ComebackKing's Posts

Is demo trading enough before real account? in New Traders Nov 04, 2020 at 15:03

If you can't post a consistent profit on demo there is no way you will do it live. Just because you post a consistent profit on demo doesn't mean you can do it live. Demo is where to start, but transition from demo to live is just as hard if not harder than posting consistent profits on demo. Live trading changes a lot of things.

Is stock trading and forex trading different? in General Oct 31, 2019 at 13:09

All financial markets have a unique personality. This is true of different FX pairs as well. I trade ES and CL futures and I have a different strategy for each. What works with CL does not work with ES and what works with ES is impossible with CL.

MaSa1 in Trading Systems Nov 02, 2018 at 06:34

What made you buy cable on 10/30 at that price? Prior recent price support?

Is it Trump Tweet Market manipulation ? in General Oct 05, 2018 at 06:52

This really isn't a "fair" question. Market manipulation implies that there is some wrong doing or something shady going on. If Trump had been shy and reserved his entire life and just started tweeting after he was in office then I think we should be suspicious. But he is who he is. His tweets are annoying at times, when you're on the wrong side of the move. Sometimes you get the benefit of the tweet. And, quite predictably when the market moves strongly in one direction based on a tweet it nearly always comes back before the close of the trading day. So in this sense ...

Good forex broker that accepts US residents in General Sep 19, 2018 at 20:01

Oanda is probably the safest option. Safety first :-)

Let's Talk Trading in General Sep 06, 2018 at 14:58

Being a doctor is likely much easier than being a consistently profitable trader. There are schools where you go to study medicine and the people actually want you to succeed. There is no such thing in trading, Forex or elsewhere. Yes, there are prop firms who might hire you and some might actually want you to succeed but most could not care less. There are some people and programs that will teach you things about markets but there are many more scammers than there are honest people. Imagine trying to pick a medical school but knowing that 90% of them will just scam you out of your money ...

New Forex Trader Here in New Traders Sep 02, 2018 at 06:37

Hey man, do yourself a favor and just go to medical school or get your juris doctorate. A lot less headache.

Forex Mentor in General Aug 29, 2018 at 14:10

Spending the time to find a mentor is better spent educating yourself IMO. You have a certain personality and you need to trade in line with your personality. The chances of you finding a mentor who a) is not a con artist and b) trades in a way which fits your personality are extremely slim and nil. That time would be better spent learning how markets work and getting the inevitable newbie mistakes out of the way (chasing systems, indicators, etc). I am quite new to FX trading and am not even trading real $$$ at this point. I do trade real money on the S&P e-mini and I do make real mo...

How long on a demo account in New Traders Aug 02, 2018 at 14:49

If you've just started trading, totally new, and you have a perception that 3 months on demo is enough then you're in for a harsh and painful lesson. Trading profitably and consistently is just not that simple or easy. There are people who spend decades trying this - very smart people - who never succeed. You actually think that you are that one special, unique snowflake who can beat the markets when literally everyone else has tried and failed and had to try and try again? That's just not reality. The reality is that trading profitably over a long period is as close to imposs...

Emotion in Forex trading in General Jul 22, 2018 at 05:44

This statement is completely untrue based on my experience. It is true that in any type of trading there is no certainty and there will always be risk. But to say that you can "control" emotion is really misleading. Emotion cannot be controlled but it can be re framed. Perhaps this is what you mean and I'm pointing out a difference in semantics. Dealing with the emotion that is present is key to success in most endeavors with trading being no exception.The part that I REALLY disagree with is that you are "either born this way or not". I am by nature extremely cons...

Why Forex Traders are losing ? in General Jul 12, 2018 at 13:41

How many doctors are there in the world? Are there more doctors in the world or more successful (consistently profitable over the long term) successful traders? My bet is that there are more doctors. To be a doctor requires many years of schooling where there is a weeding out process. There is a regimented training program and testing process. With trading, any fool with some money in their pocket can open a trading account and lose it. Most people lose money trading markets because they have no idea what they are doing. There is no real formal training program for the markets like ther...

Opinions on ESMA & Financial Markets in General Jul 08, 2018 at 06:26

@NottsBlade I can't tell if you are a troll or just off your meds. Why are you trading copper? I thought you were trading FX pairs. If you want to trade copper, which is pretty retarded, just trade copper futures on the CME. Regulated, 100% transparency. Now there's very little liquidity and it's a dead market for 20 hours each day but that's better than trading it through an FX broker.You should do yourself a favor and take a big step back and reevaluate what you're trying to accomplish. If you think you can trade every financial instrument under the sun and be succ...

Opinions on ESMA & Financial Markets in General Jul 06, 2018 at 06:51

Wow, lots of posts deleted in this thread...

Opinions on ESMA & Financial Markets in General Jul 06, 2018 at 06:48

Firstly your charts are a mess. Are you seriously looking at a 1 minute chart of EURCHF? Secondly, there are plenty of examples in the charts you posted where support and resistance are well respected. The last chart you posted, for example. The longest blue candle (June 29), this shows an imbalance of buyers at that price level with very little order flow on the other side of the book. You'd expect at least price to stall at that level once it gets back there, provided not too much time has passed or something in the fundamentals of that market have changed. Low and behold on July 2...

Who is a better trader in this scenario? in General Jul 03, 2018 at 06:07

In general I would say trader B. I say this because there are times when pairs will go dead; there will be very low volatility (or maybe the reverse - volatility is too high to trade). In that sense, trader A would be sitting on their hands while trader B would still be able to trade. I would also say that if a trading strategy or system is truly robust then it will work across many assets and markets. So if trader A is successfully trading, say, the USD majors, they could likely apply that same strategy or system in other pairs.

Emotion in Forex trading in General Jun 19, 2018 at 06:01

My advice is to first find a quantifiable and statistical edge in your trading. Many people have negative emotions (fear) when entering a trade. In many cases that fear is likely warranted because their trading has a negative statistical edge - so over the long run they will lose money trading the way that they do. At the same time you can be 100% in control of your emotions, be the most confident person on Earth but if you have a negative expectancy then you will still lose money. So first, you must find a clear, quantifiable and repeatable trading edge that you will use. This is EXTREME...

USDCHF in Experienced Traders Jun 15, 2018 at 07:29

lol. Are you perma bears in here still trying to sell this pair? Have you blown your account yet? Stop stepping in front of speeding trains gentlemen...just stop.

Need Trade Strategy in New Traders Jun 15, 2018 at 07:02

What you are looking for is a statistical edge. If you are looking for a sort of red light, green light system then yes, it may work but only for a period. Financial markets will catch up to these types of edges and over time they will deteriorate. There are MIT guys on the problem, they have algos running to find little edges like this. If you think that running some sort of MA crossover system or RSI, Stochastic, etc or a combination of these will work - it won't. Markets can be traded profitably but you must understand the nature of markets, the auction process, market structure an...

Emotion in Forex trading in General Jun 14, 2018 at 14:48

You are going to experience both good and bad emotions and you are going to have to deal with them in order to be successful.

Emotion in Forex trading in General Jun 14, 2018 at 05:59

Trading brings uncertainty because we do not know the outcomes when we enter a particular market. Most people are wired in such a way that uncertainty is naturally uncomfortable. Throw in a some losses, a negative P&L, ideas that don't work out, a blown account, etc and you have some serious fear and anxiety to also deal with. Everyone will experience this in one form or another. Then there is greed and excitement as well as hope. You have a profitable trade and there are signals that you should book your profits, perhaps it's written in your trading plan. But you think you c...

All Quotes
AUDUSD	0.653	USDCHF	0.9147
EURJPY	169.15	EURCHF	0.9785
EURGBP	0.8563	GBPJPY	197.36
EURUSD	1.0699	GBPUSD	1.2487
USDJPY	158.04	USDCAD	1.3679

EURUSD	1.0699	GBPUSD	1.2487
USDJPY	158.04	USDCAD	1.3679

Posts by ComebackKing