JacoAF's Posts - Page 4

DEMO ACCOUNT vs LIVE ACCOUNT in New Traders Dec 31, 2015 at 09:28

No problem... Shout if you have any other questions. I'm no pro trader, but I paid my school fee's when it comes trading, and may be able to give you some advice... :)

DEMO ACCOUNT vs LIVE ACCOUNT in New Traders Dec 31, 2015 at 09:00

Hi Antonis, nope, you are under no obligation to first open a demo account and then later go onto a live account. However, and this is a big one, if you are completely new to trading, and you go directly to a live account, I can almost guarantee you with 100% certainty, that you will blow that account within the first week or two. And I think most experienced traders will agree to this in some form.The problem is this, when you are completely new, you probably have not yet learned the basics of trading. By this I mean that you have not yet learned and tested things like reading and interpretin...

DEMO ACCOUNT vs LIVE ACCOUNT in New Traders Dec 16, 2015 at 07:31

I feel there are two major differences between trading a Demo Account vs. trading a Live Account. And in my opinion it does not matter if you trade manually or with an EA, these factors still affect the way you trade:Firstly...With a Demo Account you trade with "pretend money" and therefore you will take greater risks, i.e. large Stop Loss, or none at all and large Lot Sizes, etc. This "risk-it-all" attitude will have no impact on a trader's emotions, as the money is not real. So you will have no FEAR of losing a trade or giving back profits by not using stop losses or ...

DEMO ACCOUNT vs LIVE ACCOUNT in New Traders Dec 05, 2015 at 22:58

This is one of the more intelligent questions I've seen on here for a long time... It depends on the legislation of the country you live in. I'm from South Africa, and here it is illegal to get money from people to trade with, UNLESS you are registered as a Bank, and that's extremely hard to do in our country. We had a case where a person (not going to mention names, 'cause I don't want to get involved) took money (approximately 24 Million dollars) from hundreds of people with the intentions of trading and giving them a return of 60% per year. This turned our to be the bigg...

The reason that new traders fail that doesn't involve psychology in New Traders Oct 26, 2015 at 12:03

I agree 100%, Fundamentals is NOT the only way to trade... Technical Analysis, Chart Patterns and Price Action can also be used. Ideally you would want to combine them all together to give yourself the best chance of getting in on a good trade with market follow-through that will generate a descent profit.I personally think if you understand how Price Action works and you understand the fundamental drivers behind market participants, you stand the best chance of making good profits. Where most traders fail, is not with using Fundamentals, Technicals or Price Action. I think it has more to do w...

Forex Contest FX Primus in Kontes Sep 29, 2015 at 09:08

Hey Kobus, hoe gaan dit. Die server naam is "FXPRIMUS-Practice".En jy moet die geldeeneid pare gebruik wat 'n "-" agterna het, soos bv, "EURUSD-" en "GBPUSD-".Hoop als gaan nog goed met jou.CheersJaco

Forex Contest GDMFX August 2015 in Kontes Sep 21, 2015 at 13:03

Hi, thank you for your response, but I was referring to the last two trades in my MT4 trade history (MT4 statement attached) not being included in the history on MyFXBook. It's not really a big issue, but it would have made the difference in me finishing 10th instead of 11th. Not a problem. And, thank you again for your prompt, professional response, even when the contest is already over. You guys continue to impress!Best regardsJaco

Forex Contest FX Primus in Kontes Sep 20, 2015 at 15:07

It's possible, but I doubt it will play out during this contest.... it's a daily chart and it will take more than 30 days to get into that trade.... rather focus on shorter time frames like 30 min to 4 hours.... :)

Forex Contest FX Primus in Kontes Sep 20, 2015 at 15:02

Server = FXPRIMUS-Practice

Forex Contest GDMFX August 2015 in Kontes Sep 19, 2015 at 10:26

To MyFXBook and GDMFX,Thank you guys for a great contest. I was very impressed how GDMFX handled this contest. You guys were very active in sorting out problems very quickly, and generally very helpful to all the contestants. Although I do have already have a broker I have been using for many years, I would gladly recommend your company and services to anyone in the market for a new broker.Just a last request, the MyFXBook results seem to be outdated, and has not yet included the last two trades in my trade history. Will the final results still be updated, or do I have to do something to have ...

Forex Contest FX Primus in Kontes Sep 16, 2015 at 14:11

Hi Marc, yes I'm from SA (Mossel Bay) :)

Forex Contest GDMFX August 2015 in Kontes Aug 20, 2015 at 12:32

Same here, I have $20 000 deposit. Admin please fix so I can start trading.... and not get accused of cheating :)

Forex Contest Squared Financial June 2015 in Kontes Jul 02, 2015 at 06:42

I am inclined to agree Emmileo. I will go out on a limb and say that ANYONE who is an experienced trader will never trade 100 lots, no matter the size of the account, on a live leveraged account like these (1:100). Maybe a trader on the floor of a Hedge Fund would trade 100 lots, but they don't trade with leveraged accounts (0:0). The risk of a sudden big move will eat anyone up emotionally... even with carefully calculated stops, you will always worry that you will take a big knock if the market suddenly hits that stop.I think the only place you will ever see such risky trades are in thes...

EUR/USD in Experienced Traders Jun 29, 2015 at 18:37

I'm really puzzled by the move in the EUR/USD today... I can understand the market trying to close the gap, but the whole day the pair has been climbing slowly. I'm no expert, but I kind of agree with Inari, it smells of the ECB silently intervening all day long in anticipation of the market reaction to Greece's default on it's IMF payment tomorrow...Maybe you guys and gals have some better insight than me to what's going on...

Forex Contest Squared Financial June 2015 in Kontes Jun 15, 2015 at 13:39

Hi.... it's possible that the server you are trying to connect to is not the correct server. Check in your e-mail account for the "Myfxbook Contest Registration" e-mail. In the e-mail you should see your login details for the contest as well as the server name, which should be "SquaredMT4-Demo".Compare these details to the details displayed when you click on "File > Login to Trade Account" from the MT4 menu.Also, in the "Tools > Options" menu, under the "Server" tap, make sure your login details are correct, and that the serve...

Mt4-6555501 in Trading Systems Jun 08, 2015 at 09:28

Hi Blue Marlin, thought I'd let you know that I decided to get the account verified...

Mt4-6555501 in Trading Systems Jun 06, 2015 at 14:48

Not yet, use it mainly as a tool to demonstrate trade setups to my students. I have a small FX training business - got started because of nagging from other people, and is not my primary form of income (I program windows apps & database systems for a living), and my trading is more of a "future retirement fund".It's always a pain in the butt to have a demo account verified, but if you really want me to I can do it. Just don't see the point in it, because I don't sell anything and I'm not trying to impress anyone. Like I said, I use it to show my students (and ...

Forex Contest Squared Financial June 2015 in Kontes Jun 05, 2015 at 08:34

----------------------------------------------------------->>>>>Don't get it???Let me explain something to you sir! I have been with FXPro for more than 5 years now, and I'm very happy with them. Been trading on the same live account for more than three years now - seem to work for me. I train people in FX locally and abroad - some of my students are in this contest.Now, SF can take their crap rules, and like FXChoice before them, can shove it! I enter these contests (and my students) to have fun, and test our trading strategies and methods. I have no...

Forex Contest Squared Financial June 2015 in Kontes Jun 04, 2015 at 15:22

Thank you for clarifying this whatever your name may be.... Well guys and gals, good luck trading in this joke of a "demo contest" if you choose to, I'm done... going to sit this one out... got a feeling we are having another "FXChoice" type scenario here. Lets see how many of the contestants actually take part in this one. Maybe SF can beat the record of FXChoice of around 20%...Cheers!

Forex Contest Squared Financial June 2015 in Kontes Jun 04, 2015 at 11:43

Really MyFXBook??? On day 1 we already have discrepancies (possibly cheaters), and then here comes another broker with a bunch of fine-print bull***t rules about having to be a "pro trader" in order to take part in this demo contest.To the broker (That's you Squared Financial!) - if you people think that a pro trader that meets your "requirements" will waste his/her time with these bulls***t requirements of yours on a demo contest with a $3000 first prize pool, then you should rather close your business - cause it will not last if you intend to disregard retail traders,...

EURUSD	1.17409	GBPUSD	1.34783	AUDUSD	0.65945
USDJPY	147.437	USDCAD	1.39438	USDCHF	0.7952

Posts by JacoAF