Very true, as most any skill comes from actually doing it rather than pretending to do it. But even the planes (trainers) most people learn to fly on has duel controls and an instructor sitting next to you. Probably not a good outcome if the student ...

How many of you, still prescribe demo trading to others?

Exactly! Now a lot are up to $100K. All that does is mask mistakes and gives you a false sense of security. I always tell those that want my advice to open a demo, and if they can't adjust the demo amount, then put in some super stupid trades so ...

How many of you, still prescribe demo trading to others?

Exactly. Bollinger Bands and RSI are calculated the exact same way, regardless of the market in question. It is the other market forces that cause the result of the indicator's expected price change to be different for each market. There are on X ...

How to lose money

Only in currency. I trade a few other pattens for currency, too. While all the methods tend to work well in forex, they do not do the same in stocks. I trade stock/index options based on extreme overbought/oversold conditions (using indicators) and ...

How to lose money

Perhaps that is the case in currency markets, but not in the stock market. I make most of my living trading stock/index options rather than currency, and I base my decisions on overbought/oversold conditions (my live trades are posted in the "Let's ...

How to lose money

I'm sorry that you interpreted my comments when I said "you" and "your" that I was speaking to you personally....those were generalities to go along with the fact that my daughter, a new trader, could trade by just focusing on the main subject of ...

How to lose money

While I do agree with the concept of each of these, I just don't like to deal in absolutes ("Will always fail"). You do not have to be successful to say something doesn't work, but you DO have to be successful to say that something does! I HAVE NO ...

How to lose money

While I do agree with the concept of each of these, I just don't like to deal in absolutes ("Will always fail"). You do not have to be successful to say something doesn't work, but you DO have to be successful to say that something does!

How to lose money

While the years of screentime and watching patterns over and over and over allowed me to recognize those patterns that occurred consistently given the same conditions, the divergence setup was simply a result of that. When I taught my daughter to ...

How to lose money

Maybe you are too caught up in the technicalities of the mathematical definition (calculated result set derived , constant, variables, stuff like that). The definition of deviate is to turn aside or deviate, as from a path, practice, or plan. I ...

How to lose money

Just as a heads up, make sure you look at the date of the post. You're asking a question about a post over 13 years old. Easy to do, just something to be mindful about. Cheers....

Is There Any Simplest Method To Success In Forex?

Hello Iamfx, I hope you and yours had an enjoyable holiday. Yes, for this pattern of RSI Divergence I only trade going down. I have found that to be a lot more reliable than the reverse. On the stock side, that seems to be due to people selling at ...

How to lose money

I hope you don't leave, VEEFX. The whole point of forums is to share ideas and open yourself up to new possibilities, and your ideas are as valid as anyone else's ideas. I just have a difference of opinion concerning algorithms and I don't always ...

How to lose money

Appreciate the shout out, Rennaissance! But seriously, try to think outside the (your) box. Indicators are nothing more than another tool in the trader's toolbox. It is like the claw on a hammer: usually a curved claw suffices but ...

How to lose money

I set my RSI to 5 periods.

How to lose money

Just to be clear and because it is kind or a pain to get to the other thread, I'll repost what I'm talking about: image This chart is from the 2008-2009 timeframe when I was teaching my daughter to trade. I no longer use the Ichimochu Cloud (and ...

How to lose money

Hello, I am one of the traders that use the RSI Divergence method, and have been since mid-2007, so I suppose it is what an individual considers "the long run". There is nothing odd about this pattern, as it is basically just a double top with the ...

How to lose money

Judging from a lot of the comments here on Forex Factory, more likely a "bitter" person!!.....

How to lose money

image

What works, and what doesn't

Lots of people feel that technical indicators are useless. I don't fall into that group. For me, they give me that visual of what will most likely happen based on what has happened in the past under the same circumstances. To others, they are a ...

What works, and what doesn't