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- 14 June 2007
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Thanks mate. Will have a look at those "Dummy/Idiot" books. That will be an auspicious start.
I learned most from having a project in my mind. You start working on it, and each time you come across a hurdle you go out and find the knowledge required to get over the hurdle or solve the problem. You could, for example, start learning a language by writing (over time) the automated trading system interfacing MS with IB TWS through their API. You might not know how to go about it right away, but over time, with some dedication, study and google, you should end up with a working product. Programming is harder to learn if you don't have an objective in mind.
I have done my time working... now I just study and trade. We take at least three months off each year to travel; this year we have several shorter trips planned, but we still envisage travelling for at least three or four months. Of course, if we get contracts then we might have to curtail our holidays somewhat, but then again we don't accept every contract that comes our way. Fortunately, we can pick and choose what suits us best each time.
As for trading fx: Last year I was working with IBFX, but I have today opened an account with GO Markets in Melbourne. I have several expert advisors that work with varying degrees of success. I believe the key to surviving in the fx market (and indeed any market) is good risk management and trade management. If you have these things squared away, you could trade by throwing darts at the chart and still make money; I believe specific entries and exits are secondary to the management skills.
A bit of luck also helps. (I recently read Nassim Nicholas Taleb:- Fooled by Randomness, The Hidden Role of Chance in Life and in the Markets. I thoroughly recommend this book to everyone.) I have my lucky EA, that if you are VERY aware that it is possible for the entire account to be wiped out in a single session, you can make a few dollars relatively easily (or lose the lot!)
I hope the new broker works as well for me as the old? I will be starting from scratch again, with a small test account. If the broker performs as expected, I shall increase the account; but only time will tell.
Thanks for the infor
Now, what is with changing from IBFX ??? I have read so many bad comments about it... the reason I am tyring their demo is because my brother overseas is demoing an EA and thought i might want to do the same ... :d two is better than one hehehe
Oanda demo, I found something funny. Their trade information changes in one of the column. Normally it shows like 50 bucks now it shows 0.0050 or something like that ?? what is that ???
I am up 290 in profit hehehe :d not much but i am still observing system to work on ....
Now, what is with changing from IBFX ??? I have read so many bad comments about it... the reason I am tyring their demo is because my brother overseas is demoing an EA and thought i might want to do the same ... :d two is better than one hehehe
Not that you wont learn from the "Dummies" series, but I think the "Teach Yourself C++ in 24 Hours" from SAMS publishing (http://vig.pearsoned.com/store/product/1,1207,store-15080_id-4230_isbn-0672329417,00.html) or the Wrox Press books (http://www.wrox.com/WileyCDA/WroxTi...nning-Visual-C-2008.productCd-0470225904.html) are the better ones to learn from, and they also provide a handy reference for later.
wabbit
i dont know about others, but i never have had a problem with IBFX. always paid, never had any major problems with slippage or stop hunting.
only reason i changed was because gomarkets were australian. i am running my EAs on both system simultaneously to spot any differences, if none ill shift all my Ea funds across.
IBFX arent the best broker, but i did my research and couldnt find any better MT4 retail broker.
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