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QUOTE(Hawk @ Jun 2 2005, 11:12 PM) Well iam on the same boat Aleph. When u really get to understand forex the feelin u get is unbeleivable  [right][snapback]263498[/snapback][/right] I think it was just beginners luck... I see, it needs a lot of training to get a feeling for those charts... QUOTE(Aleph @ Jun 2 2005, 04:13 PM) Well, my first 2 weeks with my metatrader demoaccount made me believe that forex is the most easiest way to multiply my money. I started with a 100K account and wothin 10 tradingdays my account balance has grown up to 180K  But now for the last 3 or 4 days I expirienced only losses and actually my account balance is at 130K  Thank you all for sharing your thoughts and ressources about forex. I hardly sleep at night, I'm thinking about forex all the time...  [right][snapback]263353[/snapback][/right] Aleph, I was the same way when I opened a demo account. I was doing really good and was thinking this is way too easy. Must have been beginners luck. Then I went through a real dry spell and couldn't do anything right but I started to learn more and seem to be evening out now. I need to put more time into this. 
Aleph,
i would advise you to open a demoaccount with the amount of money you want to spend when you do real trading! it is a bad training when you have a demo account with 100k and you want to start with about 1k. imagine your demoaccount is filled with YOUR money! QUOTE(againstbush @ Jun 3 2005, 03:00 PM) Aleph, i would recommend you to open a demoaccount with the amount of money you want to spend when you do real trading! it is a bad training when you have a demo account with 100k and you want to start with about 1k. imagine your demoaccount is filled with YOUR money! [right][snapback]264103[/snapback][/right] You're right, I allready thought about, but first I have to understand a bit how everything is working and with more money I have more space to make errors Well, but actually with the 100K account I'm buying/selling usually 8 Lots per trade. With a 1K account I would probably use 0.1 Lot per trade...Anyway, actually I'm not thinking about putting real money into forex... mabay in the future 
Hi
I asked my trader friend if there is anythin out there that can help people learn and understand Forex without having a forex mentor sittin next to them and teaching them. I told him its for some of my friends ( you guys ) . He didnt know but he asked one of his other trader friends and told me today there is a way but it will cost ya. He told me that if they dont learn forex with this system they will never learn or understand forex. Its probably the best forex course available but it does come with a price of $1995 for a lifetime membership. Its called "The Forex Foundation" They guarantee that you don't have to pay if you don't learn and profit from what they teach.The link is this http://www.dollartrader.net/home After i heard about it i did my own research on it and found it on moneytec where alot of the traders there have tried it n recommended it to be the best. I think if your dead serious about forex and want to really learn about it this is for you. Check the reviews about FOREX FOUNDATION from the following links. http://www.moneytec.com/forums/showthread....oney+management Ill keep u guys posted if i get anymore good info on forex.
forex trading.. does nayone here make tons of money thru forex?
Wow. This thread is very GOOD! Terrific!
I've started trading live 10 days ago using alot of principals from this thread and i gotta say its been very useful. There is definetly a JUMP between trading live and trading demo that is when you start winning trades in a LIVE account you tend to get greedy and make stupid trades without sticking to your strategy. Its all about controlling your emotions and deceplining yourself which is the difference between success and failure. You guys will really understand it when your trading live, its much more emotional than demo trading. Another thing i noticed is that before you make a trade plan it start to finish. Make sure you have an idea of how many pips you want to capture ( i always aim low 5 - 20 pips per trade) and place a limit. If you know your stuff and you start of a mini account with $1k you can expect to make $100 - $200 easily per day risking 33% of you account total with an avarega of about 2 - 4 short trades per day . If you start with $500 its alot riskier and you need to trade cautiously aiming low like $50 per day and then building it up slowly.
Has anyone heard of Rob Booker his a awsome trader who teaches and helps people to learn forex trading. I think his website is another really good place for forex newbies to learn. He has free ebooks and free signals that you can try out. Also he has seminars and online courses that are 1 to 1 which supposed to be good but costs abit.
http://www.robbooker.com/ .gif)
QUOTE(Hawk @ Jul 10 2005, 11:51 AM) Has anyone heard of Rob Booker his a awsome trader who teaches and helps people to learn forex trading. I think his website is another really good place for forex newbies to learn. He has free ebooks and free signals that you can try out. Also he has seminars and online courses that are 1 to 1 which supposed to be good but costs abit. http://www.robbooker.com/ [right][snapback]314177[/snapback][/right] He seems very honest and there are many happy people that have used his service over at Moneytec. Check out http://dollartrader.net/home too, many seem happy with their service.  QUOTE(Hawk @ Jun 29 2005, 07:12 AM) If you know your stuff and you start of a mini account with $1k you can expect to make $100 - $200 easily per day risking 33% of you account total with an avarega of about 2 - 4 short trades per day . If you start with $500 its alot riskier and you need to trade cautiously aiming low like $50 per day and then building it up slowly. [right][snapback]297565[/snapback][/right] I have been FX trading for a couple of years now and I just have to let all of the newbies out there know that making 10-20% per day is not easy. Sure, it is possible ocassionally, but not sustainable. If 10-20% per day was easy then everyone would be doing it. Without compounding that would mean making 200-400% monthly. Hawk, what is your leverage and how many mini-lots are you trading? QUOTE(2001z71 @ Jul 12 2005, 12:46 AM) I have been FX trading for a couple of years now and I just have to let all of the newbies out there know that making 10-20% per day is not easy. Sure, it is possible ocassionally, but not sustainable. If 10-20% per day was easy then everyone would be doing it. Without compounding that would mean making 200-400% monthly. Hawk, what is your leverage and how many mini-lots are you trading? [right][snapback]316070[/snapback][/right] Hi 2001z71 I've got a consistant strategy in place averaging 15 - 30 pips a day. I use up between 33% - 50% of my account level to trade. At the moment I am trading 10 mini lots. I aim low and average about 3 - 5 trades a day. I've based my opinion on my perfomance thats all. I put alot of time and effort to atchieve a strategy that suits my stlye and its working for me at a 85% consistant level. I beleive if u decepline yourself and pratice practice practice alot of hours and have a will to win and never give up it is not difficult to make 10 - 20% a day. QUOTE(Hawk @ Jul 11 2005, 11:54 PM) I've got a consistant strategy in place averaging 15 - 30 pips a day. I use up between 33% - 50% of my account level to trade. At the moment I am trading 10 mini lots. I aim low and average about 3 - 5 trades a day. I've based my opinion on my perfomance thats all. I put alot of time and effort to atchieve a strategy that suits my stlye and its working for me at a 85% consistant level. I beleive if u decepline yourself and pratice practice practice alot of hours and have a will to win and never give up it is not difficult to make 10 - 20% a day. [right][snapback]316259[/snapback][/right] Well, if it is working for you then I congratulate you. I personally think that trading 10 mini-lots on a $1,000 account is very risky, especially for beginners (maybe not you but others reading this thread). With that kind of leverage comes great profits and also great losses. QUOTE(OptiMystic @ Jul 12 2005, 03:50 PM) Has anyone tried http://www.tradertech.com/home_forex.asp?Code=glv They claim 810 pips in 35 days [right][snapback]317385[/snapback][/right] I don't think that their claim of 810 pips was an actual trade or trade recommendation. They are just showing a chart with two moving averages that have crossed. I don't know if this site has been mentioned or not, but FX-Review is an excellent resource for finding out about signal providers.
is it just me or has the USD pairs been very trendy lately?
I have demo account and have almost doubled my money in 3 days just by entering info from a free forcast service. Please tell me its always this easy 
QUOTE(unclejesse @ Jul 13 2005, 06:43 PM) is it just me or has the USD pairs been very trendy lately? I have demo account and have almost doubled my money in 3 days just by entering info from a free forcast service. Please tell me its always this easy [right][snapback]319256[/snapback][/right] Can I ask what forecast service? QUOTE(unclejesse @ Jul 13 2005, 10:43 PM) is it just me or has the USD pairs been very trendy lately? I have demo account and have almost doubled my money in 3 days just by entering info from a free forcast service. Please tell me its always this easy [right][snapback]319256[/snapback][/right] Its not always easy UJ but as long as the trend and indicators match the movement of what the forecast is telling you its usually profitable .
QUOTE(Heywood U. Cuddleme @ Jul 14 2005, 02:45 AM) Can I ask what forecast service? [right][snapback]319484[/snapback][/right] If anyone wants free forecast service i am using 2 which are consistant if you use them along with your indicators and follow the trend developing. DONT USE THEM BLINDLY  . 1. FOREX PREDICTIONS - http://www.forexpredictions.com/daily.html It gives you daily High/Low values for the next day on most of the pairs. What i do is take the values and put a horizontal line across them on the chart at the start of the trading day. 2. S.A.F.E - http://www.safelimited.com/ This is a free subscription service so register and they will email you daily predictions. When you goto the site click on daily4cast to register.
QUOTE(Hawk @ Jul 14 2005, 12:55 AM) If anyone wants free forecast service i am using 2 which are consistant if you use them along with your indicators and follow the trend developing. DONT USE THEM BLINDLY . 1. FOREX PREDICTIONS - http://www.forexpredictions.com/daily.html It gives you daily High/Low values for the next day on most of the pairs. What i do is take the values and put a horizontal line across them on the chart at the start of the trading day. 2. S.A.F.E - http://www.safelimited.com/ This is a free subscription service so register and they will email you daily predictions. When you goto the site click on daily4cast to register. [right][snapback]319625[/snapback][/right] I highly recommend S.A.F.E., but you already know that 
yes. I was using SAFE. I would just enter in the numbers before I go to sleep (demo account).
When I wake up in the morning... BAMM!! easy 20-70 pips of profit Now I just need to learn how to use the idicators with the forcast and I will be golden. SAFE claims to have produced over 1,000 pips last month. I think its more like 200-300 which is still pretty good.
I've learned FOREX for a week , but i still don get it.
i still dont understand...how do i get 1st??How do i put my money? pls explain me QUOTE(capsule46 @ Jul 14 2005, 06:42 PM) I've learned FOREX for a week , but i still don get it. i still dont understand...how do i get 1st??How do i put my money? pls explain me [right][snapback]320087[/snapback][/right] JUST DO READ THE THREAD FROM THE FIRST PAGE CAREFULLY AND YOU WILL LEARN WHAT IS NEEDED IN THIS BUSINESS. 
QUOTE(FiFtHeLeMeNt @ Jul 16 2005, 08:12 PM) JUST DO READ THE THREAD FROM THE FIRST PAGE CAREFULLY AND YOU WILL LEARN WHAT IS NEEDED IN THIS BUSINESS. [right][snapback]323347[/snapback][/right] not to be sarcastic, but this forum is meant for newbies. so instead of flaming someone (virtue of you using BIG CAPS), you can actually try to be nice and give advice instead!  One of the rules is 'To Be Nice!' thank you! QUOTE(capsule46 @ Jul 14 2005, 10:12 AM) I've learned FOREX for a week , but i still don get it. i still dont understand...how do i get 1st??How do i put my money? pls explain me [right][snapback]320087[/snapback][/right] A good place to start is http://www.forextips.com/freeforextutorial.htm
QUOTE(FinallyRetire @ Jul 16 2005, 10:47 AM) A good place to start is http://www.forextips.com/freeforextutorial.htm [right][snapback]323468[/snapback][/right] I back that, thats the place I send all the beginners
Update on S.A.F.E.
QUOTE The free trial will come to an end on 31st July 2005, but those clients who pay the subscription fee will be able to receive the signals beyond this date. You can still have access to the signals on our weblog, but with one day delay. After research and comparison with similar services in the market, we are able to set our prices at a level affordable by all. We will have two subscription options for our clients:- > A monthly subscription fee of 150 + VAT*; > A yearly subscription fee of 1,500 + VAT*. (20% discount) * Where applicable. 
Im sure us MMGers can think of a way to "work something out"
Since SAFE are stoping there free signal services at the end of the month. I have found another place which seems to produce FREE signals which looks pretty good . Goto http://www.forexfactory.com/forexforum/showthread.php?t=2311 for comments and http://finance.groups.yahoo.com/group/ggtrades/ to join the yahoo group for free signals. If you do try them out please post your comments in here.
Hiya guys!
Count me in as a new forex noobie! Ive only discovered this thread (like about 4 days now) and have been damn interested ever since. Ive read as much as time permits and finally decided to open a DEMO account yesterday at Oanda as my friend says its simple enough for beginners to use. Played around with it yesterday just to get the feel of the program and finally put in my first trade today! And call it beginners luck, ive managed to rack in 44 pips in a session of 2 trades. It may not be alot, but damn im beaming!! Im still trying to understand some other strategies and how other indicators work, so hopefully i can maintain this form for this week. Cheers!!
wow. Good job on your first trades! Those positive pips sure are fun to watch on your screen
QUOTE(Hawk @ Jul 19 2005, 05:41 AM) Since SAFE are stoping there free signal services at the end of the month. I have found another place which seems to produce FREE signals which looks pretty good . Goto http://www.forexfactory.com/forexforum/showthread.php?t=2311 for comments and http://finance.groups.yahoo.com/group/ggtrades/ to join the yahoo group for free signals. If you do try them out please post your comments in here. [right][snapback]327472[/snapback][/right] ggtrades is a good one. He use to be on TG with his info. It's worth joining his group. QUOTE(unclejesse @ Jul 20 2005, 12:14 AM) wow. Good job on your first trades! Those positive pips sure are fun to watch on your screen [right][snapback]327865[/snapback][/right] Thanks! And just before i went to sleep, i checked the charts again and saw a very clear signal of reversion (to me at least) and placed one last trade. And when i wake up, i was delighted to see it added another 24 pips to my profit balance.  I calculated it could went up to 48 pips but i placed a TakeProfit order cos i couldnt monitor it. Heh cant be greedy right? BTW is there any other reliable browser-based platform besides Oanda as im doing my trades from work (shhhh!! ) and my system unfortuantely do not allow external programs such as MT4 to access the internet.Thanks! QUOTE(boiboyan @ Jul 20 2005, 12:56 AM) Thanks! And just before i went to sleep, i checked the charts again and saw a very clear signal of reversion (to me at least) and placed one last trade. And when i wake up, i was delighted to see it added another 24 pips to my profit balance. I calculated it could went up to 48 pips but i placed a TakeProfit order cos i couldnt monitor it. Heh cant be greedy right? BTW is there any other reliable browser-based platform besides Oanda as im doing my trades from work (shhhh!! ) and my system unfortuantely do not allow external programs such as MT4 to access the internet.Thanks! [right][snapback]328403[/snapback][/right] Oanda is one of the best trading platform which is webased but u do get a few more thats works using Java Technology on the web. Here are 2 more: Gain Capital - http://www.gaincapital.com/ - GAIN Capital is one of the most reputable Forex broker founded in 1999. There trading system only works in Internet explorer version 5.0 or higher. Its another top web based system. GCITRADING- http://www.gcitrading.com/ - There not bad but they do accept Egold and its web based. When you trade live with them they dont give u the price u ask for n it can be a  . It shouldnt effect u too much if you have a solid strategy. Unfortunatly they dont accept clients from USA because there kinda anonymous based in Belize.
Just been reviewing the ggtrades:
June: won 82% of trades (+300 pips) July: won 75% of trades (-6 pips) to date..... Cant beat the price !!! QUOTE(Hawk @ Jul 20 2005, 06:52 PM) Oanda is one of the best trading platform which is webased but u do get a few more thats works using Java Technology on the web. Here are 2 more: Gain Capital - http://www.gaincapital.com/ - GAIN Capital is one of the most reputable Forex broker founded in 1999. There trading system only works in Internet explorer version 5.0 or higher. Its another top web based system. GCITRADING- http://www.gcitrading.com/ - There not bad but they do accept Egold and its web based. When you trade live with them they dont give u the price u ask for n it can be a . It shouldnt effect u too much if you have a solid strategy. Unfortunatly they dont accept clients from USA because there kinda anonymous based in Belize. [right][snapback]328899[/snapback][/right] Heh thanks a lot Hawk. I'll go check it out then. I may be going live soon, but i'll only put in a small amount cos i don't believe in going Demo for too long. The emotional effects are so damn different when real money is involved. So it'll be interesting to see if i'll be trading the same style when the RISKS are real. Cheers! QUOTE(boiboyan @ Jul 21 2005, 01:34 AM) Heh thanks a lot Hawk. I'll go check it out then. I may be going live soon, but i'll only put in a small amount cos i don't believe in going Demo for too long. The emotional effects are so damn different when real money is involved. So it'll be interesting to see if i'll be trading the same style when the RISKS are real. Cheers! [right][snapback]329859[/snapback][/right] Live trading is a totally different ball game. The emotional effect is much greater and intense. I suggest u go in with a winning strategy that is consistant. Also open a mini account and trade with 1 lot which means (1 pip = $1) so u reduce the risk factor and u familiarise urself with trading live. Keep practicing for over a month trading 1 LOT. It will be hard if u keep winning and u dont raise the LOT size but keep it at 1 Lot for a while thats the only way to decepline your emotions. Remember when ur trading live with a good strategy EMOTIONS = ENEMY  .
QUOTE(Hawk @ Jul 21 2005, 12:18 PM) Remember when ur trading live with a good strategy EMOTIONS = ENEMY .[right][snapback]330027[/snapback][/right] That is so very true dude!! Even now when trading Demo, i've still need to rein in my emotions especially during a loss run. Heh like Master Yoda said "Fear leads to Anger, Anger leads to Hate, Hate leads to Suffering.." Btw, what kind of margins should i use? Cos Oanda only provides 10:1, 20:1, 40:1 and 50:1. Cheers!
QUOTE(realook @ Jul 19 2005, 01:16 PM) ggtrades is a good one. He use to be on TG with his info. It's worth joining his group. [right][snapback]327930[/snapback][/right] FYI If you download the Yahoo Messanger program and join the GG yahoo group, you will get a pop-up message telling you when to make the trades. You can also listen to free music
For any new people like me, I found the free FX wizard ebook very very useful and it has a kick ass strategy:
http://spreadtrade2win.com/forum/viewtopic...894#FX-Wizard:_ You will also be able to download some free idicators for Metatrader that will show you when to place your trade using only a few tools. I have made 7 trades so far using it and made won most of them (profit +63 pips). Backtesting it also looks very accurate. QUOTE(unclejesse @ Jul 21 2005, 08:47 AM) For any new people like me, I found the free FX wizard ebook very very useful and it has a kick ass strategy: http://spreadtrade2win.com/forum/viewtopic...894#FX-Wizard:_ You will also be able to download some free idicators for Metatrader that will show you when to place your trade using only a few tools. I have made 7 trades so far using it and made won most of them (profit +63 pips). Backtesting it also looks very accurate. [right][snapback]330928[/snapback][/right] HI UC ist's Tyler here. Where do you get your charts for trading. I'm a member of FXTrainer and I find their prices way to steep!!! Thanks Tyler
Hi. Im only using a free demo account with Metatrader and FXDD.
I hope to go live in September. QUOTE(unclejesse @ Jul 21 2005, 08:47 AM) For any new people like me, I found the free FX wizard ebook very very useful and it has a kick ass strategy: http://spreadtrade2win.com/forum/viewtopic...894#FX-Wizard:_ You will also be able to download some free idicators for Metatrader that will show you when to place your trade using only a few tools. I have made 7 trades so far using it and made won most of them (profit +63 pips). Backtesting it also looks very accurate. [right][snapback]330928[/snapback][/right] Well I downloaded the e-book and setup Metatrader with the Alerts and this system is KICKASS!!! I can't believe how well it works. This is a gret system for trading on the Forex. Tyler IMSGOLD
Too bad I have been breaking the rules of this sytem and loosing lots of money. Time to get back to basics
QUOTE(unclejesse @ Jul 26 2005, 10:12 AM) Too bad I have been breaking the rules of this sytem and loosing lots of money. Time to get back to basics [right][snapback]339545[/snapback][/right] I'm using this system with the Daily info I get from SAFe as well. The two combined actually work well together. I have made 6 trades and all have been profitable, especially if you use the buy and sell signals on the Hourly Chart. From what I have learned the best way to trade on the Forex is by using a system and not your own personal feelings. Great system and a good way to earn PIPS. Tyler QUOTE(IMSGold @ Jul 26 2005, 05:43 PM) I'm using this system with the Daily info I get from SAFe as well. The two combined actually work well together. I have made 6 trades and all have been profitable, especially if you use the buy and sell signals on the Hourly Chart. From what I have learned the best way to trade on the Forex is by using a system and not your own personal feelings. Great system and a good way to earn PIPS. Tyler [right][snapback]339631[/snapback][/right] Your doing well IMSGold Eliminating feelings = Emotionless = Profits Using the fxwizard strategy along with a good signal service can be profitable . I've been using it for a while now and i have to say the 1 hr chart is the best one for the concept. I would also advice u to try putting in Stochastics, rsi and Denapoli MACD and look at the 1 hr chart. It will give u a edge cause u can predict when the adx is likely to move up along with the signal service. Good Input IMSGold
Many many good pieces of information here
 MoneyTec has tutorials for FX traders that are worth reading.
Tyler
what time zone are you in and what pairs have you been trading? I have trouble catching the good trades at the right time.... QUOTE(unclejesse @ Jul 27 2005, 01:42 PM) Tyler what time zone are you in and what pairs have you been trading? I have trouble catching the good trades at the right time.... [right][snapback]341757[/snapback][/right] My time zone is Pacific and I trade EUR/US, and GBP/US. The best time for trading is European hours which is around 11:00 PM to 5:00AM. Sometimes trading is really good from 5:00AM to 7:00 AM. Just follow the rules in the e-book and you will win Tyler QUOTE(IMSGold @ Jul 29 2005, 02:26 PM) My time zone is Pacific and I trade EUR/US, and GBP/US. The best time for trading is European hours which is around 11:00 PM to 5:00AM. Sometimes trading is really good from 5:00AM to 7:00 AM. Just follow the rules in the e-book and you will win Tyler [right][snapback]344919[/snapback][/right] Are you demo or real trading now? 
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