Regardless of how this trade will end I can't help myself thinking how good the timing has been before the 150 pips retracement. I would have dealt the other way around, adding 5k units after every 100 pips against my position and trying to reach ...

I'm going long USD/JPY at 80.50, target 100

hannover, thanks. I have a hard time understanding how a system should fit a trader's personality. The only way of making money is identifying inefficiencies and they have nothing to do with the personality of Joe Trader. Either Joe Trader adapts ...

What Defines a Good System?

Trading is the activity in which everyone wants to find the next sucker and the more the suckers bleed the more money the other party makes. Therefore I can hardly imagine how this activity improves more than it destroys. The argument can continue ...

Advice I wish I had as a complete forex newbie

It puts the odds in your favor. At least 5 profitable years across 10 pairs. One year, AFTER I decided that it's a good system. At least 25% a year, risking max 1% per trade and not more than 20% drawdown peak-to-valley. You are in the wrong ...

What Defines a Good System?

Can I download the next book after the latest? Somehow I'm very sure that the new wave counting is only 99.99% accurate and it will suddenly stop working after this new correction of masive scale. I need to be prepared for the correction ...

My Elliott Wave book

Long term predictions can be right or can be wrong and everybody predicts one way or another. But I find it extremely moronic to predict targets and I think that after reading crappy books and listening to "reputable economic forecasters" all day ...

Eur 1.7 , Yen 65 , Aud 1.2

..and if the strategy doesn't work you can at least win something by selling the paintings. And don't forget the fibonacci spirals as money management. Try the topic of fti.

Fibonacci: Time and Price together

We tend to use round numbers for simplicity, I'd be surprised if anyone would start his test at 83 days. As the best number of days is a nice case of curve fitting, a better idea is to take a fourth of profit aftter 60, 80, 100 and 120 days.

How do you gain, and measure, your trading system's statistical edge?

Because there are a lot more ways of being profitable with a small risk when you try to reach 25% every year than when you try to double you account!!! With an account of 1 million, 25% every year means a very good living. With an account of 10K, ...

Account size

I detect a very experienced trader around here, please excuse me.

3-9% a day with CHOROS?

Let me see. You sold. Your stoploss is 0.3830. The price goes against you and reaches 0.38298. The broker closes your position. How rude, isn't it? Actually this is how the market works. Your stop means that you're willing to buy at 0.3830. If ...

Has anybody experienced stops being hit more frequently?

These are 2 big fallacies, as the requirement of a strategy is to offer an edge (and not to "fit" a trader) and money management is a simple thing which can be mastered by my dog. You didn't answer to the question of Deusomega. Does that system ...

3-9% a day with CHOROS?

I briefly read the Dance system and it was very clear to me that it takes a very long time till one can use it profitable. I don't know if it provides an edge, I would say not at all because the creator of a system must explain, first of all, the ...

3-9% a day with CHOROS?

You didn't understand what I've explained. Your argument is completely flawed even if your mentor would be the most profitable trader alive. I know I'm right but unfortunately you don't know why you're wrong. If anyone needs to know, fractional ...

The Power of Money Management

You've made a few mistakes. In the first example, when you used fixed lots, you lost due to a single trade, the -400 pips trade. If you would have use your average stoploss, which is smaller than 100 you would have lost max 100 and your balance ...

The Power of Money Management

I'm still asking myself if SIGMA sold euro at 1.3528 after waiting for his VSA confirmation. I can't understand how somebody would try to sell euro. He has to be the newbiest trader alive. And another important point too, you can't prove that a ...

Stop fooling yourself; There is no system

And if you start your H4 candle at a different hour, will you see the same pattern? I know 100% that the markets will fluctuate, in one direction more and in one less but I'll never assume that a price will be reached because some bullish ...

EUR/CHF, USD/CHF turning up?

[/COLOR]20 years ago no computer has been able to beat Kasparov at chess. They have more power now but don't forget that it was not the power who beat him but the computer used the database with the previous games of him. So they devised a clever EA ...

No more BS - What have you learned?

That's a false statement. If you explain a technique with a clear edge, the most of the people using it will make money. Not all of them will make a lot of money because only a few are able to use at its full extent but the vast majority will ...

No more BS - What have you learned?

It is very hard psychologically to spend a whole year losing slowly and waiting for a gain which you don't know when it will come. And it could happen that the drawdown will become so big after 2 unlucky years that a recovery will seem impossible, ...

Trading Systems work for 6-12 mnths then die?