TheCyclist's Posts

How much have you lost in forex trading? in General Sep 20, 2014 at 12:10

Luck is not much of a trading strategy. I've developed good strategies, so the money is not an issue, I'll make it back and a gazillion more. But I do hope people reading this realise what it really takes to make it in not only fx, but trading in general. Years and years of failure and extreme costs in terms of time and money. I've gone as far as to put myself on coding courses to learn how to code to do this. You're not going to buy a $50 EA and make money or follow someone else whose most likely got half a clue and make oodles of money.

How much have you lost in forex trading? in General Sep 19, 2014 at 07:35

But I suppose I should also mention I took $10k to $250k in 6 months on equities once, trading warrants...

How much have you lost in forex trading? in General Sep 19, 2014 at 06:20

$50 000 is the short answer. That includes 18 months development costs at Oanda for $600 a month for 18 months and 10 years of server rentals. And a few false starts. The money is actually the lesser aspect of it. It's the time it took that was/is the biggest cost. So big in fact that I might never fully recover it. The only way I can ever recoup it, is if I can take the rest of my life off and never have to worry about money again. And that's unlikely to happen.

BlueMonkey Real Money Live Test == Ended Oct 2014 in Trading Systems Sep 18, 2014 at 17:05

All seeing our arses on martingale then ? Again...Have to follow the sock rule for his lot. You puts your moneys in the machine from your pocket, what you win you put in your sock. When the pocket is empty you go home with whatever is in your sock.

BlueMonkey Real Money Live Test == Ended Oct 2014 in Trading Systems Sep 11, 2014 at 21:53

Good luck with that, good result so far, but not my cup of tea.

BlueMonkey Real Money Live Test == Ended Oct 2014 in Trading Systems Sep 11, 2014 at 21:44

The only other broker I could find that offers anywhere near those trade sizes was Instaforex, and I wouldn't touch them with a barge pole. The reviews are so bad...

BlueMonkey Real Money Live Test == Ended Oct 2014 in Trading Systems Sep 11, 2014 at 21:40

Where, there's no one doing those trade sizes. It's was IBFX or Oanda. That's that. As for the trade sizes, it's the ratio. On that amount of money only take one or two more steps this account is gone. I mean it's not a lot of money, heck I'll take a chance. If you make 6 monnths you're a gazillionare, but the big markets are coming, not always going to be quiet like this...

BlueMonkey Real Money Live Test == Ended Oct 2014 in Trading Systems Sep 11, 2014 at 21:31

The results are great, but it looks super risky, the trade size range for just today was from 0.01 lots to 0.99 lots. Yikes !What are you going to do in 2 weeks when IBFX is no more ?

Johnpaul77 in General Sep 11, 2014 at 21:16

Wasn't a scam. They did well for a lot of people for many years. But the volatility went to 7 year lows, it's been nearly impossible to make money lately, EurUsd is having 50 pip ranges for days at a time. Easy mistake to make if you have 10 or 20 thousand clients screaming for trades. Go too heavy, first volatility that comes along - WHAM...! And there you are contemplating your belly button wondering where the hell your life went. Going to be a long road back for them. And clearly they got properly ***** by their broker just to add to their troubles. The one thing I am getting from ...

Johnpaul77 in General Sep 11, 2014 at 20:10

Did you guys work out what they were earning ? I did, was over $40 000 a month between the four of them, excluding their own trading income.

What is your Hobby ? in New Traders Sep 08, 2014 at 16:23

Forex

Anybody from SA? in General Sep 08, 2014 at 16:23

Cape Town, now living in Thailand...

Need Code to positive jump in Programming Aug 28, 2014 at 19:53

http://forex-strategies-revealed.com/mt4/trailing-stop-easE-trailing is what you're looking for, it's the first one. Just run it on a separate chart as a separate EA...

Do MetaQoutes fake the historical data ? in Programming Aug 23, 2014 at 18:57

MT will give a different result on the same data depending if you're online or offline. It will give a different result on a different machine which uses a different processor. It does make up data if it doesn't have any. And it goes almost without saying it will give a different result on different brokers. I've never been able to match a days trading to a back test for the same period. So the MT back testing you can throw in the dustbin. Don't waste your time. It's got little use other than to see if the code more or less works. Depending your skill level you'd be muc...

How charge spread can be profitable for Brokers? in General Jul 27, 2014 at 00:55

As for slippage, execution speed...We're not HFT traders and certainly can't be on retail platforms. So speed just isn't that much of an issue, if it takes 100 ms or 250 ms makes no difference. Slippage, we'll again, just par for the course on any retail broker, till you can afford to get an interbank feed it's going to be how it is. Strategies should be robust enough to accommodate slippage anyway and should have code written to look for wide spreads before trading...I don't think those two factors are to much of a problem for a well designed retail strategy, proper re...

How charge spread can be profitable for Brokers? in General Jul 26, 2014 at 23:48

@240CodeFor one they don't give you any indication of the values you're trading, which is critical. If you think about it, for 100 000 lot accounts, most people would put down $10 000 which is already a fair whack. And the minimum you can trade on that is for say EurUsd 0.01 x 100 000 x exchange rate. So even your smallest trade is already 10% + of your capital. That alone will make any portfolio fail. You have to be the best of the best to make that work. So you need $100 000 at least to get started, or better trade sizes. On platforms like Oanda the value of what you put down is repo...

How charge spread can be profitable for Brokers? in General Jul 26, 2014 at 13:42

Well actually 90% of them are bucket shops. They know the failure rates, so your order doesn't even go through to market. They take the other side or square their books, before they hedge the aggregated exposure on the open market. So basically if you open a $10 000 account they just take the $10 000 from you, regardless of spread. If you do win they'll pick an argument and not pay you anyway. Bucket shop 101. Especially MT brokers. One can argue MT was designed to make the trader fail. So that's how they make money, a product designed to fail.

Whose straddling Fx news? in Experienced Traders Jul 08, 2014 at 06:15

Last 20 or so NFP's were wet fish. Flip, flop, flip, flop....dead. Last 3 Fridays I don't even bother to watch, beer and bbq. Just nothing going on. News in itself has no value, first you have to guess the news, then you have to guess the markets reaction to it. Might just as well flip a coin. What you can do though, which might work, is wait till about 15 mins after all the knee jerking is done, then straddle. If there is going to be any real move it be a little after the news. I have seen a $3 mil account where the owner simply traded NFP, once a month. But that was years ago, market...

MT4 to FIX Api in Experienced Traders Jun 27, 2014 at 00:36

Just as a footnote, as far as I understand it you can send html requests from MT, meaning you can use it with the REST API.

MT4 to FIX Api in Experienced Traders Jun 26, 2014 at 20:54

Man, I've looked at FIX a few times, but never gone that route. Unless you're trying to do HFT I don't see the point really. FIX is very limited in what it can do. If it's speed you're after then it has to be FIX, but unless you're into very high speed stuff there is really no point. I'm running the Java API on Oanda and they have the new REST API. Both are fast. Hard to imagine you'd need more than that. MT is slow. Just a fact of life, but as retail traders I can't really see a situation where MT isn't fast enough. And MQL just has so many functions wr...

EURUSD	1.04803	GBPUSD	1.25946	AUDUSD	0.65461
USDJPY	153.966	USDCAD	1.39331	USDCHF	0.89068

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