Can we really WIN? - Page 4
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  1. #31
    Join Date
    Apr 2008
    Location
    Belgium
    Posts
    27
    Quote Originally Posted by Yarcofin View Post
    The only ones I can think of:
    - Most brokers charge a "swap rate" (interest) if you have an open trade intra-day... although it can also go in your favour depending on the pair.
    - Some brokers charge a "convenience fee" of $20 to withdraw your money via paypal, credit card... they may charge you for a wire transfer, etc.
    oh
    by swap rate you mean the roll over ? for the convenience fee, i'm simply gonna ask my broker (forex.com), i'll ask too for the wire transfer fee ...

    I got a newbie question: in short, please explain what is a "scalp trade" and a "news trade"

    thanks

  2. #32
    Join Date
    Apr 2008
    Location
    Ontario, Canada
    Posts
    304
    Quote Originally Posted by Quexos View Post
    I got a newbie question: in short, please explain what is a "scalp trade" and a "news trade"

    thanks
    Scalp trade = in and out. Generally within a few minutes or less. You buy, take your 5-10 pips and get back out. Basically it's the most short-term way you can trade. Scalp trading may or may not be a part of a "day trading" strategy.

    News trading is similar because it's normally quite short, but not always. The name sums it up pretty much.... you hear news, "Inflation rates have risen/fallen to X.XX" and you immediately go and buy/short based on that news. As far as trading on fundamentals go, I guess that is as extreme as you can get.

  3. #33
    Join Date
    Apr 2008
    Location
    Belgium
    Posts
    27
    Quote Originally Posted by Yarcofin View Post
    Scalp trade = in and out. Generally within a few minutes or less. You buy, take your 5-10 pips and get back out. Basically it's the most short-term way you can trade. Scalp trading may or may not be a part of a "day trading" strategy.

    News trading is similar because it's normally quite short, but not always. The name sums it up pretty much.... you hear news, "Inflation rates have risen/fallen to X.XX" and you immediately go and buy/short based on that news. As far as trading on fundamentals go, I guess that is as extreme as you can get.
    Thanks Yarcofin

    So I have been scalp trading without even knowing it was called that. As for news trading, I would not know if one specific news would make a specific currency go up or down so that won't be my cup of tea.

    Ok I asked my broker and they charge 20 bucks for a wire and 40 if it's international (which is my case ) Guess if i ever get a live account and make money, I won't be withdrawing every five minutes ...
    then there is the spread wich is expected. Hope there is nothing else as the first post of this thread seemed to scare me about ...

  4. #34
    Join Date
    Jan 2008
    Location
    Las Vegas USA
    Posts
    137
    Quote Originally Posted by evenpip View Post
    I have been trading with demo/testing/real accounts about 3 years now and I am still looking for the good broker out there =) so if anyone find a good one that is reliable please let me know

    everything involve with money is quite evil isnt it
    Get rid of that false notion that money is evil. That's gonna kill you in this business. You're gonna subconciously sabotage yourself. The love of money can be evil but not money in and of itself. You can do more good in this life with money than without.

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