sharpesville
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Okay,
So I've checked that out and it didn't really tell me anything I didn't know already. Still, maybe that sort of advice is how you get to be a senior member instead of just a newbie.
Thanks and goodnight
Okay,
So I've checked that out and it didn't really tell me anything I didn't know already. Still, maybe that sort of advice is how you get to be a senior member instead of just a newbie.
Thanks and goodnight
Willy
Junior member
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Many thanks, SandyW, this post should be kept as part of a Forex tutorial!
I knew all the others, and STP as a matter of fact, just hadn't seen the term before. So thanks for clearing this up!
I've been using STP and ECNs for my Forex trading, and have for the last half year or so traded through Interactive Brokers (ECN) where I have been trading futures and options for years. The reason for my original question was that I've never had any grounds for dissatisfaction or suspicions about my trades or fills, so I wondered why IB and others wouldn't be a good alternative for many.
Then again, I haven't done any round the clock automated trading, so that picture might look different. I'll see if I can compile some data about IB spreads through 24 hours so we can see a bit more of what happens.
Note that this is not necessarily a recommendation of IB for Forex trading. They have the most complex and hard to understand accounting solution I've seen when it comes to Forex trading.
Willy
Hi David!
Here is how the land lies:
2008
1 Dec Starting Capital £100
19 Dec £100 withdrawn.
31 Dec Equity at £2,070
2009
30 Jan Equity at £3,248
27 Feb Equity at £2,953
27 Mar Equity at £3,698
30 Apr Equity at £4,576
29 May Equity at £5441
30 Jun Equity at £5665
3 Jul Equity at £5789
10 Jul Equity at £5781
Another disappointing two weeks. I was “supposed” to be pulling in £1000 a month by now! So my motto “you never know” is true as ever.
FAPT is not bringing in enough money now to justify the high risk trades. With a take profit level of less than 5 pips and a stop loss at 53 pips on the EURCHF and a similar risk/reward ratio for USDCAD it is risky at the best of times and only justifies itself with a high win/loss ratio. With an increasing number of losses and only marginally profitable winning trades, I judge that it is not worth continuing to trade FAPT, and I am quitting while I’m still ahead. MegaDroid is on notice and I may decide to stop it too.
I am in the market for some good new robots, which are not scalpers. I am now trialling one called Winalot and another from the same stable called EAzeGoer (!). It is too early to form a view but they look promising based on the experience of some traders so far. In fact I am losing with them after only a few trades. So fingers crossed for next week.
I have continued manual trading of the break-out system I mentioned, and still have some confidence in it. Although some whipsaw was a bit painful midweek, I am now up 15% since 18 Jun. That said, there were some fantastic long trends following break-outs on the GBPUSD which I didn’t stay in as that is not the system (at present anyway). I am trading the new EAs and the manual break-out system I devised (albeit with some cribbing, as you do) on separate accounts. If I can see a track record developing I may post actual results eventually, but they are too bitty at the moment while I tinker.
LondonScalper
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I seem to remember a while back someone was trialing SniperForex, how did that go? Any good or has that now been canned?
stevespray started a new thread on Sniper at http://www.trade2win.com/boards/forex-strategies-systems/37134-sniper-forex-system.html
Sandy have a look at a robot called pipboxer
I did, way back. Not persuaded. And you?
Hi Sandy,
Do you ever get worried that your robot might place an order without a stop loss, or that a crash of your remote host might leave you with an open position that the robot is no longer monitoring for you?
And have you looked at a robot called Pips Leader?
Looking forward to an update of this weeks results - do you run your robots 24/7 or turn them off over the weekend?
Regards - David
Do you ever get worried that your robot might place an order without a stop loss, or that a crash of your remote host might leave you with an open position that the robot is no longer monitoring for you?
And have you looked at a robot called Pips Leader?
Looking forward to an update of this weeks results - do you run your robots 24/7 or turn them off over the weekend?
Regards - David
Pips Leader is a scammed copy of a copyrighted free EA. If you are interested type Divergence Trader into Google. I know nothing about it, but you can download the .mq4 file here:
Divergence Trader - MQL4 Code Base
As for my own EA trading I have stopped the scalpers (FAPT and MegaDroid) at least for the time being. Performance has fallen off too much for my liking.
I am however trialling Winalot and EAzeGor on a live account at small lot sizes.
You may find the forum at donnaforex.com interesting
Divergence Trader - MQL4 Code Base
As for my own EA trading I have stopped the scalpers (FAPT and MegaDroid) at least for the time being. Performance has fallen off too much for my liking.
I am however trialling Winalot and EAzeGor on a live account at small lot sizes.
You may find the forum at donnaforex.com interesting
Concept subscription renewal warning
I have pasted below an email I received today from Concept FX. They are now attempting to automatically renew subscriptions based on the original payment details we have given them and they have retained. A new company Parallel Line Publishing has been setup to facilitate this.
I am informed by my card provider that a pending tranaction has been placed on my account and if the company completes this it will be refunded via their disputed claims department.
Check your bank/credit card statements etc this is fraud!!
Hi Simon,
Trust you are well.
Our servers have highlighted that your semi annual subscriptions for £250 were due.
We would just like to confirm that this payment has now been processed.
Jeran
Concept FX
08000 437 033
NB Any payments to Concept FX will show as Parallel Line Publishing Ltd
I have pasted below an email I received today from Concept FX. They are now attempting to automatically renew subscriptions based on the original payment details we have given them and they have retained. A new company Parallel Line Publishing has been setup to facilitate this.
I am informed by my card provider that a pending tranaction has been placed on my account and if the company completes this it will be refunded via their disputed claims department.
Check your bank/credit card statements etc this is fraud!!
Hi Simon,
Trust you are well.
Our servers have highlighted that your semi annual subscriptions for £250 were due.
We would just like to confirm that this payment has now been processed.
Jeran
Concept FX
08000 437 033
NB Any payments to Concept FX will show as Parallel Line Publishing Ltd
Slimey crowd aren't they.
This is the message I had on 3 Jul, after my year expired on 1 Jul.
Obviously I never contacted them, so I assume I have been removed from "the system". They've probably had zero responses from others too, so are resorting to trickery and fraud.
This is the message I had on 3 Jul, after my year expired on 1 Jul.
Hi Sandy,
Hope you are well.
Our system has highlighted that your semi-annual subscriptions are due.
Could you please contact me in the office or via e-mail to arrange payment before our server removes your username & passwords from the system.
Kind regards,
Jeran
Concept FX
08000 437 033
NB Any payments to Concept FX will show as Parallel Line Publishing Ltd
Hope you are well.
Our system has highlighted that your semi-annual subscriptions are due.
Could you please contact me in the office or via e-mail to arrange payment before our server removes your username & passwords from the system.
Kind regards,
Jeran
Concept FX
08000 437 033
NB Any payments to Concept FX will show as Parallel Line Publishing Ltd
Obviously I never contacted them, so I assume I have been removed from "the system". They've probably had zero responses from others too, so are resorting to trickery and fraud.
Hi Sandy,W
Just picked up your message you sent to me back in July 2008 shows you that I have not logged on here for quite a while, sorry!
Very interested to see you are now trading with Robots EAs, I have been as well and thought I would share my experiences with you and others on this forum.
I run Mega Droid and Euro Blaster and for the past twenty two weeks I have banked every week a very healthy return. I have two accounts with Alpari UK, one with £600 and the other with $1000. I start them both running on a Monday morning at 9.05AM UK time on my VPS in the US, as the week goes by I check every morning to see how we are progressing and like last week on Wednesday morning I switched them both off being happy with a total weekly income of £380 which I then withdraw and bank ready for the next week. There has been two weeks when if I stayed in I would not of had any profit to bank like last week. I have had several weeks of £100 plus and my best of over £500 but never less than £100, my average is now over £200, not a bad income for an old retired guy using £1200 total investment, that's nearly twenty percent per week. But I do run at very high risk!
I am also researching new robots and will check here often to see your thoughts and others and share mine also.
Bye for now.
Just picked up your message you sent to me back in July 2008 shows you that I have not logged on here for quite a while, sorry!
Very interested to see you are now trading with Robots EAs, I have been as well and thought I would share my experiences with you and others on this forum.
I run Mega Droid and Euro Blaster and for the past twenty two weeks I have banked every week a very healthy return. I have two accounts with Alpari UK, one with £600 and the other with $1000. I start them both running on a Monday morning at 9.05AM UK time on my VPS in the US, as the week goes by I check every morning to see how we are progressing and like last week on Wednesday morning I switched them both off being happy with a total weekly income of £380 which I then withdraw and bank ready for the next week. There has been two weeks when if I stayed in I would not of had any profit to bank like last week. I have had several weeks of £100 plus and my best of over £500 but never less than £100, my average is now over £200, not a bad income for an old retired guy using £1200 total investment, that's nearly twenty percent per week. But I do run at very high risk!
I am also researching new robots and will check here often to see your thoughts and others and share mine also.
Bye for now.
Hello everybody,
Very interesting thread this. I received an email marketing the Concept - Fx. Being a little intrigued a search led me to this forum at page 86. It's taken some time, but I've read every post since then.
It seems that nobody posting here who has paid for the system has stuck with it and rightly so. I would have been very reluctant to part with that sort of money for a system with no guarantee and dubious claims, but good marketing can be persuasive.
I'm am sorry about those of you who have lost your money, but all of your contributions have made it certain that these people will definitely not be seeing any of my money. Thanks.
In common with many people, I have suffered with my investments in the stock market over the last few years. I live in Thailand and thanks to the very poor internet, I wasn't able to moniter my positions properly. Now I have a much better internet connection at home, whereas before I had to travel to an internet cafe. I have been actively trading CFDs with CMC Markets with reasonable results.
I have only been taking an interest in FX for the last 4 months. I've tried to learn as much as I can about this new adventure (for me). I'm not sure if I have just been lucky, but results have been encouraging. Too early in the learning cycle to be sure. One thing I DO know, is that I still have a lot to learn.
There have been a lot of interesting posts in this thread to give me food for thought.
Sandy, I note that you do not live in the UK, do you open your accounts online, or do you need to be in the UK to activate an account?
I also note that you have been trying various automated systems, initially done well and then discarded them. Can you think why they mostly seem to do well at first and then disappoint you?
Keep up the interesting posts.
Very interesting thread this. I received an email marketing the Concept - Fx. Being a little intrigued a search led me to this forum at page 86. It's taken some time, but I've read every post since then.
It seems that nobody posting here who has paid for the system has stuck with it and rightly so. I would have been very reluctant to part with that sort of money for a system with no guarantee and dubious claims, but good marketing can be persuasive.
I'm am sorry about those of you who have lost your money, but all of your contributions have made it certain that these people will definitely not be seeing any of my money. Thanks.
In common with many people, I have suffered with my investments in the stock market over the last few years. I live in Thailand and thanks to the very poor internet, I wasn't able to moniter my positions properly. Now I have a much better internet connection at home, whereas before I had to travel to an internet cafe. I have been actively trading CFDs with CMC Markets with reasonable results.
I have only been taking an interest in FX for the last 4 months. I've tried to learn as much as I can about this new adventure (for me). I'm not sure if I have just been lucky, but results have been encouraging. Too early in the learning cycle to be sure. One thing I DO know, is that I still have a lot to learn.
There have been a lot of interesting posts in this thread to give me food for thought.
Sandy, I note that you do not live in the UK, do you open your accounts online, or do you need to be in the UK to activate an account?
I also note that you have been trying various automated systems, initially done well and then discarded them. Can you think why they mostly seem to do well at first and then disappoint you?
Keep up the interesting posts.
stevespray
Experienced member
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Just for the record I am still trading FX swings using Concept FX. We are nicely ahead this year. As you will see some way back in the thread I started with Concept FX at the end of May 2008. Since then there has been some good profits followed by a long period of draw down followed by another series of nice proitable trades. It is important to realise that the markets went through a pretty rough patch last year and for a period of time the possible intraday swings on may swaps went through the roof and as such 'End Of Day' (EoD) type systems were bound to struggle.
I was actaully always fairly sure that the system would work itself out in the end and so far it is doing that. If you would have started with Concept FX last year at the worst possible moment (ie the yearly highs on the list of closed trades) then you would be just about breakeven some 12 months later. Personally I juggled some capital which means that I have done very well. I've also developed a small system which works alongside the Concept trades which makes good money intra day. So far, since I started with Concept FX, I am probably up by about £28,000 but that includes my extra intra day trades attached to the main ones.
All the results on the Concept FX website are 100% correct. I still check these periodically to make sure everything adds up.
All in all I remain happy.
Hope this helps,
Steve.
I was actaully always fairly sure that the system would work itself out in the end and so far it is doing that. If you would have started with Concept FX last year at the worst possible moment (ie the yearly highs on the list of closed trades) then you would be just about breakeven some 12 months later. Personally I juggled some capital which means that I have done very well. I've also developed a small system which works alongside the Concept trades which makes good money intra day. So far, since I started with Concept FX, I am probably up by about £28,000 but that includes my extra intra day trades attached to the main ones.
All the results on the Concept FX website are 100% correct. I still check these periodically to make sure everything adds up.
All in all I remain happy.
Hope this helps,
Steve.
Steve,
It sounds to me that you are using this system as one of a few tools in your arsenal. You are not following the recommendations blindly - is that right?
Maybe, and this is just a theory, the best trading robot is your own brain. You take the recommendations, but use your own powerful computer (brain) to adapt to a better way of trading. If so, there is nothing wrong with that, after all work with as much input as possible. But maybe you are not giving yourself enough credit for the way you act on these alerts.
It sounds to me that you are using this system as one of a few tools in your arsenal. You are not following the recommendations blindly - is that right?
Maybe, and this is just a theory, the best trading robot is your own brain. You take the recommendations, but use your own powerful computer (brain) to adapt to a better way of trading. If so, there is nothing wrong with that, after all work with as much input as possible. But maybe you are not giving yourself enough credit for the way you act on these alerts.
stevespray
Experienced member
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Following the system 'blindly' would still of made me a profit. It has always been my intention to build up my bank. I started initially with a smaller bank in order to get used to operation the system as it always takes time to get used to anything new. On this occasion it worked in my favour as I was able to add more funds in January which represented capital which I wasnt yet using.
I guess you are correct in a way. Once you start following a system you start to spot things. For example I noticed that trades which trigger late in the day are often weak trades when compared to trades which trigger early morning. Also trades which trigger after noon on a Friday are very poor. This means that I can pay special attention to these trade. Sometimes I will manually enter / exit these.
The results on the Concept FX website represent the results you would get if you spent 2 minutes per day running the software and placing the set up orders + adjusting stops.
Steve.
I guess you are correct in a way. Once you start following a system you start to spot things. For example I noticed that trades which trigger late in the day are often weak trades when compared to trades which trigger early morning. Also trades which trigger after noon on a Friday are very poor. This means that I can pay special attention to these trade. Sometimes I will manually enter / exit these.
The results on the Concept FX website represent the results you would get if you spent 2 minutes per day running the software and placing the set up orders + adjusting stops.
Steve.
I hope that you continue to do well with this system.
I can see that it may well have some merit. From what I have read here it seems to attempt to identify trend reversals and/or bounces off of support/resistance and that is more or less my aim in my trading.
I like the idea of using software to indentify a possible trade and will be investigating this idea further. I don't mind paying a reasonable sum, but this one is too expensive (in money terms and anxiety by all accounts!)
I will look at the thread re sniperfx and donnaforex.com and take it from there.
iclaudius0
Newbie
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Hi Sandy
Sorry to read that you've decided to abandon your bots because of the spread on the scalping system which you used.
I've recently been reading the Fap website and there appears to be a long term strategy as well as the scalping strategy. Is it possible to use the long term strategy to alleviate the spread problem?
(And while I'm at it, I've noticed that the price of Fap has doubled since yesterday. Bleeding profiteering or what?)
Sorry to read that you've decided to abandon your bots because of the spread on the scalping system which you used.
I've recently been reading the Fap website and there appears to be a long term strategy as well as the scalping strategy. Is it possible to use the long term strategy to alleviate the spread problem?
(And while I'm at it, I've noticed that the price of Fap has doubled since yesterday. Bleeding profiteering or what?)
The price has been $149 for a long time, and I am notaware of any increase. Personally I was in right at the start and did not even pay $149.
Yes, I stopped both FAPT and MegaDroid. At the time it looked like a final decision, but people are doing well still with brokers that have a small spread, so I may start up again. Unfortunately the FAPT people put a few hurdles in your way if you want to move to a different broker, which as ever comes down to $$$$ I guess. But I am not really enamoured of the scalping EAs and am always looking for other options.
I am still running Winalot and EAzeGor on a live account, but cannot show significant profit yet. It has been a difficult few weeks, given how the market has been.
I am also now running Robominer live, and will be starting London Sunrise live on Monday.
Fingers crossed. You never know!
