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Thread: FOREX trading

  1. #13

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    Default Re: FOREX trading

    Quote Originally Posted by sdouglas3 View Post
    Hello,

    I trade the Forex. I have been burning through money for a long time. However, I have come across an EA called Robominer that is incredible. It is a long term trading ea that will make you 3 to 10% per month. There are some drawdowns but not like you would normally see with other ea's. I'm not pushing the ea. But, I do like it and have it running 24/6. The site is http://www.forex-goldmine.net/ Check it out. I like the fact that I can diversify away from these funds and have another avenue to help make me money. JMO

    Steve
    Hey Steve, thanks for posting that and I hope your trades are going well. I like to control my destiny a little more than their stay and play. If you've noticed, I've moved out of the U.S. because of the hedging limitations. We are the only country that requires it.....I reviewed goldmine and read through the FAQs -but aren't they limited to 2 pairs for trading?.... Since I'm a computer guy by trade I like to give the whole experience a tweak to the Frixxxx side and add a few flavors of my own. I use MT4 for tweaking indicators and deploying strategies.

    Anyway, Stay on this and let me know how your trading is going and if you see trends developing.

    Oh....And Way to go on diversifying your portfolio!!!!!!
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    100%- I Fund

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  3. #14

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    Default Re: FOREX trading

    I don't understand how you can trade currency without hedging. Don't you have to sell one currency to buy another?

  4.  
  5. #15

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    Default Re: FOREX trading

    Quote Originally Posted by Bullitt View Post
    I don't understand how you can trade currency without hedging. Don't you have to sell one currency to buy another?
    Well, you trade pairs....USDJPY

    If the dollars weak, like now, its let's just say its 93.10 now($1 US = 93.10 Yen), lets say you think the dollar is going to get strong (buy more) Yen so you place a LONG position.
    Now, If the $ gets strong...the USDJPY starts to move....93.10.....93.30.....93.60.... and you now want to close the position.....you get 57 pips (3 is the spread).

    Now based on how you trade let's say you place a long position and your expectation is 100. That is a fair distance but nice for this example. You watch the pair again.....93.10.....94....95...96.40....(uh-oh) resistance.

    Now, you see that there is some downward movement. In the old days, you could place a short position while it fell back from that resistance. Hence, hedging losses.

    You can't do that now in the states. You are limited to "ONE" direction. Well, let's say I start out at 93, but it hits resistance immediately. Now I have to wait until it turns around to make money....rather than allowing a hedge to cover margin I have to close the position, open an opposite position, and then determine a new long "switch point."

    Hence, I moved my accounts to oversea banks to let me HEDGE. Hmmm...I can make money on both sides of the movement.

    Hope this helps!!!
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    100%- I Fund

  6.  
  7. #16

    Default Re: FOREX trading

    Quote Originally Posted by Frixxxx View Post
    Hey Steve, thanks for posting that and I hope your trades are going well. I like to control my destiny a little more than their stay and play. If you've noticed, I've moved out of the U.S. because of the hedging limitations. We are the only country that requires it.....I reviewed goldmine and read through the FAQs -but aren't they limited to 2 pairs for trading?.... Since I'm a computer guy by trade I like to give the whole experience a tweak to the Frixxxx side and add a few flavors of my own. I use MT4 for tweaking indicators and deploying strategies.

    Anyway, Stay on this and let me know how your trading is going and if you see trends developing.

    Oh....And Way to go on diversifying your portfolio!!!!!!
    Hello Frixxxx,

    Yes, that EA is limited to one or two pair. Using the two pairs though increases your monthly return and keeps your margin lower because they offset each other somewhat. They have another ea on thier site called Shadow which you can use just about any pair on.

    I understand that a person can make a lot more money in the Forex market without using Robominer. However, I haven't figured it out yet how to do it. I have spent hundreds of dollars and hours trying to figure it out and have ended up losing thousands of real dollars. Well, I came to a point that I had enough but still wanted to participate in the Forex market. So, I came across Robominer and it works very well. It's like watching paint dry. So, you set it and forget it for a week or so. Then start to look at your results. Overtime it builds and builds your account.

    I left the US brokers for Forex.com UK to be able to hedge if needed. As it turns out it looks like a lot of US brokers are moving overseas to get away from the NFA regulations.

    I was running FapTurbo for a long time. But, it seems have run on it's last leg. I think the banks have figured it out and have done something to keep it from performing like it use to.

    There is an outstanding site that reviews ea's and has a very good forum. It's donnaforex.com Donna lives in England and trades the forex.

    Have a good day!

    Steve

  8.  
  9. #17

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    Default Re: FOREX trading

    Quote Originally Posted by sdouglas3 View Post

    There is an outstanding site that reviews ea's and has a very good forum. It's donnaforex.com Donna lives in England and trades the forex.

    Have a good day!

    Steve
    Thanks for the site, will check it out....

    Another note, I have a few acounts in London and a few in Cypress. Need to look into some others, but these are the easiest to work with....My background checks on other countries are pending.

    I will not trade with banks that are in countries that support terrorism.

    They are out there.

    Oh, and for everyone in the derivative markets....HAHA....Geithner ratted you guys out today...your the next contestant on why the economy is so bad!

    Have a great weekend all...I have Reserve Duty...No rested for the wicked!!!!!!!
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    100%- I Fund

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  11. #18

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    Default FOREX trading

    Yen – got to love volatility. Whips to 91.60 back to 92.50 in less than 12 hours.

    The Yen is in the “bouncy bounce” we love in Forex. Retracements from the Fib are the call this week and there are going to be many “bounces” during earning reports this week.

    Australian Dollar looks to support the same movement as gold gets a boost this week.

    Pound and Euro are set for sideways movements. But the experts are shorting them against the $.

    I cringe when I say this but we had a 200% account movement to the green last week. The cringe is, once you do it you think its repeatable all the time….The reality is, to get that type of return means you had to set a rule breaker up to capitalize on market movement.

    Anyway, have a great week and I’ll try and keep you up-to-date in the Currency World
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    100%- I Fund


  12.  
  13. #19

    Default Re: FOREX trading

    Quote Originally Posted by Frixxxx View Post
    Yen – got to love volatility. Whips to 91.60 back to 92.50 in less than 12 hours.

    The Yen is in the “bouncy bounce” we love in Forex. Retracements from the Fib are the call this week and there are going to be many “bounces” during earning reports this week.

    Australian Dollar looks to support the same movement as gold gets a boost this week.

    Pound and Euro are set for sideways movements. But the experts are shorting them against the $.

    I cringe when I say this but we had a 200% account movement to the green last week. The cringe is, once you do it you think its repeatable all the time….The reality is, to get that type of return means you had to set a rule breaker up to capitalize on market movement.

    Anyway, have a great week and I’ll try and keep you up-to-date in the Currency World
    Awesome Frixxx,

    Have to like the bounces. Money making opportunities for sure. I use fibs in my trading as well. I use Forex Profit Monster on a 4 hr chart to look for S&R. For me it seems to work pretty well.

    Steve

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  15. #20

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    Default Re: FOREX trading

    Quote Originally Posted by sdouglas3 View Post
    Awesome Frixxx,

    Have to like the bounces. Money making opportunities for sure. I use fibs in my trading as well. I use Forex Profit Monster on a 4 hr chart to look for S&R. For me it seems to work pretty well.

    Steve
    Profit Monster is a nice tool. I use a custom indicator with all time charts. I use it to place quick and hold positions. My custom RSI has been 89% the last three months....it's the exits on the 11% that I always cringe over......
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    100%- I Fund

  16.  
  17. #21

    Default Re: FOREX trading

    Quote Originally Posted by Frixxxx View Post
    Profit Monster is a nice tool. I use a custom indicator with all time charts. I use it to place quick and hold positions. My custom RSI has been 89% the last three months....it's the exits on the 11% that I always cringe over......
    Frixxx,

    Did you design the indicator yourself?

    Steve

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  19. #22

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    Default Re: FOREX trading

    I'm cheating today and using a link that shows some market data that might influence you either in FOREX or the stock market:

    http://www.dailyfx.com/story/tophead...254264687.html

    These items just repeat what I said yesterday.

    Weak dollar ahead.....short the carries
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    100%- I Fund

  20.  
  21. #23

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    Default Re: FOREX trading

    Quote Originally Posted by sdouglas3 View Post
    Frixxx,

    Did you design the indicator yourself?

    Steve

    Joint effort with a friend....It's our side business. We currently have 14 accounts and are in negotiations with a few hedge fund managers and some overseas investment groups.
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    100%- I Fund

  22.  
  23. #24

    Default Re: FOREX trading

    Quote Originally Posted by Frixxxx View Post
    Joint effort with a friend....It's our side business. We currently have 14 accounts and are in negotiations with a few hedge fund managers and some overseas investment groups.
    That's Cool. Let me ask a question. Do Banks and hedge funds trade with individuals or do they use EA's or a combination of the two?

    Reason I ask, if the banks win most of the time and the retail crowd loses. What seperates the banks from the retail crowd? Is it just the amount of money they have to force trades to go thier way? Also, If one bank makes money, do they win against other banks as well?

    Just some questions I was curious about.

    Thanks,

    Steve

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