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Exposure to force majeure risk. Everybody would use high leverage if it was as easy as setting and forgetting a stoploss order. :cool: Quick example with easy round numbers: with a normal stop level of -1% of the instrument, maybe the worst slippage encountered is say net -1.5%. On 10:1...

That goes for most "courses" and "coaching" I've seen as well; if you can't do it, teach it. :p The only book exception that comes to my mind is trading psychology as opposed to systems, say Trading in the Zone by Mark Douglas. Take out the 20% of poorly expressed metaphysical weirdery and the...

Yikes, I considered getting up for the London open in my Forex days; too early for me. I think I'd rather switch to a longer timeframe than get up any earlier than 5am. :eek: Or, look at Asia after supper maybe.

Just to clarify: me neither. :) I was just adressing Pigsky's notion of starting capital: if you define "starting" as all-or-nothing (which is naïve to say the least) then you need a lot but if it starts organically as a hobby, I see no real minimum. (Well, except US$25K+cushion if you're in...

Am I the only one who sees that as a positive? I'd much rather learn market behavior itself (i.e. Wyckoff, Andrews) which is somewhat timeless albeit less exciting, than spend energy on ECN execution flaws which by their very nature won't last very long. Easy money would be nice, sure, but I'm...

My $0.02, if the guy's clearly not coming around, why not click "Ignore" instead of fueling the fire and lengthening the less useful portion of this thread? :)

At the risk of going off-topic (this thread went South since around page 8 anyway), but just in case you're still following here, be careful about using a TFSA for trading, especially day trading! Even though the law doesn't explicitly forbid anything in a TFSA, recently Harper's been auditing...

Can be if you're emotionally distant from it. ...that is, once you overcome the "nah, come to think of it I wouldn't have taken that one for real" phase. :p

Since the whole CHF thing, I've been re-evaluating my risk tolerance personally. For example, yes normally there's no big surprise and you can plan on, say, being at worst screwed by 1-2% of the underlying instrument on unexpected news. Sure an index is less vulnerable than a single stock or...

I used to know one back in 2003, although I don't know how modest his means may have been earlier on. He liked scalping near the opens for $3-5K most mornings. Sometimes he'd be done before 10:00 (Eastern). I think he played golf in the afternoons. :) I agree with most comments here that...

Wow, I guess it depends on the business! (See below.) Man, I really must've been in the wrong business, or have sucked at managing it. ;) For me, having been an entrepreneur in a services sector, I couldn't grow to the point of "mostly supervising" and remained stuck in the front line with...

While we don't know that levitation per se is at all possible, we do know of the existence of successful traders, so I don't think it's a fair comparison. o_O We both are making the same point about quality of life however: for some, the effort required to become a successful trader may be too...

In any endeavour at all, not just trading, you hear the same kinds of comments. Unless the person has an insurmountable fundamental flaw (i.e. I'm 5'3", so forget about basketball), I've grown to think that perseverence invariably leads to success. 10,000 hours is just a ballpark. Maybe...

...but now we know that they just move the 10% of traders which are profitable onto their A-Book and hedge them, so it doesn't seem to me like profitable traders pose a threat. If anything, the more money the broker makes with B-Booking, the less they need to make money in other ways, so it...

I don't know about those. Forex and CFD market makers don't have to show us proof of anything more than what transpired directly in our account, no counterparty or exchange disclosure. Now that's interesting. On one hand, you're likely to get faster entry stop/market executions, with less or...

Fascinating! I always wondered how much of their clientèle the market maker shops actually hedged in underlying markets. A quick Google search reveals Currenex and R3 Analytics as two big such firms. Neither of them appears to be "shady" about the fact that they help sort retail traders this...

Just FYI, unlike Dukascopy which is making a graceful (and presumably expensive) gesture here to preserve retail trader confidence, market makers like Oanda, FxPro and FXCM have forgiven negative balances because their user agreements say so explicitly. Oanda - Point 15 (also seen in USA and...