:rolleyes: I think I could do better if I concentrate more.
Pic of my progress:
Around 70% profit in 6 days work⌠You do the mathâŚ
:rolleyes: I think I could do better if I concentrate more.
Pic of my progress:
Around 70% profit in 6 days work⌠You do the mathâŚ
good for you:) but this is still demo show us this when its real money :))) it
s different demo and real money but i wish you success with your REAL money and results like this
Just as long as you dont think you will make that live every 6 days. Nevertheless an encouraging start and gives you lots to build on. You dont say how long you have been trading but I certainly wish you well
This is nothing special. I have done better then this, I have just deleted my old pics because I have logged the progess. Truth be told, this is what I usually get. Anything under 5% ROI per day is slow. There is usually at least one day per week when I make 15%+ ROI. I have been testing my system now for about the last 4 month and its exceeding my expectations. (Been demo trading for about 7 months). I plan to go live early next year. Also thank you for the compliments.
P.S. I shell post my progess with a live accont here also. (At regular intervals)
P.P.S. I will post a copy of my transcript of my next full week of trading. (This time iâll take it more seriously)
34 trades; 4 losses - averaging $104/trade with a $5k account.
Sure itâs only a demo account but what a great start for Forex4funâs system.
An interesting comparison will be to perform similar trading activity using the same system over the same time-scale with a real $5k account.
Thatâs excellent - well done.
Now - I interested to know what your answer is going to be if someone asks you to post your âsystemâ here.
Regards,
Dale.
My âsystemâ is rather lengthy (over 4 pages of details and data) and what most people would call overly complicated. I wonât be posting details but the basis for it is trading the news using technical analysis. I use multiple charts (2-3) and multiple indicators (8-11) however my system is quite fluid and has a very high sucess rate. :o
Here is a pic of my charts:
OK - so then Iâm confused.
Do you want to sell your system? If so - for how much? How do we get a hold of you?
Dale.
I dont care to sell my system, its not worth the trouble. Iâd rather just use it for my own personal gain. If this makes me a millionaire, then ill probably share it with fellow traders as it would then have some merit behind it. Right now Iâm only demo trading so the real test will be a live account, however I seriously dought there would be much difference. Iâll post my progess as I go along.
However, I must say trading the news seems to be the most effective strategy that has worked for me. I know most people here are scared to do so because of the progressively larger spreads as volatility go up. This is not a problem for me as my spreads never increase, slip or get requoted. This is the backbone of my system.
P.S. - The trend is a really good friend.
Yeh - OK - I was just trying to make sure that you were not trying to âgenerate interestâ in your results and then get people to contact you on Skype or MSN or something like that to âsellâ 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 donât see how it can produce âconsistentâ results (well maybe over time anyway) but hey - if it works for you - well done.
One word of caution - my main âbug bearâ - unless you are trading âlong termâ or âtradevestingâ as I like to call it - there is a VERY DEFINITE REAL DIFFERENCE between demo accounts and live accounts AND IâM NOT TALKING ABOUT THE PSYCHOLOGICAL ASPECTS EITHER!!! On demo platforms you will NEVER get âslippageâ or ârequotesâ and you will ALWAYS get âinstantâ order execution etc. etc. etc. BUT LIVE my friend is a totally different âball gameâ 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 âbucket shopâ)!!! Remember these words!!!
Oh - and by the way âTessâ - how come WE are never so âprivilegedâ to have THIS kind of âinputâ from you on OUR thread!!! You just âpop inâ and âpop outâ over there!!! Whatâs this guy (system) got that I (we) havenât got!!!
Regards,
Dale.
Donât see the point in the thread to be honest - âhereâs my results, arenât they good, not telling you howâ. Good luck mate.
Im not quite sure what you mean by âdecent sizeâ?
Also, I have done months of âshoppingâ for an online forex profider, and have constituded that this has the best conditions I am looking for. It is defintly a grade âAâ 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 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. :mad: 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???
The point of my thread was to give people some hope. If I could do it so can anyone else. I didnât write this thread to show off or anything like that (though it might seem so). And I have written as to how Iâm 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 peoplesâ opinionâs.
Shandy,
Thatâs what I thought as well - but this one âseemsâ to be going in another direction - letâs see!!!
Forex4fun:
Just be careful that you donât give âfalse hopeâ to people.
Let me put it to you this way: I âmessed aroundâ with demo accounts âoff and onâ for about two years or so before deciding that I wanted to âgive it my best shotâ and start trading for a living. In those two years I pretty much stuck to one âstrategyâ (I was not even sure what a âstrategyâ 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 âstrategyâ 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 âshot in the backâ 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 âtuitionâ fees!!!
Iâm not trying to âdisheartenâ you or anything like that - for all I (we) know you have âdiscoveredâ something that is absolutely fantastic and has not been thought of until now - but you have to remember that a âperfectâ system with a âless than perfect brokerâ can still lead to financial disaster. Thatâs the point IâM trying to make here.
Be careful of these ISO ratings and stuff like that (and Iâm NOT saying that there is anything wrong with ACM - I donât 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 âtop notchâ and their âbackupâ and ârecord keepingâ procedures meet a certain standard BUT that does NOT mean that they donât âstop huntâ, âslip ordersâ, âwiden spreadsâ, simply âskip overâ 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 isnât one and maybe itâs something I need to have a look at and âlearnâ about.
I must also say that the title of your thread concerns me as well (you wanted other peoples âopinionsâ so hereâs one) i.e. âmy-demo-profits-leasurly-tradingâ!!! I donât believe that there is such a thing as âleisurely tradingâ 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 âwiped outâ accounts, etc. etc. etc.) and itâs only been for the past two or three months that it âappearsâ that Iâm SLOWLY âgetting the pictureâ. But - on the other hand - maybe thatâs just me although I donât consider myself a âstupidâ person by any stretch of the imagination - as a matter of fact I consider myself âabove averageâ at problem solving and âlogically working through systemsâ (based on what I used to do for a living before choosing this path anyway) etc. etc. etc. but - maybe - Iâm not as âbrightâ as I think I am (I have recently been told that I suffer from âAnalysis-Paralysisâ). I do know this much though - that if you donât at very least try and cover the âbasicsâ 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 youâve had it in the long term if you just âjump inâ. It took me many months and a âsh1tpileâ 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 âpreyâ on the unsuspecting ânew traderâ (as everyone here knows - I HATE the words ânewbieâ or ânoobâ) - 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 âfailsâ - weâll all be here to try and help you figure out and understand âWHYâ (but of course youâd then have to ârevealâ your system to us)!!!
Regards,
Dale.
Forex4fun, Iâm not tryinâ to sound like an ass but dude, your s**t is on pointâŚitâs airtight and it probably wonât 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 yearâŚgo for it, youâve got nothing to fear right? your obviously very confident in your system and it worksâŚstrong chance itâll 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, youâve been demoing for 7 months? jesus christ that seems like an eternityâŚ3 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.
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.
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.
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
Having heard of the FOREX, decide if you want to find more information about it. Execute your decision.
Find basic information about what the FOREX is and how it works. Read and understand the concepts. (List Websites or Other Sources)
Find detailed information about what the FOREX is and how it works. Read and understand the concepts. (List Websites or Other Sources)
Decide if you want to try the FOREX, see if doing so is possible. Execute your decision.
Find extra information related to the FOREX. Read and understand concepts. (Economic Calendars)(List Websites)
Find as many online FOREX companies as possible. Rate these companies from highest to lowest. (List Websites)(List Pros and Cons)
Open a demo account with the highest rated online FOREX company.
Create a FOREX data tables to use as references for your FOREX trading system.
Create a FOREX trading system. Test system. Adapt system. Repeat process until deemed ideal.
Based on the sucess rate of your FOREX trading system, decide if you want to open a live account. Execute your decision.
Find detailed information about the laws that apply to the FOREX. Read and understand the concepts. Execute in legal fasion. (Taxes)
Follow your FOREX trading system until you decide to pause or stop the process.
Iďż˝m referring to trade stakes in excess of the standard 1 or 2 lot averages regularly mentioned on these types of forum threads. When youâre adopting this type of trade mechanism, itâs 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 ďż˝ 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!
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?
[I]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. [/I]
[B]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![/B]
[I]Why would they discourage placing orders during the news or scalping, it makes no differece to them??? [/I]
[B]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. [/B]
[I]Do you have any personal experiance with ACM, if so I would like to know more if possible. [/I]
[B]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.[/B]
[I]Also where have you hear what you wrote on your post?[/I]
[B]Sorry, I don�t understand what you mean by that comment?![/B]
This is my point, you are [B]assuming[/B] everything you have stated without practial knowledge regarding what I have asked of you, which was to be ACM specific. You [B]may[/B] think you know how this works, but from the logical point of view, your statements do not add up. I would like spacific example of what you have said, not just âI know what im talking about, trust meâ, so stop touting that all forex companies are evil and dont want you to be successful. For example, are you making a profit on a live account and your forex company hates you for it? Or know anyon else in that situtation?