There are a many different ways to choose an exit depending on the trading philosophy you have. The method I use is to exit at a pre-set target where I intend to encounter problems for further price advances, or even where I intend to reverse my ...

Are exits just guesswork?

To the contrary, I would actually be inclined to believe that a very significant percentage of the trading population is addicted to gambling. A shameless plug for all of you who feel that you can't stop trading....maybe you should take a look at ...

After entering this world of Forex are you able to get out of it?

What a surprise. Love your avatar by the way!

At What Point Do You Give Up On Forex

Thanks for your reply...things are a bit different in the US with regards to smaller banks trading but I've known a couple of people on this forum who did go on to work for a prop firm and did quite well, so I was curious as to how you managed to ...

At What Point Do You Give Up On Forex

Did you want to contribute to this thread or are you just here to troll? As an "actor" by profession I bet your trading profits are through the roof.

At What Point Do You Give Up On Forex

I already know what my edge is, I simply have to learn to use it correctly. But are you really going to blame people for asking what is possible when getting to this point requires such an investment of time and effort? Hardly - so stop being such a ...

At What Point Do You Give Up On Forex

I think that's what a lot of people want to hear as well - that with dedication and real effort you can succeed in this business without already being part of the elite. How did you become involved with the local bank internship? Did you simply go ...

At What Point Do You Give Up On Forex

My apologies, I have a strong tendency to edit my posts after the fact as well (always have wondered why FF doesn't have a 'preview' feature). I say this with respect, but I believe you are very much in a position of privilege. Even if we did have ...

At What Point Do You Give Up On Forex

I disagree. My personal view is that mechanical trading is a waste of time. If you can't trade manually with any success, what makes you think you can extract money from the markets mechanically without falling victim to the law of averages? ...

Mechanical Trading - Is it possible?

To be fair, that was only for a certain quarter I believe. The percentage of consistently profitable traders is much lower by the end of the year. I don't think there's a conspiracy by the banks to get rid of retail traders...the fact is that most ...

At What Point Do You Give Up On Forex

I think you should take a look at supply and demand. Kenneth Lee has a thread on this forum that is quite helpful, and I think it would make a lot of sense to you and improve your trading. Fits right in with what you're already doing.

Support, Resistance etc

Excellent post and something I wish every new trader would read. Not the most inspirational post, but definitely honest. I've been at this for around two years now and quite frankly it has consumed my mind for the majority of that time. I wake ...

At What Point Do You Give Up On Forex

I'm not familiar with that indicator but I haven't used one in a long time either. After writing a price pivot program in C (Kenneth Lee calls them "swap levels") I discovered very quickly that it is difficult to program a computer to see what you ...

At What Point Do You Give Up On Forex

Congratulations on your returns for the year - these are the types of returns that are meaningful and I believe realistic for smaller accounts. Have you discovered anything through this journal with regards to support and resistance and why it forms?

Support, Resistance etc

The first question that pops to mind here is how do you actually 'trade' news and rumors? How are you going to control your risk and define your targets?

Fundamentals and Rumours

"Can" send your positions going into a tailspin - that's why we control our exposure to the market if something isn't going as we expected it to. One of the things you're doing is making all of this way too complicated...take the weight of the world ...

At What Point Do You Give Up On Forex

Completely agree. Nothing better to get me thinking clear and logically.

Trading and Visualization

One thing I notice in some of the posts on this page is a common element of the "markets changing". Abstract elements like trend and sentiment change at the blow of the wind....the primitives never change though. If you were using an MA cross and ...

At What Point Do You Give Up On Forex

Just take a page from my book and understand that none of them are going to give you a real edge....maybe a temporary fluke but you'll give your profit back before you know what hit you. Price action is definitely a step in the right direction ...

What was it like when you started? Don't know what's gone wrong!!

His post was sarcastic humor aimed at the OP.

Watching currency movement day to day