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

I trade with FXCM and use software called 4xmadeeasy. It basically does about 1200 calculations per second analyzing the buying and selling in the forex market. It can also be set to your trading style. I am currently averaging 7-8 winnig trades out of 10 trades. That is an awsome average for forex trading.

an average trade for me last 4-5 hours and bring me a profit of 250-500 Dollars per Lot Traded. I am trading on a standard account (100K) so if you started with a mini and got similar results you would make 1/10th of that on average or 25-50 Dollars per lot traded.

The website for the softawre is: http://www.4xmadeeasy.com

The company that makes this sofware is based out of Dallas TX and makes software for options, commodities, and stocks as well. They also have Awsome Training and their own TV Channel called TTV on Dish Network. You can watch them on live TV 11 hours per day and trade right along with them in real time in the markets. The software is not cheap, but if you get it and go through their training you can make that money back pretty quickly.

My Advice is to use a demo account until you show a consistant profit for at least 3 months in a row before going with a live account and to always used Stops to protect your loses and trail your stops to lock in profit. Also to plan your trade and trade your plan, have a daily realistic goal and once that goal is reached get out of the trade and quit for the day.

My goal is 25-50 PIPS per day per lot traded. This is very easy to achieve and once my account is up high enough to where I am able to trade 10 Lots at a time I can average 2500- 5000 Dollars per day pretty realistically and easly. I hope this helps.

Sincerely,
Scott Davies
Davies Enterprises

pablo, would you be interested in opening a signal service? You could email updates several times a day on what to trade, when to get in and when to get out etc. It wouldn't be an exact science but I would be interested in trying your picks out.

hi this is pablo in work mode.

Blazer sorry I cant do a signal service i would have to get paid to do that - i do this professionally for a client, and they make a good living off it. If i am trading and on the forum we can post tips on there though. Look at that euro trend on the 15 min chart... wow i cant wait to get home and see how much money is in my a/c ... http://www.dailyfx.com/FinanceChart.html

Cashprofits i checked out that system - its great for beginners and experienced alike it really does simplify things. I read the book "forex made EASY" (by a guy named dicks so when i walk around it looks like im carrying a book called EASY dicks which is not good. Anyway i digress....) and that was the guy who wrote this system, and he knows his stuff. I would love to try it out, but you have to shell out 4k to use the system right? Im glad to hear you are making money on it. Definitely a chicken and the egg situation - until people know they will make money on it they are unlikely to invest that amount, so therefore will never know either way.

Personally i am a bit of a geek so i am happy as hell writing my own system, and the pablo trading machine v2 is going to get started this weekend as i learn how to use the API along with the lessons learned from how my exisitng system is trading. But not everyone has the geek gene, and for most of you, having the green and red buttons and it all worked out for you would be brilliant - imagine it being like a slot machine where the odds are in your favour!!!

I am curious about how this system operates;
Questions: Do you have to click anything to make the calls or is it made for you, or an optional automatic mode? How long have you been trading with it, and what kinds of markets is it good in?

To all those pm'ed asking about the trading system, all i can say is you need to study... a lot. Look at the charts, get your indicators on and find the patterns. At this point i only share the trading system with those that are able to understand it and can write their own too. Its not guaranteed success unless you know how it works and how to modify the code as you need. Because of this i am scared to pass it on to those with little experience in this area, as i then become/feel liable for this black box. Thats not how it works. Its like i made a superfast sports car, and you had a naff car, but you wanted to upgrade. So i came and put my engine in your car. Now it flies, you are over the moon. But you never learnt how to maintain or even drive a supercar. Next thing i hear you killed yourself going too fast. I now wish i hadnt helped you. There are no guarantees unless you know when to use it and when not.

Having said all that (and i had to say it), if you study, trade a few hours a day for a few weeks, and have ideas for systems, i will happily implement them for you. Tts not easy, but if it was ... where would the fun be? This is a better way to go - if people suggest indicators and are truly interested i can help them program it. If you are of the just give me the winning numbers school without wanting to know whats going on, then look at the link posted by zbe. Its 4k in though mind - just for the software!

I have an interesting experiment running now, im trading with 2 new 10k account's. One account i trade manually when i can. The other is running the trading system. Currently human me is losing, in fact i am getting my ass kicked. By my own program. Thats the only kind of ass kicking im ever going to enjoy!

Update thurs: rewrote the system last night after i had a bit of a revelation, having been looking at a few other indicators, and been tuning it ever since. . The new one has made 1700 on a 10k account in this week ( i ran it back from the start). 14/15 trades were correct and made money. My 'human' account cant compete with this as i am not at a computer looking at charts 24/7. So thats 17% so far for the week, still rising. Will report in when the week is over. All i need now is a sideways indicator and its game over, im going home and taking all my toys with me.

wolf you never did take me up on that bet... im on track to overshoot 50%, on 20% now after 1 week. If i had started with less money would have a 3 week holiday ahead of collecting my winnings. Its all good. Looked into starting a program, discussed with some other people running their own programs, and been advised its more trouble than its worth (yeah, really), so im going to trade solo for the time being. Happy trading.

Hey pablo, get plenty of sleep? No dreams.
/nightmares of Miss Piggy?! :lol: :lol: :lol:

Originally Posted by pablo

wolf you never did take me up on that bet

:D Hi Pablo :D
No i don't want to bet with you. I do not bet, only invest
My last post was referring to this:

Originally Posted by pablo

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

I still think to do 200%/month on average is impossible but i don't want to bet with you on that.
I am not a forex trader my self so i have no personal experience but since i first invested in Pips i have been interested in forextrading and i have reading a lot about it.
I hope to make time to start learning it my self this winter, maybe earlier.
From what i have been reading experienced forextraders say that if you make 20% average over time on forex you are doing very good and if you are doing 40%-50% you are a top trader. If you do more than that on average over time experienced traders say you are among the worlds best traders :!:
But i really don't know because i have no personal experience. This is only things i have been reading, mostly on the net but also some offline.
I know there are traders doing 800%/month and maybe even more but this are the worlds absolute best traders and they are not doing it over time. Well thats what i have been reading anyway, maybe i am wrong.. :roll:

Anyway if you are doing 20%/week i am really interest in learning how you are doing it. Like i told you i am going to try to learn forextrading myself.
I have been reading most of your posts and if i understand you right i need to know programing to do what you are doing?
Well i do not know programming so i guess i am out... :?
Maybe i have a look at 4xMadeEasy...

Originally Posted by pablo

Looked into starting a program, discussed with some other people running their own programs, and been advised its more trouble than its worth (yeah, really), so im going to trade solo for the time being. Happy trading.

I think that running your own program is a lot of trouble to. If you are going to do it anyway i advice you to make it private. By invitation only.
And run it 100% anonymous from a offshore company and offshore hosting. If you are doing it in the country where you live you will have a lot of problems with the authorities.
But if you are doing this well on trading you don't need the trouble of running a program. Like you say...trade solo.

Keep us updated on you progress :D :D

Wolf

Pablo,

are your results traded live on real accts. or just backtested?

Pable, are you programming your own custom indicators or are you using exising indicators like MACD?

- TwiceWise

haha dreams of miss piggy indeed. Between forex and the newborn i aint sleeping that well, but not that badly either.

Twicewise i use a combination of existing indicators, including the MACD to find entry points. There are so many indicators out there i cant see me producing a new or a better one, its better to pick the ones that work and when they are all saying go then you move.What this system lacks is knowledge of prices paid and a/c balance,which is where a custom system using the API comes in.

Micky - i backtest of live data and been running the system in various forms as well.

Wolf - Pretty sage words there my friends. Im not saying the average Joe can achieve this - its down to ability, or ability in the s/ware. You are wise to invest, i do not bet either, UNLESS it is on myself where i have an influence on the outcome. As i said i plan to get 100%/month, if i do that i will be happy, we will see how the next few weeks go, but it seems very achievable. If i were trading manually i could not do that, i miss all the good entry point, but the computer never sleeps :lol:


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