Fx lounge
- Thread starter howardroark
- Start date
i am very much scared to do scalping with lite4x. the strategy was like this below daily open .. start with a sell order of 0.01 lot. if the trade goes against hedge it with 0.01 buy trade.
if trade goes moves to profit hedge it with a buy order. try to scale in with another sell order below this ... so on and so forth. during news time .. if the price goes back to open line ... square off all the sell orders by moving it to breakeven ... now we are net buyer ... if price again retrace back down .. square off all buy orders on the way ... at breakeven .. try to balance the net open positions in profit.
sorry if i had confused you.
if trade goes moves to profit hedge it with a buy order. try to scale in with another sell order below this ... so on and so forth. during news time .. if the price goes back to open line ... square off all the sell orders by moving it to breakeven ... now we are net buyer ... if price again retrace back down .. square off all buy orders on the way ... at breakeven .. try to balance the net open positions in profit.
sorry if i had confused you.
With this kinda strategy, at the most u wil BE or protect yr acc, nvr b able to make profit ...
1st, u shud nvr scalp
2nd ... Hv 2 different strategies ... 1 for trend trading, 1 for counter trend trades ...
Write down your entry n exit and trade management rules and always stick to them ... market will outlast u, me n generations to come ... do nt be in a hurry ...
Do not try to trade every tick and signals ...
Learn to validate and invalidate the signals ...
Trading is all about "WHAT DO I SEE (Acknowledging a trade-able set up) ... WHAT DOES IT MEAN (Qualifying the trade-able set up) ... WHAT DO I DO (act)?"
Regards,
1st, u shud nvr scalp
2nd ... Hv 2 different strategies ... 1 for trend trading, 1 for counter trend trades ...
Write down your entry n exit and trade management rules and always stick to them ... market will outlast u, me n generations to come ... do nt be in a hurry ...
Do not try to trade every tick and signals ...
Learn to validate and invalidate the signals ...
Trading is all about "WHAT DO I SEE (Acknowledging a trade-able set up) ... WHAT DOES IT MEAN (Qualifying the trade-able set up) ... WHAT DO I DO (act)?"
Regards,
Hi Howardroark,
I have been involved in fx trading for some time. I am seeking help about deposits/withdrawls. I have been able to deposit and withdraw without hassles, but these have been small amounts. Not sure what the implications would be with the advent of GST in India - i plan to move to fx business full time soon. Can you share your thoughts?
Would you want to connect over skype to be in touch?
Thanks
Vicky
I have been involved in fx trading for some time. I am seeking help about deposits/withdrawls. I have been able to deposit and withdraw without hassles, but these have been small amounts. Not sure what the implications would be with the advent of GST in India - i plan to move to fx business full time soon. Can you share your thoughts?
Would you want to connect over skype to be in touch?
Thanks
Vicky
NSE is taking its own time launching futures contracts in EUR/USD and others. I hope they do that post haste since the announcement regarding this was made like 1.5 years ago. If it does come to pass, it will launch a whole new arena and very good alternative to Nifty trading. My earliest beginnings were in forex. Now it's commodity.
IMPORTANT INFO ABOUT HOWARDROARK , please do read. Cant post here due to traderji's policies
https://goo.gl/9jZigt
https://goo.gl/9jZigt
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