Well, welcome. Good to have you aboard. Not to take the wind out of your sails, but if you're just starting out you might wanna start off with some more attainable goals in the beggining. Although all of us want to make buttloads of money, few do. ...

And yet another newbie

I think that you shouldn't be focusing too much on the risk reward ratio, and study your system more to see what the best profit target would be to get consistent winning trades. (it might be 3:1 ) Backtest & forward test and see what you come up ...

Problem with Risk:Reward

Well it's hard to answer this question without knowing anything about the system you use. But I think you answered your own question. If you must meet the 2:1 risk reward ratio and you can't tighten your stops, then you must increase you profit ...

Problem with Risk:Reward

No problemo.

james16 Chart Thread

Hey Dado, I think you might have posted this question in the wrong thread. Merlin doesn't come around here much and this is a thread for James16 Price Action discussion. You might want to post this question in the Q&A forum. Tom

james16 Chart Thread

haha! That's a great line.

Profitable consistency.

I think Kihl gave the best suggestion. Open a Micro account where it's $0.10 a pip. Go with that for a few more months and re-evaluate everything at that time. Unless you're very new to trading, demo trading for too long won't do much good in the ...

Profitable consistency.

No prob Bob. And I only posted a couple of charts to compare it to Tiki's chart. You can probably get a whole bunch of charts with different timezones and every single one would look a little different (sometimes a lot different ) Tom

james16 Chart Thread

Yes, your chart definitely shows a pin bar. But it all depends on the Broker/feed of the charting program you use. Each Broker uses a different timezone for their charts. For example, IBFX uses GMT. So their 4H candles close at 0:00, 4:00, 8:00 etc. ...

james16 Chart Thread

I feel you on that trade, GT. Here's another great point made about trading with a bigger position size than you should. Not only can you lose big because a trade that looked extra good turned bad, but it affects you psychologically while managing ...

james16 Chart Thread

Hey Madog, The way I would treat this DBL is as an area of support. I don't think you can make a trade out of it at this point based only on the DBL. If broken, then it can be treated as a trend continuation signal but (in my opinion) still not a ...

james16 Chart Thread

pffff..... Here comes Mike again with his "logic", to rain on the parade. LOL! just kidding Mike. This is a very important point. I think it's very dangerous to change your established risk parameters when an apparent A trade comes up. Cuz ...

james16 Chart Thread

I'm not exactly sure how to answer your question but I'll give you my thoughts. I wouldn't say that you're at a detriment because you have smaller account. Obviously you'd be making more money per trade with a larger account, but that's assuming ...

A question about leverage

I think what Seeking meant is that After you learn the basics and find a system to work with that you're confident works, then try not listen to many people's opinions, analysts predictions, and jumping from system to system. Obviously if you're ...

forex fundamentals are way too vast

A bravo to all who held their USD/JPY positions. The 2 entries I saw for this was the Daily IB break as well as a 4H Buy Pin that formed yesterday at 8:00GMT (on my charts at least). The break of either would have got you in at more or less the same ...

james16 Chart Thread

I'm definitely yearning for action. On the USDCAD that is. (but I wouldn't mind some "other" action too ) I think tomorrow this thing will move. It's been winding up pretty tight just waiting to snap. We'll have to wait and see. Tom

USDCAD trend reversal?

I'm with IBFX and don't have any major complains. But, I don't trade the news. I don't think they're the best broker to use for news trading though. The spreads widen and many times people have not been able to enter trades close to the news release ...

Anyone have IBFX

Yup, that Mike guy is definitely just trying to help. PS: I can make 20% per month every month and I think it's very easy too! just kidding..... : I'm trying to end this thread on a funny note. Tom

Forex Profit... Im sorry but... (10% per month?)

That's a great quote and so true. Most successful traders will tell you that they're fairly bored with their trading. I hope to have that problem very soon. Tom

Why I can't win

Hey Mimas, FYI - Interbank FX is closed today due to the 4th of July holiday. Unless you're having a different problem. Tom EDIT - It's now back up.

james16 Chart Thread