Forex Guide answers:

Yes you can. However in my opinion, this generates a lot of spread paid to the broker and may not be the most cost efficient. Besides, this boils down very often to mere gambling.

Please feel welcome to read more about forex at my forex learning blog.

Forex Guide answers:

Www.oanda.com

Forex Guide answers:

One should really develop a winning strategy before trading with any real money. To do otherwise is simply gambling or speculating…that’s for Vegas.
One of the best resources available for beginners is without a doubt babypips ( google it)
Tons of free info.
Starting with 800-1,000 you probably be wise to trade a micro account to avoid margin calls.
I suggest using MetaTrader 4 with your broker and a practice account till you get a sense about not only how to trade but what to trade.
There’s lots to learn and having the time you have, you should be able to learn a lot quickly.
Good luck!

Forex Guide answers:

First of all have you practiced trading the forex market with “virtual ” money.
Many people when they enter the forex market only seeing how much they can make but not how much they can lose. I STRONGLY SUGGEST THAT FIRST YOU PRACTICE AND REALIZE HOW EASILY MONEY CAN COME & GO AND HOW QUICKLY YOU CAN PUT YOUR SELF IN DEBT. That realization must come first before you start with real money. Try Investopedia.com or maybe even forex.com has a demo mode,

When you start using real money it is always a junior mistake to say i need maximum profits. GREED IS NOT GOOD. Take what you can and get out. It has to be treated in baby steps.

My last point is “Money does not have a soul only humans do so you can love money but money can not love you back”

Forex Guide answers:

Use Technical Analysis in your forex trading decision.

With candlestick charting techniques, early signal of trend reversal is clearly revealed which you will not find it in traditional bar charting techniques.

70 Japanese candlestick charting patterns are featured in this website that provides a better understanding of each individual candlestick patterns with detailed explanation.

Forex Guide answers:

I think you’ll find that they each have their own pros and cons. I personally trade with Oanda, because they have really tight spreads, although they do get larger when big news comes out. They do allow you to scalp. The only real downside is the leverage isn’t that great.

Hope this helps

Forex Guide answers:

I have never heard of any automated system that actually worked. There are a lot of people who will try to sell you a bunch of expensive software packages of question value however. Be careful.

Forex Guide answers:

I would suggest you to develop your own trading style based on some technical and fundamental analysis. A mixture of both will definitely help you to catter better results.
I am using Finexo as my forex trader and i use Scalping and Day trading both to increase my earning potential. For further information on Trading styles you can check out my blogs on forex.

Forex Guide answers:

The best way to learn is to test strategies out until you find a couple that work for you. Scalping is an art in Forex, but auto trading is a very powerful method. Find the one that you are comfortable with.

Forex Guide answers:

I have traded both MB Trading and FXCM live and have not had significant liquidity issues with either. However, to answer your question as to whether “most online brokers” are good at “hitting your limit buy and sell orders” mainly depends on the position size your attempting to enter the market with, the time of day and currency pair your attempting to trade.

And to answer your question whether your “simulator” will work with “one of these brokers” really depends on which code the simulator was created in. Is it an Expert Advisor coded for Metatrader? If so, MB Trading does not yet support the Metatrader software ( though are Rep there tells us they are working on it). MB uses the MBT Navigator which is much more difficult to create auto trading software for. FXCM recently began using Metatrader in conjunction with their FX Trading Station 2.0. Their Metatrader platform has huge drawbacks including not allowing demo accounts, not supporting multi-user accounts, and reportedly experiencing problems communicating between their FX Trading Station trade servers and their Metatrader Trade servers. I would recommend you google “Metatrader broker reviews” and find the brokers that best works for your situation.

Forex Guide answers:

I can share with you my scalping tech.
I call it scalp the 10 second chart…
Email me for more info

PS:profit 5% for december

Forex Guide answers:

Forex scalping is one of the most used and highly demanding forex trading strategies nowadays.
If you don’t want to waste hold day you can certainly use Scalping as a trading method. It is nothing but playing with spreads. In the Forex scalping method a currency is bought at the Bid price and sold at the Ask price to gain the bid ask difference.

Forex Scalping is pretty easy to follow, all you need is a trading platform like Finexo.com

Make the most out of it using Scalping.
For further details on scalping you can surf:

Forex Guide answers:

What?

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I can tell you the following;

This broker is “up there” with high spreads.

This broker appears to have a “dealing desk“… Which means they lose money on news trades, scalping and other short term transactions.

They appear to have a policy of “no scalping” (many do). What doesn’t seem right is the fact that your loses are “OK”, but not your winnings.

This is a very highly “unregulated” industry. But they do fear “regulation”. I would put together my case & speak to a manager……. You must tell them in no uncertain terms that this action is unacceptable & not consitant. It appears that those that scream the most get their money back (it is possible)………………..

There are no good FX brokers. Only ones less bad than others.

I prefer a non-dealing desk broker. But they too can be very dangerous.

This is one of the hardest industries to work with. 90% of the people that try FX lose all the money in their accounts.

Know what you’re doing before you learn more “surprise” lessons…………..

Forex Guide answers:

I recommend InterbankFX (www.ibfx.com). If you’re located in the US, you’ll have to open an account with their US office, which means that due to regulations, your leverage will be limited to 50:1, and hedging is not allowed.

If you’re outside the US, you can use their Australian office, without the restrictions.

Regardless, what you want for scalping is an “STP broker with a multi-bank liquidity feed”.

Forex Guide answers:

Don’t shout.

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Scalping is not allowed because it works.

With the easy access to sophisticated computer systems and trading models it had become relatively easy to continuously grab small profits from high frequency trading.

We certainly would not want the brokers to lose money now would we?

Paul

Forex Guide answers:

Rick over at http://www.forexnewstrader.com is a master scalper. He scalps 1 min and 5 min candles, news events and serveral other strategies. Check him out.

Forex Guide answers:

The Forex Broker that I use accepts investment via Liberty Reserve, but they do the investing for the client. I have been using them for 5 years now and haven’t had any service issues and have received excellent returns.

Forex Guide answers:

You are asking several questions here.

1) Which forex brokers permit scalping?
Answer: Most retail forex brokers, dealer desk or non-dealer desk, all claim to permit scalping. It is in their best interest to attract as many traders as possible regardless of what the term “scalping” means to them. There are daily scalpers, hourly, min, second scalpers. All brokers dislike quick entry and quick exit traders, on the order of seconds that is. When you place a trade, there must be someone else on the other end to accept your trade. Brokers have the ability to pass your offer onto the interbank market. Unless your order size is large, it won’t be in the broker’s best interest to do this. They are likely to simply take the opposite trade that you take, in effect “executing” your order with the house (a casino term). At $1000, your best bet is to find a broker that acts like a casino and takes in every scalping order and executes it on the spot.

To date, the best one for this purpose is Oanda.com.

2) Interest or gains taxable?
Yes your interest is AND your profitable trade gains are taxed. You will be responsible for paying federal taxes, depending on where you live. In the US, you will face short-term gains tax rates on all spot forex gains unless you take other measures.

Forex Guide answers:

Whenever a system works, it does so by removing a little of the inefficiencies that allow it to work. The more you use the system and the more widespread the system’s use is, the less likely it is to work. Scalping has been around a long time so any current scalping system would be working on very thin margins on the brink of not working at all which is probably why so many have taken to selling their system rather than exploiting it themselves.

It’s relatively simple to come up with a system that seems to work but once you take into consideration the spread of the trade and the taxes, it’s quite likely there’s no profit and potentially a loss instead. The only mathematically rigourous system would be volatility pumping via Shannon’s Demon, however it would be very rare to find currencies with the volatility needed to overcome the spread and taxes of such frequent trades.

Forex Guide answers:

MACD gives the best results and it is easy to use as well. If the MACD line crosses the signal line it means that it’s good time for entry in the direction the MACD line were going. But remember to look for a short trade if MACD line falls below signal line and if it rises above signal line just go along. Now assuming that the price of the currency pair breaks above resistance or below support after the MACD crosses the signal line, then it would be considered as a signal of a big move indeed happening. Both the upward and downward crosses are explained in the diagram above.

Why wouldn’t MACD work in a range bound market? The problem is that in a range bound market, if you base your market entry points only on the MACD then by the time the indicator catches up to the current price, the price may have risen or fallen terribly to such an extent that making a profitable trade would be near impossible.

The Euro was down on Wednesday as investors continued to price in the likelihood of an interest rate cut from both the European Central Bank and the Bank of England alt on today. The European Central Bank is expected to cut its core rate by half a percentage point to 1.5 percent, and the Bank of England is expected to lower its rate to 0.5 percent on Thursday, also by half a percentage point. Lower interest rates can weaken a currency as investors move funds to where they earn better returns elsewhere.

At 5PM GMT, the Euro was flat versus the dollar at 1.2573, down 1% versus the CAD at 1.61, and up slightly to the Swiss Franc at 1.4796.

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Be careful, you could lose your shirt !

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Never heard of that. Might want to switch to FXCM as your broker, if that’s happening to you.

Here is a site that will help you with your FX trading: http://comefollowme.zulutrade.com/Performance.aspx

It ranks the top 8000 forex strategies.

Forex Guide answers:

The scalping method is usually based on three factors:

Liquidity – The more liquidity in a market then the more attractive it becomes to a Forex scalper as they can make more profitable trades in any given period.

Volatility – Only the most stable of markets are attractive to scalpers as a big movement is not what they are looking for. A stable market offers the chance to gain lots of small profits from many many trades

Time – A successful Forex scalper will not always begin trading at the start of a day. True, the longer they have to trade then the more they can make but patience is the key since it is pointless trying to scalp the Forex if market conditions are not right, for example in a period of large economic uncertainty.

As you can see, providing you have taken the time to learn as much as possible about market conditions then Forex scalping methods are not that difficult to implement. In many ways they are much more secure than other methods and this is why the method is becoming so popular.