Arborfx

Re: Automated System or Manual System?

In my opinion, all things been equal (which can never be) having a robot trade for you could have been the best since it is a dummy which has no emotion like man, just follow the rules. But when you buy an EA for less than the price of a pair of shoes and you want it to make you a million $$$, is that not funny to say the least? Or when you want to do-it-yourself, you buy a $15 book on programming, went through it for a while and bang!!! you came out with your own EA that will make you another Bill Gates. If it is so easy to do, do you think MT 4 people and others would have make such a thing available to the public? It cannot work all the time and that is why you have upgrades coming out almost every week or month. If it were the holy grail, do you think forex marketers out there will ever sell it to us unless they are richer than Warren Buffet? EA cannot set you free completely from responsibility, in fact when you have a EA that when you will be up and running. You have to keep your eyes open and be ready to yank it off before it burns off your entire account. It could bring you blessing and also curses. In all, manual trading is the best for the small retailer until you have good money to really hire a dedicated team of programmers and trade analysts to help you out. Even now, the two can be combined with great supervision. :shand:

Re: 15 Rules of a Successful Trader

Just like to add one more, if I may:

 

Clean up your charts. Too many indicators will drive you crazy.

 

After 5 years of trading, I've come back to the basic, HH HL, HL, LL and trend lines. I've also appreciate people telling me to learn candle stick and price action.

Mentos,

I could not agree less with you. Keep it simple. Indicators come and go but the simple things has always stand the test of time. If you have too much food at home you might still be hungry, why? Because you are confused on what to eat and same-thing with plenty of indicators, you might still find yourself making wrong trades because you have too much people to listing to now and you can't think straight. It is called Analysis Paralysis. The cure? Purge yourself of all the fancy indicators, less is better.

Re: Forex Taxes

OK. I will start with a question, for USA region. Many Forex brokers do not send copies of trading to IRS, but Stock Brokers DO send copies. Probably because Forex is closer to gambling than is stocks, since there is no real ownership of currencies purchased. It is more of an honor system where you "hope" your Forex Broker will send you your money when you request it.

 

My question is: If we have 5 brokerage accounts (as an example), and lose money with 4 out of 5 brokerages, do we still need to disclose our profits from the 5th broker with IRS? (Assuming we still have a net "loss" for the year when we combine the balance sheet for all 5 brokers.)

Tax preparation is better handled by not just any tax preparer. You should first of all google- forex taxes in US or wherever you are from. Trading taxes in some how complicated and should be given to somebody that knows about it, who also handle many of it per year and follows the frequent changes in the tax code. Such a person will also tells you of so many benefit that can come to you by been treated as a trader and not as an investors. If you are treated as a trader your tax liability may saves you as much as 15-20%. He or she could also tells you if you need to trade as a business (LLC- Limited Liability Corporation) or in your own name. Trading as an LLC has so many benefit to it with lots of write-off, deduction, been able to claim cost of education, computer equipment and softwares, travels and hotel say when you attend trading seminars wherever it might be in the world, deduct your health insurance premium and lot more. You can also deduct the cost of hiring a tax consultant who could be a tax lawyer or a CPA with specialization in investment. Doing a google or should i say a bing search will help you get one in your area. The cost would not be that much and more so since you can claim the fee as cost of doing business. One last thing, before you meet with any consultant do a little reading on you own to be able to get more benefit from the service. More pips to you. :shand:

Re: Beware with FX Online Marketing!

[center:45r97gzn]Great post. You actually have two set of group apart from brokers in the forex trading industry- Forex traders and forex marketers. Forex traders are the people who are actually trading, putting their money on the line, while the forex marketers have figure out that it is better and safer for them to tell you lies, make unsupported promises so as to sell you their wares. If their wares works as they clam, will they be selling it all over the place and putting pressure on you to buy it now because the price would soon go up?[/center:45r97gzn] ;)

Re: Jeff Cooper - Seven Setups

There you go

http://hotfile.com/list/343454/445defc

Re: The Best MT4 Broker Recommended !!!

It is quite interesting that same broker EXNESS i wanted to check up on the forum happened

to be the same one been discussed about.

[tgt123] just came to came to promote his IB business but he did not present the true figure.

A check on their website shows the correct thing.

* Account from $100

* Lot size from 0.01

* Leverage up to 1:200

* Spreads from 0.4 pips

* Instant execution ( most of these conditions are for the micro-mini account)

My question to tgt123(if you are still around) and others who might have have dealings with this

company are the ff:

1. How safe are depositors fund?

2. Do they have any regulatory body overseeing the operation and a body one can report to in case things went south?

3. They claimed on their site that the Russia address is just a postal one with the main operation elsewhere (heard this somewhere). How dependable could they be?

Just been careful before parting with my money with all these scam all over the place.

Re: Fusion v1.1a

Hi,

There are a lot of EA here that are good for swing trading, especially trade that will be on for about a day or two. Am looking for an EA that can do this and i kindly ask for your recommendations. Or if you know of any thread where i can find this information on this forum. Thanks. ^:)^

Re: Bob Iaccino's Forex Classroom

Hi

I tried the http://www.gotomeeting.com/codec but the file did not play. Is there an alternative i can use instead of this? Thanks for your anticipated answer.

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

what i think would be important and interesting are the KEY S/R levels at which the large banks and institutions would look to make their decisions, but i have no idea at what they are looking exactly (may it be Pivots, Fibs or anything else

 

I have heard so much about Key Support and Resistance in the past just a oktoeight said, but is there any MT 4 indicator(s) or a system/method that can help put these numbers on the charts or any suggestion on how to identify these? :)>-