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I had a similar situation where my TP was hit and nothing of value was lost. It's interesting - over on the babypips forums there was a hot discussion regarding people not setting SL levels to avoid "spread widening". The idea was to monitor open positions and get an alert triggered via SMS or...

Oh I'm from Canada too (near Toronto actually) so I know this fact very, very well. I"m hoping to apply some AdWords credits and focus on our fellow citizens to get them to open up their eyes a bit. A friend of mine works for an international bank that's in a bit of hot water right now (wink...

If I were risking 20% on any trade I would agree. As it stands I'll be trading with a single mini-lot per trade (so roughly 6.67%), a 1:3 risk/reward ratio with a hard-coded SL of 50 pips. That gives me exposure of approximately 1% per trade with the SL, so I'm still not risking much of the...

So over on my blog I'll be starting a small contest where I'll be pitting some basic technical analysis against a local financial planner and their not-so-stellar GICs. The hope/expectation is to show the ease of trading Forex to those who are new to it by blasting the GIC out of the water...

http://www.youtube.com/watch?v=na1n2YrA9DA

Holy hell, I have not noticed this. I'll be right back, I have some re-writing to do....

Hi spyder! Glad you enjoyed the reviews, the book is even better. ;-) Alright, end of shameless self-plugging. The book has some python code in it to describe how genetic algorithms work, but I actually use Scala for my own trading work rather than Python. Don't get me wrong, Python+Pandas...

I've used Oanda for a few years, but when it comes to their APIs their fees are very high to use their APIs. I'm not a fan of MT4, so using MQL for EAs isn't quite an option for me. Oanda is nice because they have a few native APIs like Java, but the fees start at $600 per month with a $50...

I should have been more clear when I wrote the post that it is aimed at those who haven't "found their legs yet" in FX trading. Newcomers often trade recklessly, or they get cocky after some successes and then tend to grow aggressive and take greater risks. The post was intended to remind them...

Precisely. To put it colloquially, I wanted to point out that most FX traders tend to view Forex as a hammer and all their investment capital as nails. However in the long run this will be very, very dangerous to achieving your final goal, which for most of us is to retire. Diversification...

I see you are the business man in the story of the fisherman and the business man. I agree that trading is a hard core activity and that very, very few people are successful at it enough to use it to replace a steady income. As for myself, I would like to eventually retire so even with a...

You bet. I learned a while ago that I needed to separate the man from the trades in order to succeed. I've since overcome that anxiety, but the bot remains and I'm happier for it.

Forex traders are a special bunch, especially new traders. We often get caught up in technical indicators, trend spotting, candlestick pattern analysis and news events. To be successful, we often think, means being aware of every financial news source and chart all the time! After a few...

Hi all, I'm John, and I'm a Forex trader. I'm also an author, a software developer, a chief security officer and a father to some wonderful kids. I've been trading Forex for the last 12+ years now and I focus mainly on algorithmic trading. I'm new, so I'll keep quiet for the most part while...