rickyb's Posts | Myfxbook

Why stop loss order are important and tips ? in General Jun 23, 2021 at 02:25

i read that a lot of pro traders with big firms dont use stop losses. some reasons are if they think direction is right; give the trade time;second they will use hedging trade until direction goes their way again.then close hedging trade.only after a certain time will they close a trade if their reasons are good.why should you close a trade if you think direction is right.? how many times do people do this and see their their trade reverse after stop loss.also the percentage profit per year is usuall 20% to %100 usually.this is not hard if you have big trading reserves .stop loss does not eq...

Leverage in General May 22, 2021 at 04:41

leverage has nothing to do with amount of money you lose per trade.as said before.i have 500 -1 leverage normally. i tried 20-1 leverage with small account and could only open 2 trades at a time at most.as most of account was taken up in margin call..16 times stop loss in fact.leverage could possibly limit trading in some cases.

Need VPS spec suggestions for EA in Programming Jan 23, 2021 at 00:20

hi have a answer ;get a windows hyper v vps. it does not share resources .,single core and upgrade ram if you have to.search for vps close to broker.websites do lists of these if you search.pick your budget.30 charts and 1 ea should be a basic package most times.

Why brokers freeze the Trading platform? in New Traders Dec 09, 2020 at 08:07

because they are scared !!

High Frequency Trading in Trading Systems Nov 28, 2020 at 09:18

e mailed owner price is $650.i would pay that if i could test a week or more on live account with say 0.01 lot to test.his trading results include commission in spread.my broker commission is about half pip;which with a profit of 0.3 pips per trade would result in loss in account.this ea would be very broker dependent on results.your vps location and broker server included in equation.

Are there secret forex strategies in the forex market? in General Oct 10, 2020 at 01:11

i would yes there are secret strategies based upon experience in trading and assumptions that most success would be undetected and be done by large companies with big research teams.you need big money and time to come up with ideas. individuals might be successful too but they too would keep ideas to themelves.would be harder to prove this than come up with winning strategy .remember big forex players have access to areas of stop losses and profit targets.most movement in market is done in london by small group of players who have ideas of making money different from yours and mine....

how to test indicators plus any strategy in Experienced Traders Sep 03, 2020 at 12:52

this is a comment on why many trading systems fail.most hide behind trailing stops and risk-rewards ratios or break even amounts.you need to test on demo or live with 1-1 risk reward ratio. stop loss and take profit only.50% win/loss is benchmark.your target is 55% or more.then you can add other features to protect your profit.you would think indicators or pivot points or candlesticks would beat blind chance.from testing many of them at 1-1 ratio ;most cant.this is why many forex traders fail.so if you can get 60% win rate ;then you will be in a select few.also this has been done ove...

Bonus and Brokers in General Jul 17, 2020 at 07:42

tickmill. $30 free cash when you are a new customer to trade.all profits can be withdrawn.i used it years ago with news ea.i have withdrawn cash before it takes hours;no problems.they now offer rebates on trades as well.not as good as paybackfx.

How long should I start to trade after studying? in New Traders Jul 15, 2020 at 01:39

i would advice doing both.start trading live with small live account;just to get feel of market and thrill trading.some people have never opened a trade before.i know how keen i was to go live trading.i had traded shares before but was boring.actually looking at results in my live account i would be averaging 50% a year if just kept holding shares till now.mean while test different systems on demo.after many years ;changing from demo to real money becomes less of a issue.demo is very accurate for results except scalping in seconds.back testing is always helpful.test many of free e...

Is everyone on here using automated systems or trading for themselves? in New Traders Jul 04, 2020 at 01:44

most people here use auto from what i have seen.

Is everyone on here using automated systems or trading for themselves? in New Traders Jul 04, 2020 at 01:39

good question;has been talked about on many forums for years.auto verses manual trading.good arguments for both. sides.auto wins in the end; because you cant watch market all the time.and any system that relies on human intervention should be able to made in to rules.yes there are times some of your auto trades you make look dumb.rules are rules .this is a simple answer to complex question.manual trades should be for long term trades only.

Show your profitable account here. in General Jun 30, 2020 at 03:45

have followed this thread for some time;and probably best thread about trading on internet.real accounts with real money.accounts are getting a lot better now than ever.is nice to compare account with other traders;always learning something new.the elephant in room is time span of accounts.i started from page 1 to find any accounts still trading.for what ever reason 99% are closed.some in profit.some not.i closed mine with some profit as i didnt think it would last and wanted to change .was correct.so can any one find oldest account still trading.it seems most people can come up wi...

What is realistic forex return? in New Traders Jun 25, 2020 at 04:20

trading forex i like to think expectations are higher.a lot of us retirement funds making 5-10 % on average.with our life savings.sharemarket returns 10 15 % year average on index of all equal shares.there are traders here than can do that in few trades.i told someone i was looking between 500-1000 % as a target.only because i was using small accounts and could afford to lose.that was after backtesting some signal providers once and was getting around 30;000 % per year.on their combined picks all with 99% accuracy.of course when i decided to follow with real money i lost because ...

Raw Spread or standard account? in General Jun 22, 2020 at 04:04

raw spread for major pairs; maybe look at fixed for some minor pairs..was paying over 50 pips spread on gbp/nzd live account on good broker .tickmill early this year when market was moving.raw speads can be wide on majors too ;but not often and mostly below 10 pips.

Whats your opinion on the most important aspects of a trading system in Experienced Traders Jun 18, 2020 at 04:35

to add to confusion there are many traders with negative pip expectancy and positive dollar expectancy. also the other way around.positive pip expectancy and negative dollar expectancy.for a robust system have both and play it safe.

Whats your opinion on the most important aspects of a trading system in Experienced Traders Jun 18, 2020 at 04:19

i have not heard of vantharp so had a quick read online. i agree he said " So in the real world of investing or trading, expectancy tells you the net profit or loss you can expect over a large number of single-unit trades. If the total amount of money lost is greater than the total amount of money gained, you are a net loser and have a negative expectancy. If the total amount of money gained is greater than the total amount of money lost, you are a net winner and have a positive ...

Whats your opinion on the most important aspects of a trading system in Experienced Traders May 30, 2020 at 00:36

expectancy is by far most important figure.anything above 1 and you can maintain for years means you will make big money.you can adjust all other inputs around this number.

how many pips a year do you need to make ? in General Apr 27, 2020 at 09:04

answer is shocking 1 pip.if you knew you could 100 percent make 1 pip;you would put 100 lots on it.or more with different brokers.it is like fishing;you could catch 1 blue fin tuna and get over $730;000 at japan fish market.just 1 fish a year.the point is too many traders are getting lots of pips; profit wise not so.after trading many years i have decided less is more.less trades but more certain of trades with higher lots.what do you think.?

Does anyone want to be a broker? in New Traders Apr 19, 2020 at 00:22

yes ;because there is a lot of services and information all brokers dont provide.also trust levels with brokers are low and they are all faceless corporations more or less to some degree.if they take you money they should be totally honest and transparent.there is always room for excellent forex brokers who are different and understand clients.

Show your profitable account here. in General Apr 10, 2020 at 04:51

as a point of interest;do any of these accounts with great profit have subscribers to follow signal.?i know people say they are making money any way.but there could be way more money to make;i have had many subscribers and half a million dollars following on a less than average system for a short while once.so some of these could make huge commissions.

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Posts by rickyb