If you don't have an edge, manage your trades all you want. After commisions, slippage and swap is factored in, you will be a net loser. What is an edge? A greater than 50% probability of something happening. Cheers!

What I learned after losing $300,000 trading forex

So much amateurs in this website taking themselves for something bigger. To win in trading I keep saying this, " you need an edge". period !

What I learned after losing $300,000 trading forex

Many ungrounded advice, I have never seen anyone back it up with a trade explorer.

What I learned after losing $300,000 trading forex

It's useless information. I can have a 5 : 1 risk reward ratio and be right 80%+ of the times and that will still be random. The hit rate is not important without the risk to reward ratio.

What I learned after losing $300,000 trading forex

While we are there, the market hits a new high or new low 95% of the days. I m giving you information, lol. The market also hits new highs or low 95% of the times on random data.

What I learned after losing $300,000 trading forex

Information must be by definition valuable. Me drawing some random lines and telling you it will be hit 76% of the times, you call that information!

What I learned after losing $300,000 trading forex

This doesn't tell you anything, where do you put your stop. What is the risk reward of these situations. The market can take your stop 50% of those 76% of times before you are proven right. I don't even care if it hits those levels 99% of the time. ...

What I learned after losing $300,000 trading forex

A good strategy will not underperform for too long. Known Strategies underperform for too long, enough for commissions to clean you up.

What I learned after losing $300,000 trading forex

I hear people talking about taking guesses and controlling losses, etc. others say money management or trade management. Unless you have an edge, you will lose everything to commissions and slippage. The market is like a casino(broker) to you. They ...

What I learned after losing $300,000 trading forex

Thats the problem with young traders. I belonged to that category some time ago. The endless pursuit of the holy grail. The edges are not as big as you might believe. That is exactly why real charts and randomly generated charts look alike. The ...

What I learned after losing $300,000 trading forex

If your edge doesn't work on different timeframes. It is not robust.

What I learned after losing $300,000 trading forex

Markets are closer to efficiency than most traders believe. I think an edge of 80/20 is not realistic in a competitive market. If such edges exist, alot of people will find it. Thereby reducing the edge ,as more and more people exploit it. The ...

What I learned after losing $300,000 trading forex

My edge is 60/40 in my favor. I have found a pattern in all the random data. Which have been tested on different timeframes, different currency pairs, both In and out of sample. I tested it for 3 years (out of sample) after doing the back testing. ...

What I learned after losing $300,000 trading forex

You need an edge before all, but there are some people that have edge and still have problems relating to losing from early trading experience. If you have been consistently losing for the last 5 years and you finally have a method with edge. It ...

What I learned after losing $300,000 trading forex

manipulated by who? I can't stand this kind of stuff. drives me crazy!!!

What I learned after losing $300,000 trading forex

He said maekets were random 85% of the time, not that markets are random. Read well before you post please .

What I learned after losing $300,000 trading forex

Trade high risk on a small side account, and its just a matter of time before you carry that behavior to the bigger account. Especially if it works and you get in that euphoric state of mind. You might think now you wouldn't, but trust me; you will. ...

High Risk Strategy

Short

EURUSD only

Ranges like that mostly end badly ,lol.

EURUSD only

We could see an increase in volatility on the downside.

EURUSD only