1. Create your system on paper. 2. Examine a chart and see where you would have executed trades. 3. Drag the chart back a few months or years in time. 4. Slowly drag the chart, one candle at a time (F12 in MetaTrader 4) and log your trades in an ...

Back testing...is it a waste of time?

A trailing stop follows price based on a certain percentage or a fixed amount of points. It always advances but never retreats. If you have a 20 pip trailing stop and price moves up 20 pips, you will be trading a "risk free" investment (assuming ...

how to use "trailing stop" ?

Bah humbug! 9 orders a day? Can you focus on this many orders per day? Have you determined the correlations with these currencies and other pairs? Do you have stop-losses and risk management parameters set? Please! Protect your money and respect ...

Trading 9 pair every day

I'd research margin calls again and be sure that you have calculated everything correctly. Also, if I may interject some caution...please protect your money above all costs - worry about risk more than reward and your skills at trading will make the ...

S/L for new order

I am slightly familiar with the indicator, but might I suggest that you only stick with the default settings. See what all the other traders in the world are seeing so that you can gain an edge over them based on your understanding of price, the ...

EUR/USD Bollinger Band Discussion

You can open an account based on any currency you wish (depending on the broker). I'd suggest USD. Also, risk and reward as well as money management are calculated as percentages and ratios...the actual currency used does not matter. For all the ...

Home Currency

Of course it's possible...anything is possible in the financial markets...well, almost anything. Here's the deal though - unless you acknowledge that you are recklessly gambling, please don't pursue that course of action. Stick with a plan, learn ...

Strike out or home run trading technique

High timeframe trading is more profitable for a few reasons. 1. The moves are larger - a breakout upwards will be hundreds of pips and not a few dozen which smaller timeframes experience. 2. A trader has more time to examine the trade and spends ...

Weekly and Monthly TF trading - Wow!

Is it possible that you used more leverage to enter this trade than you should have? You could have been stopped out by a margin call.

S/L for new order

Finding support and resistance takes some time and some practice. I'd start by looking at the extremes on the up and downside of a range and try and draw lines which closely bound a range. It's vague, but it takes practice!

How to find support and Resistance levels?

Also, my favorite service is Timing Charts. url

Where to find Dollar index charts

Here's the formula for determining lot size: Expected cash loss from trade / market move which would cause this loss Your expected cash loss from trade is determined by the percent of your account which you are willing to lose on a trade. If you are ...

Trading without stop loss

I have respect for our president, but I do not agree with his policies in the slightest. I feel that leverage on the forex market is necessary, however I feel that newbies often die to it. I think that if the forex market required some sort of ...

Could 10:1 be the new leverage in US Forex?

The markets are manipulated on the small (or sometimes large) scale, but you can never corner supply and demand forever. Eventually pure economic law will triumph.

The truth about trading

The truth about trading: You'll never make money until you understand your edge and practice to perfection.

The truth about trading

Don't think we're going anywhere for the next 4 hours or so.

EURUSD

Haha I checked 3 times before doing it I'm never going to do it again though, I worried for a few minutes that it might be but I couldn't help it!

Can you intentionally ruin an account easily?

The place where the most learning will happen is within you. Write down a simple trading strategy and try it on demo and historical charts until you understand it completely. And James 16 teaches candlestick setups. I would create a trading system ...

Some help with James16 thread

I'd say there is no limit to how much you can make if you are nimble and professional. If you tell yourself that you can only make x% per month, then you will only make that percent per month. My best month I made a few hundred percent return. Since ...

Realistic Account Growth?

Sorry chaps, I used to be against the new leverage regulation, but now I'm in full support of it. I would never have been able to get where I am now without limiting myself to less than 5:1 leverage (2 to 1 most often).

Help To Stop 10:1 Leverage