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The only way to achieve that kind of return (at least in the very short term) is to get extremely lucky almost from the beginning and then use maximum leverage to pyramid the winning position to the extreme. Famous trader Larry Williams turned $10,000 to over $1,100,000 and won the world cup...

Of course, if the trend is strong the trade(s) will stay open until the end, otherwise all day-trades are closed at 11 PM (EST).

I forgot to mention something important (although those of you familiar with my previous live calls know that's how I trade) : if a currency pair moves 25 pips in my direction, the stop is immediately moved to break-even. And as you can see, that second short CAD/JPY trade did move more than 25...

Short CAD/JPY at 93.00 , stop at 93.20, exit at 11 PM (EST)

Stopped at 93.15 (23 pip loss), now waiting for another possible (short) re-entry. In general, the Sunday to early Monday period is difficult to trade.

CAD/JPY trade is now active, short at 92.92

Forex traders (and currency futures traders), post your live trades/calls here, with a chart or two if possible. You are of course under no obligation to give/reveal the logic behind each trade. I will start. Short the CAD/JPY with a limit order at 92.92, stop at 93.15. The exit is a time...

I backtested this technique too, Brandonf, and quite frankly I did not notice any significant improvement, at least for my trading system.

In rare instances, yes, Cornix, you are correct. Take the famous Turtles for example. They made hundreds of millions trading a simple Donchian breakout system, with a 20 day lookback period. But after a while their fantastic system was no longer profitable. So they simply changed the lookback...

The margin requirements for trading the liquid enough M6E (E-Micro Euro/USD) is a ridiculous $150, as we speak. Are you telling me that starting with a $6000 bankroll is not enough then, Jo0477? :cool: I am not looking for anything, I already trade standard lots (100K) in the Forex market.

Well, if you ever reach that point Cornix, then you must just accept the fact that your trading system had no real edge to begin with, simple as that.

Well said. :) But like I said in a previous post, after a while successful traders do not give a rat's ass about the outcome of each trade anymore. Each trade (let's say trade # 719) becomes just another freaking trade, end of story. In fact, successful trading is boring to the extreme.

Nonsense, you can trade a few liquid micro futures e-contracts for much less than that. Sick and tired of hearing ET members say that traders need thousands of dollars to trade, only brokers with a vested interest would make that kind of comments!

Yes of course, to trade successfully you need to trade like a machine. Zero emotion. Just like Mr. Spock would trade, I guess :p

Profitability has little to do with how frequently or infrequently you trade. One thing is for sure though, give the same exact profitable system to a day-trader and a long term trader and the day-trader will ALWAYS make more money than the long term trader. Why? Because the day-trader will...

"Step 4. Choose a longer time frame for direction analysis and a shorter time frame to time entry or exit" In my opinion that step is not necessary and more often than not only adds confusion to the decision-making process. Personally I successfully day-trade the Forex with 15-min charts and...

Oh I see. Anyway, the South of France is such a lovely place, I would like to retire there one day and live quietly in one of those nice villas... :)

MadeMan, without (trading) rules no discipline is possible. And without discipline emotional trading will take over and make you lose.

And the Olm can go 10 years without eating. But only 2 years for the crocodile. Are we done with the zoo stuff? :D

No problem at all, Dr. Bouye. Saint-Tropez (France), eh? Vous parlez francais ? :p