Comments on: My thoughts on what you need in order to be a successful retail FX trader https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/ The Professional Source Wed, 26 Jun 2013 20:59:55 +0000 hourly 1 By: Sean Lee https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-24004 Wed, 26 Jun 2013 20:59:55 +0000 http://fxww.dreamhosters.com/?p=7127#comment-24004 I’ll send you an email later Ken

]]> By: Ken https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-23984 Wed, 26 Jun 2013 14:53:28 +0000 http://fxww.dreamhosters.com/?p=7127#comment-23984 I need a reliable broker too. Appreciate your input. Thanks.

]]> By: dave https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19906 Thu, 18 Apr 2013 04:06:53 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19906 In reply to Pete.

> I am the Johnny-come-lately. so might want to know which broker too. Cheers Sean! 🙂

]]> By: Pete https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19895 Wed, 17 Apr 2013 23:59:14 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19895 Thanks for finding out time to write this article Sean. It is very well-written and hopefully, it will serve as light house to all traders including me 🙂
Also, plz if you can send me an email regarding your observation on broker and any particular suggestion. Regards, Pete

]]> By: jason https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19894 Wed, 17 Apr 2013 22:27:08 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19894 Hi Sean, could you also send me your broker thoughts?

]]> By: FxDrive https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19885 Wed, 17 Apr 2013 14:33:17 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19885 Well now since apparently I recovered all the losses from my first attempt on the swissy, let’s see if we can make profits. I swear if I’ll look next week and see that I lost over a false breakout my face will be soo red, hate these things. Anyway thanks for info Sean and I hope you still had some on that swiss position 🙂

]]> By: Lam-Son https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19884 Wed, 17 Apr 2013 14:29:33 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19884 In reply to Sean Lee.

> Me too Sean. Put me in CC when you send out your comments on brokers. many thanks!

]]> By: Sean Lee https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19878 Wed, 17 Apr 2013 11:07:50 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19878 Same Michael, will send you an email tomorrow with some general observations on brokers.

]]> By: Sean Lee https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19877 Wed, 17 Apr 2013 11:05:40 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19877 Yeah sorry bout that Swissy trade, has been a dud thus far 🙁 there is a diffence between expectations in institutional space n retail world. Institutionally yu need to be able to manage 100 mil + and deliver 12/15% per annum with low drawdown. That wud make yu a star. Retail mkt expects higher leverage use and will cope with larger drawdowns usually

]]> By: FxDrive https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19875 Wed, 17 Apr 2013 10:33:51 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19875 Hey Sean , quick one : I usually risk just 1% on every trade and around 5-7% overall exposure . In good months I manage to make about +10% . Is that ok for managing money for others ? By the way got slammed on that usd/chf trade, but since I still see bulish structure I entered again at 0.9220. Will see how that goes :). Thanks in advance for feedback.

]]> By: Michael https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19874 Wed, 17 Apr 2013 10:20:11 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19874 Sean, would you mind sharing with me which retail broker you use? I have provided my email for reply. Retail trading in cash is more appealing than exchange futures but I am reluctant due to broker execution concerns. How do you know if retail broker is truly functioning as ecn? I would like to discuss more if you don’t mind sharing that information. Thanks

]]> By: Sean Lee https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19873 Wed, 17 Apr 2013 10:14:32 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19873 Hi Serga, I’m definitely not an expert on brokers but I’ll send you an email tomorrow with my thoughts

]]> By: SergaNet https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19872 Wed, 17 Apr 2013 10:02:48 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19872 In reply to Sean Lee.

> Hi, Sean! Reliable broker I also am interested in, I went into the cache in connection with suspicion on his broker (this was connected with Cyprus and now back don’t want to go to him), had left a little money with him, and now am looking for a good and reliable broker. If there is a possibility or the Board, please send email to answer. Thanks in advance!

]]> By: Sean Lee https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19870 Wed, 17 Apr 2013 09:32:05 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19870 Hi Rohan, I will send you an email tomorrow

]]> By: rohan https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19869 Wed, 17 Apr 2013 09:22:42 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19869 hello sean Lee
can you pls tell me what broker u use? if u don’t want bto publish that in public can u pls email to me.
i lost lots of money and the broker that i have right now seems to be one of those ” profit when i loose type.
if u at least help to identify which are best in Austrlia that will be appriciated.
thanks heaps

]]> By: Sean Lee https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19867 Wed, 17 Apr 2013 08:31:30 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19867 Jason, if you have a $50k account then do not risk any more than 20,000 in any one month. In fact you should only risk this sort of amount if you alraedy have made some profits. I should really say that yu shouldnt risk anymore than 5k when in early stages of career

]]> By: Sean Lee https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19866 Wed, 17 Apr 2013 08:29:44 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19866 Lam-Son, that’s more positions that 3 hedge funds put together! That’s way too many. Concentrate on 1 or 2 medium-term trades and I’d also concentrate on only 1 intraday trade at a time. I always enter my m/t positions with relatively small risk but if it proves to be a good trade quite quickly then I’m always ready to add quickly. There are many different ways og managing your portfolio but less is better than too many IMHO

]]> By: Papillon https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19865 Wed, 17 Apr 2013 08:28:29 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19865 Sean,

You don’t mention the lucky star 😉

]]> By: Sean Lee https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19864 Wed, 17 Apr 2013 08:25:30 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19864 Cheers Cozmin, but apologies I just don’t have enough info on any retail brokers to form any kind of opinion

]]> By: Lam-Son https://fxww.com/my-thoughts-on-what-you-need-in-order-to-be-a-successful-retail-fx-trader/#comment-19863 Wed, 17 Apr 2013 08:17:10 +0000 http://fxww.dreamhosters.com/?p=7127#comment-19863 Hi Sean,

Very often you said you opened a small position. I know that’s the way to build up depending you are on the right side or not. But my question is how small is yours relative to your balance? I tend to open small positions too. My small is 1/10 my balance and sometimes I have up to 30 positions. Are mine too small? And do I have too many positions?

Thanks!

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