Old proverb: Give a man a watch, he knows the time. Give a man 2, he never knows for sure. Knowledge can be good, but in trading it's less important than your ability to act appropriately. Some cats instinctually chase their tails. You missed my ...

Does going to an Ivy League help you become a good trader

I wouldn't assume that. 1. I don't think he/she will know more. 2. I don't think knowing more always translates into a lead. Or even often. With the exception of technical degrees. A guy with a doctorate in math from MIT is going to be better ...

Does going to an Ivy League help you become a good trader

Sometimes tho it does. When the recession hit in the 80s a lot of volatility and risk models were shot to hell. Stochastic models have serious drawbacks that can't be fully understood without practical experience. Of course. The problem is one of ...

Does going to an Ivy League help you become a good trader

The crux of trading. And the reason why known patterns and reading sentiment are important. The problem with price probes is that there's often some small rejection, but that doesn't hold. Whipsaw. That's information too tho, telling us exactly what ...

CBOT Market Profile

When trading the GBPUSD you have to pay close attention to the EURUSD. Oftentimes the cable is just following the dollar, which is easier read thru the EURUSD. On top of that, look for "failure to follow-thru" at various points in the chart. You may ...

CBOT Market Profile

From my experience this is only true of technical programs. It is not true of general study, business or even law. Trading is a lesson in patience. Schools cannot teach that.

Does going to an Ivy League help you become a good trader

Nod. But don't multiply it by point.

Show pip value in MT4? Show pair in an enlarged window?

IRAs aren't really designed for trading, they're more for long term investing. If you have strategies for that, then by all means use them. But trying shorter term trading strategies in an IRA will only end up frustrating you.

I need an online stock brokerage - for my IRA

One of the things covered is a "selling tail" and a "buying tail." These work better in currencies than the TPO count. Basically you wait for sharp rejection to come in at the current day's high or low, and it forms a little tail, and you trade that ...

CBOT Market Profile

Markets & Market Logic is fairly expensive. There are other books by Steidlmayer that have the same info: url

CBOT Market Profile

Let's say I want to buy a billion dollars in a currency. Well, who am I going to buy that from? Sellers, right? Well it's doubtful that anyone with that level of action will be selling at the exact time I want to buy, so I can either buy and raise ...

CBOT Market Profile

It's all about understanding supply and demand. In a non-trend day the PoC and value area balance will naturally occur where the most trades occur, which is what both sides consider to be a fair price (or they wouldn't be buying and selling there, ...

CBOT Market Profile

The NFA doesn't say you can't take opposite trades, it just says that brokers have to use a particular accounting method to insure there's a single net position for each pair. Ie: You can't have an active long and an active short, but if you're long ...

Proposal to phase out Hedging

Not just. Oanda takes opposing market orders and pairs them off into the net position. This means you could actually put a sell limit order above your current long (for instance) and use that as a take profit order if you wanted. Every new trade you ...

Proposal to phase out Hedging

Nod. With Oanda they'll automatically pair things off. So if you've got 100k long and take a 200k short, you'll get the net 100k short if/when the trade is actually taken.

Proposal to phase out Hedging

Really? The "no hedge" thing is applied to stop entries too? Why not just OCO the other stop entry? That's kindof messed up, I like stop straddles. I mean sure you can write an EA to get a similar effect, but market orders are bigger w/ the slippage.

Proposal to phase out Hedging

Nod. You can certainly use yesterday's high and low as a filter if you want. Altho some of the best moves (and best positions) will occur against that filter. For instance failure above yesterday's high to advance further usually ends up with a ...

Noise preventing profitablity altogether?

It is. Which is why people that rely on floating losses could find themselves hosed at any moment. Altho many financial institutions are actually in trouble because of MtM. That doesn't really explain it. I mean there's 2 sides to every strategy, ...

Proposal to phase out Hedging

Conspiracy theories and speculation aside, this new "rule" carries the rationale of protecting new traders against themselves. An impossible challenge. I've seen brokers that do that, but I've also had brokers that don't. I'm not sure we can say ...

Proposal to phase out Hedging

LOL.

Interbank FX. The most reliable MT4 broker around?