What on Earth makes you imagine this, Tim?! :eek: :eek:
Looking at myfxbook and other brokers I see all of them using automated strategies. Manual or mixed trading are somewhat very few. Forex gurus tell me these tools are bound to failure if no human supervision is present. They tell me to avoid any EAs and do manual trading only.
These tools help in instantly realizing pip changes as they are much faster than humans but ultimate decision should be under human control.
I am completely new to forex and I am currently taking courses in forex trading. I have not opened up a live account yet only demo accounts that I blew up after sometime. There is a lot of patience and a lot of training required as Tallinex rep stated earlier.
I have a personal friend who trades forex… granted she trades her own money, not a managed account of other people’s money, therefore, she can set her risk as it suits her. She consistently pulls 20% per DAY out of the market, and often times more than 20%. She’s not a one hit wonder, she’s been trading profitably for years. I’ve seen her broker statements and her stats.
Always be willing to question what you think is possible.
Why don’t you do us all a big favor here, sknight1, and just ask your trader friend [B][I]EXACTLY[/I][/B] and [B][I]PRECISELY[/I][/B], “spelling it out,” how she consistently makes such great profits? Then you can tell us in a [B]brief [/B]manner her secret. Now I believe that Clint prefers that trading strategies not be discussed on this forum, but should instead be posted on the “Show Me The Money” thread, which is understandable. However, he may be willing to say nothing and let it slide by since it can be tedious, time consuming, and even sometimes seemingly impossible to locate a certain good posting on another very crowded forum. The issue of how to obtain profitability, though, certainly is a quite relevant topic on any forex forum. Without consistent, net annual profitability the entire world of forex trading, onshore or offshore, collapses and trading should then be restricted to a demo account while continuing to search for a decent strategy.
If your trader friend is like most other spectacularly successful traders, though, I suspect that she will just generalize and not really explain completely how she does it. Perhaps she’s afraid that if she tells the whole world everyone will start doing it, everyone will then get super rich, especially the brokers, and retire, and no one will be left to maintain the day to day business of the forex brokerages, etc., or has some other silly reasoning. So at least give it a try, sknight1, and see what she says.
Well if she can show us all how then I think even George Soros would hire her in a heart beat. After talking to many forex professors and gurus in day trading this is impossible to achieve everyday but hey more power to her if she is able to achieve this impossible feat. There are some losses in weeks and people are able to gain everything they lost in a few days as it is a highly volatile business. The best way is to achieve an average gain enough to make you a successful trader. Some people with 500,000 USD who do day trading can make an average of 75k per year with a conservative approach. That is 15 percent average and these are successful traders. I really like to know how your friend does it though as I am being taught forex is very volatile market and to play it safely in there. It takes years of training and experience to be a successful trader. Even then the best and experienced traders loose sometimes. .
I don’t know why people suggest manual trading without e.a.'s there are plenty bad e.a.'s but many good ones too, The best private traders are using “e.a’s” especially the largest institutional hedge funds and banks but they call them quants and have several teams working on them 24/7. Manual intervention, removing old & developing new and or optimizing and updating code+parameters is essential every system is set for a specific type of market you must have allot of experience to know when to turn off set systems and increase risk on others and vise versa, People are always asking for the secret lol there is none you can not learn or copy someones strat w/o understanding the fundementals yourself but if you did you would Already be making $, plus anybody can make more wins than losses the problem is you need to have patience & discipline above anything, but that is not teachable! 15% i hope your talking about stock market because that is pretty weak if im honest, because a decent commercial e.a. Can do %50 anum with under 9% DD so why waste time manually trading?, now when you use many non commercial and commercial tweaked e.a.'s you can double your account a week a day and a hour i have seen real 10$ Grow to 100,000$ In a little over a year(e.a. With manual intervention) Any time there is major volatility i double my account on the move usually all happens in an hour or two just be disciplined to only ride the waves when the waves are good!, but dont do so without more money than you are comfortable losing assume worst case scenario because it will happen eventually so have the right MM the best traders trade only 1lot max on 100,000 and make 10,000%! Another better trader trades only 0.01 per 10k lol i know right, but he does more than 100% monthly because he never losses, Emotions=cloud judgement, thats why people always make ez money on demo accounts if you cant win on demo, run Away this is not for you! Save you hard earned cash!
Good information. Thanks. Now can you plz provide me with the names of some good commercial EAs to me on PM.
Oh I forgot there is no way to PM and even emails posted on here gets the post deleted. So anyways can you plz post any commercial EAs that you liked the best so far.
She has said, several times, “You have to find what works for you.” Meaning the right time frame for your equity, the right candle setups for your psychology (are you a trend or counter-trend trader), etc etc. She has found what works for her and just like many others, it took her years of hard work to figure out what works for her. Even if she laid out step-by-step instructions, people would either poo-poo it from the start, or try it and fail because it doesn’t fit their personal equity or psychology. Thus, there’s really no point in her explaining her method. She’s explained it on public forums in the past and got nothing but grief for her efforts so, eventually she gave up. Each of us has to find our own way, “row our own boat”.
Tim ~ I never said she didn’t have losses.
My point is exactly what I said in the previous post above, “Always be willing to question what you think is possible.”
I have removed all the old red ink from the LIST.
New updates will be added in “new” red ink :18:
I have no objection to chit-chat about (almost) any subject at all, here in this thread, and I hope that other participants here are similarly laid-back about postings that have nothing directly to do with offshore brokers.
However, amid the chit-chat, I hope you guys are keeping an eye on the activities of our offshore brokers. And, especially, I hope that you will continue to share with us here your current experiences — good, or bad — with the offshore brokers you actually trade with. Did any of you trade during the Brexit festivities? And, if so, how did your offshore brokers perform?
I’d be interested to hear some feedback on our four newest offshore brokers —
[B]Finpro Trading, Berndale Capital, LMFX,[/B] and [B]TradeWiseFX[/B]
— from any of you who are currently trading live with them.
Regarding the fun-and-games in the market on Friday, I hope you all made small fortunes (or large fortunes!) — or, at least, escaped unscathed. War stories are welcome here.
Be careful this week. Watch for spastic price moves in some pairs.
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Hi Clint,
I took a few live trades with Tallinex. They had quadrupled their margin requirements in order to protect themselves and compensate for the increased volatility last week, just as many brokers did. After the SNB event last year, I can understand why brokers do this. After all, if the broker goes bankrupt, we can’t play the game.
So, for fun, I watched the spreads on the gbp pairs as the unscheduled polls hit the news wires. Largest one that I saw was a 200 pip spread on gbp / nzd. Wow ! lol
The trades that I took were on xau / usd (gold). The margin increase was still quadrupled but, the spreads weren’t nearly as wonky as the gbp pairs. My best trade on gold netted +250 (on a single trade). I had no issues with entry / stop / target, although I did close it manually.
Three cheers for Tallinex.
Edited to add: aud/usd, eur/aud, & eur/usd pairs have been grayed out in the market watch box since last week. Hovering over the pairs with the mouse gives a pop-up box that says “No”. So, for whatever reason, those three pairs have not be open for trading on Tallinex. Not sure why and as I look at my market watch box right now, they are still grayed out. Not sure of the reasoning behind that. Maybe Paul can chime in and explain.
We’re actually really pleased at how things worked out - almost no accounts were lost due to Brexit, which is a great relief to everyone 
Think that’s wide? … EURSEK hit about 650 pips at one point :o
Thanks …much apprecated
Those pairs cannot be traded - they only exist so that MT4 can price CFDs correctly.
Thanks for the explanation on those grayed out pairs, Paul. Wow on EURSEK ! That’s not a pair that I watch. I focus primarily on: EA, GA, EJ, GJ, EN, GN, and gold.
N
I was searching for last few days for best commercial EA available but unfortunately if there was one someone would only use it for themselves or give it to a selected few as discussed on the forum. I looked at several on Tallinex, myfxchoice too and there were a lot of bad reviews of these EAs on certain websites. I don’t know what is Clint’s policy of discussing the EAs on this thread but there is a thread already on this forum about some EAs and they are all bad to worst. I am sure as you stated there are banks who have teams working around the clock to configure settings as changes occur but then automation would not do anything for a single trader like me. As I recall most of forex teachers are trying for us to use manual trading only and they never recommend EAs for a single trader only if someone knows how the EA works and changes the settings all the time but that would defeat the purpose for a single trader wouldn’t it ? I even tried signal trader and their demo account show exceptional trading but most people stated that it was a scam and they lost a lot of money when they used it for a real account. I know now manual trading is best approach for a single trader.
“Did any of you trade during the Brexit festivities?”
…no way! I closed all positions and stopped all programs Wednesday and didn’t trade again until Monday. The prospect of being unable to exit a bad trade was enough for me to choose to sit this one out.
Great thread guys!
I will be monitoring with interest and posting my findings should I find any. I am on a broker hunt 
Is anyone else seeing major execution delays at FX Choice? I’ve had a support ticket open with them about this for 24 hours and no response. I had to get on Live Chat with them and they asked me to remain patient, which is fine. I thought I would open another fresh account and see if that was any better - nope. Still dog slow, 1-2 full seconds between clicking and actually getting a confirm. Their stop orders are the same way, which is the real major concern of mine right now. I am not a ‘hyperscalper’ (lol) like some of you guys, but 2 seconds to fill a stop order in a fast market is just insanity.
It seems like I’ve had no causalities during brexit after reading what’s been shared around the web and by fellow babypipers above. My broker exceeded my expectation which I didn’t expect them to do - 
Margins weren’t increased and neither were the spreads exorbitantly high. Traded GBPUSD & USDJPY overall the spreads ranged between 1 to 3 pips with spiking up a few times. Thanks to Clint, I found them here on his post and the same thread. I trade with FinPro trading, though relatively new to the broker but I guess the brexit is enough to cement my trust in them. Here one more link that discusses brokers spreads during this time
Survey: How are your cable spreads so far?
And, thanks Clint you’re my man \m/
Thanks for your report, [B]rushilsmith[/B] — I’m glad this thread has helped you.
As for [B]Finpro,[/B] credit goes to [B]john81az[/B] for bringing that broker to our attention back on March 14.
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For the past few months, I’ve tested Bitcoin live accounts with SimpleFX and 1Broker.
I’ve only used a very small amount of Bitcoin, less than $100. (little risk and too small to matter for taxes) Both brokers have performed as expected.
1Broker’s Commodity trades can be slow to enter and exit (a couple seconds), but they don’t claim to have fast execution.
Their EURUSD trades execute much faster than their commodities.
Of particular interest, 1Broker offers a REST API. That’s something very valuable to me, as I prefer to write code in a language that is NOT proprietary.
For me, the API is everything. Dukascopy has a great Java API, which I’ve been locked out of after investing way too many programming hours.
I continue to look for a JForex White Label that accepts US Clients.
As a quick aside, there are a few US brokers that, although heavily regulated, still fulfill most of my requirements. Currently, I use OANDA’s REST API quite a bit. I’ve looked into Interactive Brokers’ C API and may end up opening an account there.
If anyone else has experience in coding and trading Forex as a US citizen while remaining legal and avoiding being shut down by bad legislation and would like to talk shop, I’d welcome a strategic discussion (even if we’re talking US brokers).
I’d prefer to code in C or R and modify to the broker’s API. No broker can modify the C or R programming language and no law (hopefully) will prevent me from using my code.
Worst case, simply modify the code and switch to the next best broker. I’ve been burned twice by writing in a proprietary language, only to have it taken away after many hours invested. …no more!!
Thanks for the latitude to diverge a bit. My 2 cents that are 100% on topic, SimpleFX and 1Broker, in my experience, have delivered as advertised while I was using very small live accounts. I hope that’s helpful.