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Interesting thread. Averaging up could help here as you have the benefit of holding a larger position when a winner comes along.

Nice to see someone talking sense here.

Making one or a few trades per year works for fundamental traders like Jim Rogers. Not my thing, but I like to keep an eye out for those rare opportunities. e.g. if Oats hit 100 again I'm going to load up the boat and average down if it goes lower etc.

If you ask beginners/losers/retailers (usually one and the same) I suspect the majority would focus on entries. Afterall, they are following the typical advice given by trading gurus, trading books and internet forums which is more or less all about entries. Entries are in the past, exits are...

I was being sarcastic. I use POP's rules to great effect. The problem (just my opinion) that traders have with POP is that his 2 rules are open to implementation and it gives very little or no clues as to how to incorporate them into a trading strategy. You have to do the work yourself and to...

I like it when traders take that POP rubbish and throw it in the bin. IMHO that is where it belongs :)

For what it's worth I make good money trading CHARTS, not squiggley lines. FX is my bread and butter. Price is all you need. There is a lot of useful info in this thread but a lot of newbies are going to be lead on a wild goose chase. IMHO, all you need to know is written in the Schwagger...

I don't see why trading FX is any more difficult than trading an index. Prices go up, down, sideways, sometimes it trends, sometimes it's choppy, sometimes volatile, sometimes it's affected by news, sometimes not. There is nothing in an FX chart (and that is what you are trading) that you...

TraderNik, I have done this in the past but hated to miss out on so many trades that don't make it to your entry. Do you find that?

I would go with: 2. Noise is your friend, and your enemy. Never fight your friend, but fight your enemy. Nyse, would you agree that noise is your friend when it appears to most as their enemy and vice versa?

Very interesting interview. Worth a listen. http://www.pbs.org/moyers/journal/04032009/watch.html

With regards to risk, I would say that deciding where to place your stop when sizing up a trade and truely accepting the risk are two very different things.

OP, this is some good solid advice. Don't underestimate it.

Very good! I especially liked what was said about execution.

I skipped over most of the posts in this thread so no doubt someone else has already said what I am going to say. The shorter your timeframe the farther each trade starts in the red if you consider spread and commisions. Let's say you are trading a forex pair with a spread of 3 ticks and you...

Cramer.

lol :)

This kind of opportunity is very rare, it's like buying corn at 30 year lows around $1.50, there is around a 99.999% chance that it will not go to zero.

I think that your idea is not actually so bad however I would approach it differently. Can you identify a trading strategy that would lose consistently? For example, a bad strategy that should lose money would be (for long trades in an uptrending market) sell the retracement after it is well...

Nysestocks, thanks for the thread. I am enojying it! I will be honest and admit that I have no idea what the obvious is that you refer to. That said, I am making money. So I ask myself, perhaps I am doing the 'obvious' unwittingly and if I am then my percentage returns should roughly...