well..i still think what bulkbiz say is some sort of 'supportive' statement. it's a very strong reminder actually


Cheers

Then that would be a good example of how 'not to support' people statement. A reminder of an impending doom is not supportive. Just like in a disaster movie where one dude yells.. "We are ALL going to DIE!!".. that is not exactly a supportive reminder.

A better example of "But trust me, once you are very confident and go live, you will lost.".. would be like your driving instructor telling you that once you are confident and go drive your own car, you will CRASH!!. It does not win any awards for being 'supportive', does it?

lolololol...now we r into languages.

back to forex, good luck to edition. may myvi5949's hats off to u.

Thanks for the support Sleep... I understand the risk of trading forex... I will kept in mind what you just mentioned above... Also thanks for the THV System thread at FF... I will read through...

I had 5 years experience with forex trading... I'm not totally a newbie... Yes I do agree I'm newbie in SCALPING... Because last time I thought scalping is not profitable where you only scalp 5-10pips per trade. But now then I realize that actually by scalping one can make a living too... I also believe scalper doesn't measure their profit in pips because what they value is the USD/pip when they are making profit(correct me if I'm wrong)... TP 10pips x 10trade = 100pips/day... Besides it also reduce our risk to stay in the volatile market... I follow a strict money management and TP 4 times/day but I admit that I always overtrading... Until I'm too bored of trading... But had to admit that trading is bored... Only when you are bored in trading then you can make money...

BTW Sleep, do you mind to tell me which broker do you use for scalping? Because some broker only allow you to take your profit after 2 minutes... If you don't want to reveal your broker here you can PM me... I'm still looking for a nice broker to apply this scalping system...

BTW2, I'm here to learn something new and not arguing about swing trade or scalp trade... Peace... Lol...

This post has been edited by Edition: Mar 12 2010, 02:50 PM

seems that we have a different view..good luck then

Cheers

There is nothing to hide about which broker I'm using. I'm using FXDD. With a spread of 2 pips for EU, seldom do I get a chance to close in less than 2 mins. So far no issue with them. Stories of brokers that don't allow closing in less than 2 mins are usually those with zero spread or very tiny 0.5 spreads for pairs like EU. With those kind of spread (or even no spread), I can understand why people open and close in 30 seconds. I'd do it too.

My FXDD account was actually meant for news trading as FXDD has a rather 'fixed' spread during announcements. Imagine EU still staying at 2 pips 1 min before NFP announcements. Although they do not offer the best spread it is perfect for news. However, if I can find a zero pip spread broker, that would be perfect for scalping too.

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Added on March 12, 2010, 5:13 pmIsn't the forum all about languages.. as in what you read is what you get? We cannot hear any sarcasm and we cannot read body languages. We cannot tell if the reply was meant to be a joke or being dead serious (esp when it wasn't accompanied with any emoticons). All we can do is just read what people post and accept it as the actual expression from them.

This post has been edited by sleepwalker: Mar 12 2010, 05:15 PM

Well I see... Guess I had to to compare few broker first before I jump into their platform... Thanks for the above info Sleep...
Are you a fulltime forex trader? What the value of your pips?

guys, would you share the time market open/close at different places? london, usa,...anywhere. in gmt +8

Forex Market Hours

Cheers

thanks sleepy for your gracious statement :-)

thx

Don't forget about the change in Daylight savings for this year on the last Sunday this month for US and UK and first Sunday of April for Australia. Tokyo has no Daylight savings adjustment.

From your statement and your questions, I doubt you have 5 years of trading experience, even if you do, you are still belong to the 95% by asking questions like "what technique you use? which broker are you using?". You still don't know what is forex, the reality of forex. I am not trying to show off, I am just telling you the truth, the ugly part of forex trading. If you and sleep still don't get it, I got nothing to say, and nothing to loose. Good luck in your trading ya! tsk tsk tsk

The value of my pips varies with the size of the SL that I use but I do follow the 2% risk per order, so my lot size varies from 0.2 to 2.0 lots. SL depends on whether I'm scalping, newstrading or day-trading. I will only position trade when I've already locked my profits and let it free-trade.

How can you compare forex trading and driving a car! LOL



This post has been edited by bulkbiz: Mar 13 2010, 12:13 AM

Copy and pasted from somewhere which I think is very true:



The 95% forex losers think that the broker is their friend. They think that the broker is so nice to give lots of freebies and incentives to trade....

The 5% forex winners know that all brokers are sharks. Are we saying sharks are bad or evil? No, sharks are not bad or evil. They are just sharks - when they eat you up, they are just doing their job! So, when a shark says to you, "Hey, the water is nice and warm. Jump in!(scalping is allowed and welcomed,see above)"...

There are a lot of ugly truth about forex brokers, you can search from net, which every retail fx traders have to accept, and learn how to avoid e.g. placing SL near to SR level, scalp during news which most traders's SL will be hit and so on, there are more.

Am I against forex trading? NO! I love it.

This post has been edited by bulkbiz: Mar 13 2010, 12:32 AM

That is why we hide our SL and TP from our broker so that they cannot spike us out. It's not an ugly truth. It is the truth. We are playing against the broker. They want our money and we want to make money from them. We don't win other people's money like the stock market. We have to win the broker's money. If you read the excerpt that I took from the CFTC, they did specifically say that we are betting against the broker. People should not be trading until they read all the terms and conditions. It is all stated clearly there but people just don't read.

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Added on March 13, 2010, 1:03 amWe get it. From your negative statements, you are the one belonging to the 95%. At least he is asking questions. At least he does not leech info from here. When was the last time you actually contributed anything? Those who think they are going to fail will fail. Then have you ever sat back and considered how the other 5% make their money? Definitely not by talking to people like you.

Forex trading is like a classroom of students. You have your clever students who consistently score high marks and you have the bottom rank students who fail at everything, even though they are learning the same thing and doing the same exams. It all depends on how much work you put in. Nobody is born stupid but it will take more than the average person to be successful in forex, in fact you have to be better than average to be successful in anything.. otherwise you'd just be ... umm.. average.

All of us here have gone to high school.. then to colleges and then some proceed to University. Does that mean 100% of us are guaranteed to be successful in life? There will be those who excel and there will be those who fail but I don't think I ever went to school thinking that I'm going to fail.

I guess you don't need any more education in forex.. maybe a self-help book on thinking positive.. might help with the negativity.

This post has been edited by sleepwalker: Mar 13 2010, 01:05 AM

Just because of the questions that I asked then I'm considered as the 95% who failed? I see...
No comment as I do not wish to argue... No point... hahaha... Asking others about their scalping technique also considered a failed trader... lol... Funny... Really no comment... lol... Talk more will only end up with nothing... There no point to be in this thread as ppl treat you like you are dumb and they know everything... How can I ask question then? Once you ask you are considered 95% that failed... I really got nothing to say.... No comment... What I can say is just, Thank you...

Like what Sleep mentioned before, I did not come here just to say "hey i'm newbie, please teach me". No point right... Even when you speak to a mentor like that I guess they will not entertain you as you got no idea what you want to learn from them... I wanted to learn how to scalp cause I never scalp before... That's all... No comment...

This post has been edited by Edition: Mar 13 2010, 05:33 AM

owh that dst.still failed to understand how dst work guess,its time to digest more info

This post has been edited by Invince_Z: Mar 13 2010, 05:43 AM

haha, you still don't get it obviously, it is ok for you to scold me as dumb, LOL. But again I strongly advice you to TEST your method with LIVE ACCOUNT. If not, good luck, tsk tsk tsk.

sleep, I am agree with you I don't contribute much here, HAHA, I admit, and from the way I look here, NON of us here is contributing since day 1, HAHAHAHA