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- Advanced order EAsStarted Aug 4, 2015|Platform Tech|1 reply
Hi, I am not a fan of MT4. You would know that especially if you read my thread on it in the ...
- PipC replied Aug 2, 2015
You will probably never be able to get real hard results on profitable retail traders vs unprofitable ones, but you can be sure that there are more that are unprofitable than those that are profitable. Also, most unprofitable ones are likely would ...
Percentage of successful traders in Forex Factory
- PipC replied Aug 2, 2015
I'm glad I am not the only on that thinks MT4 is clunky and complicated. It's a lightweight application, that's true, but it takes too much work IMO to get it to do exactly what you want it to do (that's if it's even possible at all) and to me that ...
Why do so many people use MT4?
- PipC replied Aug 2, 2015
I wanted to clarify one point but what etrade 360 had mentioned. He talked about scaling into a losing position. There is actually a valid place for this. I remember reading about it here: url If it is done correctly, it can get you a better entry ...
90% of traders fail...
- PipC replied Aug 2, 2015
Your welcome Terminator12. Pharley thank you very much for sharing your views, resources, and experience with us. I think it has been very helpful not only to me, but to the rest of the forex community in general. There are many important lessons to ...
90% of traders fail...
- PipC replied Jul 30, 2015
Yes I see how this strategy would be profitable. Makes sense. You basically draw in your support and resistance lines using the weekly chart and then you look for a pullback and trade in the direction of the trend with half the risk. Then you add ...
90% of traders fail...
- PipC replied Jul 30, 2015
Yes that may be true that the charts display the same type of data, but they are on two different time frames. With position trading, time is a non factor. You can hold the position for as long as it takes to reach your profit target. With day ...
90% of traders fail...
- PipC replied Jul 30, 2015
Yeah that sounds like it. Like you said though, you really shouldn't be trading with a bucket shop that runs stops anyway. Any reputable broker could care less about where your stop loss is. In fact, if you are stop loss is hit too frequently, ...
Do you use stoploss?
- PipC replied Jul 30, 2015
Very good points and tips.
10 Forex Tips Every Brand new Trader should know
- PipC replied Jul 30, 2015
I think it's worth mentioning that IMO, consistency is also relative. There are traders who make a little profit most days of the week, and there are traders who lose most days of the week, but then have a enormous profit in one month or two that ...
How to make money consistently trading forex?
- PipC replied Jul 30, 2015
A hidden stop loss? Hidden from whom? You can't hide it from your broker or it won't execute. Maybe I am missing something?
Do you use stoploss?
- PipC replied Jul 29, 2015
That trading technique is very interesting. I have not tried scaling into my trades yet, but it wouldn't work well on an intra-day basis for me probably. I could see how you could increase size on each new breakout to a new high. Let me ask you ...
90% of traders fail...
- PipC replied Jul 29, 2015
I see. 2-3 setups isn't bad at all. Especially if they are found every day. What would you say is the holding time frame on average for your trades? I imagine not long at all since you are only going for 20-30 pip moves. I can't imagine finding a ...
90% of traders fail...
- PipC replied Jul 29, 2015
Do you find a lot of setups during the Asia session? What time frame do you trade and how long do you spend in front of the computer looking for setups each day?
90% of traders fail...
- PipC replied Jul 28, 2015
I don't use pivot points, but just like any other indicator, there is no best. Everything works sometimes. Nothing works all the time. Do get caught up in curve fitting.
What is the Best Type of Pivot Point
- PipC replied Jul 28, 2015
Personally, I would only trade without a stop loss if I was using extremely low leverage. Only on daily time frame and up. Any less than that is courting a fat loss if you are unlucky enough.
Trading Without a StopLoss
- PipC replied Jul 28, 2015
Because similar to chart patterns and price action trading, it is not mathematical. Indicators are math based and either indicate or they don't. Elliot waves are based on interpretation. Most will struggle with that. 10 different people could ...
why people say Elliot is hard to learn?
- PipC replied Jul 28, 2015
I really like that thief analogy! I think that's exactly how it is for day traders. Day traders have to be nimble and quick with their positions. The whole concept of trend following just doesn't work on a micro time frame. Taking profits is not an ...
90% of traders fail...
- PipC replied Jul 27, 2015
Greetings! Hello there. I haven't tried the weekly charts yet, but I can imagine how huge the moves must be on those charts! Stop loss levels must be thousands of pips. On the daily charts I employ a more set it and forget it strategy. It's pretty ...
90% of traders fail...
- 90% of traders fail...Started Jul 27, 2015|Rookie Talk|201 replies
I know that most have heard this saying before. "90% of traders fail." It is given that most ...