I think this thread contains some valid arguments for offshore brokers. The main issue I have with them is the fees that I would be charged to move my money around. This is going to eat into profits depending on your deposit and withdrawl schedule. ...

Why every US trader needs to trade offshore

Results are going to vary from individual to individual. No two people are alike, and therefore no two people will achieve the same results from trading. Even the market conditions that are going on at the time you begin trading factor into success ...

How to make money consistently trading forex?

I agree with the fact that if you view it as "risk" capital then you will risk it and likely lose it. Some people's successes are born from the fact that they have no other option. Although it is not advisable at all, if you trade all the money in ...

from retail trader to full-time trader

Yes I agree. I was definitely talking from the perspective of someone trading a daily chart time frame. Gaps are very minor on this time frame and would have no real impact. When I am trading intra-day I don't hold overnight at all. On the other ...

To hold or not to hold trade during week-end?

What is the difference between MT4 and MT5 anyway? Excellent! I will definitely have a look into that. Thanks!

Why do so many people use MT4?

I have been wondering whether multiple time frame analysis is actually necessary at all. I have found no definitive proof that it does anything useful. I use it from time to time myself, but I have found that trends on higher time frames do not ...

W1/D1/H4 or D1/H4/H1 for trend analysis?

I agree. There is a saying that goes something like, "give 10 technical traders an indicator and you will have 10 different track records." More to your point, it is all a matter of perspective. There are always going to be trends within trends. ...

Reliable method to know when a "trend" has started?

In my opinion, nothing is "reliable" in forex. However, more to the point, I don't think there is any way of identifying the exact point when a trend has started. You can only identify the trend after it has already started. As some people have ...

Reliable method to know when a "trend" has started?

In my opinion, I think it depends. If you are trading with low leverage, then I don't see anything wrong with holding over the weekend. Gaps are a part of trading. They are not a big deal to me unless I am highly levered. If I am trading off the ...

To hold or not to hold trade during week-end?

Actually I use neither. I use TD Ameritrade for forex. I have heard nothing but bad things about both FXCM and FOREX.com. The only reason I am going to consider using them is because they are the only providers that allow you to trade forex in an ...

Why every US trader needs to trade offshore

Although for now I have no interest in MT4, I fear that in the future if I ever need to leave TDA and stop using Thinkorswim, then I will be stuck and have to learn a new platform that I don't like. I know I could still use thinkorswim for the ...

Why do so many people use MT4?

I believe that price movement is predictable, but only in terms of how you define prediction. Here's my 2 cents. As you stated, supply and demand are what drive the price. This can be seen visually on a chart. When one force overwhelms the other, ...

Is price direction predictable?

They can't see your position any more than you can see theirs. Only your broker knows your orders, and the market maker model brokers can act like institutional traders, and take advantage by actually seeing your position and trading against it. Of ...

How do you know all the positions held by big players?

Here's my 2 cents. Forex trading is a business just like any other. Every business has a certain level of risk. Forex fits in a high risk business type category. Just like insurance. Insurance is not that different than forex trading. The insurance ...

Stress and uncertainty and fear of failure in trading

The most break I have taken since I started is about a week, but I have only been trading seriously for 6 months or so. I need another week soon. Trading can be stressful. I do it full time now (not yet living on profits though), so I try to do ...

Did you take time off from trading?

I listen to hip hop music while trading. Not the most relaxing, but it gets me pumped up and motivates me to get on my grind and trade when I don't feel like it so I can have the finer things in life and live the American dream. I also watch videos ...

What kind of music you hear while you trade?

All brokers are crooks to some extent. Some are more than others obviously. However, the strict regulation of the US does still provide a degree safety that you would not necessarily get with an offshore broker. Now I am sure there are some trust ...

Why every US trader needs to trade offshore

I find the best times for me to be 6:00 to 12:00 EST (New York Time). There is some volatility before and after that, but the best time for volatility is 8:00 to 12:00 EST.

Best & worst times to trade

Bump! Anyone??

What do you guys think about Maverick FX and other Prop shops?

Thank you everyone for the thoughtful responses so far. It seems according to most posters, the top reason people like using it is because it so widely used, which makes sense. Most forex brokers offer it in some form or another, and it's highly ...

Why do so many people use MT4?