That's what I luuuuuuve about forums. One guy says 2% risk is too much, do 1000 trades backtest or forget it. The other says that if you've made 10 trades and 6 were profitable, then you can risk 33% of your account.

Risk:Reward vs. 2%

BTW, I believe there are any number of emotions that influence trading. serenity enthusiasm cheerfulness conservatism boredom antagonism anger hate fear despair grief self-abasement victim apathy blame regret are a few

control greed!

1. Keep track of every trade, how far did it go in the money (max possible profit)? 2. If the trade had gotten stopped out, how big would the loss have been? 3. Tabulate the data and calculate the average max profit and the average stop loss amount. ...

control greed!

Charlie don't surf, and Murphy don't trade!

Now I know why 95% of traders are on losing side

Well, it is getting much better lately! The trading, that is. Naysayers aside, all I can say is, since you posted this thread and your journal, I've been trading in the green every day. Shouting "eureka" is a little premature, but I can say also ...

Now I know why 95% of traders are on losing side

One more advantage to going for 5... there's enough noise/fakeout/stop hunting around the trendlines, s/r, pivots etc. to give you your profit!!!

iandekoker's 5 profit target trades

Why I hate long term trading — Yes, despite my realization, revelation and edification, I am still trying. In my old Oanda account that's almost blown. Took a short on the cad, one of those "walk away" trades. But, I didn't of course. When I ...

iandekoker's 5 profit target trades

Gee, if trading is that good for you I must not be doing it right!

Now I know why 95% of traders are on losing side

Yes, yes. The market will teach you, all you have to do is listen. And it isn't a whisper, it stomps you into the ground again and again and again indefinitely, Jurassic park style, until you learn your lesson. Keep a journal. Write down when you do ...

Axioms of trading

Wow. Look what I wrote here. url Someday I'll learn to listen to myself. Maybe the barriers aren't that hard to overcome -- but you MUST listen to what the market is telling you. And it isn't a whisper, you're probably getting stomped by the same ...

Mental Barriers

profitplay was right! — Axiom 7: All profitable traders use discretion. There is no system that can be traded strictly mechanically. If it could, that would be the Holy Grail, and it does not exist, so therefore, there is no strictly ...

Axioms of trading

You're agreeing with me, not the pro. If a system could be traded mechanically, then it would, by definition, be "The Holy--" well.... you know. There is no holy grail, therefore there is no profitable strictly mechanical system.

Now I know why 95% of traders are on losing side

This is true for ANY and EVERY system. (Except for the part about mastering it "easy".) NO system can be traded mechanically. Discretion is always used by profitable traders. I had a discussion last week with a professional trader who I'm absolutely ...

Now I know why 95% of traders are on losing side

I've been doing the same thing, I have an OANDA account. It's gone from $500 down to $45 over the last 10 months. Now I'm just using it for long-term trades (no, I haven't quit trying that altogether - either I'll build the account or blow it). I ...

Transition from Losing to Winning

I'm still working the 5M EUR almost entirely. When the indicator arrow comes at, or right after, a long candle, I'm cautious. I always LIKE the second arrow in a trend. I double up on those trades. The green arrow at 8:10 on the 5M EUR was right ...

iandekoker's 5 profit target trades

That sucks. Happened to me several times last week. You know you'll come out ahead in the long run, that's what counts. It might be a good exercise to go back in time on the charts, see how many places you can find that the arrow picks a top or ...

iandekoker's 5 profit target trades

What you said was, "As far as I understand..." so it appeared that you really weren't 100% sure what it was doing. You also didn't tell us that the bar is actually ADX main. It's always best to know absolutely what your indicator is showing you if ...

iandekoker's 5 profit target trades

OK, what this is doing is this, it plots the ADX (main) as a bar. If +DI is above -DI, it's blue, if below, it's red. The normal ADX has much more information, however, if the advanced is working for you, then by all means, use it. Also note that it ...

iandekoker's 5 profit target trades

How do you plot the pivots? Formula and times?

iandekoker's 5 profit target trades

Seems simple. If you would post the Advanced ADX indicator I will run a backtest on it. The only thing easier than this system is having an EA do it for you!

iandekoker's 5 profit target trades