Smart FX Technology

Trading Systems Expert Advisors and Automated Trading
936

looks like I start off 2012 with +2.9% I’ll take it!

@mrql I hope you don’t have “hard feelings” I don’t think anyone meant to offend you and I hope you continue to participate.

@alex I’m with you BH will eventually come around

@spotdespot nice to read about your money management. Build on the strong and protect your account from the weak.
As for the compounding thing. I would say that most people lack the discipline it takes to succeed in this business so you are probably right. As for myself, I never touch profits unless it is from my pocket change account. I do tend to move funds around here and there but ultimately I don’t want to take profit out until I am making 50k a month :smiley:

I really believe that those who succeed in forex or in life for that matter do it because they are able to visualize the results. I am focused on succeeding. I see myself doing it and I take whatever actions I have to, to bring me closer to my goals. It really does boil down to psychology but not just psychology in the trade but overall. Some people are happy to be slaves and some people believe with all there heart that they won’t make it. I’d rather be like Charlie Sheen WINNING! lol just kidding

but seriously I don’t know why I’m ranting its just on my mind. Lets make 2012 strong by starting out believing in ourselves and believing in our own success and if anyone tells you you can’t do it than don’t listen to them. For years I have heard people say “if it was so easy everybody would be doing it” It is this type of nay sayer that will discourage you. Nobody ever said it would be easy but it is worth it.

Okay I’m done for now :smiley:

937

Looks like I am with you Johnny. 2.08% for first trading week (Trading hours)!! I’ll take it and let it roll.

One goal I have for 2012 is to develop my portfolio to earn monthly in trading what I make from my J.O.B. (Just Over Broke) consistently. MS & BH make me feel confident that this will happen.

Bring it on!!

Happy Trading!

938

Besides MBT, can anyone recommend another US based MT4 broker good for this EA? Thanks.

939

Hi,
I’m new to the forex trading… I want to bring something off topic, but yet related here, I think, at least to some extent…

From bloomberg website:
Sarkozy, Merkel to Discuss Economic Convergence, Treaty Jan. 9

By Helene Fouquet - Jan 4, 2012 5:20 PM GMT+0600

French President Nicolas Sarkozy and Germany’s Chancellor Angela Merkel will discuss European economic convergence and a new treaty when they meet in Berlin on Jan. 9, France’s budget minister and government spokeswoman Valerie Pecresse said today.

Speaking to reporters after the weekly cabinet meeting in Paris, Pecresse said the government will proceed with its plan for a tax on financial transactions, in spite of the risk of foreign competition, and use the money collected for domestic issues.

The French senate will vote on legislation that makes it a crime to deny any genocide recognized by French law before the end of January, Pecresse said. The bill is a “general” one and isn’t “against Turkey,” she told reporters.

and another one–

France’s Fillon ‘Determined’ to See Transaction Tax in 2012

By Gregory Viscusi and Olivia Sterns - Jan 5, 2012 9:12 PM GMT+0600

France is “determined” to put in place a tax on financial transactions in 2012, French Prime Minister Francois Fillon said.

“It is normal that all sectors contribute to the collective effort, including the financial sector,” Fillon said today at a conference in Paris. “France has never ceased to promote a tax on financial transactions with its partners.”

European Union leaders will discuss introducing the tax on transactions at their Jan. 30 summit, with the levy backed by the French and German governments, and opposed by Britain, home to Europe’s largest financial center.

“We still want to convince all our partners to do it together but France and Germany will take the lead in this movement,” Valerie Pecresse, the French government’s spokeswoman, said in an interview with Bloomberg Television. “France is ready to assume its responsibilities.”

There is a proposal going on imposing tax on financial transaction… it’s rumor that if the bill passes then the tax would be around 15-20% or even more per trade… so will the forex trading be profitable as before??

If the thing is true the scalpers won’t survive…(I might be wrong, as I’m new to the subject)… what’s your opinion robert?? Will MS remain profitable then?

Thanks
Sohel

940

I think, I’ve got the answer.

France Aims for Decision on Financial Transaction Taxes by the End of Jan
Jan 06 2012 11:31:03 GMT
By Stanimir Zhelev , ForexBrokerz.com Website: ForexBrokerz.com

News

France aims to take a decision on financial transaction taxes by the end of Jan to set an example for the rest of Europe
President Sarkozy, said that financial institutions should help repair the "damage" they caused in the financial crisis, calling the transaction tax a "moral issue"
However, the prospect of the tax being applied across the EU appears unlikely in the short term because Britain has said it will only support a tax which is applied globally, while banks call it nonsense.

Background

The EU's executive formally adopted plans in Sept and under the plan, stock and bond trades would be taxed at the rate of 0.1 pct, with derivatives taxed at 0.01 pct.

The Commission said the tax would be imposed on all transactions in financial instruments between financial firms when at least one party to the trade is based in the bloc.

Quotes

“It’s better if Germany is involved. I hope we can do it with Germany. We will keep discussing it in the coming days and weeks, but France is ready to lead by example on this front and hopes it can bring others along,”

Presidential adviser Henri Guaino
The material has been provided by Instaforex Company - instaforex

I was in search of answer… I should have waited before posting here…Sorry for bothering you…

thanks…
Sohel

941

Hello Sohel,
To quote one of my favorite movies, “All they can do is change the rules. They can never stop the game”.
It’s a quote from “Other peoples money”, great movie about trading, financial take-overs, regulations that cannot stop the market behavior, all the good stuff.
Traders will adapt, it is the nature of the financial markets.
We will adapt.
First thoughts, off the top of my head, is that the tax is for European brokers, so maybe we use brokers in Mars, lol…
In the US they passed tough laws restricting Forex leverage, hedging, FIFO, etc., and what did we do?.. we adapted and today’s Master Scalper is even better than our old version-4 was in those days.
Some traders, like us, still keep our accounts in the US, no big deal, in spite of all the regulations. Some traders opened accounts in other countries to keep their higher leverage or hedging options available. They adapted.
Don’t worry, they have been changing rules for centuries, regarding trading of all kinds of commodities. And trading is stronger and more profitable today than ever before.
One possible good spin-off would be for brokers to get less greedy and cut down their spreads, since they need our scalping business to stay in business.
There are so many ways to play the scalping game, short term, long term, flash trading, you name it. If they tax each transaction and add some cost to the trade (which cannot possibly be that much anyway) we will find the optimum settings for our scalper, whether that means adding 1 pip to the TP, or looking for longer term scalps to offset the cost, we’ll see… bring it on, we’ll tackle it one day at a time.
My final thought is: my team will see to it that we remain profitable, and everyone will get their free update as needed.
Like I was saying:
“All they can do is change the rules. They can never stop the game. I don’t go away. I adapt.” —Other People’s Money (1991) …

942

Hello,

I was wondering if Robert or anyone else could let me know where to find a list of dates for the end of oil-futures contracts which affect the Canadian pairs or any other information relating to this?

Thanks

943

Hi Edwards,
Don’t worry about them, they are coded in the EurCad EA, and the bot will flag a NoTrade Day for that pair and skip the entire session. This happens two days in a row, each month.

944

Thanks a lot for the advice.

945

Robert,
Sorry to “hack” the forum with a personal request… I have sent you an email and a PM. :frowning:

I have changed VPS over the week end and everything is ready to go except both EAs do not accept the serial number as it is a different PC. Could you reply to my email with help? Thanks in advance…I know is Sunday… :slight_smile:

946

Hi Tradingshed,
Our mail server (me.com from Apple) has been down since 10 pm yesterday, so we could not get to it. In fact we must have 50 emails waiting for us… can’t believe it’s been already 15 hours and they have not solved it yet. Now they are saying that it will be back up before midnight.
At any rate, your new Serial Number is on the way…

947

Now…that’s a gentleman!

I have received it. Do I need to re-download the software or can I just apply the new code to the software I already have?

How will open trades be managed? Will they be recognised?

Thanks

948

Hi Tradingshed,
Since you need to run the setup file from within the vps (not just copy the files) it may be more convenient to use the new download we sent you. Of course you can upload via FTP the old setup file, same file really… but you do need to install using the setup file so the vps gets authenticated with the Serial Number.

949

Thanks Robert, all done successfully from old files.

How will open trades be managed? Will they be recognised?

950

Tradingshed,
Sure, they run under the same Magic Number, no problem.
But do keep an eye on it… can’t be too careful.

951

Hello everyone, long lurker, first post.
I bought this EA (scalper + Breakout Hunter) and put it on an Alpari Demo Account.
The demo account is set with $5000 and running the BH + 5 scalpers on complete default settings.
Here is the myfxbook link if you want to follow with me : (for now, not much to see but 4 trades going on)

myfxbook.com/portfolio/alpari-uk-demo-smartfx/219774

Edit 2 : oanda test with same settings:
myfxbook.com/portfolio/oanda-smartfx-demo/219799

Edit: I had to contact the ‘live support’ from their webpage for a GMT setting question and ‘Murray’ from the support was very helpful. He also told me I can use the EAs on two MT4 terminals from the same VPS in order to compare two brokers demo account. Thanks mister Murray !

952

outch;)
Aussy took a huge hit… how about you guys?

screen-capture-12.jpg700×143 21.2 KB

It will get back up I’m sure… but maybe I need to keep my eyes on this pair and maybe need to downgrade its risk% :wink:
One hit is too early to tell hahaha

so long

953

Hi Fred,

Very quiet day for my combo. Only 4 positions opened on the EUR/CAD and EUR/GBP closing with small gains. Glad I missed out on that EUR/AUD though. What risk lot% are you running?

Alex

954

Lucky you;) no big deal as it is on my demo account;)

well as the Aussy has performed exceptionally well in december, I put up the lot% to my personal maximum (5,5,5)

955

Hello FredFresh,
That’s the issue with getting the pairs off-balance. One bad hit on the pair whose lots you raise (to triple the volume of default) and it overpowers the whole group. It is still fine if it is the only loss in a while, but I prefer the peace of mind of knowing that no one pair in particular will set me back a couple of days, or worse, because of the unbalanced lot sizes.
Clearly many traders do well with your approach, but I still prefer the nice, easy going, balanced approach. I love good sleep, not the constant running to the computer to see if one particular position is going to ruin my day… If you really believe in one pair, maybe try a 50% increase in those lot sizes. Triple the size is hard to overcome for the other pairs… Just my five cents worth of advice after having seen this too many times.