conglo

He does have 2 other methods that are much less expensive. Quote (description of one system): "Instead of taking all the trades, about 100 a year, you may want to settle for the simplified version of the system that selects very special trades with a high probability of success. Trades like that can happen only a few times a year, but their combined profit is very likely to pay for the system many times over. I always look for trades like that. They took place when the market jumps over the entry level in the morning, before the daily session open at 9:30 EST, and does not return to it during the first hour of trading. If the market then breaks out of the first hour range in the direction called by the system, you take that trade. Use the same size of the stop-loss as for regular trades, although cutting it down to 2.5 pt for ER2 and 4 pts for ES should work well too. No matter the size of the stop-loss, employ a re-entry if shaken out of your position. "

Demo accounts don't count, live only. Agreed, Roels? Let's introduce an important factor into the equation.. U.S. clients who need hedging capabilities are severely limited as to offshore brokers. CFTC has introduced compliance requirements making it near impossible to open a live account with the better brokers (Dukascopy, Pepperstone, etc.). Some of us run multiple EAs on a single pair which at times will result in opposing (hedging) trades. This is much easier than opening multiple accounts with one broker; a number of U.S. brokers will balk at more than 2-3 accounts. If you can recommend a broker (real accounts only), if you are able, please add whether or not they accept U.S. clients.

Time to short the stock market !!

If memory serves me correctly I used to have this book, the "secret" is simply the 50% price retracement.

If you do it would be appreciated. I think many of us may do better with the ponies than forex.

Not free, $64 USD / 6 mo., $120 / year. Somehow I doubt that Mellen's progression is still a secret.

Pure crap, but go ahead, but knock yourselves out..

Thank you, but I rank among the guilty.

To answer your original question, "How am I making money?", the answer is, I work for a living at a JOB. Am I making a living by trading? No. I have some irons in the fire that look pretty good, but I'm a long way from trading Forex as my only income. I'm getting closer (I think), and that's after 20 years and thousands of hours and $$$. The only systems I would trade are the ones I have developed over time. They are all manual and long term. Would I trade an EA for income? Never. I would only manually trade. EAs are for entertainment. Much better than TV. Shows you how bad TV is.

Well said.

Please reread post #12. The reason I posted this is because the only trading systems I have that work are MINE. Sure, I spend a lot of time on this forum always looking for ideas and trying other systems, but I have not stayed with any of them. At least for me, I know how I want to trade and I know what I have experienced in trading; that experience and experimentation eventually leads to something that is MINE (yours); something you are comfortable and confident with. I believe you are better off investing in tools that will allow you to develop YOUR trading method, whatever it is, rather than spend countless hours and $$ doing anything else. 95% of traders lose money and 95% of traders all believe the same things. That means the 5% who succeed are doing something DIFFERENT. Question EVERYTHING you have been told about trading. Most of it is BS. After all, who is making up the "rules"? Either the 95% group or the weasels who want to sell you something. Current conventional trading thought could be compared to the Middle-Age notion that the world is flat. Dare to defy convention, think for yourself, think SIMPLE. If you stop listening to the BS you may discover you're a genius.

Here's a suggestion- Download Forex Strategy Builder. Look for it. It's free. Download a trial copy of Forex Tester. Look for it. It's worth the purchase price. Between this software, time and effort you can develop something of your own that will work.