From 50K to $1.5M in 45 days - Here's the proof!

[Stony]

Chris Eccles is absolutely right. Trading reports based on demo accounts are close to worthless, for two reasons:

1. The psychologic factors of live trading are totally different from those of demo trading. If I could convert the profits of my demo trading into real ones, I could make a living of it easily.

2. There is a significant "broker risk" that live accounts are treated differently from demos, even by noncriminal brokers.

Personally, I only take live trading results into consideration.

Regards and happy trading!

 

[ernest8fingers]

this says it all

I certainly have my doubts that FOREX even exist for the reason found from most of you who feel so poorly about the brokerage firms being bucket shops, stop hunters,etc. What is the sense in all of this if no one can be trusted. Anyone doing well within Forex and not getting taken? I am just a beginner and may be out of line somewhat but find it hard to focus on any positive attempts/goals for the result (with brokers) will eventually go against you. The #s above are outstanding but what good is all the effort if the funds are at increased risk reguardless of who you deal with?

This is exactly the problem I face daily.I will never fully trust anything Forex.Even though my current broker has never treated me poorly or used dirty tricks(that I have noticed-and I have experience with brokers that are criminals)I would never trust them to any large size deposit(for me anything over 1000.00 bucks). I make small gains(usually) and withdrawal as soon as I can.(twice weekly sometimes-though not this week-lol)This year I am ahead at present(more out than in)but barely.I am also trading much less then in the past.I just play here-no serious investment.

 

[5of7]

I agree, you should never deposit funds more than you would be comfortable to lose. No matter who it is.

What I used to do all the time is run a mirror of my systems in a demo system as well as the live account. This way if you get a fill or quote beyond what the demo had, you can immediately go to the broker.

I know professional traders who still do this. They literally scrutinize every fill and every trade execution watching for "strange" activity, then they are on the phone immediately.

With this in mind, you can transition from a backtested result to live results. Which we all must do at some point. I have new EAs going online every week from analysis engines based on backtesting.

The last thing is an extension of your deposit amount. Never deposit more than you are comfortable to lose. Just don't bet the bank on your new EA. Therefore it also goes to say, never commit more to a new EA than you are willing to lose. So each EA, or new EA never gets the entirety of your account to play with. 1/10th at the most, even smaller if you can afford it. So no broker can hurt you, and no EA can hurt your account.

Trader 5of7

 

[MTrader]

Details

Genghis
I have read so many thousands of web pages on forex...
Yet, I have not seen what I am about to suggest - anywhere.

I never see anyone talking about: Backbone direct connect. Trading without it is ludicrous. Brokers who want the best know about it.
No one is talking about setting up on a server, direct to Backbone, using the MT 4 MultiTerminal, hooking up to other traders with MT on the same maching, so the trades are absolutely identical. Since all would be on the same maching, no wires.

I am on a 1 GB ram locked VDS with Windows Server 2008, on a Dell R-710 Server, 2 quad core processors with 72 GB Ram, $42,000.00. They have dedicated this new maching exclusively for MetaTrader. NOW, sitting on an ATT Backbone, the only choice is an ECN broker. You can run a month for 1.00. After that, with Win Server 2008, it is 42.00 a month. I have 10 MT's running and watch forums while trading and email. There is a code on the page giving a monthly discount of 10.00.
vdedicatedserver.com/metatrader.html

SO, why not contact thecollectivefx.com and request the MultiTerminal MT 4 for demo, as the MT site says it is pretty much the same interface learned in minutes. I would like to subscribe and run with it, once you see the best way to use it.

 

[MTrader]

Server

I wonder if there is an ECN/STP broker running on a Backbone? Seems they would make it a major selling point.

 

[5of7]

The key is to ask you broker what the IP of the trade server is, then position your servers close to that.

For instance, our brokerage servers are less than 10ms from the bank servers. Almost all datacenters are on backbone. Almost all, you have to ask. Then I asked each prospective datacenter for my personal servers what their latency to our trader servers are.

Many were 40ms or more. I found two that were 6-7ms. So I picked one of those. So my personal servers are ~17ms to the bank one way.

You should apply this same process to your own trading. If you employ a VPS or some-such, be sure to ask them the latency (ping time) to the servers you need to talk to. Then ask the broker what their latency is.

You have to consider the cost approach too. I have a rack of 20 servers that do data analysis for me. So those I put on a cheap, but reliable connection since I don't need ultra-speed just for analysis.

Then I have another set of trader servers that are actually for execution of trades. Since most data centers charge for the power consumption, it's best to put analysis stuff where it's cheapest, and the few trade servers where it counts.

Trader 5of7

 

[MTrader]

a real answer

Yes, ping is the thing. The banks take it for granted, and the little brokers don't talk about how to speed things up, much. This is crucial for beginners. At 6ms, you wonder if it can get faster. I saw a guy post 3ms...

The proverbial perfect trading environment... how close can we get? This is not the first I have seen. There was a trader in Indonesia who was running up 2,000.000, well, I can't recall exactly, but, way out there, hard to believe, and quickly, "...not in the real world." When the registered trader put in 5,000... poof. So, when he got them on the phone, they laughed...

Well, Genghis, keep going, run it to the top, make it happen, and we will buy you a new car! Let's hope we can find an ECN out there as good as thecollectivefx, who I see has a waiting list I hope I can get in with. I personally believe the counter position trading by dealing desks is a criminal activity, and the regulation in the US is nottin' but deregulation. It is shameful to take pennies from sometimes desperate people posting in emotions I have to turn away from. I guess it's "Let the buyer beware."

 

[5of7]

I wasn't trying to advertise the brokerage, especially since we aren't accepting new account applications. I wanted to explain the process for any brokerage. But thanks for the kind words.

Trader 5of7

 

[abdullah murtaza]

I know this is an old thread but for any one who reads it just let it be known that you just need to have a known working trading system, try different systems untill you get the one that suits you and works for you. even if you are in Demo. but dont ... repeat dont count the money. just make the steady pips per day accordiong the your system have a risk reward margin setup and you'll fly.
when i start demo about 10 years ago this is what i done. then when i went live i was still using the demo platform to make sure what im trading is the same. more like a tranferring your confidence or a tranistion.
once I was confident i totally stopped the demo.
cheers