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Posts by focusedfinance

Honest truth about forex..... In New Traders Dec 06 2016 at 15:28
The forex industry needs to do a better job of educating prospective traders. The DD/NDD discussions are getting tiresome. The stop hunt discussions are also tiresome. Pick up the phone, speak to a PERSON on any of the above liquidity providers and the conversation will be Customer: What is the rate on whatever currency? Dealer/Sales Person: whatever the f*** I want it to be There is no law of one price. There is no law of orderly markets (dealers have a code of conduct thing where they agree to do their best to try keep a lid on things and not deliberately cause instability). There is an a...
GBP Pairs - Illiquid Market - Blown Accounts - What price did you get? In General Oct 08 2016 at 16:59
[quote]GJscalper posted: [quote]bestdarngood posted: Luckily I only had a small trade in GBPUSD at the time, plus had a basket trade open so the other pairs compensated for the loss in GBP. You would think after the Swiss move a couple years ago, they would have something in place to help prevent such moves like this...[/quote] Are you kidding me? Don't you understand that it is for reasons like this that this market is not "regulated". You guys have to understand that this exchange is just as bad as bitcoin to invest into. Leaving a position overnight is a ticking time bomb...
GBP Pairs - Illiquid Market - Blown Accounts - What price did you get? In General Oct 08 2016 at 16:38
[quote]theHand posted: What nobody is mentioning here is that the frequency of these events are increasing. Something like BREXIT or Chf is supposed to be a 10 or 15 year event. Yet we have Chf, BREXIT, Turkey, Gpb all in a very short period of time. It's telling you something.....[/quote] There is a difference between market volume and liquidity. Liquidity is the willingness for someone to take the other side of the trade (for example Bank X is asked to quote in EUR500million, makes the price and takes the trade without being able to offset the trade immediately. Liquidity is falling...
Honest truth about forex..... In New Traders Jan 13 2016 at 14:49
I disagree on the leverage. Guns don't kill people. People kill people. The same with leverage. With financial instability and incidents like Alpari I say bring on 2000:1 leverage and thin capitalisation - purely because then more money can stay where it needs to be. In my account. I would rather owe my broker than have my broker owe me. Also, after many years looking at this I reckon one of the biggest issues for new retail traders is watching too many things. Its like learning to fly a plane blindfolded. Rather learn to fly first - then try figure out how to deal with the blindfold. ...
Honest truth about forex..... In New Traders Nov 02 2015 at 19:04
Edge would be a system or approach where the sum of wins is greater than sum of losses Drawdown (objectively) is less important. Edge / profit factor implies that drawdowns will be recovered. Base psychology would be that an individual outcome is random, but a large number of random outcomes creates profitability.
Honest truth about forex..... In New Traders Oct 31 2015 at 19:49
Question - if a trading system has an edge, and say that edge exhibits itself over say "x" trades, surely things like 1% or 3% or whatever rules don't matter? All you need is to have enough money in your account for your system to display its edge.
Why 90% of retail traders fail... In New Traders Sep 07 2015 at 07:37
[quote]FXTrader6789 posted: 90% of retail traders fail becasue they don't know what they are doing.[/quote] 😁😁😁😁😁😁😁😁😁😁 #True
What is your daily target?? In Experienced Traders Sep 06 2015 at 06:21
5%
What is your daily target?? In Experienced Traders Aug 21 2015 at 21:37
[quote]LorraineP posted: Do you know of a good pip calculator to figure 10 pips = 1% of your account value? [/quote] There is a MT4 indicator that does this for 10 or however many pips The one I have is called "PositionSizeCalculator"
What is your daily target?? In Experienced Traders Aug 15 2015 at 19:10
[quote]LorraineP posted: Do you know of a good pip calculator to figure 10 pips = 1% of your account value? [/quote] I do it manually in 2 stages. Account Balance / 100 = $x 1% = $x therefore $x / 10 = value per pip
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.