leave Trade Open Over Weekend? Yes, BUT...

I pretty much cursed a guy out once when he was trying to sell me on using fibs as a trading tool (very early in my trading career). Afterward, I looked back on some of my past trades and saw how some of the price points landed on fib numbers. There ...

Why 61.8%?

Simoneg, I am curious about how long you have been trading FOREX and what were your methodologies and results before you started using your fib method? TIA.

Simple & Consistent Fibbing Method

Excellent fib method......one of the best I have ever seen. My methodology is radically different from yours on the same plays, but we get similar results. You are getting more entries than me in most cases also. It goes to show how many different ...

Simple & Consistent Fibbing Method

If you read the book "The Tao of Poker" and simply replace "poker player" with "trader" there are a lot good nuggets of wisdom in there.

Poker vs Trading

You come off as being arrogant or someone trying to lecture folks. I don't need you to lecture me on proper forum etiquette. I could care less about your system. I can say whatever the heck I want as long as I don't insult anyone....you are the one ...

The Dance

Wow.....that's a lotta rules!!

The Dance

This is how I view risk/reward. It's not to say that it is wrong...it's just how I view it. If it is different from how you view it, then it is probably wrong I guess. I can project price targets pretty good within calculated ranges and I am also ...

The REAL reason why nearly every trader fails. Can you solve this trading dilemma?

I view risk/reward in this manner. If I am looking to short at some known line of resistance but decide to get in early by 10 pips....knowing that the "potential" profit is 60 pips....I am essentially risking 10 pips to make 60 pips. That's how I ...

The REAL reason why nearly every trader fails. Can you solve this trading dilemma?

As I've said before....an inexperienced trader will see randomness whereas an experienced trader will see structure.

Can you tell with naked eyes?

Forex is a little different from equities as far as large accounts vs small accounts. In the equities market, you need a large account because you only get 2:1 leverage.....so the larger the account the better. In FX leverage is not as big of an ...

(can) small accounts make a living ?!

I'd be completely lost w/o MAs. When you have used them for "years and years", you pick up certain nuances about them. The only reason I was able to pick up those nuances is because I used the same MAs for years and I never took them off my charts. ...

Why Moving Average?

Actually...what it means is that you have a bad system.

What is over-trading?

You are never overtrading if you are trading in accordance with your system.

What is over-trading?

If I know I am going to be away from my screen for a time, I will place an emergency stop far away from price action. Mental stops are definitely the way to go. If you have been trading for a while, you know when a trade has gotten out of hand and ...

Who is best ? stop loss or trailing stop

If you trade using random entries....then you should follow news events diligently because you could get caught. If you trade systematically...all you have to do is respond to the news event and plan your low risk entries accordingly. If a pair ...

How do you trade news?

The word "predict" is a bad word to use as it relates to the markets. It is really used by people to inflate their ego in my opinion. Predicting the market's movements is what a psychic might be able to do, even though they know absolutely nothing ...

Nuggets of Wisdom from Jesse Livermore, Greatest Trader Ever

Had this guy not blown his brains out; he would have been a household name.

Nuggets of Wisdom from Jesse Livermore, Greatest Trader Ever

The biggest mistake I ever made as a FX trader is pay attention to news events. The only news events that I pay attention to are FOMC rate decisions and the NFP. I have traded through news for a year with no problem whatsoever. You will freak out as ...

How do you trade news?

Everything is intercorrelated with one another. It's a catch twenty really....If I see a strengthening dollar...I may decide to short the EURO. If I decide to go long some other inversely related commodity, I could essentially double my profits. But ...

How Important is correlations?