W
Weilo Daniel
@weilo_daniel
Last seen:
11 hours ago
Gold & USD/JPY enthusiast
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The reason for the thread is simple, if you believe in trading one pair then show your trading account statement lets see if it works. If you believe in diversifying show your statement lets see how it works for you. Lets have less talk and more action
Happened to me once, such a terrible memory, had $100 in my account, losses kept mounting and I couldn't stop placing new trades even if I tried. Like @sandy said, it was as if some invisible force was controlling me and placing the trades through me. I only snapped out of it when my balance was depleted to $2
The irony of it all, most brokers with low spread have terrible trading conditions and brokers with high spread have great trading conditions. Its all about tradeoffs
FTMO is losing its glory, it took them 5 years to start one-step challenge while other prop firms had been doing it
Prop firms view one sided betting as simply gambling because it doesn't follow any strategy. You are simply trying your luck by trading in one direction always. However, many prop firms now use this one sided betting rule to witch-hunt profitable traders, they just term any risk mgt you do as one sided betting and ban you. Especially FTMO
Fake broker scams are an offshoot of slaughtering the pig scams. You meet someone on a dating website, they tell you they make money from trading and ask you to open an account with a legit broker. When it is time for you to fund your account, they send you an anonymous link to click on and make your deposit. they tell you it is a referral link so you can get some bonus on deposit. Once you deposit via that link the money goes to their account and they block you.
This is why I say the SMC concept is a lie, institutional traders do not need liquidity from retail traders, because retail traders don't even exist to them.
Brokers have the right to terminate a relationship for whatever reason, and there's not much anyone can do about it especially with the poor regulatory environment in most parts of the world. Winning every time is unnatural and is not good for the brokers business, you can bankrupt them if you trade a big enough lot size frequently
I agree with your brother. How you will know these guys are just evil is when there is a news release, they will just lock up their systems so you cannot place orders
Bro the title of your thread is misleading, I thought the thread was about posting historical NFP data
Many are called but few are chosen 🤣. Gold is the most popular instrument amongst brokers/traders. its trading volume is the highest. The implication is that since every broker can make money off gold trades, they make the entry requirements affordable, so even with $5 you can open a small gold trade. But the killer is that once you are on the losing side of the trade, your $5 cannot sustain you for 10 seconds, you will be wiped out. Gold should only be traded if you have a big account balance.
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