Small accounts are not meant to get rich from but rather develop processes so that when you do trade size you will have the mechanics in place.
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DislikedHow much minimum one need to make a living out of Fx trading? Please be specific only in numbers.Ignored
DislikedThe purpose of this thread is more of a reflection and for others that are struggling, the path of success can be a long and painful road, however it is worth it. Comments and questions are welcomed. I would ask we are all adults and to be respectful to each other. Shall we begin? .Ignored
Disliked{quote} it depends. if you want to live a humble life in a cold place where everything is expensive, then I would say $50-100k.Ignored
Disliked{quote} For an intra-day basis look at an hourly chart. The sentiment i am concerned on a has to do with institutions activity, retails does not move prices it is institutional that do. In the hourly chart below you see the engulfing candle that is larger by all the other candlesticks. Dialing down to a 15 minute chart we see that throughout this hrly candle institutional buyers were in force. I always start with a small position because I have been wrong in the past and will be wrong in the future so that way if things do not work out, I exit with...Ignored
Disliked{quote} Let me expand how I view intraday sentiment. Using a combination of things: First I am looking at major fundamental news worthy events of the day. Review the information and get am idea of what the street is expecting. Once the news breaks compare the actual to the forecast, prior and how that numbers falls within that range vs. what the street was expecting. I will wait usually anywhere from 15-60 minutes to see price behavior. I look at currecncy index charts (I klnow sonmeone will ask so here is the site: https://www.mataf.net/en/forex/tools...-index#c_index....Ignored
Disliked{quote} well we are at the mercy of the market.. I think it's very important to keep expectations as low as possible and be prepared for the worst scenario. I would also keep other sources of income.Ignored
QuoteDislikedI always start with a small position because I have been wrong in the past and will be wrong in the future so that way if things do not work out, I exit with a small loss, however if the trend continues, I will add to the position (as much as 10 - 15 times) as that trend is unfolding. Its called pyramiding or stacking which is not a new concept however even with some small loses, my winners can be 10,20 or 50 fold.
Disliked{quote} I make enough to go to the movies and get the extra large popcorn with extra butter which cost .50 moreIgnored
DislikedI assume you trade order flow and use footprint indicators? I'm a big fan of engulfing candles but I've found different brokers to show visually different candles for the same time. That's why pin bars, doji's etc. are not reliable.Ignored
DislikedHow much minimum one need to make a living out of Fx trading? Please be specific only in numbers.Ignored
Disliked{quote} 18 years of trading experience is something that's extremely great. I'd like to know about how you could survive. and... have you managed to trade for a living?Ignored
Disliked{quote} Ok thanks for your example. I think the concept is very general, because when we see a big candle, it is what it is, a big candle in some direction, already happened, people, institutions or whatever is the driver already participated. And we have the future that is still in the empty space to the right and carries uncertainty. I want to ask a few things that interest me. First - how does the observing of the chart and the candles carry information regarding future unfolding of price action, which of course has to be in our favor mostly...Ignored
Disliked{quote} What strategy do you use in pyramiding? What is the ratio of the new positions to the initial one, how far do you stack your pyramids from each other? And what exactly gives you the confidence that the trend in question, at that point, is most likely to continue?Ignored