Stop loss — If you are long, Isn't your stop out of wack? Perhaps you meant 1.2690?

I don't believe in elliot wave, gann analysis, Fibonacci retracements , Stocastics or any of that other nonsense, I draw trend lines and use support and resistance, duplicate trend lines, putting one on the bottom and duplicating it to the top, ...

I dissagree about no bad traders. The bad traders drop out and a whole new batch of recruits join, and 95 % of them fail, and than more recruits keep joining. It never ends.

I agree with using stop losses, but sometimes I will not set a take profit, this eliminates my fear of losing my reward and exiting too early. Sometimes you can catch a good trend. But it can reverse and take your stop loss also. Works both ways. ...

any indicator — All indicators are crap! Go with the trend and place yor stop orders according to which frame you are using for your trend, whether it be daily hourly or minutes. And the trend will retrace! Or turn. So don't bet your life on ...

Hi Merlin. I usually use the Oanda platform, messing around with indicators, ma's, Bollinger bannds, stocastics, par sar etc. I like drawing trend channels,using support and resistance, break outs, wedges and all that other crap. But I guess my ...

Thanks for the reply. I will give it a shot. I love trading but programing sucks for me.

The Hans system — Has anybody been following up on the Hans system? Posted on several other forums. I have read that it worked 100yrs ago and works today, it is basically elementary but what I find is it is hard to code to a program. How could ...

Very true, But I also think if you can build up a mini of 1000 to 2000 in one year, you could consider your self a pretty good trader. A lot of traders think to big at first, and this is where the drop out rate is high, as their expectations are ...

If done when the time is accurate, you can see the profit rising up fairly quickly? I wish I had that book.

I think a lot of the market wizards had a lot of guts when they started, so they lost a lot to begin with. Once they became experienced the same personality that destroyed them also made them successful. Also I think the new traders who have never ...

You didn't say if there was any money at risk. So I'll take 80% CHANCE TO WIN 4000 AND 80% CHANCE TO LOSE IT.

I like the way you think.

It sounds like a break even proposition either way. If you take80% chance to win you are risking 800 and if you chose to give back 3000 you would risk 800 to get 1000. On the other hand 80% chance to win 4000 and 80% to lose is break even, and ...

I agree with you also, but I feel it depends how good your system is. If you can win 80% of trades you don't need 3 to 1 risk. 1 to 1 would be excellent. If you can only win 50% of the time 2 to 1 would be excellent. Risk to reward depends on your ...

I think indicators are useful only for the fact that you enter and exit a trade based on the indicators you like to use. You are repeating the same process over and over again whitch gives you a better odds than just guessing. But I think you are ...

How much are you paper trading with? If you plan to start out with a few hundred bucks than you should paper trade with that amount. This is the only way you can learn to expect what is real. I myself paper traded for a while than started out with 3 ...

Hi I am new here also. Just found the forum several weeks ago, and I really like how nice and friendly everyone is here. I have been trading for about 3 yrs, so I pretty much know what I'm doing, but I am not considering myself a pro yet. I first ...