Instant Forex Profit System

[mytwopips]

$1,000,000 in US. I guess Sweetpip in Canada watches the same version with Howie Mandel.

All right, now back to instant profits with a purchased ea on the net. My opinion... stay away.

[andyfx]

I second that. If you are looking to purchase a system i think you will be looking more in the area of thousands. Any profitable systems for sale that are genuine will be happy to offer money back guarentee's. And do your home work before giving away your childrens inheritance.
Am i allowed to recommend a site?? I have a friend on a purchased system.

(Well the US would offer $1,000,000. Everything is huge there, some might say unnecessarily so!)

[Dan Krueger]

Dan here, hi!

Maybe I did not put into words clearly enough, what I meant?
Actually I have more ????????? in my head than before.
Well, I have absolutely no idea about forex trading, but I'm not an idiot.
If I had a working forex trading system, I would not sell it for $100 and not for $1.000.000, but keep it to myself and work with it, ok.
And if this "System" would work, as described in the salesletter, everybody would use it and we all would be millionaires. Millionaires only here, even my goldfish could use this system, ok, ok.
But now I'm even more curious about this "System" and think about buying it. I don't care about spending $100 to find out about something, I want to know. But I care about time! If somebody can explain, why I'm wasting my time here, I'll at once forget about this and concentrate on my other businesses ...
Maybe somebody here is interested in helping me to understand the (un) usability of this (or other) system?
You see, only thing I know about forex is, that it's a science. I don't want to become a forex scientist, I only ask myself, if it is possible, to take advantage of this huge market in any form with a system.
For an experienced forex trader this may be a stupid question, because he as an "insider" can only think in his little box of huge experiences doing traditional trading?
For me as an "outsider" there is more room to move. Maybe an example can make clear, what I mean: I use my computer to make money online, this computer is my system. I'm not a programmer and I don't know fortran, except of, that it is, what makes a computer work. But I know, what to do with my computer, to make money online. I have no idea, what happens inside my computer, when a buyer sends me money, and I don't care. I care about success, not the means. When I use working systems in the right way, I'll have success.
Now what is forex, is it a game like "deal or no deal"? Hopefully not, for such a stupid game I don't need a system, as well as for any kind of lottery. But there are very sophisticated, attractive, addictive systems to make you lose money. Don't need such a system for forex.
There are no games you can play with an allways winning system, looks like the same with the forex game?

Recently I read an article about pleople, still searching for a "Roulette System". How stupid is that? 50/50 odds are wasted time (or just fun), but the zero (or even with 00) makes the house win and the gambler lose, in the long run, basta. Is that comparable to forex? I don't hope so.
The only way to win the roulette is, if you own the house. What a "System", to have a share on the other side of the forex table??

Anyways, in my fantasy there may be repeating patterns in forex charts, that analyzed by a comtuter program by the millions can create a system producing more than 50/50 odds. Fantasy, wasted time?

Some links to articles about this topic appreciated (not how to trade or salesletters, please)

Thanks,
Dan

PS: Sorry about my lousy kraut english, my second language ...

[kagein]

Remember what it is exactly the forex charts represent, different people with different opinions as to whether or not a currency is cheap or expensive. It's a highly emotional playing field you just have to watch price spikes after news releases to realise that. Can a computer program accurately analyse these intangible factors? Having said that im sure there a 'systems' out there with a win ratio of 50% or more, will it cost a $100 though?

Trading is not scientific, it takes a lot of practice & dedication and this site is the ideal place to start, with helpful members. Why not work out your own strategy thats suits your trading style, its been pointed out many times by other members, just because a system works for someone else doesnt mean it will work for you.

The reason i say not to buy the 'Instant profit system' because its a short cut and you'll probably find it will take you off the beaten track.

[tonymand]

Originally Posted by andyfx

HEY TONYMAND! Deal or No Deal is British born and bread! Hands off mate!

Ahh, thats why its so good! You know they are finished when they start on with 'I came with nothing .......' !!

[andyfx]

Are we really going to go back to daytime tele?
Im more than happy to if we want...

[tonymand]

Originally Posted by Dan Krueger

But now I'm even more curious about this "System" and think about buying it. I don't care about spending $100 to find out about something, I want to know. But I care about time! If somebody can explain, why I'm wasting my time here, I'll at once forget about this and concentrate on my other businesses ...

You raise some very good questions Dan. I can only give you my perspective on them so I hope its of some use. Why is it a waste of money? because there are many useable systems here on the forum and you can analyse any number of them for free to understand there basis. If such a system worked it would not make the banks millions because they would all be on the same side of the trade and there would be no takers, think about it

You see, only thing I know about forex is, that it's a science. I don't want to become a forex scientist, I only ask myself, if it is possible, to take advantage of this huge market in any form with a system.

No its not a science. Extensive research (most recently quoted in John Mauldins 'thoughts from the frontline' have shown that technical analysis conveys no advantage over the long term. But what has been shown is that trending is a real phenomena and potentially can be exploited. Doing this though is an art and requires psychological fortitude ++

For me as an "outsider" there is more room to move. Maybe an example can make clear, what I mean: I use my computer to make money online, this computer is my system. I'm not a programmer and I don't know fortran, except of, that it is, what makes a computer work. But I know, what to do with my computer, to make money online. I have no idea, what happens inside my computer, when a buyer sends me money, and I don't care. I care about success, not the means. When I use working systems in the right way, I'll have success.

I understand your point but if you dont understand your edge then how will you keep going through the bad times


Now what is forex, is it a game like "deal or no deal"? Hopefully not, for such a stupid game I don't need a system, as well as for any kind of lottery. But there are very sophisticated, attractive, addictive systems to make you lose money. Don't need such a system for forex.
There are no games you can play with an allways winning system, looks like the same with the forex game?

The analogy with Deal is not that it is a game show, but that it exposes the psychology of people which prevents them from winning at trading

Recently I read an article about pleople, still searching for a "Roulette System". How stupid is that? 50/50 odds are wasted time (or just fun), but the zero (or even with 00) makes the house win and the gambler lose, in the long run, basta. Is that comparable to forex? I don't hope so.
The only way to win the roulette is, if you own the house. What a "System", to have a share on the other side of the forex table??

If you have a real edge then YOU are the casino

Anyways, in my fantasy there may be repeating patterns in forex charts, that analyzed by a comtuter program by the millions can create a system producing more than 50/50 odds. Fantasy, wasted time?

I think it is more correct to observe that price action does at times do reasonably predictable things that can give you that elusive edge

Some links to articles about this topic appreciated (not how to trade or salesletters, please)

Sorry dont have. Mauldin is proprietary though free so you can wack that in your browser. I find it far and away the best commentary on all things financial


PS: Sorry about my lousy kraut english, my second language ...

Damn good English actually Dan, best wishes

[waatrader]

Hey Dan based on what i think you are asking re: a forex system, yes there are system outthere that you can purchase that automates your trade based on certain signals(just like any live trader would do) the problem with these is that they where designed with a particular individuals trading style, financial capability and risk tollerance in mind which in most cases are always different from yours. Also the individual who it was designed for would always be able to adapt it ot fit any changes in market activity which you couldnt do. it is best to find your own style then get a system designed to fit your style

[andyfx]

Ok, in your opinion would you not advise taking on a system that suits the hours and tf's you want to trade. Is it possible if dedicated enough could someone learn the in's and out's of a purchased system. I do not think the $100 getrichquick systems are the way to make it but if you make a reasonable investment in a system and commit to it would it not be possible to make it work? Would be interested to get an opinion on that.