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Recruit Reign Reporting For Duty

Discussion in 'Personal Trade Journals' started by Reign, Oct 17, 2009.

  1. Reign

    Reign Corporal

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    Mission:
    To determine who can be trusted in this Forex Market.

    First of all, let me say that I'm completely disappointed with the lack of professionalism in this market currently. I consider myself to be a business man, and I hold myself to high standards, and I expect the same of others. I've noticed that there's a surplus of unnecessary brokers in this Market, and it's about time that someone goes and cuts through all of the BS to get to the truth.

    There will be no biased opinions on my part, so ALL Brokers are at risk.

    The Story:

    3 weeks ago, I was a complete newbie to the FOREX world. I fell for the extravagant website design of IBFX, and signed up. This was before I found out about FPA. Not only that, but the whole reason I decided to get into the market was because I was taken in by the EA market out there. "Turn $50 into $5000 in 3 weeks", more like turn $50 into 50 cent in 3 weeks. If you're new, and don't know anything about Micro Accounts, then you should do your research.

    So, I no longer depend on EA's to make winning trades, I took the time to research the Forex market myself. After a few dozen headache's, I've developed some pretty good tactics. Being that I'm a math geek, I feel right at home with Forex. Seems like something I'll be doing for a long time, but in order for that to happen, I need to find a reputable broker. That alone seems harder than making winning trades in the market.

    Even though I have about 25% faith in EA's, I don't hate them all. As time goes on, I'll report on EA's that I've used in the past, and EA's that I'm currently using, or plan on using.

    Until then, Happy Trading,

    Over & Out ;)
     
  2. Reign

    Reign Corporal

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    Did some thinking....

    Greetings fellow traders :),

    Well, after some careful consideration and thinking, I've decided to not open another live account right now until I master the trading system that I'm learning on a demo account. Not only that, but I have to save up enough to actually open a standard account while being able to trade while only using 2.5% of my income.

    In the mean time, I've also come to the conclusion that I'm done with EA's. All EA's. I don't trust them anymore. Not only that, but I don't like leaving my financial future in the hands of something that knows more than I do. So, I've decided to study the Forex Market for another 5 months before I go Live in March of next year.

    Not only that, but during that time I'll have more than enough time to find a reputable broker, while keeping my eye on the ones that are promising that have come out now.

    So, with that said, I'll try to keep this thread updated as much as possible.

    Happy Trading to all and to all a very profitable night,

    Reign ;)
     
  3. Reign

    Reign Corporal

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    By the way,

    I suggest the Trading System by Russell Horn. It's called Forex Rebellion, and it's a great path to follow while starting out in the Forex Market. Of course I'm doing this as a public service instead of pointing you to a website where I would get paid for telling you about it and having you click on the link to purchase it. It'll only cost you $97.00, but it's worth $9,700.00 IMO. Check it out, it's a great tool to have in your toolkit.

    Over & Out...
     
  4. Gaffled

    Gaffled Recruit

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    I wouldn't dismiss all EAs in general, although I will be the first to agree that there are tons of scammy ones out there. I have had pretty good success with MegaDrioid...it makes at least $1K a month for me on a $10K live account. I have also been thrilled to death with Forex.com UK, no problems at all including withdrawing money. I have also had wonderful success with a signal service called Forex Gator. I am very wary of so many of the products and systems and scams out there, so it is refreshing to find things that actually work and are profitable.
     
  5. Reign

    Reign Corporal

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    Yeah, I'm like that too. I just think that means that we're better investors because of that Wary attitude. The Forex Rebellion system is actually pretty good though. It's not that simple, but it's understandable. With a little work, it can be mastered.

    It's not that I hate all EA"s, but when I get to the point where I don't need to depend on one anymore, I'll invest in one.


    Forex.com UK huh? So I take it that the US version isn't any good?
     
  6. Reign

    Reign Corporal

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    Well, just an update, I've been with TheCollectiveFx for a while now, and I have nothing but the utmost respect for them. Still trading using the Fx Rebellion system, and I can't really say that I'm becoming the Investor I thought I would be right now, but I'm not giving up. Getting another job just to fund my account.

    "In order to have what you've never had, you have to do what you've never done."
     
  7. Reign

    Reign Corporal

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    Don't want to speak to soon, but I'm developing a scalper strategy that's actually starting to be profitable. (Literally knocks on wood, lol)
     
  8. Reign

    Reign Corporal

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    Finally started making money, and I'm sure I'm not the only one when I say that I'm starting to hate Fridays, and that I'm starting to love Sundays, lol. Can't trade on the weekends, but I have to say that after all this time of reading, doing the math, and losing money, I'm finally becoming pretty good at this. Shedding my Newbie title little by little every day now.
     
  9. Reign

    Reign Corporal

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    Had a shaky start with the EUR/USD which led to me not trading for a good hour or two. I'll be glad when I hit this level of god-head when money doesn't control my emotions when it comes to trading. The EUR/JPY is looking like it wants to go long, along with the EUR/USD at the same time.

    7:10 am, lets see how this plays out.
     
  10. Reign

    Reign Corporal

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    Still waiting on the EUR/JPY to go long, but it's not doing that at the present moment. Seems like if you caught this Bearish wave, you're having a very nice ride.....

    7:55am Est.
     

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