Quoting faq123DislikedHi,
Followng the posting of the question I did a little more research and found the definition of scalping to be a confusing area within forex.
So, as you suggest, I should check the rules broker by broker.
Thanks for your feedback.Ignored
( "Deal directly w/ banks") one etc, that your trades supposedly go straight thru to the banks, & they only know that the trade came from fxcm? So far I'v not determined yet whether I believe that.
Here's my most recent experience:
With the regular dealers Platform (mini-acct) I told them at sign up I was an Extreme Novice, which was true. Although I very quickly percieved that the only time that the Mkt was guaranteed to move a great amt & very quickly was at Rept Release times. I used what I;ve discovered on my own, is called Straddling the Mkt = Buying 10 pis up & Selling 10 Pips down & using 12-15 pip stops behind ea. I was putting these in aprox. 3-4 mins ahead of the respective rept. Oh by the way the 10 up & 10 down means from the outside edges of the last 5 - 6 min approach range amt.
Well any way I popped them for aprox. $220.00 real quick. Maybe got lucky, don't really know? Within a week. Then----------I was all set up again & guess what? When I tried to set up the 2-3 min out from trade time trade, the platform would only allow me the choice of entering at about 150 pips or so out either way???I tried to hold the click down to quickly cover enough pips to at least get in one side of the straddle at least & by the time the scrolling down to my desired enty point the (Rept)=(gun had already went) off & I was too late to enter. Since I'm not brain dead I quickly knew they were throwing some( --it) in the game! I called wondering why this happened & was given several speils , seems a different one from each person I spoke with. Well the bottom line is in their rules-disclaimer etc they clearly are within their rights to not allow entry orders within the time parameters of their choosing. The latest is my converting to (at their suggestion) the newly released platform that supposedly once requested by email and changed by them within 24 hrs, allows trader to trade directly w/ their banks, etc? Well my verdict is still out on this. So far the only problems have been that
the new platform froze when I was trying to move a stop after the entry order was tripped!
I lost money while trying to adjust my stop. I had (2) two computers going at that time. My desktop DSL server in my home, as well as a cutting edge Toshiba at same timethat was online at my home personal "Hotspot" of mine. . So I was told it likley was my computer hung up? When I said I had (2) pc's, the next explanation was "they were having some problems w/ the new upgreded platform & they hopefully woulg get probs fixed soon. I'm believing this "Forex" Mkt is totally rigged to the point that whoever wins is (who they want to win? Hope after further review & experimenting this prove to not be true though.
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