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You want french fries with that, too? :D The time frame depends on your trading style and could go from the 15 min chart up to the monthly or weekly chart, the logic of the preceding trading setup still applies. Personally I day-trade the Forex.

Example of a simple trading setup: Buy when the close is: 1: above the 20 and 50 moving averages AND... 2: higher than the 40 previous bars Do the opposite for short positions. Stop is the middle of the range of the 40 previous bars. Liquidate long position and take profit if two...

You can consistently make money trading with a purely mechanical trading setup. Simple enough for you?

?? :confused: But of course!

You don't need it to make money trading so don't waste your time looking for the perfect system with a 100% winning rate, just play the odds, manage your risk and you will be fine.

All I am saying Tonkadad is that the trader has a much higher chance of finding REAL breakouts in a trending market than in a choppy, going-nowhere market. For example a symmetrical triangle has more chance to break to the upside than to the downside if the price at that moment is also above...

No, nonsense is entering a trade in a choppy market and expecting the choppiness to cease. That is nonsense, Einstein!

You cannot control the market but you CAN certainly choose to trade only when the financial instrument is above (or below for short positions) two moving averages, 20 and 50 for example. That way you eliminate all financial instruments (stocks, commodities, currencies, etc..) that are going...

And how do you mathematically define a breakout, for backtesting purposes?

Sure, call Warren Buffet and tell him it's soooooooo easy to make 2% a month return on investment consistently, he will pay you millions and millions each year if you can do that. :p

You really think you can use this forum for promotional purposes ("hey, look at this website!") and nobody - including the moderators - would notice a thing?

You obviously have a lot to learn my friend. Any idiot can make a "killing" on January. But making a killing during the rest of the year and the next 50 years, that's another story. I learned, the hard way, that trading is not a sprint but a marathon.

Seriously, are you high, SmallStops ? Because right now you are not making any sense at all :eek: The Dax is an index (the German equity index to be exact), and a pip is the smallest move in the Forex market, so what on earth are you talking about exactly? :confused: Anyway.

Really? Then call Soros or Buffet or Bill Gates, they will beg you to manage their billions right away! :cool: By the way, 2% a month equals more than 27% return on investment at the end of the year, compounded. In other words, 3 times the average yearly return of the S&P 500!! So you guys...

Hi SmallStops, If you deposit let's say a hundred grand in your trading account on January 1 and on January 31st you now have $105.000 you just made 5%. And again, for the last time, make just 2% a month consistently and Warren Buffet will be looking for you :)

Yes, but then you are assuming that his average profit per trade will be the same in the long run. In any case and in general, if the commissions/spread/slippage represent 5% of your gross profit, you need to make at least 5% just to break even, on each trade. And like I said before, the...

You are welcome, have a good weekend. Redneck, your last advice was....priceless, to say the least! :p

Speaking of Ukraine, you could have made a killing just shorting the Hryvnia, the national currency of Ukraine. It lost more than 50% of its value (against the US dollar) in the last two months, in the Forex market, and no one knows how low it could go in the near future...

Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time. Thomas A. Edison

You are doing quite good for a beginner, enjoy while it lasts like they say :)