Commodity FX (CAD AUD NZD NOK)

Qingyu, what is your current method of trading?

@dave i dumped that stock cos.un yesteday at break even..but its nice to see the long term support 24.50 held so i;ll play it at that level an get out above 25 buk level..but i deffin think it will get hammered if oil heads back to 80buk level..waiting for the fed to throw a curve ball..one thing i noticed no1 talkn about when ben was on 60min was he mentioned that fed could raise rates in 15min..every1 focused only on qe3-4..yadada..be interesting if he raised it alil today:)i know wishful thinkn lol

thats crazy try to scalp for 5pips- 20pips not bad but i concider scalping 30-60pips..but trading styles for me depend on fund data that comes out which dictates how long im in for the trade..like this morning i added more audusd shorts @1.00122 plus took a small usdcad position1.0059 all paying me nicely but im gonna hold these position as 40pips is nice but i think there worth way more..gl dave &forum:)

JCD, I agree with everything you say and please dont take any offence at my entering the discussion, I know I am a titch opinionated. I have always disliked scalping but sometimes my entries will morph into a scalp if mkt doesnt quickly go my way. I had a forex trader colleague this year demonstrate to me how he makes c.$1000 almost every morning starting with mid asian session through 10.00 GMT. He is a scalper taking typically 5 to to 20 pip trades playing typically 2 or 3 lot positions. He is very skilled at his particular methodology. I agree that 98% traders are consistently losing money but he is in the 2% elite bracket.

Right, I try to respect all timeframes. That guy leaves his screens at 10.00 GMT and has fun leaving me in my screens approx 15 hrs/day. He is happy with c.$5K per week. I trade a variety of instruments in timeframes ranging from a few hrs to many months. Longest gold trade was rolled over for 11 months. I love charting and analysis. I am happy to spend 5 days in screens and 2 days at play. Inbetween the two of us particular traders there are many different scenarios for different traders. All timeframes are potentially profitable and all are potentially disastrous.

Another thing I have noticed with forex traders is they start off by wanting all their data feeds etc for free. Everything has to be for free. Thats perhaps not a bad thing until they can prove survival with risk control and money management. Prove that they might be somewhere close to having an edge before lashing out on the right tools for the job. Decent software and exchange fees, decent rig etc all mount up so it makes sense for novice traders to get by on the cheap until they can see their "edge" or decide to quit before too much damage is done.

http://www.youtube.com/watch?v=H-c9z1TGkmw