DislikedLook forward to test Your Robot! Does it work with both 4 and 5 digits criminal?
ElovvIgnored
Scoobs.
Trading correlation pairs by using the other pairs 744 replies
Export All pairs or selected pairs to .csv with script 3 replies
Pairs of Currency Pairs 4 replies
Trending Pairs / Ranging Pairs 0 replies
Robot trading 120 replies
DislikedLook forward to test Your Robot! Does it work with both 4 and 5 digits criminal?
ElovvIgnored
DislikedThis is a question for Scoobs:
How do you personally distinguish between a trending and ranging market?Ignored
DislikedIf you mean commercially then....
1. Volumes.
2. Size and quantity of Pending orders at IB levels.
3. Accumulation of Relative Price change.
Scoobs.Ignored
Disliked1. Pick known trending pairs, like GBPJPY etc
2. Only trade them during their own market hours. So for GBPJPY it would be London and Tokyo sessions. Not if a public or festive holiday affecting either.
3. Make sure their 20 day EMA is not near to their 200 day EMA.
4. Use ATC (attached) and make sure it is clearly pointing down or up, not sideways.
5. Look at the price change over a period of time. i.e. 15M. New highs or lows for the timeframe.Ignored
DislikedThis is, by far, the best single message I've ever seen posted on this Forum. Thank you!Ignored
DislikedYou should be careful what you read on some of these threads on FF. There are many people who clearly do not know what they are doing and is probably the major reason why so many seem to lose money in retail forex.Ignored
DislikedThanks.
You should be careful what you read on some of these threads on FF. There are many people who clearly do not know what they are doing and is probably the major reason why so many seem to lose money in retail forex.
I know it is easy for me to say but once you learn/understand the basic concepts then there is really no reason why you cannot win far more trades than you lose.
Because it is often real money, newbie traders tend to panic after placing a trade because the market temporarily moves against them. If they sat back and thought...Ignored
DislikedMost of us lost money in the early stages because we were clueless. Newbie traders will continue to do so for the same reason.
Unless you happen to be a trader with a penchant for playing Mozart piano concertos, I can easily explain it.
I could stick a score of a concerto in front of you. You would be clueless abpit how to play the music.
I could spend several hours explaining the concepts that underly playing a Mozart concerto and you would still be clueless.
If you then spend 3-5 years practising the piano 6 hours + a day, you still wouldn't...Ignored
DislikedYes you are correct but I still dont understand why people cant or wont take the time to learn the basics before using real money.Ignored
QuoteDislikedOn a different note, we had a promising newbie trader when I worked in London. He kept on and on about when he could trade live, so we put him on a market simulator. He lost 300K in 4 hours. No big deal people think as it was a simulator. The problem was we didnt tell him so he thought he had actually lost real money, I thought he was going to have a heart attack.
He never asked again and left at the end of the week.
People may think that what we did was harsh but sometimes you have to let people learn the hard way.
Scoobs.
DislikedI just read 235 pages of this thread over the weekends. And I would like to thank Steve and Scoobs for their forex know how and programming. I am going to try Scoob's BOJ intervention strategy manually and also put the 24H EA on demo. I haven't finished reading the rest of the thread...I need to take it slow and really absorb all the useful information.
Question for Scoobs, are there any female traders working in the forex trading world (hedgefunds, floor tradres, etc.)? If there are, what is their survival rate and is it easy to get into this...Ignored
DislikedMost of us lost money in the early stages because we were clueless. Newbie traders will continue to do so for the same reason...
Hey ho. I often say this to piano pupils, "If piano playing were actually easy, then everybody would do it. It isn't, so they don't." The same must be true of making money by trading forex.
Ignored
DislikedI am still reading thread 210, and now I know that you guys are around at this time. I am sure by the end of the week, the thread will be 400 pages already...trying to catch up....you guys are on a different EA, while I am still reading on 24H BOJ EA. Are we abandoning the BOJ and 24H BOJ EA?Ignored
DislikedIt is scary how alike all of us traders are. If you read the intro for many threads (e.g. THV, Sonic, etc), it describes us with frightening predictability. First we have an idea of letting a magical "holy Grail" EA making us loads of money, then we say how hard it can be, can only go up or down 50/50 right!!!
[color=black][font=Verdana]Then comes the "EURIKA" moment when it hits us that like any profession (e.g. accountancy, law, engineering), EDUCATION is a MUST. After the foundation stage of reading...Ignored
I am just lucky, I guess, that I am: at a stage in my life where I have the time to spend developing software; fascinated by writing software.
The occasional round of applause doesn't do my ego any harm, either.
Together, those of us with the nous to understand what is going on, will 'get there'.
And if that damned Holy Grail robot is possible, then I will code it for sure.