Recent content by FXPimp

I learned from sitting right beside the owner/head trader of a prop firm. In the 2 years I was there, the blowout rate ranged from 50%-70%. So a prop firm is no guarantee, but finding the right training drastically improves your chances of success.

seminar training has about a 0.001% of creating successful traders. you have 2 options... either learn it yourself through trial and error (and get your info from the internet and bookstore) or go to a prop firm and sit next to a trader that actually makes money.

its doable. ive been trading successfully for quite a few years now. its no easy task and has a very high failure rate, but it you give yourself enough time to succeed and can manage your risk properly, then you can have a shot at it.

Just make sure any managed accounts are done with an NFA registered firm.

too much leverage is the #1 killer of retail forex accounts. they should cut the max leverage to 20:1 on majors. Its all smoke and mirrors that trick newbies into thinking a ton of leverage is a good thing.

fxstreet.com

Dont trade live until you are making money on sim. London and NYC sessions are good for intraday. When you do go live, use low leverage and take it slow. Remember trading is a marathon, not a sprint. Good luck and welcome.

Move to Chicago or NYC. Not going to find any rock star traders at Bradley's!

Great quote!

If you are a new trader, then i recommend fx, but do your homework and get a good currenex account. the retail platforms in fx are not very good for intraday trading. if you are a swing trader, then retail platforms are fine

yes. but leverage should only be used if you are already a consistent trader. otherwise it can dangerous. If you can make money on 1:1, then adding leverage should increase the money you make. good luck

You are a tough customer. 15% return/month is very, very good in the managed world. Remember, that on a 100:1 account that is 150% return/month. Fund managers dont go for the home run anyway, they just plug away. And truthfully, no funds want to show a huge number in a month like 50%. It...

Incorrect. Every day and every month are not the same. If a fund manager normally trades approximately X size, there will be occasions where volatility and potentially profitability may dramatically increase to the point where the manager may trade 2X size. Instead of using more "real"...

20-25% is not unreasonable for a professional trader. Managed funds are never going to consistently return those kind of profits because its not their gameplan to. A few percent here and there on millions is their only strategy. As for my own experience, I used to make about 25-50% annually...

Nice list, Oddtrader. Jack jones, adding to a loser is generally frowned upon. Very rare circumstances may apply, for example, manager gets long at a price a little higher than he wanted, but did not want to miss the trade, price moves lower (but not past stop loss), manager buys more at...