The Active Forex Traders Discussion

[A-GAME]

No problem A game. Still wrestling with myself and trading with emotion. So I still got some learnign to do. bUt I'm not as bad as I used to be. After paying some dues I am getting used to loosing. Not liking it yet but getting there.

I need to re read that b ook next week. just as a refresher.

On a side note,if your still having trouble because you are trading with emotion,i would recommend the sedona method. Its very simple,almost too simple but the amount of benefit in relation to the amount of work involved is just astounding. It wont just help you with trading,but in all aspects of your life making you feel happier and less stressed as well as teach you the steps to take in order to clear your mind and body of all negative emotions each and every day.It becomes second nature after a while and you find yourself feeling lighter and more joyful.Then you will well and truly be able to trade without emotion especially negative.

 

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[A-GAME]

WOW. Im in shock.Ive read stories about broker price manipulation but i always thought it was nonsense. About an hour ago,i placed a trade on a EMA crossover. Just a small trade,50 lots EUR-USD. The broker i use is FXCM. I went short but it started going against me, so i decided to close my position. I adjusted my stop to break even seeing that the turn around was taking place and i was stopped out and lost $2 on the trade. I know i know its only $2 right? Thats not my problem. So i closed the platform and went downstairs for a cigarette because i was expecting my girlfriend to come home from work. I finished my cigarette and she still wasnt here so i decided to go back upstairs just to see if i was right about the price movement. To my amazement,the graph was totally different. I was gone for less than 10mins and trading a 5min graph the signal still shouldve been there right? But it was nowhere to be seen. So i thought maybe they fed me another graph pair by accident? It is software so i guess mistakes can happen. But while i was checking the other 5min charts my graphs froze up in a curious way. Something is fishy here. Has anyone else experienced anything like this? Anyone else trade with FXCM? And on top of everything else,when i contacted FXCM about this they ignored me? I understand the operators must get this kind of query quite often from newbies making mistakes but i know what i saw. Im pissed...

 

[A-GAME]

Ive now closed my platform 3 times and re-opened. My graphs wont even open now. Still loading. Hmmm

 

[AlwaysCurious]

Hm, there are always fishy spikes on brokers and market makers graphs. However this is one of the risks of scalping. That's why higher timeframes are much more comfortable. Btw you really call 50 lots a small trade? 5.000.000 units? And you complain about 2$???

 

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[A-GAME]

Hm, there are always fishy spikes on brokers and market makers graphs. However this is one of the risks of scalping. That's why higher timeframes are much more comfortable. Btw you really call 50 lots a small trade? 5.000.000 units? And you complain about 2$???

Im not worried about the $2. Far from it. What worries me is FXCM may be feeding me incorrect graphs either by accident or on purpose. The $2 is irrelevant other than to complete my story. And yes 50 lots is small when i think of where im going. I dont let present circumstances limit my imagination.

 

[kurtyordy]

If you're going to pimp the forum, at least give us an introduction to your story, skills, etc. Otherwise, the other members are going to flag it.

Can we assume from the lack of any further activity from the spammer that my spam call was correct, and if we can assume this, is it possible for my spam score to be increased?

 

[kurtyordy]

Can we assume from the lack of any further activity from the spammer that my spam call was correct, and if we can assume this, is it possible for my spam score to be increased?

so is this a no?

 

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[A-GAME]

Hi kurtyordy. Actually FXDISCIPLINE has been sending me signals since i signed up and although im not always trading when they come, the signals i have traded have all been successful.

 

[kurtyordy]

Hi kurtyordy. Actually FXDISCIPLINE has been sending me signals since i signed up and although im not always trading when they come, the signals i have traded have all been successful.

that does not change the evidence of what he did here on this forum. Just because he is accurate does not mean he was not spamming.

 

[A-GAME]

I guess my interpretation of spamming is somewhat clouded. He doesnt charge me for the signals by the way.

 

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[kurtyordy]

spamming is coming on a forum to recruit customers, free or not, and contributing little to no value to the community.

 

[kurtyordy]

I guess my interpretation of spamming is somewhat clouded. He doesnt charge me for the signals by the way.

evidence that he is/was a spammer-

post 1, claims traiding for 7 years, and offers help

post 2, claims trading for 8 years, and tells you how to find his site, no actual help given

post 3, did not even try to hide his site through the 'clever' search google routine he used in post 2, he just came out and said, visit my site.

So besides telling people about how long he traded, and about his site to recruit new customers, what did he contribute in value to this community? Nothing! And this is why I stand by my spam call.

 

[andviv]

A-GAME, maybe you can invite him to participate as a real forum member, we would be more than happy to have such an experienced participant here.

But his actions here were questionnable. Kurt, point for you.

 

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[MJ DeMarco]

I have to agree ... if you contribute, provide value, people will be compelled to visit your site. But if you just pimp "Visit my site", it will be labeled as spam.

Think of it as a "free sample" ... if 2 people are standing on a street corner selling cookies, the guy that gives a "free sample" or a taste will always outsell the guy that stands there yelling "Try my cookies!"

Contribute! Let us sample the cookies!

 

[kurtyordy]

A-GAME, maybe you can invite him to participate as a real forum member, we would be more than happy to have such an experienced participant here.

But his actions here were questionnable. Kurt, point for you.

thanks

 

[outsourcery]

I'm a bit late to the party on this one, but I thought I could contribute.

A book that is essential to anyone getting into the trading game is "trade your Way to Financial Freedom' by van tharpe. A bit of a corny title, but this is a serious book for people who want to invest to make money (not gamble).

Van tharpe was one of the first to promote the '2% risk' rule, which is parrotted on the net a lot usually by people that don't understand it.

If you want to trade you need to understand risk. Without understanding this you are just gambling- doesn't mean you can't win, but does mean it will end in tears eventually. This book will teach you a lot about how to tilt risk in your favour. It is mainly about equities, but the principles apply to trading of any instrument.

I'm still new to forex, i've been day tradign demo account for about 4 months with GFT. I am only now starting to become profitable. Before that, I traded equities for 2 years.. they are easy by comparison But I feel that forex offers higher potential returns because of the deeper liquidity.. just have to get good enough. A boring a$$ day job, but it is a license to print money.


A-Game, regarding 'fishy spikes' one thing i've noticed in forex markets is that they are extremely volatile, and they do seek out obvious stops (and reverse before obvious exits), more so then equities. This is the market being efficient (it will take the path of least winners, not the path of most winners!).

This is one of the most valuable posts i've found about dealing desks, from an actual broker employee: (i've broken the link as I don't have permission to post them yet)

doubleUdoubleUdoubleUDOTforexfactoryDOTcomSLASHshowthread.php?t=5809
^ = www . . /

You are playing on a world field, against governements, banks, hedgefunds and independant professionals. When you make money on a trade, that money came from someone elses pocket. Think of it as a competitive sport, it would be nuts to think you could win a PGA tournement without hard work, education and dedication. Same applies on the forex markets...

BTW I have heard A LOT of bad things about forex.com ... I also second babypips.com as a great resource on this. Some very smart and helpful guys there.

Cheers

 

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[MJ DeMarco]

The link from outsourcery is:

MarketMakers

 

[MJ DeMarco]

The link from outsourcery is:

MarketMakers

 

[FXDISCIPLINE]

I have to agree ... if you contribute, provide value, people will be compelled to visit your site. But if you just pimp "Visit my site", it will be labeled as spam.

Think of it as a "free sample" ... if 2 people are standing on a street corner selling cookies, the guy that gives a "free sample" or a taste will always outsell the guy that stands there yelling "Try my cookies!"

Contribute! Let us sample the cookies!

I am not selling cookies.. but all that aside .. i am amazed at the amount of spam calling my one post spam .. Is this contribution?.. Who is it helping ?. Did it help a dime?.. As far as i am concerned.. contribution is helping some one , not tearing them down or throwing stones. before commenting further on this.. pls check yourselves. As the famous quote in Bible i guess" Only those should throw stones who have not sinned" or something on those lines

That being said i apologize if it sounded like spamming. The reason i cant come often to forums is i sincerely believe in providing something of value. I also have lot of other activities i pursue and dont get time to come and post since i maintain the blog as well as make sure i send out signals that make money for people

Sorry again and due respect to every one on the forum

 

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[kurtyordy]

I am not selling cookies.. but all that aside .. i am amazed at the amount of spam calling my one post spam .. Is this contribution?.. Who is it helping ?. Did it help a dime?.. As far as i am concerned.. contribution is helping some one , not tearing them down or throwing stones. before commenting further on this.. pls check yourselves. As the famous quote in Bible i guess" Only those should throw stones who have not sinned" or something on those lines

That being said i apologize if it sounded like spamming. The reason i cant come often to forums is i sincerely believe in providing something of value. I also have lot of other activities i pursue and dont get time to come and post since i maintain the blog as well as make sure i send out signals that make money for people

Sorry again and due respect to every one on the forum

the amount of time you spend here is not what made you spam, read my layout of your previous posts before this. You added nothing of value besides telling people to check out your site. Contribute and earn the right to give site.

 

[kurtyordy]

Last thursday I decided to jump in and learn what this was all about. With $75 I started trading. I learn better by doing than reading about something.

I was down to $8 at one point, and am back up to $40.

This is very fun and very addicting. I will keep you all posted.

 

[AroundTheWorld]

Holy Crap... you got started in FOREX with $75? I had no idea it was even possible!

 

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[kurtyordy]

Holy Crap... you got started in FOREX with $75? I had no idea it was even possible!

I joined </title> <meta name="keywords" content=""> <meta name="description" content=""> <meta name="robots" content="NOODP, NOYDIR" /> <meta name="googlebot" content="index,follow" /> <link href="/fxcm_style.css" rel="stylesheet" type="text/css" /> <link hre

They gave me $25 free to sign up, and I put another $50 in. My friend is trading with just the $25, so the extra money in is not needed. They may be raping on the pips or whatever it is called, I am too new to know.

 

[MJ DeMarco]

Yup, they'll getcha on the spread. If you're sniping for pips it will kill you ... if you're trading swing, medium to long term, it won't make much difference.

 

[AlwaysCurious]

You don't learn anything about the emotions of trading if you put in that little money. Moreover the relation of risk/reward or TP/SL to the spread will be completely different from real trading, so no real learning there as well. To get a grip on the basics of this market it would be better to open a demo account somewhere.

 

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[kurtyordy]

You don't learn anything about the emotions of trading if you put in that little money. Moreover the relation of risk/reward or TP/SL to the spread will be completely different from real trading, so no real learning there as well. To get a grip on the basics of this market it would be better to open a demo account somewhere.

no offense, but how can there be more emotional tie to a demo account than a real money account no matter how small the amount?

I have never found demo accounts a good tool for me. Doing with real money is always a better teacher. People will always learn better with skin in the game than without.

 

[AlwaysCurious]

Ha, I knew my answer was too short...

I wanted to state that
1. A demo account is better suited to learn about the technical details than a 50$ micro account due to more realistic position sizes / spread ratio. That way you automate some stop loss calculations and can react quicker later on.
2. Regarding the emotions involved in trading there is no substitute for the real thing. But it then needs ammounts of money you care for.

So in any case the 50$ account is useless in my eyes.

 

[CarrieW]

Ha, I knew my answer was too short...

I wanted to state that
1. A demo account is better suited to learn about the technical details than a 50$ micro account due to more realistic position sizes / spread ratio. That way you automate some stop loss calculations and can react quicker later on.
2. Regarding the emotions involved in trading there is no substitute for the real thing. But it then needs ammounts of money you care for.

So in any case the 50$ account is useless in my eyes.

I beg to differ...

how can you say trading in a 100k demo is more real to someone whos real cash acct may only be 100? if anything its more useless to play with 100k demo then it is to play with 10cash.

its hard to place a trade with little money you actually have to do math and figure out your position size rather then just jumping in willy nilly with 10k of a 100k acct...

how can you get more real then a real money account LOL???

when I was demoing i was using a $250 account.

it doesnt matter if your using whole lots or fractions of lots your position sizes should change porportionaly, being equal to the same standard rules of trading your using.

it doesnt matter what your trading 100000 10000 1000 100 10 1 .10 or .001.

true you can automate more and calculate less on a larger demo account but how is skipping these learning steps going to help someone later on in a real account?

 

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[AlwaysCurious]

it doesnt matter if your using whole lots or fractions of lots your position sizes should change porportionaly, being equal to the same standard rules of trading your using.

it doesnt matter what your trading 100000 10000 1000 100 10 1 .10 or .001.

Not true because of the spread. The smaller your account, the smaller your stops will be (provided you stick to the rule of max 2% loss per trade). The smaller your stops, the bigger the spread is in relation, adding to your leverage. This means that each trade is in effect more expensive compared to a better funded account. The smaller your account, the more successfull trades you need to be profitable, the bigger are the odds against you. For the real costs of leverage see for example: The Number One Reason Why Traders Fail in the Forex Currency Market

That's why I assume that a "real" live account will normally be considerably bigger than 50$.

 

[CarrieW]

no
no
no no no lol

I understand what your thinking and I dont believe you are right lol.

I have actually read that link before.

my stop loss is a certian number of pips(depending on the trade type) it doesnt matter what size the account or my trade is. I am scaling everything down by the exact same math. its identical just smaller.

well it does but only in that im risking 5% on a smaller account rather then the ideal 2%. but if I stuck with 2% it would be identicial.