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These people: http://www.financevisor.com/default.aspx?g=posts&t=179980 Have literally "hijacked" this thread.

If you want to risk 2% of your account per trade: RISK = 0.02 * ACCOUNT BALANCE RISK = STOP LOSS * POSITION SIZE Set your STOP LOSS and calculate your POSITION SIZE or Set your POSITION SIZE and calculate your STOP LOSS.

Time will tell...

You would prefer to deal with a deal desk broker? What kind of abuse?

:)

"One thing kids should be taught at a young age is that when someone belittles another person's words and dismisses him as a kook, an entertainer, or "not a serious person," it's usually a sign of fear, jealousy, or both. Intelligent, mature adults of goodwill do not dismiss opposing viewpoints...

ALL YOU NEED TO KNOW ABOUT TRADING * Price either goes up or down. * No one knows what will happen next. * Keep losses small and let winners run. * POSITION SIZE = RISK / STOP LOSS * The reason you entered has no bearing on the outcome of your trade. * You can control the size of your...

This begs the questions: Why do 95% of traders lose? Why can't most fund managers beat the index? Something is missing. Something is wrong.

Prove they are incorrect.

I agree with your last statement. Someone posted a chart showing how a method didn't work out so far today. They were trading the GBPUSD long, during the first Asian session of the week when the spreads are wide and the GBPUSD had gapped up.

Flattery? Not at all, cabletrader. Since you have a hard time understanding me, I thought using your own words would make it easier for you to understand my message. I see you have learned how to look up quotes and copy/paste, too. Good for you.

I called my broker and told him cabletrader said to execute trades when "great technical levels are hit in shorter time frames". He didn't share your view about trading on "great technical levels hit in shorter time frames." He wanted me to be more specific and give him an actual price.

Saying something is incorrect is not 'nuff said. You have to back up your claim with proof. Actually, cabletrader, you are the one who should give it a rest. I think people have had enough of your pompous, condescending attitude towards others.

Same thing happened with the EURUSD.

Price made a daily high and, uh hum, moved in the opposite direction, some may say "reversed", for over 40 pips.

Let's get this thread back on track. #2 and #3 are part of the EXPECTANCY formula so they should be grouped together. #5 is closely related. #1 trend exists only in the mind of the trader. #4 is a 20th Century trading strategy that never worked well.

Calling me names does not make it so, cabletrader. You have no evidence or proof. I sell t-shirts and you know that.

Price went to within 20 pips of the high and, uh hum, moved in the opposite direction (reversed) for over 50 pips.

I don't know about "predictable" but based on statistics, daily wick lengths of 20 pips or more occur over 66% of the time.

The chance that the upper wick (daily high - candle top) will be more than 20 pips in length is what I look to exploit for profit. Based on frequency distribution, this occurs over 66% of the time.