MD clossed second trade with only 2 pips lost.Yesterday night results are 7 pips profit.
Mine closed 2nd trade with $0.40! haha
My demo FXDD account is a maniac - another 5 winning trades again last night. Itās the same pattern as last week. The account has 2 charts, one with risk 0.1 and one risk 0.3. It opened a sell on the 0.3 chart, 10 mins later it opens a buy and runs them together for a while, which seems mad to me. Then it opened up two longs on each chart, closing them and hour and a half later for stacks of profit, i.e. $400 on a $10K demo account. The S/L seem massive as do the TP, but they always close a lot sooner than the set TP. I really donāt understand how MD trades.
I have a question, do UK users have to pay tax if they use a US broker?
many thanks
V
My MD on ODL UK managed to scrape a measly 4 pips. Still, itās better than a kick in the unmentionables.
VinnyJ - sounds like your MD has gone crazy or maybe the spreads on your FXDD demo are very small.
Interesting question about the tax - I suppose that if a UK user stays out of the US, (s)he only needs to consider the UK tax laws which allow spreadbetting to be tax free as long as it is not your main source of income. No idea what the US authorities would think though 
I think the lotsize is not doubled because because you closed the trade manually. If it had hit the stoploss it would have doubled.
The second trade ended up with a lil profit here as well. Almost couldnt sleep last nite 
Hi,
I have started to trial FXDD. This is a 4 digit broker and the spread is 2 pips. I am using one chart with a .3 risk and 100,000 account with a leverage of 100:1.
Last night it made two trades, made 21 pips for a profit of over $4000. So similar results to Vinny J just not the same number of trades.
I dont think this counts as āSpread Bettingā and I am assumeing that if you were based in the UK you would have to pay Capital Gains Tax.
I defer on the CGT question, I must admit I should do some homework on this.
Just Checked:
Forex is liable for capital gains tax:
hmrc.gov.uk/manuals/cg3manual/CG54150.htm
Which is 18% once you have used up your yearly allowance allowance of Ā£9600
I had two trades with the MD yerterday, one was a winner and the other was starting to look like a looser. So i took control of it and turned off the Expert Advisers and pushed the stop loss way below the resistance so i would be able to catch it on the way up in a few days/weeks so i dont get a loosing trade. Well when i woke up it was +/-30pips in the positive and i was happy with that.
Look out people its a small double top on the EURUSD and i have placed a few small trades to down down.
sweet.
PS: working on the FXbookā¦ not installing for some reason? emailed them to see what is what?
DOES ANY ONE ELSE SCALP HERE?
Thanks DL - I think I have a fair distance to go before I owe CGT on my trades :o
I would scalp if I had a clue.
OMGā¦ you have to be kidding? i stared 62 days ago with Forex and have been scalping non stop. small trades all the timeā¦ loads of losses and loads of wins.
You have to start some where.
last night no trade ( IamFX usa.)
My problem is I donāt have time. I think you really have to sit in front of it to scalp, right?
EDIT forgot to say, no action on ODL last night
No Trades last night - FXDD Demo Account
MD had a trade for me. (FXCM on ForexVPS, -4 GMT, unsure if it was -4 GMT, or 0 (auto) as per server)
2010.01.13 18:18, sold .1 lots, + $11.05
[I]offtopic[/I]
As for āscalpingā I donāt know what it is either. I have been looking at the 15m timeframe USDCHF as it has been very wavey lately. I got in with a few trades.
Indicators - PSAR (default)
EMA - 7
EMA - 21
sold .2 lots @ 1.01832, closed at 1.01626, + $43.89
sold .3 lots @ 1.01620, closed at 1.01606, + $4.47
sold .1 lots @ 1.01563, closed at 1.01426, + $14.61
total + 62.97
(not to mention other currencies that were winners for)
I am hoping to be successful in the hour and a bit I have at home to trade with, in the end, I go to bed, and MD makes me 10 or 15 while I sleep. It is good enough for me because I donāt go to bed being a loser.
My 2 cents.
22:37: Long Trade Entered 1.4498 - FXDD Demo Account
23:10 : Trade Closed 1.4508 - 10 Pips Profit
Entered 2 long trades. Not to sure about this because the first one was double lot size as MD figured out my last trade was a loser. So tonight will be a big win or a very big loss.
Do you have agressive mode on?
MD jus place a long order at 22:36 so far iām happy with this trade
Second trade closed ( strategy 1 ) with a 10 pips profit.
Edit: First trade also closed, 14 pips profit.
$550 profit for tonight, that should cover my last loss. I really like this recovery mode