I have battled with this: taking half profit equal to SL and leaving the SL for the other half. To achieve your original TP you will need to go twice as far, making the odds less likely. I only use BE's if there is a big news announcement due, ...

Price Action and Trading Discussion

I'm signing off this system .... I guess I'm too conservative lol. I am actually doing ok trading normally and am happy with that. My problem with this is say you get to 10-20k, have you seriously the balls to chance it all (or half of it) ...

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

We could have been 200% up by now with your trade as well

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

Euro is moving up well now as I thought. Looks like aud is weakest, followed by jpy and we are seeing the biggest moves on these two. I am waiting for setups on these but I won't recommend any entries for the challenge as I really am not confident ...

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

Done

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

Shall I place the order?

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

You learn something new every day thanks for that tip. Ok then the trade explorer is up and waiting for our first trade! I am watching the eur pairs as I think the euro will bounce back in the next couple of days. Come on, red hot set ups now ...

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

I have my eye on EJ. Well? Come on all you trading brains, let's get constructive

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

Good! Well I have a $50 demo set up and ready to roll. Give me entry, SL and TP and I'll input it. I'll get it on Trade Explorer tomorrow. I decided against doing this on my own for now, as 1) I have a tendency to get trigger happy sometimes (not ...

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

It's almost like trading in a competition. You max out and hope you don't get a margin call. I tried it once and vowed never again lol.

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

A win rate of 66% on a 1:2 R:R is a PF of 4. Surely it doesn't matter what R:R you use so long as you achieve PF of >4. Ok, this goes off a bit on the rules of this challenge and it will take a few more trades to achieve the desired goal, but surely ...

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

High probability trades are easy to spot in hindsight. I will simply half my SL and try to time my entries better.

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

1:2 is hard . Not sure I could. But worth a shot. Worth a $50 demo and a trade explorer!! You can then all watch me fail miserably, lol.

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

Yes of course. It is a given that I never take a trade with R:R less than 1:1. Sometimes I bail out early, so I do end up with less than 1:1. Anyway, unless I can do it again that must have been a fluke!

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

Damn it, I just had 11 consecutive winners. On demo. So what if that was on $50 at 50% risk?!?

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

I've only read the 1st page and this page and I find this idea quite intriguing, as clearly I'm not the only one. I use a lot size calculator based on account balance, risk and stop loss distance. Well, you can input 50% risk on a $50 account with a ...

Rags to Riches in 10 or 20 Trades - Simplicity at its finest

Yes. But no-one uses technical only and takes no notice of news announcements. There are a number on this forum too.

Can you actually live off Forex trading?

In my opinion you needn't have upped your lot size when you had your string of losses; you're actually accumulating a good amount of pips. That gets filed under greed and is an account killer! Good luck.

Is trading really that hard?

After 9 consecutive losing trades at 0.02 lot you enter 2 trades at 0.5 lot to chase your losses. Luckily this time it worked out for you. What you are doing is similar to martingale. I think a 4 day trade history is too soon to judge on. If you are ...

Is trading really that hard?

There are a few tricks you can use to your advantage when entering a trade to limit your drawdown. One is to enter by pending order. I sometimes use +/- 20% ATR after candle close. Also look on shorter TF. It helps

20% per month. Is this possible?