Everyone has to find their own path. Whatever route they take to get there probably doesn't matter. Getting burned is part of the journey, in all but a few cases. Nice of you to be concerned.

help prevent believing in divine methods

Some of the reasons — Once you do find a system that does work, don't forget Axiom 3: url Then the question becomes discipline vs. tweak the system.... Regardless, you have to be quick to react to the market, on many timeframes. By this I ...

Important – Why systems are profitable (or not)

No, while vHands is running you can only choose the number of lots from the selections given. You do this by pulling one into the chart area, from then on that choice will be the number of lots until you choose another. But those choices are fixed ...

VHands Trading Simulator

Or maybe I just forgot Axiom 3. url

The Ultimate Fallacy in Technical Analysis

Yup. And sometimes the trade still loses, that's trading. Use one of your old blown accounts for those "impluse" trades. I've taken an account from 33 up to 47 dollars in the last month or two with trades I didn't want to take on my main account. ...

Are You a Reasonable Trader?

OK, if we're playing poker, say I have $100 bucks and my opponent has $10. I can bet 5 bucks per hand all night. He has to match the same dollar amount to stay in the game. He has to risk half his money on a hand he believes in, or I can take his ...

Are You a Reasonable Trader?

Do you trade part time or full time? Full Time What time frames do you mostly trade on? Look at D1 for trend; trade 4H - 15M When do you wake up? When I'm rested. Most of the time I'm up for Europe. If I need sleep I stay in bed. I will set price ...

What is your trading routine?

Interesting link. The argument for "gambler's ruin" does not apply to forex. It probably does apply to futures, since there is a minimum trade size. The author must not have heard of money management. The article seems to be written from the ...

Are You a Reasonable Trader?

Hi M_MM! I'd like to know how one could possibly have any remote inkling of what they're in for without having experienced it. Also, how many do you think would open the door if they knew what all lurked within? I'm sure I still would have gone ...

Are You a Reasonable Trader?

Good question! If you mean the choices it offers, then the answer is yes. Do the following: In your navigator, in the section for Expert Advisors, find vHandsTrade. Right click on it and choose "modify". Your MetaEditor will open. Now scroll down ...

VHands Trading Simulator

If you're in mt4, opening the data window will tell all values. You still have to point the cursor, but it's easier than setting it on each individual MA line. If you still want the indicator (not EA) then check out learning to program, what you ...

EA to show the price of MA

Closed Candles — OK, rule modification. When consumed by a closed candle conundrum, consult the candlestick connoisseur (Steve Nison). A closed candle is only one type of candlestick pattern. It isn't the only candlestick pattern that can ...

Transition from Losing to Winning

This is off-topic, but it only seems amazing until you tally up the results for a year. If you enter when the high is exceeded, use the low for a stop, and vice-versa. Sometimes you need to go to a lower timeframe to see which gets hit first, the ...

VHands Trading Simulator

I'm too careful, that can be a problem too. Not making any money, lost last week because I followed my rules to the letter. I need to go back and review winning trades and see how many of those were "jump in" instead of waiting for the candle to ...

Transition from Losing to Winning

Thanks, Ian. I think we all deserve success. I don't have a discipline problem, in fact, this month, discipline has been my problem. I stuck to my rules and it has cost me dearly. Seems if you wait for a closed candle, it's too late. All the moves ...

Transition from Losing to Winning

I read BWILC. Tried "letting my losers run" and, guess what? One of them ran, and ran, and ran some more. I soon decided that stops were for me, and bird watching wasn't.

The reason why 95% of new traders consistantly lose money

One chart is from FXDD, one is from XTrader. Mine is from IBFX and doesn't look like either one exactly. I'd guess that the 4 hour candle begins at a different time for each. At IBFX the 4 hr. candles begin at 00:00 GMT, then 04:00, etc.

Are we trading different markets?

It depends. Daily charts can vary, but hourly charts seldom do - the hour begins and ends at the same time everywhere on the planet. Different data providers can have different charts, but you have to use something. It depends on what you mean by ...

The Ultimate Fallacy in Technical Analysis

My post wasn't very clear. When I read it, I hardly know what I meant. As an example, let's say the market settles down to a support level, then we get a long red bar that penetrates support - if it closes below support, this is a bearish signal, ...

The Ultimate Fallacy in Technical Analysis

My post was not very clear. Had I not stuck to my plan, I would have had a very good week. By waiting, I missed many good moves. On the trades I did enter according to plan, only one made a profit, just barely. What you're saying above is that if ...

The Ultimate Fallacy in Technical Analysis