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There are two common ways to do risk management - hedge (using stop loss) and diversification (by forming a portfolio)

A losing trade can't be considered successful unless you're still trying to find out something. You are saying this because your system does not incorporate market volatility . Market volatility tells you whether the current trend is continuing or not, giving you exit signal.

Your thought process going into a trade -> need to know what drives the market quality, and they are the market liquidity and market volatility. Rule1) Any system that did not take into account these two, will generate inconsistent results. And the risk management will complement your system -...

Better not give him false hope...even yourself don't know how to trade on FX, Mr. Broker

The commodity looks like it has done its volatility on the monthly chart, so it is currently waiting for the dominant trend to come. Looking at monthly chart, there is possibility it will fall again when it crosses 3.7 (and Wintergasp, he will buy here). so let's just wait for the double bottom...

loser... nobody will bid higher. It's called winner's curse in auction market

what is swing trade? Does swing trade work in FX? because I remember a guy who ran a journal on ET with demo earlier this year, he said he strategy is the swing trade but his overall position was negative.

are you talking about the non-dominant trend? non-dominant trend has no trend and thus, has some random shape so you wait for the dominant trend to come and they come like a storm. No animal can describe its form because it comes in the form of wind, storm or volcano

I know a trader who call himself a master of forex trading. He has been trading for 7years. He knows nothing about risk management except for setting stop loss. He heavily relies on multiple indicators and chart patterns. He tutors his skills and raise his capital that way. Sometimes he makes...

Look for her - the dominant trend , that's the only thing I look for . Since you want the answer at beginners' level, look for and study head and shoulder pattern/double bottom(or top). But still, ... You better quit real trading because without a proven system, you will waste your time and...

Self discipline and risk management complement your system but on the top of them, one needs to FIRST know when THEY ("the dominant trend") are coming. And without academic research experience, the life in Forex will be very difficult.

Xela, I am a little bit surprised that you only talk about volume for trading even though you've done academic research...because it sounds like you haven't really applied what you've found from your research to your trading ...or perhaps your research wasn't related to derivative or stock market.

If I were not an academic researcher, I would pay more attention to what ljyoung is saying because this is what most of traders talk about. Trendline, subjective volume trendline analysis, all seem relatively easier to understand and do even though it is proven that heuristic strategy generates...

Sir, 60 min time frame is riskier than using higher time frames, so does your strategy generate reliable and greater income?? (is NPV is positive? since your strategy has a fixed system). There is a trader who uses 4 hour time frame and she has lost ($60,000) in the past 6 years so far...so I am...

Sir but without chart illustration it is not clear to understand...anyway, how do you identify whether a rally or new trend (reversal)? what indicator or proxy do we need to use to identify that? because everyday currency pair moves differently and since you're talking about crossover, Yen's...

can you please show how you do this with a chart? I can find out whether there is a rally or trend by observing its volatility pattern. Rally has mantis shape whereas trend has queen ant shape. Rally - Trend

you've got a point sir, but my understanding is without backtesting you strategy remains unproven sir ...

I find price action unreliable. One day it works perfectly and another you lose all you gained from the price action. Isn't developed by Casino?? because that's their typical strategy to make money Sir :) As an academic researcher, I simply use volatility measure, order flow and...

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You're right. In other words, if you don't understand how market system works, you're basically gambling there. One big jackpot winner and lose twice much that later.