Bought FAPTurbo then get a Phone Call...

mgg523

Recruit
Messages
8
Good Luck Jack

I agree except. There are the big bots that work in all market conditions and turn 10k into 100k+ in a month.

I'm using the bot while I learn fx trading, and it's not on a live account, yet.
But be sure to share your experiences after you trade live with that bot.

Plebo:)
 

ChrisEccles

Private, 1st Class
Messages
47
....how can you help or enlighten if somebody would just throw whims.
I'm not sure, mgg523, whether you meant that I was throwing whims into
the arena or not ! I can assure you that what I post, here and elsewhere, is
the result of carefully considering what I really feel to be the case.
-
The history of "schemes" which purport to have discovered loopholes in
quasi-random behaviour is lamentable, and range from horse-racing
betting systems through lottery permutation plans, roulette fixes which
guarantee to beat Las Vegas, right up to and including Forex robots.
-
The market is driven by human endeavour and human political sentiment.
Only by the application of human intellect, therefore, will the actions of
the market become predictable. Robotic analysis can only fall back, at
its very best, on past pattern recognition and extrapolation. Even within a
clearly defined trend line, this is as fallible as raindrops on a windshield.
Looking down on a busy commuter railway station on a weekday evening,
even if you know for certain that 40% of the guys board the Westbound
bus and 60% the Eastbound, you still have no way of saying with any
degree of certainty which bus any ONE guy will step up to.
-
Using human judgement, experience and risk management, it is possible
(but unlikely) to make $100 a day from a $2000 mini-account. This does
not mean that one could EVER, in a zillion years, discover and quantify
the sequence of actions which made that happen, and design something
mechanical which repeated it consistently, any more than one could
listen to a Beethoven symphony and then design software to write
symphonies.

-
Chris
 

mgg523

Recruit
Messages
8
So what have you got to share?

I'm not sure, mgg523, whether you meant that I was throwing whims into
the arena or not ! I can assure you that what I post, here and elsewhere, is
the result of carefully considering what I really feel to be the case.
-
The history of "schemes" which purport to have discovered loopholes in
quasi-random behaviour is lamentable, and range from horse-racing
betting systems through lottery permutation plans, roulette fixes which
guarantee to beat Las Vegas, right up to and including Forex robots.
-
The market is driven by human endeavour and human political sentiment.
Only by the application of human intellect, therefore, will the actions of
the market become predictable. Robotic analysis can only fall back, at
its very best, on past pattern recognition and extrapolation. Even within a
clearly defined trend line, this is as fallible as raindrops on a windshield.
Looking down on a busy commuter railway station on a weekday evening,
even if you know for certain that 40% of the guys board the Westbound
bus and 60% the Eastbound, you still have no way of saying with any
degree of certainty which bus any ONE guy will step up to.
-
Using human judgement, experience and risk management, it is possible
(but unlikely) to make $100 a day from a $2000 mini-account. This does
not mean that one could EVER, in a zillion years, discover and quantify
the sequence of actions which made that happen, and design something
mechanical which repeated it consistently, any more than one could
listen to a Beethoven symphony and then design software to write
symphonies.

-
Chris
Alright, you may be making your point. But who is not using a computer to trade? Are you a trader? Those platforms are made out of computer programs with specific language used. So what have you got to share? Anything from your side which could be benificial to anyone? All proffessional traders are advising to watch thier money management and you are kind enough to remind us that.

Now, if you have the guts.....could you please share SOMETHING which can make all profitable. Dont sound like you are perfect.
 

ChrisEccles

Private, 1st Class
Messages
47
Now, if you have the guts.....could you please share SOMETHING which can make all profitable. Dont sound like you are perfect.
Hey, I don't have any secret weapons, man !
-
All I'm saying is that, with a very high probability, these "scheme" guys
don't have them, either.
-
I have a mini-account. I have gaining days and I have losing days.
I trade largely on breakouts from the major releases. Sometimes I open
a position well before the release if my homework tells me the release
will go a certain way; other times I hop on the bus once the trend begins.
-
The point I'm making is that THIS IS THE WAY I TRADE, for me.
Not necessarily for you, or anyone else, but what I do (and I guess 90%
of successful pro traders, too) is not able to be quantified and emulated
by any piece of predictive software.
-
What are my trading rules ?

Set stoploss where it tells you you're wrong, not where it will lose what
you think you can afford.

Adjust the breathing room of a trade while it progresses. Trailing 3 ATR's
behind a move is great at first, but rein that in as the trend shows up.

Once you are moving, compound your lots every time you can still make
your stop go home with some decent money. Eg: You're 60 pips up with
2 lots, so go 2 more and trail the stop at 15. When that trade is 40 more
pips up, add another 4 and trail for same profit. At the reversal, you don't
need to worry about any exit strategy - it's there already.

NEVER in your life add to a losing position.

I add 3.8% a week to my account following these disciplines but if
someone shows me a piece of code which can "use" my rules, I'll buy
them a large beer.

-
Chris
 

Jaack

Private
Messages
14
Since I'm still a newbie I like to think I can glean profits from others systems. FAPTurbo is doing ok, but this LMT Forex Formula [LMTFF] I bought yesterday is outperforming FAPT.

My first two trades were losses and my fault completely for not following the guidelines but since then all my trades have been positive. And my drawdowns are also my fault. Hey I'm getting used to trading on the 4hr or 1 day charts with candles. I didn't wait for the close of the candle to enter, big mistake on my part.

Now I cannot call this a review or anything for two reasons.

1. It's a demo account
2. I have no idea what I'm talking about so don't listen to me.

The book for LMTFF leaves a lot to be desired. even the videos leave some to be desired. The FAQ is pretty good, but the template -- the part you're really buying -- is great. IMHO.

The idea is what I was looking to accomplish in the first place and that is follow the trends. Scalping may have its uses but seems like a waste of time to me. Why take 10-40 pips when you can see the market is going in one direction for 100's to 1,000's of pips? That to me seems to be the way to make the $ in forex. IMHO. see disclaimer #2.

Here's the link. I have nothing to gain from sharing this whatsoever. I am Sgt. schultz on all this, I know nothingk, nothingk!

L.M.T Forex Formula

I may move this to a different forum when I figure out the correct one. If I do I'll leave a link.
 

mgg523

Recruit
Messages
8
Hey, I don't have any secret weapons, man !
-
All I'm saying is that, with a very high probability, these "scheme" guys
don't have them, either.
-
I have a mini-account. I have gaining days and I have losing days.
I trade largely on breakouts from the major releases. Sometimes I open
a position well before the release if my homework tells me the release
will go a certain way; other times I hop on the bus once the trend begins.
-
The point I'm making is that THIS IS THE WAY I TRADE, for me.
Not necessarily for you, or anyone else, but what I do (and I guess 90%
of successful pro traders, too) is not able to be quantified and emulated
by any piece of predictive software.
-
What are my trading rules ?

Set stoploss where it tells you you're wrong, not where it will lose what
you think you can afford.

Adjust the breathing room of a trade while it progresses. Trailing 3 ATR's
behind a move is great at first, but rein that in as the trend shows up.

Once you are moving, compound your lots every time you can still make
your stop go home with some decent money. Eg: You're 60 pips up with
2 lots, so go 2 more and trail the stop at 15. When that trade is 40 more
pips up, add another 4 and trail for same profit. At the reversal, you don't
need to worry about any exit strategy - it's there already.

NEVER in your life add to a losing position.

I add 3.8% a week to my account following these disciplines but if
someone shows me a piece of code which can "use" my rules, I'll buy
them a large beer.

-
Chris
I respect you strategy as well as all other traders out there. What your doing is a common practice and being done by many successful traders. If you dont believe in "predictive programming" or "detective programming", I respect that too. I wont even convince anyone to use one but before you can make your 3.8% a week into 30-45%, I have long gone for a vacation in Paris.

Guys, I would like you to know that Im not a part of any promotional schemes of any trading software. Im just a guy with an open perspective and who likes to experiment with diffirent things...a guy who is looking whats possible and whats not...for ME.
 
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