tradergod at work

traderGOD said:
thanks for dropping by
i am not a good trader so i had to choose an impressive name:D
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Nobody is perfect... there is always room for improvement, for everybody. It seems you know that you have still a lot to learn. Other beginners are overconfident and jump in the market with much more money than they should. If you continue trading the way you did so far, you will lose those 25 USD. Not a big deal. Others lose 25 K without even knowing what happend.

If you really enjoy the markets and trading, then stay at it and keep learning. My advice: it is much harder (for me: impossible) to forecast what the market will do on a longer timeframe. Much easier to predict a small change than a large change. Problem: with (retail) Forex and CFDs, because you always pay the spread, it is hard or impossible to make a profit with very shortterm trading. You could open a SIM/ paper trading futures account. Watch a real market (exchange traded), that has volume, liquidity and volatility (like the S&P500 emini, the NASDAQ100 emini or the Bund future). Open a DOM and/ or TnS for that one market and just watch and follow price. For as long as you can really focus and concentrate. Might be only 30 minutes in the beginning. A week later maybe one hour... and so on. Keep focusing on what really matters: market price, and how it moves and reacts, right now, in moment, the minute you are watching it. If you do this every day, for at least a few months, I guarantee you there will be improvement.
 
Live chart for those who want capitalize on my DJ - bang system.1 CFD contract will deliver ~ $800 in a few days for you.

DJ.png
 
CALLumbus said:
Nobody is perfect... there is always room for improvement, for everybody. It seems you know that you have still a lot to learn. Other beginners are overconfident and jump in the market with much more money than they should. If you continue trading the way you did so far, you will lose those 25 USD. Not a big deal. Others lose 25 K without even knowing what happend.

If you really enjoy the markets and trading, then stay at it and keep learning. My advice: it is much harder (for me: impossible) to forecast what the market will do on a longer timeframe. Much easier to predict a small change than a large change. Problem: with (retail) Forex and CFDs, because you always pay the spread, it is hard or impossible to make a profit with very shortterm trading. You could open a SIM/ paper trading futures account. Watch a real market (exchange traded), that has volume, liquidity and volatility (like the S&P500 emini, the NASDAQ100 emini or the Bund future). Open a DOM and/ or TnS for that one market and just watch and follow price. For as long as you can really focus and concentrate. Might be only 30 minutes in the beginning. A week later maybe one hour... and so on. Keep focusing on what really matters: market price, and how it moves and reacts, right now, in moment, the minute you are watching it. If you do this every day, for at least a few months, I guarantee you there will be improvement.
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i have received a lot of advice to know good advice when i see it and you have given a good one
i think i should just trade the smallest lot and make a profit even it is 20 cents.

concentrate on the trading not the money
 
traderGOD said:
so do you scalp?
yes paying the spread is really huge-commissions in forex is very high:i believe they have to come down eventually.
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Yes I "scalp", I do very shortterm trading.

The spread is what all those retail FX and CFD brokers make their money with. I dont think the spreads will change very much, they have not changed much for years.

Another idea for you, something I would prefer to trade over Forex if I would have limited capital:
1) Scalp pre-race horse racing on betfair (similar to scalping in futures, but much less capital required, you can scalp with an account of 100 USD for a profit/loss of a few cents)
2) Trading in bitcoins, for example on BitMEX. They even pay rebates for adding liquidity. And you can connect to BitMEX through Sierra Chart, and trade it through the DOM like you would trade a futures contract, but with much less capital requirement.
 
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