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Completely wrong. Both poker and trading are games of making hard decisions based on imperfect information. Both have multiple 'styles' that can be used to become profitable, despite being very different to each other. Both have the same steep psychological learning curve when it...

Many of the famous traders who have had exceptional returns have had several large drawdowns throughout their careers (eg. Soros)- you cannot make huge year on year returns without taking a large amount of risk. Obviously if you invested in their fund just before the drawdown you are in bad...

Good post. Are you live yet tycoon?

Excellent advice. Used in conjunction with S/R this is great.

Now I know why emg is always saying its impossible to make money trading..

psytrade is mostly right- there are many other careers that make good practice for trading. However, what makes poker such a good foundation is it is more directly comparable in terms of emotional swings in account equity and the skillset required is almost identical. In addition, if you...

lol pupu :p

If your stops are getting hit too often before the price goes straight to your target, then lower your bet size and increase your stop size by a large amount (2x). Forget having a high risk/reward (R). Most people who talk about high Rs all the time on forums usually can't make money from...

The fed are so far past the line now, everything is becoming acceptable. If the debt ceiling is not raised ad infinitum for the next 10 years at least I would be truly gobsmacked.

Maybe saying its not an option was a bit too strong and dramatic I agree. Look don't get me wrong I disagree with the western central bank policies, particularly the FEDs, totally. But I am a realist, unlike all the dreamers on here. Of course it is theoretically possibly for extreme...

Bernake just does what he has to do. It's pretty much his job to just say everything is ok, and at the first sign of trouble we will print more but make sure we are mindful of inflation etc. What do you expect the guy to do, seriously? The public would go ballistic if he implemented any...

Where to sell? I don't know where but I can tell you when- 5 to 10 years time minimum. Apocalyptic territory? Nonsense. Its just a bubble, stop trying to be clever and just look for a good place to get onboard.

Making money can't be this easy? Well without sounding too harsh- it isn't that easy because you aren't making any money. As others have said go live and you will see it is much harder when real money is on the line, especially large amounts! Go live, make plenty of mistakes and learn...

southamerica with his perma 'usd collapse next week' threads.. When is he going to realise that shifts like this often take decades to work through? If the dollar goes into another 30 year steady bear market like the last 30 years will you make money from it, or will you get shaken out on...

Most enter trading trying to get rich quick and either overtrade or bet too big. The hard reality of grinding up a business from scratch, taking lower risk for lower returns to begin with while you are still learning, does not appeal to most people..

Why does everyone seem to hate MCD so much here? Face it you couldn't live without them :D

Good to see an intelligent discussion about this sort of thing. As an observation Daal you seem to me making predictions for the coming year or so- shouldn't these sort of macro plays be held for much longer time periods if you are not using technical analysis for timing?

bearice is this supposed to be funny or something? Your recent campaign of non-stop spamming I mean.

Don't take this advice, unless it seems to fit your style of trading. Most traders I know who have a risk/reward (R) running at 3 lose money consistently. It will only work for you if your system is good at calling larger swings. If for example, you trade levels for quick bounces (like me)...

Buyers are pushing the euro higher. If you think the euro is going to collapse take a long term short position with little or no leverage and leave it for a few years. Otherwise join the long queue of failed traders who try to time the exact starting date of a huge macro-economic move..