ForexAssistant's Posts - Page 9

any fulltime forex trader here ??? in Experienced Traders Nov 29, 2014 at 16:04

"don't come with wisdom"Here is one more piece of wisdom as remembered in the great writings of old,"Tis better to be thought a fool, than to open your mouth and remove all doubts".(Father Goose, 1899)

any fulltime forex trader here ??? in Experienced Traders Nov 28, 2014 at 20:01

" I do know one thing Bob that you're not making a living from trading, you're easy to see through."I know, embarrassing isn't it? How the hell am I supposed to make a living conniving unsuspecting traders out of their hard earn cash when even the young pups can see right through me. But I forgive you son, how could you know how bitter the bite of your words tear right through me. The anguish in my soul over being rejected by a total stranger who never gave me a chance. I know that you lack faith my son and it is up to me to give you that faith, and courage to see thr...

What's the best way to trade Martingale Forex Trading in Experienced Traders Nov 28, 2014 at 18:57

""example last mont US retails data times EURO/USD suddenly jumbs more than 230 pips"Yes, I know, I made good money off of that move. I will say this again as it seems to be important. "A recovery system will make good traders better but not make a bad trading system somehow miraculously good. If you can't figure out how to get in the right direction over a 230 pip change, don't blame the recovery system, that's the trading systems fault. Even automated systems have pause buttons. (Actually a set of criteria that pauses the trading until released.) But d...

New Forex wannabe in New Traders Nov 27, 2014 at 15:51

When trading, there is a lot to be aware of and a lot to do with each trade. The more that you can automate, the less confusion you will have and the easier it is to do actual trading. I have gotten to the point where my trading emotion is boredom. Almost everything is automated. But the trade off is that my robots only make .75 percent per month on one and 1.75% per month on the other. My third one should make around 3 percent a month when its ready. Success comes in small packages. If you can be patient, you can be a successful trader.My advice, pay for training, its cheaper than payi...

What's the best way to trade Martingale Forex Trading in Experienced Traders Nov 27, 2014 at 15:28

Vontogr, losing $50,000 is no big thing if you are trading 5 million. Your stated trade sizes are huge to start with. Using the Fibonacci series from above lets work out what 10 iterations would be.If we lost ten times in a row, first, that isn't a problem with the recovery system, it is a problem with your trading system, however, if our ranges were 20 pips, trading .01 lots would generate a change of 10 cents per pip or 2 dollars per range. Since 10 iterations would cost 232 times the $2.00 per range we would end up with a loss of $464.00 The slow recovery would kick in and we woul...

any fulltime forex trader here ??? in Experienced Traders Nov 27, 2014 at 14:06

"So does that mean everyone is trading for a living yet not one single person can show proof for several years? "Rowdy my friend, Anyone who shows you their income trail is a damn fool. I wouldn't do it and no one should put any income that they make, on the internet for all to see. You're just asking for frivolous laws suits, government tax collectors and every neer-do-well on the prowl to put your money in their sites. You're ridiculing people for being intelligent. Anyone who shows any real account is only trying to prove something to themselves, not the ones you...

any fulltime forex trader here ??? in Experienced Traders Nov 27, 2014 at 02:17

I live for trading, is that the same thing? 😀Bob

What's the best way to trade Martingale Forex Trading in Experienced Traders Nov 27, 2014 at 02:03

Vontogr, why do you say that? You use stop-losses in technical trading why would you not use some limit on a recovery system. I use a Fibonacci sequence as apposed to a martingale series because I get 2 more iterations for less draw.Martingale = 1, 2, 4, 8, 16, 32, 64, 128, gives a total draw for 8 iterations = 255 times the size of the first trade. Fibonacci = 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, total draw for 10 iterations = 232 times first trade.I use 10 iterations as my limit, after that I use a slow recovery to compensate for the infrequent times that the primary recovery system fails. ...

What's the best way to trade Martingale Forex Trading in Experienced Traders Nov 25, 2014 at 15:53

While I certainly respect Vontogr, I have to disagree on these grounds. A trading system has 3 properties, 1) it will determine whether to buy or sell, does a Martingale do that? 2) it determines when to get in and when to get out of a trade, does a martingale do that? 3) A trading system will determine how large the first trade should be, martingales tell you how many times to multiply the first trade's size but not the actual size of the first trade.The only logical conclusion is that the martingale is not a trading system. Then what is it? It's a recovery system. A recovery syst...

What's the best way to trade Martingale Forex Trading in Experienced Traders Nov 25, 2014 at 14:51

Best way to trade the forex market is "to not trade it" avoid it and you will be a sure winner! Makes about as much sense, doesn't it?Bob

What's the best way to trade Martingale Forex Trading in Experienced Traders Nov 16, 2014 at 19:45

I've never seen an absolute that held true for very long. All you need is one recovery program to work and all the deeply held truths that "Martingales will eventually blow up your account" are seen for what they truly are, fear of the unknown. Do you think any trading system works right from the first? No, that's not how it's done. First we get something that seems like it will work then work with it for years.The problem with the young traders is that they haven't had enough time on the job to know what works, so nothing does. If you can go away and come back i...

Forex Mentor.... in Experienced Traders Nov 03, 2014 at 23:26

Maybe - check your mail.Bob

New Forex wannabe in New Traders Nov 03, 2014 at 16:03

To really be able to discuss trading systems we need to get rid of some bad thinking that has crept into our lives. First, the reason they make demos is so you can have a good look at the system without revealing your financial situation to the government or anyone looking to sue someone. There is no difference in the way demos work and the way a real account works. Put those wonder systems on a demo account and let people see the trades and history. Without that, all graphs and claims are useless and all the squabbling is like a bunch of kids arguing in the school yard, 'my daddy is ...

What's the best way to trade Martingale Forex Trading in Experienced Traders Nov 01, 2014 at 23:13

A martingale system isn't a trading system, it is a recovery system. If your trading system was 100% right, you would not need any recovery system so a martingale recovery is good only if your trading system is correct more than 50% of the time. There is also a slow recovery system which doubles the value of the trades until the lost amount is fully recovered.It is far better to use the two together so you can limit the martingale in size and use the slow recovery to recover from a martingale failure. However, the martingale still grows too fast and you can reduce the amount of increas...

additional analysis tool in Suggestion Box Oct 14, 2014 at 17:32

It would be really helpful if we could look at only a segment of our account instead of all history. For example, if I make a change to my system, I would like to know the effect without the other data from earlier research getting in the way. A segment option confined by date/time would be wonderful.Good system you got here. Thanks.Bob

I love my wife more when I lost money in trading ! in Experienced Traders Oct 14, 2014 at 16:43

No, disagree. Been married for 34 years and trading for 7 and one has no effect on the other. She is only worried about my mental stability, not how much money I make. (the Mental stability thing was just humor) Good insight there CrazyTrader. Now there's someone that has been around awhile.Bob

New trader having some pips in New Traders Oct 14, 2014 at 16:26

No, that's not true. There are a number of good robots that allow for user intervention that can not be back-tested. In addition to that, back-tests tend to be unreliable in long runs because there is always missing data that you need to work from. It is much better to use forward testing on a demo account. Another thing that new traders like to say but doesn't make much sense is that you shouldn't use demo accounts to learn because you don't have enough emotion when trading a demo. That is just nuts. If you have emotion when trading a real account you have probably not ...

New Forex wannabe in New Traders Oct 11, 2014 at 21:20

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...

New Forex wannabe in New Traders Oct 11, 2014 at 16:46

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

New Forex wannabe in New Traders Oct 10, 2014 at 20:01

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 te...

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