gerald325i Discussion

I'm relatively new to Forex, having started in Nov 2009 after years of trading stocks and taking advanced investments during my MBA program. I was thrown into Forex and MT4 EAs AFTER buying Megadroid. Since then I have found that there are plenty of good EAs for free to include versions of some expensive and not so good EAs. Such is the case of a modified version of Forex Millionaire robot which I found somewhere and I am trading here live and is quite successfully on some pairs -notice my losing trades of USDCAD-. Megadroid v1.30 is not very good with FXCM due to spread restrictions, although I do have a copy of MDPro XE which I am about to test. Blessing 3 EA is by far the most consistent EA although it has its risks, I have B3 set to default settings for the most part BUT I do force FMC settings according to trend probabilities as I read them from different posts and people who know more than I do. Finally, I have tried unsuccessfully to do some manual trades which account for such a low profit percentage. I just get too anxious manually trading and have since decided this is not for me. I would rather see a robot lose the same amounts the next morning than put up with the stress of a losing trade. AND yes, I have studied Fibonacci and all the technicals, but it still does nothing to calm me down :(

CAUTION: Do not come here to bash me or my methods. I do not claim to know what I am doing, I am learning and a bit of gambling with money I can afford to lose, although I would prefer to make more.

I have been Beta Testing software for a number of years and I produce excellent written reports. If you have an EA that you would like to share with me, or have me backtest/forward test or live test, please PM me. I am also fluent in Italian and Spanish so I could help out translating manuals in exchange for your 'Holy Grail.' I will not turn down the possibility of making money while making you some as well. I am also willing to trade some of my EAs and set files if your offer is interesting, so just shoot. Finally, I can appreciate advice/criticism when it is constructive, so help will not be turned down :)

Good Luck

Gerald

Hi Gerald,
Okay first things first.
It may sound like paranoia but I really wouldn't go for a broker just because they offer free vps.

The absolute last thing you want to be doing is allowing your broker access to see what you are using on your setup.

You can get a decent vps for somewhere around $30 per month which given your account balance I'm sure you could stretch to.

Steve

Steve, I have read some of your other posts here as I have been a silent reader for a while, you're a smart dude. And regarding the VPS, you are very right, I probably lose the $30 per month with FXCM's spreads. The main problem I face is deciding which broker or VPS host to choose. There is so much garbage in the Forex world that without good advice is like flying blind.
what would you recommend?

Thanks!

I have in the past used Commercial Network Services, they tailor their solutions specifically for traders.

Personally I use a company in Switzerland as they are the closest I can find to Dukascopy ( as latency is also key with trading ).

With regards to brokers, I use Jade FX for my MT4 live account. They are unregulated though, which may or may not bother you. Personally I only have about $1000 in there. I'm not 100% happy with them but they fit the bill for a smaller account size.

Hope that helps.

Thank you,
I checked out Jade FX and they do not allow accounts for US citizens which can only mean one thing: fear of reprisal when they run away with the money :O
I have heard that Go Markets has low spreads and is very reliable, but still checking. It's hard changing brokers, it means 2 weeks of MT4 down time unless I can manage to split the account but for that need the GBP/JPY drawdown to come down...after my current basket closes at 132.878, almost there...

Hi Gerald,
From what I understand JadeFX used to be in the US and not Belize. They fled the US to avoid the draconian measures that Obama has placed on forex trading in your country and your citizens by extension.

I'm not sure what the rational is for not allowing US citizens to trade with them, however my guess is there is some logical reason for it, based around current or future planned regulation of the US forex industry. Maybe somebody on here is better clued up than me.

If a broker is unregulated and abroad there isn't a lot of reprisal you could do anyway. Short of sending in some apache helicopters 😄

This is the reason I only use them for a play account though, I can afford to write off the $1000 if they do prove to be dubious somewhere down the line.

Some people swear by Go Markets, other people claim the execution to be slow. My guess is it depends on exactly where you are sat in the world in comparison to Australia.

It also depends on the type of trading you are doing. You don't seem to be scalping, so GO should be plenty good.

If you are scalping, then you could look at Dukascopy, IamFX, or some other shop like that. I have looked at dozens. I don't scalp, so believe it or not, forex.com is good for me right now as for an American Citizen's are limited somewhat. The reason is they don't want all the hassles of dealing with the US Government freezing their assets in American Banks if US feels they are withholding information about tax evasion or other 'Patriot' act type infringements.

I bet the Swiss wish they never took American clients either! :)

As far as Obama, I am not sure he deserves credit for so much of what has happened with these changes. It is more of a 'generational' or cyclical shift to protectionism which occurs every so often of boom/bust or ebb/flow IN MY OPINION. We will see it ease, we will see it get worse, all the flow of the Universe. :)

I love IBFX. Not for scalping, but great for long term grid trading. I can't wait till they get to Australia or UK! Hedging here I come!!!

Gil

Hi Gerald

I've just recently set up a VPS account with SWVPS - they charge $20 a month for VPS accounts which is quite cheap. So far I haven't had any problems but have only been up and running for a week. Good point on the latency above - might do some ping tests to assess the latency invovled.

One other thing if you haven't already done so is to sign up with CashBackForex. I'm trading very small amounts on my GoMarkets L-Plate account (No problems with them so far as well - good Ozzie broker) and Alpari UK account combined - only about 1 to 2 Round Lots a day, but I'm still raking in about $22 a month on cashback which covers my VPS account.

Judging by your account you shouldn't have a problem with paying for a possibly better VPS account though..

IBFX just opened AUS office too! No VPS, but I really like their overall service compared to other brokers.

Today I removed the Forex Millionaire Robot after waking up to the loss of $800 on one trade by this robot, that was the last drop and I had to remove this thing which had made just as much in the past few weeks, from here it should be a smoother ride up.
So to summarize, two EAs working on this account: Megadroid on one pair (EURUSD) and Blessing 3 on 5 pairs.

Thank you DaCoops for your recommendation of CashBackForex...It sounds like a great idea! And yeah, a VPS would pay for itself this way...very interesting! I'm still deciding, but I think I will wait until my move back to the states in December and set it up during the holiday season😎, I'm overseas now...

gerald325i posted:
    I'm relatively new to Forex, having started in Nov 2009 after years of trading stocks and taking advanced investments during my MBA program. I was thrown into Forex and MT4 EAs AFTER buying Megadroid. Since then I have found that there are plenty of good EAs for free to include versions of some expensive and not so good EAs. Such is the case of a modified version of Forex Millionaire robot which I found somewhere and I am trading here live and is quite successfully on some pairs -notice my losing trades of USDCAD-. Megadroid v1.30 is not very good with FXCM due to spread restrictions, although I do have a copy of MDPro XE which I am about to test. Blessing 3 EA is by far the most consistent EA although it has its risks, I have B3 set to default settings for the most part BUT I do force FMC settings according to trend probabilities as I read them from different posts and people who know more than I do. Finally, I have tried unsuccessfully to do some manual trades which account for such a low profit percentage. I just get too anxious manually trading and have since decided this is not for me. I would rather see a robot lose the same amounts the next morning than put up with the stress of a losing trade. AND yes, I have studied Fibonacci and all the technicals, but it still does nothing to calm me down :(

CAUTION: Do not come here to bash me or my methods. I do not claim to know what I am doing, I am learning and a bit of gambling with money I can afford to lose, although I would prefer to make more.

I have been Beta Testing software for a number of years and I produce excellent written reports. If you have an EA that you would like to share with me, or have me backtest/forward test or live test, please PM me. I am also fluent in Italian and Spanish so I could help out translating manuals in exchange for your 'Holy Grail.' I will not turn down the possibility of making money while making you some as well. I am also willing to trade some of my EAs and set files if your offer is interesting, so just shoot. Finally, I can appreciate advice/criticism when it is constructive, so help will not be turned down :)

Good Luck

Gerald

,,КОРОЛЬ,, ВАМ В РУКЕ НЕ ХВАТАЕТ, МЕДАЛЕЙ, И КОРОНЫ... ВАМ ГОВОРИЛ ОБ ЭТОМ КТО НИБУДЬ?

МОЖЕТ МНЕ ТОЖЕ ПО ВЫДЕЛЫВАТЬСЯ, И ВСТАВИТЬ ФОТО МОЕГО ГОРОЖА, ТАМ ПОРШЕ, И ФЕРАРРИ!
ЗНАЕТЕ ПО ЧЕМУ Я ЭТОГО НЕ ДЕЛАЮ. ПО ТОМУ ЧТО Я НЕ ВЫДЕЛЫВАТЬСЯ. Я ОБЫЧНЫЙ НОРМАЛЬНЫЙ ЧЕЛОВЕК.

И ЕСЛИ ЭТО ЕЩЕ НИ КТО НЕ ПОНЯЛ, У ТОГО Я БУДУ ПИСАТЬ, ЧТО БЫ ИНФОРМАЦИЯ УСВАИВАЛАСЬ ЛУЧШЕ...

Я ТОЖЕ СЛУЖИЛ, ПОСЛЕ СЛУЖБЫ РАБОТАЛ В ГОСУДАРСТВЕННОЙ СЛУЖБЕ БЕЗОПАСНОСТИ. НО Я ЖЕ ЭТО НЕ ТЫЧУ КАЖДОМУ В ЛИЦО!!!
СВОЕЙ АВАТАРОЙ ВЫ ХОТИТЕ СКЛОНИТЬ К ВАМ УВАЖЕНИЕ?
НИ В ЭТО ПРОЯВЛЯЕТСЯ ЧЕЛОВЕЧЕСКОЕ УВАЖЕНИЕ. А В СУТИ ЧЕЛОВЕКА. НИ КАКАЯ ОДЕЖДА. И НИ КАКАЯ СЛУЖЕБНАЯ РАБОТА, НИ ЧЕГО НЕ СТОИТ. ВСЯ ЦЕННОСТЬ В САМОМ ЧЕЛОВЕКЕ.
И ЕСЛИ ВЫ НЕ СОГЛАСИТЕСЬ СО МНОЙ...

Я ВСЕГДА БУДУ РАД ВЫСЛУШАТЬ, КАЖДОГО НА ЭТОМ САЙТЕ, И ВАС В ТОМ ЧИСЛЕ!!!

Sorry, I don't speak Gibberish...but yes, this EA is free. So is there a way for people to download your software for demo testing or do we need to fork up the money for something that nobody seems to vouch for? Risky bet my friend, good luck though :)

,, KING,, YOU In his hand are not enough medals, and the Crown ... YOU talking about this somebody?

Maybe I should ALSO ON fabricate and paste pictures of my GOROZHA, there Porsche, and FERARRI!
WHAT TO KNOW I did not. By this I DO NOT dress. I like a normal person.

And if you have or who do not understand, The one I'm going to write what would INFORMATION assimilated BETTER ...

I also served, after the service worked at the State Security Service. But I IS NOT TYCHU the face of each!
YOUR AVATAR YOU WANT RESPECT liable to you?
This manifests itself either in human respect. And in essence RIGHTS. Nor CLOTHES. AND SERVICE nor work, nor what does not. All values in man.
And if you disagree with me ...

I'll always be glad to hear, EVERYONE ON THIS SITE, AND YOU INCLUDING!
===========================
---WOW.... That is interesting!

Gil

I think it's somewhat lost in translation. Google really need to work on that Russian - English dictionary, it's appalling

Yeah Gil, I had used the translator too but didn't want to entertain the buffoon...I guess I pissed him off with my post, ohh well...what is up with people using forex to scam and cheat. Some people get to greedy and forget honesty...

Yup, just read his thread.

I have realized after now having a brother from Kazakhstan how challenging moving from a socialist state to one of capitalism. It amazed me while I was in a former Soviet state how corrupt everything is, but how normal that corruption is....

I remember getting off the plane and not having to go through Customs because of who we knew. I remember going to the train station and having to pay the teller extra (bribe) just to get the tickets we already reserved etc... It goes on and on at every corner. Not each individuals fault, but a culture struggling under a theory that is too easy to corrupt considering general human nature.

I hope that they fall away from corruption at every corner, but if you are not corrupt in the former States of the USSR, you do not eat. :)

EDIT: I would never do business with a Russian again. A few years back on a Real Estate deal, I got burned about 17K. I just walked away with no worries as I knew when I entered the deal the culture I was dealing with. I am glad we didn't do further business. In the States. I love the Russian people, but I choose not to do business with them.

Gil, I grew up in Argentina where corruption is rampant, and I have lived in Italy for the past 3 years where it is not any better. I despise corruption, bureaucracy and lack of honesty/integrity. I see a lot of deception in forex, lies, and greed. Don't get me wrong, I'm a little greedy myself but won't get a cent at the expense of other's misfortunes. But, for some here, it is a way of life. Some of these guys steal a mediocre free EA, repackage it, throw in a few trades with maybe a better ea or manual trades, forge some statements and watch the suckers spend their dimes...I've read a few of Steve's and your comments on other people's EAs trying to get proof or debunk some of these thieves...I'm in too. Not sure if you have seen it, but anyone putting in an EA in the review section with high marks and no details will get a zero grade from me to make them come down in rating...I want proof! :)

bluemele posted:
    Yup, just read his thread.

I have realized after now having a brother from Kazakhstan how challenging moving from a socialist state to one of capitalism. It amazed me while I was in a former Soviet state how corrupt everything is, but how normal that corruption is....

I remember getting off the plane and not having to go through Customs because of who we knew. I remember going to the train station and having to pay the teller extra (bribe) just to get the tickets we already reserved etc... It goes on and on at every corner. Not each individuals fault, but a culture struggling under a theory that is too easy to corrupt considering general human nature.

I hope that they fall away from corruption at every corner, but if you are not corrupt in the former States of the USSR, you do not eat. :)

EDIT: I would never do business with a Russian again. A few years back on a Real Estate deal, I got burned about 17K. I just walked away with no worries as I knew when I entered the deal the culture I was dealing with. I am glad we didn't do further business. In the States. I love the Russian people, but I choose not to do business with them.

Yeah Gil,
I've made business with russians, the same story. All they cared about was alcohol and some monkey business.