It should be blatantly obvious where people make the same mistakes over and over, and you can then try to avoid them.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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Transaction costs and slippages. It is the only thing that doesn't depend on me (can't be controlled or adjusted) but affect my trading seriously. Been changing the brokers as gloves, currently testing Hotforex. Even-handed take on them would be much appreciated&will save time on my search.
struggle with one single currency, until find the right tune of it. scalping are never meant for new traders actually, it's not all about quick entry and quick exit at small pips gain. it's more a study upon any pair behavior such daily pips range, session pips range, good time for trade (put entry). collect as many data information related to specific currency would help to a better understanding and accuracy, it may takes time, but all trading strategies are worth of try if we take the study part seriously, in time it will be proven and paid off.
I trade 3 to 4 times a day...I think that will probably define me more a daytrader than a scalper. Revenge trading and trying to get even has been an issue for me in the past. It's very easy to get doubtfull and start to question your edge. Confidence in your strategy is very important.
I found Brett Steenbargers book "The daily trading coach" to be helpfull.
The forex tester has also helped me gain confidence.
The following user says Thank You to sharpshoota for this post:
I always struggle to find a good, reputable and transparent forex broker that would really allow me to freely scalp the market.
I used to scalp, manually entering and exiting the market and trading roughly 35 trades a day.
Unfortunately, what I thought would be the biggest, the oldest, most reputable and fair forex broker is the one who will do the unexpected.
FXCM terminated my account recently while I'm in the midst of scalping the volatile EUR/USD.
Without any warnings, reasons and replies, I don't know when will my investment be refunded back!
So struggling with scalping is one thing, but struggling with a CROOK BROKER is the main thing!
And after what they did to me just recently, I see them now as a big SCAMMER!
Beware dealing with FXCM!
Last edited by anagnam; March 26th, 2015 at 03:09 AM.
any trading strategies could benefit from fine-tuned money management.this are critical part of successful forex trading. many article given good trading plan, but most rookie traders doesnt fully understand. they only care with how much they can collect in short of time. to put simply, good money management is a methdo to Let your profits run and cutting your losses short. scalping may seem like a derogatory term, it is quite normal in reference to the Forex markets. This action is involved with the rapid buying and selling of a position of currency pairs. for such trading purpose I use Tickmill ECN account. this company was armada markets backthen its reputation is perhaps one of the most important benefits that scalpers can enjoy.