You are asking the wrong questions. The real question is : what is the average monthly return on investment (ROI) of my trading system, period. And more importantly, what is the maximum drawdown of my system. Knowing these two variables will allow ...

How do I make millions trading Forex?

Yes, and the best trading systems (mechanical or discretionary) rarely exceed 5% profit per month on average. Good point, finding trading systems with very very small drawdowns is like finding a goldmine. A very small drawdown allows the trader to ...

How do I make millions trading Forex?

Making 1% a day seems like a reasonable and realistic goal but it is STILL a fantasy. If you could make 1% a day then in 5 years you would be richer than Bill Gates and sitting on $77,002,912,750, starting with only $1,000.

How do I make millions trading Forex?

Believing just for one second that it is possible to consistently make 80% a month playing the Forex market is like believing in Santa Claus! If you can make 80% a month you can turn a mere $1,000 into over a BILLION dollars in 2 years. Mavricos, a ...

How do I make millions trading Forex?

Nice song/video Kaspopsicle. By the way, the scenes shown are from the famous movie "Before Sunrise" (and its superb sequel "Before Sunset", shot in beautiful Paris, France, almost in real time), with the lovely Julie Delpy and Ethan Hawke : video

What kind of music you hear while you trade?

You don't need 73 correct trades, far from it, 2 or 3 good trades and you could make a million playing the forex, see my post above. A Canadian forex trader of mine made over 1.3 million during the extremely volatile 2008-2009 market, when a few ...

How do I make millions trading Forex?

Thanks Puppypippy, that last video is hilarious Here are a couple of videos you might enjoy as well. Take care of that cold and cheers mate video video PS: look for the 1 2 3 pattern on the 4h charts, they are much more powerful and ...

SECRET Trading System

Well done Puppypippy. At that means the next round of Foster's is on you!

SECRET Trading System

Yes that happens quite frequently, our system gives another signal while our first trade is still in progress. In that case I ignore the second signal and stick with the original signal. Australia eh? Well say hello to that crazy Mick Dundee for me ...

SECRET Trading System

Is it possible to make millions trading forex in less than a year, you say? Yes, but you need to be extremely lucky and gutsy! Let me explain... Let's say you have $3,000 starting capital and you short 3 standard lots (100K) of EUR/USD. Your broker ...

How do I make millions trading Forex?

Just curious, would you have bought after the break of the first 2 ? The second one? Where would you have put your stops? Note that in both cases we also have a break of the down trend lines, which is another confirming signal you seem to be looking ...

SECRET Trading System

In general, aiming for a very small profit (for example 1 pip) is almost always a losing proposition in the long run! Let's say we have a 3 pip spread and your stop loss is 7 pips. A small 4 pip move against your position will stop you out and you ...

Google Trading

Well look at the 1 2 3 pattern below for example (it is happening right now on the EUR/USD), can you identify point 2 and point 3 without a doubt? You see, we the traders need to define these points objectively (using point and figure to speed up ...

SECRET Trading System

Testing chart patterns — The only way to backtest chart patterns (rectangle, triangle, 1 2 3 formation, etc..) is to use the old point and figure chart system. In the case of the 1 2 3 pattern, the trader only needs to define (and experiment ...

SECRET Trading System

Exactly. In fact a winning trader is simply a trader who knows how to profit from the emotions of other less disciplined traders, that's why the 1 2 3 pattern seems to be working fine most of the time. Well take care for now folks, time for a cold ...

SECRET Trading System

Indeed Puppypippy! For example if after 2000 historical backtest trades a system shows a 5000 pip loss there is NO way on earth that this losing system will start winning live, people who maintain the contrary are either charlatans or they belong to ...

SECRET Trading System

Each trader has his own trading style of course. Personally I like to see 1000 or 2000 profitable backtested trades before I even consider trading a system, no matter how wonderful the system seems at first glance.

SECRET Trading System

Well that is precisely what we are trying to find out. Excellent point, waiting patiently for a confirmation of a signal is what separates winning traders from losers. Yes and no, which would you prefer: 5000 backtested historical trades that show a ...

SECRET Trading System

Yes, but remember that you could be betting against a commercial hedger (like BMW or Boeing) who does not care at all if he is losing or winning in the forex market, he just wants to protect his commercial profits from currency devaluation via his ...

SECRET Trading System

Ha ha ha ha, I knew you would say something like this, good point For backtesting purposes and like you suggested, we could simply define a downtrend like this : If the price is below its 20 and 100 moving average then it is a downtrend, simple ...

SECRET Trading System