DislikedPrice acqually goes UP AND DOWN. May take 10 years to appreciate this.
King.Ignored
Got it now. I needed someone to tell me this .... thats why I've been losing for so long.
my first online test throw demo account :) 10 replies
MT4 sell stop order SL and TP changed after being placed-is it possible? 5 replies
Should I complain to my broker about stoploss being hit? 10 replies
DislikedI know, I should know better, but if you have been trading in forex/financial markets for about 10 yrs., and still way negative, then you better throw the towel, and say I am out...hasta la vista babyIgnored
DislikedI read a book a few years ago, the title escapes me, about knowing when to quit. If someone works a really shitty job, everyone will tell them to quit and move on. If after 10 years you haven’t succeeded at trading, then why would you want to hang on any longer?Ignored
Dislikedhttp://www.gamblersanonymous.org/
Once when I was a young engineer fresh out of school and I was at a new job, they put me out on a utility construction job as an inspector. It was in Stateline, Nevada and we were working in front of a casino that was right next to the road. Normal day, boring, until some drunk driver ran right through our construction zone and crashed through the plate glass front windows of the casino. Mayhem. None of our people outside were hurt, but when we went to look inside the casino, we saw that the car had...Ignored
Dislikedthe only unkown part is TP. But that could be solved only by drawing sup/res levels on the chart, and set them as the designated TP levels.Ignored
DislikedStatistically, the most TPs (by volume) are found within 10 pips of round numbers (00). Or at least that was the case with the sampled data in some Ossler study, the sample was taken from a major European bank and i believe was from 6-10 years ago.Ignored
DislikedIgnored
DislikedThe problem with your golden rule is that it takes only one mistake when you risk 100% of your account and you are out. Also if you are only making 2% it would take 50 trades (without compounding) to double it, where if you risk 2% and make 4%, it would only take 25. Since you can expose yourself less often the second scenario may have a better chance. But the bottom line is you need to have an edge. Without it, the only thing that the amount risked changes, is the time it would take to have no money left...Ignored
DislikedPRICE IS ALWAYS RETRACING.
A small SL is hit far more frequently than the RRR shows.Ignored
QuoteDislikedSo losses per trade occur much more frequently with a favorable reward risk ratio and over time wipes out an account with a 100% certainty.
QuoteDislikedIf the distance of the SL is much longer than the TP the win rate is so increased that it far outweighs the unfavorable RRR again, because, in forex price is always retracing.
QuoteDislikedThe one time risk of a wipe out using very wide SL pales against the astronomical possibility of doubling the account(s) before this.
QuoteDislikedRemember we trade probabilities in forex; price is always retracing!
QuoteDislikedI remain suspicious that it is acqually less than 5% of traders that have deciced that conventional wisdom is not for them.
King.
DislikedWhatever strategy used in trading forex, outcome depends on whether the take profit or stop loss is hit first. Some have better possibility than others but never without that inherent risk.Ignored
QuoteDislikedI maintain that all thing being equal a smaller stop loss to take profit will be hit far too frequently to offset the calculated reward risk ratio in a market that is retracing most of the time.
DislikedWhatever strategy used in trading forex, outcome depends on whether the take profit or stop loss is hit first. Some have better possibility than others but never without that inherent risk.
I maintain that all thing being equal a smaller stop loss to take profit will be hit far too frequently to offset the calculated reward risk ratio in a market that is retracing most of the time.
King.Ignored