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- scottik187 replied May 9, 2016
Exactly.
- scottik187 replied Mar 29, 2016
Trading is hard. I think it gets marketed and sold as being easy, but it isn't. It's really hard. The hardest part is learning about yourself. What you get out of it depends on what you put into it. You can make money, but to be honest, you just ...
- scottik187 replied Mar 22, 2016
FA doesn't apply to Forex? So ... interest rate policy doesn't apply to forex?
- scottik187 replied Mar 22, 2016
Those that count are the big ones, and understanding how they do what they do is key. It certainly helps to understand the big moves, otherwise you're just guessing the when.
- scottik187 replied Mar 21, 2016
If I were going to make an analogy for the market, I'd use a see-saw. - One side is buy, one side is sell. - Market participants are the people riding it; you have big ones, small ones, smart ones, dumb ones, professionals and novices. - They move ...
- scottik187 replied Jan 14, 2016
What works is a well rounded financial, economic and political education. Throw in some psychology as well. There's no such thing as a holy grail system, but hey...everyone who's gone the journey has looked for one. It's all part of the process. ...
- scottik187 replied Jan 12, 2016
Not at all, I don't think they should do it for free. What I am saying is that these companies exist to make a profit, and thus have gamed the system to be in their favor. Nothing wrong with that...if a person wants to trade then it's on them to ...
- scottik187 replied Jan 12, 2016
It's important to consider the market in which retail traders participate, and who the "winner" would be if it were a zero-sum game. As trader34 points out, the real winners in the retail forex markets are the brokers. Why do you think there are so ...
- scottik187 replied Dec 17, 2015
SL is a great tool when you're learning, Id say it's essential actually. But as you gain experience and develop your own style and understanding, you may well find that SL is a big part of why you're losing.
- scottik187 replied Dec 10, 2015
Bull flag on the hourly formed through the Asian session ... I always take the Asian session with a grain of salt though.
- scottik187 replied Dec 8, 2015
It seems that we trade in much the same way, and have the same opinion on these things.
- scottik187 replied Dec 8, 2015
I've shorted at 1.0890, with stop just above the high at 1.0902. Very little risk. I don't usually use stops like this but I am already in a little bit of a DD so need to keep risk/exposure in check. Also, above that level we could see stops getting ...
- scottik187 replied Dec 8, 2015
When i say fundamentals, I mean you understand what's moving the market and causing trends/ranges. When those factors change the market conditions change. Perhaps "sentiment" is a better word. I don't care so much what the individual PMI or ...
- scottik187 replied Dec 8, 2015
Key point.
- scottik187 replied Dec 8, 2015
Also in Sydney, and agree all around. Been shorting the AUD for a while now, it's going nowhere but down.
- scottik187 replied Dec 8, 2015
I don't trade with a SL anymore, but that's because my method is a little unconventional. If I were starting out I would definitely use one. You need to protect your capital. But they're so frustrating ... how many times do you make a trades, watch ...
- scottik187 replied Dec 7, 2015
This is something I've thought a lot about. I've done quite a bit of work towards putting some educational material together for traders, but there's some roadblocks. 1. The "base" education that a trader needs is out there already. Babypips, ...
- scottik187 replied Dec 7, 2015
I'm not saying trade the fundamentals, I'm saying learn what they mean and their implications. It's about having an understanding of the market as a whole. Lets use a race car driver as an example. They're very good at driving, and can control the ...
- scottik187 replied Dec 7, 2015
The problem with applying that logic to retail forex, and the "average" person starting out, is that it's a totally different experience to you and the pitt. Pitt trading already builds in a lot of the aspects I discussed, you probably have mentors ...
- scottik187 replied Dec 7, 2015
But mum, he hit me first! ha Agreed. Short the Euro on any retrace.