Yup. It's called being flat - your net risk is reduced to zero. Essentially, it's a free trade.

james16 Chart Thread

Ignoring the specific currencies for simplicity, 50 pips @ 2 mini contracts = $100 risk on a single trade. Which is 10% of your $1000 account. Saying your loss is 'limited to 50 pips' doesnt really mean anything. I could be trading 10 full contracts ...

james16 Chart Thread

Many people would disagree with you there. But that's a quantitative issue between you and your risk preferences. 94% hit rate? No 'possibly' about it I dont think it makes you a fool, at all. It's more a sample size thing than anything negative. ...

james16 Chart Thread

I honestly dont see a single trade there worth taking. Some people just work that way. If there isnt at least a token amount, I dont treat a demo account seriously. It isnt going to be an amount that sends me broke or anything, just enough that I ...

james16 Chart Thread

It sux that you lost twelve bucks To be honest, if you really did that and are trading daily/weeklys then you either got very lucky and caught a few runners, or you are trading way too much of your account and are destined to end up back at the ...

james16 Chart Thread

... The other day I saw a dvd of Back to the Future on sale at a store. Thinking of calling up MIT and asking whether they want me to lecture some classes on nuclear physics.

james16 Chart Thread

It isnt incorrect, per se - these are subjective things so as long as it is straight, it cant be 'wrong' (although some will even argue over that one... parabolic trendlines ). But, think about why we look at trendlines; because we expect ...

james16 Chart Thread

If there is so much confluence and it is such a sure thing, why would you want to use a tight SL? Wouldnt you want a full stop to avoid being shaken out of the trade by short term noise? If it really is such an easy trade, I would imagine you would ...

james16 Chart Thread

These should be hung in a gallery

james16 Chart Thread

That's the most random trendline I have seen in a while. A 'touch trade' at that level is essentially closing your eyes and hoping price will suddenly reverse after a huge bearish bar and bounce off the round number/ppz. Which is fine, if that is ...

james16 Chart Thread

'Where can I purchase a time machine to take me back to 1985 when cme pit trading was still relevant?' image

james16 Chart Thread

Me either - it's a good trait No institutional will hire you on the basis that you did some training with an internet daytrading training firm. Maybe a prop desk somewhere, but that's an even bigger scam. This whole thing is a marketing exercise ...

james16 Chart Thread

Sweet, maybe they can teach me to go bankrupt, disappear for a few years then come back and blow up a couple of hedge funds and lose money for a bunch of other people like Richard Dennis and Curtis Faith both did. WHere do I sign up for this awesome ...

james16 Chart Thread

Yeah, $5k plus $100/mo if you use them as a broker, unless you are hitting 10 roundtrip lots (or 100 minilots). Or about 250/mo if you dont use them to execute. Assuming they havent changed lately. IB only has a $10k minimum account, but the minimum ...

james16 Chart Thread

Says it all, really. Trading and life

james16 Chart Thread

Not necessarily. Nothing wrong with trading fx per se, there are just alot of scammy brokers out there just looking to fleece vulnerable and disadvantaged traders for a couple of bucks. How else are you going to turn a profit on a bunch of hundred ...

james16 Chart Thread

Tradestation != Trading Station. One is a professional level futures (and everything else under the sun) trading platform, the other is just some junky inhouse margin fx broker software. MT4 has its quirks, for sure, but it is better than most of ...

james16 Chart Thread

ha, I think I missed that one. Although I suspect my macroeconomics is almost as bad as theirs I also doubt I have the patience and diplomacy skills to deal with reporters, commentators and assorted idiots. I'd get fired on my first day after ...

james16 Chart Thread

Obviously, no desk is going to come out and tell you how they trade. For that, you have to go work there. But knowing why they trade is still useful, imho, especially when you use it in conjunction with the time horizons that each broad group is ...

james16 Chart Thread

Sorry mate, my fault - clarity isnt always my strong suit I meant that the trading we do here, to me at least, is easier with individual equities than with fx alot of the time. Mainly due to the second reason you listed. It is really, really ...

james16 Chart Thread