lastpiponearth's Posts

Can forex trading make you rich ? in General Sep 27, 2015 at 21:24

Yes it can. The first thing you have to accept is that you can and you will lose money. Don't try to save a losing trade. Just cut if and go. Study why it was a bad trade. Then focus on next trade. If it is in profit good but don't try to squeeze all that you can out of it. Set a limit on how much you should get. Never get excited trading the markets. That's the biggest mistake you can make. This is so because it leads to over trading.Just keep on trading until you no longer feel any emotion but rather logic. Accept also the fact that your technical analysis will not work all the t...

Broker with low spreads in Experienced Traders Mar 30, 2014 at 08:06

Yeah for micro accounts I would rather go with XM. Practice until your PNL gets good then you can transfer to standard ECN account type brokers.XM has great execution and gives you high leverage when you are still starting out. They also give you 30% bonus on top of your deposit so you can open bigger lot sizes. But don't let it get to your head, you should still trade properly.

Broker with low spreads in Experienced Traders Mar 28, 2014 at 19:34

It's going to be hard to find a broker with low spreads that accepts $10 as a minimum. Pepperstone and IC markets are good brokers but their minimum is $200. Even if you did trade with them the average margin would already be $3 for a 1000 lot size position of a major currency pair.There are brokers out there that offer micro accounts but micro accounts have high spreads. But it looks like you may only be practicing on a live account since you will be only be trading with $10 you might as well trade on micro.

IB experiece - generaly scams or good thing ? in Experienced Traders Mar 27, 2014 at 06:26

+1 here too.

Is forex gambling? in Experienced Traders Mar 23, 2014 at 06:21

With no lot size it's hard to know how you do your money management. Some systems only have marginal advantages over other similar systems but what sets them apart is the money management. If you are looking to advertise and eventually attract investors you need to show them your money management system. Otherwise, keep trying.

Is forex gambling? in Experienced Traders Mar 21, 2014 at 11:32

Outside the US. Hmm... based on what you said earlier maybe you can open shell corporations domiciled outside US borders for your account.http://www.offshorebvi.com/bvi-shelf-companies.php/?c=s

Is forex gambling? in Experienced Traders Mar 21, 2014 at 08:38

off shore. There's more brokers to choose from and it's easy to transfer if one finds out this broker is not playing fair... with US brokers the choice is severely limited. Those facts besides the low leverage and the hedging restriction.

Is forex gambling? in Experienced Traders Mar 21, 2014 at 01:08

It's on a case to case basis. There are traders who are successful trading with higher leverage and there are traders who are successful trading with lower leverage. Besides that low leverage, many retail brokers were forced to move overseas and shun US based retail traders because of the leverage restriction. It lessens the available brokers at the same time lessens the competition of brokers. Overseas traders are able to take advantage of the stiff competition among brokers while US traders can't.

Is forex gambling? in Experienced Traders Mar 20, 2014 at 13:26

I can really feel the pain of fx trading in the US. So hard to get around that 50:1 leverage.

is hedging in the U.S. illegal in Experienced Traders Mar 16, 2014 at 23:43

Hmmm... this refers to hedging that typically involves the same asset class. But sophisticated traders don't hedge that way. They use different asset classes that are not correlated positively but can help lessen their losses when their main trading goes into a loss and their hedge goes into profit. If their trading plan goes into profit and there hedge goes into a loss, it is typically smaller. The net effect is that the trader still comes out with a net profit position.I am not familiar with currency futures and options but some do trade these asset classes along with spot fx in order to...

Is forex gambling? in Experienced Traders Mar 15, 2014 at 00:46

Know someone like him?http://www.proboxing-fans.com/wp-content/uploads/2012/12/mayweather-brag-meme.jpg

Is forex gambling? in Experienced Traders Mar 14, 2014 at 08:31

@forexpipcatcha http://bbspizzaria.com/images/MP900441050.JPG

Is forex gambling? in Experienced Traders Mar 13, 2014 at 21:33

Pipcatcha can answer some of the very technical questions you guys might have. Don't attack him directly. Maybe he can enlighten us on how things really are. I heard he's been from the buy side lately so I guess he thinks that retail traders are just piss(sic).From now on ask him technical questions and see if he can actually explain them thoroughly, he is a bigshot anyway ;)

Is forex gambling? in Experienced Traders Mar 04, 2014 at 22:30

Actually what makes this some sort of special case between gambling and trading is the probability of outcome.In a pure gambling situation your odds of success is purely 50/50. There are exceptional cases in the casino where your odds can be higher than 50/50 but the casino will stop you from continuing. In fx you can increase the odds in your favor in forex, which makes it a better alternative to gambling. If there was a game in the casino that had higher odds of 50/50 then the casino would just fold up and close business.Gambling isn't addicting, since no matter how hard you try your luc...

Is forex gambling? in Experienced Traders Mar 01, 2014 at 12:47

By that logic all capital markets are a form of gambling. Speculating for a future price of goods and commodities is gambling even when the law of supply and demand would dictate it. If prices of goods and commodities reflected by their securities are affected by the law of supply and demand then all forms of trading is gambling.

is hedging in the U.S. illegal in Experienced Traders Mar 01, 2014 at 12:45

Well the broker won't let you open a trade. Even if you did you may incur additional margin for opening an opposing position. Besides, even if you did try it is entirely the fault of the broker for letting you do that, the CFTC can't go after clients but only after the broker. So the broker has to answer for all your actions, hence the reason why the broker may disable or incur additional margin when opening a hedge.

Is it easy to make 100% monthly profit for any size of account balance? in Experienced Traders Feb 26, 2014 at 05:59

See number 1 and 2 :) the only hard part is waiting for the right chart setup for your strategy.

Is it easy to make 100% monthly profit for any size of account balance? in Experienced Traders Feb 25, 2014 at 12:11

Here's how to do it.1.) Trade the smallest lot size possible. Use wide stop losses as the swings can be very high.2.) Do position trading, only add another similar trading position when your previous open position has already recouped its losses from spreads and commissions. Move your SL just slight above your entry level so you already locked in your profits. Use the same lot size. A good trend can actually allow you to add 5 buy/sell positions before the trend is exhausted and a reversal is finally confirmed.3.) Use timeframes from H4 to MN. Don't go to any timeframe lower than this....

Is it easy to make 100% monthly profit for any size of account balance? in Experienced Traders Feb 24, 2014 at 22:28

Yes. But you would have to familiarize yourself with more than just one currency pair. It takes a lot more work but once you get used to it you can go beyond 100% per month.

I NEED HELP WITH LIVE ACCOUNT RECOVERY in New Traders Feb 22, 2014 at 20:19

TW don't make sense. They give you bonus but get it out if your balance goes below the bonus. If I were you trade cent/micro accounts. There are tons of brokers that offer cent/micro accounts.So your 8? years experience on demo did actually help? Just charge that loss to experience and from now on trade live but only in cent account because in cent $1=100 pips on .01 microlot.

All Quotes
AUDUSD	0.6414	USDCHF	0.9102
EURJPY	164.77	EURCHF	0.9701
EURGBP	0.8605	GBPJPY	191.31
EURUSD	1.065	GBPUSD	1.2368
USDJPY	154.619	USDCAD	1.3798

EURUSD	1.065	GBPUSD	1.2368
USDJPY	154.619	USDCAD	1.3798

Posts by lastpiponearth