First truth. The trader must learn to take losses. If you as a trader are unwilling to take a loss you will eventually take the mother of all losses. If the trader is unwilling to take a loss he or she will be forever closing trades with tiny gains ...

Ramblings of a Forex Junkie

Attempting to save trades by entering ever increasing trades in the same losing direction is, plainly put, dumb. How do I know? I tried it once. Never again.

How to rescue a losing position?

If you are sizing your positions properly your losses during a losing streak should be progressively smaller. As traders we know that we are exposed to these losing streaks and must plan our money management accordingly. If you find that your ...

How do you cope with losing streaks?

Context — Please go back and read my earlier post. url Context is crucial to trading these bars. Please spend some time and go through some charts. Don't go to the highs and lows and see the beautiful bar and think you have the holy grail. ...

True Trading Tactics

Fail, I hate Mondays.

B.S. Trading with Kenneth Lee

Change to five minute chart and in upper chart menu change to bid ask chart and check to see if the ask fell below your order. It probably did not as this pair has a wide spread.

B.S. Trading with Kenneth Lee

trade — Took this a minute ago.

B.S. Trading with Kenneth Lee

Spreads — I don't view spreads as an actual cost. I view them as more of a hurdle that must be jumped before getting profit. Once you overcome the spread on your way to your profit target the transaction cost is no longer a factor. Your entry ...

B.S. Trading with Kenneth Lee

Let me start by saying I still work full time. I did however seek out a job that allows me access to my laptop during London and NY sessions. I am not supervised at work and as long as I complete the job noone cares what I do. 1) Can you live for a ...

A switch: from part time trading to full time trading

I traded for a friend a couple of years ago. If the account stays in the owner's name and you don't charge (friends, family etc) then there is no regulation. If you are charging and pooling funds you need CTA and series certs. This is for US. Other ...

Trading other people's accounts

correction — Example two above should read testing demand not supply. I have shorts on the brain today after selling NFP report.

True Trading Tactics

Are you patient? — These bars do work but if you just take every one that comes along you will loose. You have to find the right situations. If you only took three or four trades a week but had an impressive win rate and good r/r would you be ...

True Trading Tactics

Fxstreet.com — All his videos are on the fxstreet website. I don't trade the exact method but I used to have trouble with buying and selling into resistance and support. When I found the Seiden stuff it turned my trading around because I could ...

Trading Currency Futures using Sam Seiden Supply & Demand levels

Time frame — You're not incorrect but wicks on a four hour time frame will contain real bodies on the one hour or thirty minute. This is why Seiden drops down after identifying levels on longer timeframes. I think Seiden recommends using the ...

B.S. Trading with Kenneth Lee

Stop moved to BE+20 if it comes back up again it probably won't stop. Supply probably used up at this point. I don't know if the claims number was good enough to start risk on today but it has been a wild week.

B.S. Trading with Kenneth Lee

Wild week — Today is the first day this week the one hour levels have held in E/U. Still in short from 1.3205 four hour supply holding for 29.75 demand. Hasn't been easy and news in six minutes may change my plan.

B.S. Trading with Kenneth Lee

Oanda — I have been happy with Oanda. If you use them live I suggest using the MT4 for charting only. The execution is much faster with FXtrade. Never had an accounting issue with them. No requotes, only the widened spreads for news etc. The ...

B.S. Trading with Kenneth Lee

Breaking news! — E/U makes abrupt turn at four hour supply 1.3205. Next stop four hour demand 1.2975? Now back to your regularly scheduled program.

B.S. Trading with Kenneth Lee

Closed -4pips on trail stop. Can't mess with the carry trade even with bank downgrades.

B.S. Trading with Kenneth Lee