Recent content by Forex-Jedi

IG are a solid, reputable broker. So if you mean “will I be able to make withdrawals without issues” then the answer is yes. I’ve been trading with IG for years and never had any problems. However, if you mean “if I lose my money spread betting will they refund it if I complain?” Then the...

Yes exactly, and for the SNB event many overseas brokers engaged debt collection firms in the UK (or wherever their clients were located). Many were made bankrupt, some settled out-of-court, it was a real shock to many hobby traders who thought they weren’t risking much, but the risk warnings...

Yes, you will owe your broker. You might think “how can that happen? Won’t they just close my positions automatically if my margin falls below the required level?” The answer is, yes they will do that if they can. But sometimes the market moves so fast or gaps completely that they are not able...

I understand what you are saying, but you are missing the point I was making. The example I gave was a daily pattern, but you could spot any pattern on any time frame and devise a way to exploit it. The actual pattern is not the point, devising and testing the exploit of the pattern is the...

It would have affected the outcome because you would have known in advance what the probability of success would be, and could manage your risk accordingly. Just trading on what you *think* is going to happen is, to be blunt, gambling. You need to have a trading plan before you trade. There...

“I buy a stock at $5 then put a sell in for $5.50” Why? What is that $5.50 target based on? Gut feeling? Before you put any trade on, you should know the exact probability and impact of every possible outcome. You can only know that by backtesting backtesting and yet more backtesting. Only...

To be honest, I think you should stop trading for a while, or at very least switch to demo. I’d be very concerned if I found that losing in trading was, as you say taking all my focus and causing me stress and general negativity. Life is too short for this. If your emotions are running high...

I tell them I sell cable and fibre.

Gaps can swallow your capital unexpectedly in a very short time. Guaranteed stop losses are fine, but they're generally only offered by market makers. Nothing wrong with market makers per se, but not what everyone wants. Another method to limit exposure is to choose a broker that offers...

Pretty much every broker has a free demo account.

For me it was pure curiosity. I never thought about being rich or driving a Ferrari or anything like that, it was obvious to me that to make serious money you'd also have to risk serious money. I would occasionally hear that the price of oil had gone up, or the dollar had fallen and I wanted to...

Not necessarily. In my opinion, by far the most difficult part of trading is developing a profitable strategy. Hard, frustrating work that takes a long time, but is ultimately rewarding. Once you have a profitable strategy, you might think that's it, your rich. All you have to do is trade that...

Why would successful traders want to share knowledge and techniques that they have spent years and considerable sums learning themselves? My attitude is "let others learn the hard way, like I had to" At the end of the day, trading is a zero-sum game. I make a profit because other traders made a...