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New to the forex world, looking for mentor
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calvinj

Mitglied seit Dec 11, 2009  7 Beiträge Cal (calvinj) Mar 02 2012 at 05:09
EA=Expert Advisor. It does yr thinking n trading fer ya. In other words, it's smarter than u. But WTF? Ain't humans better than AI? Heheheh... Btw , I trade manually ... 160% inc in 5 days. Trade around London opening time till NY open.. If those timeframes are fine then you can follow my account (called Calmly here)

There will always be other winning trades.
hwlm

Mitglied seit Jun 25, 2010  58 Beiträge Max (hwlm) Mar 03 2012 at 11:18
Good job Cal. How did you pick yourself up and do so well? :)

calvinj

Mitglied seit Dec 11, 2009  7 Beiträge Cal (calvinj) Mar 05 2012 at 09:40

   hwlm posted:
   Good job Cal. How did you pick yourself up and do so well? :)


By burning real money as 'fees' for my tuition while trading a live account. I see no point in trading demo accounts bcoz the feel ain't there.

Besides, if it doesn't hurt, you won't learn. So I funded a live account with real money which if I lose, it ain't gonna be pretty. And it did. I saved snapshots of the charts , separated by Asia/europe/ny sessions, studied the charts..pattern ..behavior of currency pairs that interest me... keeping a trading log..

Result of that, i only trade when London starts till it closes..bcoz I trade Fiber, Cable n Swissy only (lower spreads compared to other pairs)..

No doubt, newbies have to do their own study, no spoon feeding bcoz each trader has a different trading style..It ain't pretty but at the end of the day, it's well worth it folks

There will always be other winning trades.
Alanfx1

Mitglied seit Aug 01, 2010  104 Beiträge Alanfx1 Mar 05 2012 at 20:29
Hi currypig

I don´t know any menthor, but I could advise you to study a lot.
You could start with babypips.com they are the best free website to study forex.
Find the best books that you can and start studing a lot.
Anyone that tells you that forex is easy is not telling the truth.
It´s very very hard.
But you will be rewarded a lot if you do it right.
I have some accounts here at Myfxbook and my webpage, tradingboy.com.
Best regards.

Tradingboy

I Trade You Profit. Forex is suitable for smart and patient people...
hwlm

Mitglied seit Jun 25, 2010  58 Beiträge Max (hwlm) Mar 05 2012 at 23:59

   calvinj posted:

By burning real money as 'fees' for my tuition while trading a live account. I see no point in trading demo accounts bcoz the feel ain't there.

Besides, if it doesn't hurt, you won't learn. So I funded a live account with real money which if I lose, it ain't gonna be pretty. And it did. I saved snapshots of the charts , separated by Asia/europe/ny sessions, studied the charts..pattern ..behavior of currency pairs that interest me... keeping a trading log..

Result of that, i only trade when London starts till it closes..bcoz I trade Fiber, Cable n Swissy only (lower spreads compared to other pairs)..

No doubt, newbies have to do their own study, no spoon feeding bcoz each trader has a different trading style..It ain't pretty but at the end of the day, it's well worth it folks


Hi Calvinj,

Thanks for sharing your experience.
Hmm, so what is the one or two thing, in your opinion, that makes you successful?

henrygothie

Mitglied seit Apr 01, 2011  12 Beiträge henrygothie Mar 26 2012 at 08:23
stop dreaming at fancy EA`s... and this is an advices from a 9 year experienced trader :)

if you need help in trading, just pm.

cheers!

fxcapitalcity

Mitglied seit Feb 03, 2012  2 Beiträge FX Capital City™ (fxcapitalcity) Mar 28 2012 at 15:29
We agree with 'henrygothie'... Many traders talk about EAs but tend to leave out some key details. To anyone here who wish to hear us out, this is something we'd like to share with you good people. Here are the key must-know details of EAs:

1) A good VPS (virtual private server) provider is required. Anyone who wants to use EAs to trade have got to use a VPS. VPS basically allows your EA robot to trade your account 24 hours a day. Use a VPS with low latency.

2) Your broker choice. Not every broker supports the usage of EAs. You must be careful with your selection of broker. One of the signs to look out for is, 'Does the broker provide 5 digit prices?' An example of a broker that supports the usage of EAs is ThinkForex. They provide you with free VPS service if you fund your account with $2,500 and above *not sure if they changed their rates

An EA's success is dependant on the price action of the broker. Our advice is to check with the creator of the EA, which broker/s works best for their product.

3) Does the EA use martingale? If it does, please be careful. You can get wiped out very quickly...

4) You must understand that EAs have settings. These settings are usually pre-set by the creators. This is the reality! The pre-set settings may work well this week but fail terribly the next. Why? The market is always changing. There are good EAs on the market, but you may not achieve the results as you were told by the fancy sales pages.

This is not because the EA is lousy or is a scam. It could just mean that the settings were not set right for the week/month. The creators are constantly adjusting their EA settings to reap the best possible results from the markets, and that's how they might be able to achieve the desired results. Whereas you might be using the same EA + with the recommended broker but still not achieve the same results. Get it?

*We end off this little post on this note...

There is nothing wrong with using an EA to trade, but please make an informed decision before allowing an EA to trade your hard-earned cash. Is it logical to allow a $100 EA to trade your $10,000 account, hoping to make a huge windfall? Stay realistic in the forex trading world. EA creators may hate us for telling you the truth.

Your friend in trading,

FX Capital City™

~ This is purely the opinion of FX Capital City and is in no way to be construed as financial advice. Please use your own discretion before taking any follow up action. We're just here to share our knowledge with you :)

fahimshena

Mitglied seit Jun 28, 2013  15 Beiträge fahimshena Aug 28 2013 at 06:39
I also would be happy to find such mentor....

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