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When I went from trend trading daily charts to trading 1 min charts the biggest thing I had to get over was the impulse to hold a trade open. As soon as I started being happy with multiple small winners per day and forgot about the home runs I started making money. My average loss is still...

You're all heart ;-) @iamnewuser911 a lot depends on how you manage the outcome rather than the entry. That all looks like a big mess to me anyway, it's not clearly trending or a clear break one way or the other. That's a gambling setup to me. I'd be inclined to trade neither of those but if it...

a) Buy support in uptrends and sell resistance in down trends. Put your stop loss behind the last support or resistance you traded away from. Trail your stop behind minor pullbacks until you are stopped out. Keep your trades to 1% of your total balance, one trade at a time. That should get you...

Yes a lot of the shiftier ones will have "offices" in the US which if you went there would turn out to be a broom cupboard in the back of some mail forwarders.

I'm just trying out Oanda as I've been having a lot of slippage on my current broker. They offer spread betting accounts for UK customers so tax free and mt4 too as I code all my own trade management ea's and other useful indicators. The only thing I don't like so far is the position sizing. 0.1...

And not German in the slightest! Well, maybe a bit... ;-)

So would you say you're optimistic about the future then?

Fair enough, I didn't bother clicking the link.

I started out by getting information from forums and ended up a profitable trader. The information that helped me get there wasn't exclusively from forums but a lot of it was hence my post above. Trading is a lonely business, I still come to forums just to spend time with other like minded...

@wtfauoa your stubbornness in insisting on only considering one instrument does not make sense as @Xela quite rightly says. I day trade the dax and would never even touch a US index. It's what you're used to I suppose but starting out with the wrong instrument could well set you back a long time...

@WSWarrior don't dismiss the information on public trading forums too quickly, there is a lot of golden information available for free out there. Of course a lot of it is rubbish but if you apply a bit of savvy you should be able to tell the difference between the two. Something that helped me...

I agree with the above but only to a degree. To my mind trend is the overall movement of the market and momentum is the individual up and down moves that make up that trend. If you look at any chart you can usually identify the highs and lows and the moves in between those highs and lows are the...

@comagnum they're not trendlines, they're an example of something the name of which escapes me at the moment. Not worth bothering with anyway, as if the market cares about random lines on a chart?! @NickLv that all looks pretty on a chart but not worth much in trading. It may well go down but...

Well I think I did a bit of both ;-) . Could you not just short the index ETF? Or maybe think about other markets such as gold or forex? Agreed I think the dow and probably global stocks in general are likely to decline in the next few months but that will have repercussions in other markets.

If it's all going down why not just select a basket and short the lot? Or if you're asking for investment/gambling advice on a forum why not give the money to a charity and paper trade your bets. At least the money would go to a better place.

Absolute markets as opposed to relative markets such as forex do tend to fall faster than they rise. Is there any advantage for a short term, say 1 min or 5 min chart trader to only look to sell these markets? If you're looking to improve the probability of your trades would this help?

@Zodiac4u agreed that trading is as simple as the trader makes it and can be done simply and yet still profitably but certain traders will always find it easier to add those extra layers of analysis. If that's what they need and it indeed does work for them then I say good luck to them. The...

Good points above. You know already it's hard to profit with smaller winners than losers (generally speaking but not necessarily so as always). Perhaps lowering your position size so that the fear of taking your initial stop is minimal and the thought of holding longer is less painful could...

I don't know much about options but if it's about holding a trade longer then I find mechanical exits to be quite useful. I will quite often take profit sooner, say when price meets a pre defined target such as a s/r level that I am watching but if I fail to take profit at that level and the...

Agreed the price went up eventually but my trade south worked out first, bounced almost exactly at Fridays low (on my broker) so would have been an easy 30 pip trade in the morning. I trade at £10 a pip so £300 in the morning then relax for the rest of the day would have done me. Don't care so...