Only trade forex if you know for sure you have an edge. Even if you have that edge I would still risk no more then 2%, 4% if you've seasoned that method with at least a years worth of profitable live trades under your belt.
lost around 3k withuot knowing much about forex, now i want to learn and re earn them
- Thread starter soldtrade
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In this zero sum game in which algos and HFT prevail, even one of the smartest often fail big. Are you ready to fight in this muddy dog fight? You yourself know that.
As a hobby, it's not bad.I traded forex back in 2005, and have seen the demise of so many brokers due to cheating their clients over the years. Just look up horror stories. Just get it in your head if you want real forex market you either need to have millions in the bank and trade through them or use currency futures.
Granted there are some good forex bucket shops/brokers there. One of the best is Oanda, well used to be for sure. Even FXCM had to leave US.
Typical forex bucket shop is on opposite side of your trades, and uses their software to spike price whenever the want to knock you out of trades. Yes they will not spike 100 pips, but 10–20 pips easily. I have seen it so many times, when had the real market and bucket shop platforms side by side.
Yes, that is why you are clueless.
You knew forex brokers back in 2005, but you know nothing about current forex brokers.
I argued with a guy who claimed forex brokers bet against customers.
Then I asked him to pick out brokers who bet against customers.
He spent 3 days to only find one who bet against customers.
I then spent 10 minutes to give out a list of 10 brokers who don't bet against customers.
I could easily find 100 brokers who don't. And despite I kept asking him, he could not find another broker who fits his claim.
You knew forex brokers back in 2005, but you know nothing about current forex brokers.
I argued with a guy who claimed forex brokers bet against customers.
Then I asked him to pick out brokers who bet against customers.
He spent 3 days to only find one who bet against customers.
I then spent 10 minutes to give out a list of 10 brokers who don't bet against customers.
I could easily find 100 brokers who don't. And despite I kept asking him, he could not find another broker who fits his claim.
you have to learn to trade
it is simple....just like learning the alphabet is simple......any one can learn.......but to be a professional and earn money, let no one fool you, is far from simple
the simplest way is to avoid those that give deposit bonus......or any kind of incentive to customers to deposit money.
I know from personal experience of over 5 years with my broker....my broker is no market maker
you only have to search the internet for the ten best brokers.
but yes that is a good assumption to make especially when starting out.be careful.
cme futures is an exchange and a reputed one at that. if you afford to trade there do that.
no it is not
there are Traders like Linda Raschke , who have tested strategies for longer than that.
I read Brooks and practiced for 12 years.
Like BROOKS says all the time if he is not his best, he loses.
This business is survival of the fittest
markets are not random but they are emotional.
you can estimate rationality...but emotion is something else.....that is why most rational persons are flabbergasted with markets.........and say markets are random.
misunderstanding this crucial fact is also why most persons lose
I am sorry this is off topic.
you can estimate rationality...but emotion is something else.....that is why most rational persons are flabbergasted with markets.........and say markets are random.
misunderstanding this crucial fact is also why most persons lose
I am sorry this is off topic.