1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Does any fast trading really work?

Discussion in 'Beginners Bootcamp' started by allen1, Mar 23, 2009.

  1. allen1

    allen1 Recruit

    Joined:
    Mar 23, 2009
    Messages:
    7
    Likes Received:
    0
    Hi there, I am completely new here, with a question. Has anyone had any success with fast trading? Today I saw a website advertising forex auto money which is reviewed on this very helpful site as a scam. I believe the large number of reviews stating that it is a scam, so, I will not consider joining at all. But, the catchy video-game-like-preview on their website claiming to demonstrate how much can be made in a minute is fun, in a very simple-minded way. So, knowing that it was 100% ridiculous garbage from a scammer, I tried it just for fun and 'made' a little over half a million in 60 seconds. I am convinced that such a result does not exist. But, my question, has anyone had any luck with any fast trading in the real world? With a few or several trades per minute? Thanks!
     
  2. ChrisEccles

    ChrisEccles Private, 1st Class

    Joined:
    Feb 13, 2009
    Messages:
    46
    Likes Received:
    0
    I guess if you're prepared to jump on a solid trend 30 seconds after
    a news bombshell (like Uncle Ben's last week), and trade 1000 regular
    lots from your existing $10,000,000 margin, you could make that
    half-mio in under one minute, but that's NOT trading; that's putting your
    head in the alligator's gob and shouting "Bite !"
    -
    Chris
     
  3. Lhar_fpa

    Lhar_fpa Private, 1st Class

    Joined:
    Sep 8, 2009
    Messages:
    134
    Likes Received:
    0
    Sometimes we're attracted with anything that involves fast progress or "easy money", not realizing that there are disadvantages behind it. Like for example, the fast trading, it sounds good but its deceiving. Scammers do that, they deceive people with promises and guarantees, but i'm not saying that fast trading is not good. We just have to be careful with whom we are dealing to. That really matters.
     
  4. Stony

    Stony Sergeant

    Joined:
    Mar 21, 2009
    Messages:
    167
    Likes Received:
    2
    I´ve been trading for more than 3 years now, and meanwhile I´m convinced that in forex only fast trading, including scalping, can be successful. Only for very short periods one can predict the direction a currency pair will move with a certain probability of being right. But you can do this only with very small lot sizes, trying to make small profits with small steps.

    Regards, Stony
     
  5. Lhar_fpa

    Lhar_fpa Private, 1st Class

    Joined:
    Sep 8, 2009
    Messages:
    134
    Likes Received:
    0
    Hmmm,really. But I think scalping is more risky.:confused:
     
  6. ric1

    ric1 Recruit

    Joined:
    Jan 15, 2008
    Messages:
    8
    Likes Received:
    0
  7. Lhar_fpa

    Lhar_fpa Private, 1st Class

    Joined:
    Sep 8, 2009
    Messages:
    134
    Likes Received:
    0
  8. elah024

    elah024 Private, 1st Class

    Joined:
    Sep 9, 2009
    Messages:
    64
    Likes Received:
    0
    what made scalping risky for traders?
     
  9. Lhar_fpa

    Lhar_fpa Private, 1st Class

    Joined:
    Sep 8, 2009
    Messages:
    134
    Likes Received:
    0
    Scalping is risky because traders allow their positions to last only for a matter of seconds, to a full minute and rarely longer than that. But not more than a minute. :p
     
  10. Music Man

    Music Man Corporal

    Joined:
    Aug 8, 2009
    Messages:
    91
    Likes Received:
    0
    Q: What's riskier than being in the market a short period of time?

    A: Being in the market a long period of time.

    :)

    MM
     

Share This Page