I wish you were correct but you are not. There are many winning trading systems that are known and are freely available. People do not have the discipline to trade them. Most people cannot sit and watch a market without taking trades. I trade ES ...

Why isn't everyone rich?

In 2011 I had a long and heavily read thread here that explained in complete detail how one can trade and be successful. I even opened a new sub-account with my broker and linked it to myfxbook and traded it for a month. The gain for that month was ...

Why isn't everyone rich?

I just finished this trade and thought I would take a minute to explain the trade, the reasoning, and the process. A few things first. 1. I have changed my daily open to the 5pm rollover. 2. I still use open, close, high, and low for most of my ...

Real trading education

I just bought yesterday low in EUR/USD. It is also the current week low. This could go up or down. We are on major support and I am buying a low so I think it could work out but if it goes against me I will close it at a loss and take the next ...

If you haven't made it yet, what makes you think you will?

Thank you. I always lurk here but don't post much any more. No return on the effort. I just hate to see people struggle with trading when it boils down to such simple concepts and to personal discipline. There are so many people on this site with ...

If you haven't made it yet, what makes you think you will?

I would use NY for USD/CAD. I just grabbed that chart and marked it up really quickly. Just showing tops turning to bottoms and bottoms to tops. Not really looking at closing prices on that one. In fact the support and resistance represented in that ...

If you haven't made it yet, what makes you think you will?

Yes I have seen them. I disagree with him on buying ANY low. But I load up on yesterdays or last weeks low. I was using the one period average years ago it just seems to help with spotting intermediate highs and lows. It is an old trick.

If you haven't made it yet, what makes you think you will?

image Trading is so very simple. The same trades that have worked for generations still work every day. Sell highs. Buy lows. Market closing prices matter. Especially London and NY closing prices. Tops become bottoms. Bottoms become tops. People ...

If you haven't made it yet, what makes you think you will?

If you are a winning trader the broker will hedge your positions into the market and only make the spread. If you are a losing trader most brokers take the other side of your trades and keep them on their internal book. The idea is they make the ...

Brokers prefer to win or lose ?

This may help you. You seem to be buying the tops and selling lows. Need to study this and see where the buys are. Green lines indicate a buy when broken. Red will be a sell if broken. image

100% bad luck or bad timing?

video Another newbie.

Real trading education

1:50 is plenty of leverage. For anyone other than a super disciplined pro you can ruin your account with that much. I do hope that they eliminate first in first out though. That is just a pain in the butt.

Trump Dodd-Frank

Maybe you know that trader. I don't and I am not endorsing him. The concepts in the interview are what I wanted to get across to unprofitable traders. 1) You need an edge. 2) You need to give yourself time to learn. 3) You need to bet small until ...

Real trading education

I didn't say capital gains is 60%. I said 60% of your income is taxed at the capital gains rate and 40% is taxed at the regular income rate. Futhermore you are not required to log each trade separately as you are with equities trading. Reporting ...

Pay Your Taxes

Get a GOOD tax attorney who is familiar with trading. In the US you are taxed at 60% capital gain rate and 40% normal income rate. You are also allowed to carry forward losses from previous years if they exceeded your gains for the same period. You ...

Pay Your Taxes

Not really. Stops get a little too big for comfort. I suppose you could trade those prices intraday but you would run a higher risk of stopping out using an appropriate stop size for intraday trading.

Ramblings of a Forex Junkie

I've been pretty fortunate to not be caught in too many of these types of situations. I can remember a few times over the years where I have been slipped eight or ten pips. I haven't really been caught in any of the "black swan" type events or ...

Ramblings of a Forex Junkie

I am only testing news trades and other new things. My primary accounts are still traded in exactly the same manner. I still love to sell highs, buy lows, and fade market closes. Simple trading as explained here. The Explorer is my test account so ...

Ramblings of a Forex Junkie

I like these news trades. Not sure how they are going to work out longer term but they seem to go pretty quickly most of the time. Going to be experimenting with these a lot over the coming weeks.

Ramblings of a Forex Junkie