Scalping strategy to finish the year strong

You really need to be careful about it at be watchful

I have watched it. BUT how does he have the ability to exercise 8 lots with just a 2k balance?

@rocktrucker
I have always heard there were brokers with 500:1 leverage, Crazy.
Max USA is 50:1.

it is crazy

(thereā€™s even one that advertises 2,000:1 leverage!)

theyā€™re all ā€œbrokersā€ that have chosen either to be completely unregulated, or ā€œregulatedā€ only in soft-touch countries where the regulatory outfits are funded by the brokers and never rule against them

theyā€™re fine ā€¦ until you try to withdraw any profits! :woozy_face:

(they have almost no profitable customers, of course - and no long-term profitable ones at all)

Europe 30:1 (including even Cyprus, which is as ā€œsoft-regulatedā€ as you can get)- but as anyone who has ever worked in the industry will tell you, if that isnā€™t enough leverage for someone, they shouldnā€™t be trading at all

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Yes I have one that will let you do 500:1 not that I do that. But Iā€™m wouldnā€™t be able to squeeze out 8 lots out of a $2k balance with or without leverage. Mineā€™s based in Australia and regulated there.

OMG yea he does.

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@flamingoproxy

I didnā€™t know Europe was maxed out at 30:1, Iā€™m surprised just because I thought the USA was typically the most overregulated on Earth.

There seems to be mixed peopleā€™s thoughts on a maximum in Europe?

Another enjoyable, stress-free day of trading

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really?

itā€™s actually terribly simple: thereā€™s no ā€œmaximum in Europeā€ as such, obviously, because thereā€™s nothing to stop anyone in Europe from having a forex account with an unregulated brokerage on Mars that offers leverage of 10,000:1 (if they can find one, and if theyā€™re naive enough!)

but thereā€™s a maximum of 30:1 leverage available, by European Union law, for accounts at a brokerage regulated in Europe

simple enough, really?

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Iā€™ve got 1:1000 leverage on IC markets. They are a highly regulated and reputable broker.

In my opinion, leverage doesnā€™t make any difference if one doesnā€™t know how to manage risk.

Iā€™m waiting on my eurusd trade to conclude. Hopefully in next 2-3 days and then move to 1m timeframe (maybe).

Being sitting on a trade for 4-5 days is getting to my nerves but at the same time, I donā€™t like the anxiety that I feel trading 1m timeframe.

A bit confused here TBH :confused:

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@s22d

Boy, just when you got me thinking I should try some of the higher time frames, here you go looking at the m1. Haha.

But seriously, I love the m1 and M5 but I no longer fear if it turns into a D1. Just donā€™t need that to happen very often.


Set my stop loss at 10.

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@AmericanTrader

Hahahaha. I guess thatā€™s out of boredom, at least for me. Would like to be done with trades in a 4-5 hour window daily but then again at times, these trades on lower timeframe can stretch out time and time again.

I guess Iā€™ll trade lower timeframe on demo for a week or so and then make final decision.

@s22d

Good plan. I think you will find most days you can be done in a few hours.

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His website says Location USA Bakersfield, CA.

However, his youtube channel says Location Lebanon.

:thinking:

@froghunter

I think the business address is Bakersfield, where he used to live. But not surprised if his home is Lebanon. there is no mistaking that Middle-Eastern accent.

@s22d

Howā€™s that Eur/Usd trade going?

Iā€™m buying it now. It may take a while to play out.

Still in it. Currently down about 70+ pips. Will keep managing it until it turns around and gives a profitable exit.