I wish I had a golden ticket that would get you past all the psychological hurdles to making a profit in the markets. Reading "Trading in the Zone" by Mark Douglas might be as close as I can come. Once you have some trades running that are making ...

Multi-Lot Multi-Timeframe Position trading

Continuing our discussion on improving our r/r ratio. A third risk to greater profits can be described statistically. The longer we stay in a trade, the more likely we are to experience a spike in price that will drive us out. I'm not talking about ...

Multi-Lot Multi-Timeframe Position trading

Looks like things are settling down a bit now. The ECB unexpectedly leaked their QE plans early and it caused a bit of an uproar. I expect some more volatility when the ECB makes their official announcement tomorrow, but most of the storm may have ...

Multi-Lot Multi-Timeframe Position trading

I agree. Risks are unmanageable at this point. Traders should take steps to protect themselves from extreme volatility.

Multi-Lot Multi-Timeframe Position trading

Already done. Glad to see we are thinking alike

Multi-Lot Multi-Timeframe Position trading

Excellent question Luca. Studies show that most Forex traders actually win most of their trades. So how is it that most lose money in Forex? Simply, they tend to lose much more on their losing trades than they win on their winning trades. ...

Multi-Lot Multi-Timeframe Position trading

Hi McPoint. Yes, regardless of what the ECB does, expect extreme volatility. Swiss foreign reserves are about $550 billion and half of those are in Euros, so roughly $275 billion in Euros. They will definitely need to offload those Euros at some ...

Multi-Lot Multi-Timeframe Position trading

Sure, that's one way to look at it.

Multi-Lot Multi-Timeframe Position trading

IBO, Generally I will reduce lot size as needed when taking a basket of trades, like several JPY trades, to control risk. Usually, those trades would be taken over a period of several days. The best trades run for weeks or months, so taking only 1 ...

Multi-Lot Multi-Timeframe Position trading

Yes, that always happens when people trade without a stop. They do great for a while, then it blows up. Set your stop wide and take your exits manually. Why let the market's whims control your exits? Take control of them yourself, and still keep the ...

Multi-Lot Multi-Timeframe Position trading

An interesting experiment. Keep us posted on how this works out

Multi-Lot Multi-Timeframe Position trading

The USD is the strongest currency at the moment. That might change due to having idiots running things over here, but we can only trade what we see. If the SNB quits trying to manipulate the markets, I will trade Chf again. At the moment, I'm in a ...

Multi-Lot Multi-Timeframe Position trading

I agree. It best to learn this either in demo or trading the smallest micro lots, like 0.01 lot. 10 stop outs are a lot for 1 week. I'll usually only have a few. How are you setting your stoploss? I don't set my stoploss to BE very soon. If I had ...

Multi-Lot Multi-Timeframe Position trading

Sounds like a good plan Eric. Yes, after enough years, the market rings that last bit of emotion out of you. Try trading rather mechanically at the beginning to avoid emotional decisions. Our goal here is to let the trend work on our trades over a ...

Multi-Lot Multi-Timeframe Position trading

You should be swimming in pips today. Good trade! Thanks for sharing the chart. G

Multi-Lot Multi-Timeframe Position trading

All trends end, but we never know when. Take a good bit of time to study the weekly and monthly charts to convince yourself that most good trends run for months or years. I agree that you should try to trade rather mechanically in the beginning, ...

Multi-Lot Multi-Timeframe Position trading

Good question IBreakOut. Most of the risk in this system is at or near the beginning. As it trades over time there should be no risk at all. So to reduce risk to my precious trading capital, I will often enter with a test lot of 0.5 lot. If it ...

Multi-Lot Multi-Timeframe Position trading

Hi EZ. I haven't had a lot of luck with programmed trading, but this would be an interesting experiment to run if you have the time. I'd suggest running two instances of MT4, one that enters as soon as the indicators line up, and another that waits ...

Multi-Lot Multi-Timeframe Position trading

I agree, but be aware that a stop loss isn't enough protection by itself. My friends account was damaged when the Swissy gapped over 1000 pips below his stop loss. It's just a fact that if price gaps far below the stop, a stop loss cannot execute as ...

Trading without stop loss

Lots of family obligations this weekend. I'm thinking over your post. I'll come back to it tomorrow. Time for rest now. zzzzzzzzzzzzzzzzz G

Multi-Lot Multi-Timeframe Position trading