ROFL. It's possible to double your account, of course it is, it's also possible to blow it out completely. I could probably risk 10% per trade and double my account inside of 2 months. Of course less than a year later I'd be re-funding it... lol, ...

Is it possible to make 20k to 70k in short time (7 weeks)?

Well, 23% assuming max tax bracket. Short term cap gains is taxed at your personal income tax bracket, so whatever that ends up being minus credits and deductions. If all goes as projected my 08 filing will be substantially below 23%. What are the ...

How is forex trading taxed in your country?

Yes the daily open and yesterday's close can be a powerful area of temporary support or resistance during the day. Also look at yesterday's high and low, along with standard pivot points.

Does daily open provide support and resistance for trades later on?

Yep. Ok, so you look at where price has reversed before (swing high or swing low) and formed an area of support or resistance. You set that as your TP, or if in some quality it looks better than the others (how so?) you'll use a trailing stop loss ...

Any pin will do?

Or maybe people that have a million dollars don't like to talk about it, since it attracts a lot of negative attention...

Who's made a million dollars?

Well because there aren't very many huge trends compared to small trends, and a lot of the turtles washed out. Today most of those traders don't even use the same system, which tells me that changes need to be made somewhere. It does perform over ...

Dennis' Turtles

Nod. I've noticed that most trends don't occur in a vacuum, but rather seem to center around a particular currency. For instance the EURUSD's trend was due to USD weakness, which led to trends against the USD for quite a while. The same thing is ...

Dennis' Turtles

ROFL... just wait, I'll laugh if I hear "Significant risks to the downside remain" again.

Silly Trader... When will you learn that fundamentals are the only way to trade?

So 40-bar has worked for you too? Do you actually trade that way? FYI for those that don't know: Donchian channels are just an X-period High/Low indicator. Found an MT4 indi, attached it here. Basically all you'd do is set it up and wait for a bar ...

Dennis' Turtles

Laff, short term right after the announcement? Nobody knows, no clue. Usually it's counter to whatever the trend is prior, but that's just one of those things.

Help On GJ pls.

Nod, but they do still have some problems with price feed lag during bursts of volatility. What they did was add some delays in the process to make it impossible to take advantage of the old feed delay while discouraging scalpers. I notice price ...

Oanda lags

Shrug. I've had trouble trading anytime the euro-london session is slowed due to holiday. The US markets could fall into the ocean and it wouldn't matter that much, but even a minor holiday in the UK seems to kill it. I'll be taking the last 2 weeks ...

Should one stop trading in august, because of low volume?

Yes and all of that sometimes lags other brokers. I've had my Oanda's live feed lag my IBFX demo feed, lol. Altho they are getting better at that. It's difficult to scalp on minute to minute time frames that way, yes, but then again you really need ...

Oanda lags

Not sure if you need to "decide it's no longer valid" as much as you need a clear and defined exit characteristic. A lot of people that system hunt do so because their exits stink, and they just keep changing the wrong end of the trade. A simple ...

Any pin will do?

Yes, with an ATR-based lot sizing. According to Van Tharp, 40 day variants still work pretty well... I've never had much luck w/ any of those approaches in forex. I do use a 10-day high/low as a "hey, dude, there might be trend here" signal, but I ...

Dennis' Turtles

Yes and yes. The whipsaw is horrible... but it does work over large enough time frames. I was told that using a momentum filter helps some, I haven't really tried that tho.

Dennis' Turtles

Depends if you want to be a trader or analyst. Finance degrees are great for analyst, not so useful for traders. If you want to be a trader, go with computer science with a sub focus in psych and economics. During that process you'll be exposed to a ...

What kind of Degree for Forex?

This is going to be heresy... laff, but I've never had good results w/ pin bars. They don't accurately predict tops or bottoms. You'll get extremes that occur w/o them, and you'll get extremes that occur with them... that then keep on going. Look at ...

Any pin will do?

I'd be really careful about that, UK still has horrible fundamentals and has been in a down trend since falling below the 365 SMA. It's in consolidation at the moment, with a floor that just won't break... for now.

Long Term GBP/USD ( Warning Sign )

Yep. 3/9/21 EMA, 365 SMA. Pivots and intra-day points. Simple green and red bars on black background.

Pimp your charts