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Here I come.. :)

  • #1
  • First Post: Oct 1, 2007 3:46pm Oct 1, 2007 3:46pm
Well good evening everyone,

kind of first post on FF, although been reading for a while.
Interested quite a lot in forex, but currently without much cash to start with. Anyways reading tutorials, started on of the recommended books and soon opening demo account which I will take seriously before starting live.

Anyways, what I figured out is that as I have plenty of time to be by computer if it has a value to me, I might start by scalping.. and I suppose around 10-15 pips daily and I would consider myself enough covered as to my needs. However I have several problems to make this work..

Some of them are what currencies to concentrate on, for this particular thought of scalping as a way to survive for a while and make some money with which I could have more options on forex. Since atm I will probably start with micro account. (What can I do, still a student).

I had pretty much idea even before about forex read a bit, and now I have a lot more but still I need some guidance as how and where to start what kind of info and where to look for.

I understand that probably I will use the technical analysis like 90% of the time, but how to get to trends how to follow how to know.. Or the only answer to that would be practice?

Also, please several advices as to what platforms and brokers would be best for this kind of trading. As I am opening demo at Oanda in a few days as a (at least for me) one of the best brokers among many others.

Even If i don't get as many or right answers, certainly great to be around FF..

Cheers!
  • #2
  • Oct 1, 2007 3:51pm Oct 1, 2007 3:51pm
I'm not too sure what you're asking, but my FX education started here:

www.babypips.com

As for me, I am not a scalper, but a trend trader who puts heavy emphasis on fundamentals. So I can't really answer anything about scalping.
Binary Options Trader
  • #3
  • Oct 1, 2007 4:15pm Oct 1, 2007 4:15pm
If you plan on scalping, search for the linuxtroll thread. You will learn all you need.

It's a bit time consuming at first but worth the work.
  • #4
  • Oct 1, 2007 4:49pm Oct 1, 2007 4:49pm
Quoting Insomnia
I might start by scalping..

Also, please several advices as to what platforms and brokers would be best for this kind of trading. As I am opening demo at Oanda in a few days as a (at least for me) one of the best brokers among many others.
Forget about Oanda if you want to scalp, you'll need an ECN like MB trading for that kind of trading style. Market makers wont let you scalp, and you should also have in mind that "execution" in a real account is not as fast as in a demo account. When you're in demo and you place an order, you usually get "instant execution", your order gets filled right away since there's nobody actually taking the other side of your trade. But on a real account you may not get that "instant execution" all the time. I think this is critical when it comes to scalping.

Hope this helps
"I say high, You say low, You say why, and I say I don't know..."
  • #5
  • Oct 1, 2007 5:10pm Oct 1, 2007 5:10pm
if you are starting off scalping, dont bother - just send me your money now and save the heartache
https://linktr.ee/Soultrader
  • #6
  • Oct 1, 2007 5:45pm Oct 1, 2007 5:45pm
Quoting Yoda_Glenn
I'm not too sure what you're asking, but my FX education started here:

www.babypips.com

As for me, I am not a scalper, but a trend trader who puts heavy emphasis on fundamentals. So I can't really answer anything about scalping.
Insomnia

I've referred many people to babypips also. Their free course is straightforward and laid out in such a way that anyone should be able to go through it in a week or so, even less if you have a lot of time. After that, the next step is exploring the material here at FF.
As far as scalping--for some reason a lot of beginners are attracted to this. Maybe because small targets appear to be easily attainable. But in reality scalping is more of an advanced technique which demands great discipline and a high win/loss ratio. Without at least those two things the spreads alone will kill you quickly. There are some successful scalpers here at FF, but the ones I know of are skilled, seasoned traders.
Try Melpheos' advice on linuxtroll and work hard. We all started where you are.
  • #7
  • Oct 1, 2007 6:29pm Oct 1, 2007 6:29pm
Just a thought...
Please consider why it would be called "Scalping" and not killing or wounding or even gleaning. Which do you think would be more dangerous?

Prudence is the Name of the First Year curriculum in this apprenticeship.

Good Luck and
Welcome to The Factory.
  • #8
  • Last Post: Oct 8, 2007 1:31pm Oct 8, 2007 1:31pm
Quoting Insomnia
Well good evening everyone,

kind of first post on FF, although been reading for a while.
Interested quite a lot in forex, but currently without much cash to start with. Anyways reading tutorials, started on of the recommended books and soon opening demo account which I will take seriously before starting live.

Anyways, what I figured out is that as I have plenty of time to be by computer if it has a value to me, I might start by scalping.. and I suppose around 10-15 pips daily and I would consider myself enough covered as to my needs. However I have several problems to make this work..

Some of them are what currencies to concentrate on, for this particular thought of scalping as a way to survive for a while and make some money with which I could have more options on forex. Since atm I will probably start with micro account. (What can I do, still a student).

I had pretty much idea even before about forex read a bit, and now I have a lot more but still I need some guidance as how and where to start what kind of info and where to look for.

I understand that probably I will use the technical analysis like 90% of the time, but how to get to trends how to follow how to know.. Or the only answer to that would be practice?

Also, please several advices as to what platforms and brokers would be best for this kind of trading. As I am opening demo at Oanda in a few days as a (at least for me) one of the best brokers among many others.

Even If i don't get as many or right answers, certainly great to be around FF..

Cheers!

By my opinion scalping is not a good choice for a beginer at all. Scalping gives an illusion that this is the most easiest and fastes way...but you need to be ready, that 1 mistake will destroy all the profit you made by 30-40 good trades and most probably you will have margin call.
Better if you will practice Pending orders, with t/p and s/l orders with the time period inside a week.
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