@ AlastorFate: Sometimes it is better to listen than to talk. Listening requires less effort too.

Popular Trading Tips: Truths or Myths

Silly, is it? Not everyone is trading 100 bucks accounts. Would you really feel OK being 50K in the red on a 100K account? Afterall there's still room for taking more losses, right? Can you ever know with certainty that your profitable system is not ...

Popular Trading Tips: Truths or Myths

100% agree with PipTrapper! Turn your BS filter on. That's not news. That's a commercial add. Really sad...

so you got rich, what now?

Thanks for your clarification. Agreed. What about Myth #2 regarding MM. What do you think?

Popular Trading Tips: Truths or Myths

Not sure what you mean. Do you mean agreement, that entries and exits both have the same importance, or that one is more important than the other?

Popular Trading Tips: Truths or Myths

I don't think that's what Numbnuts was saying at all. Also, you may find of benefit reading Myths #2 and #4 from Hanover's post above.

Popular Trading Tips: Truths or Myths

Here's a classic post by Hanover debunking a wide range of Forex myths:

Popular Trading Tips: Truths or Myths

Excellent post PipMeUP +1 to "To me a good entry is an entry which maximizes my expectancy and limits my DD." That's the stuff beautiful smooth ascending equity curves are made of.

What is a good entry?

Well, speaking frankly, labeling someone as dumb (or other bad name) isn't exactly the most assertive thing to do.

We were fools to believe candlesticks can predict

I do agree that Rtm's post is confusing, even seems contradictory, but Hanover's may have a point here (I also get the clear impression that Rtm is using prediction as in with 100% certainty, rather than prediction as a probability % of outcome x). ...

We were fools to believe candlesticks can predict

I see such consistent high gain % as a possibility, but a very improbable one. I think trying to impose such a difficult goal on one-self (or the market), long-term would be an invitation to disaster for most people.

What do you think about 300-500% annual profit?

IMHO, candles alone don't give away much information one can use. All they do is pinpoint a possible point of interest on the chart. Contextual elements, like their location on the chart (eg, at supply/demand/no man's land; in ...

We were fools to believe candlesticks can predict

I agree with your conclusion that the majority necessarily have to be losers, especially retail. What I don't agree with is that ALL retailers necessarily have to be losers. I have a theory on why financial markets work this way too. For starters, ...

so you got rich, what now?

Very well said. Btw, the number deltatrade arrived at seems about right. 300% to 500% yearly return should be possible by compounding from 12.3 to 16.2% monthly return (14.25% avg).

What do you think about 300-500% annual profit?

That's a even worse scenario than the lottery. You are right though, the financial markets are like a big casino, for the unprepared.

so you got rich, what now?

That's right. Nobody said trading is for everyone. Or that it should necessarily be easy, if I may add.

so you got rich, what now?

By Odin's beard and all the gods... you have this unshakable fixation that the markets move 100% random. That's plain and simple, false. Markets are not like the lottery. In the market there are things one can control that improve the odds. My 2 ...

so you got rich, what now?

You've just called me a liar, and that hurts my feelings Skepticism is good. Denial not good. Again, watch for the unproductive attitude. The possibility of an edge in forex is real. Actually, there is more than one edge working in forex, ...

so you got rich, what now?

It's not the edge. They use different edges. There's more than one way to take money from the market. Do you see what it is that they have in common now?

so you got rich, what now?

Mingary, you need to balance your attitude. Otherwise, it will get you nowhere. It is possible, although improbable, for retail traders to make a living from forex. I know for a fact there are a few. Now, can you tell what do these select few ...

so you got rich, what now?