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watchme
Oct 30, 2013 at 12:56
Forex is not about knowing where the market is going.
Forex is knowing how to profit when you understand that you do not know where the market is going.
Forex is knowing how to profit when you understand that you do not know where the market is going.
watchme
Sep 14, 2013 at 09:14
Choosing Broker :
1) Instant withdrawal.
(The term “Instant” in the table shall be understood to mean that a transaction is carried out within a few seconds without manual processing by financial department specialists.)
Exness offers this. Seriously, I like money to be available just like how I take money out of my wallet, as instant as shoving my hand in my pocket and grabbing it, as simple as that, I do not like people to see or know how much I will take out, and definitely I do not want to wait for anyone to approve it, it is after all my money. Thanks Exness for this. And again, I request for Exness to share this with other brokers so I can diversify my brokers.
2) Swap-free account.
Many other broker offer this, but this is a must before I start trading so Good Deal.
3) Trade 0.01 lots.
This is important because before I enter a trade I would usually "test water" or like to have a feel first, so this is important. It is also important to take off a little bit at a time. example: I will open 0 . 10 lot, then after the trade goes in profit, I would like to take out 0 . 05 lots, and keep 0 . 05 lots in the market etc.
4) Low spreads.
Exness offers this, I've seen today that it went to 0 . 3 pips, this is rare, but I am happy I can scalp with this conditions. I have to mention a disadvantage of Exness is that, the execution is not perfect. More than often, I will get profit lesser than when I executed the close of the trades. In comparison, other broker I use, the spreads are adamant to 1 . 8 - 2 . 0, which makes is longer to wait if I choose to scalp.
There are other points like MT4 should not hang (which I have experience with Exness a little more than a couple of times, but usually all brokers offers this)
Mentor:
Another gem I like to share is, if someone wants to teach you forex, instead of asking: "Can you teach me to make 100 pips a day etc.", try asking something like this: "I have managed to make 20% every month in forex, can you improve my ability to increase this percentage?"
bit.ly/20pmonth
1) Instant withdrawal.
(The term “Instant” in the table shall be understood to mean that a transaction is carried out within a few seconds without manual processing by financial department specialists.)
Exness offers this. Seriously, I like money to be available just like how I take money out of my wallet, as instant as shoving my hand in my pocket and grabbing it, as simple as that, I do not like people to see or know how much I will take out, and definitely I do not want to wait for anyone to approve it, it is after all my money. Thanks Exness for this. And again, I request for Exness to share this with other brokers so I can diversify my brokers.
2) Swap-free account.
Many other broker offer this, but this is a must before I start trading so Good Deal.
3) Trade 0.01 lots.
This is important because before I enter a trade I would usually "test water" or like to have a feel first, so this is important. It is also important to take off a little bit at a time. example: I will open 0 . 10 lot, then after the trade goes in profit, I would like to take out 0 . 05 lots, and keep 0 . 05 lots in the market etc.
4) Low spreads.
Exness offers this, I've seen today that it went to 0 . 3 pips, this is rare, but I am happy I can scalp with this conditions. I have to mention a disadvantage of Exness is that, the execution is not perfect. More than often, I will get profit lesser than when I executed the close of the trades. In comparison, other broker I use, the spreads are adamant to 1 . 8 - 2 . 0, which makes is longer to wait if I choose to scalp.
There are other points like MT4 should not hang (which I have experience with Exness a little more than a couple of times, but usually all brokers offers this)
Mentor:
Another gem I like to share is, if someone wants to teach you forex, instead of asking: "Can you teach me to make 100 pips a day etc.", try asking something like this: "I have managed to make 20% every month in forex, can you improve my ability to increase this percentage?"
bit.ly/20pmonth
watchme
Sep 12, 2013 at 08:32
Paypal with Forex Account (FxPro)
Loaded : US$200usd
Net Amt :US$194.90
Paypal Fee : US$5.10 (2.55%)
Trade Result : US$10.90
New Balance : US$205.80
Withdraw all.
1) US$194.90 Refunded so US$200.00 back in Paypal Account
2) Payment of US$10.60
Paypal Fee : US$0.71 (6.7%)
Total : (194.90+10.60) = US$205.50
Where is the additional US$0.30?
Summary:
Deposit : 2.55% Fees
Withdraw : 0.34% Fees
Details On Withdrawal : Total In Paypal = US$209.89
So, 0.71/210.60*100% = 0.34% Fees
Loaded : US$200usd
Net Amt :US$194.90
Paypal Fee : US$5.10 (2.55%)
Trade Result : US$10.90
New Balance : US$205.80
Withdraw all.
1) US$194.90 Refunded so US$200.00 back in Paypal Account
2) Payment of US$10.60
Paypal Fee : US$0.71 (6.7%)
Total : (194.90+10.60) = US$205.50
Where is the additional US$0.30?
Summary:
Deposit : 2.55% Fees
Withdraw : 0.34% Fees
Details On Withdrawal : Total In Paypal = US$209.89
So, 0.71/210.60*100% = 0.34% Fees
watchme
Aug 16, 2013 at 07:22
Before you speak, please think!
After you found the holy grail in Forex, the only thing to talk about is Cheap, Fast, Secure WITHDRAWALS.
Are you at the level I am talking at? Aren't you sick and tired talking about strategies? I AM!
After you found the holy grail in Forex, the only thing to talk about is Cheap, Fast, Secure WITHDRAWALS.
Are you at the level I am talking at? Aren't you sick and tired talking about strategies? I AM!
NeoRio
Aug 16, 2013 at 19:26
This is a good problem to have. Someone once said that the best way to gauge a trader's success is by looking at his withdrawals, not his profits.
watchme
Aug 16, 2013 at 07:22
Forex for me is a method to make or lose money conveniently by sitting on your computer in your underpants.
It's not the safest way but it can be quick. Money is closely related to anyone. Heck, many don't tell their siblings or parents how much they have in the personal bank.
Neither do I, but I want to change that, within my lifetime if God permits.
Forex trading can be a breeze in the park or a war-zone, depending on your knowledge and experience with it. War-zone means you are literally sweating in your air-conditioned room and breeze means sound asleep with trades running.
I prefer micro lots than demo any day, so I have been burnt before. Hopefully all that is sacrificed was for learning lessons which are worth it.
It's not the safest way but it can be quick. Money is closely related to anyone. Heck, many don't tell their siblings or parents how much they have in the personal bank.
Neither do I, but I want to change that, within my lifetime if God permits.
Forex trading can be a breeze in the park or a war-zone, depending on your knowledge and experience with it. War-zone means you are literally sweating in your air-conditioned room and breeze means sound asleep with trades running.
I prefer micro lots than demo any day, so I have been burnt before. Hopefully all that is sacrificed was for learning lessons which are worth it.
NeoRio
Aug 16, 2013 at 19:25
Nice write-up. The war-zone analogy is a good one...I often liken trading to sailing a small boat on the raging waters, in the middle of the ocean. The chances of getting swallowed up are pretty high. While I have nothing against demo trading, I understand your preference to trade live accounts--albeit, micro lots--than demo accounts. I find that I trade a live account or demo account pretty much the same...it's the longevity (or the long-term profitability streak) that makes the difference in the end.
NeoRio
Aug 16, 2013 at 19:25
Cheers
1) Instant withdrawal.
(The term “Instant”in the table shall be understood to mean that atransaction is carried out within a few seconds without manual processing by financial department specialists.)
2) Swap-free account.
3) Able to trade 0.01 lots.
4) Low spreads (0.3-1.0 pips) with no commissions.
5) Provide rebates for affiliates based on number of lots traded by clients. E.g. Earn 33% of spreads traded by clients http://bit.ly/exrebate
6) Able to hedge. E.g. Buy & Sell the same symbol at the same time.
7) MT4 Platform does not jam upon news release.