Rating: Empty Star Empty Star Empty Star Empty Star Empty Star
A Honest journal
Previous 1 2 3 4 5 6 7 .. 35 Next
walker36

Member Since May 13, 2011  1341 posts Steve Walker (walker36) Jul 26 2011 at 12:31
Hi TheOracle

I would like to tell you about my forex experience.

when started 4 years ago I was thinking I am the smartest one and would collect the money from market.
first I started with a local broker live account and excel sheets. not worked at all.
I have joined the woodie cci club for a year but again no result at all.
then jumo into MT4 pool and learned about the coding.
tested thousands(I mean that) of strategies coded them and backtested.
Lucly found some workings.
buy what I have done at the beggining was with the first loosing trade I stop live trading and worked with demo.

Ihave some suggestions for you if you dont mind wink

- find a reliable EA. you can find some from myfxbook live account working EA s
      or you can find very good critics about EA s here http://eareview.net/forward-tests
- choose your broker
- rent a VPS

fırst you should at least 2months of demo test wıth the EA and wıth the broker you are goıng to deal ın Lıve account.
second you MUST run EA on a stable VPS wıth max 10ms latency wıth your broker.
thırd the free VPS optıon from broker, you must be carefull ıf the EA coded by yourself. Decompılıng ex4 ıs very easy
fourth after 2 months of demo you should start wıth as low volume as possıble wıth lıve and step up very slowly

regards
walker

Trade The Trend! Defend To Price!
James_Bond

Member Since Jan 14, 2010  555 posts James_Bond Jul 26 2011 at 14:27
You're quite disciplined - I would be eager (as most traders) to keep trading until I get back my losses once I lose a trade!

walker36

Member Since May 13, 2011  1341 posts Steve Walker (walker36) Jul 26 2011 at 14:55
I just behaved my self.
so many times
-I missed trade entries with 0.10 pip
-trades stop out with 0.10 pip
-trades missed take profit with 0.10 pip

and so many times I found myself crying infront of screen.
all those things become a pool of experince.

all newbies has start with good trades then suddenly magic dissapears and stats loosing then he starts creates his own rules and nuances and all these rules and nuances make everything harder due trader can enter a single trade due to these rules and nuances. at that point everything has mixed up. it is time to step back and relax.

this is common behaivor i assume every trader lived.

regards
walker


Trade The Trend! Defend To Price!
TheOracle

Member Since Jul 20, 2011  175 posts TheOracle Jul 26 2011 at 14:59
Hey Steve thanks for the advice but I'm in this business long enough to know that in Forex there is no one size fits all approach. If EA works for you ( and I believe it does) go for it. In my case I already found my niche and I just need time. I also tried everything I was aware of in these 4 years. I'm doing pretty good last 6 or 8 months (pip wise) and days like today are part of the game.

Chikot I see what you are talking about but my system is essentially for day trading. My trend lines die with the day.

I managed to get the second failed attempt @ 1.4455 currently +30 patience does pay anything below 4470 and i'm out.

Forex or bust!
walker36

Member Since May 13, 2011  1341 posts Steve Walker (walker36) Jul 26 2011 at 15:06

TheOracle posted:
    Hey Steve thanks for the advice but I'm in this business long enough to know that in Forex there is no one size fits all approach. If EA works for you ( and I believe it does) go for it. In my case I already found my niche and I just need time. I also tried everything I was aware of in these 4 years. I'm doing pretty good last 6 or 8 months (pip wise) and days like today are part of the game.

Chikot I see what you are talking about but my system is essentially for day trading. My trend lines die with the day.

I managed to get the second failed attempt @ 1.4455 currently +30 patience does pay anything below 4470 and i'm out.


absolutly right.
thats why I have not advise any strategie or EA. it is up to you.it will be your choice. I have just wanted to share my experinece may be it should help

regards

Trade The Trend! Defend To Price!
TheOracle

Member Since Jul 20, 2011  175 posts TheOracle Jul 26 2011 at 15:07
Ok I'm out for 33 pips because at this time of the day my house is just too noise for trading. I used to like school vacation time lol !

19 pips yesterday plus 33 today puts me well in line with my weekly goal. Lets see what tomorrow brings.

Forex or bust!
walker36

Member Since May 13, 2011  1341 posts Steve Walker (walker36) Jul 26 2011 at 15:08
nice trade cool

Trade The Trend! Defend To Price!
TheOracle

Member Since Jul 20, 2011  175 posts TheOracle Jul 26 2011 at 15:09

walker36 posted:

absolutly right.
thats why I have not advise any strategie or EA. it is up to you.it will be your choice. I have just wanted to share my experinece may be it should help

regards


Thanks again Steve I know you are trying to help grin

Forex or bust!
walker36

Member Since May 13, 2011  1341 posts Steve Walker (walker36) Jul 26 2011 at 15:21
lets call it `experience exchange`. I am sure more than sure I know you have many experiences that I can learn from you.

regards
walker

Trade The Trend! Defend To Price!
Chikot

Member Since Jan 14, 2010  2189 posts Chikot Jul 26 2011 at 16:07
Yes, there is a lot of ways to skin this cat. But everyone is different. I tried to pick things from others and it did not work well.

Previous 1 2 3 4 5 6 7 .. 35 Next
Consumer Sentiment Index (18 min)
The Wall Street Journal: Microsoft profi...(15 min ago)
EURUSD 1.38331 GBPUSD 1.68018
USDJPY 102.291 USDCAD 1.10225
FxPro
Tools Community Reviews Platform Company Support
Economic Calendar Community Brokers Widgets About FAQ
Forex Market Systems Expert Advisors Features Blog Help
Forex Volatility Most Popular Systems Signal Providers API Twitter Contact Us
Forex Correlation Strategies VPS Services Mobile Facebook Report A Bug!
Forex Broker Spreads Contests EA Programming Translations    
Forex Broker Quotes Forex Charts PAMM Brokers RSS    
Forex Broker Swaps Community Outlook Rebate Programs      
Streaming Forex News   Trading Platforms      
Forex Broker Volume          
COT Data New          
Liquidity New          

Site Map  |   Terms & Conditions  |   Privacy Policy
©2014 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.