Forex (EUR/USD)

[Good-Carbuyer]

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[Good-Carbuyer]

for example my rule is always tp at 60pips and sl at 30pips.....first trade made, 2nd and 3rd lose, and somehow in this sequence....means my success rate is 33.33% ....I don't lose money but I don't make either...so after a while it gets really boring for me...but at least with this risk mgt ratio...I will not go bankrupt or lose 50K like my fren

Many thanks. City Index charges fixed spread of 20 pips for certain currency pair, I wonder what they are thinking. I mean can we really be keen to trade with hardly any profit left for us? Orther than volatile hours, I do not foresee much/any opportunity to treade certain/most of the currency pairs they are offering.

[Good-Carbuyer]

for example my rule is always tp at 60pips and sl at 30pips.....first trade made, 2nd and 3rd lose, and somehow in this sequence....means my success rate is 33.33% ....I don't lose money but I don't make either...so after a while it gets really boring for me...but at least with this risk mgt ratio...I will not go bankrupt or lose 50K like my fren

Many thanks. City Index charges fixed spread of 20 pips for certain currency pair, I wonder what they are thinking. I mean can we really be keen to trade with hardly any profit left for us? Orther than volatile hours, I do not foresee much/any opportunity to treade certain/most of the currency pairs they are offering.

[Chemmie78]

Many thanks. City Index charges fixed spread of 20 pips for certain currency pair, I wonder what they are thinking. I mean can we really be keen to trade with hardly any profit left for us? Orther than volatile hours, I do not foresee much/any opportunity to treade certain/most of the currency pairs they are offering.

 

most of the time igmarkets only charge me 2 to 3 pips spread....never use cityindex because their fixed spreads are not competitive enough..

 

sian today kena stopped out 7 pips away from my sl level...

[Good-Carbuyer]

most of the time igmarkets only charge me 2 to 3 pips spread....never use cityindex because their fixed spreads are not competitive enough..

 

sian today kena stopped out 7 pips away from my sl level...

Do you use other brokers besides IG? How long have you been with IG and how you find them? I am thinking tiwce about City Index fixed spread of at least 3 to 20 pips.

I mean my plan was sl or trailing stop 20 pips away... City Index from UK may not care about my msiery (not that much trading choice outside volatile hours). This can be rather rigid for me. Suppose to meet them today, and I am sick now (laugh). Phillips, iOCBCfx, Kim Eng said they charge only 1 pip. Only Phillips and iOCBCfx have market depth on their platform (same), but not Kim Eng platform. Kim Eng claimed for certain currency pairs they are at least as competitive as Oanda. I believe DBSefx charge more than City Index.

Edited May 20, 2011 by Good-Carbuyer

[Chemmie78]

I used Phillips before lousy Platform not sure abt their latest one though and they charge commission every trade so far I happy with Ig Kim eng one pip any other charge sure so good?

 

[Good-Carbuyer]

I used Phillips before lousy Platform not sure abt their latest one though and they charge commission every trade so far I happy with Ig Kim eng one pip any other charge sure so good?

Only FX365 among Phillips' platforms is white-labelled from Currenex (banks using this platform) and presentable. They charge 1 pip spread for each trade like Kim Eng. But Kim Eng no market depth on platform. FX365 display market depth to help us avoid/reduce slippages. Seems only Phillips, iOCBCfx, Oanda, have market depth displyed on thier platforms. CME charges about as high as DBXefx.

How you find Kim Eng so far? I may want to spread into 2 or 3 brokers in case of unsatisfaction with any of them, and comparison, too.

[Chemmie78]

Ic actually I think trading psychology followed by technique is more impt than the platform unless they take excessive spreads I already have Phillips futures Acct can directly upgrade to their 365 system?

[1seabiscuit]

You mean Me? Yup I'm a FT Trader.

 

Thks for sharing yr info here. I am FX newbie. If u dun mind i ask, how long u hv been trading FX full time?

[S7rik3R]

Thks for sharing yr info here. I am FX newbie. If u dun mind i ask, how long u hv been trading FX full time?

 

Started since 2006(PT) and convert into FT since 2010

 

[Chemmie78]

Started since 2006(PT) and convert into FT since 2010

The pertinent question is how much are you making per month on average and your trading capital

[Good-Carbuyer]

Ic actually I think trading psychology followed by technique is more impt than the platform unless they take excessive spreads I already have Phillips futures Acct can directly upgrade to their 365 system?

Agree. I done quite some paper trade to study strategies. I used Dual Currency account to simulate swing trading. So even the banks say Currency trading the next thing to do.

[Chemmie78]

Still wondering how much on average TS earns from trading FX

[Good-Carbuyer]

I believe the performance of any individual does not reflect the potential performance of any others, nor average performance of others. Example: I believe a SMC MP diligently dedicated to his/her respective office responsiblility is worthy of $SGD15,000/- monthy salary. However, that does not mean SGD15,000/- monthly distributed equally among members of 6-gang GRC will be value-for-money.

TS having achieved great performance need not be assurance that anyone can do likewise. On the otherhand, there is no restriction to anyone from performing any better.

Self-confidence is more dependence on ourself.

 

[Chemmie78]

I believe the performance of any individual does not reflect the potential performance of any others, nor average performance of others. Example: I believe a SMC MP diligently dedicated to his/her respective office responsiblility is worthy of $SGD15,000/- monthy salary. However, that does not mean SGD15,000/- monthly distributed equally among members of 6-gang GRC will be value-for-money.

TS having achieved great performance need not be assurance that anyone can do likewise. On the otherhand, there is no restriction to anyone from performing any better.

Self-confidence is more dependence on ourself.

I am just unconvinced that anyone here has made say 15k a month consistently trading fx...I do hope that I am wrong though....I believe most of us would be better not trading fx...

[Good-Carbuyer]

I am just unconvinced that anyone here has made say 15k a month consistently trading fx...I do hope that I am wrong though....I believe most of us would be better not trading fx...

You got the point. You are right. It seems that most trading currency (including George Soros) stopped for one reason or another, or take a break. Must be tedious work. I believe most people would be happy to consistently achieve half that sum (bad health can be the resultant).

[Chemmie78]

You got the point. You are right. It seems that most trading currency (including George Soros) stopped for one reason or another, or take a break. Must be tedious work. I believe most people would be happy to consistently achieve half that sum (bad health can be the resultant).

 

yeah...although some say take wider stops and trade small lot for part time trading...

[Good-Carbuyer]

yeah...although some say take wider stops and trade small lot for part time trading...

I had heard the brokers (most of our encounter-party are market-makers) would be alert if we approach that performance. They will intercept/stop us with slippages/re-quotes/freeze. I believe besides good strategies, a lot of good luck really needed. One gentleman told me in Taiwan his broker simply disappeared with his USD10 millions trade (I did not asked him why he keyed such a huge sum with his broker). Each broker has got their maximum limit per trade. I believe if we exceed that limit, our account will be identified for sanction.

Perhaps only exception is the ECN broker.