BellaVista507's Posts - Page 12

agung 2012 in Strategies Feb 22, 2013 at 15:56

If a person tries to sell you an EA. He is trying to scam you. If I have a script which can profit even 50% a month. Why would I sell it?

agung 2012 in Strategies Feb 22, 2013 at 15:52

Drawdown is an overused and irrelevant stat. As in drawdown doesn't take into consideration how much the person has deposited and withdrawn. So if a person has deposited 10k usd, and turned it into 50k usd. If they withdrew 48k usd, and played with the 2k and margin called. It would show a 99.99% drawdown. :) Yet who cares if he was playing with profit anyway. What is important is the PIP drawdown based on the positions which is taken. That tells you how efficient the persons entries actually are.

ScalpingOn1m in Strategies Feb 22, 2013 at 15:47

Hello everyone. I don't use an EA for this trading. 100% of it is 1m candle formations. Please look at my "forward test". As that will reveal my avg draw down (per point) on all positions taken. 3% of my account this past week I have use with martingale and it has worked very well for me. Should I get this account to 6k dollars. I'll be willing to manage anyone's account via PAMM for those who are interested.

Use of martingale strategy in Experienced Traders Feb 22, 2013 at 14:26

It isn't about survival. Its about earning profit. As of right now this month I am up over 100% No swing trader can preform that. Not in one year, or even 5. So you can't look into the future, as it is filled with insecurity. Scalping + martingale is the way to go. I've used it and it has worked well. I actually use Martingale on 3% of my trades. Which has resulted in a total of negative 17 pips profit, but over 100%. Investing is by far the most risky investment of them all... Look at 2008! When they pull the plug on the market, you won't have a chance of getting out.

Taking the Opposite Trade in Experienced Traders Feb 22, 2013 at 14:25

Yet, why would one want to wait months just to Break even or turn profit. Those who bought eur/usd above 1.40 2 years ago have locked there money for who knows how long. That isn't smart money.

Is compounding necessary? in New Traders Feb 22, 2013 at 11:13

Yes it is all in theory. Yet, people who have PAMM accounts. Those people aren't compounding. As I mentioned if you compound you better be sure that your entries are picture perfect. As if it isn't and you end up in the hole maybe 20 pips. You will let that losing position ride, and you wont have an free margin to try to make better trades. The key to forex is not only making profit, but your recovery factor. Please look at my linked account, and look at my recovery factor.

Taking the Opposite Trade in Experienced Traders Feb 22, 2013 at 10:23

Very sell sad. Well looking at my trades today. You will see that taking the reverse trades actually does work. I have done it all week, and look at the results it has given me.

TraderS Chat & Hang Out! - Drop Your Live Calls On this Thread. Open to ALL in New Traders Feb 21, 2013 at 23:45

Doesn't appear your "NEW" system is any good.

Taking the Opposite Trade in Experienced Traders Feb 21, 2013 at 22:16

Yet that is just it. You have to be able to identify key zones which would suggest if you should take the reverse trade or not. Almost 100% of the times the first trade will result in your sl being hit first. Yet, if you can be selective on your entry, you should be able to fail the first trade with very low cost, and bank big on the reversal. One should never get in on a breakout. Always while the market is in accumulation or if a key resistance/support has been RETESTED to be broken.

FX Book EA not tracking?? in General Feb 21, 2013 at 07:41

Good evening. Please have a look at the attachment I have posted. Do you see what is highlighted in yellow towards the top of my terminal? Does yours look like that?

Taking the Opposite Trade in Experienced Traders Feb 21, 2013 at 06:44

Scalping is a form of TRADING. Regardless if your swing or scalping. You simply have to look at your entries. Take the avg amount of points in which you enter in red maybe 10 pips before you win 10 pips. Even if it is a 100 pip tp. The reality is most of us are trying to earn the most pips we can. So why not take the reverse trade and gather points instead of being bias towards the first position?

Taking the Opposite Trade in Experienced Traders Feb 20, 2013 at 20:20

Taking the opposite trade is the "BEST WAY TO TRADE". For one simple reason. No indicator, or forex guru can predict the price action which is to come. So all though your system or someones recommendation may work at first. Playing the reversal simply means your going with the price action. Not against it. No one in there right mind would take a position in which they "KNEW" they would end up being in red 50 points before they made 50 points. If one honestly believes that then they should take the opposite trade. Especially when your in profit and your BE gets hit. I do it...

Is compounding necessary? in New Traders Feb 19, 2013 at 19:54

Not bad at all! Yet your speaking in "THEORY". Theory mostly shows you a one sides equation. Even a FLAT pancake has two sides my Mom always told me. I won't sit here and become pessimistic in order to disprove your "theory". Instead one has to factor in losses. The only expense which your accounting for is "spread, and taxes". Yet, those should be the least of your concern. The issues with compounding is with one loss, you can easily wipe out the last 10 trades profit. That is by simply reinvesting with profit. Take a look at my last 14 trades on myfxbook. I ...

Is compounding necessary? in New Traders Feb 19, 2013 at 18:09

That is exactly what I am saying. Yet, most of those who use the word compound. Use it in the sense that what ever profit they have earned. Then then increase there lot size based on that profit. That is exactly what it is I was referring to. Sorry for not elaborating on it. As for me. You can check my open book to see what I've done. I may have turned profit after a few positions. I would then withdraw the profit, and continue with my principle. At that point I may increase my leverage/ lot size. Yet I have protected my profit. So in a sense I'm not compounding as my profit is protec...

Is compounding necessary? in New Traders Feb 19, 2013 at 14:48

If I may add something. I for one don't believe in compounding. Nor do I believe in "risking 2% of your account persay" Reason being. Say your an emotional trader. Yet, you have a very good system. You may very well experience a winning streak of 5 days, without a single loss. If your compounding, it is obvious to see that your profit is exponential. Yet, one loss would hit your account beyond the point of no return. You'll then become emotional, thus throwing your system out the window. Using such low equity with a position is also very pointless to me. Only because your as...

Binary Options Anyone? Anybody got any experience with Binaries? in General Feb 15, 2013 at 11:01

How many people make money out of 10 make money "IN THE LONG RUN" from standard mt4 trading? Stat says less then 1 person. :) If you have a system which works. Then trading binary makes sense. As points isn't your stop loss. It is merely time. Say you have identified a top or bottom. Why not trade options? As in most cases when a top or bottom has been formed, you get a bit of whip lash. That whip lash won't effect you trading binaries. Yet, I assume you have seen the video, and because this person was able to make over 1000% profit. By nature your response would be "It ...

Taking the Opposite Trade in Experienced Traders Feb 15, 2013 at 10:36

I'd have to disagree. One of the most misinterpreted lingo in forex is "Money management". Many individual factors make up this lingo. Yet, in no way shape or form is ones "entry" factored in. I've noticed that most traders, assume their entry is the perfect one. Which leads to trade bias once the position goes against us. Here is a prime example. Most of us trade eur/usd.... EUR/USD has a daily trading range of about 80 pips. Most of the people with "GREAT MONEY MANAGEMENT" have a stop loss of around 200-300 points. Almost 3x eur/usd daily range. How coul...

Binary Options Anyone? Anybody got any experience with Binaries? in General Feb 15, 2013 at 10:14

One can not enter 60 sec options at any given time. Well you can, yet it isn't recommended. If a 1min candle breaks an accumulation range. It would be safe to say that the next candle will head in the same direction. Here is the video of the binary options trader. You can clearly see his success using the 1m option. Please don't counter by saying "It was luck" http://www.youtube.com/watch?v=FXhZS4sHi0k

Binary Options Anyone? Anybody got any experience with Binaries? in General Feb 15, 2013 at 09:09

Good morning. I'm new here and took interest in this thread. I would say much like anything. A lack of preparation will lead to your demise in forex. If one has a system, and a plan. You can become successful with binary options. There is a video floating around of a trader who used martingale and binary only to have profited over 1000% in a week. Of course results may vary, yet it can happen to anyone of us.

EURUSD	1.0816	GBPUSD	1.2721	AUDUSD	0.65344
USDJPY	156.644	USDCAD	1.37375	USDCHF	0.8962

Posts by BellaVista507