Here are my 2 cents on this. Bear in mind I am a futures daytrader so my strategy might not be applicable to Forex medium to long-term trading. Very rarely do I initiate a trade with my max position size. I should say that at least 70-80% of my ...

Soultrader's Clinic :)

Isn't it amazing that such a bright and acute-minded individual can actually become victim of the same rookie mistakes over and over again? Many people like to focus on the fact that Victor's refusal of stop-losses and overleverage are the main ...

How many blow-ups are necessary in order to become a pro?

Hi Soultrader I actually don't care about any FX 5min daytrader as a proof...if there is none, so be it. I am a futures daytrader and I am consistently profitable, so I am happy and I know I am doing the right thing. FX is a different animal. I ...

Soultrader's Clinic :)

First, that is a one-way fee...which would make it $4.84 round trip. Second, as I stated in my previous post, if you want to be a daytrader you NEED to choose the right instruments to daytrade and possibly shop for the best spread/commission plan ...

Soultrader's Clinic :)

I don't think we engaged into any battle to be honest. At least I didn't. As you said, to each his own. As long as we make money, we should all be happy. What I was debating was the argument that daytrading FX is more costly than daytrading emini ...

Soultrader's Clinic :)

Mmm...I might be wrong, but let's do some math again. Numbers don't lie. Let's say I initiate a 2-contract trade in YM and come out with 24 ticks. I take 4 ticks off due to spread and vig, and what I am left with is 20 ticks. YM's tick value is $5, ...

Soultrader's Clinic :)

Thanks for the information. So the difference is only 0.2 ticks between eminis and forex. Minimal difference I would say, which shouldn't prevent a good daytrader with a real edge from making money. As for unexperienced traders paying higher spreads ...

Soultrader's Clinic :)

Very good observation here. You make a great point and from the bottom of my little experience, I can confirm that.

Soultrader's Clinic :)

I don't think the tick value really matters here. Let's think in terms of ticks/pips please. YM's tick value is $5, you are right. If you pay $5 for commission and the spread is one tick, by the time you enter a trade you are down by $10 ----> 2 ...

Soultrader's Clinic :)

Ok. Let's do some simple math to get this straightened out. If you trade EURUSD, the spread is 2 pips. Hence, for a 10-pip net profit you need to make 12 pips. In futures, if you trade YM for example...the spread is 1 tick but you have to pay for ...

Soultrader's Clinic :)

Soultrader Keep in mind that by trading lower timeframes you can do a lot more size than trading higher timeframes due to much smaller stops. Lower timeframes also provide way more frequency, which means that if you have a real edge you are gonna ...

Soultrader's Clinic :)

Hi JodyOng I think one of the beauties of trading is that it incorporates a long array of different styles and preferences. I honestly don't think there is a big advantage trading smaller or longer time frames. There are pros and cons for both of ...

Soultrader's Clinic :)

I agree with you. In fact, I mentioned in my post that FX is structured in such a way to make short-term trading unappealing. I am stepping aside now because this is not my thread and I wouldn't want to go too far off-topic. Cheers to everybody.

Soultrader's Clinic :)

Hi Soultrader Your last post clarified all of my doubts and I am sorry if I misinterpreted some of the comments you made in the last couple of days. You are right, FOREX is a totally different ball game. It's like football and rugby, similar sports ...

Soultrader's Clinic :)

Traders who make money year in year out on low timeframes (esp 5 min) are like rocking horse shit - you cant find a real one. if there is one on here that can show a consistent 10 months out of 12 profitable trading 5 minute charts i'll be very ...

Soultrader's Clinic :)

Hi Steviet It sounds like you have more fun trading in "scalping" mode rather than "swing" mode. Have you asked yourself whether short-term trading may be your niche?

Steviet's Live Trades!

Minchia mi sembra di partecipare al remake del Padrino!!! Ciao Italiani!!!

Forza Palermo Breakout System GBP/JPY

How to spot a relative newbie They trade the lower timeframe charts (1,5,15,30,60) I quite don't agree with this. I know a few professional daytraders who trade emini futures and make a fortune year in year out. They tend to specialise in one or two ...

Soultrader's Clinic :)

what do you guys expect from tomorrow's NFP?

Cable Update (GBPUSD)

Hi Stevie I am glad to see that you've started to find a "comfort" zone with your trading. The more experience you gather, the more comfortable you are going to get and the more profitable you'll be. By reading your recent posts, two things stick ...

Steviet's Live Trades!