There is no limitation. Not that I am aware of. Maybe only applied to certain brokers but definitely not these.

This post has been edited by carrer: Oct 9 2015, 05:27 AM

It's possible. But how consistent can he be is the question.
Why not ask for his track record or statement?

I have an account with ICMarket. They are good.
I have read that Pepperstone is better, lower spreads.

Do you have his equity curve from the statement? Could you post it here so that I could see if he is using a martingale strategy or not, etc.

How long is his track record?

Good week for me this week.
Loss about 180 pips (closed)
Open positions 440 pips.




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8-10 months is quite good. But again, without any statement I cannot judge because 12-20% a month is possible.

You have to talk to him, tell him that you are interested but would like to have the statement or investor's account for analysis. That's is the only way to tell if he is real or not.

Yes, I always withdraw through my cc.

Yes, your balance will become 3k, it is just like a normal savings account.

To withdraw, you can choose "Advance Cash" from the ATM machine.

I am using Public Bank card, they don't charge if I have money in the account (debit).

USDJPY, H4.

Heavy consolidation, waiting for a breakout.

Good time to buy.

I am not a pin bar believer.

Assuming I am trading on the Daily chart. My broker's time starts at 0:00 (midnight) local time, I could see a pin bar formed and it is a sign of a reversal.
However, when I look at another broker which is located at a different timezone, the pin bar is no where in sight and I am just seeing a normal bar.

This is the reason why I don't look at the candle stick patterns. IMHO.

That's true. Anything above 1H.

I am a swing trader that's why I could not look at candle stick patterns.

Looking good for long.

My method is very simple. Usually the simplest strategy is the best and most profitable. I have 3 uncorrelated strategies based on different edges. I could not reveal much but I could tell you that my edges are based on breakout (one system), and market's behaviour/nature (2 systems).

I am not sure how long you have been trading and how familiar you are with trading, so I am not sure how to help.

I believe you are a technical trader. So, technically technical trading is divided into 2. One is mechanical and the other is discretionary.

Mechanical trading is usually based on statistics, probability, maths.
Discretionary can be statistical or non-statistical.

Let me know your approach.


I didn't take the trade.

Let us know how it goes when you short USDCAD at 1.3000.

This post has been edited by carrer: Oct 14 2015, 10:32 PM

Firstly, price is the most leading and probably the best indicator in forex (in futures we have orderflow as the leading indicator). Therefore I don't use any other indicators.

Some traders trade price actions, some support and resistance, some patterns, etc.


It's not wrong to use an indicator(s) however you have to make sure that you have a statistical edge. The only way to test if it has a statistical edge is to backtest your indicator (manually or automated). If it has a positive expectancy after about 500 trades then you are good to go.

But again, indicators are prone to curve-fitting. It may work now, this year, this month, but probably not the next.

Regarding books, I don't think anyone would want to reveal their edges publicly. Take a look at The Turtles System, it might not be working anymore but worth a read.

Welcome.

One more thing to add. There are 2 types of edges.

1. Temporary = based on certain market behaviour for a period of time or certain pairs.
2. Permanent = based on the overall nature of the market.

I remember there was one thread in Forexfactory showing a temporary edge. It's something like if the price has traveled a certain pips from the open, enter the trade. You can try using this if you don't have an edge. But I am not sure how long it will last. It works on most pairs.

USDJPY, H4




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Don't you think it is a head-shoulder pattern and should be shorted?


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