This assumes that your entry is essentially random and doesn't have an edge. Otherwise you are suggesting that it is not possible to make money in the market - you are saying it doesn't matter what your risk:reward you will always end up at zero. I ...

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

It is but most brokers open 4PM Sunday NY time and close 5PM Friday NY time. If you want true 24/7 then you will need to use a broker like Oanda who allow you to place trades at anytime. They do however widen their spreads considerably for the ...

Help...with FXCM

FXCM don't have a market on the weekend. At 4PM Sunday NY time they will open and change prices again. Simon

Help...with FXCM

Hiyo, How many people do you think there are who read this board and how many people had a go at you? It is generally accepted that using capitals on the internet is that same as shouting. Why are you shouting at everybody on the board? If you want ...

Good Trading To All -- Part II

Personally, I wouldn't diversify my systems until I had at least $20-40k. Personally, I don't really think that $1500 is enough to start trading unless you are using a broker like Oanda who let you trade whatever size you want (up to $10million). ...

Withdrawal advice

Zazzy, Sorry, I misunderstood what you said above. Your tradesize as a % of your float is largely irrelevant - it is your risk as a % of your float that is relevant. Simon

Position size - Looking for an advice

If you want to lose all of your money, go ahead and risk 40% of your float in a trade. Do this all the time and see how you go. Not sure if it will take 1 month, 2 months, 6 months or a year but you will do it. Simon

Position size - Looking for an advice

ATR is not a trend indicator - it is a measure of volatility. Simon

Trading Systems Help

I have tried to put together many trading systems using heaps of different indicators and have found that most of them don't work. A fast way to lose all your money is to buy/sell moving average crossovers or buy when stoch is overbought and sell ...

Are indicators useful?

It is not just number of observations but also market conditions. Lets say that you were silly enough to make up a system that does well in USD strength and poorly in USD weakness. If you only tested it over the last couple of months then it ...

What do you mean by "Trader's Edge"?

I would suggest that you shouldn't have all of your trading capital in your trading account anyway. Just make sure that you have enough in there such that you don't get margin calls. Lets say you have 100k risk capital that you are using for your ...

Withdrawal advice

It really depends on what type of trading you do. The daily trading that I do takes only 20 minutes per day - if I wanted to I could work full time no problem. I chose to start another business instead. However, if I was trading off 30 minute ...

Any full-time traders?

If you are only starting off with such a small float, then you would need to use a broker like Oanda who will let you trade whatever trade size you want. You might start with 5463 tradesizes (based on your money management and position sizing). When ...

Is initial capital important?

If you are trading a purely mechanical system then IMO you only need to demo it for a couple of days to make sure the logic of it is correct in realtime. No need to demo a mechanical, backtested trading system. Simon

What do you mean by "Trader's Edge"?

It isn't something IN your system that is your edge it IS your system that is your edge. Simon

What do you mean by "Trader's Edge"?

Yep, it is really quite easy. I am assuming that you have a well defined, documented backtested trading system and you are comfortable with the results. You need to place a stop loss on your trading system. When you place a trade, you don't exit ...

Following the system

Your trading edge doesn't need to make money 50% of the time. Tharp is talking about your edge being expectancy - a system with +ve expectancy. You calculate expectancy: %win x ave win - % loss x ave loss This will tell you how much you would expect ...

What do you mean by "Trader's Edge"?

1% of $300 = 1%/100 x $300 = 0.01 x $300 = $3 Simon

5% per day is achievable

Why not just reply to his email and tell him you don't want to recieve them - I am sure he will take you off his list. Simon

Good Trading To All -- Part II

Pips are not relevant because it doesn't tell you how much money you made. If you make 20 pips per week and I make 100 pips per week who makes the most money? You can't tell. What if we both risk 2% of our account in each trade and your stop size ...

5% per day is achievable