You are correct, it does indeed take work, time and effort to develop your own strategy, but this is where success is. It is, however, not difficult. If you aren’t prepared to put in the work of developing and testing your own strategy then you’ll ...

for the working people

Developing a trading strategy is a matter of looking for patterns, then devising ways to exploit those patterns. Patterns occur in every time frame, so you could (for example) develop a strategy based on daily, weekly or even monthly time frames. ...

for the working people

“Apparently blowing up an account is an essential part of the learning process.” No it isn’t. its an essential part of the “failing to learn” process. It’s great that you haven’t lost all your trading capital, but to be blunt, so what? It’s a bit ...

I've never blown up an account, demo or real....

You can’t simply open an account with an ESMA regulated broker with a branch overseas. Many have tried. There is an answer though, open an account with a reputable Australian broker, such as IC Markets or Eightcap. I trade with IC Markets and they ...

UK: able to trade with more than 1:30 leverage?

Just an observation, you are specifying an absolute value (in pips) for TP and SL, ie 20 pips or 100 pips. However, this takes no account of volatility. 10 pips on one day could represent 1% of the market’s daily movement, while on another day it ...

The London Session Stop Hunt | Forex Profitable Strategy

Mistakes I have seen people make: 1) Thinking that an EA or indicator will do all of the work for them. It won’t. 2) Not developing a strategy. So simple and yet so many traders just don’t do it. Instead they fumble around, switching from one ...

What is the one thing people get wrong when trading forex?

I started out in trading purely out of curiosity because I was interested in how financial markets work, and so I had no expectation of profit. I realised early on that big profits are possible, but only if either a)you’re prepared to take big risks ...

Trading Expectations vs Reality

I’ve been trading with FXPro for years, It’s pretty obvious that your display did not update properly, and this has nothing to do with FX Pro. It’s very annoying when an excellent and reliable broker such as FXPro is criticised unfairly.

FxPro wide spreads - you should know it

The best advice I can give is as follows: 1) Don’t overestimate how much use something like Forexfactory is. There are plenty of clueless idiots here who post a LOT. Successful traders (such as my humble self) have nothing to prove, and rarely, if ...

Complete Newbie to Forex

Sorry to say, this rightly belongs in the rookie section. If you’re still not clear about what pairs to trade then my advice is switch to demo. Put simply, you should trade those pairs that you have meticulously backtested your trading strategy on, ...

A simple question difficult to answer with (consistency)

I started trading purely out of curiosity. I often heard about this index rising 30 points, or that currency falling etc. It annoyed me that I didn’t understand it, so I went about looking to see how it all worked. I discovered trading almost as a ...

Why I trade Forex? Hbu?

Yes ATR includes the current period. If I want to use ATR in a strategy, I use the previous day’s. Also, there are several different ways to calculate ATR, some use the simple moving average of the true range (which is the simplest), others use an ...

Using ATR incorrectly during back-testing :(

There are plenty of brokers who offer negative balance protection.

How to avoid losing more money than you put into your account in MT4?

I wouldn't be so sure that brokers care that much about bad publicity. From what I've read, they will chase you down for negative account balances, and will only hold back from issuing bankruptcy proceedings if they think you haven't got any assets ...

Negative account balance recovery process

Personally I would give up if you stop enjoying the process, or can't develop a profitable strategy despite trying everything you can think of. It takes a lot of work and time to develop a profitable strategy, but there's nothing like the moment you ...

At What Point Do You Give Up On Forex

If you take your profit earlier than your strategy rules dictate, then you are no longer trading your strategy. The rules of your strategy (e.g. Take profit at 'x' level) should have been worked out in advance, and most importantly, back-tested ...

Missing profit because I was disciplined near TP

Just because a trader teaches, it does not make them a failed trader. You might think all you need is a profitable trading strategy and that's it. You simply trade your strategy and you're rich, right? Wrong. Successfully monetising a profitable ...

"good traders trade, bad traders teach"

Backtesting as much as possible will help give you confidence in your strategy, and also give you an idea of what profit and drawdown you can expect if you were to trade live. The next step is forward testing. You can use a demo account if you wish, ...

How To Develop Winning Automated Trading Systems

Maybe you didn't know, but I am English, not American, and here in Britain (which, as far as I am aware is still part of the 'English speaking world'), only morons use words like "learnt", and it most certainly is not 'the form normally used'. Maybe ...

(binned per thread starter’s request) What have you learnt since

I have learned (not "learnt") that poor spelling irritates me more than I thought it would. One day, while walking in a field somewhere, I fully expect to come across a whole load of this loose money that everyone keeps talking about. That will be a ...

(binned per thread starter’s request) What have you learnt since