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You can use volume indicators for long term and if it is not working for you, you can either read a bit about it or start day trading.

Yeah and actually saw a friend blowing up his account because of over leveraging. It’s no doubt tempting to use the leverage offered by the brokers on a single trade but the risks that tag along aren’t worth it at all.

Ya William, with scalping, every minute counts and who’d want to waste it while executing the trades. Not that these 2 strategies can’t be used, but if I’m to choose, I’ll rather prefer manual scalping. Closing the trades on my own according to the profit or losses that I can afford gives me a...

Just go to a broker and explore their website. Make a detailed analysis of the services you are looking for before investing any money. Good luck!

Yeah I’ve heard that these offshore brokerages operate in a financial landscape that follows very minimal financial requirements. For traders like us, it gives us an opportunity to operate flexibly while reducing the corporate expenses.

I’ve been trading with fxview and Swissquote for forex and indices. Their commissions are low and they offer CFDs on instruments along with major, minor, and exotic currency pairs. I tried my hand for the first time recently with gold and oil and did better than expected :)

@Cortney, trade size is the solution and an indication suggesting the risk you’re taking while entering the position.

I believe using as many instruments as possible and the ones that are offered by the brokers. This I say after losing heaps thanks to the cloudy judgment that led me away from the exit strategy.

Heard so too. The high commissions as compared to many other online brokers turn out to be a very expensive proposition.

The best thing about using offshore brokers is that you don’t have to pay any charges for maintaining less balance in your account. Most of them require a comparatively less minimum balance. Along with that, there’s also more privacy which if you ask me translates into more asset protection...

As a day trader, I can surely vouch for that. I mean it is better to risk 1% than go as high as 4 or 5% and I’m less of a risk taker so this works okay for me. Currently I’m working on some new strategies for exotic pair trading. I'm trying to stick to brokers that offer such pairs so I'm...

There’s no fixed rule. Like I trade GBP/JPY and if you look at the daily chart, the average range is about 126 pips. So, if you’ll use 50 pip stop loss, it really won’t make any sense. You stop loss will be hit by the market much before it moves in your direction because of the average 126 pips...

It’s totally up to you what percentage loss you’re willing to take. If you find that the investment’s good but the price will fluctuate, and you’re still willing to take the risk, place a stop loss at 20, 30, or even 50%.

It all sums up to the trading costs really. I’ve been trading indices with fxview and swissquote and their fee is comparatively low. Maybe the fees got overshadowed by the excellent performance of these indices.

Perhaps when the stock is volatile with considerable price movement, the price guarantee does come in handy.

Did anyone try the stop loss limit order? I find it way better than the stop loss order. Unlike the latter, with fxview, swissquote I could place the stop loss limit order at the stop loss price. This helped me get rid of the slippage problem.

Yeah but the timely exit signal is what bought me. I’ve made quite a number of profitable trades with fxview and pepperstone by exiting on time after locking the profits.

What I meant is that if suppose the price is above 200 MA period, go for long setups where the stochastic is oversold. Similarly, if the price is below 200 MA, go for short setup when it’s overbought.

Depends on the platform and broker you’re working with. For me, a setting of 14,3,3 works out pretty well for OB/OS signals with Pepperstone, and Swissquote. I’d rather say you go for a 4hr setting in the beginning, like I did with fxview to understand whether it’s working out for me or not.

Well explained and one thing, before you select a broker/s, ensure you thoroughly go through the deposit and withdrawal terms. Usually, the whole process takes 24-48 hrs.