It is reading wise words like these that makes browsing these forums worth the time for me. Thank you! Same here I would say.

Under which conditions would your trading fail?

*sigh* 159k units = 1.59 lots = $15.9 per pip. Balance: 5,083 Risk: 15 pips + 1 pip spread = 16 pips $15.9 per pip * 16 risked pips = $254.4 maximum risk on the trade $254.4 = 5% of $5,083 Margin Call: I need to lose 118 pips on this trade to get a ...

The College Trader

My leverage is 50:1. I use Oanda so I don't size my trades in lots but in number of units. You're wrong again. I'm risking no more than 5% of my account. I lol'd. Good luck with your trading.

The College Trader

Wrong. Look again at the spreadsheet (number of risked pips and pip value, in relation to the balance). I was only risking 5% on the position. And yes, I do use stops, but they're manual (one bonus I get is that I never have to worry about MM ...

The College Trader

What?... lol. No, it was obviously just a preview of my position sizing/risk management spreadsheet. You claimed that just because I don't use stop loss orders I don't have risk management. I'm telling you you're wrong. Moving on.

The College Trader

No. Correct. Personally, I use very precise risk management and position sizing rules. image I just enter the balance, spread, risk (% and pips), and I automatically get my position size, pip value, and pip loss before margin call. After the trade ...

The College Trader

I know some professional scalpers that close their trades manually, but I'm sure you know better.

The College Trader

I'm against having a set/predetermined static SL (in pips). It depends on the situation. In other words, when the price goes against my position by X pips, I would exit manually. X = A level that once the price reaches, I would know that my ...

The College Trader

Not if you know what you're doing. I avoid times of such extreme volatility while trading. You could say I'm a scalper who aims for around 10-15 pips a day over 1 to 3 trades. I know what times to get in and what times to stay out. That would be ...

The College Trader

I very rarely place a stop loss. For various reasons I prefer to exit my position manually. Usually, the only times I place a stop loss is when I absolutely have to leave the computer while my position is open. As for position sizing, I use an ...

The College Trader

He's probably having a streak of winning trades and thinks he owns the world now.

Is it possible to make 2% in month with 50k

FX-Petra, I don't use a system and I don't believe in mechanical triggers. I understand what you mean when you see that it still has to be based on something, etc. The thing is: Although the analogy is not bad, this is not exactly a casino's game of ...

What is your edge?

FX-Petra, I disagree. My day trading results are statistically significant and I only use charts. -Marven

What is your edge?

Any positive percentage of return is good as long a it's consistent. How financially rewarding it is depends entirely on your account size.

In FOREX, is 10% return per month good enough?

Hi Petar, Thank you for the welcome and the advice. I personally do not use any strategy, my trading is 100% discretionary and based on reading what the price is doing right NOW in terms of momentum. As you probably know, trade management (i.e. the ...

EUR/JPY Anytime!

I don't see anything wrong with moving the SL when there is a need for it. Conditions change in real-time and you need to try to adapt whenever possible. You can't predict the future but you can act on current conditions. Yes it's ok, depending on ...

EUR/JPY Anytime!

I sure hope so!

Stop Loss and Risk per Trade

Hi guys. Good to meet some fellow college traders! I study Small & Medium Business Management and trade from a home office. Like Taylor427 I focus mainly on EURUSD, though I do trade a few other majors. I day trade using only price and multiple ...

The College Trader

This is completely subjective. No pairs are more "predictable" than others. Any pair will sometimes seem to conform with the classical TA rules, and sometimes not. What you should be looking at when picking pairs is the liquidity, volatility, and of ...

Which are 'predictable' pairs

Absolutely not. I try to be very selective with my trades. I just don't wait for "mechanical setups", if you wish. For me, it's a waste of time, the price is not a 1+1=2 mechanism. No systems, no indicators, no setups, no nothing. Just pure price ...

Stop Loss and Risk per Trade