Hi. So its been really long time since 2011 I am trying to trade.
I watch every introduction to Forex technics Japanese Candlesticks Patterns.
So i finally get more free time to try to trade.
So far so good.
I have a question to the people who trade often and understand!
So i am just focusing on support and resistance brakes and triangles and with confirmation from the candles. So far very good i made 3 orders and i made some profit ( Demo trading ). My question is: Is it enough ? I mean is it enough confirmations ? Like i read that every person haves his own way of trading so i don´t know maybe everyone in the begging was asking the same question.
And unfortunately my Broker haves no spread accounts but it haves commission spread so it is the same you pay it.
My other question is, Does any one know a Broker who haves like 0 - 5 spread for most of the good Pairs ?
I don´t know if i am a scalper i trade in 15 - 30 - 1h time frame. So lets say a Broker with low spread and allowing Scalping.
Thank you all for reading 
and helping. Have a wonderful day.
In terms of ‘is it enough’ that’s really up to you. If you feel that it’s working and if when you test it it works then use it! Also I know that because of the SNB disaster FXCM has [U]really[/U] tight spreads. You should do your own research. Personally I’m not a scalper so Oanda work fine but if you don’t mind going with FXCM after their near-bust then they’re for you! I think that overall practice is the clincher as to whether or not your stratedgy works.
Feel free to pm me if you need more help.
~ImBatman
You are the only one who can decide if it is enough confirmation or not. If this is bothering you, you can try entering only with half the volume you usually do, and entering the other half only after the price moved more. What is important is that you define a strategy with which you won’t have any regret after acting, for any of your actions, whatever the price does after your actions.
In europe, fxcm activtrades and dukascopy have low spreads. When choosing a broker, check out how each reacted when eurchf cap lift was anticipated to know wich are less ‘market-making’ than the otehrs.
I can’t help you with your 2nd question. On your 1st, in my opinion “is it enough” the short answer to that is depends. Your long term goal is to put as many of the probabilities for success on your side as you can.
In the beginning “enough” might be quite different after you tested your trading method for 3 months. For example I sometimes trade a break out strategy that when I first tried it, I set my take profit at 20 pips and my stop loss at 10 pips. After reviewing my trades for a month I found that my take profit was being hit way more and earlier with a 20 pip take profit and a 10 pip stop loss. So with the information I had available after a month, I moved my profit to 30 and kept stop loss at 10 for a month. After review I found that it was time to move the take profit again, so I moved it to 40 take profit and a 10 pip stop loss. Now it’s still on average produces more winners than losers, but not as many winners and a few more losers; but overall when I hit is 40 pips, when it I lose it’s only 10. Anyhow that’s how I do it, other traders may back test to find the “enough” and still other’s might start with 50 pip take profit and move the take profit and stop loss down in stead of up. Like I said depends. That’s my 2 cents anyway
Yes “Enough” for some can mean not enough for others.
I will back test what i am currently doing and keep on doing it to see how i am doing over all.
Even 10 pips loss and 20 pips win you win double that loss.
There was a video on Youtube about overall betting on odds. Like if you lose only 1 usd and win 2 usd even with 100 plays if you win 40 and lose 60 you win because you win (402 = 80 ) ( 601 = 60) ( 80 - 60 = 20 profit ).
The thing that i recently read is that most people don´t calculate losses they calculate what they can win. I don´t wan to make this mistake i mean i wan overall to have profit but it doesnt depend on me. So far so good :).
@ImBatman I didn´t even heard about “SNB disaster FXCM” I will read for it more. Back in 2012 i think FXCM had some kind of error in the chart of EUR/USD I think if i remember correctly the price jumped up by 30 pips for a half a second and a lot of stop losses got hit. But the Chart on other Brokers wasn’t the same. I don´t remember if it was EUR/USD but i was reading a lot of people got pissed off by that.
Yeah they went bust essentially and had to get bought out or something. Plus they said they wouldn’t chase people with negative accounts and they actually did. Avoid FXCM is generally the consensus I believe. Best of luck ~ImBatman
In case you refer to the ‘good pairs’ to the majors than a 5 pips spread is huge and just about any broker will qualify.
Signal confirmation is just for suckers. Something I have learned that the closed trade is the real signal confirmation.