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Yes, i agree with that besides I think for the best of all traders around the world it is better to practice as soon as we can rather than waste our time for nothing. Education is good but I think without the practical knowledge and just theory, trader won't getting better other than who practicing enough.

Gold prices are trading at a one-year high in Friday afternoon trading. The weak US Dollar on the back of disappointing US economic data is still the main proponent of the strengthening of gold to date, in addition to risk aversion action in relation to the geopolitical turmoil triggered by North Korea. On the Comex, the price of gold futures for December delivery rose as much as $ 9.95 or about 0.74 percent towards 1,360.34 per troy ounce. This level is the highest for gold futures since August 2016. According to analysts, the weaker-than-expected US economic data has raised market doubts about the sustainability of US interest rate hikes. This condition causes gold to continue to rally because both have a correlation relationship upside down.

Petroleum prices have been steadily rising since Tuesday to Friday after three more hurricanes hit the United States after Hurricane Harvey paralyzed Texas last week. When the news was released, Brent was in the range of $ 54.67 per barrel, the highest since April. While West Texas Intermediate (WTI) tends to flat around $ 49.20 per barrel which has been several times achieved since August. Although predicted not so affect the installation of oil and gas in the US, but the market continues to monitor the impact that may be posed by these three storms in the future. Moreover, as Harvey, Katia is projected to reach the Gulf of Mexico, where many US offshore oil mines are located The latest US stockpile crude oil report from the Energy Information (EIA) agency showed an increase of 4.6 million barrels to a total of 462.35 million barrels. The refinery fell 16.9 points to a total of 79.7% last week, the lowest since 2010. On the other hand, US oil production was also hit, with output pressed down from 9.5 million bpd to 8.8 million bpd. At a glance, terminal closures and refineries along the coast, as well as poor conditions in the Caribbean sea, affect oil deliveries in and out of the US.

US dollar is still languishing in Friday's trading session this afternoon, due to risk aversion that has not died down, US Employment data are deteriorating due to Harvey storms, as well as Irma storms that hit the Florida region. In addition, the Fed officials' comments on inflation weakened, refining the burden borne by the US Dollar, making it difficult to rise. In addition, early this morning, New York Fed President William Dudley said that the US central bank should continue the rate hike gradually. According to him, the current slowing inflation can still rebound. Nevertheless, the market continues to judge that Dudley's statement does not reflect on his statements in previous events. USD/JPY is still in a steep movement approaching the lowest level at 107,700 since November 2014. In addition, USD/CHF is sliding towards 0.9448. While, EUR/USD is also still sitting at a high level following the ECB's monetary policy yesterday, which despite no change for this month, but provides guidance on the continuation of the QE program in October ahead.

Euro is still ahead of the US Dollar after the currency is also called a single currency that gets a boost from the ECB monetary policy. EUR / USD seems to extend its gains and has traded around 1.2066, extending gains from the 1,194 low which reached before ECB announced its monetary policy yesterday afternoon. The European Central Bank (ECB) has again decided to maintain its loose monetary policy in September, by not changing the low-interest rate and still making bond purchases.The ECB is still opening the door for additional bond purchases as needed, although currently, Euro Zone economy has been in the best condition since the global financial crisis. Euro floods buying action, as Draghi said the tapering decision is likely to be done in October. However, the ECB in general also still implies rather a dovish sentiment, so the Euro may turn around for sale once the market permeates it. Moreover, the yield on German bonds declined. Nevertheless, the Euro still maintained gains thanks to the outstanding US Dollar in weakness.

Same here 2:1 ratio where the 2 is Take Profit while the 1 is Stop Loss. One thing that I think take profit is worthy of that it helps us maintain our emotions through an automated system. Imagine if there is no take profit? We must stay alert for few hours in order to cut the profit we want, not to mention when you are greedy it will be longer.

So right now you are proposing selective withdrawal? Logically, that way is good and I don't see any problem with it. In the end that is the compounding but with smaller amount of money you compound. As long as you able to expand, I think compounding is a must.

If they want their career as foreign exchange to be "safe", then learn about it. Not that hard, basically as the time you spend on those materials, it will give you an insight about how forex works, it usually takes less than 2 months if you have a lot of time to spend and practicing during business days. It is bad but being afraid without trying even to trade in no risk demo account is really waste a time.

If we linked it with learning, even a more long term strategy such as swing trading also give us lifetime lecturer of how to manage the risk and how to optimize the profit. In the end, the one who can judge whether scalping is a profitable strategy or not is the trader who's trying to make a profit.

I find that this issue is pretty much interesting. Some people really push their own boundaries to be a better trader in future and even trying to make it in really short period of time. Controlling the trading by ourselves is a good idea at first, it will give us knowledge and experience how to deal with certain situations and to give us deep understanding about forex.

The movement of crude palm oil was observed to weaken in the second day of consecutive trading on Thursday, following the predicted increase in palm oil inventories of Malaysia. CPO futures contract for November 2017, the most active contract on the Exchange Malaysia, in today's trading fell 0.73% or 20 points to 2,724 ringgit per ton. The weakening of CPO price is influenced by the estimated increase of inventory amount. Malaysia's palm oil inventories are expected to hit an 18-month high in August. The market is looking at higher inventories for August. At the same time, he added, the palm oil exchange also pressured further strengthening of the ringgit exchange rate. The exchange rate of ringgit was observed to rise by 0.54% to 4.2160 per US dollar today, after in the previous trading ended by 0.50% appreciation at 4.2387.

The rubber price rally ended in today's trading on Thursday (7/9/2017), with a weakening of more than one percent. The price of rubber for delivery in February 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed down 1.07% or 2.50 points at 231 yen per kilogram (kg). The weakening of rubber prices today ended the rally posted three days in a row before. Analysts say rubber prices are affected by crude oil prices and a stronger yen with investors picking up sentiment from weaker crude oil prices and a stronger yen to take profits after recent rallies. The price of WTI crude oil today was down around 0.33% while the yen's price actually appreciated around 0.16% or 0.17 points to 109.07 per US dollar, having previously ended depreciating 0.40% towards 109.24.

Gold prices stabilized on Thursday (07 / Sept) from early trading session until this afternoon. Weak US Dollar is still a supporter of the strengthening of gold prices. In addition, the market is also looking forward to the results of the European Central Bank's monetary policy meeting (ECB) which will be announced later in the evening. Spot gold traded at $ 1,344 per troy ounce and observed to be slacking around 0.3 percent from the previous trading session. Meanwhile, the price of gold futures on the Comex, for December delivery was flat at around $ 1339.50. Meanwhile, US Dollar itself still has no energy to overthrow the Euro until this afternoon. The ECB is expected to start delivering a scheme on the withdrawal of its monetary stimulus. The odds in this week's geopolitical tension are very high. If North Korea re-launches missile tests, then risk aversion sentiment could be triggered again and Gold will gain the profit from this issue.

The Australian dollar plunged in Asia session today after Australian Trade and Retail Sales Balance Data was announced. AUD / USD is trading at 0.7989, down from the 0.8009 range achieved before the report is published. According to Australia's ABS Bureau of Statistics, Retail Sales were flat without an increase during July (seasonally adjusted). The data missed expectations of an increase in retail sales by 0.2 percent. It was the weakest growth since March when Hurricane Debbie struck Australia and caused massive damage to southeastern Queensland and parts of northern New South Wales. While the food sector is not included, as it is considered volatile, Australian Retail Sales slipped 0.5 percent. The weakening of Australian retail sales was driven by slumping sales at the Department Store. Clothing sales fell as much as 1.7 percent. Meanwhile, Australia's Trade Balance recorded a sharp narrowing of the surplus for July, to AUD460 billion, compared with a previous AUD875 million surplus. The narrowing of Australia's trade surplus is expected to be the result of the strong Australian Dollar exchange rate, dampening exports of iron ore and other commodities that Australia's main export.

The number of Americans who filed claims for job losses jumped over the past week to touch record highs since April 2015. Most of the Jobless Claims surge came from the Harvey-stricken Texas state some time ago, but the US labor market trend remains consistent on a positive track. According to data published by the Labor Department on Thursday (7/9) showed unemployment claims jumped to 298,000 over the last week for calculations until September 2nd. Unadjusted claims for Texas posted a jump of 51.637 which accounted for 95.6 percent of the increase in Jobless Claims last week. This happens because Harvey storms that hit Texas make many people find themselves temporarily have to be unemployed. Data Jobless Claims US last week is quite disappointing it then causes the Greenback move weakened against the various major currency. At this hour of evening GBP / USD slightly corrected to be at 1.3080.

Euro climbed in the European trading session on Thursday, this afternoon ahead of the European Central Bank (ECB) later in the day. The market expects the ECB to address the Euro's strengthening in recent times and how it will impact on the outlook for next monetary policy. EUR / USD jumped about 0.1 percent towards the higher price at around 1.1925 and continued extending its gains to 1.1963 as for now. The pairs are getting closer to weekend highs at 1.2070, the highest since January 2015. The euro has lost some momentum since touching a 2-year peak, as on the other hand also weighed by rising expectations that a stronger euro will slow the ECB's plans to reduce its bond-buying stimulus. Only 15 of 66 economists surveyed by Reuters, which estimates the ECB will announce its monthly stimulus reduction in today's monetary policy meeting.

I use it for the sake if I was late to ride on the trend and the price starts to make significant rebound, then i would save some of the profit and cutting the loss later. This is like moving our SL line to the positive area after the price gain more pips. I usually take 200 pips(on 5 digits broker) for trailing stops point.

Yes for long term trader, i also don't see any urgency for them considering how much profit they could reap when making a weekly trading. For them fees are just the small part of their problem, the trouble lies in planning strategy. Shor term trader, on the other hand, needs to count the fees to lower how much you can lose if you lose.

It doesn't change any fact that even you have a strong-willed regulator that wants to help your cases no matter if you had one. Dealing desk manipulation could exist especially in the hand of the broker which is well-known as the bucket-shop broker. It will ruin your experience, well they may have problems later but it is not like a big deal for them too.

Its competitive side which makes it more interesting rather than the prize. It will give us a sense of responsibility in trading. So we will try as the best as we can to gain profit while at the same time minimize the risk, so besides we trade in no risk account, we also can experience near real life trading. It is good for newbie and their long-term commitment.

Usually, a broker which also act as liquidity provider is ECN broker which let you access the market without any bridge. One of the example for this one is dukascopy or interactivebrokers. Higher liquidity in forex means a good thing since it could give some volatility and also sometimes give a better and predictable price movement, it rarely stuck.

Well, that kind of ads is really getting on my own nerves lately, claiming as gurus or whatever about foreign exchange. If they were gurus and made a lot of profit, why they want to share it? By the way, this is why mentoring is needed so not all fall into this kind of trap and make sure that mentor we choose also earn by living through forex.

Can you do that in long term? to make consistent profit in long term is not easy, you must have more than just persistence but also you need to have the capability as a trader to make an accurate prediction, and the last is a good risk management. Long term trading also needs big capital to hold your negative floating position which may occur later.

As long as that is not in the time when big news is happening I think the spread won't be that big. I usually see the spread will be large only around that time. Yes, more than one liquidity providers which compete with the others giving the best offers and then NDD brokers can choose which is the best for them and their client.

Pound Sterling reaction on the releases of UK PMI Services report for August seems flat than what people anticipated. GBP / USD in a struggle to maintain its high level, steady above the 1.29007 level this afternoon. The PMI survey for the UK services sector showed the weakest growth in the past year. Concerns about Britain's exit from the European Union and the likelihood of Britain's investment plunge are the reasons for the decline of British Services PMI. The UK Services PMI index for the month of August sank to 53.2, lower than the forecast at 53.5. However, that level is still far from contraction. Chris Williamson, Chief Economist Markit said, "Although in the last two months the data showed an expansion of economic growth of 0.3 percent in the third quarter, momentum is still in decline". The pound has slumped about 14 percent against US dollar since a referendum on UK exit from the European Union, and about 17 percent versus Euro. Most forex experts say that Pound Sterling is still close to its current levels amid Brexit uncertainty.