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To be honest, I keep meaning to study options and learn how to work properly with them, but never get around to it. I just moved a bunch of money over to iTrade, a broker subsidiary of Scotiabank, in Canada who has approved options trading in my account. As soon as I get a chance, I'll look at...

I am hedged through other instruments. I have a long term long position in USD equities that still greatly exceed my current short USD position in my forex trading.

Yes, indeed, it is definitely a no-bainer. Now, try to profit from this in a way that is meaningful. That's the real challenge with this pair. Predicting eventual direction is rather easy. However, if you rely in this alone, there are probably better ways to invest your money. I'm well into...

Perhaps, if there were TRULY a way for them to prove their success. I could turn my $8K into 8 million, and I guarantee that each and every one of you will accuse me of doctoring my records. Ideally, we need a system where people can truly prove their track record while remaining fully...

True to a point, but it should only change your position size. The equivalent 10K loss is a $500 loss. However, I would agree that a 10K account limits your strategies and what you would choose to trade.

I would agree that winners won't feel the need to prove it to a bunch of nobodies on ET. Having said that, I think my choice to report my progress on my most recent journal thread actually improves my chances of success. It will help me to stick to my plan.

As I said, that's what I'm doing with my long term investments. The 8K trading account is just play money. I'm not up to seven figures yet, but by the sound of it, I'm younger than you. Even if I couch potatoed my current investments for the next 20 years, I'd be well into the 7 figures. By...

Thanks. Its a fun challenge, testing the 1%/day idea, but more importantly testing a theory about the USDCAD pair with real money that I can afford to lose.

You're confusing me. Who do you think you're responding to now. Yes, I do have a few trading accounts. The quantity of trades doesn't necessarily qualify you as a trader. I would suggest however, if your goal is around 10 to 12%/year, you might be better off putting you're money in a couch...

Perhaps, he can support his family. We don't know what other benefits he may receive like child benefits that we receive here in Canada. I think people are missing something here. There are those who just started trading who believe they can do 1%/day or more. These are dreamers. There are...

There are lots and lots of people with seven figure accounts, but they achieved this with investing. Investing is not trading. Are you an investor or a trader. This is after elitetrader you're posting on.

Ouch! Finished the week somewhat in the hole - an "unrealized" hole, but a hole nonetheless.

... of 50K? Pretty good return for the OP. 20K to 75K/year.

Awe man! Are you talking about my thread? https://www.elitetrader.com/et/threads/1-day-average-trading-usd-cad-over-the-next-year.302058/ Actually, I am very confident that 1%/day is very doable on small accounts when you're not depending on the money. I may lose it all; I may achieve my...

Wow, it will help with my ragweed (hay fever) allergy too? You mean I can eliminate the itching and sneezing and also be constantly pressuring my wife for a roll in the hay? Sounds like a plan.

The TRUE requirements of trading success .... You're not too bright man, but ya got some big round hairy cajones. (Speed, 1994)

Slow first day, but creeping forward. Would have been further ahead if I'd just held the first trade. Oh well, hindsight is always 20/20.

Oh come on. No need to be hard-on the op.

I hear your, Handle123. Many moons ago, I attempted to trade with a small $2000 account, convinced that I could get $2000/month out of that. I had no job. Fortunately, I also had no kids as well. Of course, I lost it all. I think I posted about it back in 2011(?)! OK, I'm laughing at my...