I do actively scalp on Forex.com but it is a struggle and cannot compete against a good ECN, so that is what you should aim for. The problem that you are facing is one of balance…let me explain.
You want a good ECN but they will only allow you to trade minimum 0.1 lots and you cannot trade robominer with that size lots and $3000 grubstake. You will therefore be looking for a broker that allows 0.01 lots but that is going to limit you to the bucketshops. Also, if you are going to learn manual trading(ugh) then you will also be wanting to do it with very small lots when you eventually do go live.
I would rate forex.com as better than most, although their spreads have not been great of late(they have variable spreads which is a requirement for me).
I would suggest you trade just robominer live for now and then get the hang of the scalping on demo. I cannot emphasize enough that when it comes to scalping, you should be looking at an ECN/STP. You could add your name to the waiting list at TheCollectiveFX, but I would also look at JadeFX. FXOpen have an ECN feed(I wouldn’t bother with their other products) but you have to trade 1 full lot minimum, so you need big bucks to operate there. I hope to try it sometime when I have made some money.
You will find several brokers offering very low fixed spreads; stay away…very far away. There is no such thing as a low fixed spread.
You also need a decent VPS and you need to be aware of latency issues if you want to scalp. Read my response to a question regarding ENC’s(sic) in the broker section to get an idea of what I am on about here.
People are always victims and, in forex, if your broker takes you, it is your own fault not the broker’s. People here will empathize with you but you will be out of pocket and you will never get that money back. If moaning could make you rich, my wife would have made me a billionaire a long time ago:D
My point is…how often do you see about guys moaning about their brokers and re-quotes, slippage, etc…all the time! You need to know exactly what a re-quote is, what slippage is, why it happens and what you can do about it.
I had to laugh when I saw this. I would love to believe I could get away with nothing but automated trading and quit my day job, but everything I read makes that sound like a pipe dream. I really want to get to a point in my life where I do this full time for a living. I hate my job, and I’m completely addicted to forex. I’ve had pretty high hopes for EAs, so it’s nice to see someone else who likes them and has more experience with them.
I actually hate weekends now. HATE them…I swear, something is WRONG with me!
You can run robominer if you are in a particular part of its range with .1 lot size. You need to be towards the bottom 1/3 of the lower range or in the upper top 1/3 of the upper range this way it will not open its maximum of 33 trades per range.
I.ve seen robominer make quite a bit of money in just a few ranges of the grid
buy, sell, but, sell and can do that for months at a time before trending back and closing other orders that have been pending.
Your post assumes that because they know you are using a robot, they then use this knowledge to move price against your trade and make it fail.
Get this straight right now, FXDD is not moving their price against your trade or giving you a different feed to stop you out. If this were true no one would every win with them even with a manual method. They’d just find your SL level consistently and move price to hit it.
If you don’t believe me get a group of other traders together and start a room. Have some trade the same robot, other manual or whatever system. You’ll get the same price feed with maybe minor discrepancies. Go even further have some in the group trade with different brokers. Guess what all the charts will be very similar with minor if any disrepancies in price.
[B]Reputable Brokers do not Stop hunt! Institutional traders and big money stop hunt. Your broker isn’t stop hunting you. It doesn’t matter if you are trading manually or using a robot.[/B]
P.S. IMO you will not find success with a trading robot. Most people that use them are hoping to find the easy way out and make money with little to no effort and or because they have no real knowlege of how to trade manually. A robot can’t change for market conditions or make descretionary choices based on multitue of factors that effect forex.
I challenge anyone here to give verifyable examples of anyone who has become rich off of trading with a robot. At best you’ll find a pitch page with pictures of people with fake testimonials.
I think NOONE will ever make money with a commecial robot. but there are a very select few that do make money and getting there with robots that are not shared to the public.
here is one I am working that is based off of a manual trade system form forex factory. as you can see it’s still very buggy and entering too many times but I will post l;ive stats after next week.
I say if you can’t trade it by hand then don’t bother programming it. why would anyone ever trade something that they have no clue on how it enters or why it enters a trade? how will you know when or why it failed?
yet people still buy these commecial EA’s and blame half of it on the brokers because there are a lot of bad brokers. but fxdd spreads suck, they aren’t a bad broker…
example fapturbo and FTE edition for duskacopy.
now when fapturbo didn’t work there was no reason for everybody to purchase the 600.00 version, even if it is limited to 2000 people? spreads are not that wide on duskacopy but yet still fap turbo evolution failed too.
now how many in this forum or any forum for that matter can trade just like fapturbo or FTE can? none of us! fapturbo failed because the method doesn’t work, not because of the broker. and so will ivybot, euroblaster and every other known commercial EA. it’s just a matter of time.
so in summing things up. learn how to trade manually, and then and only then, if you can even program the system, do so because you are sure it’s it purely mechanical. because most of these systems are too subjective as it is. too many “if this, if this, if if if…” then it gets so filtered it doesn’t trade anymore.
EA trading successfully is earned, not handed to you for 199.95
RoboMiner follows a mathematical approach. The minimum that will effectively cover the entire trading range from historical high to the historical low on the audnzd is $2000 for the eurchf is $2500 and $3500 for both. If you only have $3000 then start with a broker (outside the us) that allows .01 lots for its minimum trade. Forex.com is a good choice. Many broker have the ability to either put your trades on the dealing desk where they trade against you or pass it through to the banks. If you are using RoboMiner then they will put your trades on the pass through pretty much right away. No on wants to trade against a robot that is as patient as the universe itself. To date it has a 100% win ratio with over 3000 trades taken. You can demo trade for as long as you like, no limits.
The statement that any grid system that doesn’t use stop losses is doomed for eventual margin call, is some what antiquated. A stop loss isn’t the only protection system. It not even a good one. If you opened a trade for .01 lots, with a balance of $1000, there is no way you could have a margin call. The price would have to move so far out of its normal trading zone that the world would collapse. Remember you are not trading box tops, these currencies that we are trading is the life’s blood of the country that it comes from. It would be very bad for the world economy to allow one of the major countries to go belly up. There is no secrete to how the system works, just go to the website and read all about it. But I don’t think that you can expect 10% per month, however, 6% to start with is probably doable. The money management system in place will readjust your trades to be more conservative as you get more money in your balance. (You can always adjust the profit/risk performance by changing the balancefactor manually.) Not recommended for new traders.
On the last subject mentioned, there are several of us that make a living wage off of their RoboMiner trades but as for “getting rich”, RoboMiner was designed for safety and takes awhile to make one rich, and no EA has been around that long, especially the newer ones that have now developed to the point that they actually work. So we agree that no one has gotten rich from any EA but the whole forex spot market is only 8 years old. And on the reverse side, as safe as we could make it, there isn’t any system that is 100% perfect either. This would include RoboMiner, but, I will lay claim to the point that there isn’t another system out there that is as safe as the one that RoboMiner uses. And that, I will stake my reputation on.
Note; mathematical trading is a third type of major trading methods. It would go along with fundamental and technical trading. This is true because mathematical trading doesn’t use fundamental or technical analysis to make or close its trades. Therefore it must be a third type. Nice visiting with everyone. Good luck and “may the Forex be with you.”
I like using autopilot like medroid. Autopilot waits until the time is right and then it makes the trade and exits the trade. Medroid hides your EA info from them. I’ve notice a lot of funny business when making trades manually on almost every trade. For instance I say about less than a minute after making a manual trade the chart change direction as if it had a mine of its on and plotted against. I like EA because if you get the right one it will sit there and surprise the brokers on a strong trade that’s very hard to reverse the chart direction
Megaroid is ok just have to be patient. with about 40 bucks left in my account decided to use it and within a day I had two winning buy that did not earn much, about 40 cent each. I am testing Forex InfIinity Pro Elite. It’s good for long trades from my experience.
Yes brokers know what EA you are using. But I still made over 400% profit in about a year and a half, have not lost one trade in over 3000 and I use FXDD as well. If you got a good EA, the games will not avail much. I don’t worry about the brokers, the NFA, now that’s another story.
