I have yet to know a Forex Spot trader who doesn't lose big...

I certainly do NOT use 50% of my account as a stop. I don't hold to a percent, I usually go with support/resistance lines.

And yes, 20:1.

 

I never scalp. Ever. It's a waste of time for me.

Oanda has been good to me and other than a few times where I've used a stoploss and it's been strangely triggered, I've never had one problem with them from an integrity point of view.

Their platform has crapped out several times on me, though. Usually around news times.

 

Agree 1000%.

My trading made a huge leap forward when I stopped chasing the GBPJPY and just trade EUR or GBP with a tighter stop.

The crosses are tradeable, but its far easier on the churn and emotions to key off higher time frames - like 30 mins, 1 hours, 2 hrs. Thats some gold right there.

Then scalp the majors which are more mean reverting (can wash out more often - better on the emotions & churn) and cheaper round turn.

True, Cable. What platform you trade on?

 

Agreed, all very good points.

I trade with Oanda and CMC but I've tried a few out ie GFT, Interactive Brokers, Alpari UK, how about you?

 

I started with Oanda then went to MBT. Still with them. Good brokerage save rollover and commission.

 

Spot or futures with MBT Achilles?

 

Spot; for no other reason than i studied free spot charts, originally.

Not very logical, but theres nothing inherently wrong with spot if you trade through a decent 'ECN' broker.

 

No, i'm not saying there's anything wrong with spot, price movement is almost identical.

 

Oh, I know. I just thought i'd add that in cause typical FX discourse round here gravitates towards why one over the other.

 

Both commission and rollover are negotiable with MBT, assuming you trade with reasonable size.