This is the best explanation of how the forex works I have ever read. Please read it when you get a chance.
http://www.forexfactory.com/showthread.php?t=7484
http://www.forexfactory.com/showthread.php?t=7484
Need explanation on Good boy EA 0 replies
Lazy Boy Day Chart Strategy 35 replies
blue boy system 35 replies
new boy 10 replies
DislikedThanks Bob, yourSELF doing wonderful job! I am sure I will be benefited by your work.
Is it possible to trade this with $500 if I start with 0.01 lot and just 10 pairs?
Is it possible for you to pick best 10 from the 18 you mentioned earlier?Ignored
Dislikedok this may be a little unrelated (so pm with answers) but any of you guys using ibfx live outside of the US...
i was just looking into getting a live account but theres an issue.
Say i deposit $1000 AUD, it then gets converted to say $600USD. If i trade that to $800 USD and want to withdraw it it gets converted to australian dollars back. That means if the exchange rate goes down more i could actually receive less than $1000 AUD even though ive made money???
what the?Ignored
DislikedHow about the 10 safest
Aud/jpy and Eur/jpy because they are risk pairs
Eur/gbp because it has high margin usage
Aud/nzd because of high spreads
Gbp/Usd because of recent volatility
Aud/chf because it is a new pair and has shown volatility during its short time of being used.
NZD/USD because twice it has done spikes of over 1500 pipsIgnored
DislikedGBPUSD looks good because of recent volatility. It's ranging very well if u look at the past months. If u compare EURUSD and GBPUSD which one is worst ?
Aud/nzd and Aud/chf also range very well for the past months.
IMO, EURGBP shouldn't be added into any list because it's moving slow and nowadays it tend to trend. Which means becoz of the slow movement it doesn't have enough pips when retrench for TP and it goes back to trend another day.
USDSGD might also have the same problem with EURGBP. USDSGD also has the potential problem of not enough...Ignored
DislikedHow about the 10 safest pairs so lets do this by elimination
That leaves us with 12 pairs left from my list. I will let you choose which 2 you dont want to use from the 12 left.
AUD-CAD,USD,
CHF/JPY
EUR-CAD,USD,CHF
NZD-JPY,CHF
USD-CAD,CHF,JPY,SGD
I decided I will start with these same 12 pairs and .02 to start at 1000 @ 400:1. I will be conservative and trade the same risk as your 500 @ .01Ignored
Dislikednanningbob
Can I confirmed that the EA signal for buy and sell is based on a daily moving average and not stochastics?Ignored
DislikedHi all
the demo acount that I started since 6 Nov 08 using the original 12 paris from post #1 at lot size 0.01 had grown to a nice balance of about $6400 from $3000. The EAs were run continuously. Well, it had crashed today casued by eurusd and usdchf leaving a balance of $2300.Ignored
DislikedYup gotta stay away from the news, especially interest rate statement unless you went in with a clean slate. In other words you close all your trades so you have the full protection of the range of the EA. It is better just to stay out though.Ignored