Hey guys,
I just wanted to do a quick blog post to cover some of the questions I am asked via email.
1. Nick why is there no weekly analysis this week?
I only do analysis when I am trading. If I am not trading for the week I do not do any analysis. There are many reasons I will not trade for a week or two. Right now I am moving to a new apartment so with all the packing and commotion I am not trading. Sometimes after a few good profitable weeks I decide to take a week off. Other times I am concentrating on businesses outside of Forex. I do not only trade Forex I have other businesses I sometimes concentrate on.
So if you see no analysis it simply means I am not trading.
2. Nick my scalp trade failed do scalps not work any more?
Yes and no. I always say that market conditions change, right now constant lines seem to work much better than scalp lines.
That being said scalp lines are not doing too badly. Just remember that scalp lines should only be traded in the London session! Any scalp lines traded outside of the London session are risky.
3. Nick should I change my broker to a foreign one since now I can only trade 50:1 in the U.S.?
I cannot make that decision for you but I can say that 50:1 leverage is not the end of the world. You can easily trade with 50:1, if anything it is slightly safer. Brokers like Oanda have had a maximum 50:1 for years.
If you have to have 100:1 then perhaps you should change broker. Just stick with one of the big names GFT, FXCM ect.. If you go with smaller brokers you risk having your money taken.
That is it for the questions guys. I have had a bunch of emails with these questions so I thought I might as well answer them on the blog.