the share market used to be like this until government cleaned it up and forex too is now attracting government attention with europe restricting the leverage which was getting so high it was making a casino look like a respectable buissiness
in forex you have to understand how the market makers operate and then you will be able to trade. Wyckoff was one person who blew the lid off that market maker manipulation. Volume is the only thing in markets that cannot be misrepresented or manipulated. everything else from price,sentiment cn be used to their advantage. see todays' movement in eurusd a pure market makers' design
I hear you ... (I switched, many years ago, from spot forex to forex futures so as to be able to use volume, and my results also improved significantly). Just a word to the wise, Padu, about VPA and spot forex: you need to remember that "volume", per se, and anything dependant on it, simply doesn't exist for spot forex: it's not a centralized market and there's therefore no way of monitoring volumes transacted. Some spot forex "brokers" provide what they call "volume", but it's only their own volume, and there's absolutely no reason to expect that it's representative of volume in the interbank market. I'm not suggesting that you shouldn't use VPA (of course!), but maybe you should take it with a pinch of salt? Investopedia estimates that the totality of "retail" represents less than 3.5% of forex volumes. (I don't know how they measure it, and I don't know whether it's true ... but actually it wouldn't surprise me at all, if it is.) I'm "just saying" ...
Baring used 30:1 and went bankrupt. I am using 500:1 What else but bankruptcy can i expect? I have blown 100 accounts
Interesting points. What are you trading nowadays Xela? I recently stumbled across a new business model, where you pay for a trial and if you are profitable according to their trade criteria you get funding. Seems like a hamster wheel to me. Reaching out to some firms they seem to only want Algorithmic traders. I always wonder what lies at the end of the tunnel, for now I will just keep trying to increase my capital.
I trade only futures. That's a growing industry. Some of those things are definitely hamster wheels (at least one well-established one is completely genuine and ethical and honest, though).
i think we all make the mistake that thinking forex is 24 hours it can be traded 24 hours. most times it just sits there and takes out your stops except mine because i do not use stops so it takes my whole account
shows 90% of traders under capitalised :if you under capitalised in the good old days you could not even smell the markets-so people like me were just looking, like we used to look at Playboy