Posts by TheCyclist
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Luck is not much of a trading strategy. I've developed good strategies, so the money is not an issue, I'll make it back and a gazillion more. But I do hope people reading this realise what it really takes to make it in not only fx, but trading in general. Years and years of failure and extreme costs in terms of time and money. I've gone as far as to put myself on coding courses to learn how to code to do this. You're not going to buy a $50 EA and make money or follow someone else whose most likely got half a clue and make oodles of money.
But I suppose I should also mention I took $10k to $250k in 6 months on equities once, trading warrants...
$50 000 is the short answer. That includes 18 months development costs at Oanda for $600 a month for 18 months and 10 years of server rentals. And a few false starts. The money is actually the lesser aspect of it. It's the time it took that was/is the biggest cost. So big in fact that I might never fully recover it. The only way I can ever recoup it, is if I can take the rest of my life off and never have to worry about money again. And that's unlikely to happen.
All seeing our arses on martingale then ? Again... Have to follow the sock rule for his lot. You puts your moneys in the machine from your pocket, what you win you put in your sock. When the pocket is empty you go home with whatever is in your sock.
Good luck with that, good result so far, but not my cup of tea.
The only other broker I could find that offers anywhere near those trade sizes was Instaforex, and I wouldn't touch them with a barge pole. The reviews are so bad...
Where, there's no one doing those trade sizes. It's was IBFX or Oanda. That's that. As for the trade sizes, it's the ratio. On that amount of money only take one or two more steps this account is gone. I mean it's not a lot of money, heck I'll take a chance. If you make 6 monnths you're a gazillionare, but the big markets are coming, not always going to be quiet like this...
The results are great, but it looks super risky, the trade size range for just today was from 0.01 lots to 0.99 lots. Yikes ! What are you going to do in 2 weeks when IBFX is no more ?
Johnpaul77 In General Sep 11 at 21:16
Wasn't a scam. They did well for a lot of people for many years. But the volatility went to 7 year lows, it's been nearly impossible to make money lately, EurUsd is having 50 pip ranges for days at a time. Easy mistake to make if you have 10 or 20 thousand clients screaming for trades. Go too heavy, first volatility that comes along - WHAM...! And there you are contemplating your belly button wondering where the hell your life went. Going to be a long road back for them. And clearly they got properly ***** by their broker just to add to their troubles. The one thing I am getting from ......
Johnpaul77 In General Sep 11 at 20:10
Did you guys work out what they were earning ? I did, was over $40 000 a month between the four of them, excluding their own trading income.
Muharram (7h 52min)
Market Snapshot: U.S. stocks rise, stage...(4 min ago)
EURUSD 1.26676 GBPUSD 1.60918
USDJPY 108.073 USDCAD 1.12187
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