The fact is that FX is an OTC market, so it lacks the demonstrable order flow that ultra-short term traders need to see in order to get involved. If you scalp FX, you're simply just guessing.
You are very wrong, I have scalped the EUR.USD Futures for a long time and I take 4 pips a trade. its far easier to predict the next 2 to 5 mins then the next 2 to 5 days. The ones who say scalping cant be done, is they cant do it them selfs
Guys, for the record, then I'm off this thread... MOST "traders" (and posters on this thread) couldn't trade their grandma's gas, let alone a serious and extremely liquid market as the foreign exchange. Hence, if you're interested in trading currencies, I encourage you to disregard the contrary, naysaying Trembling Lilies posting on this thread, and do your own research/analysis. Look at the big picture. Most posters' trading counsel on ET and other trading-related message boards is no better than what you'd find in a stale fortune cookie. Keep that in mind, and good luck with your decisions. It's just a fluctuation, Ex
Wow he's right. In fact, it's damn near impossible to become proficient in fx trading unless you also have a good handle on bonds, equities, metals, oil, commodities etc -- another reason to ditch a pure fx broker for a platform like IB. You're only getting one slice of the pie if all you're staring at are currency pairs -- like the man said, look at the big picture.
my god...give it up man. All i can assume is that you've lost money trading with some dodgy fx broker which might have been down to lack of due diligence.
Give up? Why? The purpose of this post is to point out (immoral) stop hunting (by screwing prices on your data feeds) does exist (which some people think otherwise). It helps to remind other traders not to fall into victims of stop hunting. I don't see what's wrong in pointing out the dodgy practices of retail forex brokers. What's more, I say nothing about whether I have lost money to them, nor I'm grieving.
IF you wanna trade fx via a broker/mm instead of an ecn then deal with it. If you can't see how to benefit from certain brokers manipulating their prices then you really should get out of the game or stick to futures.
sure, i wonder how u gonna manipulate u acct losses when they try to defraud u by addin' trades that never took place'n'even better when u dear bolier goes down under...by da way illuminate us poor incompetent mortal 'bout u transactions'n'how u can outsmart u bucketshop...am dyin' to see some real proof that it is possible to fade thier prices'n'make a livin' on it.