If you are a beginner:can you watch the market from open and closing without making one trade? first try that....if you cannot do that trading is not for you
Not that there are scaming for $5 but it's just that there are the potential for scam for $5 , just sound like a not trustful broker
why? is pepperstone not trustworthy you cannot trust your broker as long as your capital is safe and if there are segregated client accounts they are safe.
Seeing as how I recently finished developing my Forex day trading system and must therefore look elsewhere to periodically reignite the spark that keeps me on fire, I just started a Forex meetup group in the Los Angeles area just for the fun of it and to perhaps pick up a tip or two here and there during the course of group interactions. However, it seems all the other interested parties are in need of information/education as opposed to being seasoned traders who would like to come together to share their experiences in the market, so I'm thinking perhaps reading past entries from this particular thread will give me a fuller idea of what to expect.
i too trade forex but i am from India I too ma close to perfecting my trading strategy....but mine is not so a system as understanding the market movements
One of the best moves I ever made was ceasing to try to predict what the market would do next, and focus instead on correctly interpreting what the market is doing right now. But the funny thing is...correctly interpreting what the market is doing at the moment actually predicts what it will do next. This mindset led me to reject using every single "factory equipped" indicator (which I felt all had major flaws) except for moving averages and moving average envelopes. But one problem remained: Standard moving averages and moving average envelopes could not do what I felt I needed them to do. So the other "best move" I made was to learn enough coding to design my own indicators, ones that could do what I needed them to do. My envelopes are dynamic, using historical data to make adjustments "on the fly" so they give me a more valid measure of price range—and my moving averages rely on nuanced calibrations to define with unprecedented clarity (for me personally, at least) when rates were actually rising and when they were actually falling... Expiated's Numerical Price Prediction (NPP) Forex Trading System Setup:
thank you for explaining your trading philosophy. My philosophy,i should warn you, may seem a little unconventional or even eccentric, but i believe in it and have believed in it, even when it leads me to losses for ten years. Belief leads to persistence and this is the key reason that has made me able to understand what the markets will do or even what the markets has to do. I understand what follows below may not help anyone to make money and i could explain how you could use my philosophy to make money. I will not at this time because i do not know whether you can understand what i am saying or whether you can trust it. I only am pointing out that there is an another of trading apart from the cliches so confidently put forward by those risk reward guys and gurus with their secrets. The market keeps no secrets.It is there for everyone to see. some people think markets move randomly or without sense....this line of thinking is absurd. traders, very street smart, intelligent traders, buy and sell .....and movements are a result of this. There is a technical reason for every movement. markets behave according to certain laws and are predictable to that extent. if you do not believe markets are behaving rationally, then you can never predict markets. believe first otherwise do not attempt to trade or attempt to learn to trade. to say that markets are risky, and that trading is risk management, is something i could never understand. Gambling is risky. Trading is not gambling,and to even operate like the house or casino, is misunderstanding markets. Markets do not play with dice
You're right about me. I would find it impossible to stick with a philosophy that led me to losses for ten years. In fact, my goal is to walk away with a profit every single day, which is why I'm neither a swing nor position trader. My understanding of the Forex market is that moves result primarily from the activity of the world's largest multinational financial institutions, so yeah, I too think it absurd to argue that price action is random or without sense. In fact, next week I will begin testing a modification to a five-minute binary option strategy I just started using this week. (Or was it last week?) Anyway, there was a time when all I could do successfully on a consistent basis was scalp a traditional Forex account, but in the last year or so I've finally expanded this to somewhat of a swing trading approach, and now to five-minute binary options, which I was never able to do before. I'm hoping this will work out in that, hypothetically, it could lead to making $50+ per trade via Nadex at better than a 1:1 reward to risk ratio, a dozen, or even dozens of times a day, which would easily qualify as earning a living for me, given the extremely simple life I live. If so, I will have several months to perfect the technique since another commitment will not allow me to return to full-time trading until September of this year. NPP 5-Minute Binary Option Envelopes on a 1-Minute Chart
Every young trader needs to learn the corners as well as the dos and dont's of the forex market before going live, in order to achieve sustainability. If you reach a level where you can control your emotions and not let greed rule your decisions, then you are up to the task