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- Rosscub replied Jun 21, 2008
Hi Dimitrius, Actually, because of certain limitations to this style of trading (Oanda will only provide instant exectution of orders up to $200k leveraged 50:1), I have been working on a modified version for day trading. It uses the same basic ...
Brokers and scalping my eur/usd
- Rosscub replied Jun 20, 2008
If you use market orders, you will get slipped. That is with any broker. When you submit a market order, you are asking for the NEXT best price. That price might be the same as the last price you saw, or it might be a different price. I have been ...
Scalping and Brokers
- Rosscub replied Jun 20, 2008
I can't speak for others, but I'm profitable month after month and no problems here. My experience with other traders is that when they start losing, they find anyone and everyone to blame but themselves.
Scalping and Brokers
- Rosscub replied Jun 20, 2008
I scalp the EUR/USD and I can attest to the fact that it is not more or less profitable than other styles of day-trading. "Trading is 10% technical and 90% psychological. That means YOU are the best trading system." Steve Rising
Scalpers make more
- Rosscub replied Jun 20, 2008
Oanda is a great broker for scalpers. As a scalper you need fast execution and low spreads. Oanda has everyone beat on both accounts. You may see some ECN's with .5 spread on the EUR/USD, but after you factor in commissions, Oanda is still cheaper. ...
Scalping and Brokers
- Rosscub replied Jun 20, 2008
Hi Dimitrius, I will give you the general concepts of my strategy without sharing the definite secrets :-) I use the Daily and 1 Hour charts to determine key levels of support/resistance. Usually this is high/low pivots, but I also check to see if ...
Brokers and scalping my eur/usd
- Rosscub replied Jun 19, 2008
I use limit orders for entry but most of my exits are market. Sometimes I exit on my profit limit if the market is moving quickly.
Brokers and scalping my eur/usd
- Rosscub replied Jun 19, 2008
I have a live account with Oanda and I scalp daily taking 1-5 pips and remaining in a trade less than 10 seconds. I have been doing this month after month without any problems from the broker.
Brokers and scalping my eur/usd
- Rosscub replied Jun 8, 2008
“Luck is what happens when preparation meets opportunity.” - Seneca Happy trading, Arthcub
How to Become a Successful Forex Trader
- Rosscub replied Jun 7, 2008
Hi Jay, I would like to comment on the three points above. 1. "To be good at this, you've got to have no fear!" Well, I have to disagree. To fear nothing means to love nothing, and I love my capital :-) I guard it with my life because without it I ...
What I learned this week
- Rosscub replied Jun 4, 2008
There is no problem scalping with Oanda. I do it all day long. I average 2 pips a trade, and average trade time is 6 seconds. And before anyone asks, yes, I trade live with a decent sized account.
isn't there a home for scalpers?
- Rosscub replied Jun 1, 2008
Yes, that is correct. You must have the proper frame of mind for the style of trading you employ. Trend traders have to "let their profits run" and "cut their losses short", while scalpers have "to never let a winner become a loser." A potential ...
Is 6 pips a day enough for you?
- Rosscub replied Jun 1, 2008
I can only answer these questions as they pertain to me; I can't speak for all scalpers. I put a fixed percentage of my account into each trade, and I use a fixed stop/limit x pips away from entry. This comes out to a 1.5% risk/reward on each trade. ...
Is 6 pips a day enough for you?
- Rosscub replied Jun 1, 2008
FXRichard, I never said you shouldn't have a goal of x pips a day. Try to understand what I'm saying. I said you shouldn't "expect" x pips a day. Having a daily goal helps you protect your profits and improve your psychological outlook on trading. ...
Is 6 pips a day enough for you?
- Rosscub replied May 31, 2008
FXRichard, There are certain keys to reaching your goals. One of them is that they should be specific; otherwise, how will you really know if you have obtained them. "To be profitable" is a worthy goal, but it's not specific enough. You should right ...
Is 6 pips a day enough for you?
- Rosscub replied May 31, 2008
Goal Setting — FXRichard, You are correct in that we are both scalpers; although, our entry decisions are probably a little different. I know of linuxtroll's scalping method, but my system is a breakout strategy that uses the daily, hourly, ...
Is 6 pips a day enough for you?
- Rosscub replied May 30, 2008
I average a measley 1 pip a day, but that returns on average about 5% a month. This month I had 26 trades with 73% positive. Average gain was 2 pips; average loss was 2 pips. I never had greater than 1.5% peak to valley drawdown. My point is that ...
Is 6 pips a day enough for you?
- Rosscub replied Apr 2, 2008
Discipline is discipline. If you can't be disciplined on demo, you won't be with a live account either. Plan your trades, and trade your plans.
Demo and Discipline!
- Rosscub replied Mar 19, 2008
permanentjaun, Ikon-Royal meets your criteria. They have ECN sized spreads, MT4, and they allow scalping (I asked them). Only $1000 to start and they have mini lots.
What broker would work well in this situation?
- Rosscub replied Mar 17, 2008
Also, all my platforms show higher spreads today, so I agree that it is a liquity issue and not just Oanda.
Oanda Platform Problems