... till they realize that the obsession around psychology is BS created by Mark Douglas-like individuals who will always make money writing about something which is impossible to quantify. A healthy approach to the markets based on experience will ...

Ingredients of Trading Success

I'm looking forward to your posts.

The Quantist

I'm not confused at all. You should be able to calculate alone your position size! C = your capital R = your risk per trade (in your case 5) S = your stoploss in pips, i.e. the difference between your open price and stop loss price Lot size = R / ...

Formula Construction

Where is actually the difference between 2 and 3? It doesn't matter if the trader falsely believes that his A,B,C,D indicators predict the market or just signal a certain probability of winning. Trader2 and Trader3 have the same setup therefore as ...

Nuggets of Wisdom from Jesse Livermore, Greatest Trader Ever

Of course not. But they would be better at doing it than most of the people who try to judge the importance of news and their impact on price.

Nuggets of Wisdom from Jesse Livermore, Greatest Trader Ever

It doesn't make sense to criticize yourself. You didn't know cable will go down. You supposed it based on some analysis. The market could have gone long another 200 pips before going short. If you trust your analysis then you know that sometimes you ...

Nuggets of Wisdom from Jesse Livermore, Greatest Trader Ever

That book is great for entertaining but it will not make you profitable, neither the quotes from it. I see them simply as another useless rant on psychology and discipline which comes and goes from the Editor. Anyone who thinks that he must read ...

Nuggets of Wisdom from Jesse Livermore, Greatest Trader Ever

I think he meant what is the chance of the drawdown to be at least 10 units after 30 trades. The excel formula doesn't work because you consider 10 winning to be enough but you forgot to consider 10 losses at the beginning of the trial. There's no ...

A "hardcore" mathematics question

The fact that you lost is not important, we all lose from time to time. I bet that you don't know why you have lost. You based on trade on rumours, imagining the future before the London session, then you entered after it even the session screamed ...

Stating The Obvious and The Quest For Wisdom

1. Greenspan is not a trader and never has been. 2. It is harder for somebody with 5 billion to make money in forex than there's for me. I can buy 1 million without moving the market, you can't do it with 5 billion. Greenspan is referring to the big ...

New study shows only 1% of traders are consistently successful

Agree. Only if you enter purely random, as in having a program which every day, at a random hour and for a random pair, opens a long or short position, random too. Agree. Wrong. First, the prices are not random during the day. Second, if they are ...

New study shows only 1% of traders are consistently successful

Tools > Options > Events > Enable > disconnect

dropped internet connection alarm on MT4

Elvis?

just charts and chat

And your requirement is...?

How to overcome "Hindsight Bias"?

Troikaone1 has got it. There really is a mathematical model because the market is always moving.

KISS

I use an EA for my trading and it proved succesfully. Anytime I try to trade the same system discretionary I'm doing worse. If discretionary trading would be profitable, 5% would lose money and 95% would win. According to Ian Ayres and his ...

How to overcome "Hindsight Bias"?

I meant the last sentence. Is it clear now?

S/R and TL on Randomized Price Movement

LOL Well, my answer is actually my last phrase, which you forgot to quote.

S/R and TL on Randomized Price Movement

A VERY BIG YES. In other words, you ask if there's some function which takes as arguments some old prices and give you a better than random entry. It is not a prediction I'm referring to but an increase of the probability of winning. The old ...

S/R and TL on Randomized Price Movement

You're right, rand() is not the best function but you wouldn't be able to trade its numbers succesfully. It is not so flawed as you may think. If you could somehow measure its pseudo-randomicity you'd see that it doesn't deviate enough to increase ...

S/R and TL on Randomized Price Movement