I like the phrase or sentiment that if you set out just to make money you won't. If you set out to trade really well, be flexible, patient and have lots of endurance then money will come as an afterthought. I have found that as soon as I make ...

FF "Rags To Riches" Millionaires!

I agree, as I regularly make 15%+ a month (I do disclaim that I am building an account under $5000) but yes 20% a year and I don't think that you're a very capable trader, or far too cautious (unless you have a million and 20% is plenty..and hey I ...

FF "Rags To Riches" Millionaires!

Yes long for me (but modest position size though).....I rode on the buying spurt last night but took profit off the table and back in for another possible push up tonight....but not hanging around for too long though!

EURUSD

As a trader with a slight interest in psychology we humans can't accept simplicity in relation to money or what we think should be complex. If it is simple, it is common and therefore not legitimate or more accurately, doesn't make us undergo the ...

5 PIPS - Only Five

Well I have to say Chicky was right (and were others) about the EURUSD last night (well I am in Australia and was watching it rock at 11pm or so my time) and yes I made a bit on it! I am not afraid (even though I am a fairly decent trader) why did ...

EURUSD

Hmm how about Kentucky Fried Chicky?? no,,just doesn't have the same ring..I lived in Japan for 3 years and have been married to a Japanese for 16 years...so I have great respect for Asia and interest in its amazing history, language and ...

EURUSD

Personally I only trade bounces and not long term but then miss out on the bigger picture that you captured on your USDJPY run. A man of your skill could easily play long term and the 'fun' short term stuff too!

EURUSD

I would sadly have to agree with what Chicky said here. I consider myself now upper intermediate trader (in that 70% of my last 20 trades have been accurate and done what I had hoped) but money management is something that has made me not move ...

EURUSD

okay cheeky!! But News may not always be precipitated and not like a chart that gives you more time to plan your attack! News can come out of the blue and it is a well known fact that it can blow through technicals such as chart analyis, PAT ...

EURUSD

haha..nice answer! I would agree..a short term upward retrace to major resistance levels (or to suck in traders to a BullTrap) then resumption of the down trend..however may not be so simple as news can trump technicals...! Trade what you see ...

EURUSD

I can categorically claim that timing (or being 'alert' when in profit perhaps) is so so true. My last 4 trades in the last 2 days were very good but shortly after taking profit, the overhead resistance etc. sent it back to where it started! ...

EURUSD

Thanks for that clarification, I tend to think more so no more than a day or 2 ahead! Probably shows a lot about me! I will look into your chart also as I do feel it has upside potential but needs to break through some resistance! Thanks again!

Cable Update (GBPUSD)

Howdy all I am expressing my ignorance I am sure but my chart shows price currently at 1.61406..not sure what you mean by "PRice contained 1.8350"...am I missing something?? LOL... Just so you know I have been trading on and off for 8 years,,only ...

Cable Update (GBPUSD)

Thanks Alohamen..yes hard to explain but some trades just hit you,,,and many times I have ignored this only to see lots of great trades go by so generally I follow my instincts but moderate it with confluence as sometimes I have taken a trade based ...

Being a trader is a way of life

Alohamen, I really liked your post and why not have a way of life (yes I understand that there may be 'dark sides' to trading) but yes definately a connection to one's methodology (although I sometimes take trades that just catch my hunter's ...

Being a trader is a way of life

Well one thing more, I don't do trading for a full time living, so as another trader mentioned that when you have to pay the bills with trading you don't get so romantic about it and I agree! Also I agree if trading starts to define you (such as a ...

Being a trader is a way of life

Firstly you have it backwards, my trading reflects me, my personality and in that sense trading is an extension of myself, not the other way that 'taking other's money' as an external concept that I absorb to who I am..no it is WHO I AM THAT GOES ...

Being a trader is a way of life

I agree with that! Romantic notions get knocked out of you when you depend on it for bills and living. I have been a full time trader 2 times before but severely under capitalized. Out of curiousity how much capital did you 'need' when you started ...

Being a trader is a way of life

Yes thanks! I think we dedicated traders need others for support as things get rough at times! IT is interesting to note that statues of Japanese martial arts teachers or great Zen teachers at times had a very scary face carved on them, not because ...

Being a trader is a way of life