Page 1 of 4 123 ... LastLast
Results 1 to 10 of 39
 0 Attachment(s)    

Thread: Anybody Actually Making a Living Trading FX?

  1. #1
    Junior Member
    Join Date
    Aug 2009
    Posts
    4

    Default Anybody Actually Making a Living Trading FX?

    Hello everyone,

    It is not my intention to be negative with this post....

    I've seen so many systems, both manually run and EA run. Is anyone actually making a living trading ANY of these systems? Seems like everyone is eager to test "this one" or "that one" in a demo account, but I never hear anyone say, "Hey, I made $200K last year trading FX."

    Are there any traders really making a living at trading FX? Personally, I've been at it for several years with no real success, just wondering if there are others in the same boat...

    Any takers on this question?

    Thanks in advance,

    BP

  2. #2

    Default

    It takes normally 10-20 years to learn.
    Some are gifted and do it faster.
    ***
    You tried it for 3 years - you are a new-bi,
    Keep up learning, babe

  3. #3
    Member
    Join Date
    Jan 2009
    Location
    Austria
    Posts
    325

    Default

    yes i trade live with my own ea, which is an combination of the most succesful systems (2,5 years programming+15 years experience).
    1 account with higher risk, profit ~ 75% per year
    1 account with less risk, profit ~ 36% per year
    the secret is to know, that you cant get rich in forex in 1 month = dont overtrade yourself and your account. collect your steady profits month by month, this the only one way, that forex will change your live and you are one of the 5% winners in forex.

    my 2c

  4. #4
    Junior Member
    Join Date
    Aug 2009
    Posts
    4

    Default

    Would you be willing to help out this trader with some ideas or hints on which EA to use? I know you may be hesitant...but I could really use some help, and it would really be appreciated.

    Thanks,

    BP

  5. #5
    Member
    Join Date
    Jan 2009
    Location
    Austria
    Posts
    325

    Default

    Quote Originally Posted by BlackPearl View Post
    Would you be willing to help out this trader with some ideas or hints on which EA to use? I know you may be hesitant...but I could really use some help, and it would really be appreciated.

    Thanks,

    BP
    some hints, not complete listed
    - secureprofit/break even system
    - max trades per pair and sequence
    - min equity to secure your money = emergency close
    - check cot report, disabling trading if necessary
    - dont trade pairs if a high impact is estimated = forex calendary (red) (orange - option, less lot size)
    - ranging or trending market = trending 0.01 ranging 0.1
    - less lot size, more pairs = diversivied
    - quarter trading
    - range trading
    - news trading
    - soft martingale (pro's only)
    - max lots per pair
    - min. 3 indis (ema, rsi, macd) - no repainting indis!
    - min crosscheck on 3 timeframes = 3xindi + 3xtf = 9 infos on a pair
    - mm - 1k account = max 10 pairs (not at the same time!), with 0.01 lot size!....steady profits month by month is the answer on the forex riddle

    trade currency options & futures demos to enhance your skills, to get a market (correlation, news) feeling overall

  6. #6

    Default

    Quote Originally Posted by BlackPearl View Post
    Hello everyone,

    It is not my intention to be negative with this post....

    I've seen so many systems, both manually run and EA run. Is anyone actually making a living trading ANY of these systems? Seems like everyone is eager to test "this one" or "that one" in a demo account, but I never hear anyone say, "Hey, I made $200K last year trading FX."

    Are there any traders really making a living at trading FX? Personally, I've been at it for several years with no real success, just wondering if there are others in the same boat...

    Any takers on this question?

    Thanks in advance,

    BP
    Main new-bi problem is that most have no clue what to look for. So they waste time following flashiest and loudest posts. If you wasted 3 years just on that, you didn't actually start learning.
    Flashiest and loudest posts are usually marketers or ego trip maniacs with unproven claims.
    ***
    So first rule - always test
    ***
    Another new -bi problem - lack of previous biz experience.
    Trading is a solo biz - entrepreneurship. So it's good idea to learn some good entrepreneur literature on sales and marketing. So you know all the marketing gimmicks and don't fall for them. You also get better organized.
    ***
    Most important rule in biz - having control. If you don't have control you don't have trading business.
    ***
    In trading you gain controll by applying objective criteria.
    So that what you should be focusing on - gathering a valid sets of criteria for :
    1. market trade entries.
    2. stop placement
    3. target calculation
    4. Trailing stop logic
    5. Money management.
    6 Gathering hardware and software tools, applications, indicators, computers, communication devices, etc.
    7. Account, trade analisys (learning excel), other
    ****
    Wright down those seven points and start gathering intel.
    Not bizare claims but specific pieces of logic, then atart testing them and see how it works, areas of improvement, strong/weak points. You have to be patient and committed for long term success.
    ***
    At the beginning its a lot of research and test and self development. You might also alter things like your diet, and sleeping cycle and be ok with spending long hours with computer.

  7. #7
    Junior Member
    Join Date
    Aug 2009
    Posts
    4

    Default

    Thanks for your input. Actually, I am an entrepreneur. I'm the guy that invented the "Freshness Valve" on every bag of gourmet coffee on earth, manufactured tens of millions of them in my plastic injection molding plant. I also am an avid stock market investor, racking up a 303% return on investment since the market crash in March of this year. I have been working to perfect my knowledge of FX trading and have an OK manual system, but prefer to use an EA, just cannot find a good one. So I'm working to produce one myself. If anyone has one that they can honestly say works, then I would love to learn about it.

    Thanks,

    BP

  8. #8

    Default

    congratulations on your accomplishments
    ***
    All available EAs are way too primitive and place stupid trades.
    ***
    First you have to become a master trader, then put it into code. Problem is, those who are good at trading don't have time for mql and coders are too busy with peddling junk that barely works.
    ***
    Perhaps there are intelligent EAs for private use, but not for public.
    ***
    are you a coder ? so how do you plan accomplishing your EA building plan?
    ***
    First you have to find the idea and then finance coding
    ****
    All free EA development is too hype based. Coders want to be popular, so they follow "popular" methods. But problem is what is popular is either junk or ineffective. Because winning in the markets is not popular. I wonder what kind of world we live in if winning becomes popular.
    ***
    In trade - best methods are still kept quiet.
    Last edited by Metatrader7; 08-27-2009 at 06:38.

  9. #9

    Default

    So trading bis is different then inventing a slightly more useful packaging. Building a good trading EA is similar to creation of a chess playing robot. IBM took many years to finally beat Kasparov.
    ***
    This is something like that.
    ****
    Ford when building his co. realized that he needed top experts and engineers to accomplish his goal.
    ***
    So if you are that cocky, start building a team

  10. #10

    Default

    Otherwise invent slightly better EA packaging for your EA or methods you already use and peddle it through ClickBank.
    ***
    Dean Saunders simply sold his method he collected from forums through clickbank and after he became popular, EA was created in free forums.
    ***
    Free forums are fame junkies, they follow the crowd, so first you get their attention, then may be you can ride the pop wave.
    ****
    It becomes like a pop star biz
    ***
    So free forums obey "good enough to be sold" or "good enough to be noticed" philosophy.
    Which is not - Max efficiency method that is kept quiet.
    ***
    That only means few more years (if not decades) of forum evolution will eventually get us there, at least much closer to what everybody dream about.
    Now it's more like a dream for most and if you rely on forums - they are getting better, still too slow
    Last edited by Metatrader7; 08-27-2009 at 08:01.

Similar Threads

  1. Questions for those who are making money trading
    By spoofy in forum Trading discussion
    Replies: 5
    Last Post: 01-09-2013, 08:25
  2. Fee for EA making/modification
    By bcajes in forum Ideas for expert advisors
    Replies: 8
    Last Post: 03-04-2010, 19:35

Tags for this Thread

100, analysis, breakeven, brokers, change, color, correlation, currency trading, demo, ea development, eas, eur, expert, experts, forex, forex trading, free, free ea, fx trading, high, indicator, indicators, investment, learn, live, long term, macd, managed, manual, martingale, mql, news, profit, profitable, programming, real, request, research, robot, sales, scalp, signal, simple, stock trading, stop, study, system, systems, test, time, trader, trading, trailing, trend

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •