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Yep, that shooting star on the AUD/JPY ended up being the high of the day, as expected. Nice call on the EUR/JPY too, TradingJournals. Right now I am watching the NZD/USD (30 min), seems to be ready for a serious take-off, take a look...

:D

And again, there is no such thing as a "good" trade. In fact, some of my best trades looked extremely bad right from the start. That said, a trader should never risk more than 2 to 5% of his capital on any given trade, no matter how "good" it appears to be. Trading is a marathon, not a sprint.

If you want certainty buy CDs from your local bank. And even that I am not so sure anymore, with all that shutdown/default talk.... You mean you are willing to risk 94% of your trading capital on a single trade?? :confused: Please no endless-going-nowhere lecture on the meaning of life, a...

That's still another Wall Street myth. A trader could lose money in the long run even if his Risk/Reward ratio is 1 to 100 (in other words he is "only" risking 1 unit to make 100 units). Take the Lottery for instance. You are "only" risking $1 to make millions (superb risk/reward ratio)...

There is no such thing as a "high probability" trade. You trade, you risk, period.

Yes, the famous Fixed Ratio money management system, popularized by Ryan Jones in his classic book "The Trading Game: Playing by the Numbers to Make Millions". But your trading system must have a positive mathematical expectancy to begin with, of course.

Nice shooting star at resistance level on the AUD/JPY (15 min), Bank of Japan Rate Decision due in a few hours, let's see...

That's true, backesting systems requires serious knowledge in computer programming. If you need 10-year's worth of historical Forex data (1 min time frame) you can download it here for free, for example...

Good point NoDoji. But letting profits run is the hardest thing to do for most traders, and this is truly what separates the men from the boys. In fact, most traders do the exact opposite : they let their losses run, instead, but cut their profits short! This crazy behavior is, of...

The truth, that I am a full-time Forex trader. If they ask "What the hell is Forex??" I tell them : "Well, buy me another drink and I'll tell you all about it..." Try it, you will get your free drink every time :p

Your question implies that you do not trade with clearly predefined rules. Your exit point MUST be dictated by your own back-tested trading system, that's the ONLY to trade. In fact the exit point is the most important element of a good trading system. Give me an exit point and I will make...

Just a few more minutes for the infamous FOMC report, get ready folks, Rock and Roll time! :p

Watch out, in the not so distant future these devices and technology could be used for mind control...

Even better than the Australian dollar, the EUR/JPY is about to go up any minute now, watch it carefully... :cool:

Oh Lord, why on earth do you want to go long, when the AUD/USD is clearly in downtrend mode? Personally I shorted the Australian dollar at 0.9550 (75 pip profit so far) and the position will be left open until the trend breaks.

I was talking about Actionzip54's comment, Kut2k2.

True, but that does not explain why most traders lose in the long run.

Oops, I almost forgot : http://www.youtube.com/watch?v=Oe0fGXzKb1o

Absolutely. And for every one of your post (intended to keep people ignorant), I will post 2 more eye-opening videos, fair enough? In my own words you say? Sure, here it is : qdeqdqajf tosfwejsad nkesdkesjsjs wefwelfsdfsdse, afwehasqvergsa! Hdwdlosn rakqkqpsaad grteunadkka kao simasowqas.