Forex-Killer... Anyone Use It?

[BrandonnKim]

Originally Posted by mastergunner99

What is the existing software renders itself obsolete and there are no more further versions to replace?

Then find another indicator. Forex changes so quickly that most software doesn't last very long anyway. But that's the good thing about FK, they are on top of the changes and update their software accordingly.

Originally Posted by mastergunner99

How would this benefit the trader? How can the trader learn how to be self sufficient?

How does using a piece of software to confirm a buy/sell signal keep a trader from being self sufficient? The problem I have here is that this is the reason why 95% of traders lose money. They bounce from software to software, indicator to indicator and never stick with a trading plan. They buy software after software and indicator after indicator, use it one time expecting it to be the Holy Grail and then give up on it because it didn't work the one time they tried it.

Pick something and stick with it. I chose FK and it's been working for me fine. When I stops working then I will get a diferent plan. Until then I'm fine earning money using FK.

[julien]

I spent over 2yrs learning FX and now I do it full making a living. I make the average of 40 to 100pips each trade from large time frame ex : 4h, 6h, daily, weekly. Stay away from smaller time frame and I learned all this from another pro trader( he make 6k to 10k a mth). Don't expect to make 40pips and more for the SL = 30pips, you want to make more money u have to invest more than 25, 30 pips each trade. My SL= 80 pips and it work very well for me, succ. rate = 90%. One trade a week is more than enough to make million. Any strategy will work as long as u stick to your plan and forget about SL=30pips, the brokers know majority of losers set at #. My friend use even higher SL= 150pips, but he only trade 6h and higher to weekly and no target, he close the trade manually.

[Trade It]

The problem with telling people to use a larger stop loss, they think they should use the same lot size when doing so. If you use a larger stop, you need to use smaller lots.

I agree with using the larger timeframes. Alot easier to make "consistent" money with.

Trade well!

[julien]

I learned about SL and TP from a pro trader, if you trade 4h or higher don't expect to make 100pips and lose 30pips, because he told me not to do what majority of people do (95% lose money).. He use SL=80 to 150pips base on 6h, daily & weekly. People use 30pips SL because of greed and fear. I went thru all that and lost money until I follow him and learn to do it right. It took me years to control my emotion.

[mytwopips]

Originally Posted by julien

I spent over 2yrs learning FX and now I do it full making a living. I make the average of 40 to 100pips each trade from large time frame ex : 4h, 6h, daily, weekly. Stay away from smaller time frame and I learned all this from another pro trader( he make 6k to 10k a mth). Don't expect to make 40pips and more for the SL = 30pips, you want to make more money u have to invest more than 25, 30 pips each trade. My SL= 80 pips and it work very well for me, succ. rate = 90%. One trade a week is more than enough to make million. Any strategy will work as long as u stick to your plan and forget about SL=30pips, the brokers know majority of losers set at #. My friend use even higher SL= 150pips, but he only trade 6h and higher to weekly and no target, he close the trade manually.

In another post in Forextown you said you were a scalper? Now what is it? Or are you just full of bull shznit?

[julien]

Originally Posted by mytwopips

In another post in Forextown you said you were a scalper? Now what is it? Or are you just full of bull shznit?

I just followed my friend who is a pro trader. He is busy making money and don't waste his time in forum, I was just bored and want to chat I don't sell anything I don't need u to believe me , don't you think I make any sense at all, majority of people here are losers (95%) and u are one of them.

[mytwopips]

Originally Posted by julien

I just followed my friend who is a pro trader. He is busy making money and don't waste his time in forum, I was just bored and want to chat I don't sell anything I don't need u to believe me , don't you think I make any sense at all, majority of people here are losers (95%) and u are one of them.

You just follow your friend. I thought you were a pro trader. That is what you said. Your opinion of me of being a loser is just that, an opinion. But you being full of bull shiznit is a FACT. This forum needs honest advice. Newbies taking advice from people that are full of shiznit is harmful to their trading education. So get off your friends nuts and learn to trade and stop spreading all that bull shiznit around this forum.

[julien]

Originally Posted by mytwopips

You just follow your friend. I thought you were a pro trader. That is what you said. Your opinion of me of being a loser is just that, an opinion. But you being full of bull shiznit is a FACT. This forum needs honest advice. Newbies taking advice from people that are full of shiznit is harmful to their trading education. So get off your friends nuts and learn to trade and stop spreading all that bull shiznit around this forum.

I learned from the one who drive BMW series 7 not someone like u, the opnion I share here are serious. Ex : most broker are like casinos, they manipulate and you don't trade with the real market. Also patient, discipline, avoid small time frame, use small time frames only after you determine the main trend base on bigger charts, once you know the main direction it does not matter u trade smaller time frame as long u aware SL and TP bla, bla... U don't believe me then go learn more of the broker call hotspot FX. If u know nothing about brokers then u are just another loser. So long, I better spend my time making pips then chat to somone like u.

[mytwopips]

Originally Posted by julien

I learned from the one who drive BMW series 7 not someone like u, the opnion I share here are serious. Ex : most broker are like casinos, they manipulate and you don't trade with the real market. Also patient, discipline, avoid small time frame, use small time frames only after you determine the main trend base on bigger charts, once you know the main direction it does not matter u trade smaller time frame as long u aware SL and TP bla, bla... U don't believe me then go learn more of the broker call hotspot FX. If u know nothing about brokers then u are just another loser. So long, I better spend my time making pips then chat to somone like u.

Take it easy Julian. You have been caught in two lies and that makes you full of bull shiznit. I can see why you are on your friends nuts though, with the BMW and all. My Grandma owns a Buick if that counts for anything

[Eric Martello]

I missed the post where Julien claimed that he was a pro trader...but besides that, what he is saying is that a lot of people here view stop loss as a limit they place on the maximum they are willing to lose with little or no regard to the optimal amount required for the trade to succeed. The proper use of stop-loss is to prevent loss beyond a reasonable threshold for the return you are trying to gain. This reasonable threshold is often a lot higher than what many people feel "comfortable" with...but that's a risk that a trader needs to be comfortable with in order to be successful.

If you are trading on the 1H or higher charts with anything lower than 50 pips SL, you will find that your SL is hit more often than not. Lot sizes should typically be between 10-20% of your account balance.

Julien also makes a good point about identifying the OVERALL market trend by first looking at the broader timeframes before trading on any of the smaller ones. That simple habit can have a dramatic impact on the amount of successful trades anyone realizes regardless of the trading system they elect to use.