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Well, my friend, I don't consider myself a pro yet, and I can only speak for myself. I doubt that ES would consider himself a pro, however, if you believe his results, I'd say he's probably one of the many consistent traders on here that uses Oanda.

I think the lack of feel good fuzzy bunny colors does not in any way shape or form outweigh their numerous benefits.

I think that's very good advice... nice...

I can relate to what you're saying because my mentor who got me started in trading says the same thing. I asked him the other day, "Dude, you make good money trading before work every day, then you come in. You don't need to come to work, but you do for "extra income to pay the bills." What...

You are correct. Nothing wrong with swing trading. I swing trade as my primary vehicle -- and I do some limited price action-based day trading... My advice is to understand who you are. Know thyself. Then once you figure out how your personality is, figure out how you'd like to trade...

Just to add to this post re: 3K loss claims -- that's if your trades aren't wash sales. If you are a non-day trader (as defined by the IRS), and if you lost money on XYZ, then immediately bought it and sold it again within 30 days, you cannot claim the loss. That's considered a wash.

So I guess I have a slight issue with the idea of sweeping profits out on a regular basis, provided that you have not built your account up to a certain, "comfort" level. That comfort level is relative. But doesn't it make sense to compound the heck out of it? I mean, if you have a plan...

Welcome to ET... 1. Always use stops (not mental stops) 2. Risk no more than 1-3% on a single trade 3. Realize and accept the fact that you will lose money (I am wrong), and that your winners (I am right) don't make you invincible. 4. Resist the urge to use more margin after a big win...

Osorico, I like this approach. Let me ask you -- when you say, "specialty account", what do you mean? Just another trading style or a new cool strategy style that you're trying out? That way if you make money with it it's kinda like a bonus?

Jessie... Thomas Stridsman has a book called, Tradings Systems That Work: Building and Evaluating Effective Trading Systems, that's pretty much considered the Bible in systems development. I have not, however, read it, but this is what I'm told on some other forums that I frequent...

Great post skier.

The EUR/JPY (or any yen pair) is looking awfully nice tonight because of the volatility... A refreshing change to normally boring hours watching flags and pennants form... :)

Man daytrdr, you hit the nail with your last statement... :) A better question might be, how long did you compound before you started taking money out... For example: You start with 50K... at what point do you start taking some cash from your account? When your capital hits 150K-200K and...

I would remove dollar amounts. Focus on executing your plan flawlessly. The profits will come.

If you can place a BUY order for 5 lots of the EUR/JPY pair, place a stop at say, oh, 25-30 pips (which gives you room for bull/bear wiggle on a 30 minute chart), and then subsequently watch it get stopped out for an $1100 loss and do that five or six times in a row, and you are emotionless...

I wouldn't say nothing else is important, but TinZ is the Bible of psychology and trading. I've got van Tharp's Financial Freedom and I also have Trading for a Living by another author, and their good books, but they really just pinpoint the key element of successful trading and that's...

Nothing wrong with that.

I trade because of the hot chicks.

The most important book you'll ever buy: Trading in the Zone by Mark Douglas ISBN: 0735201447

I swing trade and am doing ok... For those pairs that trend nicely it does... Anything that doesn't move more than 25-30 pips in any direction within 30 minutes is a darn good candidate...