My friend, if you genuinely believe that luck plays a role in sustainable profitability, and cannot be convinced otherwise, then I can only suggest that you give up trading and start buying lotto tickets.. My only real suggestion for you now, is to ...

Some lessons from the real world

A different purpose.. — Hello cyberfx - thank you for your honest feedback. If you read the first post again, and think about the key messages contain therein, you will have the answer to your question. Keep in mind that the purpose of my ...

Some lessons from the real world

Hello Savio Roca - your name reminds me of a very good footbal player who once played with the Collingwood Football Club (Melbourne, AFL) - Sav Rocca.. anyway. I think it is easy to answer this question in saying "it is about psychology and ...

Demo trading vs Live trading

MAX method — Hi fxhermit - when I mentioned "gently adding forex into my exiting method" in my first post in this thread, indeed this is what I am up to. My index futures trading does not aim to exploit 'trends' per se (though can sometimes ...

Some lessons from the real world

Hello alter - thanks for sharing your situation with us. In reality I know very little about you or your situation, or what you are even trading, and with what basic method, so it is not appropriate to even try to "diagnose" what is going on - and ...

Some lessons from the real world

Thanks willf. Very true indeed... correct capitalisation matched to the capability of the method is a must.. of course assuming that the method is robust..

Some lessons from the real world

Thanks. I respect your views on this as being different to mine - all good. But as you mention risks in what I am saying for novice traders, then I should probably take a few moments to elaborate (for them, that is) You will see from my original ...

Some lessons from the real world

Hello 4XWeezal - thanks for your post. All things being equal, I would probably agree with you.. but I don't believe those things are equal; 'technical triggers' in an EA vs understanding and capability of the human brain. You might be right about ...

Some lessons from the real world

Healthy debate sometimes has a purpose, and is something I always welcome - judgements based on a small data set, and associated assumptions, however, have no purpose. (Actually you've just given some inspiration for another post which I might do ...

Some lessons from the real world

Hello again alter - many thanks for your comments - indeed this is a tough and at times frustrating business. I acknowledge what you are saying about hard work on its own not being enough, and from experience I agree with you 100%, (though don't ...

Some lessons from the real world

Hello alter - you point out many hard 'thruths' in your posting. Thank you. I have started up a new thread in the rookie section (less 'noise' over there I think and some practical discussions that focus on the basics which many people seem to ...

METHOD vs SYSTEM and the destructive EA

In search of the elusive "edge" — Final reflection for this week: "If I can just find an 'edge' in my trading, prosperity will come my way.." In my humble opinion, this approach, just like the "I want 10 pips per day" ambition, is ...

Some lessons from the real world

Hi Mr-T - I think I know what you are trying to say, and I commend you with your approach of sustainable trading (the 20+ year plan), as we are on the same wavelength there! I think your analogy of the sniper vs shotgun might raise questions in ...

Id rather have a shot gun than a sniper rifle

Interesting thread - I agree with the overall sentiment though I make a living (as a full time trader) through operating with a sniper rifle rather than a shot gun (maybe it's just a terminology understanding?). I sit with my sniper rifle and ...

Id rather have a shot gun than a sniper rifle

Hi abritton76 - this might sound a bit theoretical, but is actually quite practical: referring back to the original purpose of your thread, my main suggestion is rather than "looking" for the edge, try to focus on developing the right methodology ...

Cant find a substantial edge!

A word of caution to those in this thread who are going to make the "jump" to full time trading. I know a lot of full time retail traders, and none of us (who are still trading) ever went full time with a "jump." It was always done gradually and ...

Are there any full-time traders that are living off the FOREX profits?

Go for choice 1 and if you do that well you can have your cake and eat it too: Learning how to trade without financial pressure is definitely the way to go, and you can gradually make the transition to full time trading if you are successful in a ...

Addicted to forex trading affecting studies and career

Well said, Hanover. Fully agree with your post. It also depends on what you define as a "stop loss", though we are here getting outside the realms of what is going to be relevant to the majority of traders in this forum: For example, on some trades ...

successful trader without stop loss?

I love it - a classic post.. A practical suggestion? As a starting point try studying the various currencies without any indicators at all. You will learn a lot more that way.

Which indicators work best with what currency.

It's all in the outcomes... — "A trader's edge - myth or reality" Let's not complicate things and get all theoretical here - the existance of an "edge" or not, should be defined by the outcomes of your trading methdology. - If a "trader's ...

A trader's edge - myth or reality?