5k to a million in just Months on a Live account

[Mav]

get yourself a dukascopy or interactive brokers account

 

Have you tried GoMarkets?

[Guest Todayke]

lud has given good suggestion and i's also like to add why not try on fxcm trading station as i said its more stable than MT4 and its very easy to open orders and change sl and tp. Its also the same platform as Sebastian is using (i think) why not give it a try

 

 

My personal experiences: FXCM Trading Station is not stable when market make big moves. On 6th May this platform hadn't worked for about 10-12 hours. TPs and SLs didn't work in this timeframe: when price moved cross these limits, position wasn't stopped out. Some positions and some prices were frozen, while others were moving at the same time. Today it happened again for a few hours. I have MICRO account at FXCM. Maybe the standard account has better technical background, but micro has not too good. FXCM MT4 works properly while Trading Station wasn't working.

 

It belongs to the truth that the support is good. After this problems happened, they give me reimbursement connected to this positions.

Edited May 19, 2010 by Todayke

[lud]

sorry, never tried gomarkets. i recommend goiung with a true ECN broker and from personal experience I know of the both suggested are very good.

[fxeasy5]

Dukascopy and Interactive Brokers have too high minimums for me. No way.

GoMarkets is Mt4. I had an account there and the EA (Caspian) was worthless there because the spread

on EURCHF went up as far as 29 Pips during the trading-time of the Caspian.

 

Mt4 is one of the worst platforms when it comes to manual trading.

Just downloaded the FXCM-Micro-Trading Station.

It is fantastic and has everything I need for the millionaire-strategy, but

the posting of Todayke is not cheering me up.

 

Anyways, the guy has traded 5k to 100k on the micro-trading station.

Technical problems did not stop him.

[mtuppers]

Dukascopy and Interactive Brokers have too high minimums for me. No way.

GoMarkets is Mt4. I had an account there and the EA (Caspian) was worthless there because the spread

on EURCHF went up as far as 29 Pips during the trading-time of the Caspian.

 

Mt4 is one of the worst platforms when it comes to manual trading.

Just downloaded the FXCM-Micro-Trading Station.

It is fantastic and has everything I need for the millionaire-strategy, but

the posting of Todayke is not cheering me up.

 

Anyways, the guy has traded 5k to 100k on the micro-trading station.

Technical problems did not stop him.

 

maybe you should find another system to do trades. I had few good systems avilable, but need meta4

[ian]

i am in ....

[lud]

micro accounts are the most manipulated accounts, better to save some cash and go with a ECN. fxcm is knw for extrem spread stetching and a high inital spread, I don´t know why so many use this broker. EU is most times above 2 +commission. crazy.

[Guest Todayke]

Dukascopy and Interactive Brokers have too high minimums for me. No way.

GoMarkets is Mt4. I had an account there and the EA (Caspian) was worthless there because the spread

on EURCHF went up as far as 29 Pips during the trading-time of the Caspian.

 

Mt4 is one of the worst platforms when it comes to manual trading.

Just downloaded the FXCM-Micro-Trading Station.

It is fantastic and has everything I need for the millionaire-strategy, but

the posting of Todayke is not cheering me up.

 

Anyways, the guy has traded 5k to 100k on the micro-trading station.

Technical problems did not stop him.

 

My opinion: Trading Station is very good as an application, I like it. The problem is not that, but the technical background. It's an interesting question: when Trading Station weren't working at micro account, at the same time Trading Station was working at standard account? I think it is not manipulation (at FXCM), just the clients with bigger account get better services.

 

FXCM increased the spreads at micro accounts about 2 months ago. The cause (it's a part of an e-mail of FXCM):

 

Over the years, FXCM has become known for the transparent No Dealing Desk execution we provide to our Standard account holders. When we first launched FXCM Micro, we planned to offer No Dealing Desk execution. However, the banks would not stream prices in micro lots. This was simply unheard of in the foreign exchange industry.

Our FXCM Micro traders have since placed over 30 million trades totaling 200 billion in notional volume, and the banks have changed their minds. As a result, we are preparing to offer No Dealing Desk execution to our Micro clients so you too can enjoy the same execution benefits that Standard account holders currently receive!

 

About the problems of 6th May (FXCM's answer):

FXCM would like to apologize for any difficulties you have experienced trading on May 6, 2010. In particular between 2:30 PM – 4:30 PM ET some clients may have experienced hanging orders or other difficulties.

 

The root causes of these issues were extraordinary market conditions. Unusual events occurred in all financial markets, including the US equity market. In a period of several minutes the Dow Jones Average dropped around 1,000 points and then rebounded several hundred points. The currency markets behaved equally chaotic. At the height of the market uncertainty, several banks stopped providing liquidity and stopped executing trades.

 

BELOW IS TIME TABLE OF THE DAY’S EVENTS & ANALYSIS

 

FXCM did experience a few technical issues that were caused by the strain on the system that the lack of liquidity created. FXCM is going to be fully investigating the technical issues that occurred.

FXCM’s order routing system currently reroutes client orders to actively quoting banks and there are measures underway to improve the order routing and order processing logic. We expect these further system improvements to be rolled out in the coming weeks.

 

May 6th Timeline & Analysis

 

First, institutions were very cautious due to the next day’s UK Elections, US Nonfarm Payrolls, and the Canadian unemployment rate announcement.

 

In addition to that we had several market moving events. These include:

7:45 ET – European Central Bank Interest Rate Decision

8:30 ET – Trichet speaks at ECB Monthly News Conference

14:46 – Dow dropped almost a thousand points and the bulk of the drop happened in less than an hour. The reason behind this drop was reported to be that Citi Bank’s trading desk accidentally sold 16 billion US Dollars worth of e-minis, when they were supposed to sell 16 Million.

After the big drop, two Fed officials came out with back to back announcements to help stabilize the market.

15:04 – Report that Fed’s Hoenig states that tomorrow’s jobs report will be positive

15:06 - Report that Fed’s Evans sees 3.5% economic growth in the US this year

Over the recent months, there has been a strong correlation between the US stock markets and the Japanese Yen. When the Dow plunged today, so did the Japanese Yen crosses. We saw JPY crosses drop between 350 (USD/JPY) and 1250 (GBP/JPY) points. We saw comparable volatility in non Yen crosses as well.

Market volatility and liquidity has returned to close to normal levels. However, there are still some major market moving events coming up so manage your market exposure accordingly.

 

About the problems of yesterday (FXCM's answer):

Please note that FXCM had a server issue yesterday that lasted for a lenghty amount of time. This is really not a common issue and happens on rare occassions. The issue is usually resolved quickly and efficiently. If you had any trades taht you feel were negativel affected by the issue that occurred, please give us all the information, including any ticket numbers,

 

I sent these informations because of better decision making.

Edited May 20, 2010 by Todayke

[skull9971]

lud,do you put order on both side or just one side like the second version?i find it much more safer to trade only one side to minimize the drawdown..

[lud]

i´m just figuring this out. need to invest more time to find this out, but the best ranges form throughout the asia session and mostly break out between 1 hour before and 1 hour after londeon open. since this is my trading time I can´t concentrate enough on this.

 

will try to figure it out but also tend to prefer the one side only. other thing is when taking both directions you need pretty narrow ranges, EJ 40 and have to look for the daily range it has already undergone.

 

sebastian wrote he has now 400%, maybe I´m too sceptic, but since he never wrote about the promised notary statement I have some doubts.

 

somebody should enter the skype chat to figure it out, anybody?

[fxeasy5]

I have no problems accepting the daily screenshots from Sebastian.

Today he made only $17 because he had to trade against $260 loss due to the FXCM-Server problem.

 

I made about 10% on FXOPEN-demo on EJ, closed 8 positions with each 15 Pips TP.

Somehow I had the feeling that the EJ would not drop deeper and therefore I did not open more pending shorts.

This is not science, it is like gambling.

 

But Forex is exactly that: gambling .... comparable to the Casino.

There you can place your bet on red or black. 50:50 chance to be right or wrong.

 

In Forex, nobody knows where the price will go the next second.

All the indicators show only what happened already and we hope that a Heiken-Ashi which is red and has a long body means that price will drop further.

That is nonsense, because the market can turn the next second .

 

It´s all about the odds and some indicators can help to take a trade based on the probability that it might turn out profitable.

Well, those who trade manually know that.

 

It is nice to have the Fib-tool and tell everybody: well see, price has reversed to the .382 level and most of the times

it will turn into the initial direction of the wave.

But it depends on where you place the top and bottom of the Fib-tool.

Depending on the time-frame and where you decide to draw it, that .382-level is the .23-level from another angle or the

.61 -level or the .75-level and from those viewpoints the price should go in the other direction.

Who is able to tell you where it will go ?

 

Enough said.

Today I was lucky, did not open an opposite order and made 10% on Demo.

 

If somebody here knows more about Forex, especially where price will go, please

let us know ....

because if you know where the price will go, you can be a millionaire in a very short time.

[lud]

right, it´s high probability gambling - there are two methodes_

 

ultra long time frame and holding times 4h charts to weekly to eleminate all the whipsaw

 

or

 

ultra short scalping in tick to 1min chart to reduce market exposure.

 

the discussed system is something different but reducs risk through use of hedge positions and small SL, it definatly makes sense adn therefor I ´ll investigate something more.

[mograst]

yersterday I made only $14 because it opened my buy trade while the price then reversed nad has fallen down. So I had to recover 2 loosing trades on gbp/jpy and 1 loosing on eur/jpy. I was lucky and recovered those looses by hedge out those positions and close all with small win. I should had waiting and put other sell orders.. if so i probably had made very good profit... but who knows where the price will go!!!?? Heheh..

Anyway, cna somone please re-post his blog site?

Thanks

[mograst]

some updates: today could be a good day IF.... my hedge order would not ben executed and IF... I could close my orders without requotes!. Yeah soooo many requotes!! incredible.!!! What happens: eur/jpy opened first sell and the just rebounced a bit. If this happens i usually put a hedge order at 25pips distance and Wow look the causallity.. price just goes up 25pips to open my hedge order and then fallen down again!!! Lucky price has fallen down and my orders has ben opened. However i "feel" i should close all my orders manually as my feeling say price will quickly rebounce. So I tried to close all my orders manually.. and wow.. every order I tried to close i had 1-2 requotes so it tokes a lot of time to close all my orders and I ended up with $40 profit while i could had much more. Maybe a "close all" script would be fine. Does somone have a "Close All" script for MT4 and can share?

[lud]

you guys need a real ECN broker, get away from these nasty market makers!

 

blog:

http://fromdemoto1million.blogspot.com/

[mograst]

"lud" thanks for the link. What ECN broker do you suggest? (needs hege) thanks

[Solear]

For small positionsizes: MBT

For normal sizes: IB

 

I use both with Multicharts and Ninjatrader.

[lud]

i don´t recommend mbt, i saw different charts which clearly indicate manipulation.

 

i do recommend dukascopy and IB

 

BTW better to save to open std account as micro accounts regularly are those where you can´t win, these are heavily manipulated

[Solear]

I mean MBT navigator account, NOT MBT MT4-account :-)

MBT is the best solution for positionsizes under 100.000.

for posisizes over 100.000 IB is the best solution.

MBT have updatet his service and speed 3 months before - very good.

[lud]

dukas offers 10k lot, std mini lot and I think Ib does too.

[Solear]

dukas offers 10k lot, std mini lot and I think Ib does too.

 

Yes, with IB you can trade with posisize of 1 if you want...but....you have a minimum commission of 2.5 $ per half turn...

if you don't wanna waste you money, trade with IB no position under ca. 100.000

[lud]

any results yet?

[lud]

he´s now up 500%

 

i would like to read something about his trading room, somebody here is surely a member of his room . please write us something about his system and if this all is true.

[john225]

Till now no notary statement and if you ask him about the statement you wont get an answer :-D

[4xinvestor]

Till now no notary statement and if you ask him about the statement you wont get an answer :-D

 

what does it matter? he's trading live with people in a room and you can see his current results