B1FXprof's Posts | Myfxbook

Any of the old guard still around? in General Apr 21, 2023 at 09:51

Hi SteveYep. Here again too. Had a quiet couple of years to redouble and reinforce the architecture. back with a bang since last summer firing on all platforms now. This year's been an absolute belter so far, had loads of great trades. We're fully open for business again now. Feel free (anyone) to tap me up for performance evidence/statements etc. Happy to run through what we do.

How to earn more? Real advice from experienced traders. in Experienced Traders Apr 20, 2023 at 20:06

@Rococo_XVII no sorry, I mean....brokers flag accounts as in they notice how the system is trading them and change their performance. Usually by increased slippage settings or, if they're kinder, just giving off quotes or market already moved responses to orders. Bear in mind mine is all news trading. once a broker is unhappy with my system it's easy for them to push the account to a certain bucket. I've seen it over hundreds of accounts over the last ten years. I could go into more detail but that's the short version. The system never crashes. It's not that kind of beast.

How to earn more? Real advice from experienced traders. in Experienced Traders Apr 17, 2023 at 20:41

Sounds great. What Max DD have you had?

How to earn more? Real advice from experienced traders. in Experienced Traders Apr 14, 2023 at 15:18

@Rococo_XVII yes. if i changed it to being less successful that would do it

I'm new to Forex trading and looking for some advice in New Traders Apr 10, 2023 at 22:14

Sure. Roughly 98% of retail traders lose ALL of their funds within a couple of months. There are many reasons for this. In a nutshell the retail FX market is setup to clean you out. From online teaching resources to everything broker related (account managers through to metatrader server tools). Most ppl you'll read on here are still trying to figure it out. I would say good luck but honestly you need a lot more than luck.

How to earn more? Real advice from experienced traders. in Experienced Traders Apr 10, 2023 at 14:24

@Rococo_XVII I change regularly, generally once I can see accounts have been flagged. I have access to current performance data on hundreds of brokers with multiple accounts at each. MT4/MT5 and cTrader (fix API)

How to earn more? Real advice from experienced traders. in Experienced Traders Mar 29, 2023 at 12:59

Hi @Rococo_XVII Yes always news. The system I use was entirely developed around the fact that news releases are a measurable event with known timing and historical data to work off.it's a failure model....so over the years there's had to be some emergencies in order to be able to build in resilience against what was previously unknown. the outcome is a LOT (excuse the pun) of built in risk management. Keeps drawdown very low and RR high.brokers are an ongoing issue which takes a lot of time and effort. they're not there to pay out as you no doubt realise.

How to earn more? Real advice from experienced traders. in Experienced Traders Mar 24, 2023 at 09:37

@Rococo_XVII I've been trading profitably for about 12 years now. I'm a news trader. early days were spent experimenting with things to reduce latency with mt4 orders like straddle trades otherwise you get slipped on the spike. then realised that a great number of brokers wouldn't allow straddle trades to be open like that before a news release (or at all in some cases). Spent a lot of time finding a source of news data fast enough to make it worth doing. Quickly realised that a lot of brokers' mt4 servers are setup to slip hard. built in lots of resilience to kill orders fast...

WHO trades forex for more than 10 years and keeps making regular profits in Experienced Traders Mar 06, 2023 at 12:38

Interested in this too. Happy to discuss how I've worked over the years. Low DD good ROI.

WHO trades forex for more than 10 years and keeps making regular profits in Experienced Traders Jan 16, 2023 at 17:06

Still trading after 12 years. Same system, always improving. Bounced back stronger after a hiatus to regroup and improve during the pandemic years. Better than ever now.

Newstrading in Experienced Traders Jan 16, 2023 at 16:41

to revive this....it IS possible to news trade but as pointed out it takes knowledge, good analysis to understand how different pairs react to each calendar item, even better knowledge of how to set up your system for each trade including use of trailing stops, TP etc. On top of the fundamental elements you then have the very real issue that the brokers you're using have better technology than 99.9% of retail traders at home. Their servers are setup to respond to the news in the same way that you should be (if you have the above nailed on).....but then you need to be able to submit an orde...

What is The most Accurate strategy and Indicators ? in Experienced Traders Jan 16, 2023 at 16:00

Agree with the above. 'reliable' strategies tends to mean technical and expensive ie arb trading news releases - costs 5 figures a month for fastest news/data feeds plus you'll need to have an edge re coding your system to be triggered with 0ms RTT with your brokers etc basically out of reach for 99.9% of retail traders. Algo trading...how's your quantitative analysis and coupled coding? again out of reach for 99.9% of traders. Pretty much everything else is so massively risk-loaded that they can't be classed as reliable. you might get lucky and find a broker that will let ...

Forex is profitable ? in General Mar 11, 2019 at 10:55

Definitely is profitable. Check my history. Not been on this site much last couple of years, still going strong though

I Really Need a Mentor That is Making Money in Experienced Traders Aug 07, 2018 at 12:34

agreed on both comments here too. Either you're going to have to work your ass off learning (which it sounds like is a dead end now) or get some great software and understand how to use it....third option is to pay commission for a well established service. These are generally hard to get onboard with for the very reason that they're successful (brokers obviously don't like it so the service providers tend to remain inconspicuous). there are a few I can think of, they are invite only and charge high commission rates (50-60%) , that's the price of someone else's success.

Pepperstone in Brokers Oct 22, 2014 at 13:48

I've seen ICM and CLM do the same recently - avoid also

I want only a safe 4% each month... Which EA?? Thank you in Experienced Traders Oct 08, 2014 at 16:02

Rahiths.....I don't mean to be a troll on this, but I don't think I understand your account - you have a 63% Gain with a 67% drawdown....??

I want only a safe 4% each month... Which EA?? Thank you in Experienced Traders Oct 08, 2014 at 16:00

Hi AlexThe broker I'm referring to there is IronFX - they advertise STP services but have admitted in writing that they actually take the orders in-house themselves - I did complain to both FCA and FOS and the funds were returned to the account in question.Thinkforex are ASIC regulated if I recall correctly. The price being off the chart is definitely cause for complaint.You should follow it up for sure.

I want only a safe 4% each month... Which EA?? Thank you in Experienced Traders Oct 08, 2014 at 15:53

Hi Alex. AS you know there's no such thing as an account with no drawdown but I have more than two years history of way more than 4% a month return. I only show a small number of accounts on here but you're welcome to contact me directly to get MT4 statements/investor pwds to see more.:)

I want only a safe 4% each month... Which EA?? Thank you in Experienced Traders Oct 06, 2014 at 12:38

Indeed Alex, the fills at news time are precisely what defines a broker for me. They can blow the spreads really wide, fill at fictional prices beyond the 1 min spike etc You need a genuine STP broker - that's another tricky thing to do - find one which says it is STP and actually IS STP - I've had brokers filling very quickly and at good prices only to have them cancel all my profits months later because it turned out they were taking the other side of the order all along....despite selling the service as DMA/STP!

I want only a safe 4% each month... Which EA?? Thank you in Experienced Traders Oct 02, 2014 at 14:25

Entries sure, but exits, manual, has to be on price action.

All Quotes
AUDUSD	0.64989	USDCHF	0.91373
EURJPY	166.088	EURCHF	0.97725
EURGBP	0.85883	GBPJPY	193.37
EURUSD	1.06948	GBPUSD	1.24519
USDJPY	155.291	USDCAD	1.37008

EURUSD	1.06948	GBPUSD	1.24519
USDJPY	155.291	USDCAD	1.37008

Posts by B1FXprof