How to make money trading the FX market

This is a discussion on How to make money trading the FX market within the Forex forums, part of the Markets category; Originally Posted by keen246 It seems like you are a tad out of touch with the actual FX market. Nowadays, ...

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Old May 24, 2016, 6:17pm   #61
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Originally Posted by keen246 View Post
It seems like you are a tad out of touch with the actual FX market. Nowadays, most brokers offer spreads of 0.2-0.6 pip. So, you can scalp for 3-10 pips and make money. The commission is 8-10 USD per lot traded. With a decent winning rate, a scalper can make money. Sure, scalping is extremely difficult and most people will fail.
I wonder if you traded FX first hand as to assert that no retail trader can make money. I hope you have very clear that institutional trading is a complete different world from retail trading.
Hope you open a new thread and provide clear examples on why you think trading derivatives as retail trader is easier/more profitable.
Cheers
Look fella I am not out of touch. Nice idea, the 0.2 pips you are screaming and all that talk of ECN that's just "fugazi" for the novices and retail market. I know a few guys who run these bucket shops, now understand why they are all loving it. If you get 0.2 it means you pay a commission usually in your deposit currency, so in effect you end up paying more money when you have a spread like that. Also that's what it looks like, when you close the trade, the broker takes you for some more spread, hence in the old days spreads were called "invisible 1/8ths" because they are invisible.

To even suggest a broker will compromise his pockets to benefit you is like saying a tiger took out his teeth before a good meal. I can see nativity is an epidemic in this world of retail FX. Good luck though, I am sure you will screaming a few months down the line at the same guy you are defending, when he pulls up to his Dacha in the South of France with a Bentley and you still have to ride the bus and get your tight spreads.

I am just good at sniffing bull**** rather than being naive. I was in the real belly of the beast and I just like to pull out characters who claim to know how "to make money" in FX and then make others feel bad for pointing out there evidently flawed notion.
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Old May 25, 2016, 4:49pm   #62
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Originally Posted by vanillaman View Post
Look fella I am not out of touch. Nice idea, the 0.2 pips you are screaming and all that talk of ECN that's just "fugazi" for the novices and retail market. I know a few guys who run these bucket shops, now understand why they are all loving it. If you get 0.2 it means you pay a commission usually in your deposit currency, so in effect you end up paying more money when you have a spread like that. Also that's what it looks like, when you close the trade, the broker takes you for some more spread, hence in the old days spreads were called "invisible 1/8ths" because they are invisible.

To even suggest a broker will compromise his pockets to benefit you is like saying a tiger took out his teeth before a good meal. I can see nativity is an epidemic in this world of retail FX. Good luck though, I am sure you will screaming a few months down the line at the same guy you are defending, when he pulls up to his Dacha in the South of France with a Bentley and you still have to ride the bus and get your tight spreads.

I am just good at sniffing bull**** rather than being naive. I was in the real belly of the beast and I just like to pull out characters who claim to know how "to make money" in FX and then make others feel bad for pointing out there evidently flawed notion.
It seems like your reading comprehension is a bit off. I’m not defending nobody and completely aware brokers are the worst enemy for a retail trader. It seems like you think you’re the only one conscious of that. Well, my friend: EVERYBODY knows the costs of doing this business! That’s why the business is so tough: you have to be so good as to cover the big chunk your broker gets and make some more for yourself. That simple.
It would be enlightening to see a thread from a “pro” beating the markets day in and day out, making 800% and showing to all of us FX traders we are so wrong, but something tells me it ain’t gonna happen (I’m also very good at spotting the BS).

Good luck with your campaing to draw people to your website.
Cheers

Last edited by keen246; May 25, 2016 at 5:09pm.
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Old May 25, 2016, 6:31pm   #63
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Originally Posted by keen246 View Post
It seems like your reading comprehension is a bit off. I’m not defending nobody and completely aware brokers are the worst enemy for a retail trader. It seems like you think you’re the only one conscious of that. Well, my friend: EVERYBODY knows the costs of doing this business! That’s why the business is so tough: you have to be so good as to cover the big chunk your broker gets and make some more for yourself. That simple.
It would be enlightening to see a thread from a “pro” beating the markets day in and day out, making 800% and showing to all of us FX traders we are so wrong, but something tells me it ain’t gonna happen (I’m also very good at spotting the BS).

Good luck with your campaing to draw people to your website.
Cheers
Good for you. Sorry to disappoint. You will get no such thing from me. I have nothing to prove. I had my time and made it pay. Trading is all I know so I will do it till someone physically locks me up, even making it illegal will not stop me.

By the way it is not my site. Like I said, there is no real benefit for me. I am just here to promote Options to all, if you know a better site please post it up. Or are you just one of those talkers, investigator, armchair, metal detector types?

I am the last guy you want to pick up. I am egotistical and condescending, in fact I am in therapy to curb my attitude, I know it is unhealthy but I can't help myself. The years of booze and drugs has really messed me up. So bring it if you must.
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Old May 25, 2016, 7:00pm   #64
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Good for you. Sorry to disappoint. You will get no such thing from me. I have nothing to prove. I had my time and made it pay. Trading is all I know so I will do it till someone physically locks me up, even making it illegal will not stop me.

By the way it is not my site. Like I said, there is no real benefit for me. I am just here to promote Options to all, if you know a better site please post it up. Or are you just one of those talkers, investigator, armchair, metal detector types?

I am the last guy you want to pick up. I am egotistical and condescending, in fact I am in therapy to curb my attitude, I know it is unhealthy but I can't help myself. The years of booze and drugs has really messed me up. So bring it if you must.
You put the trademark pal: "..I have nothing to prove.." Had you been on these forums long enough, you would know what that means. Made my point cristal clear for the informed reader.

I just wish I was so good spoting the next price turn as I'm spotting the BS on these forums.
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Old May 25, 2016, 11:16pm   #65
Joined May 2016
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Originally Posted by keen246 View Post
You put the trademark pal: "..I have nothing to prove.." Had you been on these forums long enough, you would know what that means. Made my point cristal clear for the informed reader.

I just wish I was so good spoting the next price turn as I'm spotting the BS on these forums.
Maybe you should have been a copper. Never too late, trading is not for everyone. Besides Joburg needs guys like you.

You can't walk the streets these days without being jumped bru.
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Old May 31, 2016, 1:24pm   #66
 
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Mr. Charts started this thread A morning scalping GBP:USD

The method in this thread was used with the first two trades, other methods with the other two.

A>B +23 pips
C>D -2 pips

The other two were larger profits.
All results win or lose on my blog and twitter every day I trade.
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Old Jun 7, 2016, 5:00pm   #67
 
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Mr. Charts started this thread A morning scalping cable

Trades A>B rising candles & G>H falling candles (both +10 pips scalps each) as on this thread.

Trades C>D (+47 pips) & E>F (+8 pips) used some of my other methods.

All results win or lose on my blog and twitter every day I trade, although no losers today.
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Old Jun 8, 2016, 5:18pm   #68
 
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Mr. Charts started this thread Another morning scalping cable.

A>B falling candle method +13 pips
C>D another method +29 pips

All results win or lose on my blog and twitter every day I trade
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080616cablemorningscalping.png  
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Old Jun 13, 2016, 8:21am   #69
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The first thing you need to do is to gather ideas and important details about forex trading. Learn it all and have have knowledge on how the market works. And then manage everything, so you won't encounter difficulties when you trade in this kind of business.
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Old Jun 13, 2016, 5:19pm   #70
 
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Mr. Charts started this thread Morning short term trades GBP:USD

A>B +38 pips falling candles method

C>D +11 pips was a different method

All winners and losers, FX and stocks on my blog as always.
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Old Jun 23, 2016, 1:48pm   #71
 
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Mr. Charts started this thread Two morning cable trades

A>B +93 pips using another method

C>D +22 pips using rising candles method
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Old Jun 30, 2016, 5:32pm   #72
 
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Mr. Charts started this thread Four morning cable trades
A>B used another method +24 pips
C>D falling candles break even
E>F rising candles +22 pips
G>H falling candles -2 pips

All winners and losers, FX and shares on my blog as always.
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Old Jul 1, 2016, 6:00pm   #73
 
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Mr. Charts started this thread Just the first trade out of three short term trades this morning used the falling candles method

A>B +32 pips
C>D +3 pips
E>F +19 pips
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Old Oct 25, 2016, 5:06pm   #74
 
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Mr. Charts started this thread I'm still trading FX sometimes though I prefer US stocks.
Here's a GBP:USD trade from today using this particular method.
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Old Nov 7, 2016, 6:22pm   #75
 
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Mr. Charts started this thread Sometimes I can see mood changing in the flow of price and rejection of levels and creating potential reversal points like this morning on cable.
It was so pronounced I went in quite heavily to take 23 pips.
Images taken at time of entry and time of exit.
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