In my mind, these two sentences are contradictory. Fyi, control of behavior, or discipline, or emotions, etc. is assumed to be a base attribute of a trader. Confidence in trading comes from the mind, not the heart. Good luck on your journey.

Trading for a living

Earning money is a process of converting what you know or know how to do into something of value. It should be clear how that process works in a job where you work for someone. In financial assets, if you know a little about something you can invest ...

Trading for a living

Yes, I had 2 loss situations this past week. The first was on Monday in a poorly timed G$ trade, where first entry in this trade lost 21 pips, but the follow up trade resulted in a 21-pip positive trade for a net of zero. The follow-on entry ...

Forex Appears to be a Dying Market for Retail

I am not sure how you define a decent trade, but I had 11 excellent trades this past week for over 250 pips. Keep in mind that August is historically a slow month, so maybe that helps explain your situation. Best wishes and better trading next week.

Forex Appears to be a Dying Market for Retail

The trend on GBP$ has been evident since yesterday (traded in one direction); a trend on the $JPY since this morning (trading both directions). Your statement might be correct for your current trading skills (which you can improve), but it is ...

Why do they say that trends don't work?

Hi Erebus. Trends don't work but traders do. It is the trader's responsibility to interrupt the signals within the market, and trend is a (subjective) market sign. You can make a lot of money if you understand what trends are and how to trade using ...

Why do they say that trends don't work?

I don't want to seem cruel, but by your own statement, you don't know what you are doing. You don't know enough to ask a trading question. I have the following suggestions: 1. withdraw the remaining 60% from your trading account and deposit it in ...

Please help, 40% drawdown

Nice job. I closed mine at 1.2406, and my $Y trades at 154.75. I'm flat until PPI tomorrow. Trade safe.

Cable Update (GBPUSD)

That's one of the trades of the day on the G$, although I'm short at 1.2436 not 40. Also long $Y 154.38 and 154.32. Probably should have been more focused on the GY. Good trading.

Cable Update (GBPUSD)

I traded it down to 187.70, which was my target. Pulling back from there now, with next target 187.10, if it continues heading south. Nice trade.

Cable Update (GBPUSD)

President Trump has been very clear about his trade policy and is already taking actions to level the playing field with our international competitors. As the US re-industrializes, the impact will be for higher interest rates and a slight uptick in ...

Cable Update (GBPUSD)

Check the calendar today: MPC Taylor speaks. He said the current rate in the UK is above neutral, the UK economy is in trouble, and the assumption of the market is UK rates are headed lower, thus, GBP weakness. PA gave some clear signals of the ...

Cable Update (GBPUSD)

Target at 1.2120/15 hit, with next target at 1.2048. My stop at 1.2147 was hit on the pull back. Assessing PA and looking for another sell opportunity. Essentially that same picture on the GBP/JPY.

Cable Update (GBPUSD)

I'm short again at 1.2187, and 1.2157. I have a TP at 1.2120. If the GBP can't find a place to retrace soon, something is very wrong here, but that's ok because I'm short. I'm done for the night. Edit: stop set at 1 2147.

Cable Update (GBPUSD)

I just finished some chart work and have a possible target at 1.2157, which is where I will move my stops to BE upon hitting that price level. Major target remains at 1.2120-15.

Cable Update (GBPUSD)

in this case, demand for UK bonds (as in the need to acquire the GBP currency) is falling, forcing down bond prices and increasing yields. The UK economic risk is rising so fewer people want their debt or their currency.

Cable Update (GBPUSD)

Target at 1.2198 is hit. Next target is 1.2120. I went flat at 1.2212 and am looking for a short to next target. The picture for the GBP/JPY is similar.

Cable Update (GBPUSD)

I closed latest trades on GBP/JPY and GBP/USD, as target at 1.2260 hit. There are some indications that the next target at 1.2198 is reachable. The GBP needs a breather but may have to wait a bit for some square up trading. NFP is the pending risk ...

Cable Update (GBPUSD)

It's always interesting to see people buying when I am selling. I guess that is what makes a market. I have closed all my trades on the GBP/JPY and GBP/USD. Today's PA opens the door for 1.2260 and below. We'll have to see if they will push for that ...

Cable Update (GBPUSD)

Hi BWilliam. Hope you are doing well, and Happy New Year. As for 10 trades, if I were here trading for two or three days, I'd be lucky to place 4 trades, so 10 is over a week's work for me. BTW, I just spent a week in Brisbane and had a great time. ...

(binned per thread starter’s request) Liars and Thieves