Recent content by scott_miller

Scalping is a good trading style for those who have more time on their hands and know the best times to trade. They have to be focused on the charts and "feel" it, but for me it's too time consuming. Longer trades that pan out for days and weeks are less stressful and provide similar or slightly...

Luck exists, but preparation and a solid plan limit it's importance. It's like in professional sports - the best players are almost always luckier than the lesser ones - just because they prepared better for when it's bad and good luck.

Discipline and stability are the cornerstones of any trader's success no matter their approach. But a lot of that discipline comes from experience. So consistency is important, but to achieve it you do have to go through some bad periods. The trick is to lose less money during them.

Scalping is indeed the closest one can get to mechanical trading. The problem with that is that there's some tiredness and fatigue at some point and mistakes tend to creep in.

I'd steer clear. The website design seems just like any other scam (although it starts with a disclaimer). Checking the registration date - registered just this January.. so no solid track record.

Nice story, hope it end well in the black. Forex is just like a profession, takes time to practice and master.

The money printing race is going on full steam in the US and EU.. we're the ones losing from this, while still trading two weak currencies.

There are two approaches to small moves - either ignore them, or scalp on them. Depends on the style and experience of the trader. It's true newbies tend to get excited the second the price starts moving in their direction, but it's the long run that counts. I've personally moved slightly away...

The article makes some good points but doesn't go into all the details of how discipline and patience can be achieved. It really does depend on your personality and your expectations about trading. Modifying them is the underlying challenge and helps you build your patience.

Not the last time we read such an article..

30 pips might seem a little now, but they could be more than enough for some strategies.

In terms of concentration and ability to make clear decisions - it's best to trade during the standard work hours in your time-zone. Ideally there would also be enough daylight to keep you on your toes. However this doesn't mean that this would be potentially your most profitable session. I had...

Arbitrage in forex is something to be done with larger accounts imho. And for me the other risks outweigh the rewards: having to wait for the exact moment to place three trades (for true arbitrage), doing it quickly and precisely is just not worth it.

If you are one of the few lucky ones that manage to make a profit then one way to protect those profits can be just moving from one regulated broker to another. Just like arigoldman said: ECN brokers manage larger amounts of cash and wouldn't be too worried by those profiting.

Hi Anton, isn't it too early for the downtrend at 1124? From the other charts you show and the corridor that Gold is currently in, isn't the next solid resistance higher, maybe around 1160?