*Official* Forex Trading thread.

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Sotooong

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Newbie reporting in. Can I ask what's the meaning of scalp?

Mr.Canberra said:
So what if it even moves to 1.20? Since you have already closed your short position why worry? EUR and GBP not easy to trade.

Don't worry and be happy. Trade currency pairs you are comfortable and confident with to make money. :D



Which currency pair? Long or short position?

Each major currency pair and cross have its own characteristics.

Most importantly is what is your strategy? Swing trade, scalp, positioning, etc. Mine is NO STOP LOSS and SCALP strategy!

SGD park in Savings/Fixed Deposit only earn peanuts interest. Might as well park in Forex trading account for better ROI. If position stucked just let it rollover for 3-8 months and earn Cai Png/KFC/Din Tai Fung profits. Haha. :D

By the way yesterday took in US$201 profit. NZD/USD short position tio stucked since 1am and can close shop for the week liao. :s13:
Click to expand...
 
Mr.Canberra

Mr.Canberra

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Scalping

Sotooong said:
Newbie reporting in. Can I ask what's the meaning of scalp?
Click to expand...

HerbalTeaSeller posted a link on it already.

I scalp but no stop loss. :s13:

Scalping is mentally very exhausting and requires absolute focus. You literally cannot eat and cannot sleep when you are in the game as the action is fast like playing video games.

If you like this strategy then start with micro lot trading first to practice and get used to the volatility. The more you trade the more you will learn and have confidence. Then slowly upgrade your lot size to maximise gains per pip via small price movements.

Micro Lot (US$1000): 1 pip movement is US$0.10
-> Cai png gain/loss

Mini Lot (US$10,000): 1 pip movement is US$1.00
-> Cai png or KFC gain/loss

Standard Lot (US$100,000): 1 pip movement is US$10.00
-> KFC or Din Tai Fung gain/loss

When it comes to scalping technical analysis is very important. Learn all fundamentals and terms well. Long or short also can make money.
 
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Mr.Canberra

Mr.Canberra

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FOREX TRADING PERFORMANCE 2016

30/06/16 - 30/06/17 [2016 ROI 27.61%: S$4003.67]

For own reference and tracking. This excludes profit from physical cash/gold trading and other non trading Forex gains.

This month I can take vacations in peace after taking stock and knowing my moderately good investment health.

Hope readers have benefitted from some of my calls and info. I wish all Forex traders huat big in 2017! :s12:
 
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Mr.Canberra

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Got got my Jun Month End Statement.

Total trading turnover volume is US$4,120,000.

Hahahahaha broke personal new record! :s13:
 
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Mr.Canberra

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EU

philipsony said:
short again at 1.17 lor :s13:
eu got so many underlying problem cover under carpet, once in a while will surface one
they just bail out 2 italy bank and 1 spain bank in low profile manner
Click to expand...

Inside EU have some black sheeps that are leeches to the system. Also many zombie banks waiting to collapse and taxpayers have to bail them out every time. :s13:

The whole idea of creating EU is to prevent wars. This is history. :D

You look at ang moh countries. A lot of welfare is an entitlement not privilege. Opposite of Singapore. In ang moh countries some purposely do not want to work. If live frugally on welfare cheques and food stamps can survive. At the side do some freelance that pays cash only. Off the books income. :p

In Sweden when you have children their government support all the way till 19 years old. Free healthcare, schooling, monthly allowance and many other perks. Singapore pales in comparison.

https://sweden.se/society/10-things-that-make-sweden-family-friendly/
 
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Mr.Canberra

Mr.Canberra

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USD

Will the market prata this week and USD back off from weakness?

5th July 2:00pm
FOMC Minutes
Meeting of June 13 - 14, 2017
 
Mr.Canberra

Mr.Canberra

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Wow so quiet today? All celebrate 4th July is it? :s13:

Shiok lah mild USD strength is back! Stucked positions recovering so can scalp soon. :D
 
Mr.Canberra

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NZD/USD

awful999 said:
GxGx, wind lai liao :s13:
Click to expand...

Haha wind was good while it last. Last score US$140.40. When it comes to scalping hoot standard lot really have big difference if compared to mini lot.

Now NZD/USD short position stucked again since 11:34pm. :s13:

US markets have closed for holiday and re-open on 5th July. Less liquidity sometimes good for scalping. :D
 
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Mr.Canberra

Mr.Canberra

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Flash Crash

Be careful of flash crash during low liquidity trading days. :s13:

By the way SGD/JPY topping out soon at 82.281. Currently intraday high of 82.056. It has been 6.5 months since SGD is so strong against JPY.
 
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