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A paraphrase from one of the market wizard interviews was that in the past, successful trading was 75% analysis and 25% execution; nowadays, timing has become 75% and prognostication 25%. There's also the truism (that applies more to longer term/macro trading rather than scalping) that these...

Good points. But I'd say biggest risk = possibility all of the above has been discounted. Or do we need "Inflation -- RIP" on the cover of Time before the turn?

Pullbacks that in retrospect were just gamed by the "powers that be" look not much different in the beginning from pullbacks that turn into big reversals. That's the idea I guess; you'll just need to find a consistent method that matches your reasoning for entry and gives enough room for your...

But seriously, why not ask for a system (simple or not) that nets 20, 30, 50 pts a day -- why not go for the best? You are "settling" for 10 pts/day based on what criteria? The amount of effort you plan on putting into this? Just curious, good luck!

GBP/JPY chart a little scary tho . . .

This is not much different than wondering if you could join a roster in an NBA franchise by learning how to play basketball in your spare time, not necessarily a championship team or even a division leader but would "settle" for any squad that at least had a winning record on average for the...

Looks interesting, just popped it in my cart, thx. I've always found you can learn alot more about trading from books that aren't about trading.

That's exactly what they do, those buying in size need to be buying when the selling is strongest. Only the difference is, buyers are using falling price momentum to their advantage and letting sellers come to them.

A single institution will absorb panic liquidation by a 100 retail traders like a sponge on a drop of water. The trader that slips in during the panic profits off the subsequent vaccuum/whipsaw that follows.

If you're playing for an intermediate or long-term reversal, sometimes you need to have 100+ pips stops to stay in the trade, depending on how closely you can or want to monitor the position -- micromanaging longer term positions usually gets me into more trouble than it's worth. Generally...

Therein lies the problem: having a priority of "making consistent money" while at the same time not sure of what kind of trading you want to do. The only real way to find out which method and time-frame you're best suited to is to just get in there and trade, but it will cost you in the short...

Strange AUD seems to be trading ok...

Indices still seem to be trading tho :confused:

Since for some reason IB does not allow conditional stop orders (can someone from IB explain why that is?), here's a somewhat expensive solution, depending on what size you trade. Say you're long X at 95 targeting a long term resistance at 100. You would like to secure profits only after a...

TA is just one element to consider in a trade, but it's wise not to assume that it automatically gives you a "better" chance at evaluating future price action. With chart data and indicators so easily obtained these days, those who trade purely on technicals are usually behind "the curve" and...

I'd rather pay double for my chair, I don't think my monitors would be as picky :)

I think CNBC ticker for 10-yr yield stops updating on close of CBOT pit trading -- 3pm EST, not sure about the early close on friday. But 4.07 sounds about right.

Then put the fantasy calculator away, the sooner you let go of the idea of daily or monthly compounding targets the better. Your year end results will average out in the end to compound at some arbitrary number, but it's meaningless as a goal to think in those terms.

If one tick in any market means 1% or more of your account, I hope you are sweeping out your profits and putting them under your mother-in-law's name :)

The question itself is a faulty one that everyone starting out asks -- what I mean is, I'm sure by "realistic" you are looking for a number which a beginning trader might one day try to achieve once he's made the turn to profitability, correct? But given the fact that 90%+ traders are...