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Stop teasing poor inexperiencedjoe.

I understand that and I'm not being critical. I'm just pointing out that I'm not setup for an approach like this. I'm also the iPad trader with another job on the side. Swinging or investing is more effective for me, but I do scalp from time to time as well.

Good for you for finding a strategy that works for you. I personally can't justify a trade where the profit margin is less than the spread currently offered by Oanda. I also don't have the stomach for it on a currency pair like usdcad which has been very volatile recently thanks to its petro...

This is one of those rare cases where even you would have been caught. It all happened way too quickly. It seems odd that you give these big numbers yet talk profits per trade of less than $20. Each pip is $10 on a full lot. Are you grabbing 1 or 2 pips at a time? I'm grabbing $10 to $15 on...

I think most people who trade fail to recognize what they're actually trading. An earlier poster mentioned he was exposing himself to little risk by scalping 100,000 or 200,000 units. Nonsense. Do you understand what you stand to lose? $200,000 x pair price, denominated in base currency of...

You're correct; I don't deny this. However supporting a crashing euro I'm certain was becoming unaffordable. Realizing that this was about to become a lot worse with the planned monetary easing, they suddenly realized they'd made a massive error not allowing their currency to float. The...

The euro has dropped a great deal in a short period of time. With more monetary easing planned in the EU, I'm sure the Suisse realized they were in deep trouble if they continued to hang on. Sometimes it's best to just ripoff the bandaid.

Here in Canada with Oanda it is worded in such away that they are promising the integrity of their own system to close you out before your account goes negative. I would wonder if Canadian investors could argue that Oanda is forced to cover a negative balance and isn't really being honourable...

If you can predict it! This particular big move was a shock for everyone. Nobody expected this however hindsight being 20/20 we probably should have expected it. If you were lucky to be on the right side, you doubled your account, otherwise you lost everything and more.

You can't regulate yourself out of risk. In this case, the only way to mitigate risk is to fully knock the small players out of the game. Do you really want that? Even conservative risk management can eliminate your account in a hurry. My risk in any trade is at most the margin...

Sorry, I didn't realize that. In that case, you may be right. I was only trying to show how one can risk $50 (5% margin on 1000 units ) and increase it by 6 times with a sudden 30% change in price. This really puts into perspective the risks you're actually taking trading currencies.

You don't have to be very leveraged to double or clean out your account when there's a 30% change in price. Buy 1000 units of USDCAD with 5% margin requirement, and you will walk away with $300 after a 30% move in your favor. Nobody expects these big sudden moves with currencies. That's why...

What??? You too? I resemble that! Ha ha!

I was first exposed to this number many years ago when I was deeply involved in learning how to play the violin. So I'll answer from the perspective of learning how to play that instrument. Truth is this number by itself is meaningless. What's 10,000 hours of practice if you lack talent...

Much more probable that it will hit less than 30 first before heading back to 62. However, we are getting into that price range where "catching a falling knife" might be a good idea. Very tempted to go long, averaging down, a little at a time from this price. I've already begun this process...

Yes, gambling as your exclusive source of income is definitely not a bright idea. Had a friend try that. He was so convinced that his scheme at the casino was brilliant. Unfortunately, he had no self control. He brought me along for a few days so I could help cut him off if he lost too much...

Nonsense. With $500 and a car, I paid for a liquor delivery license. I now have a small business paying me about $4000/month after expenses, and I'm free to trade as a hobby from my iPad during slow periods throughout the day.

1%/year? A traditional investment ( a passive account like the so called "couch potato") account earns about 7% per year depending on the risk you're willing to take. And yes, that is appealing. I believe very strongly that it is a mistake to limit yourself to a single approach to earning...

Experienced Joe and Loyek590, I think you and others are missing what I am proposing. I am not proposing pure debt. The interest free debt is matched by savings outside of the trading account. I am suggesting that you're better to trade an interest free loan than risk your savings. By...

Its actually 0% money. The cash back on my credit card pays the 1% fee. My Job/business requires me to spend about $5000 per week all refunded in cash by Wednesday of the following week. I am awarded a 1% cash back on the purchases. So, I do the job related purchases, take the cash, deposit...