Nice answering Dale :). But still not clear. Even If I`m a newbie…I like trade gold and in 4 days I almost doubled my capital.
But what u said…for example…If I have 10k…not risking loosing more than 2k?
I don’t have a ‘professional method’ to check brokers, but I know how to google stuff. 
Okay, when I opened 212’s website, my browser warned that the site had red WOT status; while this doesn’t necessarily mean that a website is malicious or a scam, it sure isn’t a good sign.
I then proceeded to ‘Avus Capital’, which is 212’s mother company.
It has been licensed by Bulgaria’s regulatory body to ‘operate as an investment intermediate within the EU’ on June 22, 2011; so it is a rather young enterprise, which makes it extremely difficult to rate.
Avus has a capital of USD 190,000 (EUR 144,000) in Bulgarian currency; I have no idea how they have been granted a license to operate as a forex broker with such a tiny capital. Usually brokers are required by law to have a capital of 20 million.
While I do not want to call them a scam (I don’t have enough data to offer an informed opinion), I definitely would not deposit any money with them.
There are many brokers out there whose track record is easy to obtain, so my advice is to stay away from 212 and rather have a closer look at Deltastock, Oanda and some other brokers … and pay attention to the fact that, if you are a US citizen, most non-US brokers will not accept you as a customer. Some exceptions to this can be found in Clint’s current list of Offshore Brokers.
Cheers,
O.
Thankyou Oliver, nice arguments.I`ll sure go on Delta. How can we keep in touch more simple that posting here? 
Are you now also becoming one of those “well I’ll just jump in on the thread and not bother to read it before responding” type people??? LOL!!!
These pictures:
Technical Trading Systems at TechTraderCentral - Deltastock Pictures
(Posted in an earlier post on THIS VERY THREAD)!!! LOL!!!
Regards,
Dale.
Not meaning to ‘but in’ here but this is not normally the thing we do around here. Not until you’ve got a bit of credibility or are a little better ‘known’ around here.
The above aside: whatever questions you ask and whatever answers you’re given may help other traders which, after all, is the whole purpose of these forums.
It’s up to Oliver1968 of course. Just making a point.
Regards,
Dale.
Alright well if THAT’S what you THINK is going to happen in the REAL world of trading: let me ‘burst your bubble’ RIGHT NOW!!! The ONLY POSSIBLE WAY you could have done that is by risking WAY more (possibly your entire capital) on however many trades it took you to do that. That’s not MANAGING RISK. In other words: you’re just LUCKY that you were on the ‘right side’ of the trade. Think what would have happened had those same trades gone the other way???
My opinion (and this varies GREATLY): if you can average anywhere between 5% - 10% per MONTH of your capital in profit then you’re doing EXTREMELY well. And I DO MEAN EXTREMELY well. There are others here that will tell you that if you can NOT lose your account in the first year of trading that you’re doing better than most (forget profits i.e. just NOT losing your account for a new trader for a year is in and of itself an accomplishement in most cases).
Not what you want to hear but ‘it is what it is’. You MAY get LUCKY (as you have) once, twice, thrice. Maybe even ONE MORE TIME. But the day WILL come (there’s no ‘if’, ‘buts’, or ‘maybes’) WHEN YOU WILL wipe out your entire account if you’re not managing your risk. If there is ANYTHING CLOSE to a ‘sure thing’ in this business IT IS THAT!!!
And your calculations are wrong. 2% of $10 000 is $200 not $2 000.
Regards,
Dale.
I think posting here is quite simple really. 
It has the added advantage of increasing post count, so that soon you’ll be able to post links and send PMs to other forum members.
It also allows others, who might have similar questions, to find answers without having to ask all over again.
O.
I didn’t read the original link closely … assumed it was a standard link to your forum.
Pix are nice … but where is the one of the strongroom? You know, where they store the tons of cash?
O.
Dale is an extremely conservative trader, probably due to having lost a tidy sum in the early stages of his trading career, when he went by gut feeling instead of analyzing setups nicely.
Which, in my opinion, is a nice attitude for a broker representative to have … makes a nice (and professional) change from the many people who try to make their customers believe that they’ll become millionaires overnight by trading forex.
O.
Dunno. I was never given a picture of THAT floor (probably the basement)!!! LOL!!! Unless you’re talking about SEGREGATED CLIENT FUNDS of course i.e. that’s held in banks like Barclays (SHAMELESS ‘punt’ there)!!! LOL!!!
Regards,
Dale.
Yes Dale, I wrong, 2% of10k are 0.02k. Problem is, that I will NEVER EVER EVER EVER…(2 years later)…EVER EVER…have 10k of anything(USD, JPY, GBP). The economic situation of my country, the salaries, …the whole economic system will not afort me that. About luck…I don`t think it was luck…but you know better. Even so, let me explain how I did.
These days…Ive noticed that the gold price was very low every single morning(1720..even lower sometime).But by the noon it was going up to 1740 and even more.So..in the first morning Ive bought gold of all my money, being sure that it will go up(beecause Ive read that when on the graphic is like a W it will raise and when it is an M it will go down.).So it did. That comes that ive doubled my capital. There are days when gold is between 1730 and 1735.In that situation Im doing nothing, because I dont know what can happen.
I believe that is wrong…because I have to know the market, to inform, to read.But, really Dale, to use only 2%?? how much it will be that of my real capital…few dollars? I dont want to become millionare overnight.Actually I dont want to become millionare at all.I just want to be better that now.Not to be forced to work like a slave for $200/month.So don`t want to become millionare ofer night, but not in 40 years.
I am willing to learn…even if it will take 1 or 2 or 4 years.
respect, L
That was luck, my friend; it won’t always work like that. 
I can understand that … working hard all day and just having enough for the most necessary things (if that) at the end of the month sucks. 
But that makes good money management even more important, because if you lose 100 dollars it’ll really hurt.
Making 10% a month of 200 dollars will not give you a huge profit, but it’s better than losing your money … which will happen sooner or later (as surely as the sun will rise tomorrow), if you rely on luck or risk too much of your account on a single trade.
So you have two options:
1.) Try gaining fast by risking a large percentage of your money on each trade.
2.) Gain steadily and risk smaller amounts, and let compounding work for you.
Option 1 might double your account in a week again, but sooner or later luck will desert you, and your money will be lost. I can promise you that.
Option 2 will require a lot of learning and patience, and some discipline; but, starting with 200 dollars today, it can generate a steady income of 1,000 dollars or more a month, in about four years. I can (nearly) promise you that, too.
Option 1 is gambling, option 2 is being a smart trader.
Respect, too:
If you are willing to learn for some time and to forget about gambling, you will succeed in trading.
On this forum there are many really good traders who generate a steady income from trading forex, and they are all willing and able to help new traders to succeed, by giving sound advice … most often based on personal experience, which is the most valuable of all.
I don’t have the time to do it right now, but if you want, tomorrow I can outline a timetable for you, to demonstrate how you could go about making five times your present salary by trading forex, within four or five years.
Maybe (probably) you won’t become a millionaire trading, but you will be able to pay your bills and have enough for a nice holiday, from time to time, and some savings … without working like a slave.
How old are you now, and where are you from?
Cheers,
O.
The only way to make 100% sure your trading with a “real” broker is to trade in a U.S. S.E.C. governed and regulated market (or equivilent). For this criteria to be met, there is no “broker” for forex that will qualify, outside of maybe possibly a few ECN’s, and of course a forex futures broker (which is what I primarily trade with myself)
However, I’ve used brokers like Oanda, and known others who have used IBFX and others with 5 figure sums, and never had a problem.
Jay
Ah c’mon. Give me a break here. New clients (traders) don’t just ‘fall off trees’ you know!!! LOL!!!
And besides: how much more regulation does a broker need (see below)!!! LOL!!!
Why choose Deltastock | Services | Forex Trading
MIFID | FSA | CNVM | FSC | BNB | Regulated Forex Broker
You’ve been a bit ‘scarce’ this last week??? You missed some GREAT ‘action’ over the weekend but it’s been deleted already. I was looking forward to your ‘losing it’ on a particular thread but, as I say, it never saw the light of Monday morning!!! LOL!!!
Regards,
Dale.
@Oliver
If that was gambling, then it meens I know nothing about trading.But I will definetly chose the second option.
About my age and my place… not very clever to post it on a international forum but… Im almost 18..and Im from Romania.Country where dreams come… more dreams.
So, you see Oliver, or Mr.Oliver(i dont know your age, don`t want to be disrespectful) I have nothing to invest right now.Not even a single cent.
Anyway, that`s why I said about speaking other way than forum, because an expert close to me, on skype,yahoo or.smth else…would be briliant.
I`ve started the Fx school, from this site.
respect, Lucus
I’ve been a bit surprised, too, when I read the frst sentence of Jay’s post … until I realized that he actually said that every regulated broker in a ‘proper’ country (US, EU, Australia) is ok.
That is even disputable, if you look at the FXCM fine of 2011. (A very weird case in my opinion, by the way; FXCM must have been very happy to have gotten off lightly with those 14m in fines and another 8m or so in re-imbursements to their US customers. If they were a bank and not merely a broker, their officers would have been charged with fraud and sent to jail … which is where they belong. But of course CFTC/NFA were more interested in generating revenue than in really prosecuting criminals.)
O.
Are you telling me that Bulgaria is not a ‘proper’ country??? LOL!!! Last time I checked (actually that’s a lie i.e. not last time I checked but rather JUST YESTERDAY on Bloomberg TV it was noted that Bulgaria is ‘tagged’ or ‘rated’ as the third ‘most promising’ emerging market or something like that i.e. I’ll ‘scour’ Bloomberg to get the exact details of what they were ‘on about’).
And stop ‘hitting on’ the CFTC and the NFA!!! LOL!!! Let Barney Frank retire with some dignity and in peace!!!
Regards,
Dale.
Edit:
Sorry: ‘Frontier Market’.
China Lone BRIC Among Top Emerging Markets With Thailand No. 2 - Bloomberg
Edit 2:
Check it out (the attachment). Even WE get a ‘mention’. LOL!!!
bloombergpromising2012.pdf (487 KB)
Well, you have done some analysis before entering into the trades (your ‘W’ and ‘M’ formations), but judging from the way you’ve described it (noticing that price was around 1720 in the morning and 1740 at lunch time), your profits were mainly due to luck. What you saw were the first hours after London (historically the biggest and most active Gold market) opened; there is nearly always a drastic increase in volume at this time of day … but the fact that price moved up each of the four times you’ve traded was mainly luck.
Well, profit is profit, so I won’t knock it.
No problem to post it in this forum.
Well, you’re still very young, so you have a lot of time to learn about forex trading ‘the right way’.
If you go about it seriously, you can be well-off at age 25, without having to worry about money.
I’m 43, and there’s no need for the ‘Mister’.
Well, one thing you’ll need to trade forex is some money to get started with.
I don’t really see a difference between posting here or writing a mail, between chatting on Skype or using the BabyPips chat function.
The ‘School of Pipsology’ is a good place to start learning about the basics (and some more) of trading forex.
If you work through it properly, you’ll take some months to ‘graduate’.
Then you start demo-trading for another six months or so, which (combined with the time needed for the school) will give you 9-12 months to find some money as starting capital for your trading.
Don’t worry, you won’t need all that much: if you can manage to save 20-30 dollars a month while you are learning and demo-trading, you’ll be able to start trading … in a small way, but clever money management and compounding will make your account grow faster than you might imagine.
But more about that later.
Now I’ve got to catch the London opening … later in the day, I’ll post some ideas and a sort of ‘timetable’ here, so that you can have a look at how you could go about being financially independent in some years.
Cheers,
O.
Of course Bulgaria is a ‘proper country’ … it’s a member of the EU, so its financial regulatory body has to adhere to EU standards.
As to ‘promising emerging/frontier market’: so are China and Brazil, but I surely wouldn’t invest my money there. ^^
O.
Did you see my attachment to that post (I fear that you were typing your reply while I was editing that post).
By the way Lucus (and for your information) would you JUST believe now that Deltastock also has an office in Romania:
Contact us | Regional Branch | Bucharest | Romania
How’s that for luck on your part??? LOL!!!
Regards,
Dale.