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Hi all, i do believe that every Forex trader should follow the following rules when trading with Forex strategies:
1. Trade with no more then 10% of the savings you have
2. Trade after a good education, i took 2 of the courses here and i am happy with those – made a small 400$ account into 750&, i know that 350& is not too much but as a % i think for 2 months is not bad
3. Trade different Forex strategies in one account to diversify the riskhope this will help to some forex traders
I hope all understand why is hard to say for us with 100% stop it or not?
1. The Forex news affect the markets every time in a different way so we never know what will be the movement before, during or after the Forex news. So by stopping on those we limit the risk.
2. The EAs are created on historical data including the news, so basically they need to stand on these news and if we go on stoping, managing the trades, we do go back to manual trading.
So these are two major issues or theories that you need to choose one.
Also it depends what kind of Portfolio of EAs you are trading. If you are with trend following strategies and the Forex news go strongly against the trend you will expirience a drawdown in you balance.
You are right Pope! Rushing is a problem and most of the time the reason why people loose on the markets.Forex Strategy Builder helps us to test a strategy at the currency moment, because you can see the performance in the same second you enter the entry, the exit conditions, the SL and the TP. You do not need to test it for months to see if it will make profit or losses.
Dear traders,keep in mind that now we record all the personal educations we do and after each one, you will receive it as a recording, so you can review it after that. The education in any ea builder is all about details and we want to make sure, you don’t miss any.
About the scam brokers, yes its the horrible part in the financial market. I do not know how the people continue to give cards over the phone and believe that someone else will make money and profits for them.
Thank you Svet, for the topic, I hope more people will reach to it, before they are burned.
For me, even the brokers with high spread are scammers. I had a student who sent me the statement with the GBPJPY Strategy from the Top 5 Forex Strategies with losses and in the same time with us it was profitable. After we compared the statements we saw that his spread was 12-14 pips…and even he was pausing on news and all was done properly, the balance was negative.
I really suggest everybody to make a good resurch before taking any actions to open live accounts.
Thank you for the good words George, with the last results you sent. Me in the detailed statement, I think you are already much above your loses 🙂 good job!
Hello guys,
The course was updated. We have create news from The Forex trading software company – there will be 14 days free trial for EA Studio as well! 🙂Yes guys, that is a bad thing and the worst is many potential Forex traders give up because they lost money with scam brokers. But this is in every industry to have bad and good companies. Here the experience is horrible, simply because we trade with our money and not any stocks,real estates etc, that’s why in mental point of view is the worst to loose the hard earned, saved money with these brokers.
Hello traders,
Thank you George. The courses are updated and we have prepared two new courses! One will be for manual trading and the other one with fully automated system – 10 ea fx will be included!
The courses will be visible by the end of the week.Thank you Ali,
I am sure you will have good results since you are dedicated.
Also having FSB Pro will make you professional and independent
Regards
Hello Ali,
Can you please send me the log file from your MetaTrader to see if there are some mistakes.It is possible that there were no signals for entry as well
Regards,
Just make sure to use as much History bars as possible from your broker. On M1 you can go to the maximum of 200 000, which is a good number. The more data you have, the more robust strategy you will create.
Depends exactly how you use the EA Studio. Do you go for fully automated trading or you pause on news? If you pause on news you should stay with the low time frames – from M1 to H1, and if you don’t, you an try H4 and D1.
What you can do is to create couple of strategies on each time frame, export them, test on Demo first and see which one works best for your trading style.