My Demo Profits From Leasurly Trading

[dpaterso]

Yeh - OK - I was just trying to make sure that you were not trying to 'generate interest' in your results and then get people to contact you on Skype or MSN or something like that to 'sell' the system for a few bucks!!!

You KNOW what happens to people that try and do that here!!!

Anyway - I wish you well. Trading the news has NEVER worked for me and quite frankly I don't see how it can produce 'consistent' results (well maybe over time anyway) but hey - if it works for you - well done.

One word of caution - my main 'bug bear' - unless you are trading 'long term' or 'tradevesting' as I like to call it - there is a VERY DEFINITE REAL DIFFERENCE between demo accounts and live accounts AND I'M NOT TALKING ABOUT THE PSYCHOLOGICAL ASPECTS EITHER!!! On demo platforms you will NEVER get 'slippage' or 'requotes' and you will ALWAYS get 'instant' order execution etc. etc. etc. BUT LIVE my friend is a totally different 'ball game' as it were (it does of course depend on which broker you use and whether or not they are a good and honest and trustworthy broker or a 'bucket shop')!!! Remember these words!!!

Oh - and by the way 'Tess' - how come WE are never so 'privileged' to have THIS kind of 'input' from you on OUR thread!!! You just 'pop in' and 'pop out' over there!!! What's this guy (system) got that I (we) haven't got!!!

Regards,

Dale.

[shandy]

Don't see the point in the thread to be honest - "here's my results, aren't they good, not telling you how". Good luck mate.

[Forex4fun]

Originally Posted by Tess

As you haven't yet traded your method live with decent size thru ACM, I'd tread very, very carefully if I were you.

I surely don't wish to pour cold water on your plans & ambitions, but if it was my money that I was looking to invest into this very precarious strategy, I most definitely wouldn't be preparing to execute thru anything other than a Grade A or B ECN facility.

A fixed spread deal desk operator (punting into the live market) will have a field day with this type of game plan!

Im not quite sure what you mean by "decent size"?

Also, I have done months of "shopping" for an online forex profider, and have constituded that this has the best conditions I am looking for. It is defintly a grade "A" facility as it was recently ranked number 1 compared to other forex sites, as well as being ISO certified.

The fixed spread is automatic as far as I know, no human involvment so I doubt I can ripped of. For example; the spread on the GBP is only 3 pips which rocks!

Originally Posted by dpaterso

One word of caution - my main 'bug bear' - unless you are trading 'long term' or 'tradevesting' as I like to call it - there is a VERY DEFINITE REAL DIFFERENCE between demo accounts and live accounts AND I'M NOT TALKING ABOUT THE PSYCHOLOGICAL ASPECTS EITHER!!! On demo platforms you will NEVER get 'slippage' or 'requotes' and you will ALWAYS get 'instant' order execution etc. etc. etc. BUT LIVE my friend is a totally different 'ball game' as it were (it does of course depend on which broker you use and whether or not they are a good and honest and trustworthy broker or a 'bucket shop')!!! Remember these words!!!

I have the same fears as you have stated. I keep thinking that as well as I do on the demo I keep having this annoying thought on the back of my mind it will somehow fail. Have any of you that have a live account notice much of a diffrence on it? Maybe you could post some numbers as how far the spreads widen and maybe if the delay is longer???

Originally Posted by shandy

Don't see the point in the thread to be honest - "here's my results, aren't they good, not telling you how". Good luck mate.

The point of my thread was to give people some hope. If I could do it so can anyone else. I didn't write this thread to show off or anything like that (though it might seem so). And I have written as to how I'm doing my trades (news), as well as giving some other basic information, so I have not been totally secretive.

P.S. Thank you for taking the time to respond to my tread, its always good to hear other peoples' opinion's.

[dpaterso]

Shandy,

That's what I thought as well - but this one 'seems' to be going in another direction - let's see!!!

Forex4fun:

Just be careful that you don't give 'false hope' to people.

Let me put it to you this way: I 'messed around' with demo accounts 'off and on' for about two years or so before deciding that I wanted to 'give it my best shot' and start trading for a living. In those two years I pretty much stuck to one 'strategy' (I was not even sure what a 'strategy' was at that point) and one pair and made absolute fortunes in very short periods of time (one particular time I remember turning $50 into just over $3000 in about a twenty four hour period). Anyway - I eventually opened a live account with $500 - and - not changing a single thing i.e. same 'strategy' and same pair - lost that $500 in about thirty minutes or so (and this happened on more than one occasion in the beginning). It was HERE that my learning started NOT in the two years prior. Since then I have posted MANY posts on the subject and been 'shot in the back' many times for saying this but I stand by it. Put it this way - I have always said - open a live account - put your $500 in it - and consider those $500 'tuition' fees!!!

I'm not trying to 'dishearten' you or anything like that - for all I (we) know you have 'discovered' something that is absolutely fantastic and has not been thought of until now - but you have to remember that a 'perfect' system with a 'less than perfect broker' can still lead to financial disaster. That's the point I'M trying to make here.

Be careful of these ISO ratings and stuff like that (and I'm NOT saying that there is anything wrong with ACM - I don't know them and have never even tried their demo) - you have to KNOW what an ISO rating is and WHAT is being rated i.e. someone can get an ISO rating because their computer systems are 'top notch' and their 'backup' and 'record keeping' procedures meet a certain standard BUT that does NOT mean that they don't 'stop hunt', 'slip orders', 'widen spreads', simply 'skip over' orders etc. etc. - as a matter of fact because they run their computer systems so well they can do all of these things BETTER and FASTER than anyone else. Do you understand what I mean? Me personally I did not know that there even WAS an ISO rating for brokers (well at least not for forex brokers) but that does not mean that there isn't one and maybe it's something I need to have a look at and 'learn' about.

I must also say that the title of your thread concerns me as well (you wanted other peoples 'opinions' so here's one) i.e. 'my-demo-profits-leasurly-trading'!!! I don't believe that there is such a thing as 'leisurely trading' i.e. I have put hour upon hour, day upon day, week upon week, and month upon month (you get the picture) into this (reading, studying, testing, losing money, re-funding 'wiped out' accounts, etc. etc. etc.) and it's only been for the past two or three months that it 'appears' that I'm SLOWLY 'getting the picture'. But - on the other hand - maybe that's just me although I don't consider myself a 'stupid' person by any stretch of the imagination - as a matter of fact I consider myself 'above average' at problem solving and 'logically working through systems' (based on what I used to do for a living before choosing this path anyway) etc. etc. etc. but - maybe - I'm not as 'bright' as I think I am (I have recently been told that I suffer from 'Analysis-Paralysis'). I do know this much though - that if you don't at very least try and cover the 'basics' and get information and input from people that have years of trading experience and have been actually doing this SUCCESSFULLY for a living for a couple of years you've had it in the long term if you just 'jump in'. It took me many months and a 'sh1tpile' of USD to find this out!!!

Anyway - like I said before - if it works for YOU - then great - just as long as you are not posting these results here so that you can 'prey' on the unsuspecting 'new trader' (as everyone here knows - I HATE the words 'newbie' or 'noob') - VERY BAD THINGS happen to people that try and do that here!!!

And - by the way - if you open a live account and your system 'fails' - we'll all be here to try and help you figure out and understand 'WHY' (but of course you'd then have to 'reveal' your system to us)!!!

Regards,

Dale.

[Josef Benjamin]

Forex4fun, I'm not tryin' to sound like an ass but dude, your s**t is on point...it's airtight and it probably won't get any tighter until you do this stuff live so you can effectively find any flaws in your system.

If you have the means to get started on a live account (start with a mini if you must damnit!), DO IT NOW! Forget putting it off until sometime early next year...go for it, you've got nothing to fear right? your obviously very confident in your system and it works...strong chance it'll work for you on a live account to provided you manage to control your emotions from the get-go and tweak your psyche along the way.

seriously lol, you've been demoing for 7 months? jesus christ that seems like an eternity...3 months should have been the cut off point and you would have by now have a firm grasp on the reality of trading. By the time I start my live acount mid-late October, I expect to see a posting of your very first live account.

[Forex4fun]

Originally Posted by dpaterso

Anyway - like I said before - if it works for YOU - then great - just as long as you are not posting these results here so that you can 'prey' on the unsuspecting 'new trader' (as everyone here knows - I HATE the words 'newbie' or 'noob') - VERY BAD THINGS happen to people that try and do that here!!!

I would not call people noobs or whatnot, as I know how hard the process can be. My first month of demo trading was horrible, I lost 22 - 52% each week (restarted demo every week). After that I got pissed off and stoped demo trading for a while. Next time I started demo trading I did much more research and made and tried multiple systems until I settled on this one. It was definetly an aggravating period for me.

Originally Posted by Josef Benjamin

If you have the means to get started on a live account (start with a mini if you must damnit!), DO IT NOW! Forget putting it off until sometime early next year...go for it, you've got nothing to fear right? your obviously very confident in your system and it works...strong chance it'll work for you on a live account to provided you manage to control your emotions from the get-go and tweak your psyche along the way.

I dont have the means, thats why I have to wait until December to save up enough cash to open a standard account ($5000). A mini account is $2000 with my company, so I might as well save for the better spreads of a standard.

I have mastered my emotions because the systems is going as I expect it to. Even when I make a mistake, it will not go past a certain amount so I dont get scared.

[Forex4fun]

I have decided to post the steps I have used to make my system work. Its really more of a check list but I think it may help some people.

GUIDE TO FOREX SUCCESS

by Forex4fun

1) Having heard of the FOREX, decide if you want to find more information about it. Execute your decision.

2) Find basic information about what the FOREX is and how it works. Read and understand the concepts. (List Websites or Other Sources)

3) Find detailed information about what the FOREX is and how it works. Read and understand the concepts. (List Websites or Other Sources)

4) Decide if you want to try the FOREX, see if doing so is possible. Execute your decision.

5) Find extra information related to the FOREX. Read and understand concepts. (Economic Calendars)(List Websites)

6) Find as many online FOREX companies as possible. Rate these companies from highest to lowest. (List Websites)(List Pros and Cons)

7) Open a demo account with the highest rated online FOREX company.

8) Create a FOREX data tables to use as references for your FOREX trading system.

9) Create a FOREX trading system. Test system. Adapt system. Repeat process until deemed ideal.

10) Based on the sucess rate of your FOREX trading system, decide if you want to open a live account. Execute your decision.

11) Find detailed information about the laws that apply to the FOREX. Read and understand the concepts. Execute in legal fasion. (Taxes)

12) Follow your FOREX trading system until you decide to pause or stop the process.

[Tess]

Originally Posted by Forex4fun

Im not quite sure what you mean by "decent size"?

Also, I have done months of "shopping" for an online forex profider, and have constituded that this has the best conditions I am looking for. It is defintly a grade "A" facility as it was recently ranked number 1 compared to other forex sites, as well as being ISO certified.

The fixed spread is automatic as far as I know, no human involvment so I doubt I can ripped of. For example; the spread on the GBP is only 3 pips which rocks!

I’m referring to trade stakes in excess of the standard 1 or 2 lot averages regularly mentioned on these types of forum threads. When you're adopting this type of trade mechanism, it's absolutely crucial to maximize your exposure when live in the markets.

The laws of risk & exposure are severely tested when attempting to execute on very short windows of opportunity in the market.

If & when you eventually arrive at the point where you’re generating a consistent return on your time & capital, you’ll presumably want to maximize that effort by increasing your position size in accordance with your growing capital base? Which is the accepted standard in any business.

The difficulty of this exercise arises, when you come into conflict with your “business associate” (in this instance – your broker). If your business model doesn’t sit comfortably with that of your partner, you’re left high & dry.

You may possess the most rigid & airtight news trading model in the retail community, but if you can’t execute it according to your parameters, it’s going to dramatically affect both your income stream & more importantly, your psychological well being.

ACM is a dealing desk broker – fact.
They operate a fixed spread/no commission deal, whereby they control the playing field. If they don’t agree with your game plan, believe you me, they’ll discourage you from implementing it….fast!

Like any other retail shop, they don’t look kindly on scalpers or news trading operators. Those types of strategies simply don’t sit right with their business models or reflect the kind of business which their wholesale (price) suppliers are looking to attract.

As you will quickly ascertain when you eventually begin to trade live – they’re certainly no Grade A facilitator.

And they most certainly do possess a dealing desk (whether human or automated) to which they’ll use as a cattle prod as often as they deem necessary!!

If you genuinely feel you possess a workable strategy which has the potential to reward you accordingly, then you might just need to go back to the drawing board & make certain your choice of (trade facilitator) broker matches your game plan!

[Forex4fun]

Originally Posted by Tess

ACM is a dealing desk broker – fact.
They operate a fixed spread/no commission deal, whereby they control the playing field. If they don’t agree with your game plan, believe you me, they’ll discourage you from implementing it….fast!

Like any other retail shop, they don’t look kindly on scalpers or news trading operators. Those types of strategies simply don’t sit right with their business models or reflect the kind of business which their wholesale (price) suppliers are looking to attract.

You are correct that ACM has fixed spreads and no commissions. Therefore they make their profits from the spreads. That means everytime I make an order they make money, even if I make a profit or not. So the more trades the better for them. Why would they discourage placing orders during the news or scalping, it makes no differece to them??? Do you have any personal experiance with ACM, if so I would like to know more if possible. Also where have you hear what you wrote on your post?

[Tess]

they make their profits from the spreads. That means everytime I make an order they make money, even if I make a profit or not. So the more trades the better for them.

Yes, they do indeed profit from the spreads. They also delay & bias quotes at certain times during the various trading shifts , just enough to increase the % cut even more in their favor. Remember, they’re a business. You win – they lose!

Why would they discourage placing orders during the news or scalping, it makes no differece to them???

They won’t discourage you if you’re consistently net negative. If it suits their end, you can punt thru news data & scalp to your hearts content. So long as you’re regularly re-funding your account due to losses, they’re happy.

But once they cotton on that you’re operating a successful strategy, which is extracting said profit at their expense & particularly booking profits on reasonable size, they’ll be onto you quicker than a flash.

They can’t offset your position onto their risk book fast enough, because you’re generally only active during short windows of opportunity.

They only deal with limited wholesale suppliers (sometimes as few as 2 Banks), therefore it’s impossible to lay you. They have to absorb your positions & if you’re taking them regularly for x% week in, week out, you & others like you, are impacting their bottom line.

Do you have any personal experiance with ACM, if so I would like to know more if possible.

No, I don’t. But I’ve been around this business long enough to know what I’m talking about.

My brother-in-law worked in various roles (including front desk) for a well known retail shop in the States from 2001-04, we also have a British trader working with us who transacted for a high profile Spread-bet outfit back in early 2000-03, so we know exactly what they get up to on a regular basis.

Also where have you hear what you wrote on your post?

Sorry, I don’t understand what you mean by that comment?!