Friday, February 18, 2011

QUESTIONS and ANSWERS

Do you know which FOREX broker doesn't ask for ID at all?

If you wish to trade demo account then you don't need ID but if you wish to trade live account every
broker needs your ID to open an account. Forex broker is depositary agency, same as bank or fund!
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How to identify or learn Elliot waves very easily?

FIRST: learn how to read charts! (UP trend, DOWN trend, Side-way or No trend)
SECOND: Learn to read UP or DOWN trend with basic ABC method!
You need lot's of practice with reading the trend.
When you learn that than it would be easy to recognize Elliot waves!


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I like investing but also I want be a trader! What percentage rate of returns do I stand to gain on an investment monthly?

As a beginner round 1 to 3 %!
As a experienced trader you can use higher leverage and make round 8-10% but all depends on your account balance!
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How much leverage do you use? 

If you are a beginner  then it would be wised to use leverage (1:1) but if you are advanced trader then you can use 5:1 and if you are pro like me than you can use 10:1!
It all depends how you control your risk! You need to adapt your leverage with your risk!
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How many hours a day do you spend trading? 

I spend 8 to 12 hours on trading every day!  ( I love to trade! )
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How many pips do you make a day? 

That really depends! I am searching for very good trading setup opportunity  and sometimes there are no good trading  opportunity  for a days and sometimes even weeks!
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What else do you do besides fx trading?

Absolutely nothing, I trade FOREX only! 
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How old were you when you started? 

I was 25 years old, I think!
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Can you show example of an good/best condition of entry point?

Here it is:
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hi,
whats your opinion on or do you use trading software your self. like recognition software for patterns or waves...etc


No, I am not using any trading software, I use only Trading Calculator that I have made but you can use ZIG-ZAG if you wish!
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