For those of you thinking of scalping or Trading the News

Quote from Lon Eagle:

Never ceases to amaze me how many people think there is only one (usually their) way to trade or one firm/market place you should trade through.
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Right on. As my (invisible) signature line always reminds me...

Don't believe everything you think.
 
Quote from late apex:

Currency futures are completely unsuitable for about 99% of "the typical individual trader." Two words: forced leverage.

Anyone who falls for such "practical advice" with a sub-$25,000-$50,000 account, will stand little chance of surviving the game long enough to actually have a shot at making it as a trader.
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This is a very insightful and thought-provoking idea. And it only solidifies my endeavors as a lowly scalper - heheh.

Now I need to go and open a forex account, and start trading a mini while I commence to discover a decent swing methodology.
 
Quote from late apex:

Currency futures are completely unsuitable for about 99% of "the typical individual trader." Two words: forced leverage.

Anyone who falls for such "practical advice" with a sub-$25,000-$50,000 account, will stand little chance of surviving the game long enough to actually have a shot at making it as a trader.
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You're gonna need at least that much if you want to survive and learn in any case. And no one is forcing you to trade at minimum required margins, put down 20K and you can trade a single lot for quite some time while you educate yourself.

"Forced leverage" is just the nature of the game; if you want to trade the Treasury market, you don't find some 2nd-hand broker to relay quotes to you or make some bogus artificial spread -- you trade treasury futures direct on ecbot like everyone else, and learn to deal with leverage from the beginning. The priority is learning to execute with the most transparent and fair market you can find, not trade at any place that will let you open up an account with a few hundred dollars. Let's face it: this is the one and only reason there is a retail fx industry to begin with -- why else would aspiring traders who've never traded anything else choose this market instead of stocks, bonds, etc?
 
Quote from mephistoII:



Congrats on not having to "work" for a living - that's always great to hear!

Cheers, mate ...
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Oh cheers! I tell you there isn't a day goes by that I'm not amazed by what this market has to offer, it's money for old rope it really is!
What is more amazing is that I'm able to make a living from it, now that really is amazing!
 
Quote from MickMason:

Oh cheers! I tell you there isn't a day goes by that I'm not amazed by what this market has to offer, it's money for old rope it really is!
What is more amazing is that I'm able to make a living from it, now that really is amazing!
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Where are you based in the UK - who have you worked for? We might know some of the same people!

PM if you like.
 
Quote from walterjennings:

I actually thought that video was pretty cool. Did'nt think it was spam :confused:
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ror, what spam...was the guy promoting his amazing trading skills or the also amazing fxcm platform...i missed that.
 
Quote from Lon Eagle:

Where are you based in the UK - who have you worked for? We might know some of the same people!

PM if you like.
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Hi Lon Eagle, I'm in London, are you in UK as well?

I did a spell with Rabobank but that was a few years back, quite a few :)

You're right, maybe PM is better


Mick
 
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