chrisbenjy

Do you have any programming experience?

 

If not then type in MQL on google and read everything.

 

If you do and you know about programming constructs, variables, data types and methods/functions, etc, then just open up MetaEditor and click the help tab and it lists all the stuff you really need to know, like special meta trader functions.

banked 240pips today in just 2 trades, both went out over the stream.

 

Not taking this but it looks pretty sexy

 

http://img831.imageshack.us/img831/581/capturenq.jpg

 

Thanks syk1kz, I enjoy your trade log,

 

Did you not take the trade because you are happy with today's pip count, or is there something you don't like about the set up?

 

Btw, the S&R lines, are they pivots or is it a different indicator or manually plotted?

5-10% is realistic and acceptable, but 40% + is possible.

First one is shared and there is an interesting trade log as well.

 

http://indo-investasi.com/showthread.php/7365-Benny3-s-Trading-jounal

 

I've seen the second one around somewhere, either on here or on 4shared.com

Lmao, gd job it's a demo account.

 

Btw, what system's you going to be trading on your live account? Just this one or others such as Forex Powerband system?

Intriguing but very very very possible.

What if u started with $100 and doubled your money every month.

0 100

1 200 end of 1 month

2 400

3 800

4 1,600

5 3,200

6 6,400

7 12,800

8 25,600

9 51,200

10 102,400

11 204,800

12 409,600

13 819,200

14 1,638,400 end of 14 months

not even 2 years.

 

Yes that's impressive, but whats more impressive is the 14 months after that.

 

Using geometric series formula Sn = ar^(n-1) where a is the starting value, r is the common ratio (increase each month, so its 2, i.e. it doubles) and n is the number of months, but since the value is taken at the end of the month, (n+1) is the number of months.

 

(100)(2)^28 = 26,843,545,600

 

so nearly 27 billion in 28 months is not bad at all.

 

This is not very likely, but the message of my post is:

 

The more money you have the more money you make. So the early months or years it will seem like your are not making much, but as your account grows, profits will get bigger, providing you are consistently profitable.

Anyone ever looked at or tried hypnosis in order to improve your trading psychology?

 

http://www.hypnosisdownloads.com/personal-finance/trading-psychology

 

I stumbled across this website while bored and it looks quite interesting.

 

I was just wondering whether any of you had ever tried anything like this and whether it would actually work. More importantly I was wondering if any of you know whether there are any side effects of hypnosis, like if it can go wrong and mess your head up.

 

I don't actually think I need anything this drastic to sort out my trading psychology, because it's pretty sound and could be helped just by a few books. But there is a few things on there that seem useful.

 

They have all sort's of things on there like self confidence, relationships, job skills, leadership, breaking bad habits, etc.

 

I'm just asking what people think about this kind of stuff?

Is this for real? Free EA:s? www.search4metatrader.com

www.search4metatrader.com/indicators/

 

I've had a quick look at the EA's on there and it looks a pretty good site. They have Forex Morning Trade Turbo on it and other commercial EA's. I don't know whether they are educated because I've not downloaded any.

Anything under that is usually basic and rubbish.

 

Some people say simple is better, and that the size is low because its simple.

 

The other EA's could be a higher size due to back test curve fitting. :)

you will gain a trading pain if you think you can predict the market :)

 

I didn't say that. I said the market is not completely spontaneous. If it was then indicators would be of no use. If there is a large move on a currency then it usually happens for a reason, such as a news release or another fundamental factor.

 

If it was completely random then there would be less traders and banks would not trade. You don't get banks betting on horse-racing, so why would they trade a spontaneous market?

 

And in answer to your statement. Yes I do think I can predict the market, but not very well at the moment. I still have a lot to learn. I have been quite successful recently with a few trend following systems, but I also need to find/create a ranging system. Previously I used to trade a reversal system, but that was too risky and not very successful so I will attempt to improve that method.

 

Ps. Do me a favour. In my previous post emphasize these words/phrases: 'More often than not' , 'Not always', 'Some'. Then you will realise what I am saying.

the most important is money management, the market is completely random, and thats why there is NO sistem can predict the market, every trade can go bad or good result! so better play with money management so u can always trade later without TOP UP :D

 

It's not completely random. It more often than not gives signs of what the market is going to do. These signs are not always accurate, which is why some trades fail. But the market is definitely not completely random or spontaneous, everything happens for a reason. Finding out that reason is the job of your trading system.

The best broker in my eyes is Go Markets Australia. I am not saying they are the best broker altogether, but they are one of the best brokers that I can have access to due to the small capital that I have. There is no minimum deposit and the spreads you get are very low, especially considering that they are identical to the Alpari Uk pro account spreads which requires a £25k deposit.

 

The customer service is excellent. I get instant replies to emails and they are very helpful. They are also regulated.

 

One of the main reasons I like them is because they offer 'cents' accounts with nano lots that have exactly the same trading conditions as their micro accounts, e.g. same spread, etc. I use this type of account, because I am not willing to risk a lot of money atm, due to being new to the market and still developing my own trading styles, etc. This account allows me to test strategies with little risk.

 

One of the flaws, however, is that spreads can get quite wild for brief periods during off peak times, but this is the same with all variable spread brokers.

 

Like I said before, this is the best broker available to me. It is not the best broker altogether. I would recommend this broker for account sizes <£3000.

EAs are for those people who can take huge drawdown....bottom line you cannot make money if you have a small account....the forex grail of forex trading is using a manual system with 10 pips drawdown!!!

 

I completely disagree with all what you just said.

 

How can you say EA's cannot be used on a small account? There are many EA's that can. A lot of manual system's can be easily made into EA's. So if they are the same strategy, why would you get big drawdown on the EA but not the Manual? In fact, a well coded EA is likely to have less drawdown because it is not subject to human error and reaction times.

 

When people dislike EA's, they are usually people who have no clue about programming and the only EA's they've used are commercial trash with fitted back testing curves to make them look amazing, but lose live.

Hey Musketeer and Swordfish (and to anyone else here who has manually traded this system successfully)... here are a few questions I need to be clarified:

 

1. Do you immediately close an order when you see an entry for the opposite direction? Or do you simply allow both trades to exist until they close out naturally due to TP or SL?

 

2. Also, do you close an existing order when you see a new Entry for the SAME direction??

 

3. How do you guys make use of the Reversal crosses?

 

I don't trade this system, yet. But from my experience I always do the following:

 

1. Yes, if a new signal occurs in the opposite direction then it means that your system believes that price will change direction and stop out your original trade, so I would close the original.

 

2. No. Depending on your risk tolerance you could add to your position when another signal is confirmed or you could just ignore it and not add to the position, but keep it open.

 

3. Sorry I've not looked at the system yet, so I don't know what this is.

http://indo-investasi.com/showthread.php/4085-1st-learning-course-(Lesson-number-1)

Had i of been paying closer attention and looking for setups i possibly would of seen this earlier. It is going with the trend.

 

http://img63.imageshack.us/img63/7069/gbpaudh.gif

 

I like this one. Clearly following trend and has nice tight stop loss.

I've decided I'm going to slightly modify the way I use the system. I'm going to add another indicator: Envelopes. This is because I find that Bollinger bands are not very influential to price, so I'm going to look at using the combination of envelopes and BB. I'm just currently looking at finding the best period for 4h time frame. (I think the best period is one where candlesticks pop their head out every so often, but not so frequently that trades don't have enough time to breathe)

 

I don't know whether it will improve my entries, but during the investigation stage I will stay optimistic.

hehe, I like this guy.

wow that chart looks terrible. Its looks like a game or something. I'm just waiting for this guy to go and eat all them dots.

 

http://www.sevensidedcube.net/wp-content/uploads/pacman.png

or symbian?

Interesting. Where did you get the data from?

Sorry for my ignorance, but I remember seeing a post that said the system was blacklisted or something. Anybody know where I can find the system? (Both the manual system and the Turbo EA thingy)

Thanks syk1kz,

 

I will try looking out for divergence.

 

Btw, I have noticed that alot of the trades you take aren't touching the bollinger band. I might try taking trades like this, rather than waiting for it to touch/pierce the bollinger band, because I find a lot of the time if it reaches the bollinger band, it usually hugs it for a few candles and takes out my stop, but I don't want to increase the stop because the R:R will end to being ridiculously tiny.

 

Also, yes, I don't go on twitter much, but I will start to follow your trades on twitter.

I would say being able to devote enough time for trading is the most important thing. Obviously swing trading on daily+ tf will require less time (probably once a day), but scalping or intra day will probably require a lot more. You need to make sure that your trading suits your lifestyle, work and family commitments.

anybody know whose blog that forex shredder blog is? I was following it, but now he requires that viewers get an invitation.