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In the short term, yes. In the long term, no. But I also know that my system over X period of time has X% drawdown and I know that I will take some losses where I may cumulatively lose 10% of my account, but the next three trades I'll make 30%, for example. I just trust my system through...

I've been demo'ing with Oanda and just opened an account with them. No minimums (I just opened a $500 test account), no fixed lot sizes (you can trade 1 unit to whatever), nice pip spreads, no commissions, and interest calculated by second. Doesn't get much better than that.

Yes. Because I expect to have big drawdowns sometimes. It's all about being able to accept my losses. I don't need to be worry about losses, because 40% of the time I win, and when I do, my homeruns offset those losses...

BTW... sorry for hijacking your thread... :)

I didn't purchase his first book, TDT... is it worth the read if you've already read the Zone?

I'd even go as far as to say that this is the mantra that all beginners should recite when they start trading... Post this one up right alongside the Mark Douglas quotes... :cool:

I'm trading EUR/JPY... how is that pair when it comes to interest? I bet it has. How else has it changed?

Electric, I have backtested by equities swing trading strategy on a pair in currencies and it's looking pretty good... I'm learning more about the Forex market... can you elaborate on the whole interest thing? So are you saying that you make some cash holding it overnight?

Chris, I've found that it's important to figure out who you are in regards to your trading strategy. Are you the type who needs instant gratification, or are you patient and can handle being in a trade for a few days? I'm the latter, so I started with a swing trading strategy that I...

I would not trade, let alone swing trade, without enough to get past the PDT rule... (25K) For example, my broker, Tradestation, requires a 5K minimum, so that's 30K minimum for a PDT account right there. I'd add another 5K for padding when you lose, and that brings you to 35K that you need...

Exactly. Unfortunately, I have yet to hit that "constant" return phase... LOL.

I agree. I believe in just letting them compound. I have a full-time job, and I automate my systems, so...

I couldn't agree more. I trade a very very simple strategy. Being a trend follower, I have no problem letting it ride until my strategy signals me to get out and reverse. I'm in the markets ~98.6% of the time and I'm currently sim trading a trend following strategy on a currency pair using...

Your head is messed up because you can't let go of pride. Let it go. Become humbled. Trust your system. If you are afraid of taking losses, then you have issues with being wrong, which is related to being prideful, or you don't trust your system, because if you trusted your system, then you'd...

When I'm having a bad day on the market, and it feels like the market specialist is just there to trigger my stop, I just remember -- it takes 42 muscles to frown, but only 4 to pull the trigger of a decent sniper rifle.

Amen to that rider... the hardest thing for me to learn thus far is to set that badboy on automate, make sure that it entered the trade, walk away, and check once per bar interval or two (60 minutes)...

You hit the nail right on the head, except that at least IB and Tradestation have it coded in the system to not let you open that 4th trade... so you don't have to worry about being locked for 90 days. Anyway, I'm a swing trader... I get whipsawed, and have to exit a losing trade. That takes...

Folks, I've known this for awhile now. I'm fully aware it's public record. And that's exactly my point -- it shouldn't be. I've had this concern a looooong time now. Just because it's public record doesn't make it right in my opinion.

It should be illegal to see what other people paid for their house. It's not anybody's business what I paid for my house. Period. You should have to be a fully licensed appraiser to get that kind of data OR you should have to pay a pretty good fee to get this data at your local courthouse --...

Some brokers have built-in rules that will just reject your trade if you try to open a trade and it could be your 4th round trip. So even if you try, you can't. That's a good thing, because if you do open that 4th trade in 5 days, you can't trade for 90 days. Brokers know this and not coding...