- Search Forex Factory
- Xela replied Oct 20, 2015
I agree, even to the extent that if you see one advertised, it can't be profitable, because it wouldn't be for sale in that way, if it were. Many are marketed by people without the necessary skill-set even to determine whether or not they're ...
Trading systems - Never pay for one!
- Xela replied Oct 20, 2015
My approach is one of risk management. Patience, discipline, statistics, probability, education and practice (there are no productive short-cuts): taking only trades predicated by methods with a reliably proven edge, and with appropriate ...
Investing your bankroll
- Xela replied Oct 19, 2015
That one's me, near enough: I trade GBP/USD and/or EUR/USD for about 95% of my trades. I only need a decent prospect of taking 15 pips, to trade. I'll occasionally look at USD/CAD and USD/CHF if "mine" aren't moving, but when "mine" aren't moving, ...
Specialist or hot item? Which one do you choose and why?
- Xela replied Oct 19, 2015
Not yet, but it's in the pipeline. They've announced that they're preparing spot forex "Combines" but they haven't yet announced a starting-date for them. So, at the moment, for example, you can trade the nearest-month contract of "Euro FX (6E)" ...
How to trade Other People Money
- Xela replied Oct 19, 2015
We have rather different ideas of "worth it", I suspect, Daniel. The system I mentioned trades 100 times per week with a profit-factor of 3.2, as you can see from the figures above - but hey: if even that's "not worth it" for your ex-clients and ...
High Quality Trades Only
- Xela replied Oct 19, 2015
So you wouldn't be interested in a method with a reward-to-risk ratio of 0.8:1, with a target of 8 pips and a stop-loss of 10 pips, that trades 20 times a day and wins 80% of its trades, then? (I don't have one, but I certainly would, because it ...
High Quality Trades Only
- Xela replied Oct 19, 2015
That's pretty good going - sounds like you're well on the way? It is, especially if you select all your trading methods in accordance primarily with risk management rather than profit-maximisation.
Investing your bankroll
- Xela replied Oct 19, 2015
Your own broker can help, by explaining to you what their method is, and that's the only one that's helpful to you. This ought to be explained clearly somewhere on their site, but if it isn't, a quick email to their helpdesk or support staff, ...
Spread & stop orders
- Xela replied Oct 19, 2015
This company is interesting (I have no connection with them at all, but I know people who trade with their funds): url You do an online trading-test, on one of their demo accounts, and if successful, they set up a funded account for you to trade, ...
How to trade Other People Money
- Xela replied Oct 18, 2015
Normally a buy-stop order is triggered at the bid price and a sell-stop order at the ask price, regardless of the size of the sp-read. But this can actually vary from broker to broker, and is worth understanding clearly (especially in cases ...
Spread & stop orders
- Xela replied Oct 18, 2015
You can also look at the volumes of the corresponding, closest futures contract (they're very reliable and very closely correlated).
Things to look for when searching for high probability trades
- Xela replied Oct 17, 2015
You say you disagree with me, but actually you're making exactly the same point as me (just in slightly stronger language). As I stressed, above, highs and lows are objective and factual, while opens and closes are arbitrary and interpretative. The ...
Any online service that shows S/R lines?
- Xela replied Oct 16, 2015
Thanks, Jens - yes, you're quite right to say this. This forum seems on some issues to have its own vocabulary and definitions which are sometimes rather mismatched with those of the rest of the trading world.
Questions regarding very tight stops
- Xela replied Oct 16, 2015
Please excuse my being pedantic (if that's how I come across), here, but I suspect you're not really asking about "scalping" at all? "Scalping" refers to the high-frequency blitzing in and out of a market, typically with large position-sizing, to ...
Questions regarding very tight stops
- Xela replied Oct 16, 2015
"Slaughterbeck" entries (named after someone called Steve Slaughterbeck, as I remember) are a way of entering trades arising after Ross Hooks, in a very low-risk position. They're explained in Joe Ross's textbook "Trading The Ross Hook", over about ...
How To Trade With a Naked Chart
- Xela replied Oct 16, 2015
Why do you need clients, if you can make 5% per day? Allowing for 22 trading days in a month, if you can make 5% per day and compound it, then $1,000 will become almost $3,000 in a month and almost $4,000,000,000 in just one year.
5% per dayI don't ...
- Xela replied Oct 16, 2015
Yes, definitely. I wouldn't dream of letting anyone else do it. (Especially if they might use "calculations", "pivot points", "Camarilla equations", or even "kumo levels" to work them out. Those are all unnecessary guessing games on a pretty-much ...
Any online service that shows S/R lines?
- Xela replied Oct 16, 2015
They're not a "broker" at all, and they don't claim to be. They're certainly a genuine and well regulated spreadbetting firm, though. I see that there are widespread differing opinions of them to be found online, as is inevitably the case with ...
Brokers and slippages
- Xela replied Oct 16, 2015
This sounds very wise and sensible. To me, this sounds hugely disproportionate. My max drawdown is a tiny fraction of my annual profit target: it's a lot smaller than my monthly profit target. You've lost me, here: are you aiming to make from your ...
Investing your bankroll
- Xela replied Oct 16, 2015
I find the exact opposite. As so many others (including all the people who taught me, and the people who wrote the forex-trading textbooks I found so valuable and helpful) found, it was only when I (eventually) learned to abandon indicators and ...
How To Trade With a Naked Chart