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No place for hope in this business. You got to know your method, all stats related to it. And make your risk as little as possible to make your equity curve optimal. Ultra-tight stops and "hope" for no pullback (which in reality means, that such a trader knows: it works better for him, than...

Will trade it on max leverage allowed by Oanda (50:1) adjusting position size depending on equity swings.

Here is the screenshot of that newly created account.

Copying the important update from my blog, which is related to this journal as well: "As said before, I decided to change the blog format a little, focus more on trading than continuous reporting of scalping trades (which has not much of a value for people anyway, because scalping decisions...

If that weekly wedge breaks to the downside, chances to see high 1.2000's do exist indeed. Looks good R/R long term trade to me.

You don't have to be able to precisely predict future price action to make money trading. Just put odds slightly in your favour.

Took +9 pips on that long.

Re-entered long @ 37.

Closed long for -2 pips, too choppy.

Opened long trade @ 1.4137.

Stopped out of short -3 pips.

Went short @ 1.4118.

Stopped out of short b/e.

Shorted @ 1.4115.

Our EURUSD scalping session starts in 15 minutes.

Because EUR/USD currency pair is the best instrument to day trade during the European hours, which suit my timezone the best. If I lived in the USA I would likely trade CL or maybe some stocks like RIMM... But for hours between 6-10AM GMT Euro is the best. European stocks you can't day...

1) I didn't have experience of betting all account on a single trade and losing on it, used to bet whole account on a single option trade back in 2005/6, but that was kind of sure rare opportunity caused by mispricing and it doesn't exist anymore. And I was still the loser as for outright...

Ha, cool! :D I posted that and previous trade here: http://www.cornixforex.com/2011/03/trade-examples-from-todays-session.html

Took profit of 7 pips.

Went short @ 1.4073.