G'day James.....I use GoMarkets. They are not a Market Maker, but a Through Market. They are fast and the spreads are reasonable and have minimal outages. Most brokers are the same, some are NOT good, so stick with the 'known' as you can learn from this forum
Most people think in even numbers eg Buy at AUD 89550 sell for a 40 pip profit @ 89950. I buy @ 89547 and sell @ 89941 = 37 pip profit. With all my trades I try and get away from anything to do with herd mentality.
STOPS belong where you are wrong :-))
If you trade price patterns your stop belongs where your price pattern would be broken, because then the pattern I'm trading no longer exists.
None of us place stops because we want them to be hit. We place them because we acknowledge that our methods and our rules don't always work......MONEY MANAGEMENT
If the stochastic trends above 80%, I have a plan to go long where all others tend to sell. If it trends below 20% I go short....I may go into this later, but it is very interesting.
A simple rule is if the DJIA is green then the AUD will be green.....pick your entry points according to the DOW spikes.....must have live DOW ticker, or business channel. I use volume indicators a lot
Just remember "most people are right at the wrong time" They can see when the market is trending, consolidating, double tops etc, and the more obvious it is, the less likely it will work...then. The pros with all the money will always want to get in first!!
So remember if the market has already moved and the pros are not in yet, then they won't bring in their big volumes, so they simply wait, or may even use their weight to take the market DOWN temporarily. Yes "stop running" does happen.
Just a few of my trading strategies James. Keep reading and trialling your strategies.....BE DIFFERENT at the right time and MONEY MANAGEMENT is soooooooo important
