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I agree. I just cant go without a stop. I make them wide but I do use them.

I agree. Backtesting will reveal much. The problem with profit targets is that they are basically an attempt to protect the future. This is of course impossible. Hence I base exits on technicals. The markets can tell you with resonable accuracy when to exit.

Dont scale. Taking losses on full positions and profits on partial positions skews the math against you. It becomes a game that over time you can not win. Exit a trade by going to a lower timeframe and looking for price to consolidate. Look for formation of short term support and resistance as...

Yes I make a living off of trading and Ibdid start with a small account. I did make some mistakes along the way. Now I work 4 hours a day live in a nice house and drive nice cars. Anyone who wants to trade for a living can succeed.

The CEO of apple said that making the iphone in the USA will add $60 to the price of the phone. He would know the numbers.

The licensing information will be on the website. You really can not go wrong if the site/firm is in the USA because they are not allowed to advertise for investors if they are not licensed. I do not know for sure but I think the EU has similiar regulations. The focus for you my friend should be...

I agree it is hard but I think most people lose money because they are not properly trained. I dont know how it could be done but I wonder what the numbers would like if we broke them down by traders that recieved some type of formal training and those that did not?

I dont think I am allowed to mention a specific site because of forum rules. Besides, I would not want to be accused of promoting. If you google "realestate investing crowdfunding" you will get quite a few results. Just make sure they are licensed. Ater that is more about the deal than the...

Actually it does not need much capital at all. Here in the USA we have something called title III which allows people to invest in realestate and other stuff for as little as a hundred dollars. Because commercial realestate is leveraged the cash on cash return is fantastic and so are the tax...

I agree practice and skill greatly reduce risk. I am glad that you discussed trading like a business, because it is. I have found very few businesses more profitable than trading with the exception of some commercial real estate ventures.

In my opinion robotic trading is less efficient than manual trading. The robotsnadvantages is that it can be there everyday all the time. It never calls in sick or takes time off. That consistency moves the numers in favor of some robots. The problem with the systems that I have seen is that...

If properly done it works in all markets. That was one of the things that started me in this direction. I was scalping oil and euros but my scalping strategy did not work on anything else. Thats a warning sign that I had curve fitted my strategy to market condition. A common thing to do, then...

No trade taken unless I can expect a profit equal to or better than 3 times my risk. This will also mathematically keep you out of contracting markets.

Consider this if you will. Price has been trading within a range. Lets just take a 30 tick range. Price tries to breakout to the long side but fails. It is reasonable to expect price to retrace back to at least the center of the chanel providing a profit opportunity. But if you are wrong a stop...

With regard to breakouts. They do one of three things. They fail. This may represent a profit opportunity but thats another discussion. The breakout takes off. The breakout punches thru a level then comes back to retest that level. Depending on market and trading style I like to wait for price...

People write books on that subject. Hopefully this post will not end up as long as one. Two of the things that I look at are volume and fundamentals. With regard to fundementals. Lets say that you are trading the ES. Later in the day the FOMC is scheduled to announce a rate decision. Due to low...

When I think edge I think of technique that skews the odds mathmatically in your favor. For example. I am a support and resistance guy. My trades are taken at a point where price is near a level and I see indications of a reversal. If I am correct my trade has room to run. If I am wrong it...

I made pretty good money trading Forex. The only thing that made me switch to futures was the schedule. I was trading 4 hour bars. That meant getting up every 4 hours to check the market. My wife called it feeding the baby.

When I was trading spot forex fulltime I looked into getting an office just to be around other people. All of my friends had real jobs during normal working hours. I ended up figuring that it was not worth the expense so when I needed a break I just hung out at Starbucks. When you look at my...

It took me a couple of years and a lot of hard work but it was worth every bit of it!