adrian1974
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Posts posted by adrian1974
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Re: 5 Golden Rules of Trading
1. Invest in the direction of the Trend!
2. Cut Losses Quickly.
3. Let Profits Grow…
4. Diversify.
5. Manage Risk.
I heard so many many people suggest the same ideas.
Those quotes are likely simple to read/write. But do we ever know how to use those rules? Or do we really know what the meaning of those rules ?
The questions are:
1. How do you know exactly what trend is now developing if you are in the middle of trading ?
2. How do you cut losses quickly ?
3. How much we let the profit grow ?
4. How we divesify our strategy ?
5. How to manage our risk ?
:-?
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Re: What MACD and Stoch trading strategy do you use?
Hi..
I use MACD to identify the trend only. Put MACD in Lower Time Frame M5 and in my working Time Frame at M30. I'm not using MACD in Higher Time Frame above H1. I prefer using EMA 10, EMA 20 and EMA 50 to identify daily trend.
For the Entry and exit, I use channel MA at EMA 20 High and EMA 20 Low and trigger at EMA 5.
Stochastic is quite frustating if use at its overbought and oversold signal. Regarding some videos and Ebooks, Stochastic is best for identify the divergence. Avoid to use it directly as entry and exit at its overbought oversold value. But I don't use Stochastic for my setup.
Hope it helps.
Regards,
Adrian
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Re: Taking all together...
Hi Spike
Without disrespect on your idea, I'm just suggesting you that there are no perfect system nor indi nor EA which work flawlessly on any market conditions, so it would take very high risk collecting on other people money.
What if the system fail ? Could all the participants take their loses and not blame you why chose Robominer, and why not chose different system ?
Don't.. I repeat: Don't ever trade with other people money. Learn by yourself and trade with your own money. You will be rewarded if you do your homework, and you will take your own loss without feeling more pain.
It's all your money if you win, and it's also your own money if you loose. Respect your own system, respect your own discipline, and respect your own losses.
Regards,
Adrian
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Re: MoneyManagement material
anyway the risk management is not easy, trade well , displine well...Simoniex,
Rather than just only said Risk Management is not easy, why don't you explain more detail so we can learn something ?
We already known it was difficult, but how did you manage on that ? How to trade well ? How to discipline well ?
Otherwise, your post will consider it as a junk.
Regards..
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Re: How to accurately draw support & resistance line ???
Thanks Adrian for a clear explanation of static S&R.Where can learn more about the dynamic S&R.
Thanks
Hi Tigris,
Dynamic S&R can be identified using:
- Price Action from Candlestic Chart : rever to Steve Nison Books about Candlestick
- Pivot Point Calculation
- Fibonacci Retracement
- Indicator: Moving Average (EMA 10), and several Custom Indi (Forgot the name, coz I don't use them)
Thx..
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Re: FIFO Rule
Just FYI
IBFX account trader need no changes in their trading style regarding FIFO regulation. IBFX deal with NFA and bring the FIFO solution by the modification of daily and monthly statement.
Detail IBFX statement:
Interbank FX Announces Compliance with the New NFA FIFO Rule, Retaining All Platform Order Functionality Including Expert Advisors
Interbank FX’s proprietary backoffice solution offsets positions adhering to FIFO rule
Salt Lake City, July 20, 2009 — Interbank FX (IBFX.com), a worldwide provider of online foreign currency (Forex/FX) trading, announced today a solution for NFA Compliance Rule 2-43 affecting all NFA regulated Forex brokers.
Using our proprietary backoffice solutions, Interbank FX will allow our Meta Trader 4 platform to remain 100 percent compliant, while retaining order functionality and flexibility for customers trading. The MT4 platform will continue to function as our customers have experienced over the last several years. This includes the ability for customers to use fully functional Expert Advisors, Stops Losses, Take Profits, Trailing Stops and Limit Orders without making any needed adjustments.
"Certain US competitors have decided that their solution to the new FIFO rules are to move their customers overseas, rather than being compliant," said Todd Crosland, Chairman and President of Interbank FX. "At Interbank FX, we have embraced the NFA's efforts to help protect customers and provide a seamless solution without any changes to their current trading strategies."
The only modification for customers will be their daily and monthly account statements, coming directly from the proprietary Interbank FX backoffice system using NFA FIFO offsetting procedures. The FIFO rule takes effect beginning July 31/August 1, 2009.
Interbank FX is currently working on a step-by-step video which will be available shortly on our web site, http://www.ibfx.com.
Q. Does FIFO apply to all of my trades?
A. First in / First out applies ONLY to trades of the same size.
Q. Will my Expert Advisor still work?
A. All of your Expert Advisors will continue to work with all of your pre-programmed stops, limits and trailing stops.
Q. Will I still be able to use Stops and Limits, Trailing Stops and Take Profits?
A. Absolutely – With the IBFX solution, you won’t have to make any changes from the way that you are trading currently. No need to make any adjustments to Stops and Limits, Trailing Stops or Take Profits.
Q. Will I still be able to close any of my orders of the same currency pair in any order?
A. Yes, with the IBFX solution, your trading will still be fully functional without any changes to your current trading strategies.
Q. How will this affect my daily statements?
A. Interbank FX Official Statements will come directly from Interbank FX’s proprietary back office system using our FIFO offsetting and accounting procedures. These statements will be accessible through a client’s Web Site Login. You will still be able to pull an Unofficial Trade Journal using the Trade Journal feature within the IBFX website. You will also be able to produce Unofficial Trade Journals using MetaTrader 4 as your Trade Manager.
Q. Does this NFA rule apply to all U.S. based brokers?
A. Yes, this rule affects any broker in the U.S. that is a member of the NFA. Other brokers have attempted different approaches to this new ruling. We at Interbank FX strive to make trading in the forex market as simple as possible for our clients, all the while in full compliance with the NFA.
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Re: When You First Entered The Forex World . . .
All..
This what I think that you should consider before dealing business with currency market.
- Why choose forex if the fact that 90%..95% will lost their money ? Why don't you invest in stock or maybe reksadana ?
- What do you expect when trading forex ? Money; of course, but how fast you plan to make money in forex ? Are your planing realistic?
- Can you continously read and learn everything about currency market in everyday ? Yes 1 or 2 hours /day is not enough to learn forex for beginners. But consider, 500 books or more can not guarantee your trading will succeed.
- Are you dare to put your real money for about USD 200 for trading nano lot instead of demo? Honestly, how many of you can trade demo with high discipline and treat the demo account like your real money ? Demo can not teach you with discipline and nor improve your trading emotional. Frankly demo will ruin your trading patience ;)
- Are you patience enough to learn from your trading mistakes, but most important, can you kill your ego and accept your failure than control your emotion to recover your trading behaviour ?
- How many books you have finished read in a month ?
Please argue with yourself, then decide that you still interest to trade forex or not.
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Re: Is it safe to trade Forex for Living ?
Dear all...
Please narrow our discussion to NFA statement or Trading Regulation.
We are not talking about system, Money Management, but more intense in trading regulation, specially in Forex retail trading.
Because nowadays, NFA has released their new disadvantages rules to their member. And ironically, we choose broker who are the member of NFA. Because we think it will be saver to put our capital to them.
But thanks anyway for all comments.
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Re: Is it safe to trade Forex for Living ?
I believe that Forex is the future- I had left the world of stocks because of the restrictions in the US markets. There are cheap penny stocks too, but they tend to stick to one's hand when trying to sell them, so currency seems to make the most sense to trade, especially if you wish to trade short as well as long. Stay out of the NFA member brokers though, they are the ones with the new restrictions...I have transferred all investment capital out of the US, which really is a waste, but that's the way they seem to want it. Good luck to you!Hi Gpcode,
Interesting one..
Suppose we move to European based brokers, do we have to change our capital to EURO ? Because it can be a disadvantage when our rate weaker than EUR.
And is there any "NFA - like" in European country ?
Thanks..
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Re: Is it safe to trade Forex for Living ?
I can't see retail brokers disappearing any time soon.The NFA rules will probably clear out some of the smaller (and hence more risky) US brokers, however there are plenty in Europe and other parts of the world where the NFA has no say in what they do. If you're switching broker from the US to a broker in another country then you need to do some due dilligence to make sure that they're large enough not to go bust overnight. Normal low capital retail accounts are still available all over the place. Lots of folks are switching from Alpari US to Alpari UK and from FXCM US to FXCM UK to avoid the annoying NFA restrictions.
I'm not sure how much you need to earn to live off per year, though a making a living from a trading pot of less than $10,000 would be impossible for a lot of folks.
Even if your worst nightmare happened and all retail brokers disappeared overnight, then there are other options for manual trading such as spread betting (common in the UK, though I'm not sure about elsewhere) or trading forex futures direct on the CME via a futures broker.
Great response.
Thanks a lot Soundfx..
In Indonesia we can trade for living just only 10 pips a day in standard lot. Why ?
Suppose we gain only 10 pips /day, that means we earn USD 100. Just averaging all profit in 25 days (profit = Win - losses) and the result we just get only 100 pips (means USD 1000).
Then at the end of the month we are making Withdraw (minus USD 20 TT charge) so the result are USD 980. And in Indonesia USD 980 equal IDR 9,898,000 (according current rate at this morning)
That's the sallary of Middle Manager, and we can make living on that. :D
And if we have enough confident to grow our skill and psychology and offcourse MM, we can get more than 10 pips.
That's why I think It's possible to trade for living in Indonesia.
What I fear about regulation is only if they change the rules so it's difficult for us the retail trader to trade with small money.
Yes maybe stock is the alternate, but huge money needed.
By the way what is Spread Betting? I just hear that.
Thanks all..
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Hi..
Need your opinion, guys..
Nowadays NFA has several statements that seems to disadvantage the retail traders. First no Hedging policy and then FIFO policy.
I just wonder.. Since most of us including me have goal to trade forex for living, is it safe and is it still allowed to trade forex with relatively small of money. (below USD 10,000).
Because my fear, if someday only big dogs and institutional are allowed to trade forex, so how about us the retail traders who already leave daily job and just depend our income on Forex ?
Do you have any comments or opinion about this ?
Regards..
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Hi there..
I'm using LFH Forex Simulator Script to simulate my set of trading indicators in EURUSD pairs.
But whenever I start the strategy tester and continue simulate my trading, I notice that the spread of EURUSD for strategy tester is 6, which is too wide from its origin (only 2 spreads).
How to change this spread back to 2 pips only ?
Thanks in advance.
Adrian
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Re: Analisa dan Komentar Forex Harian FXInstructor
Kenapa malam ini (jam 19-20 WIB) EURUSD minim bergerak ya ?
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Re: FIFO Rule
I have contacted IBFx and they explained that FXCM statement was not quite right about FIFO mentioned by NFA.
In IBFX, we still can use SL and TP for a position with different lot size. If you add another position with the same lot size as the previous, you can not close the position. To close the second position you have to closed the first one.
For example:
00:00 BUY STOP 1 mini at 1.4000 with SL: 1.3960 and TP: 1.4100; We can set SL and TP for the first order
00:05 BUY STOP hit at 1.4000; So you have now open position with SL: 1.3960 and TP: 1.4100
00:10 BUY STOP 1 mini at 1.4050; At this moment you can not place SL and TP because you still have open position with the same lot size (1 mini)
00:15 BUY STOP 1.1 mini at 1.4050 with SL: 1.4010 and TP 4100; At this moment you can place SL and TP because different lot size from the open position.
So my conclusion is: as long as we keep multiple order with different lotsize, we still can set SL and TP and manage them individually.
Or if we only trade 1 lot in a time, there would be no problem with the FIFO rule.
Yet I don't know why FXCM make statement like that.
Hope this can help to explain about FIFO rule.
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Re: John smiths MT4 tools
Hi all, thanks for this tools sharing.
Is there any chance to remove the account validation check since we have the source code ?
If I'm right, the online script can be easily removed from the source code right?
Can you tell me which procedures/programming code lines should be removed from MQ4 filrs?
Thanks
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Re: FIFO Rule
This FIFO is serious problem.All NFA regulated brokers, such as FXCM US, won't allow Stop Loss and Take Profit.
William, could you explain more detail about statement above: Stop Loss and Take Profit is not allowed. Is that mean we can not put Stop Loss?
Thanks
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Re: Build Forex Investment Club?Searching people...
Hi Skype123,
Have you ever discuss with the Moderator of this forum regarding your club development?
I don't think that using this forum to recruit people is a good idea.
Please PM the Moderator (bro dvd-val) and explain what you want to do with your club and correlation with this forum.
Regards.
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Re: [ask] Mobile Forex
Betul kata bro Myanyx, mobile trading sebaiknya naked dan menggunakan indi standard, karena kita gak bisa nambahin custom indi.
Btw, apa ada platform mobile lain yg lebih menarik dari MobileTrader? Untuk forex. Mungkin Java Base?
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Re: pivot point calculation
I usually calculate the pivot point manually using the excel spreadsheet. But there are many good pivot indicators which automatically draw the pivot line on MT4.
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Re: Subforum or section with setting files for best EAs
Hi Myanyx, we are in the process to make this forum more organized. Sure it's not a simple thing because thousand posts have already been archived. Please be patience. Beside if you have some suggestions you're welcome to share your ideas here.
Regards.
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Re: Lifestyle Trading with L.E.A.P.S by Darlene Nelson
Nope this is the premium user account. Except they erase them because illegal contents. ;)
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Lifestyle Trading with L.E.A.P.S
By: Darlene Nelson
Source :
Format: AVI 128kbps
Resolutions: 640x480
Number of DVD: 8
Total Downloadable size: 5.7GB
Review:
"Instantly boost the effectiveness of your trading by 100%, 200%, up to 2,800% or more with these better than 'insider methods'. You can learn basic and ultra-advanced secrets to achieve world-class trading success. Don't miss this chance to peer inside the mind of a true trading genius, as she reveals all powerhouse investing techniques, tips, and strategies that she's uncovered and developed including the dirty secrets behind the politics of the big brokerage firms!"
LIFESTYLE TRADING WITH L.E.A.P.S. DVD SERIES
If you are in the business of trading or just thinking of becoming a professional trader, you simply cannot afford to be left out of Darlene's "Top Secret Insider Trading Information" (no it's not what you think) also known to her fans worldwide as the "Lifestyle Trading with L.E.A.P.S" system.
THIS INFORMATION IS MANDATORY
However, if you can't make it to one of Darlene's highly acclaimed live workshops - then there's still hope! Darlene had a professional video and audio crew tape the entire seminar. Every single minute. Not one secret left out!
And that's good news for you. You see having the tapes of a seminar is often better than attending live! Here's why: At a live seminar, you often miss 40% to 60% or more of what is being said. However, when you have the tapes you can review them over and over and take meticulous notes. With the tapes you won't miss anything !
You'll get the entire seminar, every minute recorded on DVD or video. So you can watch in the comfort of your home and soon be on your way to making the big monster profits!
Download Links:
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Re: pivot point calculation
Hi Myanyx..
Like you and Locle, me too have ever confused with Pivot rules. But according to my experiences along with Pivot, I realized that William is right.
There is no right or wrong to what time you chosen. The right thing is always consistent with your basic Time Frame Trading Plan.
For example:
I'm actively trade on NY Session, so I prefer to chose 17:00 NY Market Close as the end of the day. My broker IBFX uses 24:00 GMT as the closing day.
So I suggest, first pick your time frame that suit you the best, and try to use consistent time for calculating your pivot. And I'm sure as like me, you will found your own answer about your Pivot time.
Hope it will help.
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Re: Trading in The Buff
In my opinion, I will choose Steven Nison's Profiting in Forex rather than Trading in the Buff.
Nison's candles strategy much easier to follow with more clear explanation.
Hello agail pals
in General Discussions and Lounge
Posted
Hi guys..
It has been a loooong time since I check in this lovely forum..
Many nice changes here, I think bro David had worked hard for this forum. Very good job..
Actually, I have already hold my Currency Trading since Jan 2010.
Due my office-job business which made me headache and I almost have no spare time during NY-GB market, so I decide to move my fund to slower market: Reksa Dana (until now, it already gave me almost 32% since last January, y/y).
Since I'm a former of currency trader, sometimes I made my Reksa Dana analysis based on Currency Technical Analysis hehehe..
And guess what.. It took soo long to BUY and to SELL. At least I have to order the day before Reksa Dana market to open, and have to wait my withdraw transferred to my account for a week.
Then somehow I missed Currency Market again. :)
So I decide to open and re-learn from our beloved forum..
Hopefully I can still have ability to learn Currency again.
Wish me luck, guys..
Cheers..