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Help for Newbies (Discussion Thread)

  • #401
  • Mar 11, 2011 5:23am Mar 11, 2011 5:23am
Very interesting thread for newbies. Good that there is a community where I can ask my "easy" question and don't need to create new separate thread.

Can somebody help me to find complete list of NFA regulated brokers.

Thanks in advance.
  • #402
  • Mar 11, 2011 4:40pm Mar 11, 2011 4:40pm
100 Forex Brokers.com has this information on brokers.
You can also visit the NFA site and find a Broker & Firm Basic information tab as well.

I also subscribe to the CFTC & NFA rss feeds that come into my MY Yahoo! page. Cheers!
  • #403
  • Mar 14, 2011 6:42am Mar 14, 2011 6:42am
Quoting Pall
Very interesting thread for newbies. Good that there is a community where I can ask my "easy" question and don't need to create new separate thread.

Can somebody help me to find complete list of NFA regulated brokers.

Thanks in advance.
Most brokers located in US are NFA regulated and they don't accept non-us customers.
Quote
When the trader should go live trading? When you can or have to start trading on live account?

I read a couple threads and find opposite advices: DEMO is nothing else...

I don't like demo. I try everything with nano and micro lots. This is my demo.
  • #404
  • Mar 16, 2011 9:41am Mar 16, 2011 9:41am
Hello, can you help me to find out what is profit factor of the systems and how is it calculated.

Thank you.
  • #405
  • Mar 21, 2011 3:35am Mar 21, 2011 3:35am
Quoting Oliver_Chart
Hello, can you help me to find out what is profit factor of the systems and how is it calculated.

Thank you.
This also interesting for me.
  • #406
  • Mar 22, 2011 10:04am Mar 22, 2011 10:04am
Quoting Pall
This also interesting for me.
Hello, Pall and Oliver. Every strategy or system makes losses sometimes. Profit factor is ratio positive trade to negative trades. Higher profit factor - better system. If profit factor < 1 means that your systems lose more than make.
  • #407
  • Mar 24, 2011 7:59am Mar 24, 2011 7:59am
Hey guys ...

Here is a great webinar from the perspective of your trading system, from a money management approach. We get to wrapped up in what our stop loss is supposed to be, based upon what we are willing to loss ...like in Vegas.

Understanding the simple rules of Money Management - Part II: Position Sizing

You will especially want to play with this easy Equity Calculator which is discussed in the webinar.

I personally play be the Turtle Rules in regard to Volatility Based Position Sizing ...Cheers!
  • #408
  • Mar 25, 2011 4:29am Mar 25, 2011 4:29am
Quoting LocoGuy
Hello, Pall and Oliver. Every strategy or system makes losses sometimes. Profit factor is ratio positive trade to negative trades. Higher profit factor - better system. If profit factor < 1 means that your systems lose more than make.
Thank you Loco.


I also have another question. Where can I find the list of news that make impact on EURUSD and GBPUSD?

P.S I know that FF the best news provider ever, but I'm interesting in a list for a month.
  • #409
  • Mar 26, 2011 6:20am Mar 26, 2011 6:20am
couldn't start a new thread since I'm a new member but, I'm new to fx and just had that ah, ha! moment where I finally figured something out. I've been trading stocks for awhile mostly short-mid time frame swing trades. The good thing about the stock market is that you can base a lot of your trades just on company news i.e. biotech fda approval...go long, fda rejection sell,sell,sell. I never really did any day trading because of the pattern day trader rules.

I'm finding that in forex it's a bit more difficult than that. So I've been doing alot of work studying chart patterns lately and apparently i need more work because i have a bunch of losses in the past few days. It seems like every trade I take turns against me as soon as i take it. for example GBP/USD was trading in a range for awhile so I had been playing the range, next thing i know it nosedives for about 40 pips for no apparent reason.

anyway, I was just reading through some of the various systems posted in that section of the forums and I finally realized that I'm missing something important that will probably make a huge difference in my trading.

Moving averages, thats all, i hadn't paid much attention to them because i was so focused on watching candles. After looking at chart after chart I just realized how much info I could get from just watching what the MA along with the trendlines are telling me.

I think I'll give it a shot this week, keep some tight SL's and shoot for small profits. Hopefully I'll confirm what i'm seeing because I'm starting to get really discouraged by losses.
  • #410
  • Mar 29, 2011 8:50am Mar 29, 2011 8:50am
Quoting gimmie3pips
couldn't start a new thread since I'm a new member but, I'm new to fx and just had that ah, ha! moment where I finally figured something out. I've been trading stocks for awhile mostly short-mid time frame swing trades. The good thing about the stock market is that you can base a lot of your trades just on company news i.e. biotech fda approval...go long, fda rejection sell,sell,sell. I never really did any day trading because of the pattern day trader rules.

I'm finding that in forex it's a bit more difficult than that. So I've been doing alot...
You will be able to start a new thread when you will have around 10 posts .
  • #411
  • Mar 30, 2011 2:50am Mar 30, 2011 2:50am
Quoting Oliver_Chart
Where can I find the list of news that make impact on EURUSD and GBPUSD?
I always use this one here:
http://www.babypips.com/tools/forex-calendar/
you can pick and chose currency pairs and see all the news in your time zone based on the pairs you trade for each day and it tells you how much impact that particular news/announcements will be on a scale from 1-3.

~Tim
  • #412
  • Mar 30, 2011 5:14am Mar 30, 2011 5:14am
Hello, can someone explain me how to use analyze services such as MT4i or MyFXbook? How to upload my trading history there?
  • #413
  • Mar 31, 2011 6:04am Mar 31, 2011 6:04am
Quoting LJohnson
Hello, can someone explain me how to use analyze services such as MT4i or MyFXbook? How to upload my trading history there?
You can ask MT4i and MyFxbook support I can bet, they know answer.
  • #414
  • Mar 31, 2011 7:13am Mar 31, 2011 7:13am
Quoting Oliver_Chart
You can ask MT4i and MyFxbook support I can bet, they know answer.
Oliver, not so long ago you have been also asking some question.


LJohnson. Go to Tools - Options - Publisher in you MT4 and enter login data for you service:


http://img546.imageshack.us/img546/3606/pub1.png
  • #415
  • Mar 31, 2011 7:43am Mar 31, 2011 7:43am
Hi All,

I have a few years of successful Stocks, Options and Futures trading under my belt. I am completely new to the spot FX mkt and was hoping to get some good advice from this thread.

1. I am looking to open a mini account with $2000-$3000 equity to start. Does anyone strongly recommend one broker over another?

2. The trading style that seems to work for me is swing, holding positions for a few days to a week or so. Is this style cohesive with spot FX trading? Any tips for charting or tech. analysis with this style?

3. Any and all other advice would be greatly appreciated. I do have a 9-5, rather 7-5, but I truly enjoy trading and am looking to learn everything I can about the FX mkt. Thanks in advance for your time and thoughts!
  • #416
  • Apr 4, 2011 8:06am Apr 4, 2011 8:06am
Quoting PhilaTr8er
Hi All,

I have a few years of successful Stocks, Options and Futures trading under my belt. I am completely new to the spot FX mkt and was hoping to get some good advice from this thread.

1. I am looking to open a mini account with $2000-$3000 equity to start. Does anyone strongly recommend one broker over another?

2. The trading style that seems to work for me is swing, holding positions for a few days to a week or so. Is this style cohesive with spot FX trading? Any tips for charting or tech. analysis with this style?

3. Any and...

Hello, I would say first and most important this you already did - FF is the best forex forum and you can find answers to any questing here.

I would recommend you to go with Alpari UK or US.

Good luck and welcome to the forex world.
  • #417
  • Apr 5, 2011 3:37am Apr 5, 2011 3:37am
Quoting PhilaTr8er
Hi All,

I have a few years of successful Stocks, Options and Futures trading under my belt. I am completely new to the spot FX mkt and was hoping to get some good advice from this thread.

1. I am looking to open a mini account with $2000-$3000 equity to start. Does anyone strongly recommend one broker over another?

2. The trading style that seems to work for me is swing, holding positions for a few days to a week or so. Is this style cohesive with spot FX trading? Any tips for charting or tech. analysis with this style?

3. Any and all other...
Hello, PhilaTr8er. looks like you already have a lot pf experience in trading. I can recommend you Hot Forex Broker they offer a huge deposit bonus now and their service is alright.
  • #418
  • Apr 5, 2011 4:21am Apr 5, 2011 4:21am
Quoting PhilaTr8er
Hi All,

I have a few years of successful Stocks, Options and Futures trading under my belt. I am completely new to the spot FX mkt and was hoping to get some good advice from this thread.

1. I am looking to open a mini account with $2000-$3000 equity to start. Does anyone strongly recommend one broker over another?

2. The trading style that seems to work for me is swing, holding positions for a few days to a week or so. Is this style cohesive with spot FX trading? Any tips for charting or tech. analysis with this style?

3. Any and all other...
1. I would rec OANDA, that's who I use.

2. I'm still a novice yet to make a profit after almost a year, so no.

3. Def do not give up your day job to trade full time (if that was what you were thinking) until you have been profitable for at least 6 months trading whilst maintaining your 9-5.

Jas
Trading Journal
  • #419
  • Apr 5, 2011 6:01am Apr 5, 2011 6:01am
PhilaTr8er,
FYI, Only 5% Forex traders are profitable. What about stock traders?
  • #420
  • Apr 5, 2011 3:23pm Apr 5, 2011 3:23pm
Thanks to all for your insight. I am currently running two demo accounts; with Forex.com & Alpari.

I am not looking to quit the 9-5, but i am looking for a new challenge and hopefully to make some decent money in time.

Any views on Forex.com? I have been runnning the demo for a month now with good success and no issues - I am not sure if this account is indicative of a live one, but it's pretty good.

Thanks again and any/all advice is always welcome!
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