Will this account survive the day??
- Thread starter RahmanSL
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along
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I always used LR, cheaper and convenient, If I want to use other e currency I will exchange it through exchangezone. LR is excepted by most of the brokers and HYIP programs, and it's my first choice. please check this website popularhyip.com can see that all the payment are using LR and they are investing millions with it. most of the deposit for LR is instant, exness is the only broker who offer instant withdrawal right now. I believe other brokers will follow their step sooner or later. instant mean withdrawal are made or set automatically without involvement or approval by processing department (no human interference). I think the max LR deposit charge is usd 3, if deposit small amount It take only few cents. and for withdrawal is free, can have like 100 withdrawals in a day FOC. it's a total freedom to our money
Last edited:
RahmanSL
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Hi "along",
I realized most forex broker accept fundings via Liberty Reserves, AlertPay, MoneyBookers, and a host of other e-money purse.
However, it seems each and everyone of them have client's issues which borders on being untrustworthy.
And Liberty Reserves is no different as I randomly picked a site where they are being discussed (Liberty Reserve ? largest payment processor and money transfer system. Liberty Reserve serves millions since 2002 - Home - Financial scam) and a lot of the complaints posts there are very similar to my complaints against AlertPay and MoneyBookers.
For the record, I have still not received one single reply to my (now) 5 e-mails to MoneyBookers Security Dept regarding my locked account.
All along, I thought MoneyBookers is pretty much a reliable e-purse company, but seems like I am mistaken.
After this last experience with moneyBookers, if possible, I think I will not trust my money with any more e-purse company.
P/S: In particular, read post No. 25 (at the above site link) by "spytrapper" on "Here is some good info" on the history of Liberty Reserves. Makes me even more suspicious of ALL e-purse companies.
========================================
Back to brokers!...Well, as I have mentioned, Exness being a Russian company
doesn't sit well with me at all.
But if you are happy with them, that's ok...just don't leave too much money with them. Good luck with your trading with them!
I spent the whole of yesterday afternoon (was supposed to be resting) researching other brokers and finally centered on Pepperstone (see my post at Pepperstone discussion forum here at FPA).
I have registered for a Razor account, sent all my documents, and downloaded their platform.
Now all I need is for their confirmation that my documents satisfied the Aussie's Anti-Money Laundering requirements and I will fund my account either through a local bank (RHB through Global collect) or with my trusty credit cards.
I must say, Pepperstones meet most of my requirements of what i am looking for in a Forex broker.
I guess I can only say "Pepperstone meet my expectations of a Forex Broker" only after having trade live with them for a month or so. But I will certainly post in the "Brokers Reviews" section in FPA.
=======================================
I realized most forex broker accept fundings via Liberty Reserves, AlertPay, MoneyBookers, and a host of other e-money purse.
However, it seems each and everyone of them have client's issues which borders on being untrustworthy.
And Liberty Reserves is no different as I randomly picked a site where they are being discussed (Liberty Reserve ? largest payment processor and money transfer system. Liberty Reserve serves millions since 2002 - Home - Financial scam) and a lot of the complaints posts there are very similar to my complaints against AlertPay and MoneyBookers.
For the record, I have still not received one single reply to my (now) 5 e-mails to MoneyBookers Security Dept regarding my locked account.
All along, I thought MoneyBookers is pretty much a reliable e-purse company, but seems like I am mistaken.
After this last experience with moneyBookers, if possible, I think I will not trust my money with any more e-purse company.
P/S: In particular, read post No. 25 (at the above site link) by "spytrapper" on "Here is some good info" on the history of Liberty Reserves. Makes me even more suspicious of ALL e-purse companies.
========================================
Back to brokers!...Well, as I have mentioned, Exness being a Russian company
doesn't sit well with me at all.
But if you are happy with them, that's ok...just don't leave too much money with them. Good luck with your trading with them!
I spent the whole of yesterday afternoon (was supposed to be resting) researching other brokers and finally centered on Pepperstone (see my post at Pepperstone discussion forum here at FPA).
I have registered for a Razor account, sent all my documents, and downloaded their platform.
Now all I need is for their confirmation that my documents satisfied the Aussie's Anti-Money Laundering requirements and I will fund my account either through a local bank (RHB through Global collect) or with my trusty credit cards.
I must say, Pepperstones meet most of my requirements of what i am looking for in a Forex broker.
I guess I can only say "Pepperstone meet my expectations of a Forex Broker" only after having trade live with them for a month or so. But I will certainly post in the "Brokers Reviews" section in FPA.
=======================================
Last edited:
along
Corporal
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- 174
I trade the demo with pepperstone before, but I have a problem with their funding option, at first they want to add paypal but was cancel later, I have a paypal account link to my local bank, so easy to deposit and withdraw. right now the only option to fund is using moneybookers so I have to postpone this broker wait and see if they will add another payment option in the future.
well anyway good luck to you
well anyway good luck to you
Last edited:
RahmanSL
Major
- Messages
- 2,934
Last time I checked (like a few minutes ago), funding & withdrawal options are :
1) Credit Cards
2) MoneyBookers (which I am NOT going to use)
3) Bank wire transfer
4) Broker to Broker (Alpari/IBFX Australia/FXCM/Forex.com)
5) Local Bank Transfer (non Australian banks) - 57 countries
Also, if signing up via the AsianGroup IB, I get monthly trade rebates.
So, for us in Malaysia, the local bank transfer option should be great since the fees are very minimal. But I would also fund by Credit Cards coz it only takes 30mins to 1 hour.
Ok, keep in touch!
1) Credit Cards
2) MoneyBookers (which I am NOT going to use)
3) Bank wire transfer
4) Broker to Broker (Alpari/IBFX Australia/FXCM/Forex.com)
5) Local Bank Transfer (non Australian banks) - 57 countries
Also, if signing up via the AsianGroup IB, I get monthly trade rebates.
So, for us in Malaysia, the local bank transfer option should be great since the fees are very minimal. But I would also fund by Credit Cards coz it only takes 30mins to 1 hour.
Ok, keep in touch!
RahmanSL
Major
- Messages
- 2,934
I have closed the earlier account (at a slight loss) and restarted an ECN account with another broker to test out their MT4 platform which they claimed is all that bla-bla-bla and this-and-that. But, their platform is not as claimed and is even worst than some of the other brokers that I have used. However, they are ASC registered and so that compensated somewhat for their…well…lousy platform…or server provider, as they claimed.
Initial Deposited usd1,200 …received in account usd1,164
Decided to trade exclusively on EUR/USD since both currencies are in equally bad shape with shaky economies (but couldn’t resist making some quick profitable trades on Silver too).
Initially, traded/scalp with 0.01 lot sizes on both short & long and took cents profit. But then, noticing charts moving in waves and went in with 0.10 lot sizes and started scalping profits in dollars instead of cents.
But, as usually happens when over confidence kicked-in, before I know it, I had three 0.1 lot sizes, half dozen in 0.05 lot sizes, and around twelve ranging from 0.01 to 0.03 lot sizes all on Long. Market was reversing and was dropping fast and, realizing this, I started opening short positions and followed the market down, taking both short & long positions with profits.
My initial daily target was a modest 5% profits, but at the end of the trading session, my profit was up by slightly over 35%. However, those losing long positions were a major concern to me, but I thought that as long as I compensated the losses by hedging them, my account would be safe. So, that was end of first day.
BUT…to cut a long2 story short…I funded and re-funded the account 4 times bringing the total deposit to USD2,512.16…But after having brought up the account to around USD2,899, again to cut a very long story short, made some very bad judgment on rising EUR/USD, I got 16 “Margin Calls” in my MT4 Platform “Mailbox” and 2 “Stop Out” which reduces my trading account drastically.
I managed to survive a third “Stop Out” (which would certainly have wiped out the account) by closing the largest losing positions and taking losses until the Margin Level is back on a relatively safer level. I then sat it out until the EUR/USD went on down.
By then, my account was left with around USD750 or so and, again to cut a long2 story short, I scalped like hell and finally managed to bring the account to USD1,211 with a relatively safe Margin Level by end of Friday market closing.
So, my account did survived total wiped out (albeit added by those emergency re-fundings), but it survived the first week but with total losses of 50.04% with some losing short EUR/USD trades at USD98.28
Next week, and those following after, should be pretty interesting as I planned my path to bring that account (according to my planned schedule) to around USD2,500 with a modest 15-16% daily gains (I was averaging over 30% at the start of last week).
BUT, I know the figure can get up pretty fast if opportunities arises….and if only I can simply close those winning positions and not get caught out with sudden trend reversals…like the EUR/USD did when it shot up while I was….of all things…taking a nap.
Last time I checked, my account was showing a very healthy Equity Level with lots of winning short positions which I thought to let ride to my “greedy” TP level. But when I woke up, my trading platform was showing the dreaded bright crimson pink color and that’s when I had to carry out the emergency damage control measures to save the account.
Phew! What a week!...So, anybody else had such fun-filled trading week like mine????
Initial Deposited usd1,200 …received in account usd1,164
Decided to trade exclusively on EUR/USD since both currencies are in equally bad shape with shaky economies (but couldn’t resist making some quick profitable trades on Silver too).
Initially, traded/scalp with 0.01 lot sizes on both short & long and took cents profit. But then, noticing charts moving in waves and went in with 0.10 lot sizes and started scalping profits in dollars instead of cents.
But, as usually happens when over confidence kicked-in, before I know it, I had three 0.1 lot sizes, half dozen in 0.05 lot sizes, and around twelve ranging from 0.01 to 0.03 lot sizes all on Long. Market was reversing and was dropping fast and, realizing this, I started opening short positions and followed the market down, taking both short & long positions with profits.
My initial daily target was a modest 5% profits, but at the end of the trading session, my profit was up by slightly over 35%. However, those losing long positions were a major concern to me, but I thought that as long as I compensated the losses by hedging them, my account would be safe. So, that was end of first day.
BUT…to cut a long2 story short…I funded and re-funded the account 4 times bringing the total deposit to USD2,512.16…But after having brought up the account to around USD2,899, again to cut a very long story short, made some very bad judgment on rising EUR/USD, I got 16 “Margin Calls” in my MT4 Platform “Mailbox” and 2 “Stop Out” which reduces my trading account drastically.
I managed to survive a third “Stop Out” (which would certainly have wiped out the account) by closing the largest losing positions and taking losses until the Margin Level is back on a relatively safer level. I then sat it out until the EUR/USD went on down.
By then, my account was left with around USD750 or so and, again to cut a long2 story short, I scalped like hell and finally managed to bring the account to USD1,211 with a relatively safe Margin Level by end of Friday market closing.
So, my account did survived total wiped out (albeit added by those emergency re-fundings), but it survived the first week but with total losses of 50.04% with some losing short EUR/USD trades at USD98.28
Next week, and those following after, should be pretty interesting as I planned my path to bring that account (according to my planned schedule) to around USD2,500 with a modest 15-16% daily gains (I was averaging over 30% at the start of last week).
BUT, I know the figure can get up pretty fast if opportunities arises….and if only I can simply close those winning positions and not get caught out with sudden trend reversals…like the EUR/USD did when it shot up while I was….of all things…taking a nap.
Last time I checked, my account was showing a very healthy Equity Level with lots of winning short positions which I thought to let ride to my “greedy” TP level. But when I woke up, my trading platform was showing the dreaded bright crimson pink color and that’s when I had to carry out the emergency damage control measures to save the account.
Phew! What a week!...So, anybody else had such fun-filled trading week like mine????
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along
Corporal
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- 174
salam,
Must be some sort of pepper I guess
, well OK as long as you can survived your account. can see that you are opening small size trade which is look good to me but the problem is to many trades are running at one time is not healthy. should focus on one trade with stop loss is better for scalping. Rahman please check this website eurextrade, see their trading reports, they are scalping the market, some sort of skill that I would like to practice and master with it.
god help you in making more money don't worry, c u
Must be some sort of pepper I guess
, well OK as long as you can survived your account. can see that you are opening small size trade which is look good to me but the problem is to many trades are running at one time is not healthy. should focus on one trade with stop loss is better for scalping. Rahman please check this website eurextrade, see their trading reports, they are scalping the market, some sort of skill that I would like to practice and master with it.god help you in making more money
don't worry, c u
RahmanSL
Major
- Messages
- 2,934
Hi along,
Ok, I will check out that site youn mentioned.
Those "small size' trades are the remainder of those losing short trades which I have to closed and some halved in order to salvage my account when it was under threat of account stop out,
I left these short positions running because first, they are small lot sizes, and second, i believe the EUR/USD is bearish for early next week due to too many uncertainties surrounding the euro zone. In the event I see market is not with me on Monday, I will have no hesitation in closing them all out at losses.
My problem began when I was making lots of profitable trades in lot sizes ranging from 0.01 to 01 lot sizes (and even a few 1.0 lot size too when i see a clear trend) and then becomes complacent and overconfident that I have read market trend correctly.
Then, instead of closing profitable trades when I should, I would start to leave them open to have the TP triggered for larger profits. My problem started when I was not attending to these open trades as I was overtly confident that the EUR/USD is on a bearish mood and so I took a nap.
Ok, I will have to be more careful next week as I think i have learned my lessons for this week.
Alright, have a gooooood week end!
Ok, I will check out that site youn mentioned.
Those "small size' trades are the remainder of those losing short trades which I have to closed and some halved in order to salvage my account when it was under threat of account stop out,
I left these short positions running because first, they are small lot sizes, and second, i believe the EUR/USD is bearish for early next week due to too many uncertainties surrounding the euro zone. In the event I see market is not with me on Monday, I will have no hesitation in closing them all out at losses.
My problem began when I was making lots of profitable trades in lot sizes ranging from 0.01 to 01 lot sizes (and even a few 1.0 lot size too when i see a clear trend) and then becomes complacent and overconfident that I have read market trend correctly.
Then, instead of closing profitable trades when I should, I would start to leave them open to have the TP triggered for larger profits. My problem started when I was not attending to these open trades as I was overtly confident that the EUR/USD is on a bearish mood and so I took a nap.
Ok, I will have to be more careful next week as I think i have learned my lessons for this week.
Alright, have a gooooood week end!
along
Corporal
- Messages
- 174
thanks bro for checking it. they been doing this scalping for almost a year. I did invest my money with them, compounding it and let it run. I still trying to adopt their method of trading, to learn how they keep maintain doing this for a long time with small lost on the account. only a very pro trader can keep maintain this kind of trades without hesitate to cut the lost if the price is against and they are very successful on doing it in short time. short time mean low risk.
c u
c u
Last edited:
RahmanSL
Major
- Messages
- 2,934
Ok along, I have checked out that site you mentioned.
Their account size is impressive, but trade wise, very similar to most scalping techniques employed by many scalp traders.
In fact, there are a whole bunch of manged accounts which you can view too at FPA in top left hand under "PERFORMANCE TEST" in "Managed Forex Tests".
I have a couple of funds managers e-mailing their weekly trade records to interest me and one of them looks pretty impressive.
However, I prefer to trade myself as one day very soon, I intent to do nothing else but trade from Monday to Friday....or maybe only to Thursday.
So far, I have learned how to deal with huge account draw down, total account wipe out, margin calls, stop out, to cut losses when faced with the inevitable, to use hedging trades to balance out huge losses....well, I think I am getting the hang of it trading forex without fear of losing.
As my byline says, "Making profit is easy, but keeping it, is not (easy)".
This is what I have found to be all so true with forex as money can be made, and lost, in seconds.
Hang in there my friend, and do not be afraid of the market, but make it your true love with all the passion and intimacy, and it will love you back in return!
Their account size is impressive, but trade wise, very similar to most scalping techniques employed by many scalp traders.
In fact, there are a whole bunch of manged accounts which you can view too at FPA in top left hand under "PERFORMANCE TEST" in "Managed Forex Tests".
I have a couple of funds managers e-mailing their weekly trade records to interest me and one of them looks pretty impressive.
However, I prefer to trade myself as one day very soon, I intent to do nothing else but trade from Monday to Friday....or maybe only to Thursday.
So far, I have learned how to deal with huge account draw down, total account wipe out, margin calls, stop out, to cut losses when faced with the inevitable, to use hedging trades to balance out huge losses....well, I think I am getting the hang of it trading forex without fear of losing.
As my byline says, "Making profit is easy, but keeping it, is not (easy)".
This is what I have found to be all so true with forex as money can be made, and lost, in seconds.
Hang in there my friend, and do not be afraid of the market, but make it your true love with all the passion and intimacy, and it will love you back in return!
