Random Day Trading Observations on A Hot Summer Day….

Boris Schlossberg

If you trade in a team you will always trade better…

When day trading it easier to be 80% accurate on 1-2 risk reward scheme than 40% accurate on 2-1 risk reward strategy…

Edges are easy, sticking to them is hard…

If you trade small and take your stops you may lose, but you will rarely FAIL and lose it all…

Every blown account is the result of ego rather than strategy…

The most important thing in trading is not to win, but to survive…

The market is a Markov process -- it could give a sh-t about yesterday and even less of a sh-t about your position…

Moving averages, support and resistance lines, Fibonacci retraces are all just squiggles on a chart to give us illusion of control…

Brett Hull is right. Systems exist so you can remove as much randomness as possible from trading…

The best measure of your performance is your total return divided by your max drawdown. If it’s 2 or higher -- consider yourself doing well.

The maximum opening trade if you trade more than 10 times a day should be 1X equity. If you don’t add a single unit you would have already levered your account by 10X through simple turnover alone…

The maximum opening trade if you trade less than 5 times a day should be 2X equity.

The maximum opening lever factor if you day trade period should be 4X of as we like to say --
4X for forex…

If your profit factor is 1.3 or better and you did more than 200 trades pat yourself on the back…

If you don’t have a myfxbook account, you are not really trading. You are just f-ing around….

If you want to be good at this, commit yourself to trading for at least ten years….

With dog days of summer upon us, it’s good to take a break. So until Labor Day , I’ll recycle some of my favorite columns from the past.

Enjoy the beaches and the mountains everyone.

USD/JPY – Headed for Summer Lows?

USD/JPY – Headed for Summer Lows?

Chart Of The Day Uncategorized

Ever since the start of the year USD/JPY has felt the brunt of the risk aversion selling breaking one support after another. The culprit for this move has been the collapse of the Chinese stock market which created massive liquidation moves all across the world unwinding many of the risky trades financed in yen.

The gloomy global outlook has also had a very negative impact on US rate taking them down by more than 10bp since the start of the year and weighing on the pair.

However, tomorrow’s Non Farm payroll report may save the day for dollar bulls if it can print above the 250K mark sparking confidence in the fact that Fed may continues to tighten in 2016. Despite the lackluster macro data, the labor reports have been remarkably robust led by ADP data and Challenger layoff figures. If the NFPs print to the upside they may push USD/JPY back above the 119.00 figure, but if they miss the pair could head towards the summertime lows of 116.00