Doubling account 12 times in 12 months

[FX_Analyst]

Well they just tell you how will technically work and this is not the problem.

The problem is all about laws, licenses, risks involved…apparently it is very hard and very expensive to get such license. And also it is very expensive to get all things going with all attorneys and fees involved. The other guy talk like it is the simplest thing in the world but it doesn’t look like. Well if you have few million already on a side maybe.

However, I am not an expert about it so I would like to hear what the other guy has to say as he seems like an expert about it.

Trasimaco. Definitely not the easiest thing in the world, probably shouldn’t be either. We are dealing with other people’s money after all. It’s like being licensed as any type of professional (lawyer, doctor, etc.) It is however a viable path for good traders with good risk management skills to make a living in the field. Guys who want to make 100% a year spend most of their short careers looking for the “way” to do it. Traders who understand that 10 to 15% a year is a really good year can spend their time looking for clients and make a really good living. - JP

[Proximus]

@FX_Analyst

Trasimaco. Definitely not the easiest thing in the world, probably shouldn’t be either. We are dealing with other people’s money after all. It’s like being licensed as any type of professional (lawyer, doctor, etc.) It is however a viable path for good traders with good risk management skills to make a living in the field. Guys who want to make 100% a year spend most of their short careers looking for the “way” to do it. Traders who understand that 10 to 15% a year is a really good year can spend their time looking for clients and make a really good living. - JP

Even if you make 1-2%/month if you have a few million dollars to manage then you are making a good living off those comissions.But i think its just better being solo, i mean i dont want to risk other people’s money and imagine if you lose a chunk of it, they would phone you every 5 minutes that they want their money back and probably legal problems after that.It’s just not for individuals, there are plenty of investment banks that can handle this 100% more effective than any of us here on BP.Plus that you have to deal also with marketing your investment fund so that will be costly, and to gain people’s trust.

[Kelton]

Entered long in GBP/USD at 6:35pm est @ 1.61808

[Proximus]

Did you won that, cos at 10:30 it got very bearish?

[Kelton]

[QUOTE=“Proximus;557148”]Did you won that, cos at 10:30 it got very bearish?[/QUOTE]

I got out at + .3pips lol I wanted to go to sleep

[Kelton]

Opened and lost a trade this morning. Lost 16.8 pips after spread.

But entered new position @ 11:51 am est in GBP/USD @ 1.60587. And currently about 17 pips in profit and stop loss has need moved to about 10 pips in profit.

[Kelton]

I forgot to mention the new position is a short.

[Kelton]

Current trade closed at +7.5 pips.

[Kelton]

Opened long trade in GBP/USD at 2:45 pm est @ 1.60455

[Proximus]

Nice balance, curve on fxbook, i will add you friend there, to follow your trade, its an interesting system you have anyway, i think i will try it out sometime when i`ll have time for it.

[Kelton]

I forgot to post the results of my last trade. But hit take profit for + 6.7 pips while I fell asleep.

Up a little over 11% now with 15 trades.

[Proximus]

I m now working on your strategy to make it better since its very interesting, also im curious why u dont use the MFI instead the CCI, didnt the CCI work better for stocks and futures than forex, or atleast i would use either the MFI or the RSI for this purpuse, since the CCI is just now that flexible in forex.What are your thoughts?

Perhaps a DeMarker, i found it very useful on M15, or from my experience its way better than stochastic or MACD what do you think?

[Proximus]

5 min chart Crossover of a 52 period cci set to HLCC/4. With a 2 period simple moving average laid overtop. Also. 2 period HLCC/4 cci set to 5 and 15 min chart. All 3 Above 0 line but and below 0 sell. Also using support and resistance and follow my trades with stop loss.

Wow you are a genious, sorry for the slow reply, but i was working on my own system too, but finally after 2 weeks i finally got to work on your’s too.The CCI is really a very good indicator to follow price action, i think its a very good system you got there, i will try it out in demo and keep you updated with my results.

I hope you dont mind if i modify a bit your system, since i found a few problems with it.

[Kelton]

[QUOTE=“Proximus;561785”] Wow you are a genious, sorry for the slow reply, but i was working on my own system too, but finally after 2 weeks i finally got to work on your’s too.The CCI is really a very good indicator to follow price action, i think its a very good system you got there, i will try it out in demo and keep you updated with my results. I hope you dont mind if i modify a bit your system, since i found a few problems with it. :D[/QUOTE]

Actually lol I ditched that system after I traded live with it for a while. After reading an article about cluster analysis it changed my whole view on the markets and I’ve never been more happy with a single approach. Look up CFP indicator or complex balance indicator

[Proximus]

Yeah it looks nice it shows the power of each currency on a single chart so you can compare correlations between currencies too.

[Kelton]

[QUOTE=“Proximus;562829”]Yeah it looks nice it shows the power of each currency on a single chart so you can compare correlations between currencies too.[/QUOTE]

Kind of. I use what’s called a complex balance line. It is a way to judge how much tension the current market is facing and how far away it is from it’s balance line or average. Using trend lines on the indicator you can successfully choose tops and bottoms and see almost to the pip when the market is reversing.