Thanks for your reply tdion, Are you sure you have back-tested exactly the same system I'm using and not a 'normal' Donchian breakout? What I mean is everytime the breakout makes a higher high or lower low do you add another position? Even when ...

How do you gain, and measure, your trading system's statistical edge?

Not really, no. I'd like to point out again that the tests for the edges I mentioned above are not intended, by themselves, to form a complete trading system. The tests were there simply to prove or disprove the existence of statistically ...

How do you gain, and measure, your trading system's statistical edge?

If the EUR/USD is at, say 1.3500, then a win of 7974 pips is about 59% of the account and a loss of 2864 pips is a loss of about 21% pips with 1:1 leverage.

How do you gain, and measure, your trading system's statistical edge?

Agree. An edge is a reality, I can prove it. Details and proof on this thread url

A trader's edge - myth or reality?

Thanks for all the replies. This is not a complete trading system, rather it is a method I'm using to quantify the edge of entries and exits. To be successful in a zero sum game like the Forex market you must have an edge substantial enough to ...

How do you gain, and measure, your trading system's statistical edge?

The best article I ever read about edges was actually a few simple pages in a book called Way of the Turtle. You can prove an edge exists with a system's entry by looking at the number of pips the market has moved against and in favour of your ...

A trader's edge - myth or reality?

Thanks blacksun. I didn't mention being patient as one of the things I had to learn but now that I think back it was defintely a problem. The first time I blew an account was after a losing trade I felt I just HAD to have another trade on RIGHT NOW ...

The most important lesson’s I’ve learned trading Forex, so far...

A solid system that suits your goals and personality is the most important thing, but you need to develop and thoroughly test the system yourself in order to get the confidence to consistently follow it through winning and losing periods.

What is most important in trading?

As promised here you are I pick a time period, usually around 4 - 6 months, and once the price starts closing lower than it has ever closed within this time period I start adding shorts. I prefer to use this on the EUR/USD as it tends to trend ...

The most important lesson’s I’ve learned trading Forex, so far...

In the UK it's capital gains tax, unless you go though something like a spread betting company in which case it's tax free and doesn't need declared.

What kind of tax income is FX?

Thanks dr_zeus, Sounds like you've come to pretty much the same conclusions as me then. Thing is, those ideas were nothing like the ideas I had when I first started out. I had totally unrealistic expectations, partly due to my own wishes and greed, ...

The most important lesson’s I’ve learned trading Forex, so far...

Hello Aediaz, Thanks for your input. Did you get a mentor? If so, who are they? Was it someone who offers their services for a fee, or someone you knew in 'real life'? I haven't found a mentor yet, but I think that if I had it wouldn't have taken me ...

The most important lesson’s I’ve learned trading Forex, so far...

Hi there, I still work to waterloo, at the moment I'm working as an SAP Business Analyst in the Oil & Gas Industry in the North of Scotland. I believe you can work full time and trade as trading with a long term time frame means you only have to ...

The most important lesson’s I’ve learned trading Forex, so far...

To long. Even when I gave up on having a ridiculous target like 3% a day or whatever I'd just go and aim for another ridiculous target, and lose again. It's a flaw in almost all of humanity, we believe what we want to believe rather than what the ...

How long to be profitable?

I guess I keep saying that because it's the only thing that works for me. If you can make money countertrend trading, more power to you my friend. But I can't do it. And I will only recommend what works for me because I can't honestly recommend ...

Is it good use high or low leverage as a beginner?

Forex is essentially a zero sum game with a cost (the spread) making it a negative sum game. It's not stealing though, more like speculating/gambling amongst consenting parties. No point pretending it's something it's not.

Yes correctly learning it

When I just started trading I had ideas about making 2% per day and using very high leverage to do it. The result was I just lost all the money I deposited, then I topped up the account with some more money, and lost that too. This went on for a ...

Is it good use high or low leverage as a beginner?

When do you imagine 'the second wave of crisis' will happen and why do you think it's due? Can you tell us more about your thoughts on this please?

Sweet, sweet Oil