Zazzy, That is what my initial thoughts were too. However, you wouldn't end up in that position because after x number of trades MM1 might have $6000 left but MM2 might have $2000 because of the differences. And since you risk is twice as much you ...

Two diff MM same result?

Aahhh Dialist, you have introduced a different variable - % drawdown. This wasn't in the original posting. He simply said he was willing to lose $5,000 - nothing about drawdown. I agree that % drawdown in the second and third cases is going to be ...

Two diff MM same result?

Lets do a quick calculation. Float: $10,000 Risk: 2% Risk$: $200 Stop size: 20 pips Positionsize := $200/0.002 = $100,000. This is 1 standard contract or 10 minis. Simon

Discussing MM

Sorry Dialist but this is not actually correct. You won't lose your money twice as fast - you will lose it at the same rate!! If I risk 2% of $10,000 then I will lost $200/trade. If I risk 4% of $5,000 then I will lose $200/trade. It then takes me ...

Two diff MM same result?

Oanda have the info on their website going back about 4 years for most currencies - the bid and ask interest rates and then you can work out the interest paid/recieved for each currency pair. Simon

Interest rates for all the currencies

Thanks Dial. The point I was trying to make is that get kicked in the teeth by the market is not a requirement for success. As you have said, the majority won't learn to trade without getting kicked but the majority won't learn to trade anyway. You ...

how likely?

Depends what your focus is on. If your focus in on making money and you find a good signal provider (very difficult to do) that provides the signals in a useable way and a style of trading that you are comfortable with, then there is no reason not ...

Does good traders buy signals?

I agree, they are subjective terms. Simon

how likely?

I have read both books and I think they are great. One of the things about most of the traders in those books is that they started in the 70s/80s and they were largely self taught. Someone want to learn to trade today can take a course that will ...

how likely?

I am not sure why people are of the opinion that you need to be smashed up by the market to be successful. I don't know of any successfuly traders who have been smashed by the market, lost a float or anything, prior to them being successful. It is ...

how likely?

You will need to take that down - what about Refco? Simon

how likely?

earlierdays, If you weren't going to take any notice of the answer to your question, then don't bother asking it in the first place. I don't agree with all diallist has said, but it certainly aint as easy as you think it is. Prove it to yourself. ...

how likely?

At no point did I say that their degrees has anything to do with their trading success. I merely made the point that most of the people that I know who are successfuly traders have degrees and most of the people who have posted on this thread have a ...

Graduates vs non-grads in trading

GoatT, What stop sizes are you normally using? They wouldn't want to be much larger than 40-50 pips. You are losing $2.50/pip so at 40 pips you would lose $100 which is 2% of your capital. Simon

Is initial capital important?

I am work with a bunch of guys in system development who have degrees. Some of them are working towards funds management. I also know some guys who have discretionary trading models. One guy has been trading FX for around 3 years and is a ...

Graduates vs non-grads in trading

Hmm. Interesting to see that we have a thread here where most of the people have said 'I have a degree and it doesn't make any difference'? Then why do most of the people seem to have degrees? Also interesting to note that most of the successful ...

Graduates vs non-grads in trading

If you make 2000 pips per year and your stop size is on average say 100 pips and you risk 2% per trade then that means your return would be 40% for the year. If you only had to spend 30 minutes per day achieving this result then it looks pretty good ...

shortterm vs longterm trading

Perhaps I didn't explain myself very well. From memory the stop-loss size for the JPY trade was around 250 pips. I only risked 2.5% in the trade which resulted in an appropriate position size. If my stop size was only 125 pips then my position size ...

shortterm vs longterm trading

I don't agree with this. I trade a daily system and have been long the USD/JPY since 17/10 from 113.92 and have around 500 pips of open profit. My risk per trade is 2.5% with this particular system. You could trade it with $1,000 or $1,000,000 as ...

shortterm vs longterm trading

The stock market has an upward bias to it whereas the FX market doesn't. It is much more difficult to make a short selling system on the stock market because of this upward bias - you don't have the same difficulty on the FX market. I am not ...

Forex as a system... Who benefits? What internal rules exist in FX?