I am still holding my long@13047, +700 over pips

Hi everyone,

Im very new to Forex & just opened a demo account with FXopen. I dont have much knowledge of Financial world & a lot of question to ask 

I start with a few basic question first:

1. Do you recommend the use of indicators for learning & real trading?

2. Lets say everybody uses Fxopen & somehow everybody profits. Where Fxopen get the money to pay?
    (go easy on me..)

I think thats all for now.

Thanks

Wanna ask you something,
usually how many opportunity that you see per month or few month for such medium/long terms trades? once oer month? once of 3  months? or 6 months?

yes.. tried scalping.. it was fun and tiring...and no more... 
I have a friend who scalp with 100k usd.. believe it or not he close his trade (profit or loss at 11pm) before sleep and he is making modest 4-5k dollars monthly.. and yes.. he have day job.. so he trade after work only..(Ive ask him why he didnt resigned and ftt... he said.. wait another 1 or 2 year.. till bank full)

Yes I am. If you look further into the THV system, with it's so called triple moving average is nothing more than a combination of MA and MACD. Combine that with fractals for direction, daily pivot support/resistance and fib is all the tools I need.

The more indicators you have, the more you need to analyse which sometimes lead to 'analysis paralysis' and end up missing trades because you have too much info to make a decisive move when required.

When I lose a trade, it is only 10pips (12 including EU spread) and that is only 1.2% of my equity. I convert scalping into day trading when the opportunity presents itself by moving to BE the moment I make 10pips and then let it run (and locking in profits with jumping stops after that). However, most of the time I would take out profit and immediately go into a reverse trade (keeping in mind that the market moves in micro and mini waves even when it is trending). So sometimes when I'm chasing the market, I can get into a row of losses -12, -12, -12 and then get it right with a +50. Sometimes it's up and down with -5, +15, -12, +10, +13, -2.

It all depends on market conditions. I do not use only technical but I combine it with fundamentals as I try to convert as many scalps into day trading if possible to maximise profit. I use scalping as an entry but not necessary the exit.
DISCLAIMER: Before the next joker comes in and yell "THis is a JOKE", please note that I'm answering a direct question to a member and this is my answer to him and not to every newbie or experienced trader. Don't read this if you don't like it. I'm not asking you to follow. It's just a bloody answer to a question.

Each of my trade is only 1% of my equity and the next trading opportunity is only a few minutes away. With 4 hours of trading from 8pm to midnight for the London/US overlap, there's plenty of opportunity to regain any losses. If you can lose 10 pips in 3 mins, you can also make it back in 3. It is not like the market is going to stop you out and then suddenly goes flat and you lose any opportunity to get back the losses (except when london closes and everybody goes to sleep)

I know that happens to medium and long term traders because once you missed an opportunity or if you end up in a losing trade, the next trade will take some time before the right opportunity happens again. I too started as a day trader and once I missed an opp, I have to wait for it. For scalpers, the next opportunity is just a few minutes away.

Before you say, revenge trade, re-entering a few minutes after losing a trade as a scalper is not a revenge trade. That is just how scalpers do it since our time frame is much smaller.

However, there is one thing I need to point out. I don't practice the usual BIG lots small pip that most scalpers do. I keep mine strictly at 10pips SL at 1% equity so that even with 5 losing trades in a row (not likely) I'm only 5% down. That keeps the emotions in check.

As for when to stop trading, that depends on the market conditions. If it is ranging nicely or seriously choppy or whether it is trying to take out a barrier (last night was a good example of a barrier in play and market stayed active until news announcement). Some people say that anytime is a good time to scalp but that is not exactly true either. Just like surfing the sea, the waves must be just nice and it can't be too choppy. What is choppy and what is not comes with experience and rather difficult to explain here. For me, if my MA8 on 1m chart can't keep up with the PA, then it's too choppy to even scalp.

Believe me that some people actually practice 'no losing day' to keep their records nice as it provides a great emotional support to know that your record is positive. Those would have a small target of 1% or even 2% profit per day (sometimes even just 1 win, irrespective of size) and they'd stop trading. If they lose, they try in that 4 hours or the rest of the day, to get back into positive so that they'd finish in the 'green'. I've seen people do that and they are especially proud to publish their 'no losing day' results (and then get accused of faking it).

So the 'no losing day' traders are not a myth. They are made to look that way.

That is what I curious about. No losing day, hmmm......

I am not gonna talk about long term anymore, no one interested

That is what I curious about. No losing day, hmmm......

I am not gonna talk about long term anymore, no one interested

dont collect currency... bad long term "investment"
collect gold or silver... it dont depreciate in long term and has "true" value
remember, currency is "I.o.U" from the federal bank...and has no "true" value

the ringgit is higher for 15 years before.. what currency that good for me to collect?  is okey to change the money at CIMB ATM for withdrawal foreign currency or open account under FCA like maybank provide...
Please help, for long term investment. maybe can use when travelling oversea.

About currency wars, do u guys think the world will shift its currency to the renmimbi as their currency of exchange?

Heres a food for thought, i rad Market Wizards by Jack Schwager and found out that the legendary traders only have an annual average return of 40% to 60% per year. So i was thinking if great traders only return that much, how is it us individual traders be more profitable by them by putting a 'goal' of lets say, 100% annual return?

Free gift by InterbankFX Australia, a boomerang, indeed a surprise for me.

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Dukascopy now reduce to 1k.. gud broker, bt u nd to wait for its complete confirmation of ur acc for approximately a month or less before u can trade..

lol... bro, get a notebook + maxis bb and use MT4 then.... what is RM58 a month compared to the potential profits?? Unless...
I've been trading for > 2 yrs and had executed > 1000 trades... the attached was jst an extract of the recent tix... lol ... of coz nobody can escape trading losses... but its how strong your capital can withstand those losses...

bro, why FXCM not good for scalping? ... check out my trade time in/out and tell me ...  ... if u r talking about the extra half pip of spread vs. some cheaper brokers, then you are too calculative.... a few seconds of trading can eliminate that half pip easily... what we should look for, is a reputable and trustworthy broker... most importantly, NO DEALING DESK

advice, DO NOT ATTEMPT hedging with Gain Capital's forex.com ... it doesnt work

this guy turnover more than half a billion dollars? nice tips thou
http://www.youtube.com/watch?v=qbHceptBtLs

sounds just like what instaforex is doing. isn't this a normal thing with all broker? or is there a broker that doesn't do that?

is insta forex good n efficient??

Hands itchy but scare kena burn oso but no pain no gain right ? Juz dun over spent