Forex for Dummies

[>Apocalypto<]

first off i blew 2 accounts trying to be a fundamentalist with poor cash management.

then i started again with some demo accounts, which i traded for the best part of a year; trying various systems people suggested on different forums.

the main thing i got from them was learning about all the main indicators.

then i started using two simple indicators (MA+stochastic) which worked for me and developed a plan with 2 rules for entry and 1 rule for exit.

once i thought it would work, i funded my third $1000 account. from that initial account im now up to $350k in working capital in about 18 months.

at 3500% in 18 months mate you out performed every major fund.

why dont you work for a fund you would be head trader on 2 million+ a year in no time.

I am very impressed also doing that with out taking a 100K lot.......

(by working cap u mean your free cash or what u can trade to?)

WOW

 

[lesm]

S&R is coded into pattern explorer for AB Lesm, have you used Pattern Explorer? I think you can view the coding too.

CanOz

Hi Can,

No, haven't used Pattern Explorer, but from memory AB provides the ability to cross-reference charts. Will need to read the relevant section of the manual again.

Have both AB and NT and for some things prefer NT and others AB. Not sure, but MT4 may be able to do this as well. It will be constrained by platform functionality/capability though.

Cheers.

 

[lesm]

that mag would be good if it wasnt 2/3rds advertisements.

Agree about the ads, but then that's what probably pays to make it free. Some of the stats are useful and cheaper than doing it yourself.

Cheers.

 

[Stormin_Norman]

at 3500% in 18 months mate you out performed every major fund.

why dont you work for a fund you would be head trader on 2 million+ a year in no time.

I am very impressed also doing that with out taking a 100K lot.......

(by working cap u mean your free cash or what u can trade to?)

WOW

if u know someone at a major fund who'd like to pay me 2 mil without a non compete clause let them know where they can find me

i plan to do my own fund once i get some more time under my belt. this last year with the long massive moves might not be sustainable.

oil and commodities going through the roof, then crashing down again.

the yen rising like a cake.

the aussie tanking with commodities.

all these were massive movements which made a lot of money. i dont think thatll happen every year.

i take 100k+ lots, just do it on a mini account (ie 10 mini contracts).

and my working capital i mean my money in the bank. atm i only have $5k in 2 brokers having cleared it all out at the end of the year.

i will run those at higher risk however, knowing i can top them up if i need to. im running my trade loss figures as if theyre 20k accounts, not 5k.

 

[CanOz]

Stopped out of my 3 duck trade. But moved the stop and cut the loss by half before it got hit. Now to wait for another....perhaps i should obey the first rule and only trade from London on?

Cheers,


CnaOz

 

[Stormin_Norman]

short cable. NOW!

 

[BentRod]

at 3500% in 18 months mate you out performed every major fund.

Its 35,000% isn't it?

Even better than Zangers world record if that's the case

Great effort regardless.

 

[Stormin_Norman]

Its 35,000% isn't it?

Even better than Zangers world record if that's the case

Great effort regardless.

its a world record?! where do i go to claim it?

surely not?

ive seen people turn $300 into $100,000.

hope some of u took that long on the USD which just came through.

 

[>Apocalypto<]

short cable. NOW!

took the eur/usd out with 24

 

[nunthewiser]

intresting stuff i must say

 

[Stormin_Norman]

took the eur/usd out with 24

+$2000 in record time.

what caused that? anyone know?

bank of japan playing silly buggars?

 

[tech/a]

Hmmm.

Spoke to soon.

What started out as very informative for us beginners has become a trading blah blah blog.
I'll start version 2 so you guys have somewhere to chat!

Thanks for the relevent info contributed for us Dummies.
I wasn't expecting an exhibition of Dummy type posts.
No I havent spat the Dummy

 

[>Apocalypto<]

+$2000 in record time.

what caused that? anyone know?

bank of japan playing silly buggars?

no idea,

I looked at the news could;d not see anything that really jumped out

E/$ still coming off

 

[>Apocalypto<]

if u know someone at a major fund who'd like to pay me 2 mil without a non compete clause let them know where they can find me

i plan to do my own fund once i get some more time under my belt. this last year with the long massive moves might not be sustainable.

oil and commodities going through the roof, then crashing down again.

the yen rising like a cake.

the aussie tanking with commodities.

all these were massive movements which made a lot of money. i dont think thatll happen every year.

i take 100k+ lots, just do it on a mini account (ie 10 mini contracts).

and my working capital i mean my money in the bank. atm i only have $5k in 2 brokers having cleared it all out at the end of the year.

i will run those at higher risk however, knowing i can top them up if i need to. im running my trade loss figures as if theyre 20k accounts, not 5k.

ring around show em your trading statements they will pic k u up. you are like the goose that lays golden eggs!

I thought making 130 - 200 pips a week was doing good! owch!

 

[>Apocalypto<]

norm,

i saw your chart what ma do u use, if u don't mind me asking?

 

[Stormin_Norman]

Hmmm.

Spoke to soon.

What started out as very informative for us beginners has become a trading blah blah blog.
I'll start version 2 so you guys have somewhere to chat!

Thanks for the relevent info contributed for us Dummies.
I wasn't expecting an exhibition of Dummy type posts.
No I havent spat the Dummy

sorry mate. one thing leads to another. feel free to start new threads with questions. im sure we'll try to answer them before heading off on our own tangents.

 

[Stormin_Norman]

norm,

i saw your chart what ma do u use, if u don't mind me asking?

every variable i use has to be a fib number.

13.3.5 on the stoch.

55 MA on the graph.

 

[Cartman]

Hmmm.

Spoke to soon.

What started out as very informative for us beginners has become a trading blah blah blog.
I'll start version 2 so you guys have somewhere to chat!

Thanks for the relevent info contributed for us Dummies.
I wasn't expecting an exhibition of Dummy type posts.
No I havent spat the Dummy

u continue to confuse me Tech ---- u have derived nothing from the last 2 dozen or so posts??

 

[>Apocalypto<]

every variable i use has to be a fib number.

13.3.5 on the stoch.

55 MA on the graph.

i am similer in that way my ma's are just about all 8 12 89

when do u do most your trading? I am a UK time 7am to 17pm. Never look at Asia.

Norm not trying to pick at u but I am just trying to get an idea of how u did the trading u say. what role does the MA play in the method? you take long at over sold off or above the MA reverse for short? I just see so many false hits on the stoch signals. also u use any MM at all? I risk 1% and take profit is set by the current 15min bar range.
you enter and flow with it till it hits ma or stoch signals a reverse?

 

[Stormin_Norman]

i trade whenever im awake and see a set up.