Recent content by Reds28

Trading and gambling are two different things. But you can be doing both things in the the financial markets. Gamblers can make a lot of money quickly but those trading properly probably won't. Good traders can make a living from it but generally their capital will grow slowly but surely. To...

I have demo traded one of my strategies and now want to start live with it. However, given that it requires patience because it requires 3 or 4 indicators lining up in a certain way, I want to auto trade it. Never done any auto trading it before. Can people please people tell me how complex are...

I suspect algo trading tries to utilise micro-second movements in price by capturing profits on the short bursts that we simply would not be quick enough to do. However, standard technical analysis, support and resistance and other such stuff is still relevant as ever. We are not interested in...

FXCM is based in the UK which I prefer from a regulation standpoint but as far ease of use, charts, spreads, etc which would you say was the one to go with. Edit: my mistake. FXCM is American based.

NVP, I am not getting what you mean by the difference in stops? The whole idea is to demo stops as you would in a real account. By the way, I know it is often said that 90% of traders lose. Yes it might be, but how many of these people are good as newbs. They might have read some trading...

Got to agree there is no real pressure on demo when it comes to money management. The only pressure on demo comes from the fact that you want your trades to win so your analysis/system is vindicated. But you can let your profits hit their target without much pressure knowing that real money...

itspossible, I agree that one should not be staking big; however, I also believe account size is relevant in what is considered big or small. I believe you should not be risking more than 2% on any one trade, preferably 1%, and if the account size grows to substantial amount then maybe even...

Agreed. You need to be highly disciplined at all times to make it in this game. This is why there are so many failures. People are simply not disciplined enough. People generally also have awful money management in place because they want to become rich overnight. Even if they start out...

Enlightened, I don't know what you're really going on about. I have a friend who makes an average around 800 pips a month trading forex. He has been doing well for over a year now. I don't really ever see him making net minus pips at the end of a month. And yes, he is good with money management...

Why were people going long when the charts were telling them to short? The price was falling and so would momentum after a while. Trade as you see not as you feel. Any good strategy would adapt to what the price is doing, that's a given

I don't mean large funds but large enough to account for appropriate risk. For example, there are people who open a £500 account and then stake £10 a point, meaning account size too small for stake size. They are simply asking for trouble. Anyway, how have you done from trading? You say you've...

but then went on to lose money after started trading with actual funds? If it went wrong, why? What couldn't you do post trading real money that you were able to on demo? Was it psychology, or your trades stopped working out as well as before, or not having large enough funds when starting out...

I am not convinced with your argument. My systems are nothing new, they have been traded for years and possibly even decades. All I need is price to move regularly (as it normally does) and the ATR to remain stable over time. I have tweaked my systems a little. Two of my systems are working...

I don't care what changes in the forex market. Whether the relationship between pairs, fundamentals, the way people trade, etc, etc, at the end of it all it is going to result in one of two things - either a ranging or a trending market. But that's not to say it isn't difficult trading, of...

However much people like to say the market behaviour changes still it all boils down to an either ranging or a trending market.