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anyone need help?

  • #361
  • Jan 30, 2016 10:10am Jan 30, 2016 10:10am
Quoting Mbt
Hello i love the idea of this thread because I'm also a newbie(started few months ago). I have some problems with the market because i go to work and can only trade after 15.30 gmt. I know it's not that late but often i have the feeling that the market is in a range. I've tried some systems like the genesis and the symphonie matrix but they all recommend trading this methods after london open. So I'm searching for a good method to trade after 15.30 gmt. A few days ago I downloaded the mt4 app for my phone but the problem is that there is no possibility...
If you talk about intraday trading then yes its better to trade during London session as this time we get best liquidity on market. I can suggest you to shift into long-term positions, take advantage of fundamental analysis so you don't need to care about intraday liquidity, time for entries, spreads, etc.
  • #362
  • Feb 4, 2016 1:41am Feb 4, 2016 1:41am
Hi All, I need help!

I have assigned my funds to an 'expert' trader who claimed to have more than 10 years of trading experience.
However the recent detailed report results made me very worried, can any kind soul please advice me based on the results? (2 weeks ago and today)

21/1/16
Closed trades :
Commission : -136 530.00 Swap : -4 926.71 Profit : 134 045.95
Closed P/L : -7 410.76
Open trades :
Commission : -4 350.00 Swap : -1 537.61 Profit : -161 457.00
Floating P/L : -167 344.61
lgd opened position : -44 lots & +43 lots
Absolute Drawdown: 11 056.50 Maximal Drawdown: 100 370.33 (90.81%) Relative Drawdown: 90.81% (100 370.33)

4/2/16
Closed trades :
Commission : -182 880.00 Swap : -6 353.34 Profit : 142 716.51
Closed P/L : -46 516.83
Open trades :
Commission : -6 900.00 Swap : -3 526.30 Profit : -304 476.00
Floating P/L : -314 902.30
lgd opened position : -69 lots & +69 lots
Absolute Drawdown: 46 516.83 Maximal Drawdown: 137 246.05 (124.17%) Relative Drawdown: 124.17% (137 246.05)

1) From what I understand from news this 2 weeks, gold has been bullish both technical and fundamental. But he his trades are mostly in favour of shorting gold.

2) He has been telling me that his trading strategy is safe and he will hedge and maintain minimal risk, however I do not think this is what I see from the report. What does the maximal drawdown of 124.17% mean?

3) Why would he want to "hedge" by buying additional long positions instead of closing his opened short positions if he feels that market is not in his favour? Is it wise to do so? I dont understand where is there a need for extra swap and commission charges incurred.

4) We have a contract that indicates if he made a loss of 10%, he would stop all trading and topup the trading account back to capital value with his commission. When I asked him for the reason on the widening of negative floating P/L, he told me that it is normal, and paper loss is not considered a loss.

5) In a period of 2 weeks my floating loss has doubled, can anyone advice what is the best way out with this investment?
Should I remove the remaining capital in the account before the damage gets bigger?
I would appreciate it if any kind soul can give me your advice based on the reports. Thank You!

Sincerely,
Sherman
  • #363
  • Feb 6, 2016 1:51am Feb 6, 2016 1:51am
Quoting ShermanLiew
Hi All, I need help! I have assigned my funds to an 'expert' trader who claimed to have more than 10 years of trading experience. However the recent detailed report results made me very worried, can any kind soul please advice me based on the results? (2 weeks ago and today) 21/1/16 Closed trades : Commission : -136 530.00 Swap : -4 926.71 Profit : 134 045.95 Closed P/L : -7 410.76 Open trades : Commission : -4 350.00 Swap : -1 537.61 Profit : -161 457.00 Floating P/L : -167 344.61 lgd opened position : -44 lots & +43 lots Absolute Drawdown:...
Hi, brother Sherman....what detail contrac with him....?About gain/mounth...?if u get gain in max 20% per mounth..Should still with low risk...if compare with balance....u have contrac if loss more 10% u will get back u money...that good.....Normal with the DD u say....i'm surprize if this still normal...About commision....u trader work with broker.....?More high commission from u...trader also get more money from u....
Regard, Ding Dong
  • #364
  • Feb 6, 2016 5:30pm Feb 6, 2016 5:30pm
Hello all,

Im a newbie trader. Wanted to find out if there was a simple EA already made for the partial system İ will explain below. Forgive me if i'm posting in the wrong place.

İ'm currently using a simple strategy using price action and swing trades. İ would like to supplement this system with a simple EA which is sort of Hedging.

The EA :

1) will automatically Open a Buy or Sell Trade (whichever is specified in the EA Options) at a specific price
2) will close at break even or
3) will close at Profit Target
4) will reopen continuously until switched off and will never open more than 1 trade at a time.

İ have drawn a simple diagram below to help.

Thanks alot

Attached Image
  • #365
  • Feb 13, 2016 3:38pm Feb 13, 2016 3:38pm
Hi all / Renasdad,

Thank you for this thread . I'm unable to post my question elsewhere as a junior member, so I hope to find some help here.

I'm trying to add a linedot indicator to mt4, hopefully anybody can point me in the direction of an indicator or work around.

Linedot: creates dot at closing price for every 30 minutes, so a dot at 13:00 , 13:30 , 14:00, etc
then uses a line to connect the dots

notes: basicly a line that connects 30 minute closing rates
  • #366
  • Feb 13, 2016 6:03pm Feb 13, 2016 6:03pm
I am new to live trading and have been reading a lot about divergence. Is there a way to overlay a line chart on top of an indicator like RSI, OSMA, ASI, MACD, etc? I figured this would be a great way to spot divergence, that is if I am understanding the concept correctly.​
  • #367
  • Feb 27, 2016 12:28pm Feb 27, 2016 12:28pm
Quoting renasdad
I have a feeling this is a thread noone has posted before. I love helping people. I know what it is like to not have a clue when it comes to know where to start with this forex jargen. If there is anyone that has questions that they feel are too stupid to ask publically, you can PM me. If there is anything that doesn't make sense to you, ask. If I don't know the answer, I will do my best to find it. I come here everyday looking for the "newbie" questions to find someone already ansered them. I love helping people. There have been so many people...
Hallo Renasdad, i am a newbie, i would like to ask about a script. i am looking for a script to make entry with automatic TP and SL.For example, when i buy EUR/USD = 1.5000, my TP and SL directly set. TP 1.5020 and SL 1.4980. hopefully you may help me. thank you very much
  • #368
  • Feb 28, 2016 4:15pm Feb 28, 2016 4:15pm
Hello!

My names Alex I'm 21 years old and from London and I am a learning how to trade forex,

I've had this account for quite a while but this is my very first post because I want to start getting involved in discussions and contribute whatever I can.

I am currently making a channel based trading strategy and I am also aiming to keep indicators to a minimum because I prefer simplicity.

Is there any guidance that you would like to share?

thanks,

Al
Freedom is an asset.
  • #369
  • Mar 3, 2016 5:19am Mar 3, 2016 5:19am
Hello just a simple question. How can I send pictures in a pm to another member?
  • #370
  • Mar 3, 2016 11:26am Mar 3, 2016 11:26am
The moderator keeps refusing my posts, so I have no expectations this will be seen, but I NEED HELP!!!

I am a first time poster, so I'm sorry in advance if this isn't relevant to this thread, but I have a very simple trading strategy that I would like to turn into an EA but can't find anything that is similar. The system is this:

I place a buy and a sell trade. The price moves into profit of n pips on one side or the other. I then put a stop loss at n/2, and place another trade in the winning direction. When this moves into a profit of n pips, I move its stop to n/2, and move the first stop to half way between the open and current price (n pips), close the losing trade, and open two trades one in each direction.

This is slow and steady strategy, but it consistently makes profits, but it's time consuming. I figure it should be an easy job to turn it into an EA, if there's nothing like that out there (and I haven't found it).

Any help appreciated
  • #371
  • Mar 6, 2016 1:04pm Mar 6, 2016 1:04pm
Quoting TheGreatMilenko
Not being rude or anything Renasdad, but genuine question. What qualifies you to be offering other people help with fx trading? Thanks in advance.
Back when I realized I wanted to be a trader 12 or so years ago, I was overwhelmed with everything I was learning. There was unlimited information out there. I spent 15-20 hrs a day searching online and reading everything I could get my hands on because I knew I could get this trading thing figured out. When I became a member here I was a rookie but had the basics figured out. Then I started asking posting as many questions as I could to get answers and help. The guys/gals back then really helped me and took lots of time teaching me. All the information I read and answers I had gotten answered, I wanted to pass that on to others. I didn't start this thread to tell people when to open trades or when to close them. I just want to help others.
JOHN 3:16
  • #372
  • Mar 6, 2016 1:09pm Mar 6, 2016 1:09pm
Quoting AlexanderE
Hello! My names Alex I'm 21 years old and from London and I am a learning how to trade forex, I've had this account for quite a while but this is my very first post because I want to start getting involved in discussions and contribute whatever I can. I am currently making a channel based trading strategy and I am also aiming to keep indicators to a minimum because I prefer simplicity. Is there any guidance that you would like to share? thanks, Al
Welcome Alex...I've learned, at least with my way of trading that less indicators are better for me. The cleaner the chart is, its easier to see what's going on. ​
JOHN 3:16
  • #373
  • Mar 7, 2016 9:43am Mar 7, 2016 9:43am
Hi, thanks for starting this thread. Really need advice.

I have been trading for 8 months and expericd a few big losses and numerous small losses.

I learned to limit the big loss by using stop loss . But I found that I intented to move my stop loss close to the entry price too soon that the trades always been closed by a price fluctuation despit I was right about the trend from the beginning. I think I become nevous due to the big losses and couldn't help frequently checking my account ( almost every few minutes if I have the chance ) and try to minimise the losses by moving the stop loss which leads to a small profit taking.

I understand that keep the profit run is the key to increase the account. taking small profit even without big losses will eventually kill the account.

Is there a cure?

thank you.
  • #374
  • Mar 7, 2016 11:54am Mar 7, 2016 11:54am
Hello
Thanks for this thread. I am very new to this and I have been reading so much but feel Im going in a million different directions. I have been studying candlestick patterns thats how basic I am at this point which I feel good with at the moment =) . I have been trading some with 60 sec binary such as 5 decimal etc and learning quickly this is not where I need to be to make a living with this. At the moment I feel so overwhelmed but I am determined to learn so as VERY new beginner can you put me in the right direction or offer any advice? Even if its I should throw in the towel now lol

Thanks in advance!
  • #375
  • Mar 7, 2016 1:53pm Mar 7, 2016 1:53pm
Jenn, do the exercises I posted a few pages back.

Do 50-100 charts, different markets, different timeframes.

What happens before the big moves in any market?

What happens after a big move?

Certain patterns tend to setup in this game time and time again, but they're not always easy to spot, but a lot of them they are there...
Road To Wisdom? To err and err and err again, but less and less and less...
  • #376
  • Mar 7, 2016 2:35pm Mar 7, 2016 2:35pm
Quoting renasdad
{quote} Back when I realized I wanted to be a trader 12 or so years ago, I was overwhelmed with everything I was learning. There was unlimited information out there. I spent 15-20 hrs a day searching online and reading everything I could get my hands on because I knew I could get this trading thing figured out. When I became a member here I was a rookie but had the basics figured out. Then I started asking posting as many questions as I could to get answers and help. The guys/gals back then really helped me and took lots of time teaching me. All...
Fair enough. Thank you for taking the time to reply.
  • #377
  • Mar 7, 2016 3:46pm Mar 7, 2016 3:46pm
Thanks Calculus. Will definitely study the charts more!!
  • #378
  • Mar 7, 2016 6:46pm Mar 7, 2016 6:46pm
Quoting Jenn4rex
Hello Thanks for this thread. I am very new to this and I have been reading so much but feel Im going in a million different directions. I have been studying candlestick patterns thats how basic I am at this point which I feel good with at the moment =) . I have been trading some with 60 sec binary such as 5 decimal etc and learning quickly this is not where I need to be to make a living with this. At the moment I feel so overwhelmed but I am determined to learn so as VERY new beginner can you put me in the right direction or offer any advice? Even...
Hey Jenn... I totally understand how you feel by being overwhelmed with trying to learn how to trade. There is basically unlimited information out there especially now with how the internet works, and at least 80% of the info is garbage. Don't rush yourself thinking you will be able to master it over night. ​

I tried using indicators and EAs and using all the fancy stuff I could on my charts to master trading. There are some people that are able to use indicators and other things on their charts to make money at this. After trying this indicator and adding that indicator to a chart then deleting them to try to use other indicators, I started looking at price action and patterns. I read and studied everything I could about it. I got to the point where I deleted all the indicators off my charts and only watch price action. So when you say you are so basic because you are only studying candlestick patterns, maybe that's the best thing you could be doing I've been trading now for about 12 years. I don't any indicators, maybe a trend line now and then with a little Fibonacci, but that's it. Since I don't have anything on my charts and I watch them quite a bit, I am still learning candlesticks and price action. Practice makes perfect...
JOHN 3:16
  • #379
  • Mar 7, 2016 7:02pm Mar 7, 2016 7:02pm
Quoting chriseet
Hi, thanks for starting this thread. Really need advice. I have been trading for 8 months and expericd a few big losses and numerous small losses. I learned to limit the big loss by using stop loss . But I found that I intented to move my stop loss close to the entry price too soon that the trades always been closed by a price fluctuation despit I was right about the trend from the beginning. I think I become nevous due to the big losses and couldn't help frequently checking my account ( almost every few minutes if I have the chance ) and try to...
This sound exactly like how I felt in the past. I know how you feel and it sucks. I could write a book about it but don't think I have enough time to. The book I love the most is 'Reminiscences of a Stock Operator". I hate reading so I have the book on cd and listen to it quite often even if I'm not totally focused on it and doing other things but it is still getting in my brain kind of like the dude that wants to quit smoking buys a cd and listens to it when he's sleeping​ lol.

One key which took me a very long time to understand is let the winners run and cut your losses short. I know how hard it is to understand but that is the key. If you can do that, it will really help you especially if you can figure out which way price should go and open your trades at the right time.

By reading what you said when you constantly want to check your trade you have open, could it be due to opening too big of a position? When you want to open a trade, try opening one that is half the size that you want to open.
JOHN 3:16
  • #380
  • Mar 7, 2016 7:03pm Mar 7, 2016 7:03pm
Quoting TheGreatMilenko
{quote} Fair enough. Thank you for taking the time to reply.
No problem dude, thank you for asking instead of just assuming
JOHN 3:16
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