SharePosts by myfxpt
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[quote]SDTrading1 posted:
100% agree that basics is best. Main reason being to keep your mind clear and make it easier to follow a plan.
Is good experience at the start to trial indicators and understand how they are lagging etc.
Then once go through that process, just need screen time and getting use to price action.
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Totally agree! Screen time...the more familiar you become with price action, the better your trading will be. You will see something develop on the chart and you will find yourself saying "I think there's going to be a breakout", or "I think there's a r......
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[quote]AndyQuant posted:
I, as an informatic engineer, strongly believe that algo trading is utmost succesful in the long term.Surely Human brain is far more flexible than a program, incredibly fast in information processing but dominated by feelings, stress, and more important... fatigue.
By now the most powerful firms invest in server farm and HFT, rather than skillful traders, makes sense...
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Good point. There is definitely an argument for automation in terms of controlling emotions and fatigue, and for doing the spontaneous number crunching associated with money management. The pr......
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[quote]James_Bond posted:
[quote]wahjay posted:
Hey everyone, i was wondering please,
In order to trade OPM using a PAMM account with a broker (let's say FXCM), should I be licenced from the AMF, SEC or any other authority? Or am i just able to trade OPM like that without any legal structure and then receive my profits??
Thank you !
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As far as I'm aware no. This business is hardly regulated.[/quote]
And that is the biggest challenge by far! That said, we are all adults and ought to be able to decide for ourselves where, and with who, we chose to invest. It is not regulation of t......
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Ethan, I am implying nothing other than the fact that Myfxbook is missing a great opportunity to be different, and not just another "me too" type signal service.
Who's money management? Who's looking to open a $100 account? Actually, I don't really understand your response.
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[quote]invisible555 posted:
The reason why I originally wanted to use them, is that the best results on FxStat ( http://www.fxstat.com/en/performances/view/SistemTF-14914 ) is made by a Spanish team who are insisting on this brokerage (AnkoFx). Stay away !
They are forging these results on their own "ECN" (demo) server to serve as a decoy, so that people want to invest to the fake broker.
One more thing: The Spanish team who is publishing these results on FxStat has homepage, that was registered by GoDaddy.com and, how surprising, AnkoFx.com was also registered by them:
Registered......
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Located in Dominica, but quoting a UK telephone number. It all gets a bit complicated trying to pin down the legal jurisdiction, and that troubles me.
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Wow guys, I thought you would be a little more creative in the way you structured Myfxbook Autotrade. I don't want to be told which broker to use, and I don't want others dictating the size of my start-up capital. If I wanted that I would be using ZuluTrade.
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Why don't you do some homework yourself? Check with the quoted regulators to confirm the brokers' status.
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[quote]sd59 posted:
I agree. It was a bit of a tongue-in-cheek question because when we all start out as newbie's this is what happens in reality i.e we go short with all good intent and the market goes the other way. [/quote]
I know! At one point I thought my broker had me selected for special treatment. Prices are moving up, I buy, and immediately prices begin to move down. So then I would sell, and guess what? Yep, prices would move up!
There is much mention of money management within the various forums, and much lip service. At least this thread has stimulated discussion and input, and h......
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[quote]moneygrows posted:
[quote]XharpScalper posted:
Further more FPA has no conflict of interest with traders where as brokers might have it , use your head FPA is Savior of traders.[/quote]
If you derive income from advertisement slots sold to brokerage firms, then there is a conflict of interest :)[/quote]
So who pays for FPA? Who pays for Myfxbook whilst we're on the subject? There is conflict of interest all around us from national television broadcast networks to your local newspaper, and especially online where we expect everything free of charge. Someone's got to pay somewhere along......
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