Agree, but before you reach there if one has started with really small capital, you must take profits on crumbles on small timeframes, where you can cover with your tiny stop-losses even eventual spikes, untile you will accumulate sufficiently to go higher. Correct?
Yes, sure. But before you know that there are regulators and their websites, you have to know about that. We as millions of Russians and Europeans, back in 2008 and probably still now, have no idea about this type of checkup. Again UBS Bahamas and Credit Suisse Bahamas were not registered with Finra, even if offering to trade American securities, whoever could imagine that? And look on this poster Dennis55, if I am correct about his name, 55, his brokers were registered on Malta and Cyprus, do you think he knew the difference before missing his capital?
agree.....it is a competitive world..... so why hate your competitor,learn from him!!!! if you are trying to take someone else's money-it is a zero sum game-why hate some one who is doing as you do?
i think so.... also i want to use all the time i have,.... to make money,use time efficiently, and not sit for long periods..... doing nothing because that develops bad personal habits like drinking to pass the time
i had trouble trading for twenty years since i was not clear whether the market was ranging or trending....... also it is critical to recognise when a trend move was in a larger trading range or channel......this is far from easy
trading with not enough capital is another problem.....especially if you are trading 5 min because the market will whipsaw violently and if you are over leveraged you are badly hurt. i was considering having 75 usd for every .01 contract size or 7500 usd capital for one standard lot size in eurusd:i think this will give enough leeway not to be forced out of a position and the seeing the market go your way...... want to experiment with it
yes that is critical......but you have to make 'good' high probability trades and not rely upon your stop to compensate you for sloppy trade craft also you have to be well capitalized....i have come to realise that....in my 10 years of trading forex the average capital i have used is around 200 usd. i have now decided to deposit 7000 usd trade one standard lot and scalp eurusd using 5 min. 20-30 pips a day means 200-300 usd: good money where i come from enough to have a comfortable life style It is also important to trade high probability setups.and trades have to be technically logical:entering in a bull move when a good bull bar is formed,with stop below the low ,adding/entering long when the high of a down bar is taken out...with the stop being below the down bar low...are two examples of simple set ups which are logical and offer logically placed stops
Most traders know direction of the market....but they still lose money:because they know not how to manage the trade. Seykota said:'if you cannot measure it you cannot manage it' measuring the parameters of the trade is the challenge:the market may be over bought but how much over bought is it? if you cannot measure it you cannot manage it! if you cant manage it, you cannot control it.....traders are always out of control...and that includes me for the last ten years. but i am understanding what i have to do,now
Traders fail because they are not patient enough to learn what it succeeds to pass. You can never win if your greed and ego overcome your desire to learn and study the market movements. Money management is also key if you are to succeed as a trader