Patience. Simplicity. Discipline. The most important factors, yet the most difficult to grasp for most Forex traders. As a young trader who has experienced great losses as well great gains my journey has led me to this point. 1 TRADE. 1 PAIR. 1 STRATEGY. Once a day. [Posts will be made daily between 9pm-12am PST/ 12am-3am EST with the exception of most holidays]
Monday, October 18, 2010
A REMINDER ABOUT SPREADS
I was just checking out qoutes from a different broker than I use and noticed a 7 pip spread on GBP/JPY. I usually am given a 4-5 pip spread by MBTRADING probably due to the fact they are an ECN broker. I am posting my trades now with about 20 pip entry, TP, and SL zones to accomodate traders with different brokers. Usually a dealing desk will have a 1 - 4 pip differential in qoutes from an ECN. Just something to keep in mind if you are basing trades off my strategies.
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