is there any trader here getting rich?

have you ever meet somebody who getting rich no matter how long does it take, he can buy all things because he trade forex and he just trade in some broker what we all know like FXCM, FXDD, or else, he just deposit with minimum requirement and can multiple his account into millon of dollars. As you know on math, we can multiple our money on forex. can he show his house, bank statements, trading statements in real not on his websites. do you have seen this guy on your own eyes??? because i want to ask him what broker he used ? not his system though, lol

If you met a guy like that, all you would want to ask him is what broker he uses? In reality, I doubt brokers have much to do with a persons success especially when they are a well known and regulated one. I would rather ask him for tips and hints and where to look for the right answers. It is unlikely that he'll disclose his true strategy, the successful ones rarely if ever do.

I am not that guy I loose again and again, always on the wrong side ,getting out of loosing trades to late, getting out of winning trades to fast,

switching from short time to long time trading , always at the wrong moment, emotional,no discipline, even lying to myself about my trading sometimes,

looking for that perfect system.... well you know the average trader!

am sorry guys, i have already found these guys on another forum, one of them can turn $3000 to $220.000 just 8 months, and he can withdrawal his money although he must fight his broker about 2 month long, another guys can turn $90 to $600 just 4 days, these are real money and i have seen his statement. thread close

I read some bad things yesterday about FXCM Broker... truth or not who knows? Use caution.....

I read some bad things yesterday about FXCM Broker... truth or not who knows? Use caution.....

 

can you be spesific, what the problem?

I read some bad things yesterday about FXCM Broker... truth or not who knows? Use caution.....

 

Yeah, I've heard complaints about FXCM all over the place. Mainly things to to with their MT4 bridge connection which is apparently useless.

am sorry guys, i have already found these guys on another forum, one of them can turn $3000 to $220.000 just 8 months, and he can withdrawal his money although he must fight his broker about 2 month long, another guys can turn $90 to $600 just 4 days, these are real money and i have seen his statement. thread close

 

4051fx,

 

Why "thread close" ? These are spectacular results, I would be interested to hear how these guys are trading, do they give any insights into their strategies ?

Yes I know people who are rich from trading. I have seen the houses, cars and the wives. You can do it too. There is no question about it.

 

FXCM is fine; I never had any unresolved issues with them. Two things you must know when you choose them as your broker, first is a universal one; they are ECN but if you trade mini lots you are trading against your broker, FXCM and all other brokers can only execute orders in increments of full lots so they must take the other side of the trade on any order less than that. I would not be surprised if they nudge the probabilities in their own favour a bit. The second thing, their MT4 platform was not made for manual trading, it was setup to run EAs. I don't trade with robots but people who do through FXCM’s MT4 tell me that it works just fine. I use their Trading Station and it works very well. You can use MT4 for charting and Trading Station for order execution.

4051fx,

 

Why "thread close" ? These are spectacular results, I would be interested to hear how these guys are trading, do they give any insights into their strategies ?

 

you know my friend, their lucky just once before their broker get back his all money and disturbing their execution, know he trade very conservative, just 1% gain per day

well Kardel had told me eggzactly has gotten prettyyy rich trading .............

wouldn't say I'm rich from it but can report small consistent gains. Have taken 4 small accounts starting with £250 each to around 12k in about 4 months. Need to keep changing brokers though as eventually they put me on dealler referral which limits the outcome. Started out trading £1 per pip and currently doing 3-4£ per point. hope that offers some encouragement to keep working at it.

wouldn't say I'm rich from it but can report small consistent gains. Have taken 4 small accounts starting with £250 each to around 12k in about 4 months. Need to keep changing brokers though as eventually they put me on dealler referral which limits the outcome. Started out trading £1 per pip and currently doing 3-4£ per point. hope that offers some encouragement to keep working at it.

 

could you show your statement?

could you show your statement?

 

some... a bit slack when it comes to record keeping... have the latest statements for bank/broker. pm an email and you can see those if you wish

Keifer,

 

That is a good motivation to hear that you are doing well. Can you let us know which method are you using?

 

Thanks

The scalping method I use was developed through trial/error. I only trade AUD/USD when it is strongly correlated with EUR/USD. you can check the current correlation on MATAF. My broker has a 1 pip spread on AUD/USD. I use Oanda charts. To get a feel for a trade, I use the 89 EMA as a long or short filter, above it for long, below it for shorts. If it’s above then I’m looking for a pull back into the buy zone which is between the 10 and 20 EMA. I like the long/short filter to be in agreement on at least 2 time frames 1m and 5m or 5m and 15m. If they aren't in agreement then price is most likely consolidating and I'll start looking for breakouts. I use these moving averages as a guide only and a quick reference to see where price is at. I’m not looking for MA crosses. Before a trade I’m mindful of where the S&R and pivot levels are, if price is near a key level 00, 25, 50, 75, how much daily range is still available, what the current active wave is using fibonacci. The other indicators on the chart: ADX, RSI, Stochastic, MACD are secondary and just used for reference. For long trades I like on the 1 min EUR chart for the ADX to be above 20 and rising, RSI above 50 and rising, Stochastic hooking up from below 20. These are all secondary and used more to stay out of a trade if not showing what I like to see. I’m mostly looking for setups on the 5 sec EUR chart which works as a lead chart. It will sometimes move a bit sooner than AUD so can give a bit of an egde into a move. The trades are taken on the AUD/USD chart. I also have a 15M AUD chart up for reference of S&R levels. I’m looking for correlation between the EUR/USD, USD/CHF, and GBP/USD. The GBP is not so important, but it adds extra confirmation when it’s moving in sync with the EUR. I’m also looking for price pattern setups on the EUR 5m and 15m charts – failure of price to make a new swing high or low, followed by a reversal. Other trade ideas include fib plays, momentum moves, MACD divergence on higher time frames, and breakouts. Mostly I watch the price action and wait for the candles to hammer out a range. I’m looking for price to show some momentum which will be evident when the candles open and close at the extreme of their ranges. I won’t take a trade on the AUD unless it is confirmed with correlated movement on the EUR and opposite movement on the CHF. I’m looking for the trade to go in my favor straight away. If the momentum dries up on the EUR lead chart then I’ll cut the AUD trade for a small profit, breakeven or worse case a small 1-3 pip loss. Most losses are -3 pips... occasionally I’ll let it run –10. Looking for 10-20 pips profit, more if momentum is strong. Hope that gives you some ideas. Edited March 14, 2012 by keifer

waw, it's sounds tricky for me

Hi keifer

Do you realize that your name is after a probiotic yogurt type of drink

 

A very practical written guide. What session do you trade?

 

I’m also looking for price pattern setups on the EUR 5m and 15m charts

 

 

which patterns specifically? for example do you trade inside of a triangle or only on the break of it

 

failure of price to make a new swing high or low

 

 

how and when do you enter ? Is it by the break of the trendline

also what characteristics are you looking for a failure? for example price is unable to penetrate a S/R?

 

I’m looking for price to show some momentum which will be evident when the candles open and close at the extreme of their ranges

 

 

what time frame is this?

Here is my attempt at replicating keifer's settings

http://www.mediafire.com/?0ssqqk79w8mtdfo

 

In your post keifer, you mention that you trade audusd however in the picture, most of the charts are of eurusd

 

Also on mataf, currently only 50% audusd is correlated to eurusd hourly. Is your edge still viable in such scenario?

Hey Danyalati

 

You're right about AUD. it isn't correlated with EUR at all at the moment. I've had to adapt my approach for current market conditions. I recently read Dave Floyd's book 'how I made triple digit returns' and realized a lot of what I've been doing is very similar to his approach. His edge was to use the S&P Futures as a lead chart for the stock he trades. The S&P would move just a bit sooner than the stock so he had a preview of what is about to happen. When it worked the EUR would lead the AUD. I'm sure there's other correlation's out there to be exploited in the same way.

I've incorporated some of Dave floyd's ideas and simplified my approach for scalping EUR/USD. I've put together a doc explain the basics and to answer some of the other questions.

http://www.mediafire.com/?n0dpk438du265wb

keifer,

 

Great info! Thanks for the time you've put into creating this doc.

well high gain is high risk u know ... :))

Please define your defination of RICH?

Hey Danyalati

 

You're right about AUD. it isn't correlated with EUR at all at the moment. I've had to adapt my approach for current market conditions. I recently read Dave Floyd's book 'how I made triple digit returns' and realized a lot of what I've been doing is very similar to his approach. His edge was to use the S&P Futures as a lead chart for the stock he trades. The S&P would move just a bit sooner than the stock so he had a preview of what is about to happen. When it worked the EUR would lead the AUD. I'm sure there's other correlation's out there to be exploited in the same way.

I've incorporated some of Dave floyd's ideas and simplified my approach for scalping EUR/USD. I've put together a doc explain the basics and to answer some of the other questions.

http://www.mediafire.com/?n0dpk438du265wb

 

Hi Keifer

 

The link is dead could you please upload again.

Thanks in advance.

Hey Danyalati

 

You're right about AUD. it isn't correlated with EUR at all at the moment. I've had to adapt my approach for current market conditions. I recently read Dave Floyd's book 'how I made triple digit returns' and realized a lot of what I've been doing is very similar to his approach. His edge was to use the S&P Futures as a lead chart for the stock he trades. The S&P would move just a bit sooner than the stock so he had a preview of what is about to happen. When it worked the EUR would lead the AUD. I'm sure there's other correlation's out there to be exploited in the same way.

I've incorporated some of Dave floyd's ideas and simplified my approach for scalping EUR/USD. I've put together a doc explain the basics and to answer some of the other questions.

http://www.mediafire.com/?n0dpk438du265wb

 

Could anybody provide a new link for Keifers document please.