Here's a big hint from your own post: If you get a margin call then you didn't have any idea what you were doing in the first place and you didn't use stops. These moves are Darwinian in that they wipe out the undisciplined. It happens a couple ...

BAD November?

Congrats! It seemed like all the stars were aligned for you, I jsut thought it was strange that you were flat after you made such a great case. Well played.

EUR/GBP Trading Room

What would it take to make you go long then? A burning bush?

EUR/GBP Trading Room

Yeah, you can be a golfer if you want. But, you are not competing with people who do that for a living, you are playing against your drinking buddies. The appropriate analogy would be you saying something like "95% of golfers don't make the cut to ...

Response to "Please, 95% of traders don't lose their accounts!"

I get what you are saying. I worked on a trading floor for a couple years and we had risk managers and quants and monthly drawdown limitations and we knew what our individual and group VAR was at all times. I also understand that you were or are a ...

Regarding risk/reward ratio

I agree with everything you said in your post. Trader can also refer to someone who traps furry animals and swaps them for supplies. By definition, when you go to the grocery store to buy eggs you are a trader because you are exchanging currency for ...

Response to "Please, 95% of traders don't lose their accounts!"

You did the most important part - you determined your risk. Don't go guessing what the reward is going to be just to satisfy some arbitrary fraction, but have a reasonable expectation of sufficient profit to maintian your positive expectancy. Don't ...

Regarding risk/reward ratio

Flight simulators are not part of the private pilot training curriculum in the US which is the first step in achieving additional ratings. If you want to become a pilot in the US I would be happy to point you towards the Code of Federal Regulations ...

Response to "Please, 95% of traders don't lose their accounts!"

Warper, you completely missed the point. Over a period of years I taught myself to trade so I certainly am not suggesting that you need a coach to be a trader. That being said, every other job I've had did require several years of training. You are ...

Response to "Please, 95% of traders don't lose their accounts!"

I assume this was said in jest and that you know fact from fiction. Here's a fun fact for the day: coal plants emit more radiation then nuclear power plants.

I see oil reaching 100 USD?!

Since April of this year the USD has dropped 15% while oil rose 41%. So you can't completely blame the USD for the price of oil. Supply and demand has not changed over the near term (long term definitely) so clearly, something else makes oil move. ...

I see oil reaching 100 USD?!

The "average trader" loses his or her accout within a couple months. I don't know how that makes them any smarter than the officials. I love it when a conspiracy theory nut cracks. Good stuff.

Idiots Have Woken Up

Why do you think oil moves inversely to the dollar? Which one is the tail and which is the dog?

I see oil reaching 100 USD?!

Markam, don't get so excited by the thought of a global economic collapse because it isn't going to happen. The best case scenario, albeit painful, would be for high prices to advance the research for alternate power sources such as nuclear, wind, ...

I see oil reaching 100 USD?!

If you're long product you can sell futures against it and lock in your profits. Or buy puts and make a synthetic call.

I see oil reaching 100 USD?!

No worries Scott. We've disagreed before and both lived to tell about it. Regardless, I've always respected and enjoyed your opinions. If I thought everyone would agree with me I wouldn't have made my original comments. If you make pips off of the ...

EUR/GBP Trading Room

I'm not seeing that on the chart. Even if there was a selloff at $70 was it because it hit a meaningless round number or was there a fundamental reason?

I see oil reaching 100 USD?!

Excellent post. I know this takes reseach and a lot of time to write and I appreciate your work. I can't wait to see how it ends.

Developing a trading system that fits your personality

Probably about the same massive selloff we experienced when oil hit 60-70-80-90 and when the EURUSD hit 1.34-1.35-1.36-1.37-1.38-1.39-1.40-1.41-1.42-1.43-1.44-1.45-1.46. There wasn't one.

I see oil reaching 100 USD?!

I don't see the point of making trading harder than it already is by chasing a pair that rarely moves. This pair has a daily range of 35 pips. This summer it has a range of 25 pips per day! It also has one of the widest spreads of any pair. The fact ...

EUR/GBP Trading Room