Thanks for all the advice last week. My concerns over changing platforms seem ridicilous now. I love the Oanda platform, and had a very good week on it, if I do say so myself. I appreciate all the advice and help.
If you can, would you share how you are trading? I like to read about the various methods. Are you still doing well? Have you discovered anything useful for others in your journey? I noticed there were 237 views to this thread and no posts. Its good when the tools work, isn't it? I am glad that you have found a platform and a strategy for now that work together. Michael B.
I am pleased with how everything is going. I earn approximately 3- 5% weekly. Granted I still make a lot of mistakes, and I spend a lot of time trying to backtrack them, but overall, things are going well. I scalp a lot. I usually am not that interested unless there is an obvious range, and I can see "where it's going". Maybe I'll only make 5-10 pips per trade, but in a good range, I can do that many times a day. I still stay away from fundamental announcements, because things are so chaotic then. I have a lot to learn, and fully understand that a day will never come when I know it all and get to stop learning. I think the hardest part isn't my OWN psychology, as I can fend off negativity without too much difficulty. It is instead reading what others say "can't" be done. I tend to think that some more experienced trader may have something I don't, and listening too much. My performance ALWAYS drops after listening to too many scared traders.
I started a post about two weeks ago, titled "FXCM and oanda walok into a bar..." It was about my choices of broker. There is a famous joke that ends: "Liqour?? (Lick her) But I hardly even KNOW her!!" Just a play on jokes. its not that funny.
Jason, glad to hear you are doing well. Beware of reading too many negative posts. It can cripple you. For example, they continually state that 95% of all traders fail. But, where does this data come from, how were they trading, what were they trading, how much did they study before starting to trade, how much capital, what leverage etc? What can happen, if you pay too much attention, is the first time you make a bad trade, you begin to think, oh no they are right, this cannot be done etc. If people cannot make money at trading then I guess Buffett and Soros have a money tree in their back yard . Keep your head clean of all of the negativity, develop some different strategies and know when to stay out. As far as experienced trades are concerned, I don't know how many here really trade, pretty sure Electric, Lon, and Surf do, but as far as anyone else, I am not so sure. Go to a trading/forex show if you can, sit in on the Free seminars and you will see that these traders have no secrets, it's all been done before. And what may work now does not mean it will work in the future. They have no secrets. OANDA is a good place to start, and not trading news is also a good idea. I think you will be OK. Have fun The Ever Positive Viper P.S. Electric, Hotspot is at $30.00 per M. And a data feed through esignal, FYI.