I have yet to know a Forex Spot trader who doesn't lose big...

Quote from waelmg:

Ivanovich, do you use 50% of you account size as a stop?
or 50% per trade size?
if it's the latter then what percentage of your account do you use per trade?

Lastley, can you clairfy the margin you use 20:1?

thanks in advance
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I certainly do NOT use 50% of my account as a stop. I don't hold to a percent, I usually go with support/resistance lines.

And yes, 20:1.
 
Quote from siki13:

As i understand you have been profitable
with oanda as your broker.
I recently stumble upon this forum:
http://www.cyrox.com/forum/index.php?topic=29.0

...and people there says that when you turn profitable you start to experience slippage probably because of the fact that oanda has to start hedging your trades.
Did you ever noticed something like that happening to you or is slippage maybe affecting only very short term scalpers?
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I never scalp. Ever. It's a waste of time for me.

Oanda has been good to me and other than a few times where I've used a stoploss and it's been strangely triggered, I've never had one problem with them from an integrity point of view.

Their platform has crapped out several times on me, though. Usually around news times.
 
Quote from cabletrader:

What's so funny about someone trading Eur/Usd and Usd/Jpy?

There's nothing wrong with trading the most liquid pairs with the cheapest overhead, in fact it makes perfect sense. Why pay 10 or 20 pip spreads on often excessively volatile thinly traded exotics?

You may want to get more than a week's experience in the forex market under your belt before you start ripping into experienced traders like alex.samant, you're credibility is zero and coming out with stuff like that doesn't do much to improve it really :p

Have a great day yourself!
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Agree 1000%.

My trading made a huge leap forward when I stopped chasing the GBPJPY and just trade EUR or GBP with a tighter stop.

The crosses are tradeable, but its far easier on the churn and emotions to key off higher time frames - like 30 mins, 1 hours, 2 hrs. Thats some gold right there.

Then scalp the majors which are more mean reverting (can wash out more often - better on the emotions & churn) and cheaper round turn.

True, Cable. What platform you trade on?
 
Quote from achilles28:

Agree 1000%.

My trading made a huge leap forward when I stopped chasing the GBPJPY and just trade EUR or GBP with a tighter stop.

The crosses are tradeable, but its far easier on the churn and emotions to key off higher time frames - like 30 mins, 1 hours, 2 hrs. Thats some gold right there.

Then scalp the majors which are more mean reverting (can wash out more often - better on the emotions & churn) and cheaper round turn.

True, Cable. What platform you trade on?
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Agreed, all very good points.

I trade with Oanda and CMC but I've tried a few out ie GFT, Interactive Brokers, Alpari UK, how about you?
 
Quote from cabletrader:

Agreed, all very good points.

I trade with Oanda and CMC but I've tried a few out ie GFT, Interactive Brokers, Alpari UK, how about you?
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I started with Oanda then went to MBT. Still with them. Good brokerage save rollover and commission.
 
Spot; for no other reason than i studied free spot charts, originally.

Not very logical, but theres nothing inherently wrong with spot if you trade through a decent 'ECN' broker.
 
Quote from achilles28:

I started with Oanda then went to MBT. Still with them. Good brokerage save rollover and commission.
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Both commission and rollover are negotiable with MBT, assuming you trade with reasonable size.
 
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