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  • #141
  • Oct 13, 2014 9:57am Oct 13, 2014 9:57am
hotforex just scammed me!!!!!!!!!!! They closed an open trade right infront of my eyes!!! No shit, i was trading and using a trade manager ea, all of a sudden while im tryna use the ea, they change trade ticket everytime and disable the ea from working, i swear, then i look at my open trade and they closed the trades, a partial of the trades, i was using the sequentialexits ea, wtf!!!!!!!!!!



stay away from hotforex!!!!!!!!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #142
  • Oct 13, 2014 10:14am Oct 13, 2014 10:14am
Quoting Soros
hotforex just scammed me!!!!!!!!!!! They closed an open trade right infront of my eyes!!! No shit, i was trading and using a trade manager ea, all of a sudden while im tryna use the ea, they change trade ticket everytime and disable the ea from working, i swear, then i look at my open trade and they closed the trades, a partial of the trades, i was using the sequentialexits ea, wtf!!!!!!!!!! stay away from hotforex!!!!!!!!
why do you keep account with some unknown brokers?
On my way to financial independence - if others can do it - I can do it
  • #143
  • Oct 13, 2014 10:41am Oct 13, 2014 10:41am
Quoting Soros
hotforex just scammed me!!!!!!!!!!! They closed an open trade right infront of my eyes!!! No shit, i was trading and using a trade manager ea, all of a sudden while im tryna use the ea, they change trade ticket everytime and disable the ea from working, i swear, then i look at my open trade and they closed the trades, a partial of the trades, i was using the sequentialexits ea, wtf!!!!!!!!!! stay away from hotforex!!!!!!!!
They're based in Cyprus man, I can't imagine anything dodgier.
  • #144
  • Oct 13, 2014 10:44am Oct 13, 2014 10:44am
Quoting Soros
been getting my things ready for the Journey, backtested my system, got ready my softwares to do all my complicated calculations, went through my game plan over and over again, my vps is ready for my game plan(my trading is manual), i dont trust my current brokers, 1 i have been using for some time and i realy trust them, have had over $XXXk wth them and they were honest but i dont wana use them for this journey...... So far from my research i came across IBFX,EXNESS brokers that im looking to do business with, im also looking at fxpig and also...
<-- what happened to all your initial research?
  • #145
  • Oct 13, 2014 10:45am Oct 13, 2014 10:45am
Quoting Soros
hotforex just scammed me!!!!!!!!!!! They closed an open trade right infront of my eyes!!! No shit, i was trading and using a trade manager ea, all of a sudden while im tryna use the ea, they change trade ticket everytime and disable the ea from working, i swear, then i look at my open trade and they closed the trades, a partial of the trades, i was using the sequentialexits ea, wtf!!!!!!!!!! stay away from hotforex!!!!!!!!
This is what I meant
  • #146
  • Oct 13, 2014 11:02am Oct 13, 2014 11:02am
project will be with fxcm, hotforex was just for 3 weeks cause i had money there
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #147
  • Oct 13, 2014 11:47am Oct 13, 2014 11:47am
Quoting Custos
{quote} WHEN PEOPLE WRITE IN CAPITAL LETTERS I ALWAYS THINK THEY MUST EITHER BE CRAZY OR TEENAGERS, which one are you? And one question mark is enough. How can you be sure that any of the stated people are millionaires (in forex)? Have you seen an audited account? A little hint about the internet: 99% is scam and bogus. However, I know there are definitely some who made it big, but those are obviously money managers who need the publicity to get more money to manage. Are there any private traders who made it really big? maybe. Everything you said...

Hey Custos,

One of the first things one notices when he trades with brokers, is that the more money you have, the less leverage you're allowed.

So, regarding what you said, is it possible that the reason these Big Fund Managers make so little money is because they can't get so high a leverage on so much money?

In other words, perhaps it's easier to turn 100 dollars into 200 (using, say, leverage of 500:1), than it is to turn 1 billion into 2 billion?

Another thing you said, in the same vain:
"you do realize, if you could pull of a 2% a day consistently over only one year (assuming 52 weeks x 5 trading days) =260 trading days, then you would get a 17,120% return on your money. That's more than what the S&P 500 did over the last 50 years. Good luck with that."

Again, the question is the same: When, say, you're trading stocks with AvaTrade, you're not buying real stocks. (I believe you know the details.) But if you want to buy a large amount of stocks using a large sum of money, then you'll have to buy them at their real value, and then wait for years just so that, say, facebook's stocks rise 1 dollar in value. And buying and selling also won't be as convenient as with these brokers, you won't be able to find buyers at a moment's notice, you'll be paying extra fees, and all those costs that come with 'real' trading.

I use the example of stocks, but it's the same with forex.

So, again, perhaps that is the reason why it's easier to double your money the less you have?

Additionally, these Big Players 'play' on the daily or weekly or even monthly charts. That means that many price fluctuations go unutilized by them. For instance, a 5-minute chart trader will trade the hell out of a daily wick, whereas the daily trader will trade only the bodies (assuming he always exits and enters on the close of the bar). But wicks are about one third or one fourth of the price action on a daily chart. On the monthly chart wicks are sometimes worth 2000 pips! Big Players just don't care for them, they leave these wick-scraps to the small trader!

So there are a few reasons why a trader might be unable to outperform S&P, because the higher you get, the more difficult it is to earn the same percentage.
  • #148
  • Oct 13, 2014 11:48am Oct 13, 2014 11:48am
RE: Millionairres on this blog:

Those who aren't say they are, those who are don't say.
  • #149
  • Oct 13, 2014 11:51am Oct 13, 2014 11:51am
Quoting mmooney
{quote} They're based in Cyprus man, I can't imagine anything dodgier.

Totally true! This is from a person who lives in Cyprus!
  • #150
  • Oct 13, 2014 2:17pm Oct 13, 2014 2:17pm
I like this thread very interesting. I have been trading about 4 1/2 years tried many different strategies been through the robots EA's and just trying to work on consistency. I will post some results of trades I have took this PDF file is of a 3000 dollar demo account for 10 days of trading
Attached File(s)
File Type: pdf EURCAD DetailedStatement 2014.pdf   289 KB | 800 downloads
  • #151
  • Oct 13, 2014 2:23pm Oct 13, 2014 2:23pm
This next PDF file is a continuation of my trading for the next 4 days of trading.
Attached File(s)
File Type: pdf EURCAD DetailedStatement 2 2014.pdf   207 KB | 901 downloads
  • #152
  • Oct 13, 2014 2:57pm Oct 13, 2014 2:57pm
Quoting eaglefaith7
I like this thread very interesting. I have been trading about 4 1/2 years tried many different strategies been through the robots EA's and just trying to work on consistency. I will post some results of trades I have took this PDF file is of a 3000 dollar demo account for 10 days of trading {image}
do you think you would do so fine on real account?
On my way to financial independence - if others can do it - I can do it
  • #153
  • Oct 13, 2014 3:05pm Oct 13, 2014 3:05pm
I'll share my opinion about earning millions on FX - as a newbie I believed it is possible. Now I think it is possible but possibility is equal to winning in lottery. I personally think it is possible to get to few hundred thousands profit and that's where problems will start - mentality, fear, broker against you ;-). I am sure you can improve your life with fx, even live of it but those dreaming of millions can only dream.
Ask yourself why "good traders" write books or sell seminars/webminars? Why do they run blogs, why do fx analists write analysies in stead of partying on the beach in some nice warm country? Because it is easier to live of people's dreams of getting millions in forex rather than earning on this market on its own
As about millionaires who got rich in fx? there probably are a few, but they won't show off with it. Why should they?
On my way to financial independence - if others can do it - I can do it
  • #154
  • Oct 13, 2014 3:18pm Oct 13, 2014 3:18pm
Never said how good I would do live. Those are your words, all I did was post my demo on what I have done and said I was working on consistency. There was a time I could not make a 100 dollars but I have come a long way.
  • #155
  • Oct 13, 2014 3:19pm Oct 13, 2014 3:19pm
Quoting eaglefaith7
Never said how good I would do live. Those are your words, all I did was post my demo on what I have done and said I was working on consistency. There was a time I could not make a 100 dollars but I have come a long way.
I think you should write down all the rules you used for the demo and then open live account with small balance and try live. Good luck
On my way to financial independence - if others can do it - I can do it
  • #156
  • Oct 13, 2014 7:18pm Oct 13, 2014 7:18pm
Quoting Soros
Sooooo my scripts work work!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ok guys, i will post my trading results here untill month end, Then month end I will start an acc with FXCM and also open a new thread for the journey!, please guys subscribe to this thread and keep watching it untill month end and then we start a new thread clean... i will post trades here, P/L and we will prove the Nay sayers wrong once and for all, we have 3weeks till moth end, Lets rock this 1 guys!!!!! SHOULD I PUT A TRADE EXPLORER HERE OR ON THE 2ND THREAD???

Here!

And why start a new thread?
  • #157
  • Oct 14, 2014 2:56am Oct 14, 2014 2:56am
Quoting Soros
project will be with fxcm, hotforex was just for 3 weeks cause i had money there
Have you contacted their CS about your case?
  • #158
  • Oct 14, 2014 3:42am Oct 14, 2014 3:42am
Quoting smash1820
{quote} Yes, I am a programmer. I used to program in VBA (Visual Basic for Applications) at my last job at Mercer Investment Consulting. Since then, I have resigned in order to pursue trading, however, I am looking to get back into the workforce once again. I taught myself C++ over the years, in particular so that I could program in MQL4, and it has been nice because MQL is such a great language to work with. One of the last things I would like to do for my indicators/EAs, though, is to export the historical MT4 data to Microsoft Excel, so I can...
Oh cool.. No I am program illiterate/.
  • #159
  • Oct 14, 2014 3:55am Oct 14, 2014 3:55am
Take 1 lousy dollar, open an account with OANDA bucket shop...where you can trade free from lots..
Risk 5% of initial capital per trade, yes that`s 5 lousy cents.
If you make it to double and compound every month, it makes about 16 million in 2 years....
Yes, starting with 1 $.
On the other hand, if you don´t even make it to keep that 1 $ alive, why risk any more?

Here´s the enemy: ( I just read it in Bloomberg):
The U.K.’s Financial Conduct Authority was the first agency to say it’s looking into allegations that dealers shared information on client orders with counterparts at other banks and timed trades to influence prices. Since then, authorities on three continents have started looking into claims of rate-rigging, how the foreign-exchange market functions and firms’ roles in currency markets. No one has been accused of wrongdoing, and none of the reviews has been completed.
  • #160
  • Oct 14, 2014 4:09am Oct 14, 2014 4:09am
i do believe it is possible to make £1m from a peanut sized account. as long as you are patient and that goes for the winners (you get arrogant yes you do) and losers (that is panicking when it has gone wrong and putting on a reverse trade) and unemotional then you can turn it into a lucrative business.
i want 5 pips a trade. apply those rules. i will get to £1m but it will take me 4 years. i really can wait.
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