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It helps to have a plan. I was running 3 of my 5 strategies yesterday: 2 are intra-day and 1 is long-term. The long-term strategy is a Dow long play, with pyramiding so this will run until all the positions are stopped out. Although the index has fallen back from its high, I'm not going to...

Its an understandable error in thinking. Traders are faced with uncertainty. They need to make decisions with limited information: some of it is contradictory. They look at their previous or non-trading experience for guidance - success in various fields comes from knowing more and more detail...

Sounds like maybe you know too much. You're not worried by any chance?............

So that's what they told you? OK.......

Does sometimes consistency count?

On forums I am trying more and more to post in a more reflective style and tone. So instead of saying, I do this / Your ideas are cr@p / You should do this / Don't ever do that, I'm trying to ask questions and get people to talk about what they're doing and where they are. Even if I don't...

So, after all this time to reflect, have you found out how your friends selected these stocks? And why they took the tips they got?

I just can't read any more books by this big-headed d1ck. He might be a good economist but as an author who wants to sell another book to me, he's sh1t, I will never read another word he has to say. I got it the first time round, after that he's just waving his d1ck around.

I've noticed this with the FTSE100 too (I'm in the UK). Its schizophrenic intraday - it can be madly bullish all morning but when US futures start to be quoted before the NYSE opens, the FTSE becomes a little lamb and just trails it around. Holding the FTSE across the NY open is a pure gamble.

Do you find the US major indices give a lead for the DAX? Or maybe the other way round?

Maybe nobody needs more than one good idea. Maybe it doesn't have to ne original. But I found Taleb's self-referential egotistical style more and more annoying to the point where I can't any longer read him.

All strategies I have tried and still use for trading indices and forex have depended purely on TA, none have been based on any FA or news during the development / planning stage. When you boil it down, if your profit depends on price rising, then you need to be in an uptrend. There are two...

Maybe he is a great human being - he still might not be able to trade the GBP/USD.

Actually, the firm I trade through is required by the regulator here in the UK to publish their loss-making clients percentage: this is currently 80%. the other firms in the sector generally publish numbers in the 70-80% bracket. The number might be different in e.g. the US, where market access...

Why shouldn't a certain corporation have the right to support the politics which is good for their business?

For short-term work any pair will do but preferably one of the majors so that spread is narrow. On the longer multi-day time-frame, if I had to pick one pair it wouldn't be a pair it would be the Dow - I can spreadbet the Dow itself from the UK. It seems that most forex pairs are correlated...

Get a demo account and practice until you're consistent. Set stop-losses to put no more than 1% of your account at risk if its hit. Avoid very tight time-frames and fixed pip stops.

Well, sure, but he knows his friends are making money and he doesn't know any such thing abut anybody on ET.

Isn't there some irony here? So many people - who are other traders - are saying, "Don't ever listen to other traders........"?

Don't ignore your losses. Even if they were just the down-side of your strategy's win rate, you still need to check you followed your own rules and procedures. As far as revising your strategy is concerned, there is more monetary potential in dissecting your winners.