I agree with you for the most part, except that I trust my system very well and I risk 6% per trade. I have no cap on my total position risk. It comes down to trusting your system. The 2% rule is really just there to help newbies in the beginning. ...

How do you trade news?

...and LBT can help you in that area. I'm not entirely sold on the framework. I think it's a good framework and has merit, but I can plot standard Fib lines and get the same accurate movement based solely on the fact that everyone uses Fibs... I ...

Support and Resistance

Good post. You will find that as you progress in trading you will more and more rely less on indicators and the like and more just on price action. If you're already thinking that way, then you're well on your way. I typically trade using ...

Support and Resistance

Jessie, why are you so upset? I find your comment regarding re-reading Mark Douglas' Trading in the Zone, and the fact that you blew 30% of your account VERY VERY (did I mention, VERY?) IRONIC. Most people who are new to the business, do this ...

How do you trade news?

If you think for a second that some broker is going over this thread and telling his cohorts about the infamous breakout news strategy, you're kidding yourselves. Breakout strategies are so common it's crazy. Brokers could care less. Do you know ...

How do you trade news?

Sheesh MM. That's clueless n00b behavior if there ever was one...

How do you trade news?

Spreads will always change, but they've never erased my profits because none of my strategies employ a model where spread changes are a concern. My strategies dictate that I don't enter or exit trades before a news event, after 1PM on Friday's, or ...

OANDA users...how do you profit when spreads change

I really like QLock. It's not free, but it's only 10 or 15 bucks...

I Need A Mentor!!! Here's Why...

I couldn't agree more.

Isn't it better to just copy someone else's system?

Is that what we're calling ATMs these days? :surprised (Oh no he didn't! Oh yes I DID!)

How do you trade news?

Gotta love ole' Ed... one of the greatest Trend Traders out there...

Isn't it better to just copy someone else's system?

Forex was costing me alot until last week when I scored $16,000 on a super easy trade that I took the opposite direction on... Poor guy... :surprised (Sup, MM?) :

How much is forex costing you?

Because everybody gets what they want out of the market...

Isn't it better to just copy someone else's system?

I tend to disagree. If 90% of traders don't make money in the markets, it's because 90% don't have their heads on straight. With that high of a percentage, I'd bet on the fact that eight out of ten won't be successful in six months. ...and that's ...

Isn't it better to just copy someone else's system?

...and just to segway off of MM's post, I could give ten traders my two strategies which are simple, profitable strategies, and eight of them would still lose money because they don't have their head on straight or they'll try to hack the crap out ...

Isn't it better to just copy someone else's system?

Averaging down is a big mistake. The fundamental reason to average down is to prove to yourself that you're right. That means that you have a hard time being wrong, which means that you're going to consistently lose. The guys that make money and who ...

Increasing size on a loosing position

Welcome to the forum. You might consider daily and weekly timeframes... anything less and you'll have some problems. You have enough odds against you right from the start. Don't make timeframes an issue. Just like truck driving, so too is forex. You ...

Brand New Here...

Oh, ok. That explains it. I was wondering why my big win of the week seemed pretty easy... Oh no he didn't! :surprised

How do you trade news?

Trade #6: 23:05 PST S GBPUSD 1.8429 SL 1.8441 PT 1.8421 23:18 Stop Hit P/L: -12 pips Total P/L: -15 pips

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