Actually, I rarely gamble. My wife likes to play slots so I have to humor. Not good odds so I tend to wander, waiting for the I am done. I usually lose less than 100 but wife is happy so its a win/ I have 4 tested strategies, 2 for trending and 2 ...

Can YOU make money as a trader?

It has been a while since I posted here. One rule that has kept me out of trouble is to be patient. It is ok to miss a move. It is NOT ok to get in early on a carry trade (in retail forex there is interest differential) and hold on for dear life ...

Can YOU make money as a professional trader - Redux

Sorry to call Mingary out but sometimes people need to hear the truth. If you think you can get rich quick in anything in life, you are going to lose. Scammers will pick your pockets. The only get rich quick thing that works is death of a wealthy ...

Can YOU make money as a trader?

Trading is a business for professional traders. Does not matter if its forex, corn, grogery, or IT. All the same. The people who make money in business have a plan before they start the business. Even with a plan, often they did not have sound and ...

Can YOU make money as a trader?

You are saying a move of more than 2 cent down vs just a little over 1 cent up. Not a good bet. On the plus side, with ranging markets like this, would not have to pay for the lost bet for a while.

EURUSD only

This often happens after May selling and can go on and on to drive you crazy bullish EURUSD. While they unload their longs to the breakout traders to bank profits. image This game is won by patience and lost by impatience.

EURUSD only

Closed out all position at 1.1333. SL was not hit the other day but Euro definitely the strongest currency and no reason to sell now but no reason to buy either. Looking to sit this one out now, playing in a different arena, until the movers stop ...

EURUSD only

Nice M on 4 hour. It may be a fake as almost a W to the left but I will go short. sold 1.1268 caution above 1.1311 stops above 1.1340 targets 1.1236 1216 and 1200 image ---------- EDIT ----------- Lost track of time and date. been hanging with ...

EURUSD only

Looks like we should get some chop the week. No guarantees but will be buying dips and selling rallies. Quick in and out with 20 20 moves. tp 20 sl 20

EURUSD only

Only 52? That is old. Dude, you need to stop aging. I am 35 forever

False Prophets

Excellent post why trading is NOT like a casino. You don't have to put your money down BEFORE you know what cards are dealt. In trading, we have the cards dealt before we trade. So anyone who has tested trading strategy can take money from the ...

Can YOU make money as a trader?

"Fact is: Retail forex is a negative sum game for losers." I used this wholesale/retail as basis for my argument. You laid out a fine example of all the businesses that depend on the next customer in the chain. And each business in this chain, 95% ...

Can YOU make money as a trader?

Turned some profit from a pretty reliable cycle. I admit I was doing a little add at tops and cover at bottoms to make better gains but nice movement these last few weeks to complete the cycle. My next cycle trade for this pair comes in August. Will ...

EURUSD only

A question to your logic? At the retail market, a grocer is selling Tilapia for 5.99 lb as a special. Where I live has large illegal immigrant population so Tilapia like Salmon. At the wholesale market 40 miles away, Tilapia sells for everyday price ...

Can YOU make money as a trader?

Wow, almost like magic, as soon as I post, the strength of area rejected price. image

EURUSD only

The 1.1100 area is a big resistance area. Ironically, the May 2017 wicks (the May that was not a down month) are really strong support from the wicking in May. I think price will push through and then revisited from below. Then we go with the big ...

EURUSD only

Turning out to be a pretty good month as it is tracking lower. I will be looking at history for clues into June trade. Scalping has been better moneymaker as the chop from politics has been fantastic.

EURUSD only

I will rephrase it for my understanding. Eugene Fama (whoever he is) has stated that HE cannot win at retail Forex. And that is true. Whether he believes he can or cannot, he is correct. As I stated in my redux: 80% of new businesses fail in first ...

Can YOU make money as a trader?

Lessons learned from any aspiring traders. Quite a few losers in here posting how you will lose in trading. The goose - lost it all. Hudinpuff - lost it all. Fact is - most will end up as these poor planners did. Don't make the same mistakes. Get to ...

Can YOU make money as a trader?

So far, the long term trade has been dead money. On the positive side, at least it's not like May 2017 image

EURUSD only