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I think a professional trader is someone who can make money from the markets, which is what a firm hires you to do or what you as a sole proprietor can make a living doing. If you have a profitable track record and fit with a fund's objectives, nobody's going to make a big deal if you can't...

The problem these days is that institutions want people with sharp math skills in order to kill it with derivatives (esp. options), which have become a critical money maker. Does that mean you need to know math or programming to successfully trade? Absolutely not. Ask any of the traders here...

Very interesting, thank you for the insight. So I guess you just go back in time from today till you can find 100 setups, and then test it on the last three months' data. Makes sense. I'm trying to find the sweet spot between testing too large of a sample and too small. Do you have a ranking...

@NoDoji I've been meaning to ask you, how many samples do you usually test and more important, how large of a period of time do you cover with your tests? Reason I'm asking is because I'm also a price action trader and am involved in a major price action testing project of my own right now. I...

Yes, there are naysayers on ET that give people a hard time for no good reason. One of my favorites is "It's impossible to day trade for a living". But there are also scores of arrogant SOBs who love to rub it into people's faces as well. Neither are pleasant characters to run into...

I don't understand one thing ES Shooter, if you're doing so well why do you need to come here and tell everybody about it like you're something special? I don't understand people who come to brag about their trading, especially to people who don't know them and can't verify what they're doing...

It's the only job where you can make money without worrying about somebody else's opinion. Your only limit is you, not someone else's perception of you. There is absolutely no other profession in the world that permits this. I find that aspect alone maximally fascinating. There are other...

Totally agreed. I started messing with FX in 2009 when everything was running crazy. 150 pips on EUR/USD for the New York-London overlap was not uncommon. Now the ATR is about half of what it was when I started. I gave up trying to scalp EUR/USD and switched to ES. It's easier to day trade...

The best one in my view is Currency Trading for Dummies. A third of the price and three times more useful than 90% of FX books out there. I also like Bob Volman's Forex Price Action Scalping, if you're into short term intraday trading on EUR/USD. Everything else you can find online for...

I only traded the cash market, and frankly I don't know what advantages 6E offers unless you also trade futures and you'd rather keep your account with one broker. I'd trade cash because the ability to have easily scalable contract size is awesome. With 6E you're stuck with the standard emini...

Bob, I would argue that there are definitely downsides to using too large a sample when testing. The main concepts I intend to use are simple things like breakouts and pullbacks, and the idea is to be iterative about it, constantly reviewing them as market conditions evolve. Whatsmore, not...

The idea is to find people similar to me who are committed to trading and will be using these patterns in the live market together with me. In other words, I'm not looking for minions but actual traders, people who will co-brainstorm, offer feedback, etc. I'm thinking of back-testing the old...

Hello all, I'm thinking of getting one or two or more people together to do some back testing and market study. My question is has anyone done this before, has it been helpful, and what hints do you have to do this effectively? I would obviously assume you'd want to find people who think...

I'm familiar with statistical analysis techniques but the problem is that I'm finding it pretty difficult to accurately back-test the ideas that I trade off of since they are based on pure price action (no indicators or easily programmable stuff). Any ideas on how to optimally accomplish...

Hm. You've given me something to think about, I didn't consider the outlier factor as carefully and the fact that they can wash themselves out. My initial target was to eek out 1 pt for a long term average daily expected value, and get that up to 2 pts once I get good at the game...

Yes, I've seen that happen already :) To my way of thinking a statistically valid setup should always be traded even if that means you can end up down at the end of the day. The idea here is that long run you should end up more up if you take those setups. It appears the main challenge...

Thank you Austinp! I totally see what you're saying about crude, I have gotten murdered trading it lately while beforehand I was making a killing (in demo mode) trading countertrend moves off of it. I guess everything goes through its cycles, I remember how un-tradable the EUR/USD was last...

Hello all, I'm currently planning to tackle the TopStepTrader combine and wanted to get some advice from experienced ES traders on how to best put together my trading plan. I spent a lot of time breaking my head at trading FX intraday, but I found ES and CL to be a much better read for me...

If you are a US citizen you must report your income no matter where you made it, unless you live abroad and qualify for an exemption (I believe the income has to be less than $86,000 and you can only set foot in the USA for no more than 10 days). That's after you've paid the local taxes. It's...

I listened to Apiary Fund's online web information session. Here's basically the scoop: 1. It's a remote FX trading arcade. They say that if you work up a track record with them you can manage up to $250K of capital. 2. The basic deal is you pay $1000 for training plus a $97 a month...