Bob, these are excellent "textbook" points, and highlight the extent to which traders will go to, just to avoid losses. As I pointed out, "hedging" and stoplosses effectively achieve the same thing – offsetting an open position – but they have a ...

The reason why 95% of new traders consistantly lose money

Let's try to cut to the heart of what's being said here...... — It doesn’t matter whether we hedge, take profits or use stoplosses. All order types simply add to, or subtract from, our net position. Think about it. If I enter long 1 lot when ...

The reason why 95% of new traders consistantly lose money

Hi Bob, As you point out, the key is to get as close as possible to eliminating the death trade. If it were (hypothetically) possible to eliminate its possibility altogether, then you’d have the perfect forex system. Anyway, if you're willing to ...

Is This My Holy Grail EA :D

Bob, many thanks for your very detailed explanation. If I understand correctly, you’ve allowed enough leeway in your account to allow losses (and hence doubling up) to level 12, which can only happen whenever the Euro moves more than 180 pips in a ...

Is This My Holy Grail EA :D

Bob, many thanks for sharing your ideas. Let's make sure that I understand correctly. You're saying that: (1) apart from the situation where there's a big news story, it's inevitable that price will eventually retrace to a mean; and (2) your testing ...

Is This My Holy Grail EA :D

Nice post, Ubeee, I particularly agree with the parts I've selected above. I probably spend far too much time replying to forum posts myself! And many thanks for the link to Dr Steenbarger's article - it makes a lot of sense to me (especially "The ...

Why do 99% of the people who wants to be traders fail?

Warren, I've no doubt that you're successful, and I congratulate you. However, there are those who claim to be consistently profitable, using purely technical methods. Once a trader has found his own winning method, I guess it stands to reason that ...

Why do 99% of the people who wants to be traders fail?

Bob, if the top traders say that, at the time of entry, they can't be 100% sure which trades will be winners, what makes you so confident? You may be right, of course, I'm just curious to know how you can be certain. If you're 100% certain upon ...

Is This My Holy Grail EA :D

PipStar, if forex is rigged, then I believe that this is great cause for optimism. The key is to find out as much as we can about how the manipulators trade, and place our entries and exits at or around the same points that they do. A random game ...

The reason why 95% of new traders consistantly lose money

FXTitan, I don’t understand the benefit of hedging, along the lines of the reasons discussed here: url Having a long and a short trade open simultaneously on the same pair yields a zero result, except that we have to pay the spread. To win using ...

The reason why 95% of new traders consistantly lose money

Linus, I’m apparently nowhere near as successful as you are, but I’ll offer my opinion anyway. Both newcomers and mechanical traders tend to prefer indicators because they give unambiguous signals, making disciplined entries easier. Being easy to ...

how to use macd

Spot on, IMHO, Bill. Everything else being equal, a wider TP (relative to SL) means good RR (win size), but low win rate. A wider SL vice versa. There's a widely held belief that cutting losses quickly and letting profits run is enough to give one a ...

Coin-Toss Trading Strategy

Ronald, many thanks for the link. Re the coin toss, I'm not quite sure what you mean. The probability of tossing a head is always 50%, even if the previous toss was a head also. The probability of tossing two successive heads is 25%. The probability ...

Coin-Toss Trading Strategy

This is 100% correct. Adjustment in bet (position) size can only be justified in an event where expectancy can be shown to likewise greater. (That is how the Blackjack pros in the 1970s/80s beat the casinos: placing larger bets when the card count ...

Coin-Toss Trading Strategy

Damon, there are three ways that I know of to decrease risk: 1) More accurate entries and exits. 2) Decrease position size (but this decreases return in like proportion). 3) Trading uncorrelated simultaneous positions (a general principle, whose ...

Coin-Toss Trading Strategy

The coin toss entry and MM (bet sizing, scaling in/out etc) topics have been done to death elsewhere. For example, my thoughts on MM here: http://www.forexfactory.com/showthread.php?p=1535129 IMHO, the most informative thread on MM on the entire ...

Coin-Toss Trading Strategy

Arctic, this has been discussed many times before on this forum. See http://www.forexfactory.com/showthread.php?p=1492382 Dr Van Tharp is a psychologist and author. He is not a trader. I wonder how many of the 1KT traders here use a coin toss entry ...

Why trading system don't work

Merlin, magnificent post! Echoes my view: MM operates independently from expectancy. It's always comforting to find a kindred spirit. David

A Dream Scheme... (Don't waste your time)

Lilydat, by saying "it's just straight-up gambling", you're obviously fully aware of the nature, and implications of your method. There's a table in this post: url that gives the probability of encountering a losing streak ("X" losses) within a 50 ...

A Dream Scheme... (Don't waste your time)