Myth: Trading is not gambling. It is, unless you're privy to information of a certain outcome. The difference between a good trader and a bad trader isn't that one gambles, but that one gambles more intelligently than the other.

Ridiculous Trading Myths

Any trader that doesn't allow for being "wrong" is a fool. A skilled trader can afford to be relatively aggressive, because their edge justifies it. We can't really adequately judge aggression by risk amount anyway, as a great trader risking 5% may ...

Let's be Honest

The system doesn't make the trader, the trader makes the system. I imagine very few 'followers' here are profitable, particularly over a reasonable stretch of time.

Best trading systems on forexfactory

Some people don't like staring at a screen all day. And skilled, aggressive swing trading can achieve silly returns anyway.

Let's be Honest

It's no riddle to say we live in a world full of manipulation and clashing agendas. Most people their little games, often to the detriment of others.

Let's be Honest

There be traps everywhere. Price movement, women, society etc.

Let's be Honest

I just take a look and ask myself what I think is going on, and whether I like it. The brain seems to handle the tricky stuff, so I don't bother asking for details.

Let's be Honest

Elephants kick up more dust than mice.

Let's be Honest

It's a legitimate response. For our accounts the be worthless overnight, we'd need some near mass extinction type of event. I'd be fighting (and most probably die) over remaining food and weapon stockpiles, not wondering about my balance.

What if the dollar crashes?

He didn't say he was good, just successful, and even if it was skill, there's a difference between being profitable and being good. His point may just have been to say that it can be done relatively quickly. I was a better trader before I placed my ...

Ridiculous Trading Myths

Many current poker pros have achieved "expert" status in far less than 10,000 hours. Some would claim that the 10,000 hours was achieved through multitabling, but then that logic would also apply to traders watching multiple markets. Either way, ...

Ridiculous Trading Myths

This doesn't make sense. If a good entry alone cannot have an edge, then how can it be a good entry? If the edge doesn't exist in entry, then it must exist in exit, so I ask you why you think the edge lies only in exit. I won't wait for a reply, as ...

Risk Reward: 1:1, 1:2 or 1:3

The situation in which we take the trade does not remain static. Not being able or willing to adjust as the trade plays out is a liability. As for which R:R is best, higher winrates are preferable. I see a lot of talk of coinflips and high reward vs ...

Risk Reward: 1:1, 1:2 or 1:3

A candle is simply a summary of the price action over a time interval, range, specified volume, or number of ticks. It is certainly meaningful, I just think people put far too much emphasis on candles as written in books, rather than flexible ...

Misdirections in retail trading / mt4

He's right. There's not much reason for a roo stand by the opera house, since it's mainly populated by stranded foreigners. The closests roos are just around the bay near the canoe wharves. I usually catch a roo to work with my neighbour, after ...

What is a tick?

Same market, but different methods of battle. We're effectively guerrillas doing hit and runs, while the big boys are forced into open and protracted battles. The fact we can enter and exit positions near instanteously is a massive advantage. Our ...

The one hurdle EVERY trader needs to overcome

Most people are too lazy and lack intelligence to do it for themselves. While some may think that statement is unfair, I think the fact that most people don't do it for themselves proves it true. Of course people will ask others for help though. The ...

Advice I wish I had as a complete forex newbie

Depends on whether you want truly mobile trading, or just portable trading. A netbook will only give you the latter, a while a phone is more suited to the former. A tablet is more like a more comfortable netbook than a compromise between the two. I ...

Best portable trading method...?

Should my car be red, silver, or black? Ignore R:R, and just focus on making good entries and exits.

Risk Reward: 1:1, 1:2 or 1:3

10 years of what? That may only be the equivalent of a few months of full time trading, which is not much. That said, I think a good trader must have a sharp mind, and people with sharp minds learn quickly. All the talk of money management is ...

Should I throw in the towel after being in the negative for 10 years?