hahaa, and usually the price never comes back around

scalping thomas? not much volatility on the major pairs though.....

doing good in demo trading? MBtrading is a good ECN broker. minimum deposit is 400USD.

brush up on money management and trading psychology. capital preservation is first priority.

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Added on March 23, 2010, 11:16 pmbrush up on money management and trading psychology. capital preservation is first priority.

This post has been edited by marvinben: Mar 23 2010, 11:16 PM

Simple ma takes the average of values in its range. exponential MA is weighted where the most recent value is weighted more than the old value. difference is in the formula of calculation. look it up in technical trading books.

Various hedge funds can do that for you. 30% returns in a year is not unheard of. you will need huge capital.

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Added on May 1, 2010, 2:01 amDukascopy have apps for the Iphone. try it out and tell us the results.

This post has been edited by marvinben: May 1 2010, 02:01 AM

Most commonly traded pairs are the EURUSD, GBPUSD, and USDJPY.

I don't set target pips for the day. But usually can "harvest" up to 40 pips on a good day. While sometime losing 20 pips on a bad day. Got to have good MM. Good luck on your demo trading

Don't close on a small pip gain. That should be left for your losing trade. Let your profit runs! Cut losses short.

Use the demo platform to first find out what kind of a trader you are, be it day-trader, swing-trader, or long-term. Figure out a trading plan, only then set pip target according to your trading plan. Welcome to the trading world!

“Anybody who thinks they can get foreign exchange right all the time should be in a lunatic asylum.”

hahaha i like this quote.

Yes bulkbiz, now following the trend and trade for long term (holding position for 2-5 days). I'm using multiple entry multiple exits to reduce risks.

Short term trading does work for me, but the effort and screentime required is just not worth the pips gained. Too much work for too little return. Does the term "underpaid foreign trader" apply here? LOL

You have to go the the Futures market for that. Although where it is traded in the open market is way beyond my knowledge. Good Luck!

scar_face008, for me it's not to jump all in at once, I apply multiple entry for long term position. You might be right, might be wrong. In case you are wrong(very likely), you can add to your position at a better price. In case you are right, simply add more. Both ways, you win. Hope this helps

Don't forget to couple your technical analysis with the fundamentals. Otherwise those MA lines are just pretty paintings of history on your chart.

Yes. In case of reversal, would you rather be already all in or halfway in?

Technicals, they DO NOT work on their own. Must be coupled with Fundamentals. Interest rates, ratings agencies, Banks speeches, unemployment, even mindless rumours can move the market and nullifies any technicals no matter how good they are. My tradings are heavily fundamental. Read the news, banks analysis, commentary. Again, do not take lightly on major banks analysis on the forex market. They are the big players in Forex.

Try another broker then. Plenty to choose from. Dukascopy, FXCM, IBFX are the usual names.

Bulkbiz, when i do technical analysis, my eyes go like this --> @.@
Do you use trading robots?

This post has been edited by marvinben: Aug 23 2010, 11:23 PM

Then how do you trade? by not trading?


Forget those Market Maker if you are scalping. You will just become fodders. And read the fine prints in the agreement. Most market makers doesn't allow scalping. And their price feed are crap anyway. Use ECN broker such as Dukascopy or ACM. (i got a thing for swiss brokers )


bulkbiz. i'm not pro also. just imparting what i can to help others

Let's see what BOJ will do. JPY strength have been hurting my account for a while now.

A word of precaution. The exchange rate offered by those so called Local IB is different from market rates. Please do check beforehand.

Don't even bother with non-regulated russian brokers. Yes they have local deposits and withdrawal etc. What about legality? Go with reputable and regulated brokers such as FXCM, Oanda and such. Will save you a lot of headache.

Many data for US this week. QE2, friday's NFP, tuesday election(hopes republican win). The market gonna be choppy.