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Shorter time frame in my opinion may not work because the shorter the time frame, the likelihood of your stop or exit get hit by noise increase. Within noise, prices are distributed in a Gaussian way. Assuming a 1+ reward/risk ratio, the probability of winning will decrease. Outcome will be...

I like technical analysis but I am just sick of all those MA, MACD, stochastic, and all other technical indicators derived from price. Sometime it make me wonder how some people trade with all those neon lines on their screen.

I think the coin toss strategy should work. The hard part is figure out the ATR and where to place the stop loss. In order for this to work, expected reward needs to exceed expected risk at all time, which is what make it tough, since most trader would force a good reward/risk ratio and...

I understand I should forget about all the emotions and just focus on the process, but it has been difficult, since I never really found the right set-up. That was why I tried using random entry before. It worked a lot better than my discretionary trading. However, it still wasn't a...

-49.96 Stop loss placement was poor. After price hit my stop loss, it shot up.

-54

-56 It takes 3 days to make a winning trade, but it just take a few hours to make a losing trade.

+74.13 Real money. Waited 3 days for it.

I hope so. I am long the yen! I don't think government could do much anyway. If the yen have to go up, it will go up.

I have no clue and I wanted to find out as well. He mentioned in his past posting that he average down. I hope everything is okay with him and that he is still making good money.

Qwerty, I already feel that I am in debt to you for your insight from your postings on price action and how you explain it with charts and metaphor--battle between bulls and bears. Your mentorship is much appreciated, but I really would not know how I will be able to repay you for it. PA

I have been reading journals from both ET and ForexFactory. I especially enjoy the one started by Neke in here. There are a lot of other journals I read, but some of them seem to be too good to be true. I saw this guy pulling in pips days after days. Anyway, I will continue to read...

Hi Qwerty, Thank you for offering your help. I understand that trading is a personal journey, so I will continue this journey alone. However, I definitely would appreciate your feed backs and any pointers that you can give. Thanks!

Last confession: I accept the fact that I am horrible at trading. I will now only trade when there is a strong trend. This will be my very last attempt before I quit.

I totally understand that and I am a true believer in this. I think Mark Douglas has mentioned this in his book, but in finding the setups with the right combination of winning probability and average dollar winning to give a positive expectancy would be a difficult and confusing task for me. PA

I agree. I hope that one day I get to see him in person.....and ask him to give me back my money. :P

Thank you Big Money. I appreciate your advices, but unfortunately I am not smart (as you can tell), and I am very confused. However, your post has inspired me to pursue 2 journeys: 1) To truly understand price actions instead of just recognizing patterns 2) To find out how pit traders...

The Last Dragon by Dwight David http://www.youtube.com/watch?v=0u3U6M9HpPM&feature=related Take life one day at a time That's what a wise man said to me. He said, "Life, in all it's complexity Is the ultimate test for you and me." When you walk holding your head up high For the...

I don't think it means too much. It's just something objective that HR use to cover their behinds when they recommend their hiring decisions. It's an interesting little test though and I do enjoy a little ego boost.

Thanks! I actually started a trading plan a week ago, but I haven't finish it yet. It consist of money management, reward-to-risk ratio, and entry strategy, but I think the entry section need more work. Also, I need to create a "setups to avoid" section so I wouldn't make the same mistake...