Thread: Making a living out of forex/hyip's or both?

pablo,

I am definitely interested;I've studied trading to a certain extent,even demo traded at one time,but didn't have the fundamentals down-pat.If you have a system that produces results,I want in.
I'll study a few books,get the VTTrader platform,and see how it pans out.Any tips would be greatly appreciated.I'll leave my e-mail addy in my profile if you prefer to communicate in that fashion.

Thanks,Dude.

Count the Adster in pablo.

strange http://www.cmsfx.com/ look very much like http://www.fxcm.com .also a forex website

Originally Posted by Wolf

Originally Posted by pablo

I personally will be aiming for 100-200%/month

Dream on.....

Originally Posted by pablo

i can do trading and webdesign/programming. Anyone up for it?

NO!

it is a solid proof in http://www.fxcm.com that the guy earn 800%.

There is a statistic proof on the june winner who have a 400% gain.

100-200% mabe if you are on lucky month.But not every month.
As if someone can do that every month he would have be richer than bill gate.or reported on the news paper. And forex you can earn 100% a month so do you can loss 99% of your money too on that month :lol:

Yeah the difference is the platform vttrader allows you to program your own trading system/indicators - robots that trade for you and give you indications. I started out on the fxcm platform too its ok, but i would recommend the other one by far, much better charting too. Get in there guys and girls - 'just do it' - spend a week getting used to it , just playing, win some lose (a lot probably!). If after that you have a thirst, time to start reading i reckon. Ok its bedtime for me.. happy tradings.

ancient - thats a good point, you can and will lose money at times. How you deal with that is of the greatest importance. This is not for the faint-hearted or the emotional people at all. If you are like that at all and cannot be cool and logical, please do not waste your time with this.

Hello Pablo,

My wife and I have been trying out FX trading (demo) the last 3-4 months, using a manual system we purchased. We have mainly used VT Trader, although the demo version is a bit unstable, I think it's quite good. I have dabbled a little with the programming features, since I'm a SW engineer and couldn't keep my hands off.
From this system we learned many valuable things, among them: pivot points (his own proprietary in addition to the published) and how to determine when the smart money and dumb money are in 100% disagreement, meaning the market is setup for a big movement. This guy accurately predicted the huge gain on the Euro starting in mid 2003 that lasted about 6 months, and showed in the course how amazingly easy it was.

We would be very interested to evaluate your system on a demo basis and give you regular feedback, either here on the forum or privately whichever you want.

A few questions:

1. What is the smallest time scale you found works with your system? We usually use 15 minute charts, using 1 hour and 5 minute to confirm.

2. Does your system depend on lagging indicators to pull the trigger?

3. Does your system predict target prices, so that reward/risk ratio limit can be set, meaning the trigger won't be pulled if r/r ratio is too low?

4. Does the system scan the available currency pairs for legible setups, or is that a manual process?

5. Can the system trade multiple pairs in parallell?

6. How does the system determine stop level? I was taught to put the stop on the other side of the event that caused you to pull the trigger in the first place, meaning a case-by-case determination of stop.

7. Other trade/risk management features I forgot to ask about that you would love to tell us about.

8. What is the average win/loss ratio for your system per currency pair? The system we bought promised a 70% win/loss rate, but we're not quite there yet. :?

Regards
ZPE

hi zpe,

thanks for all the thoughtful questions. I just got home, its late and i dont have time to go through them in great detail, just checking in. I wil post quick responses and get back with more tomorrow. This is starting to look like my day job, ie software bug/request lists...!

. What is the smallest time scale you found works with your system? We usually use 15 minute charts, using 1 hour and 5 minute to confirm.

15minute is the best but can tune either way a little bit. i am trading primarily eur/usd currently, as best spread. Not limited to any market though.

2. Does your system depend on lagging indicators to pull the trigger?

Yes it does. Unless you code an entire system with the API (phase 2 :D )you do not know the price you bought at, your a/c balance, so you have limited information.

3. Does your system predict target prices, so that reward/risk ratio limit can be set, meaning the trigger won't be pulled if r/r ratio is too low?

Impossible because of point 2 - you dont know what price you bought at. I wish i knew, then i would be able to add a lot more to it. Helpful suggestion: write a trading system and you quickly learn what variables you can access and what you cant - right now there are some checks and balances i would like to add, but i am intervening to simulate that where i can. I trust the system to open more than close positions.

4. Does the system scan the available currency pairs for legible setups, or is that a manual process?

Manual. You can run the system on multiple charts simultaneously - but i overview the system and look for target markets. I plan to add in a check to avoid sideways markets.. but need to work out what the indicator is for that - study needed :idea: . Another area that can be refined but low priority.


5. Can the system trade multiple pairs in parallell?

Yes, no limit, down to CPU/monitors.

6. How does the system determine stop level? I was taught to put the stop on the other side of the event that caused you to pull the trigger in the first place, meaning a case-by-case determination of stop.

Basically its a reverse medium term trend along with a few other safety conditions - i prefer it to maintain positions until trend changes as you lose a lot of gains otherwise.

7. Other trade/risk management features I forgot to ask about that you would love to tell us about.

Hmmm... yes a lot sorry no time right now we need our own forum really.

8. What is the average win/loss ratio for your system per currency pair? The system we bought promised a 70% win/loss rate, but we're not quite there yet.

Too early to really evaluate that statistically, but mine is setup for safety/surety, i estimate around 80%. Any system is good for certain markets. Learn what they are and use the right system for the right market. I want this system to detect when the market is not suitable and not trade or switch to another system... and so it evolves.

Also - I tend to oversee a few hours a day and put in stops/limits, whilst i am nursing the system in. So far it is stable profitable, cautious, and i am happy. Hope the above answers help.


System just predicted trend reversal and opened a position.... will see how it goes.

Originally Posted by Pablo

This is starting to look like my day job, ie software bug/request lists...!

Well, I'm looking for a day job as well.
Actually, if you are interested I can try make an installwizard for your package to lessen some of the burden. Not sure if it will work, but I can give it a shot.

Thank's for getting back so quickly. Looking forward to try your system.
ZPE

:D :D me too me too me too :D :D