xgavinc's Posts - Page 11

A life change in New Traders Oct 29, 2013 at 10:06

Exactly what I use... : -)Problem is, every so often your fingers itch and you want to add some manual trades... or you want to "correct" or "assist" the EA (it closes trades well, but you feel it's not opening enough trades for example)... or you see movement in the market that you feel the EA hasn't picked up and so you try to catch the opportunity, unfortunately the EA knows best, and before long you have chewed up margin... then you try to correct your "mistake" by adding more trades (either opposite positions or same position to grab pips so you can h...

A life change in New Traders Oct 29, 2013 at 08:07

It's not about outsmarting others, it's about outsmarting yourself. I have been trading for three years and I'm still learning... every so often getting the "Ah-ha" moments.I think the biggest 'secret' to success in Forex trading is to start with small amounts of money (if you have $1000.00, open an account and only use $200 of it, that gives you 5 chances rather than one big margin call), and secondly, stick with it. Many times I thought of giving up because it felt like I was throwing my money away, but made my losses back this year.My biggest hurdle is greed......

Orders per symbol. in Programming Sep 11, 2013 at 14:15

Can do something like this: (It's a rough example, not a complete EA!!!)extern string SymbolA = "EURUSD";extern int OrderCountLimit = 10;int AllOrderCount;void OrderCount(){AllOrderCount = 0; for(int i=0;i<OrdersTotal(); i++ ) { if(OrderSelect(i, SELECT_BY_POS)==true && OrderSymbol() == SymbolA) //or Symbol() for current chart. { AllOrderCount++; } }}// Other code that eventually calls CheckOrderCount()void CheckOrderCount(){if (AllOrderCount < OrderCountLimit) {OpenOrder(); }}void OpenOrder(){//Code to open / create o...

Fund Manager seeking a great advise here in Experienced Traders Dec 09, 2012 at 01:30

Personally I would get a lawyer. All countries have different laws and ways of handling things. If the contract was done according to legal standards then it should be binding and you may have a case (but you will need a lawyer to deal with that as there may be loopholes in the contract you may have overlooked). The amounts could also mean that the type of court may differ between the different clients.Where I am from:A contract signed and agreed by both parties is legally binding. period.You are responsible for your own taxes (income tax), so tax is deducted from your share and paid by you, f...

Contest - kang_piko in Trading Systems Dec 01, 2012 at 12:50

Beginners luck - always goes well until you figure out what you are doing right. 😁

Contest - Forexangel in Trading Systems Dec 01, 2012 at 12:45

I think I get what he is trying to say...He uses an EA, your solution shows manual trading. The orders close out fine (by stop loss - if you look at his history), but does not open orders. I have posted a solution to this before in another thread, he has to set the slippage in the EA to 30.

they are the most profitable pairs ... ? in General Nov 28, 2012 at 10:31

Back on topic, the question was EUR/USD most profitable? ehm, no. It has the most liquidity, ie. you are pretty much certain to get a buyer / seller on the other end as it is the most traded pair. most profitable would depend on lot sizes, the greater the size the more 'potential' profit, but just as great the loss of it goes against you.

Off Quotes on MT4 Contest November 15th? in General Nov 21, 2012 at 08:47

The above solution is for manual trades, if you are using an EA, you have to set the slippage in the EA:In the examples the variable to set is 'Slippage', or just replace it with 10 or more.Open:OrderSend(Symbol(), OP_BUY, Lots, Ask, Slippage, 0, 0, "MY_EA", 1, 0, Blue);Close:OrderClose(OrderTicket(),OrderLots(),MarketInfo(OrderSymbol(),MODE_BID),Slippage,Red);Even after these I still get off quotes on some majors & crosses, set it higher in this case. Also note that it seems the spread has an impact as well, higher spread need to have higher slippage setting.

Is compounding necessary? in New Traders Nov 19, 2012 at 09:47

As long as it's more than the previous amount, else it wouldn't be compounding. At least that is the way I see it 😁I agree totally with James_Bond, it's all pointless if you aren't making a consistent profit though.

Is compounding necessary? in New Traders Nov 18, 2012 at 21:17

I seem to be at odds with everyone lately, lol. Then I stand corrected, so if using the term synonymously with the term reinvestment, I guess you could refer to it as compounding if you were to continually reinvest your gains, and your current reinvested gains were more than your previous gains. Sound correct?

they are the most profitable pairs ... ? in General Nov 18, 2012 at 20:58

Well, we will have to see, besides I trade for the enjoyment of trading (it's a hobby), not to make fast profits (though it would be a bonus if i actually did make a lot, but for me it's for the challenge), I agree that capital plays a role in your ability to hold off on margin calls, I don't agree that leverage dictates the success of your trading or system, if it's profitable, it will earn on any degree of leverage. My question was toward posters in general posting their fabulous unbeatable system and providing 'proof' of it on demo accounts. My intention was not to a...

they are the most profitable pairs ... ? in General Nov 18, 2012 at 16:54

I'm curious... if the system is so good, why is the 'proof' always shown through demo accounts? I have made millions on demo's with various systems and they crash and burn on live accounts. I'd say, put you money where your mouth is and show us live account stats over 30, 60 and 90 days. If you want to be taken seriously, only live stats will work, 'FACT'.

Is compounding necessary? in New Traders Nov 16, 2012 at 12:43

Compounding is based on interest (and is derived from interest), you can't technically compound in trading, as the amount you are "compounding" is put back as risk to cover drawdown and new positions. If you mean compounding in terms of increased position sizing, you are compounding your risk, not your capital. I doubt Warren Buffet compounds his profits (I think he will chuckle if he hears that), he would use his profits to obtain investments elsewhere, called risk capital, based on a percentage of portfolio. (so he could double his risk capital - bonus! or lose it all - in whic...

they are the most profitable pairs ... ? in General Nov 16, 2012 at 12:16

Won 41% of the time, Lose 59% of the time... looks like the b!tch smacks back. 😁

they are the most profitable pairs ... ? in General Nov 15, 2012 at 22:05

On a demo? seriously!? 🙄

Off Quotes on MT4 Contest November 15th? in General Nov 15, 2012 at 21:56

Tools -> Options -> Trade [TAB]Set Deviation by default to 10 pips.

Alpari 1000 Micro 1 Live in Trading Systems May 16, 2012 at 14:35

Took a major knock with spot silver yesterday, finally was able to close out the last 3 buy positions (XAGUSD) at a loss before any further damage was caused on available margin.Back to trading only EURUSD on 0.01 pips, hedging buy and sell positions and closing out daily maximum negative order covered by profit.Plan of action in order of priority:1. Recover losses from XAGUSD (approx $441.00)2. Change EA to manual lot entries.2. Bring Equity over initial deposits for this year (>$1200)3. Bring Equity over initial deposits total (>$1875)4. Change lot size to 0.02 on $2000 equity target.5...

Starting from scratch. in New Traders Apr 16, 2012 at 10:24

Hi Daniel,Busy reading through your plan, and have some comments you might want to consider.I'll quote you / give ref, then add my comment."2% total account growth per trade" - This seems backward, should be "maximum risk 2% equity", growth will follow. If you are going to concentrate on growth over risk, you are looking for trouble. Manage risk first and let growth follow.1.5 makes no sense, make it simpler like 2% of equity over initial capital (so if your total deposits were $1000 and equity now stands at $1040, you can withdraw $20, leaving you with $1020... if equi...

Starting from scratch. in New Traders Mar 29, 2012 at 07:40

I trade 15min, it's a good balance between scalping and trading, I find the larger the time frame the larger the capital required to maintain money management rules (in my case) and usually equals less trade executions. A must for your bookshelf is - statistics (nothing major required, just intro stuff), as well as probability theory (this will help a lot when it comes to money management and position sizing and placement).As to Brokers, I am with Alpari UK. Low spreads, no commissions, and extremely helpful (touch wood - I usually praise companies on good service, only to have them turn b...

EURUSD	1.05265	GBPUSD	1.26077	AUDUSD	0.6456
USDJPY	154.322	USDCAD	1.40888	USDCHF	0.8882

Posts by xgavinc