I’ve been lurking the past few mos. Made a few replies. BPs seems like a great community! I am glad I found it!
A few years ago I was trading stocks and options in the classic fashion of not knowing what I didn’t know… which was a lot!
Love to read and learn and have been doing quite a bit about forex over the past 12 mos or so.
Have been doing the demo dance. Love to study charts! Sounds silly - I know - but will spin a pair back a year or so on MT4 daily and go candle by candle marking my entries/exits. It’s helped my chart reading considerably.
I seem drawn to S&R/VPA/trendlines & price action - they are all interwined for me and can’t imagine using one without the other. Also, this has helped to keep my charts clean.
At this point I’ll be opening a live account with Turnkeyforex trading micro lots.
Looking forward to participating in the forum and getting to know the folks here!
Welcome @frandlost ! There are a lot of us here that trade using S&R and PA, so you are in good company.
I will be starting a thread soon in the Trading Systems forum that will show how to trade Forex using futures options. Given your background you may find it intriguing.
Absolutely right @purtle the way @frandlost has described his trading experience is clearly depicting that how much he is enjoying trading. and if someone love his work then he is surely gonna be very successful in that.
@purtle, The only thing I knew about bitcoin was that it was bitcoin. I don’t know much about the cryptos but wondering if I may have to learn based on some issues US traders are having with withdrawls from overseas brokers.
I definitely think you should take the time to read up on it even just a little bit. I don’t think we’ll see the end of bitcoin any time soon and we may see more of it even! Wish babypips had a crypto school also actually.
@purtle, Agreed! From what I have been reading on the BPs, cryptos seem to expedite the withdrawl process for some traders based on their location and that of their broker.
@CoinLady, I was looking at LMFX to maximize my return based on 1-2% risk per trade from my small acct, with the understanding leverge “cuts both ways”.
They have good reviews from US traders. They’ve reached out to Clint in the “Going Off Shore…” thread, and my limited experience with their customer service has been good. In addition, fwiw, their site classifies them as an STP broker. However, it sounds like - can’t always go by “hear-say” - that US clients have been experiencing a bit of a challenge on withdrawls. I believe this has more to do with the institutions the transfer has to go through on it’s way to the final acct than LMFX themselves. Still, I found this concerning.
I discovered Turnkey in the “Going Off Shore…” thread and decided to take a look. While their leverage isn’t as great, it states that an ECN account is available with more aggressive quotes/spreads. Again, is it actually a true ECN acct? I don’t know.
I am new to forex. Not a high roller - bankrolling my account from coffee can coins - and have learned from my limited past experience that cash preservation is king! I’m trying my best to do my due diligence but it can be challenging.
@purtle, TRUE! It’s my understanding that some folks use it for the initial withdrawl from their broker and convert immediately upon receipt or something along those lines.
@basemax023, Thank you! I’m glad to be here! looking for to learning and contributing where I can!
I have to say that the Search function here at BPs has served me very well! Has allowed me to find a lot of answers to questions I’ve had. This in addition to the classic “google” has reaped bushels of intell. Of course all must be taken with an objective eye and sometimes a large grain of salt or two.
@purtle, I can’t speak to it in any type of knowledgeable way as my understanding of cryptos is next to nil. But I have read - and I’m sorry I don’t recall where - that some US traders were finding a crypto withdrawal from an offshore broker seemed to go more smoothly and quicker. As I have no experience in this area I can’t speak with any type of authority.
It may have been in the "Going Off Shore … " Thread. If not, I’m sure that someone in that thread could provide a clear answer as to whether this is the case or not and if it is a good work around.
