Hello Jimbil, who's the current broker? A one pip spread is wonderful. Are there any downsides with your broker? Thank you for a response.Originally Posted by ;
Hello Jimbil, who's the current broker? A one pip spread is wonderful. Are there any downsides with your broker? Thank you for a response.Originally Posted by ;
I'm still quite new to forex trading. However, what I understand is, there is one more thing (actually, the MOST vital) for one to triumph other than these matters such as system/money management/discipline/method.Originally Posted by ;
Here it is: EXPERIENCE. As it pertains clinic clinic, clinic, and emphasise! (Trade, commerce, and commerce again).
Proof:
No sportman becomes champion without training.
No gamer becomes quite good without training.
Nobody will able to drive an automobile without practicing.
Etc
Good luck.
I concur there is not a mechanical method out there which works, you can't just trade blindly on crosses of whatever EMA, SMA, RSI, etc..
What actually works is price action plus momemtum and breakouts of service resistance lines, examine the charts, there it is, it's staring at you but you simply don't know where to look.
Therefore, here is the deal, there's absolutely no system which functions but there are traders out there very succesfull, so have you ever wondered what's the edge they have?
And by the way, when you reach that level you can forget about cash management, dependent on the installation, sometimes you can just close your eyes and input all the lots you can and make certain it'll be a winner and I am not referring to news trading, just pure technical trading.
I trade with the UK spreadbet firm WorldSpreads.
In certain countries such as the UK, profits are tax free. However, if that doesn't apply to your country, I see no reason why you still couldn't start an account with them and pay tax on your profits as you want if trading with Oanda, FXCM etc..
WS have a 1pip EURUSD, AUDUSD, USDJPY distribute, and a 2-pip GBPUSD spread (was 1 pip till last Tuesday), between 0800-1600 UK time. That the spread is 3 pips.
They have instantaneous executions, except for following some major ENR's - at which times dealer confirmation-requotes may be used.
Every trader has their own method of trading
and they create arrangement called fad
create instant called fundamental,
set sign on anyplace called technicall analysis
will mount everest be drowned? Lets keep our trading % low, higher equity is the key,
Hello yakumo,
if you are likely to use moving averages to base your entry/exit rules. . .you're NOT going to have a platform should you trade every sign. Try using a filtre on a moving average crossover like the following:
1. Use a 3-hour or 4-hour chart.
2. Use EMA(5) and EMA(13)
3. Use the MACD(5,13,0) as a filtre as follows: only take the EMA 5/13 crossover sign if the MACD(5/13) has hit an extreme of ±0.20 or more ( .20 for brief crossovers, also -.20 for long crossovers). By recently I mean over the past two days. And I am talking dismiss the MACD histogram and the MACD signal line.
Go right ahead and back-test that you: Let us say begin with USD/JPY, use 25 or 30 pip stops and take 60 pip profits.
Or look at tkimble's Part Time Wealth Building - Weekly Scalping egy...I've back-tested that one and s have others and it is profitable. Not to mention that tkimble utilizes it profitably within his live trading. I've just started trying it in my trading. I've only started this week and I am up 120 pips net.
I know how you feel man. I've been there; I went through many many egies that are different, programming them and back-testing them. I used all types of fancy high math. Some times it seemed like nothing could work.
If you dont have the experience, then find yourself a great mentor.Originally Posted by ;
Btw, I am a very delighted trader.