sevensa

Easy to make statements about something being proven and when asked where that prove is to say to go and prove it yourself.

While I fully agree that position sizing is important, your references above just mentioned that the traders attribute position sizing to their success. Not specifically % Risk Model of Position Sizing and what you present is hardly proof. Ryan Jones claims in his book that fixed ratio is the best. I'm sure some successful traders use his model. Does this prove that his is the best? As I said, I agree position sizing is important, but I don't think you can claim one method is proven to be the best without actual proof. Maybe it is and I would love to see prove for that. A couple of random traders saying it is so, however is not prove. I can show you 100's of pictures that vendors use to show how great their systems are. Posting a picture in hindsight to support your arguement, unfortunately is not prove either.

Mind to expand who these top traders are and where and how they have proven this to be the best?

You will need to rollover to the new contract. btw, shouldn't you have figured this out before you opened a position?

I don't really understand this part of your post? Besides not meeting margin when the broker will liquidate your position, what else is going to trigger their attention? And if you have margin, what are they going to do when you "trigger their attention"?

Really? What are you basing this on? Do you see many of those kind of messages on here?

Oh, nevermind. I see now that you are really here to SPAM.

How do you follow something that you don't define? How do you know then that you follow it?

I'd be curious to know how you know for a fact this is possible? Nothing against dreaming, but do you honestly think making half a million a year on 50K account is realistic?

Why do you feel you have to make your results public? You are not trading for the public, you are trading for yourself. If posting your results publicly negatively affect your way of trading, but doing it in private works for you, then keep it private. You don't have to please anyone, or owe it to anyone to post your results in public. I don't think your mindset while doing SIM should be about pretending you are going to post the results. Your mindset should be about pretending this is a live account.

To see the code, you can open Amibroker code (.afl) with any text editor. Notepad for example will work.

I'm curious to understand what you expect to learn from the answers? If a couple of people say they are doing that, how is that going to help you? I'm sure there are plenty of people who are doing that with the e-minis. How do you expect knowing that someone else is doing that, is going to help you? And why do you think people doing it with other instruments is not going to help you?

That's not the only logic that is flawed from his reasoning. If you only trade with risk capital, this means you have enough funds, or other income to live on besides the risk capital that you can afford to lose. This means you are not really trading for a living; you are only playing around, or supplementing or hoping to supplement, your income.

Because zen-fire is a datafeed and not a broker. If you don't understand the difference between the two, you really should not be trading until you do.

You don't need to worry about a big fund manager wiping out your account. By following your approach, you will do it yourself.

Well, 20R is 20R, regardless of the account size, isn't it? And if the 40 bucks is not a big deal for you, do you think you will be trading this account differently than a sim account as neither "really matters" (for lack of a better word) to you? If the real issue is having the discipline to follow your plan in the sim account, this is doubtful that you this will be resolved with a live account. Just my 2 cents.

No, you didn't irritate me. But you will find that not many people here are into spoon feeding and answering questions that have readily available answers or require you to put a little effort in, or questions that simply cannot be answered, even though you might think they are perfectly logical questions. The lack of responses to your questions should give you a hint. If you want to know what IB's commissions are, why don't you look on their website, pick up the phone and call them, or send them an e-mail? Their commissions are clearly spelled out on their website. Why would you not go to the source, but instead ask on a forum and then complain that you are getting contradicting information? Questions like that, should always go to the source. Do you think IB is going to give you certain commission structure because some person on the internet told you that is what they should? If you want to know how many contracts you can trade with a $30K account, divide $30K by the margin of the market you want to trade to get the number of contracts. Should you be trading that many? I wouldn't. You are the only one who can answer that question based on your risk, drawdown, risk tolerance, expectancy, etc. If you don't know what those are, then trade one contract until you do. You are asking what is a realistic ROI on an account. This is like me asking you what would be a realistic score for me in my next round of golf. How would you answer that without knowing anything about me and my abilities? You said yourself that 95% go broke (this number is highly debatable, but irrelevant for now). You don't even know yet if you are profitable and part of that 5%, but already want to know how much money you can make. Based on the averages, you should expect to have a negative ROI. With regard to datafeed, IB might be good enough for you. I don't know. It depend on what your requirements are and based on your reply, you don't know what your requirements are. If you don't know that, how would someone be able to answer your question then? The differences between the feeds has been discussed numerous times before. Asking this question contradict you saying that you have done hours of research. I've just typed in "difference between IB data feed and esignal" in Google and found numerous hits explaining that. That took me seconds, not hours. With regard of being in the spirit of it.. you asked, I answered. It is just my opinion and you can just ignore it if you don't agree with me. I will however, give you one more unsolicited opinion that you are not going to like, but again, feel free to ignore... If you think you are asking the right questions, then IMHO, you are not nearly ready yet. On that note, I will bowe out of this thread. Good luck in your trading and I hope you find answers to your questions that you find useful.

Where did you get conflicting information from? The transaction costs are pretty clearly spelled out on IB's website. You don't pay commissions to Sierra Charts, just a monthly fee depending on the options you sign up for. What's your initial risk, drawdown, risk tolerance, expectancy? If you can answer the questions above at #2, you would be able to calculate this yourself. As a beginner, any positive ROI would be huge. It depends on your requirements and if you need true bid:ask. IQ-feed and e-signal are popular datafeeds. You can look up their fees. Zen-Fire is also popular and free via certain brokers. Frankly, you are putting the cart in front of the horse. Start with 1 contract and see if you are profitable. By the time you are (if ever), you will be able to answer the questions above yourself.

So, you are asking if someone who is doing something illegal is legitimate?

You would do us all a favor to apply this policy to the whole of TL. And after you emmigrate, the US might just be a little bit less idiotic.

How do you expect knowing the definition of a PA trader is going to make a difference and help you being a better trader? What kind of answer are you looking for that you will consider "make a difference"? Let's for argument sake say we all agree trading from a one tick chart without anything else is the definition. How will you use this definition to become a better trader? Or are you really looking for someone to tell you how they trade and not so much what the definition of a PA trader is?

I am curious to know why this is important for you to have a definition of what a Price Action Trader is? Do you think this is going to help you to trade better? Does it really matter? You can have everlasting debates about what a price action trader is and what not, but in the end isn't finding a profitable method more important, regardless if you are using 5 minute charts and moving averages, or one tick charts?

I have no affiliation at all with MT and is not using it. MT is a tool. This is your broker that made use of the feature. Just because the one broker you have tested it with made use of the tool in a specific way, does not mean it is not a bad tool and that all brokers will do that. This is a big difference and the part you seems to have missed when you said the below and made it look like you thought that MT and your broker was one and the same thing.

I was just asking since you said you were getting requoted and got bad fills when using MT which sound like you didn't understand the distinction between the broker you were using and MT. So your experience was really due to the broker you were using and not because the charting platform was MT.

You know that MT is the charting platform that many different FX brokers use and is not a broker by itself?