The Active Forex Traders Discussion

[Muaz]

Hi I am Muaz and I can suggest you some sites from where you get the information of traders.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Russ H]

Great, Muaz, just post the info here.

Otherwise, you might be mistaken for a SPAMMER, and get banned (that would be bad!).

I see this is your first post.

You may want to go over to the introductions section and introduce yourself. You can tell us things like who you are, your experiences, and why you're here.

Welcome to the fastlane.

We look forward to learning more about you!

-Russ H.

 

[A-GAME]

Has anyone had any success with fx-auto.com?? Or zulutrade? I would be happy with 50-100 pips daily and until i have the confidence to trade on my own i was thinking a signal provider would be a good option ?

 

[AlwaysCurious]

I would be happy with 50-100 pips daily

Ha, I can imagine. That way you'd go boom in no time...

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[A-GAME]

Here's the link to bill Poulos' Forex 4-pack.

It's all the free stuff he's giving away to sell his prgram. Lots of good info for noobs.

Experienced trainers will not find anything new. I think this link willl only be good until July 22, 2008. That is when he launches his program.

FREE DOWNLOAD | Forex Profit Accelerator Blog

I have no affilliation with this program. Just pointing to good free info.

Wow thanks for that eagle.I just saw your post now.Ill definately check that.Reps!

 

[^eagle^]

Wow thanks for that eagle.I just saw your post now.Ill definately check that.Reps!

Thanks, Bill has a lot of useful info out there. But his programs are quite expensive. Most of the information he gives can be found for free if you look hard enough.

Being a day trader I find bill's style to be too slow for me. LAter on as my account grows I may be able to take advantage of bigger mid term market moves. Riding my account using his system would be like taking a dingy out in the pacific ocean.

Right now I just surf along the coastline. Catching bigger and bigger waves.

Cowabunga dude!

 

[danald75]

Hello friends
This is Daniel KC Smart.
Can any one please show me a group of Good and experienced traders that can manage some mini accounts and trade for someone, and get the investor a profit receiving account
to receive his profits?
If there is any one who can help out, Please contact me.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[g-dogg]

If i were you Daniel, i wouldn't put out all my info online like that. There are a lot of people out there that claim to be "trading experts" and what not, and are ready to snatch your money and use it like it was demo account so be careful. if you want someone to trade for you its better to know them in real life face to face, just in case s*** hits the fan u know?.

Andrew

 

[andviv]

g-dogg, I wouldn't worry that much about it... this seems to be a case of "phishing"... danald75 is asking for somebody to help him with his millions... you contact him, he tells you a bunch of lies and then asks you to deposit a fee for whatever reason, and that's it, he's got your money.

 

[FXDISCIPLINE]

Are you still trading currencies?

I have been trading for 7 years , need help?

V

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[^eagle^]

Hello fxdiscipline.

I just started learning forex last June. I became interested in EAs. especially Forex auto pilot.

But I am now beginning to see their limitations. Today i started practicing breakout trading and I'm doing well this morning. Up 800usd on 5000. I'm being aggressive but trading support/resistance breakouts to minimize my risk.

Setting buy and sell stops at points above resistance or below support when I find triangles flags,rectangles or pennants looking to break out. Trading on m15 with 20 pip stop loss+spread and tp of 2 to 3 times stop loss. Trading 1 lot per trade.

So far one stop hit and two TP hit with a third locked in at +400usd

This is my first day and I am excited to see such major profits on such a simple system.

Two stops were broght downn. One to BE+2 and the other 10 pips above current price.
Stops were hit for a gain of 380usd.
Total for the day in three hours work
1100+usd

Going to keep practicing and not getting my hopes up until I see consistent results.

 

[mcirl2]

hey guys,

I have been studying trading (Technical Analysis, Money Mgt etc) for a while now.

2 things I may you advise on:

1) The article / doc (first page on this thread as an attachment) about using CME Futures versus FX brokers is a very good argument. Because if these brokers (FX Brokers) are unregulated they can start playing dirty tricks on you if you starting doing well. This may or may not happen but I consider it a risk.

It is a bit like Spread Betting (Very popular in Ireland / UK). You only need 200euro to opan an account and you bet min €1 / point of a stock / currency move. The problem here again is that it is unregulated. Some brokers are better than others but they blame a bad data feed for much of the problems. For example I read about some guy who had a multi week trade and had paper profits of €9000+, and then suddenly the position is closed and he gets an email saying "Due to a bad data feed your entry was invalid. Thus all paper profits are null and void"!!

I know that bad fills etc happen with every broker but by sticking with a regulated one (etrade etc), there is less risk.

Then again, I have never traded with a forex broker so can't be 100% sure what they are like, just be cautious.

2) secondly, make sure you are using a solid money management plan (only risking 2% of your capital per trade). Van Tharp's book Trade Your Way to Financial Freedom, is good on this topic and covers expectancy etc.
After reading this, I realised that Money Management and Exits are by far the most important aspects of trading. Entries aren't as important as you think.

For stock charts - try prophet.net - great charts that go back 20+ years.
It is very useful for practicing trading. Just bring up the 10 year daily chart for a stock (eg. AAPL) and zoom in and then scroll back to the start and making some paper trades. No need to wait for the live market to move. This is a great way to practice Technical Analysis for Entries and Exits.

Also, does anyone know of a good website for Futures charts? Cant find any ones.

Sorry for going a bit off topic but I think its useful stuff.

Mike

 

[FXDISCIPLINE]

Well i Have been trading forex for 8 years. I have started to offer trading signals for free to interested active traders. This service is for free. I have checked with the forum owners and they permitted me to introduce myself here . If any of you like to trade , you can join me on my blog . search in google for the keyword "four week forex" and you will find my blog.

I suggest you first read the op-ed piece and understand the challenges you need to face when becoming and being a forex trader . Review the blog thoroughly and signup only if you are raedy

Look forward to seeing some of you interested folks

Regards
V
4weekforex

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[A-GAME]

Hi everyone.Its been a while since my last post.Ive been concentrating on achieving my goals and following my master plan Im just wondering if there are any forex traders in here with advice on how to convert from demo to live? I started using my demo account with fxcm a few months ago.Its great fun to learn and my future was looking bright.I went live about 2 months ago and lost a heap of money my first day.I couldnt figure out why since i was going so well on my demo account.I took a few steps back and decided to build a stronger trading system and its been going great.Slowly learning new things every day,and keeping my eye on the prize.Last friday i made $12,000USD trading lots of about 2000 on my demo.Monday was same $12,000USD again.I decided to trade my real account only on a smaller scale and made some good trades.Tuesday i was up again so again i made some small trades with my live account,all were successfull once again.Its now thursday and ive lost 1 trade all day with many successfull trades.Now here is my problem,even though ive made gains from every trade accept for one since friday last week,whenever i i open a position i get really nervous.Im up $500USD on my live account this week alone but that fear is still there every time i trade.Any tips on overcoming this doubt? I usually find when i doubt myself,i lose money.This new system is great however i dont want to make the same mistake again.Ive taken my demo account from $28,000 to $62,000 in just a few days.I know the its not much but hey,it should be enough to stop me shaking when i open a position right lol? Any ideas would be much appreciated...

 

[AlwaysCurious]

@A-GAME:
First of all be assured that it is perfectly normal to be emotionally involved when it comes to real money. However, this feelings of fear and greed are the higher, the more the amount dealt differs from your current "level of comfort". This level of comfort is usually defined by the amount of money you can easily afford to loose. I guess, 10k+ is not you normal level of comfort or am I completely mistaken here?

An increase of 100%+ within days makes me suspicious. Do you mind sharing your system? Anyway, this also is an indicator for me that your position sizes are much to big. Granted, the riskier your approach, the more profit you can potentially make. But this also applies for the possible losses. The risk of losing will be too high and in the long run, I predict your account to be busted sooner or later. So maybe your fear is justified right now.

A less aggressive lot size would reduce your risk and maybe also your fear of losing.

But always remember: Losing is part of this business. You have to live with it, you have to get used to it and you have to make it part of your trading style. Fear is a clear sign, that you are not at this stage, yet. You can learn to deal with the fear of losing by experience, by knowing and reducing the possible risks and by having a trade plan that includes losses.

Good luck.

 

[cmartin371]

Always offers some great advice. And it does sound like your money management is way out of whack. This could be the cause of your fears. Do you know if your system has any sort of an edge? With solid money manangement and a hit rate of 51% you will make money.

With that being said this is a business and there will be losses. Accept that. Your job is to contol the losses to a minimum.....like any other CEO of a corporation. Stop thinking about the money and run your business.

Chris

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[CarrieW]

My advice is to have your practice account set up with the amount of money you will have in the real live account. when you can make profits on the smaller demo acct then switch. Id imagine from the problem you are having you are using the same size lots on your 100k demo account as you are with your smaller real live account.

you need to lower your $ risk per trade by adjusting your lot sizes. if your broker wont allow you to use mini or micro lots like .5 or .1 of a regular lot find one who will.

 

[Rawr]

Carrie are you trading now? This is a really fun time to trade IMO

 

[A-GAME]

@A-GAME:
First of all be assured that it is perfectly normal to be emotionally involved when it comes to real money. However, this feelings of fear and greed are the higher, the more the amount dealt differs from your current "level of comfort". This level of comfort is usually defined by the amount of money you can easily afford to loose. I guess, 10k+ is not you normal level of comfort or am I completely mistaken here?

An increase of 100%+ within days makes me suspicious. Do you mind sharing your system? Anyway, this also is an indicator for me that your position sizes are much to big. Granted, the riskier your approach, the more profit you can potentially make. But this also applies for the possible losses. The risk of losing will be too high and in the long run, I predict your account to be busted sooner or later. So maybe your fear is justified right now.

A less aggressive lot size would reduce your risk and maybe also your fear of losing.

But always remember: Losing is part of this business. You have to live with it, you have to get used to it and you have to make it part of your trading style. Fear is a clear sign, that you are not at this stage, yet. You can learn to deal with the fear of losing by experience, by knowing and reducing the possible risks and by having a trade plan that includes losses.

Good luck.

Each time i make a trade i first work out my lot size as a percentage of my overall account.The number i am using was recommended to me from a friend of mine who has made over $7,000,000AUD in the past 4 years.I would rather not go into details about my trading style too much simply for the fact that it is working extremely well for me so far and any criticism even constructive may have a detrimental effect on my mental attitude towards it.I can tell you i trade on a 5 min graph using EMA's and MACD's.I would however like to hear your advice on how to work out lot sizes according to my overall account.I think your spot on about my trades being too big for my account...

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[A-GAME]

My advice is to have your practice account set up with the amount of money you will have in the real live account. when you can make profits on the smaller demo acct then switch. Id imagine from the problem you are having you are using the same size lots on your 100k demo account as you are with your smaller real live account.

you need to lower your $ risk per trade by adjusting your lot sizes. if your broker wont allow you to use mini or micro lots like .5 or .1 of a regular lot find one who will.

Hi Carrie.No im not trading the same size lots.My lot sizes are worked out as a percentage of my overall account before i place each trade.

 

[AlwaysCurious]

When setting up a trade, I first determine my Stop-Loss from trend lines, support & resistances and so on. This is different for each trade. I then calculate the position size, so that the given PIPs equal 1 or 2% of my account size (depending on my confidence in this trade). I use a broker, that allows every position size, so I am not limited to lots, mini or micro lots. If you do it the same way, I am more than astound of the extreme positive results. And I wonder, why you experience the slightest bit of fear.

 

[A-GAME]

When setting up a trade, I first determine my Stop-Loss from trend lines, support & resistances and so on. This is different for each trade. I then calculate the position size, so that the given PIPs equal 1 or 2% of my account size (depending on my confidence in this trade). I use a broker, that allows every position size, so I am not limited to lots, mini or micro lots. If you do it the same way, I am more than astound of the extreme positive results. And I wonder, why you experience the slightest bit of fear.

I have a few ideas.It may be a fear of failure although i doubt that because i dont believe in failure unless one gives up,and that is not something i am willing to do.It may be looking like a failure to all my friends and family? Thats definitely in the back of my mind and something i need to work on.I really shouldn't care what anyone thinks because i know i will achieve my goals.Most likely cause is because i opened a live account before i should have and suffered substantial losses.Now i guess its a learned behavior.I will get over it and i will succeed,but i do need to adjust my lot sizes for starters.I know they teach 2% for beginners but that seems kind of conservative? Thats why i took my friends advice.All is well when im making gains however,when the losses come they will be rather large so im going to take your advice and reduce my lot size accordingly.My stops and limits are set up automatically at 20 pips each way as soon as my position is opened.Ill let you know how i go.Thank you for your advice its greatly appreciated...

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[FXDISCIPLINE]

Hi everyone.Its been a while since my last post.Ive been concentrating on achieving my goals and following my master plan Im just wondering if there are any forex traders in here with advice on how to convert from demo to live? I started using my demo account with fxcm a few months ago.Its great fun to learn and my future was looking bright.I went live about 2 months ago and lost a heap of money my first day.I couldnt figure out why since i was going so well on my demo account.I took a few steps back and decided to build a stronger trading system and its been going great.Slowly learning new things every day,and keeping my eye on the prize.Last friday i made $12,000USD trading lots of about 2000 on my demo.Monday was same $12,000USD again.I decided to trade my real account only on a smaller scale and made some good trades.Tuesday i was up again so again i made some small trades with my live account,all were successfull once again.Its now thursday and ive lost 1 trade all day with many successfull trades.Now here is my problem,even though ive made gains from every trade accept for one since friday last week,whenever i i open a position i get really nervous.Im up $500USD on my live account this week alone but that fear is still there every time i trade.Any tips on overcoming this doubt? I usually find when i doubt myself,i lose money.This new system is great however i dont want to make the same mistake again.Ive taken my demo account from $28,000 to $62,000 in just a few days.I know the its not much but hey,it should be enough to stop me shaking when i open a position right lol? Any ideas would be much appreciated...

Hi check my blog .. 4weekforex.com and if you like.. sign up.. it is free anyway and read the Op-ed piece, it might help

 

[kurtyordy]

Hi check my blog .. 4weekforex.com and if you like.. sign up.. it is free anyway and read the Op-ed piece, it might help

spammy mc spammer:rulez:

 

[MJ DeMarco]

Hi check my blog .. 4weekforex.com and if you like.. sign up.. it is free anyway and read the Op-ed piece, it might help

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.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[^eagle^]

I have a few ideas.It may be a fear of failure although i doubt that because i dont believe in failure unless one gives up,and that is not something i am willing to do.It may be looking like a failure to all my friends and family? Thats definitely in the back of my mind and something i need to work on.I really shouldn't care what anyone thinks because i know i will achieve my goals.Most likely cause is because i opened a live account before i should have and suffered substantial losses.Now i guess its a learned behavior.I will get over it and i will succeed,but i do need to adjust my lot sizes for starters.I know they teach 2% for beginners but that seems kind of conservative? Thats why i took my friends advice.All is well when im making gains however,when the losses come they will be rather large so im going to take your advice and reduce my lot size accordingly.My stops and limits are set up automatically at 20 pips each way as soon as my position is opened.Ill let you know how i go.Thank you for your advice its greatly appreciated...

So its a coin flip trade with an edge. like to see your money management. Could you PM me or email me. I would like to take a look at your system. You can get more agressive with the right approach. It s all a numbers game, And exit is more important than entry follow the money and cut your losses short never argue with which way the market goes. Check the news evety hour and never trade against the h1 candle,
l0footpole@aol.com (my email without my name)

In the mean time check this out.
Great book on trading psychologyTrading in the Zone by Mark Douglas — Free Download — Forex Book

 

[A-GAME]

So its a coin flip trade with an edge. like to see your money management. Could you PM me or email me. I would like to take a look at your system. You can get more agressive with the right approach. It s all a numbers game, And exit is more important than entry follow the money and cut your losses short never argue with which way the market goes. Check the news evety hour and never trade against the h1 candle,
l0footpole@aol.com (my email without my name)

In the mean time check this out.
Great book on trading psychologyTrading in*the Zone by*Mark Douglas*— Free Download — Forex Book

Thanks eagle.Im downloading it now.That sounds perfect.PM on the way...

 

[A-GAME]

This is a big thank you going out to eagle for posting Mark Douglas book ''Trading In The Zone''. Apart from being exactly what i needed personally,i think it would be valuable to 95% of traders. The psychology side of trading is not something that is given much attention on any forums that ive seen however,after thinking about ideas outlined in the book it really is a make or break topic as far as im concerned.If you learn to think and act like the minority (5%) of consistent traders then you will make it.Unfortunately the rest (95%) are doomed to fail.This really is something that should be taught in all the forex courses.Thanks again eagle

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[^eagle^]

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.

 

[A-GAME]

Its definitely going into rotation on my list of ''books to read constantly''. This paragraph says it all.Its an excerpt form chapter 6.



To some degree, you are probably already aware of many of the fundamental truths (psychological
characteristics) about the nature of trading. But having an awareness or an understanding of some
principle, insight, or concept doesn't necessarily equate to acceptance and belief. When something has been truly accepted, it isn't in conflict with any other component of our mental environment. When we believe in something, we operate out of that belief as a natural function of who we are, without struggle or extra effort. To whatever degree there is a conflict with any other component of our mental environment, to the same degree there is a lack of acceptance. It isn't difficult, therefore, to understand why so few people make it as traders.
They simply don't do the mental work necessary to reconcile the many conflicts that exist between
what they've already learned and believe, and how that learning contradicts and acts as a source of
resistance to implementing the various principles of successful trading. Getting into and taking
advantage of the kind of free-flowing states of mind that are ideal for trading requires that those
conflicts be thoroughly resolved.


I have put a draft in my cell to read through the day as i trade. Taken from the book of course,but also changed a little and put in my own words...

1.I will trade without fear or overconfidence.
2.I will perceive what the market is offering from its perspective.
3.I will stay completely focused in the ''now moment opportunity flow''.
4.I will spontaneously enter ''the zone'' each time i trade.


I will use it like a mantra reading it out aloud several times a day especially before each trade so as to keep it fresh in my mind.