ForexAssistant's Posts - Page 10

From losing for more than 1 yr to losing for more than 1 yr ? in Experienced Traders Sep 30, 2014 at 14:45

Everyone loses in the beginning. When you first tried to ride a bicycle, you fell then also but with intelligence and persistence, you succeed. There are ways to learn faster and pay less for your education. First use demo accounts to learn, that is why they exist. You need to learn the system first, once you do that your emotions will be in control because your confidence will be in the system, not put all on you. The second short cut is to get a trainer. They already made the mistakes that you are going to make, there are two ways to learn, either from their mistakes or from yours. He...

I dont believe any trader can make money in long run .Not 5% ,not even 1% . in Experienced Traders Sep 30, 2014 at 14:02

I don't get on this forum often, just check back every several months to see if there is anything new going on, there isn't. All the new threads are the same as the old ones. I have given proof that consistent profits can be made many times before but lets do it once again for old times sake.The first link was from 2008-2009 on IBFX (Broker no longer offers mt4 trading or mini accounts). That was during the meltdown when volatility, and therefore prices, were all over the place. Please ignore the high return rate, that was only because of the extreme volatility. The second link is...

Need VPS service in New Traders Sep 29, 2014 at 12:48

Omni is indeed generous but a free VPS isn't so hard to come by, some brokers offer free VPS to their traders. But there is a difference between cheep and good. You can get a VPS for $9.95 a month but get them to keep it from crashing? well that's another subject. I finally found one that I have been happy with for several years now, with the undignified name of "Kick Ass VPS" (kickassVps.com). Bunch of computer geeks that don't understand business I expect. Great service for $29.95 - dumbest name of the lot.BobPS. It turns out that my wife had set up a referral link...

Why 90% of retail traders fail... in New Traders Aug 29, 2014 at 16:30

"I really like this feeling that I have helped some people to bring wealth."I know what you mean. It is a knee jerk reaction to scoff and say BS, because to many people , that statement has no meaning. But when you can help someone understand something, you have brought a little more intelligence into the world and we begin to actually change the world one student at a time. And when you do, you get so much more back than you ever gave. I don't help traders as there is plenty of that to go around. I want to help the guy working his ass off just to get by and has no idea how...

is hedging in the U.S. illegal in Experienced Traders Aug 29, 2014 at 16:01

A true hedge is one within the same asset class and in fact the same asset. Let's say I took a sell for the eur/usd earlier this month for one lot when the price was above 1.3600. The price has dropped to 1.3145. Now I think it looks like a recovery is coming up and the price will go back up for some amount before it turn lower again. I don't want to close my profitable trade as it is pretty safe now so instead I open a counter trade, a buy for one lot of the eur/usd. Now my profits are frozen in place as the price continues to go up. But at some point, it returns to its downward...

Money management using margin level?? in New Traders Aug 21, 2014 at 09:09

Yes, that is what I was saying, " margin actually does not limit your trading. However of course you are limited by equity,SL,TP, etc..." Everyone confuses the margin leverage 200:1 as the trade leverage like they do in stocks and what not. The term is miss leading and should be changed, but I don't have a better name for it at the moment. Bob

Any low risk strategies with good returns? in Experienced Traders Aug 20, 2014 at 16:47

Low risk is subjective. My requirements for safe seem to be a bit more stringent than most. However, I can recommend that you take a look at Pegasus. http://forex-assistant.com/products/pegasus/ that's what I use and I develop systems, (or used to).Outside the US, 3 to 4% is normal but you can cut that in half if you're still in the States.Good luck.Bob

Money management using margin level?? in New Traders Aug 20, 2014 at 16:08

In a nut shell, using margin to set your money management is one of the worst ways to do it because margin and the marginal leverage is just bankers and their governments protecting themselves and the brokers. Marginal leverage has nothing to do with actual trading. The leverage that does have to do with trading is 100,000 to 1. One lot equals 100,000 units or 10,000 on a mini account, you have only those two choices, the other leverage is just how much do you want to protect your broker from you losing more than is in your account. 200 to 500 to one is good enough. Over that you are ris...

Overnight Interest in New Traders Jul 25, 2014 at 14:41

For jotekfinance;What the others are saying is that the swap or interest rate causes the price to move. If interest rates are high, then people want to buy that currency to get in on the higher interest. But buying a currency drives the price up for that currency just as it does everything else. So the best way to play the swap right now is to look at all the currency pairs from 2001 till present. Average the historical highs and historical lows for each pair to find the center of the historical trading. Get a currency that is far from center and buy or sell towards the center. Close out...

Overnight Interest in New Traders Jul 24, 2014 at 16:49

For jotekfinance;I couldn't say, it has been years since I used the carry trade in any way. Right now all the countries and their central banks are trying to keep the economy going so they are pushing their interest rates so low it doesn't make sense to try to make money with the carry or government bonds. However, if you are outside the US there is an ultra safe robot that makes around 10 to 14% a year. This is the one that took 3000 trades during the melt down of 2008 with no losses. Its free to try out on a demo account for as long as you like but it will not work on any US brok...

Overnight Interest in New Traders Jul 23, 2014 at 19:39

For WallySangster;Its actually three times the norm because it compensates for Saturday and Sunday when the markets are closed, (technically) but even if you do not have an open trade on the weekend, they charge you or pay you by what you have open on Wednesday. Isn't that fun? It's a carry over from when the forex was part of the commodities market. They have a two day clearing so trades open at close on Wednesday would not clear the system for 48 hours, when the market was closed. Not real clear on why though. Bob

The best system I've ever seen! in Experienced Traders Jul 07, 2014 at 16:21

Actually B1FXprof, self promotion is the only thing that makes any sense. There would be no motivation to promote or even discuss someone else's methods, so there would never be any progress to discuss and the newbies would have nothing to learn. The forum is by its nature a hostile environment. We have had a number of good traders leave the forum because they didn't have anything to promote and the level of attacks was not worth the emotional cost. People who attack others for self promoting is hurting the forum and in my mind, the concept doesn't even make any sense, but the...

Brokers for US Residents in Experienced Traders Jul 03, 2014 at 19:06

Every couple of years a new group collects a list of Brokers that will accept US citizens. We open an account with them then get booted to the curb when the sabers start rattling. I have been forced to close 5 accounts this way. Someone please stop this merry-go-round and let me off. The best way to not have to deal with the U.S. BS is to move out. And that is exactly what I am in the process of doing. This take over of the world governments has started a long time ago and there isn't squat that we can do about it. Be smart and keep your head down. Forget trying to do business in the...

Traders Give Birth to a New Idea, premier announcement in New Traders Jun 25, 2014 at 14:45

Noticing that as others post to other threads, this one gets pushed down and sooner or later will get pushed off the first page. This will happen eventually but we made the announcement here where the idea began as we intended to do. Now however the idea has to grow in its own environment (not everyone in the world is a trader) and really this subject is a little out of place on a traders' forum as it only loosely applies to trading. Therefore, if there are any final questions or comments about our new project, please post them soon. Thanks Bob

Traders Give Birth to a New Idea, premier announcement in New Traders Jun 23, 2014 at 19:16

from Silverthorn, "very rare and becoming even rarer that I am not able to communicate with people in other countries using good old English."I also travel a bit and I have also had those good experiences but I have also been just outside Mexico City when my toddler son developed a 104 degree fever. (40 degree Celsius). Couldn't ask for help. You talk about helpless. Everything eventually worked out once we got back to the city but it was touch and go for a while. Here is another side of the coin that IronMan told me about that I didn't know, it seems that some French r...

Traders Give Birth to a New Idea, premier announcement in New Traders Jun 21, 2014 at 00:02

Zoom, et al.The blog is now up on CommonLanguageAppeal.org and Mary copied the post from here but I forgot to ask Zoom if we could post his name. Zoom please send me a PM advising on what name to use. Right now it just Z. Anyway, we are going to send out the first press release pretty quick now so wish us luck.Bob

Is forex gambling? in Experienced Traders Jun 20, 2014 at 21:22

Howdy Silverthorn, still riding the herd I see. Those young ones, just got to get rowdy once in a while. I think I'll forgive him, he'll beat himself enough for his actions later on, when he's old enough. Usually works out that way. The new website for CommonLanguageAppeal.com is up, making an announcement over in the "Traders give birth to new idea"page, http://www.myfxbook.com/community/new-traders/traders-give-birth-new-idea/755228,4 For anyone who doesn't already know, I've started a new project and need some help if any of you can afford a moment please s...

Is forex gambling? in Experienced Traders Jun 20, 2014 at 14:21

My wife managed a mid sized store where new cashiers thought they new something and a small group called off sick so they could go to the lake. One of them posted info on face book that showed them at the lake instead of being at work or sick at home. So now they are unemployed. A friendly word of warning, there are a number of young and not too well educated newbies that want to make a name for themselves so they can feel like they are important or something so they get on here and talk trash about only showing demo accounts. Especially if you live in the US but other countries also will r...

Is forex gambling? in Experienced Traders Jun 20, 2014 at 02:14

No, I do it for the money. Of course "I" don't really trade anymore, that's the computers job. I fish, ride horses and do my research. So I enjoy what I do and let the computer handle the dirty work but, I do it for the money.Bob

Traders Give Birth to a New Idea, premier announcement in New Traders Jun 18, 2014 at 15:57

Thank you jotekfinance, I checked it at 10am New York time and it was back up but the web people may need to know that.Bob

EURUSD	1.05423	GBPUSD	1.27436	AUDUSD	0.62152
USDJPY	148.735	USDCAD	1.45282	USDCHF	0.88973

Posts by ForexAssistant