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New Forex wannabe

Jeff_fx
Oct 06 2014 at 15:13
posts 20
topastop posted:
Jeff_fx posted:
So, I should be looking for an account manager, right?

If you don't want to lose money. Yes.

Talk with your bank, it is the best way.
What if the manager is recommended by the broker?


That is both a small stake and a big risk, but reasonable if you are putting the money in someone who isn't a professional trader.
If you are going for a professional trader (and I must say it again, you won't find one here) you should think about increase your stake before. Hedge fund ask for huge deposits so your bank might have better options for you.
The 1000 is just example.

There is no maximum, however professional traders aim for a 2% - 2.5% a month. You see things here like 50% a month which is totally crazy and those accounts on day or another end up in the 0's.
But 10% monthly can be done somehow... hopefuly.

Hedge funds and banks. Basically, real and professional traders.

I have seen some but they seem very conservative.
What you think the monthly return should be for a 30% DD, for a 20% DD?

Well can you help me find someone? I'll appreciate it.
Looking at 8% monthly minimum, what you think? what might be the DD %?
Jeff_fx
Oct 06 2014 at 15:14
posts 20
@topastop

I see at your page https://www.myfxbook.com/members/topastop
That you are making about 10% and DD 20%
That's interesting.

But why you mentioned that professional traders aim at about 2% - 2.5% a month?
I see you are doing much better!
savantfx
Oct 07 2014 at 10:24
posts 101
I have sent you an email. You may ask me question on google hangout.
topastop
Oct 08 2014 at 06:23
posts 21
Jeff_fx posted:
What if the manager is recommended by the broker?

A client with profits is a good client for the broker so they probably are recommending a good manager, however, ask and analyze the trackrecord before.


But 10% monthly can be done somehow... hopefuly.

Hedge funds and banks. Basically, real and professional traders.


Well can you help me find someone? I'll appreciate it.
Looking at 8% monthly minimum, what you think? what might be the DD %?

I think that it is possible to find consistent traders with 8%/month and with a DD of ~30%

Jeff_fx posted:
@topastop

I see at your page https://www.myfxbook.com/members/topastop
That you are making about 10% and DD 20%
That's interesting.

But why you mentioned that professional traders aim at about 2% - 2.5% a month?
I see you are doing much better!

First of all I actually achieved a DD of 30%, I forgot to change that.

Second, the market has cicles where you can make money and where you can't (or it is harder to make). I have been trading on a good market but I don't know how things are going to get over time and until I have the opportunitty to trade on bad market times I don't know how my strategy will behave. This is why it is important to test the markets for atleast 2 years.

Third, I am trading on a micro-lots account. I have almost no psychological pressure while trading. Professional traders have huge porfolios with huge positions, they can't go as agressive a retail trader go.

I decided to perform a search on one of those social trading websites and on eToro I found a guy called 4exPirate that seems to have a good performence. Check him out.
topastop
Oct 08 2014 at 06:24
posts 21
Forgot to say, normally the DD of a hedge fund is about 15%.
Jeff_fx
Oct 08 2014 at 06:36
posts 20
Hi,

I hope you can advise me.

I am sure you are much more experienced than me.

I am considering FXMAC https://www.forexmanagedaccounts-fxmac.com/company to be my account managers.

The problem is that searching I found lots of conflicting info about them being a scam or not a scam and about their performance. One broker refered me to them and made them contact me, the broker is https://www.sensus-capital.com/en/



I wonder If I should trust both? Would their performance be as stated on their website?



Your kind help and advice would be highly appreciated.

Thank you.
savantfx
Oct 08 2014 at 07:11
posts 101
Hi jeff,

I think FXMAC should be a valid choice for a managed account. I know sensus capital and you have nothing to worry about as they are properly regulated. You could open an account with two or three brokers, that would be safer i believe.

Well, they shared a verified myfxbook/fxstat, it should be fine. You can verify their performance yourself by comparing the results of your account with their publicly shared trade history after a few days of trading.

Regards,
Savantfx
Mesbah (rahiths)
Oct 08 2014 at 12:53
posts 98
Roboforex offer debit/credit card to deposit and withdraw...you can withdraw from atm

be careful about scammers

best of luck😄
A trader can be an economist but an economist could never be a trader. They are too theoretical.
topastop
Oct 08 2014 at 16:00
posts 21
For some reason I can't open fxmac link but the broker seems trusted.

I will try again later.
Bob LLewellyn (ForexAssistant)
Oct 10 2014 at 20:01
posts 465
About robots and managers. Everything written here is all about technical trading. When someone tells you that robots always fail, ask yourself, 'How could they possibly know'? They can't... all they are doing is telling you their own limitations. I can show you a robot that never loses. Over 3000 trades (live account) no losses. Average around 1% a month. Another that is a semi no loss. (It closes several trades at the same time, some maybe for a loss but the total is always in profit.) 1.75% per month. And then there is Pegasus.

The difference is these are not technical trading systems, they are mathematical. So take all the (ahem) information given on this site with a grain of salt and remember, they are not you. Their systems failed but that doesn't mean you have to.

I can not take on any new students at this time but feel free to read through the info on our website and leave me your contact info and I will do you a favor. There is nothing to buy, www.forex-assistant.com is completely instructional.

You will come to understand that traders have the biggest egos in the world, we have to because we do what everyone else says can't be done. However, it also makes them say some really off the wall stuff like you should get an account manager if you don't want to lose money. Who has your best interest at heart? What could an account manager do for you that you can't do for yourself? Who cares most about you and your family?

My advice 'Learn before you earn' and read about systemic trading systems, I hate technical systems, to me they are just plain nuts.

Good luck kid...

Bob

where research touches lives.
Mesbah (rahiths)
Oct 11 2014 at 15:23
posts 98
well written ...They can't... all they are doing is telling you their own limitations.

You will come to understand that traders have the biggest egos in the world, we have to because we do what everyone else says can't be done.


but i will be happy if i see your live account here

ForexAssistant posted:
About robots and managers. Everything written here is all about technical trading. When someone tells you that robots always fail, ask yourself, 'How could they possibly know'? They can't... all they are doing is telling you their own limitations. I can show you a robot that never loses. Over 3000 trades (live account) no losses. Average around 1% a month. Another that is a semi no loss. (It closes several trades at the same time, some maybe for a loss but the total is always in profit.) 1.75% per month. And then there is Pegasus.

The difference is these are not technical trading systems, they are mathematical. So take all the (ahem) information given on this site with a grain of salt and remember, they are not you. Their systems failed but that doesn't mean you have to.

I can not take on any new students at this time but feel free to read through the info on our website and leave me your contact info and I will do you a favor. There is nothing to buy, www.forex-assistant.com is completely instructional.

You will come to understand that traders have the biggest egos in the world, we have to because we do what everyone else says can't be done. However, it also makes them say some really off the wall stuff like you should get an account manager if you don't want to lose money. Who has your best interest at heart? What could an account manager do for you that you can't do for yourself? Who cares most about you and your family?

My advice 'Learn before you earn' and read about systemic trading systems, I hate technical systems, to me they are just plain nuts.

Good luck kid...

Bob

A trader can be an economist but an economist could never be a trader. They are too theoretical.
Bob LLewellyn (ForexAssistant)
Oct 11 2014 at 16:46
posts 465
Sorry Rahiths, I have nothing that I am selling here so I don't have anything to prove but the real reason I don't show live accounts is because I am still living in the US and you have to be completely stupid to put anything personal on the internet here. Hint; no matter where you live, 'The government is not your friend', don't trust them.

Good luck.

Bob
where research touches lives.
Mesbah (rahiths)
Oct 11 2014 at 17:18
posts 98
i dont care what u r selling here...n im not asking you to share your personal pic..
A trader can be an economist but an economist could never be a trader. They are too theoretical.
Bob LLewellyn (ForexAssistant)
Oct 11 2014 at 21:20
posts 465
rahiths posted:
i dont care what u r selling here...n im not asking you to share your personal pic..

That you can have. But nothing financial. Beside that, systemic systems don't need proofs, if you have a calculator, you can see why they work. Lets say that you place a trade in the center between the highest that the price has reached to the lowest that it has gotten to. On the aud/nzd that would be 1600 pips up and 1600 down. If your trade size was .01 lots then every pip will cost or make you .10 aud. 1600 times .01 is $160 aud.

Therefore, if you have $200 in your account balance, no mater where the price goes within the historical limits, you can not have a margin call. You don't need me to demonstrate that on a live account verified by a qualified third party, You just need to do the math. That of course is overly simplistic but it suffices to explains the concept.

later,

Bob
where research touches lives.
oncong
Oct 12 2014 at 06:22
posts 5
Jeff_fx
Nov 02 2014 at 07:55
posts 20
Hi guys,

Just been too busy

I wonder why, I have noticed lots of systems / performance doing a great leap in the first few days then after that it gets flat or deteriorates...

I assume it is the same account manager or the same autotrader... what causes this? example https://www.myfxbook.com/members/ForexManagerDBA/9-vip-usd-im/882738

may be the account managers themselves can give us a feed back.
Hendra Lau
hlau
Nov 02 2014 at 10:54
posts 23
Jeff_fx posted:
Hi guys,

Just been too busy

I wonder why, I have noticed lots of systems / performance doing a great leap in the first few days then after that it gets flat or deteriorates...

I assume it is the same account manager or the same autotrader... what causes this? example https://www.myfxbook.com/members/ForexManagerDBA/9-vip-usd-im/882738

may be the account managers themselves can give us a feed back.

Because past performance is not indicative of future result. Unlike the boss in your workplace that gives you a fixed salary every month, the market is a very bad boss. Not only does he sometimes give you 0 salary, he even takes some or all of your hard earned salary from the bank.
Rihan
RSTrading
Nov 02 2014 at 14:37
posts 385
@Jeff_fx

Have you found what you were looking for?
Jeff_fx
Nov 02 2014 at 16:09
posts 20
hlau posted:
Because past performance is not indicative of future result. Unlike the boss in your workplace that gives you a fixed salary every month, the market is a very bad boss. Not only does he sometimes give you 0 salary, he even takes some or all of your hard earned salary from the bank.

Sure. Past performance does not necessarily indicate future results. But in statistics as a science, there should be some sort of consistency in performance at least relative consistency or similarity, there should be a trend line or a trend curve.
Jeff_fx
Nov 03 2014 at 07:42
posts 20
RSTrading posted:
@Jeff_fx

Have you found what you were looking for?

Which! I just started about a month ago... and found myself looking for lots of more things I never knew it was even there...
If you mean a broker I found one... just working on finalizing the account.
If you mean an account manager I found some, but still looking for more as I believe I should even 'diversify' account managers.

I hope this does not sound rude, but... this is what I am thinking.
Just started looking at scalping, just reading about it... who knows, may be it should go in the mix. I don't know for sure yet. Though I read in many forums 'scalping' is a bad word! Trying to find out why!
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