It's All About The Pips...

[Rollingstone]

FX500 Club

Hi Dan, hi all

Anyone who has followed this thread from the beginning will have seen me post here and I would just like to add, as a member of Dan’s FX500 Club, about my own experience and how much I have learnt.

When I came across Dan’s original thread 16 months ago and signed up with him it was because I knew virtually nothing about trading but wanted to learn to read the markets for myself and not just join a tipping service. I asked the dumbest questions and was particularly slow off the mark getting to grips with the whole trading game and every aspect you need to learn to become a competent and successful home trader.

Working full time gave me limited time to study but my questions were always answered and I was encouraged to move along at my own pace. As I began to grasp and master every aspect, with Dan and Zak both having the patience of Saints, they also were genuinely pleased at my progress.

In June this year I felt confident I had learnt enough to give up my full-time job as a secretary and work part-time to pursue trading as a career. Without Dan this would never have been possible. Of course I put in a lot of hard work myself, but I could never have got this far without him, not just the education service he provides but the genuine support and encouragement he offers too, not just to me but to everyone who joins up with him.

Yes I post here a lot and I’m always up-beat about the Club but that’s because it has changed my life around without trying to sound too dramatic. The education Dan has provided me with has opened new doors and I can now read the markets and take my own trades, which is the whole point of the Club. Yes, they give trade ideas but they want us to read the markets for ourselves as well and make our own choices in what and how we trade. Is there any better way?

As Dan says in his post, if you want a tipping service then the Club is not for you. If you want 100% winning trades then you are unrealistic. If you think the markets will be easy to trade everyday then you have much to learn. If, however you want a solid education in how to become a successful and confident home trader, in time, with hard work, and want to join a group of super cool and fun like-minded people and have a good time learning and trading together then by all means give the Club a go. Just don’t expect to become a millionaire overnight or every trade to win. Yes there are quiet days, weeks even but then it all kicks off and the pips roll in.

I for one can’t recommend them highly enough as genuine good guys who offer a great education service for those wishing to learn how to trade and for novices looking for help with the final pieces of the jigsaw.

I think I am finally on the right tracks to becoming a successful trader but I will be sticking with the Club, that's for sure.

Best regards

Fran aka Rollingstone

 

[Reubs]

Hey guys,

I have just singed up to the forum but I have been a member of the FX500Club for about 3 months now and I'd like to share my experiences.

4 Months ago I'd never heard of a pip. I stumbled into forex trading accidently while searching for an extra source of income aside from my normal career and after discovering the baby pips website and doing some reading up I opened a demo account with one of the brokers to see what it was all about. I read as much as I could, started demo trading, had a few wins and decided I liked this so after 3 weeks I opened a live account.

I learned very quickly that trading is a whole different ball game to what I first thought and I subsequently lost 20% of my account as I blindly tried to guess the market movements. It was a stressful time indeed and I began to think this is a dangerous game that I should steer clear of! I just couldn't understand how to trade.

Again by accident I found the FX500Club and they invited me for a one day free trial. I went back to demo for a while and just studied what Dan and the gang teach. I admit it was very hard at first as I didn't even know how to use MT4 or what a 20EMA was. Similar to what Rollingstone has said above I asked loads of questions that looking back seem silly now but at the time I didn't understand. My hat really comes off to the guys for their eternal patience with me and for the personal touch as they made the effort to keep an eye on my progress and keep me on the right track.

It was a steep learning curve coming from no previous knowledge of trading but what they teach is a very solid strategy but one which has the flexibility to make it your own, to adapt it to suit your own style. And this is what I love about the fx500club - they share their ideas and opinions but we all have slightly different styles and approaches and we can discuss and compare these ideas in the live room. The rom is made up of the teachers Dan, James, Zak and Hemal as well as newbie traders and traders who are alot more advanced. As has been said already, the emphasis in the club is on the education, not the signaling aspect. Teach a man to fish rather than give him a fish sums up how I view the club. They call very good trades but of course not all are winners. What strategy or service out there can provide a 100% win rate?

I am still a trading newbie but I can say that in 3 months of being in the club and studying hard at what they teach and going live again from July, I have gained back the 20% of my account I lost starting out and have built it up further into profit since then. Last week I began trading proper lot sizes and have been keeping in the positive despite the tough conditions some days. To say it once again I really feel this club is all about the education and idea sharing and I feel I owe them alot, which is why I wanted to share my experiences here and join in the discussion.

Thanks and I hope to get to know some of you here over the coming months.

Reubs

 

[bangkokgee]

nice one rubes

its far from easy,ur a bright guy and a person who ive seen in the room evole,and so helpful and liked .,one thing i will say fran is one of the best traders in the room,always there to help,and she knows how too trade,follow her path,like with the silver crosses,and the breakout trades,julie too,in and out no messing around,you know the score now with stops,before long you will be showing us the way,and you can sell that mini and pack in hair dressing for good.:cheesy:

 

[Vivek_Chhibba]

Are we expecting a retracement in EurUsd soon? It seems to have hit the 61.8 Fibo line earlier today. What do you reckon?

 

[Black Swan]

Hi Guys

Apologies for not logging on to this site for a while but been busy with other things...

To clear a few things up… We work in Gibraltar and live in Spain like 95% of the working Gibraltan population. When you have an amazing coast line like Spain then I think all of you would choose to live there instead of Gibraltar.

For me the market has been very challenging in the last 6 to 8 weeks and as you know we have limited our trading in a big way and hardly posted on here. I have been looking more at the 4 hour chart setups but with lack of clear consensus in one direction (except yesterday) I haven’t really been posting that many ideas. We all have our personal view on Indices, currencies and commodities and all we do is give an educated assumption of where we feel the market could move. Of course this depends on market conditions and as I said I have found these conditions tough over the last month or so, as I know a lot of other traders have as well. Is it the summer months?? Maybe..Who know’s…That’s trading and we move forward and look for a profitable last quarter.

We are looking for a little bit of norm back in these markets again, as one day we are flying and the next day the ball park changes again. Try and hold a trade for longer than 24 hours and you tend to get bitten, which is very frustrating for me and others. Zak’s analysis on WTI (Oil) yesterday break of 68.85 was spot on moving over 200 points and one of the few trades that he has managed to hold for over 24 hours. The GBPCHF trade setup looked good early doors but by late afternoon it wasn’t great losing us 45 points. But having the diversity of 4 traders means that you can spot some fantastic setups over 20 odd different pairs.

Posting on here, posting on my members blog, speaking to people daily about ideas etc etc is too much and I need to cut back. I am here to trade and that’s what I have been doing since my early 20’s. I need to get back to the basics of watching these charts again in a simple and effective way. Yes this summer has been difficult to trade compared to last summer (on 4 hr charts) so short term charting seems at the moment the only way to trade and I am adjusting back to that but i dont believe in excuses...

There seems to be so much pressure to trade everyday, even when market conditions are poor that I need to stress again that don’t trade unless you are happy with a certain level and direction of the market.

As everyone keeps telling me, we offer a great starting platform for novice traders. As you know we are an education company, always have been and always will be. If you want to learn our view on how we read the market then great, if not no problem.

We have had a lot of experienced traders come into the member’s area (not because they need to) but because they want to share views and enjoy the club. Novices tend to appreciate the ideas on correlation, money management, psychology etc…It’s up to you and some of you will make great pips and others wont because trading is about money management and that’s where 99% of people go wrong.

If you want a tipping service then we are not the place for you. Let me repeat this… If you want a tipping service then we are not the place for you.If you would like to learn how we look at the market, share ideas and work as a team then great. If not no problem and I wish you all the best for a very successful trading career.

We don’t tie anyone in and for a small monthly charge you can come and go as you like. Some naturally love the Club and appreciate what we do and what ideas we share and others love their own strategy and believe that theirs is better and don’t need our analysis and education which is great.

At the end of the day that is always going to happen as different styles suit different traders but hopefully some of our ideas and education help a few.

What some people have said is laughable and not even worth replying to. I am a busy man and happy to help other like minded people but do understand it won’t suit everyone. I am going back to the old days and going back to basics. Trading can be made so simple but sometimes other factors get in the way. Maybe I need more sleep, so guess kids have to go and dog is put on Ebay! (Only joking and I am not married to Beyonce!)

Please email me if you have any questions on [email protected] Happy to chat and above all have a beer if you are keen. My round…

Have a great day and stay happy.
Dan

You operate a terrific service Dan, hope the family are well.

 

[jel31]

my two-pennies-worth...

Hi Guys and Girls

Well, after a week in Ireland (had a lovely time, fab wedding and the most welcoming and down-to-earth people in the world!) back to a cheeky cable this morning, wished I'd banked a bit earlier

But, what's with all the negativity on this thread over the last few days? Hey, the FX500Club's best asset is it's positivity so it's time for me to but in my two-pennies-worth...

Firstly, to all you cynics out there, rest assured Dan and the gang are truly genuine. Secondly, the Club is not about getting you rich quick with a magical tipping service. It is about getting clear and patient guidance in TA and MM, with the aim of getting everyone making consistent pips.

There is no point getting individual members to post details of their performance as "proof" of the Club's offering. We are all different, trading plans are all personal, in fact I bet there are no 2 accounts that look the same within the club. We all have our favourite pairs, our preferred set-ups, some like going in on the break, some prefer the 123, some go in half-stake on one then add on the other. Some have weekly targets of 50 pips, others 250 pips. You have to find the style you are most comfortable with and that takes time and dedication.

That last paragraph might be a bit vague for some so here is something a bit more concrete: I joined the Club in Jan 09, for the last 4 months, my bread-and-butter trades are during the London Open with R:R of 1:2 and W/L of 80%. There is NO WAY I would have got to this stage without Dan and the Club.

Bit dramatic? Well, I would not have had the patience or perserverance to get set up in front of my conputer by 0630hrs every morning for the last 8 months if there hadn't been the support and positivity waiting for me in the form of Dan (& Zak, James & Hemal of course) and the other members of the Club. You can ask any questions you like, discuss possible set-ups and avoid bad trades, all with friendly banter and a few laughs. Home trading is a lonely business and I have no doubt I would have given up by now (or else still be going around in very disillusioned circles).

Anyway, that's my personal take on things. Everyone's different (thankfully) but Dan has indeed started something very special...

Happy trading all.

Julie

 

[Princepessa]

I'm a newbie to forex and I started looking at forex about 2 years ago for an extra source of income. However, life had other ideas so I abandoned my plans until late last year. From the little I'd learnt on my own, I knew I needed help if I had any hopes of making it in trading. I stumbled on the club by accident while researching another live room that I was considering joining and I've never been so grateful for an accident in my life. I've been a member of the FX500 Club now for about 7 months.

Dan, Zak, James and Hemal are great teachers and they have a genuine desire to see us succeed. I must confess, I can't do what they do on a daily basis. I'm not that patient and considering the fact that there are so many different levels of traders in there. The room is not a tipping or signals service and if you want that then please just go away and leave us alone. Emphasis is on learning to trade for yourself which takes time(different timelines for different people of course).

Yes trades are called in the live room, after the set-ups have been explained, however it is still YOUR responsibility to pull the trigger and manage your trade. The aim is not to take a trade because Dan or Zak, James or Hemal said so. The aim is to understand why they want to take the trade and IF you agree, take it with them. Sometimes the trades go right and sometimes they go wrong but then if you're expecting a 100% win rate, you should wake up 'cos you're obviously still dreaming. Trades have been called in the room that I haven't taken and sometimes they went right, other times they went wrong but I take full responsibility for MY ACCOUNT. The market has a mind of it's own and I'm yet to see anyone predict its moves accurately 100% of the time.

I'm in this for the long haul and I've come to understand that Money Management is the key because no trading strategy or system is 100% reliable. I learnt that in the club. Even when the system is 70% reliable, what about the human component? Yes my account has not grown, because I work full time and have not been able to devote as much time as I would like to trading so my learning is coming along slowly but it is coming. However, I'm glad to say that in 7 months, my account has not lost more than 10%. That alone puts me in the top percentile of newbie traders.

The guys have a genuine desire to help members so the club keeps undergoing changes. The most recent being a new site with a members blog that can be updated throughout the day so you don't have to sit in front of your computer all day or miss trades because you're not sitting in front of your computer. I mean this is perfect for people who work full time. Don't even get me started on the other non-teaching staff like Kimmi. Let's just say I absolutely LOVE the room(yes I'm biased, bite me!) and the fact that I'm not just learning to trade but also making great friends and having fun doesn't hurt either.

If you're a newbie, the club is perfect for you and if you're an experienced trader who wants to hang out with other folks, maybe learn something new or a variation on something old, share your knowledge and generally have a few laughs, then please come join us.

Joan

 

[ekanters]

What is going on here.

Hi all I was in Bear country hunting for BB=Ben Bubble=Ben Bernanke but the clever guy is very slippery. But let him run wild for a while time enough to chase the creep.

I started to do some reading here and quickly stopped because it makes me sad and bear drops are tumbling down my cheeks. But with a big GROOOWL I get a bit angry.

First of all FOREX is not for the faint of heart. If you want to become a millionaire over night there is only 2 ways and that is rob a bank or inherit. Some of the biggest hedge funds in FX have made losses up to 30% and not talking pennies here but hundreds of millions of dollars. One of these funds came with the bright Idea to get hobby traders in and let them trade with 5000 dollar accounts. Hey when you have a 100 traders that will only cost you 500.000 dollar and that is far less than the millions they are losing right now. And take it from me I know what I am talking about.

From all traders, fx writers and what is more out there 95% loses his or her money but it also means 95% of the traders are liars because everywhere you go they double their accounts in 3 weeks time LOL. I have not seen one website where they say we lost it all.

Anyway this brings me to the FX500 club. I have been in that room for a few months and I loved it. Not just because of trading but also because there was a lot of fun. They explain what forex is all about and they tell you to trade with pennies and not with bills of a 100 dollar a pip. When you trade pennies there is no need to lose because you can place stops as far as 2-300 points. What ZAK (Mr PIMP The one and only) James as a nice entertainer and DAN the man with the serious side of the three are doing is tell you the basics of trading and charge almost nothing. I have a subscription for a year with a certain professional institute where I do not pay much because of .... (Not telling) But the normal year subscription is 12.500 dollar and guess what????? The last 4 months they made only losses on their so called wonderful signals.

To come to the final conclusion of the FX500 Club:

1 They do a hell of a job for nothing
2 They are great fun
3 They teach you something (and that includes how to lose: Love your losses because only than you will get the winners)
4 You want to know about forex this is the place to be and the guys should be honored with a gold medal for their service.
5 Sorry for my language but what the **** do you care if they live in Spain, Gibraltar or the North Poole or even underground. They don’t trade your money it is you that is the blame and not the rock in Gibraltar.

THE BEAR (huggy for RS)

Don’t come looking for me because I might eat you alive. LOL

edit article 5 min later: P.S. I just noticed the stars in a word. I did not do that LOL

 

[elitejets]

Sinib
I am a full-time, profitable trader and I learned to trade in the FX500 club. It was a great place to learn filled with new traders and old traders and I learned "skills" I still use today from a great bunch of genuine real traders. It isn't a signal service, its a supportive place for new and not new traders to learn a pretty good trading method.
But real traders will tell you that everyone has losing weeks. I have losing weeks, I have had two losing weeks running and I have even had a losing month! Its normal. Unless you are a professional scalper that is part of the game and learning to accept losing and keep chipping away is key to long term success. The key is profitability over time. A lot of pro traders had terrible weeks in August, another I know will not even trade in August. It wasn't just the FX500 club. Jacko at FF had a terrible month, look at the EURUSD weekly chart and you will see why, the guys from J16 had a terrible month.
To judge this team on one losing week in the middle of a terrible summer is very unfair.
I would recommend Danarm and his team to anyone, they are well worth the money and bend over backwards to make sure people are consistently successful.
Nicola

 

[bangkokgee]

hell of a trader

Sinib
I am a full-time, profitable trader and I learned to trade in the FX500 club. It was a great place to learn filled with new traders and old traders and I learned "skills" I still use today from a great bunch of genuine real traders. It isn't a signal service, its a supportive place for new and not new traders to learn a pretty good trading method.
But real traders will tell you that everyone has losing weeks. I have losing weeks, I have had two losing weeks running and I have even had a losing month! Its normal. Unless you are a professional scalper that is part of the game and learning to accept losing and keep chipping away is key to long term success. The key is profitability over time. A lot of pro traders had terrible weeks in August, another I know will not even trade in August. It wasn't just the FX500 club. Jacko at FF had a terrible month, look at the EURUSD weekly chart and you will see why, the guys from J16 had a terrible month.
To judge this team on one losing week in the middle of a terrible summer is very unfair.
I would recommend Danarm and his team to anyone, they are well worth the money and bend over backwards to make sure people are consistently successful.
Nicola

true trader,one of the best

 

[Black Swan]

Hi Guys and Girls

Well, after a week in Ireland (had a lovely time, fab wedding and the most welcoming and down-to-earth people in the world!) back to a cheeky cable this morning, wished I'd banked a bit earlier

But, what's with all the negativity on this thread over the last few days? Hey, the FX500Club's best asset is it's positivity so it's time for me to but in my two-pennies-worth...

Firstly, to all you cynics out there, rest assured Dan and the gang are truly genuine. Secondly, the Club is not about getting you rich quick with a magical tipping service. It is about getting clear and patient guidance in TA and MM, with the aim of getting everyone making consistent pips.

There is no point getting individual members to post details of their performance as "proof" of the Club's offering. We are all different, trading plans are all personal, in fact I bet there are no 2 accounts that look the same within the club. We all have our favourite pairs, our preferred set-ups, some like going in on the break, some prefer the 123, some go in half-stake on one then add on the other. Some have weekly targets of 50 pips, others 250 pips. You have to find the style you are most comfortable with and that takes time and dedication.

That last paragraph might be a bit vague for some so here is something a bit more concrete: I joined the Club in Jan 09, for the last 4 months, my bread-and-butter trades are during the London Open with R:R of 1:2 and W/L of 80%. There is NO WAY I would have got to this stage without Dan and the Club.

Bit dramatic? Well, I would not have had the patience or perserverance to get set up in front of my conputer by 0630hrs every morning for the last 8 months if there hadn't been the support and positivity waiting for me in the form of Dan (& Zak, James & Hemal of course) and the other members of the Club. You can ask any questions you like, discuss possible set-ups and avoid bad trades, all with friendly banter and a few laughs. Home trading is a lonely business and I have no doubt I would have given up by now (or else still be going around in very disillusioned circles).

Anyway, that's my personal take on things. Everyone's different (thankfully) but Dan has indeed started something very special...

Happy trading all.

Julie

Top post Julie, negativity stalks this suite of forums like a cancer...I only 'used' the club for a couple of months, not for me but without any doubts or hesitation I've recommended it to plenty of friends/contacts, those who joined have subsequently mailed me back with positive views...

Here's a thing I read the other day on PMA, for all the hardcore 'TA purists' who don't get price action :whistling the site is worth a read... LBRs book (Street Smarts) is a top read (so far) only half way through.

Positive Mental Attitude

Our mental attitude creates our condition of success or failure. If we believe in our hearts that something is possible, our mind will find a way to achieve it. One of the great secrets in life is learning how to channel our mind and belief systems to shape our surrounding environment and harness the laws of abundance, health and prosperity. The following is a list of our favorite books that we have read over the years that have shaped our thinking. There are also some websites to inspire you to reach higher for that next level in your performance, or give you that occasionally needed motivational boost!.....

Linda Bradford Raschke - LBR Group

 

[Black Swan]

Sorry, just one more thing to say, anyone moaning about 95 quid a month for what those guys give you is a right fooktard...

 

[elitejets]

LBRs book (Street Smarts) is a top read (so far) only half way through.

The Street Smarts book is very good, I agree.

Bangkokgee - thanks - but everything I said is true, these guys are the real deal.

 

[Tenapenny]

I too am in the FX500 Club although not in the room as often as I would like due to other commitments. Having traded from home for the past 2 years, I can honestly say that my understanding of forex, and profitability, have greatly improved over the last year since I joined. So thank you Dan, Zak, James, Hemal and Kimmi. Keep up the good work. The positives far outweigh the negatives

 

[danarm]

Thank you

Good morning all

Well i can't tell you how i feel this morning after reading those posts. Some very kind words and i wasn't expecting that. Thank you.

To be honest the pressure of trying to make pips 'day in day' out isn't easy infront of people and soon wears you down, as you can imagine

I am grateful for your support and glad we have made a little bit of difference to a few traders out there. I hope we can help a few others out there and continue to look for low risk pips together as a team...

As mentioned my attention is going to be more on our members blog with 4 of us posting chart ideas/setups throughout the day.

I am going back to basics and look to trade this market on my my terms rather than what others feel.

Have a great day guys and I am short AUDUSD just below the pivot, as per this mornings post.

D

 

[danarm]

Hi Erik

You do make me laugh fella...

I miss your posts as they are always good value.

Trust you are well.

D

 

[rockdrive]

Morning Pipsters,
I normally post on another channel and twitter. You got to laugh. I have been reading (with interest) some of the rather personal and somewhat pointed jabs (posts). Freedom of speech rules!

Dan and some erstwhile colleagues (FxPimp and Le Monkey) have taught me and I have been using the method since mid 2008. I admit I nearly lost it all; but with their banter, wit and tutorials I have to say I am now rather good. Making a nice income, and no doubt in the months to come will again be a full time trader.

The facts;
The approach works
Its not for everyone
You need to be patient
and you need to have courage

Happy Pipping

Normally FXFisherman Rockie

 

[Rollingstone]

Aahhh, the Legendary Rockdrive

Morning Pipsters,
I normally post on another channel and twitter. You got to laugh. I have been reading (with interest) some of the rather personal and somewhat pointed jabs (posts). Freedom of speech rules!

Dan and some erstwhile colleagues (FxPimp and Le Monkey) have taught me and I have been using the method since mid 2008. I admit I nearly lost it all; but with their banter, wit and tutorials I have to say I am now rather good. Making a nice income, and no doubt in the months to come will again be a full time trader.

The facts;
The approach works
Its not for everyone
You need to be patient
and you need to have courage

Happy Pipping

Normally FXFisherman Rockie

Hey Rockie!

Woo hoo.

Good to see you over here, channel hopping hey, lol. See you back on the other side for some more fishing soon.

Well impressed RS

 

[ian]

Just so we are clear..

Proof?

My comment was directed at Mrs Sc0rpian after she/he/it made repeated allegations towards Dan and his crew which were clearly below the belt.

I have no desire to find out about anybody's financial status.

 

[montmorencyt2w]

Also making it clear

My comment was directed at Mrs Sc0rpian after she/he/it made repeated allegations towards Dan and his crew which were clearly below the belt.

I have no desire to find out about anybody's financial status.

The same applies to my posting subsequent to yours. Unfortunately, after the admins removed Sc0rpian's posting, the context was no longer clear.

IMHO, the admins should have replaced it with a placeholder, not just removed it without a trace.