We are on completely different pages indeed.
uninformed opinion? please...
Anyone talking about multiple entries a day from 1-min charts with super tight SL's in FX are 100% bogus in my book.
The undertones of your messages let me know you were offended, trying to take little stabs... passive aggressive.
"The moves started right here on the 1min".... ok guy.
Are you sitting here claiming to be a profitable, professional at-home retail fx trader doing this for any decent amount of time?
And try not to twist my words into completely different sentences, I can't even respond to that.
Thanks.Quote from pikachu9:
http://en.wikipedia.org/wiki/Joe_Lewis_(British_businessman)
"After selling the family business in the late 1970s, Lewis moved into currency trading in the 1980s and 1990s, resulting in his move to the Bahamas where he is now a tax exile. In September 1992, Lewis teamed up with George Soros to bet on the pound crashing out of the European Exchange Rate Mechanism. The event, which was dubbed Black Wednesday, made Lewis very wealthy, and some say he made more than Soros. Lewis is still an active FX trader."
Yes, they exist, but I don't need to say how difficult it is.
Best way to find out is to try it.
Quote from nitro:
Yes, most definitely. For retail traders it is incredibly hard because the spreads are so enormous.
Keep an eye on the ECN model as that will change the game. There are firms out there working on leveling the playing field considerably, and they have an idealistic attitude of taking on the banks. Banks will be left behind as more enterprising market makers enter the game.
When it will happen I don't know, but imo Forex trading when that happens will be the most exciting trading game in the world for retail traders. The critical mass is no more than say 30 pippette (1 pippette for EUR/USD = .00001, in general the minimum tick fluctuation) spread on the EUR/USD, and so on for slightly wider (based on their tick size or "precision") on some progressive scale on the less liquid pairs.