Kurt Suntay's trading tips and techniques
Kurt Suntay's trading tips and techniques
No one wanted to tell the truth. Step by step I will reveal the fantasy, myths, reality and truth about Forex trading.
Kurt Suntay
Just think about it, you are accepting from a broker the money you don't own, and you are putting them at risk, not a calculated risk, but, to some extent, an unknown risk, such as the Forex currency market is.
If, however, you sort it out What and Why and Where the leverage helps you and hurts you, you can pull it out with ease, be it 40:1 or 400:1 leverage you start trading with.
If you listen to yourself for a moment, what do you hear? Is it: "I know, I know there are 90% losers in Forex and 10% happy winners, I've heard that many times, but I AM DIFFERENT, I can pull this out and be among those winners" Oh yes, we are so self-confident and smart and vainglorious that we see ourselves among 10% of winners right away!
It is an occupation, if you wish. So, lazy people get off board now, abandon the idea of beating Forex.
AForex scalper is an experienced craftsman in his industry. Every scalper starts with some favourite tools he picks up while learning how to trade. The rest boils down to testing and trying hundreds of indicators on 1 minute charts in order to filter bad signals and leave the good ones. 1.
Forex brokers, who will not tolerate scalpers, mention scalping rules and restrictions in their Terms & Conditions, which traders rarely read, by the way, when opening trading accounts. (Or worse, drown in knee-deep water) Definition of Pit scalping By the very nature of trading in the pits, scalping is best defined by trades that are very short term in nature. In the adage of the successful pit trader, it all about taking a million trades to make a million dollars.
Trading to capitalize on the regular market turnaround times like 10am & 3 pm New York time.
Where trades are taken in known periods of trendlessness during the trading day.
Same exit rules apply.
Red denotes losing trades. Pattern: The 10 o'clock jiggle (10OJ pattern)
No re-entry rules here.
No re-entry rules here
Note the 'downtime' period on Tuesday and early Wednesday no signals here.
Trend-Continuation Trades
I like them because they only enter trends after the market has tipped its hand.
Pattern: The 5-Minute Standard Deviation Scalp
meaningful retracements. In downtrend, we look to sell the rally that penetrates
Stop Loss: Take a 1.25-point stop loss or exit at market if the slope
No re-entry rules here.
It's easy to dismiss these patterns as unexciting, since they do not lead to large windfalls, but are happy to chug along with small consistent profits.
Don't scoff at the apparently small monthly returns of about US$2000 (give and take for losses etc). Try 10 lots for size. (Whispering.) They [brokers] spy on you! They know where your stop is and hunt for it!!!
Kurt Suntay
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