why categorise day /short term /scalping just see them as opportunities to make a profit, though you do seem the sort of person who wants to be in the thick of the action .Just practice with the minimum amount first .people can tell you all their knowledge. we all different and relate to situations differently, you have to learn by experience.
this is perfect, and I learned the hard way starting out lol focus on learning the skill and the money will eventually follow
ok good luck
Franc, if you’re intent on scalping the forex market I suggest that you scalp in the direction of the prevailing trend. See the thread linked below for an excellent way to pick your scalping pairs, shared by @Trendswithbenefits
Thanks for the info. Also just curious, where did you get the name Franc from?
From you! You signed the first post as “Franc”. I thought it to be strange given your user name but I figured you know how your name is spelled.
Aha! Just a typo… I am like here thinking who the hell is Franc? lol anyways thanks for pointing that out.
The reason why i said only for 6 month demo trading is because after i plan on opening up an account that allows micro or mini lots just to get used to the emotions that arise during real live trading. I feel like staying on demo for too long is bad because there are no emotions involved. Let me know what you think. Thanks for your help
I concur. Once you learn the mechanics of trading and get a feel of placing orders and such I feel you should move to a live account as soon as possible.
However as a newbie your chances of blowing a live account are very high, especially if you’re going to scalp. So, I suggest opening a $500 account with OANDA because they allow you to trade with lot sizes as small as 1 unit and don’t have the usual minimum of 1,000 units. This gives you fine grain control of your risk.
Once you prove to yourself that you can accumulate pips then you can slowly increase the deposits and your risk level.
thank you.