The idea is to capture significant shifts in value of the underlying asset against the dollar. Trend-following is a niche style of strategic investment and its approach to diversification is different from a traditional portfolio. There is no ...

How many strategies does one need?

It applies to any currency or commodity instrument. That is not diversification.

How many strategies does one need?

In a trend-following portfolio, diversifying a stake across uncorrelated or loosely correlated instruments tends to reduce equity volatility by increasing the likelihood of catching a proftable move.

How many strategies does one need?

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What kind of music you hear while you trade?

The trader himself is also a system whose experience and beliefs would invariably affect the system that he uses be it mechanical or discretionary. The trick is to find a trading style that is compatible with oneself. Successful trading involves ...

Just a bit of advice, for anyone, for free

Welles Wilder did decent work, whether or not his indicators 'work' is up to you. ?

YouTube - The Real Delta Phenomenon

Depends on how you define 'work'.

YouTube - The Real Delta Phenomenon

On the topic of diversification, your trading system(s) should be able to answer this question: If today, prices travel 1-2 average trading ranges against me will my portfolio be OK?

How many strategies does one need?

You can create such a strategy but it doesn't remove the emotions from trading. It does provide objectivity, which can be useful. Well, you can create a strategy that objectively defines this in its exit parameters. Intuition is a good thing, but if ...

How to start like a pro? - afraid to open trades

You can and probably should translate them into a quantitative strategy. Implementing such a strategy would not demand much skill other than managing your own emotions. On knowing when to break the rules; it comes down to your understanding and ...

How to start like a pro? - afraid to open trades

How do you define consistency? I always thought that the idea of a retail daytrader today making a consistent number of pips per day was a myth. If you know someone who is able to achieve this please share. The edge in short-term trading is hampered ...

How to start like a pro? - afraid to open trades

Ok. I just prefer to call them funny-mentals. I didn't invent the term, can't really remember where I got it from.

Just a bit of advice, for anyone, for free

Unless you have insider knowledge that gives you an edge over the rest of the world fundamentals that you typically read about are not useful and have already been priced into the market.

Just a bit of advice, for anyone, for free

You mean funny-mentals?

Just a bit of advice, for anyone, for free

Doesn't matter. Predictions from retail speculators are no better than random.

What is the MOST important level on your chart today?

Yup. Not cutting losers is definitely a leading indicator of impending disaster. Though I would also say that people tend to overestimate their heat tolerance and trade too large a position only to go on tilt when things don't turn out their way.

Does taking opposite trades work?

Just your home currency to ensure that you have enough to stay alive.

How many strategies does one need?

I wish you good luck in your search then. I would still like to continue this discussion though. To me, whether a trade resulted in a win or loss says nothing of the validity of entry. You will never have the same outcome because markets are always ...

How to start like a pro? - afraid to open trades

Hmm. I actually disagree with the effectiveness of that kind of mentorship. Trading is entirely a function of your beliefs. If you are satisfied with the reasons behind your trades then there is nothing to discuss. If someone else finds a fault that ...

How to start like a pro? - afraid to open trades

Well, I guess the next step would be to do some research and design a trading strategy with a positive expectancy. Live by these rules and you can't go wrong: 1. Cut losses 2. Ride winners 3. Manage risk 4. Follow the rules without question 5. Know ...

How to start like a pro? - afraid to open trades