Professional4X's Posts - Page 11

a good trading strategy in New Traders Sep 25, 2019 at 22:37

No. Because if someone has a working system that is applicable to all market conditions, they aren't going to tell anyone about it. Or at least not the full details of it. But even if they DID tell everyone, do you think people would actually pay attention and listen? No of course not, because most people over complicate everything in trading and are always looking for "fast cash" and "the holy grail" and trading.Here.... How about this, I will tell you the EXACT SECRET that everyone overlooks when trading.This is 100% applicable across ALL market conditions.You want to...

I need help solving this programming Riddle (RSI). in Programming Sep 25, 2019 at 22:19

SHOW your code. It's a coding issue.

Successful trading in General Sep 25, 2019 at 10:17

I'm saying that if you had a stoploss of -30 pips, then the account would have been protected against a catastrophic -3000 pip spike, if your trade was in the wrong direction. The same could be said of your ticket was in the correct direction, if it spiked 3000 pips, it could be a big win.The point I was trying to make was that regardless of what the event was, it is ultimately the fault of the investor if the account is blown. Bad trades happen to everyone. But proper risk management will save an account from being blown out. This is why it's important to use a profitable strategy wit...

When to stop. in General Sep 25, 2019 at 09:33

You could also just as easily calculate out a reasonable TAKEPROFIT this way as well.ATR[D1] / 2 = TPThis formula provides you takeprofit of 1/2 the daily ATR.If your daily ATR = 100, then this would give you a TP of 50 pips, and an SL of 33 pips, using the previously discussed forumla.

When to stop. in General Sep 25, 2019 at 09:29

ATR[D1] / 3 = SLThis formula allows your SL to not exceed the daily ATR by 1/3, if you have to let your trade continue going bad, then you aren't minimizing your risk.As yourself this. Would you rather close out a ticket with a -30 pip stoploss or with a -300 pip stoploss?Anyone who allows a bad ticket to run -300 pips against the account or worse, simply isn't using realistic risk management. Letting a bad ticket run is a horrible idea. It's no Big DEAL if you closed out the ticket with -30 pips, don't just immediately create a new ticket, wait for the next high probability tr...

What are the actual Risks of managing a complete myfxbook strangers portfolio? in Experienced Traders Sep 24, 2019 at 11:09

It is only my opinion of course, but it is better to simply avoid managing others funds, as well as avoiding having others manage those funds for you.If a person is going to invest their funds, it is generally best for them to not rely on the skills of total strangers to do it for them.Learning to properly trade isn't that difficult. it really isn't.There are no "elite secrets" that must be paid for, in order to use them.The markets can only do one of three things.1) Currency pair moves up. (BUY)2) Currency pair isn't doing much of anything. (Don't do anything)3) Curr...

What are the actual Risks of managing a complete myfxbook strangers portfolio? in Experienced Traders Sep 24, 2019 at 11:01

Consider the legal risk that is associated for managing those possible clients funds. Do you have all of your licenses and regulatory certificates in place? Are you fully certified? Are you insured? Are you an independent representative for a broker? What guarantees are you offering in your contracts for asset protections? What is the legal ramification if you lose all of your client investment capital? I could go on for quite some time about the things you need to consider.Also is the question of "WHY" do you need to manage those funds in the first place? Are you looking to increase...

Successful trading in General Sep 23, 2019 at 22:41

When I talk of Money Management, as do many successful investors, it isn't just the money that is being talked about most of the time. It's really about a bigger topic of proper risk management.Proper risk management which money management is a vital portion of, would also include the use of a profitable strategy.Without a profitable strategy, then proper risk management isn't being used.It's either profitable or it isn't. If it isn't profitable and an investor continues to trade with it, knowing that it probably isn't going to just magically become profitable, then...

Oanda FIFO fixer in Programming Sep 23, 2019 at 04:29

The screenshot doesn't show you reduced a newer ticket while the older ticket was still open.You cannot reduce a NEW ticket before before closing the older tickets first. If a broker under current US Regulations allows a US customer to do this, then it's a violation of the current regulations, and Oanda abides by all regulations as required by law.You can set all the SL and TP to the same, but you CANNOT close or reduce a NEW ticket before closing out the older tickets first. ALSO... The image you posted is for EUROPE based accounts which is under different regulations that US brokers.

Oanda FIFO fixer in Programming Sep 22, 2019 at 09:47

The regulations are very clear.You CANNOT adjust a new order before the old order.THIS is a fact. And it's the regulatory rule.

web application in Programming Sep 19, 2019 at 07:35

You may also want to take a look at the available widgets.https://www.myfxbook.com/widgetsYou're welcome

web application in Programming Sep 19, 2019 at 07:34

Perhaps the page for the API would be helpful?https://www.myfxbook.com/apiYou're welcome

How to answer what do you do for a living? in Experienced Traders Sep 18, 2019 at 22:05

Just be honest about it.If you don't want to talk about it, then simply tell them you don't want to talk about it.

MyFx Calendar API or Guide in Programming Sep 18, 2019 at 22:01

MyFXBook APIhttps://www.myfxbook.com/apiMyFXBook widgetshttps://www.myfxbook.com/widgetsThese are the same links that are listed at the bottom of every page on MyFXBook.

Investing in Forex in General Sep 16, 2019 at 17:49

Even systems that work across all market conditions lose trades. They aren't the Mythical "Holy Grail", those simply do not exist, The closest you will get to a pure win only system, is by using latency arbitrage. And while that would work, your broker will quickly catch on, and they'll freeze your account. There are systems that do exist that will make profits across all market conditions. But, as I've said you simply won't find them being sold for $99,95 or whatever. Why WOULD they sell them? They'd have no need for anyone to give them money, they would be extre...

Investing in Forex in General Sep 16, 2019 at 17:18

They exist. But you aren't going to find people selling them for $99,95 or whatever absurd price people are willing to pay for a hyped up EA.Ask yourself a simple question, if you had an automated system that no one else has, that is constantly and consistently making you a solid profit across all market conditions, why would anyone sell it? They wouldn't. Why sell something worth BILLIONS of dollars possibly in profits. The answer is simple, NO, You wont find it on MyFXBook or any place else available to the general public, They exist in private collections, built by Quants and Develo...

Oanda FIFO fixer in Programming Sep 16, 2019 at 17:05

REST API V20 isn't the same thing is JAVA API.Regardless though of which API you are using, you CANNOT reduce NEW tickets, you have to use the FIFO rule which clearly states FIRST IN FIRST OUT, Older tickets must be closed before newer tickets can be modified.

Oanda FIFO fixer in Programming Sep 16, 2019 at 17:01

Oanda no longer supports Java api.It's on their website.https://www.myfxbook.com/files/Professional4X/java.png

Investing in Forex in General Sep 12, 2019 at 10:32

WRONG.Properly built automated systems work across ALL market conditions.

Investing in Forex in General Sep 12, 2019 at 10:32

Properly designed automated systems require minimal if any human interaction.

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Posts by Professional4X