HI traders
yes you are right fx-trader777, trading choppy market is not an easy job ,because there are many more traps waiting to hunt the traders,but it's not impossible to trade the range even in the choppy market it depends on your broker strategy that he uses .
i'm one of the people out there who are frustrated and mixed up 'cause of brokers behaviour and policy that trying to tempt you till you get stumbled in the trap because of the brokers claims[ NO COMMISSIONS ,NO SLIPPAGE ,HIGH LEVERAGE COME AND TRADE WITH US ,IT'S GREAT COME GRAB THE CHANCE AND BLA BLA BLA .
and when you get involved with 'em ,you find yourself in an ongoing headache that never seems to end.
yes may be i do seem highly frustrated ,but things get complicated when you open a ccount and never be able to trade the way you like ,the way you believe in ,and comfortable with.
frankly ,i mean scalping as my trading style of choice ,yes BROKERS DO NOT ALLOW THAT PRACTICE (scalping) because they told me so directly and honestly while i was chatting with 'em.
you scalpers out there ,there is no way out of here .if your trying to use scalping in trading forex ,your gonna be down becasue brokers do not charge commissions.
always think through and you 'll find out that brokers are never gonna let you scalp freely because they want BIG bucks and big GUYS besides ,therfore they encourage only trend-follower traders.
i'm gonna show you an evidence and proof on what i 've discovered recently,do not get me wrong guys ,i dont know if i just feel this way but in the end brokers make me feel they are to blame.I'M sorry to say that but this is the truth ,yes it might be hurt but this is useful to know what you want from forex market.
here are few little chats i had with 'em
first below is a chat with FXCM
FXCM!6: Welcome to FXCM's Live Chat feature. So that I may better serve you, feel free to provide me with your name and email address. How can I help you?
you: Hi
you: my name is Nader
FXCM!6: hi
FXCM!6: hi Nader
FXCM!6: i am greg hicks
FXCM!6: [email protected]
you: and i want to know do you allow all trading styles
FXCM!6: yes
you: including scalping?
FXCM!6: yes
FXCM!6: http://www.propfx.com
you: ok your defination of scalping?
FXCM!6: you might be interested in our Prop FX platform
FXCM!6: you can review the website at the weblink abov
FXCM!6: e
you: ok i'm gonna check it out
you: but i want your defination of scalping
FXCM!6: To buy and sell (securities or commodities) in order to make small quick profits.
you: can i open a position now and close it in 5 minutes later?
FXCM!6: yes
you: ok why some brokers discourage scalping?
FXCM!6: sometimes scalpers are able to come in at off-market prices
FXCM!6: buying and selling for quick profits on off-market prices
FXCM!6: which if that is the case, we will put you on dealer intervention
FXCM!6: our prop fx platform is truly the platform for a scalper
FXCM!6: because you eliminate the dealing desk and trade directly with the banks
you: OK can i liqiudate a position instantly
FXCM!6: yes
you: i mean even NZD can be liquidated easily?
FXCM!6: yes
you: ok thank you very much for your great help . i;m gonna check the website you referd me to.goodbye
FXCM!6: have a good weekend
you: goodbye
THE SECOND ONE WITH INTERBANKFX.
Please wait for a site operator to respond.
You are now chatting with 'Client Services'
Client Services: Hello, how may I help you?
you: i got a demo account with interbankfx and i just want to ask you few quisttions.
Client Services: Go right ahead
you: is scalping allowed as atrading style ?
Client Services: No, we discourage scalping
you: why ?
Client Services: Banks as a whole do not like this practice
you: ok is it hard sometimes to liquidate a position?
Client Services: No it should be instant
you: but here are currencies like NZD is hard to liquidate
Client Services: No they can be traded as easily as other currency
you: ok can i trade overnight and get the transaction done?
Client Services: yes
you: ok thank you a for your precious time
Client Services: My pleasure, contact us anytime.
you: goodbye
.
HAPPY TRADING .
[forexer] the realistic one.
great gains without great risk is illusion you cant change it into something real.
Hello
I too contacted InterbankFX.com to ask about their "scalping" policy, and the convesation went like this...
You: What's your policy concerning "scalping" and how exactly would you define it?
Client Services: The banks in general recognize traders who are in and out of a position in less than three minutes as scalpers. However, they usually don't keep a good look at positions unless you're trading 20 or 30 lots.
You: So, if I trade several times a day (minutes or hours) basically it's OK ?
Client Services: Yeah. There shouldn't be a problem at all.
You: Great, Thank you for your time
Now I'm really confused.
Is scalping what they just said (getting in and out of the market in less than 3 minutes or so) ? or is scalping "enterning and exiting the market several times a day taking modest profits" be that within minutes or hours ....?
yes ,it does make much sense to me ,the broker does't care about what's happening behind the scene i mean (traders way of trading) i agree with you Money Duck if you dont mind would you tell me which strategy or strategies you use.
all in all i think scalping technique works best at specific time (most traders get into scalping when NY session get started .
my strategy that i've built is based on (15 -30-1hour-4hour charts along with RSI-MOMENTUM-CANDLESTICKS -PIVOTS ) it seems my strategy tools are something may be we have in common but if we dived deep inside ourselves we would realize that we dont stick to the rules of the game strictly .
while making money is the goal of fx trading ,very few traders trading only for the sake of excitement and joy of feeling a winner .
thank you all guys.
forexer
