I need help 75 years old retired
Sep 22, 2012 at 17:20
You were a 'financial planner'? I wouldn't ever tell anyone that or that you were a RE broker because obviously you failed miserably at both if you are on here begging people to help you make money trading.
This is too funny.
Rhocus12 posted:
I was a Finacial Planner In Canada before that a real Estate Broker. Now trying to learn Forex with out much Luck.
Any help will be very well received .
Rhocus12
It's not the market. It's not the spread. It's not slippage. It's not the broker. It's not the system. It's YOU. Once you stop whining and making excuses, you can start winning.
Member Since Sep 22, 2012
1 posts
Sep 23, 2012 at 06:59
Rhocus12 posted:
I was a Finacial Planner In Canada before that a real Estate Broker. Now trying to learn Forex with out much Luck.
Any help will be very well received .
Rhocus12
well you can contact me and i will be more than happy to show you the ropes...good luck regards ....Kevin Hector
Sep 23, 2012 at 17:24
RD123 posted:
You were a 'financial planner'? I wouldn't ever tell anyone that or that you were a RE broker because obviously you failed miserably at both if you are on here begging people to help you make money trading.
This is too funny.Rhocus12 posted:
I was a Finacial Planner In Canada before that a real Estate Broker. Now trying to learn Forex with out much Luck.
Any help will be very well received .
Rhocus12
You are an absolute douche bag. The guy has come on here asking for advice or help and you mock him......What goes around comes around
Member Since Aug 21, 2012
6 posts
Sep 23, 2012 at 19:05
There are countless idiots who fail at forex/don't even forex who will try to sell you their garbage systems/EAs. Avoid all of them.
It takes years to build a reputation and 5 minutes to ruin it. If you think about that, you'll do things differently.
Member Since Feb 18, 2010
86 posts
Sep 25, 2012 at 07:44
Welcome to the party Ron.
What you will find is many automated systems that double down until they profit or wipe out.
Like betting on red and increasing the bet every time you lose. A bad run will eventualy wipe out your stash.
That's why those charts look so exponential, but very few with real money and long term.
Obviously your going to need a strategy and tactic, as a start, then fine tune it as you go.
My preferred is trend/swing trading.
What you will find is many automated systems that double down until they profit or wipe out.
Like betting on red and increasing the bet every time you lose. A bad run will eventualy wipe out your stash.
That's why those charts look so exponential, but very few with real money and long term.
Obviously your going to need a strategy and tactic, as a start, then fine tune it as you go.
My preferred is trend/swing trading.
forex_trader_32776
Member Since Mar 28, 2011
1008 posts
Sep 26, 2012 at 05:44
(edited Sep 26, 2012 at 05:44)
you will need trading tools.
First Risk Management Tool - https://www.pipinvestment.com/software/discipline-trader -- Free of course
Next A strategy and another Tool - https://www.pipinvestment.com/software/idraw -- Also Free with limited setting
Download here - https://www.pipinvestment.com/software/download
Together you can cut your losses and let your winners run. The strategy is Trend Line Trading. A lot of free information on this subject.
Try to avoid the indicators and focus on Price Action, - candles, renko, range bars,
good luck
First Risk Management Tool - https://www.pipinvestment.com/software/discipline-trader -- Free of course
Next A strategy and another Tool - https://www.pipinvestment.com/software/idraw -- Also Free with limited setting
Download here - https://www.pipinvestment.com/software/download
Together you can cut your losses and let your winners run. The strategy is Trend Line Trading. A lot of free information on this subject.
Try to avoid the indicators and focus on Price Action, - candles, renko, range bars,
good luck
Member Since Jul 31, 2011
4 posts
Sep 26, 2012 at 18:51
Ron it is about money management and probability. there are systems that do work. you can download data and sql has only 24 commands so most simple systems are possible to back test.
If you need training go with fxbootcamp, and if you have more money training traders are good.
my advice is to sit down with a pen and paper and work out what you want in 6 months, 12 months, 5 years. Plans are powerful things and mine tend to work.
If you need training go with fxbootcamp, and if you have more money training traders are good.
my advice is to sit down with a pen and paper and work out what you want in 6 months, 12 months, 5 years. Plans are powerful things and mine tend to work.
Build from Profits
forex_trader_43716
Member Since Aug 06, 2011
345 posts
Nov 02, 2012 at 19:55
RD123 posted:
You were a 'financial planner'? I wouldn't ever tell anyone that or that you were a RE broker because obviously you failed miserably at both if you are on here begging people to help you make money trading.
This is too funny.Rhocus12 posted:
I was a Finacial Planner In Canada before that a real Estate Broker. Now trying to learn Forex with out much Luck.
Any help will be very well received .
Rhocus12
Yes...and I run a group of successful companies before Forex. What's your point FTP?
Member Since Feb 18, 2010
86 posts
Nov 07, 2012 at 07:33
I would suggest reading
The Complete TurtleTrader by Michael Covel
Great book, and the principles still work.
And check out www.turtletrader.com
The Complete TurtleTrader by Michael Covel
Great book, and the principles still work.
And check out www.turtletrader.com
Member Since Jun 21, 2012
18 posts
Nov 07, 2012 at 11:54
I would say that most of the old and established techniques do not work consistently. The easiest way if you know how to program is to put them into and EA and test them - most if adhered to strictly do not achieve very high yields.
The only way to get smarter is by playing a smarter opponent
forex_trader_43716
Member Since Aug 06, 2011
345 posts
Nov 07, 2012 at 19:43
cfxsignals posted:
I would say that most of the old and established techniques do not work consistently. The easiest way if you know how to program is to put them into and EA and test them - most if adhered to strictly do not achieve very high yields.
I'm still using 'old established' techniques I learned since 1978, and they still work consistently today. The real problem is in believing success is linked to forecasting the future. It's not. It's about watching what is happening right now and responding according to your trading strategy.
Member Since Feb 18, 2010
86 posts
Nov 08, 2012 at 08:27
None of the old technique EAs seem to work as they should.
I can do it manually looking at daily charts, why bother.
Even the all MA cross EAs i found don't work properly.
I can do it manually looking at daily charts, why bother.
Even the all MA cross EAs i found don't work properly.
Member Since Aug 16, 2010
453 posts
Nov 08, 2012 at 09:51
Currency market is so highly manipulated today as never before, and stock market where from all these strategies came can't even dream of manipulation of that sort. So beware. They do work, but mostly success is related to 'hunch' of experienced trader. So if you simply trade by the rule the best you can expect is to be slightly positive on the year and accept big draw downs. The thing that works the best in currencies is what is happening mostly in currencies: stops runs. If you learn to trade with manipulators and enter where people exit you can make it in Forex.
Was mich nicht umbringt, macht mich stärker.
Member Since Aug 16, 2010
453 posts
Nov 08, 2012 at 09:53
PS if you want to trade with classic strategies look for stock indicies mostly - they behave much better, even if nowhere near predictable like in old days where risk sentiment was an unknown word and please judged fundamentals and accumulation cycles. Markets now is panic-on panic-off mode and dealers simply take money from gunning participants' stops.
Was mich nicht umbringt, macht mich stärker.
Member Since Feb 18, 2010
86 posts
Nov 09, 2012 at 09:52
Raa given what i see they are still much better than most strategies.
Of course I understand that 20-40% a year may seem 'slighlty positive' to the martingale MT5 crowd here, but what has disappeared from myfxbook are the blown out accounts.
Experience is not 'hunch', it's recognition of patterns and events that happened before and taking a calculated risked based on outcomes previously seen.
Of course I understand that 20-40% a year may seem 'slighlty positive' to the martingale MT5 crowd here, but what has disappeared from myfxbook are the blown out accounts.
Experience is not 'hunch', it's recognition of patterns and events that happened before and taking a calculated risked based on outcomes previously seen.
Member Since Nov 09, 2012
76 posts
Nov 09, 2012 at 10:21
@Ron I just wanna wish you luck. With your background your learning will be easy. so I guess that is your start point. just read a lot and train your skills on the demo account straight away after learning.
If you want to end up with a nonaverage net worth, a “learn from someone else” attitude is paramount. Putting your ego aside and admitting that you don’t know it all isn’t easy, but it is the mindset of true winner ----Paul Tudor Jones.
forex_trader_43716
Member Since Aug 06, 2011
345 posts
Nov 14, 2012 at 06:07
SwingTrader posted:
Raa given what i see they are still much better than most strategies.
Of course I understand that 20-40% a year may seem 'slighlty positive' to the martingale MT5 crowd here, but what has disappeared from myfxbook are the blown out accounts.
Experience is not 'hunch', it's recognition of patterns and events that happened before and taking a calculated risked based on outcomes previously seen.
😎
