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fxeconomist
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Posts posted by fxeconomist
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Isn't losing money a choice? As a beginning trader, I only take trades near support/resistance with volatility on a stock I know. It helps that there is a underlying market which is heavily manipulated by its home government. If the stock moves past the predefined support/resistance-I'm out. If I lost more than I could afford for that day-I don't trade anymore. Don't take anything with more than 3:1 ratio, taking half at 50% and letting whatever else run until it reverses by a dynamic margin. Now I'm not making a ton of money doing this-but I am profitable because my big winners heavily outweigh my small losers. I trade with 25% of my account because of its size, and factor in commissions(which by trying to "free trade" accounts I've kept to a minimum
. So unless I just lose my head and start trying to scale, or use too big a position, or not exit a trade as soon as it moves against me-how could I lose money?Could track decent money management in your trading description. I have approximately same trading setup but only for currencies, 1:50 leverage, no more than 0.5 lot size and fixed spreads (special Hotforex account). And my profits do outweight losses as well, because I my drawdown never exceed 0.5% of my account or i close the trade.
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It is true that no system will provide 0 losses. But that is not the meaning of "consistently profitable". "Consistently profitable" means only that profits are greater than losses, the greater, the better, but 51% is greater. For most traders, the losses far outweigh the profits.Money management is the core issue. All trading strategies (talking about techy approaches) are equally efficient, we just have to close losing traders faster and hold profitable trades longer. If you don't have trading plan do not trade forex.
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Glad my broker Hotforex survived. Still can't find alternatives to their zero spread account.
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You can contact the CS of your broker to have a precise answer.Yes I clarified. You need to provide your ID card to them and they will take decision.
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Yes, I'm also using HotForex at this moment. I'm pretty satisfied with the service and I haven't had any issue so far either.Hi FxFive,
What type of account do you have with them and what pairs are you trading? Looking for feedback of live testing of their zero spread account. Would really appreciate any input on this matter.
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Why trade with relatively unknown brokers when you have well-established firms available to you?Well established? Could you tell me more about them? What do you think about Hotforex, can we consider them well-known?
Thanks in advance for your reply.
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They were setup up for people of Muslim faith. Not geographic location.I live in a Muslim country and according to Hotforex requirements for opening Muslim account I just need to show my ID and that I live in a Muslim country, I guess.
What do you think?
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I wonder is it reasonable to use swap free account to hold overnight positions on "swap-expensive" pairs like USD/RUB? This particular pair has volatilty lowered on it but it still quite promising in terms of news trading like on CBR announcements or other fundamental internal events. Scalping is barely possible there so I consider moving on weekly trading.
What's your opinion on that matter?
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mean reversion is a theory suggesting that prices and returns eventually move back towards the mean or average. This mean or average can be the historical average of the price or return or another relevant average such as the growth in the economy or the average return of an industry.This theory has led to many investing strategies involving the purchase or sale of stocks or other securities whose recent performance has greatly differed from their historical averages. However, a change in returns could be a sign that the company no longer has the same prospects it once did, in which case it is less likely that mean reversion will occur. Percent returns and prices are not the only measures seen as mean reverting; interest rates or even the price-earnings ratio of a company can be subject to this phenomenon.
Maybe because investing in an asset overheats it's and sometimes it needs to cool down to launch the process again. I stick to the opinion that the higher is upsurge the deeper is collapse when it happens. What do you think?
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Trading without a stop loss is like driving without stopping at traffic lights. It may go faster, but you tremendously increase your chance of getting killed. :doh:Yeah quite accurate analogy. I always place stops in my trading, it's even done automatically by special software I found on FF.
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FREE HotForex Webinar!Topic: Position Management
When: 28 April 2015 1:00pm GMT
Learn how to manage your positions effectively in times of risk in this important webinar presented by our Chief Market Analyst, Janne Muta.
We will cover:
-Risk events and risk reduction
-Managing weekend risk
-Adding to winning positions
Register Now: https://www.hotforex.com/en/landing-pages/hf-webinars.html?id=127
Can I ask questions during the webinar or it's only permitted to present as listener?
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still with my ECN Tickmill account. because they had best trading condition for my scalping method. no issue with payment, and added 15% deposit bonus (withdrawable) upon my deposit.Yeah I also trade with Hotforex on premium. No issues so far
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HotForex: Get connected with the NEW HF Social Account.
Dear Client,
We are pleased to announce the launch of HF Social, our NEW social trading account service! HF Social is powered by FxStat, the fastest growing traders’ network in the world, and gives you access to the portfolios of more than 250k traders!
With HF Social you can:
Connect with other traders.
Share strategies and discuss breaking news.
Identify more trading opportunities.
Follow the traders that interest you the most.
Copy the most successful manual and algorithmic traders.
Build a portfolio of winning strategies and copy trades automatically.
React to market changes on-the-go on your iOS or Android mobile devices.
Diversify your investment and reduce your risk.
How to connect:
Login to myHotForex
Click Accounts > Open Account
Select ‘Social’ from the Account Type Menu and complete the short form
Click ‘Submit’
Get connected with HFSocial! Learn more here.
If you have any questions, comments or feedback, please do not hesitate to contact our dedicated Customer Support Team via myHotForex or live chat.
Best Regards,
The HotForex Support Team.
Yeah I also noticed this feature in my personal cabinet. Seems now I will be able to know other HF fellows making money abreast with me
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Join a contest is really a good step in improving your trading skill but I think getting 1st rank is not easy like you expected.Winners are usually aggressive traders with insane MM and max lot size orders. No chance to oversmart them
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I am new to short term trading, been investing for 20 years but have spent the last 2 years reading, studying, watching and learning shorter term trading and doing well enough to keep going but this problem scares me.I trade on Fidelity Active Trader Pro and I put a limit buy order in for 500 shares at $7.79, the DOM showed 5800 shares in the que at the bid of $7.79 and 6200 shares at the ask of $7.80.
My order of 500 shares bumped the bid at $7.79 to 6300 shares and I watched the time and sales, to my amazement after some time a total of 8760 shares were bought at $7.79 along with thousands of sub penny hits before the bid/ask moved to $7.80 then up and up.
How did my limit at $7.79 get missed if it was placed ahead of 2460 shares that came in after me?
The order I placed was place using the smart routing feature.
Could somebody please explain how this happens, I have other examples with some of over a 15000 share difference. I don't get it and feel I need to understand why this is happening.
Thanks in advance.
Have you tried to figure this out together with your broker? What was their explanation?
Most probably you got your order slippaged as it often happens in fx trading.
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brokers trust are not simple thing gained from just trading condition, or any promotional offers. it;s a thing need to built regularly, once it's broke it's hard to start over people's trust.I use many brokerage service for years, and there's only a few account who I held for long time. my ECN account with Tickmill (use to Armada markets) are among those long period account.
after the CHF event, my trust are getting more stronger as they fully protect their clients for negative balance. and for start over trader, they now offer 15% deposit bonus, wish I could another detail for registration because it;s only limited for new clients.
Got two my friends signed up under this promotion.
Very good conditions on bonus release, btw.
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It depends what do you need a broker for :demo, live?
Are you a scaler,, a swing trader?
Do you want a ECN account, a classical one ?
Do yu wish it to be FCA regulated or not?
I am using a Tickmill ECN account on demo to check them before going live, and so far so good : spreads are ok, service is reliable, so I am happy with it. But that's just my point of view.
Yeah that's a great broker both for newbies and trading experts. Have been using them since 2012, their low trading costs make their platform perfect for scalping.
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try looking at forexpeacearmy for reviews, give hotforex a check and do some research regarding your brokers of choice, best of luckWorthwhile recommendation really. Vote for Hotforex too.
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-------------------------------------------------------------------------------------------------------------------------------------FXCM Said to Be in Talks With Jefferies for $200 Million Rescue - Bloomberg
The biggest retail broker in US. Seems they had serious neglects in their risk management and didn't passed the muster. Would advice any traders who still stay with them to start search for a good alternative, as company will probably make impossible normal trading.
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Hi,I was wondering whether anyone who has a wider knowledge of the derivatives universe than I do could suggest any instrument that offers a moderate amount of leverage?
As far as I am aware there is a complete jump from the x3 ETFs to the Futures that are 50:1. The ETFs are obviously geared towards Buy-and-Hold, and the Futures towards very short term traders with smaller accounts or longer term traders with lots of capital.
Is there anything in the gap between these?
Thanks,
BlueHorseshoe
The more is supposed period of holding the asset (and the more is amount of investment) the less is leverage. Standard rule of investment game.
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You don't need to buy any books to read about position sizing. There is around a lot of free material that is even better and more practica, without the hype. Some examples:The Most Advanced Tool for Analyzing Price Action and Discovering Trading Systems
Yeah those resources embrace almost all important aspects of position sizing but lacks real examples. But nevertheless you can use your demo account to check the information for consistency, so to say
. Position sizing is extremely important for Xau/Usd pair, as well as for other comdoll pairs... -
I would suggest Hotforex using Renko EA, got it from forex-tsd, seems it is very powerful EA for trading on majors small position pieces, but still it is very good for big lots too. Check it out Hf has very appealing spreads and fast platform, maybe you'll like it..
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Most traders will be willing to get out of the market at the end of the day, as the volatility should pick up this morning. So rallies all the way up to the 1.2577 level will offer selling opportunities.Yeah I never hold positions overnight as my Hotforex applies negative swaps as well on EUR/USD. Intraday trading is far better if you are going to make short and small profits.
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i dont use ninjatrader yet, but based on what i read it required price data feed subscription. google for esignal, or just move totrading platform sub thread.I thought a broker is responsible for supplying the price feed. Otherwise there is no sense for newbies to have extra expenses on it while training. In this regard MT4 is considerably better.
Moreover, the quote flow goes from liquidity providers as forex is decentralized and prices are different everywhere. It is 1-2 pip difference with my Hotforex quotes and paid feed from CNBC feed, for example..
HotForex
in Brokers and Data Feeds
Posted
40 K is too high entry threshold for me. Current balance at Hotforex is only 12K:helloooo: