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Search: Posts Made By: TraderRach
Forum: Psychology and Money Management September 10th, 2013, 07:01 AM
Replies: 15
Views: 5,560
Posted By TraderRach
We change

It doesn't matter where we are now on the introverted-extroverted scale. The important thing is that we can and do change.

If we keep at trading and are committed enough to success we can become...
Forum: Psychology and Money Management September 10th, 2013, 06:56 AM
Replies: 40
Views: 6,999
Posted By TraderRach
It's part of learning

Take a deep breath Pete. It's all part of the learning curve.

It's good you didn't take any rash action as a result of your fuming. One day you'll stay calm and act like a robot, with no...
Forum: Psychology and Money Management September 10th, 2013, 06:50 AM
Replies: 6
Views: 1,686
Posted By TraderRach
Consistency is the key

There's no right or wrong answer. Even set and forget can work. That is, leave your original stop and target in place and see what gets hit first.

Be consistent with what you do so that you know...
Forum: Psychology and Money Management April 8th, 2013, 04:38 PM
Replies: 10
Views: 4,253
Posted By TraderRach
Value Your Time

Hi Underpar

Great question thanks.

As traders we don't get paid for time. That being the case, assuming the method is at least as profitable, our time is more valued using set and forget...
Forum: Psychology and Money Management March 26th, 2013, 12:02 AM
Replies: 2
Views: 1,061
Posted By TraderRach
Keep Consistent - Be Warned

Hi Robert

Thank you for sharing the video.

I'd like to reiterate that it's very important not to change your strategy too frequently to respond to market conditions. Often when a strategy is...
Forum: Psychology and Money Management January 13th, 2013, 08:21 PM
Replies: 140
Views: 33,411
Posted By TraderRach
Psychology - An Overused Term

Psychology is an overused term. Really what it comes down to is that to be successful as a trader you need to have self-mastery (self-control) to trade a system with an edge and to achieve that...
Forum: Psychology and Money Management January 13th, 2013, 08:05 PM
Replies: 48
Views: 26,290
Posted By TraderRach
Chart Colours - Their Use and Impact

I'm not influenced with my decision-making by the choice of colours on my charts.

I do find it important to be very consistent with what colour set up and indicators I use. I like to make fast...
Forum: Psychology and Money Management November 26th, 2012, 05:04 AM
Replies: 5
Views: 2,674
Posted By TraderRach
MFE Explained

MFE is the "maximum favorable excursion" (or maximum favorable movement) while you are in the trade.

MAE is the "maximum adverse excursion" (or maximum adverse movement) while you are in the...
Forum: Psychology and Money Management November 16th, 2012, 10:58 PM
Replies: 5
Views: 6,872
Posted By TraderRach
Position Sizing for Forex

Hi

% volatility position size (number of contracts) = y% * (Account Equity)[= Amount risked per trade] / (Value per contract) / (ATR pips)

Value per contract = on a pair where you earn USD (you...
Forum: Psychology and Money Management November 16th, 2012, 10:07 PM
Replies: 10
Views: 2,952
Posted By TraderRach
Gain confidence in set and forget and fill your time with what you enjoy

Hi Ross

If you've tested a set and forget approach and testing shows it to be profitable, then you must take confidence in that. This approach does work if done right. Interfering with your...
Forum: Traders Hideout November 12th, 2012, 06:05 PM
Replies: 10,644
Views: 14,240,087
Posted By TraderRach
Introducing TraderRach

Hi I'm Rachel Hunter, also known as TraderRach.

I'm a successful active Forex trader.

I have a website where I provide trading information to help other traders. I'm also on Facebook, Twitter,...
Forum: Platforms and Indicators November 12th, 2012, 03:46 PM
Replies: 4
Views: 3,237
Posted By TraderRach
MT5 doesn't allow hedging, MT4 does

MT5 doesn't allow hedging. It will only hold one position of the same currency.

MT4 does allow hedging. You can hold multiple positions of the same currency, including both long and short...
Forum: Platforms and Indicators November 12th, 2012, 03:34 PM
Replies: 5
Views: 4,541
Posted By TraderRach
MetaTrader is Great Software for Spot FX Trading

1) How long have you been using MetaTrader?

2-3 years

2) What are your favorite features of MetaTrader?

Trade details held in 1 line (entry, stop, target).
Can enter a trade description....
Forum: Psychology and Money Management November 12th, 2012, 03:07 PM
Replies: 117
Views: 32,918
Posted By TraderRach
Focus on a Solid Foundation, then Look to Achieve the Return

The $ amount you make is highly correlated with how much $ you're prepared to lose. The more you risk, the more you can gain (or lose).

% return can be very misleading. With highly leveraged...
Forum: Psychology and Money Management November 12th, 2012, 02:46 PM
Replies: 31
Views: 9,169
Posted By TraderRach
Setup first, discipline second

The first step is to develop a system. It needs to be developed in a way where it's expected to be profitable in it's design.

Live forward testing, as well as gathering data, identifies any...
Forum: Currencies November 3rd, 2012, 07:52 PM
Replies: 15
Views: 4,560
Posted By TraderRach
The importance of product specialization and not all brokers are created equal

Hi JayTrades

Your comment highlights the importance of becoming a specialist in the product you're trading. FX can be highly profitable but it has it's own peculiarities and you can't necessarily...
Forum: Psychology and Money Management November 3rd, 2012, 06:54 PM
Replies: 7
Views: 1,517
Posted By TraderRach
I agree - Psychology and Money Management is Key

I agree TrendTraderBH.

As you evolve as a trader and go through the various stages to become successful there comes a time where you realize it's not about the method and the eternal search that...
Forum: Psychology and Money Management November 3rd, 2012, 06:28 PM
Replies: 3
Views: 1,650
Posted By TraderRach
...and Money Management Allows You To Progress Through The Stages

Hi George.

Thanks for your post. It's a good representation of the stages a trader must go through to achieve success trading.

It's through effective money management from Day 1 of trading...
Forum: Psychology and Money Management November 1st, 2012, 05:09 AM
Replies: 43
Views: 13,044
Posted By TraderRach
The market rewards good and bad actions. Time will tell.....

Hi Josh

Maybe that worked for you this time, but will it work over a large sample of trades? The difficult thing is the market will reward both good and bad decisions impartially. Bad decisions...
Forum: Psychology and Money Management October 31st, 2012, 09:28 PM
Replies: 7
Views: 1,517
Posted By TraderRach
Don't fall into the trap of unrealistic expectations

Hi TrendTraderBH

I agree with you that unrealistic expectations are a common cause of traders "blowing up".

These expectations are built on the fallacy that the destination can be achieved...
Forum: Psychology and Money Management October 31st, 2012, 08:30 PM
Replies: 12
Views: 4,470
Posted By TraderRach
How To Trade Large Trading Capital Sizes

Hi TraderJ.

With large trade sizes it usually takes a team of people to keep the money fully employed.


Different strategies - a variety of strategies and timeframes so funds are employed at...
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