Hi guys, a quick question if i may, following the fallout from last weeks SNB decision.
I was with Alpari but now find myself in search of a UK broker with a decent reputation. I was with Oanda but ditched them a long time ago becaue of their price manipulation and stop hunting.
So far it seems that every broker I come across has some sort of neg review. Even today there was a post from a trader with FXCM that has been waiting almost a week for a withdrawal.
Can anyone recommend a no dealing desk broker that is punctual with payouts.
I have accounts with FXCM & Vantage FX UK. Vantage FX have been fantastic whenever I have needed help or raised a query, but am with FXCM mainly because I like the Trading Station platform. I donāt have anything negative to say about FXCM with the exception their weekend spreads appear to be pretty big and I have been stopped out in the past because of the spread widening over the weekend, but I have always had good support when needed.
Thanks for always pointing out things to let us learn.
May I ask if thereās any reason why you have not traded this year?
I ask because I find myself in a similar situation, I feel that there are many potential trades not being highly probable enough for me to enter. In fact, I suspect that Iām being too conservative in my trading.
Always eager to enter a trade to find out how well I can do, but always stop myself from doing so because I can almost always find reasons why the trade is not good. There are times when Iām right about not entering, and there are also times when the trade could have been a profit if I enter.
Gforce, just to share with you my thoughts and seriously no offence, I actually disagree with majority of your trades. But Iām really glad that you have made some nice profits here and there. Hope you dun mind me being so frank.
Iām a bit lost, and wondering if anyone can give me some advice.
If not, I guess Iāll just continue with my own trading style, and hopefully I will be a profitable demo trader, before Iām confident to go live.
I can totally empathise with you. I have been doing Forex on and off for a few years and decided just before Christmas to ditch all indicators, move to the higher time frames and focus on Price Action, with this thread and the free stuff at FSO being my new source of education.
Since following this thread I have felt more confident and started to read the PA better, but as yet I havenāt taken a trade using the FSO method. I am also slowly changing my routine to fit in more chart time every 4 hours but like I just said I havenāt been able to pull the trigger yet, but I know with some more time, research and learning that day will come and I hope compound nicelyā¦
I guess Forex is like drivingā¦we can all learn and pass the test and tell people we can drive, but it takes experience and time to get any good at it!
My current frustrations are identifying the support and resistance linesā¦mine seem to be somewhat difference to those shown on some of the most recent postings, and secondly, some good trades have come during the hours I am asleep and find myself trying to jump on after the price has bolted.
Must admit, come April time, if my progress is still slow then I will be signing up to FSO.
Hope this helps to reassure you there are many others reading this thread who are in the same boat as you.
Thereās nothing wrong with that, you dont get any prizes for overtrading.
If you arenāt comfortable with a trade dont enter it, there will always be another one
I have heard good things about dawinex but either way myfxbook Forex Brokers Reviews And Ratings | Myfxbook has some good info on which brokers are reliable. They also have live spread/carry/commission data to see who are actually giving decent prices.
Hi yāall. If there are disagreements with my trades i.e. entries, signals etc, please post a chart and explain yourself so we can all understand. Donāt copy and paste page 1, i can read that, but post an example that you have found on a chart yourself, or better still, post a live trade you are in and demonstrate your point. There have been a lot of excellent set ups so far this month. Please read the first couple of hundred pages for some of the nuances of this method, that i see some have missed or not grasped. Please know that I always appreciate and respect all feedback. But if no-one can post a live trade by this time next month, then itāll be difficult to take any further commentary seriously. Is that fair enough?
EUR/USD 4H BEEB off KHL. pending order set below bar 21st Jan. Price filled order and is falling like a knife through butter. 3RR locked in, going for 8RR. Who else took this trade? I am still learning this effective simple method, and so am making mistakes from time to time, but trying to refine them by posting my live trades and getting feedback from you folks which i much appreciate. So whatās the disagreement with this trade, and why didnāt you pull the trigger? G
Very good trade there g. Did you cash in on the eur aud as weāll. I missed the eur usd but if I had of seen that one I would been all over it looks like a great setup to me. Nice trading mate
Well done mate. Yes, i took profit on EUR/AUD. Set and forget is a style of trading that suits me, although this method does suggest some trade management options which is great too. I would pull my hair out watching price go for me, then against me all day going cross eyed in front of a screen. Thatās a healthy look!
I am in too Scotty, on D1 PB short with main trend off KHL. I note a BEEB on the H1 too for extra confluence. As long as PB closes within range of previous candle and sticks out away from price rejecting a key level, it looks good to me. A larger PB would always be preferred, but thereās enough confluence present for me to take the trade. G
Technically this would not be a tradeable BEEB per FSO rules because it did not close within the last 1/3 of the candle. As you can see, there is a very large wick on it showing a rejection which is also rejecting the VBRN 1.5, so this is not a signal I would look to take. Now that price has broken lower, I will be looking for a pullback to this key level to get me into this downtrend.
You mean the EUR/USD 4H Bearish candle on 21st january? Yes, Iām aware of that rule. That candle on the 4H 21st jan. (the PA i took) looks to have closed in the lower 3rd of that huge candle to me. In fact, most of that candles trading was done in the lower 2 thirds. Hope that clears it up. Thanks. G
EDIT: Ah, i see what you mean. Yes, i agree, the 4H candle of 22nd jan does not close in lower 3rd of candle as per FSO rules so i would not trade it. I took an earlier candle as stated on 21st jan and as posted previously/initially where you can check out reasons for that trade.
