Best software and some general questions

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Cyrillic
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Best software and some general questions

Postby Cyrillic » Sun Jul 12, 2009 4:27 pm

Hello my name is Phil and I am a new trader, but than everyone that isn't making what they should be is a new trader :) I have been using deal book 360, for my trading until i ran into a thread about this community in baby pips. After doing some reading, i would like to confirm my understanding with some of the more experienced members.
1. I should switch to MBT because they charged fixed commission instead of greedily devouring my pips on every trade.
2. You wait for price to climb towards its general high in a certain time frame than you sell and the opposite.
3. I do not understand the point of indicators, can't you just imagine the support resistance lines and cat accordingly.
4. There is no difference whether to play on hourly candles or 30, 15, 5 candles correctly buying and selling on each could yield potentially good pip count.
5. Trading is simple.
I have been able to lock on some steady profit, i can make anywhere from 40 - xxx pips day just by watching charts and making logical calls on situations. However i was not able to apply my knowledge of your system so far. However i do not understand all the complicated mambo jumbo and over educated analysis of people that mange other peoples money. So i really hope to get some support from this community as you guys seem like really helpful and nice people. Could i get some comments of what software should i use, i have downloaded and installed MBT meta trader and their other software however im an uncertain which one i should use.
A great big thank you to anyone that responds to my thread.
Phil.

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dragon33
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Re: Best software and some general questions

Postby dragon33 » Sun Jul 12, 2009 5:34 pm

Cyrillic wrote:Hello my name is Phil and I am a new trader, but than everyone that isn't making what they should be is a new trader :) I have been using deal book 360, for my trading until i ran into a thread about this community in baby pips. After doing some reading, i would like to confirm my understanding with some of the more experienced members.
1. I should switch to MBT because they charged fixed commission instead of greedily devouring my pips on every trade.
2. You wait for price to climb towards its general high in a certain time frame than you sell and the opposite.
3. I do not understand the point of indicators, can't you just imagine the support resistance lines and cat accordingly.
4. There is no difference whether to play on hourly candles or 30, 15, 5 candles correctly buying and selling on each could yield potentially good pip count.
5. Trading is simple.
I have been able to lock on some steady profit, i can make anywhere from 40 - xxx pips day just by watching charts and making logical calls on situations. However i was not able to apply my knowledge of your system so far. However i do not understand all the complicated mambo jumbo and over educated analysis of people that mange other peoples money. So i really hope to get some support from this community as you guys seem like really helpful and nice people. Could i get some comments of what software should i use, i have downloaded and installed MBT meta trader and their other software however im an uncertain which one i should use.
A great big thank you to anyone that responds to my thread.
Phil.


If you are trading with a live account you should have at least two feeds!
The software you choose is your choice. If you are happy with dealbook you should stay there, if you had issues with them you should leave.
In this forum you can ask wathever you like there will be always an answer.

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Postby Cyrillic » Sun Jul 12, 2009 5:56 pm

Thank you for your speedy response :)
Could you define two feeds? Do you mean 2 charts open at the same time

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Postby PTG » Sun Jul 12, 2009 6:38 pm

Cyrillic wrote:Thank you for your speedy response :)
Could you define two feeds? Do you mean 2 charts open at the same time


Two feeds as in from two different sources, to create a situation where one doesn't become stuck in case one of these two sources stops working correctly.

In fact it would be best to create a system with redundant physical media as well, e.g. to rule out failure of the DSL line. That also goes for a power backup.

Imagine yourself a situation where you have umpteen lots invested, and where you were about to put in a s/l or t/p but couldn't because of a glitch in the equipment that you use :shock:

You wouldn't be the first one to lose far more money than it costs to avoid this from happening.

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Postby PTG » Sun Jul 12, 2009 6:42 pm

Oh and by the way. I use the MB Trading MT4 feed and the ATC feed, which are almost identical. I trade with Navigator with TRO as IB.

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Postby Cyrillic » Sun Jul 12, 2009 8:06 pm

PTG wrote:
Cyrillic wrote:Thank you for your speedy response :)
Could you define two feeds? Do you mean 2 charts open at the same time


Two feeds as in from two different sources, to create a situation where one doesn't become stuck in case one of these two sources stops working correctly.

In fact it would be best to create a system with redundant physical media as well, e.g. to rule out failure of the DSL line. That also goes for a power backup.

Imagine yourself a situation where you have umpteen lots invested, and where you were about to put in a s/l or t/p but couldn't because of a glitch in the equipment that you use :shock:

You wouldn't be the first one to lose far more money than it costs to avoid this from happening.

Very well noted, i am planning on getting several alternate connections at the moment, right now i am trading a joke lot of 1k, as soon as i make 10k from it I'll put in 50k and start trading seriously. The idea for double feeds is very good, I'll try to implement it into my trading. (usually when my feed goes down or i lose my connection i got enough limit orders to work through or i cross my fingers and pray :P) I would like to thank you very much for your help, since i sincerely believe that it is possible for me to learn a lot from all of you. Still trying to get forexeducated thou since it is still hard for me to comprehend some of the pip speak and the rest of bells and whistles..

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Postby PTG » Sun Jul 12, 2009 9:38 pm

Cyrillic wrote:
PTG wrote:
Cyrillic wrote:Thank you for your speedy response :)
Could you define two feeds? Do you mean 2 charts open at the same time


Two feeds as in from two different sources, to create a situation where one doesn't become stuck in case one of these two sources stops working correctly.

In fact it would be best to create a system with redundant physical media as well, e.g. to rule out failure of the DSL line. That also goes for a power backup.

Imagine yourself a situation where you have umpteen lots invested, and where you were about to put in a s/l or t/p but couldn't because of a glitch in the equipment that you use :shock:

You wouldn't be the first one to lose far more money than it costs to avoid this from happening.

Very well noted, i am planning on getting several alternate connections at the moment, right now i am trading a joke lot of 1k, as soon as i make 10k from it I'll put in 50k and start trading seriously. The idea for double feeds is very good, I'll try to implement it into my trading. (usually when my feed goes down or i lose my connection i got enough limit orders to work through or i cross my fingers and pray :P) I would like to thank you very much for your help, since i sincerely believe that it is possible for me to learn a lot from all of you. Still trying to get forexeducated thou since it is still hard for me to comprehend some of the pip speak and the rest of bells and whistles..


Thank you sir 8)

You will find everything you need in this great community full of people with open minds, just like I did. The only thing it requires is to be open yourself and actively search for what you're looking for, without demanding to be spoon-fed, which doesn't fly in here :lol:

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Postby Cyrillic » Sun Jul 12, 2009 9:51 pm

I know that, i have been actively reading the forums for the past few days (as soon as i found them) I wish not to be spoon fed, because it is the hard earned knowledge which stays with you, this is why i prefer to elevate my confusion through constant reading and rarely ask questions, only to make sure I'm on the right track (i get carried away and end up inviting my own techniques some are good some are..) Once i again i thank you all for your support :))

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Does anyone use Maestro as a trading tool on MT4 platform??

Postby petepete8859 » Thu Jul 23, 2009 3:53 pm

Hi...
Brand new trader. trade with a micro account using forexmicrolots. Just opened up a demo account using Maestro software on the MetaTrader4 platform. It seems to be doing ok so far on the demo account, but I'm wondering if anyone uses it on a real account. Thanks.

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Petepete, Maestro is a EA auto robot scam. Get money back

Postby craigthinks » Thu Aug 20, 2009 6:44 am

Petepete, Maestro is a EA autotrading robot scam. Get your money back ASAP

Pete pete pete pete pete
Maestro is a EA autotrading robot scam. Get your money back ASAP if possible. See report on forex system reviews link below. There are so many scams and lies in the forex community it surprises me. Just outright lies, broker just stealing money from people. EA?s with different variable for different years so it back test well. The list goes on and on.

I am new to Forex and I just bought a robot and have run it. Anyway, if your going to trade with robots in my opinion, look at several sites that have backtesting and forward tested them. Some are forward testing on live (real money accounts). You can pick from one of them, but most importantly, rule most of them out. Some robots you rent buy the month, some VPS (virtual private servers) have them.

After you pick out a robot, then you have to find a good broker that can run your robot?s EA. The EA is runs worst in most cases on a live account. This reminds me of the times a few years ago on a stock filtering program, I could get 1000% returns in a year TRO will remember. But you could not get them as the volume was not there to buy the stocks. Take FABturbo, sold 30,000 copies, what happens, when 10,000 FABturbo set to the default settings try to buy the same pair at the same time? Spikes the system and many people don?t get in or get in to late. Also, may brokers area running the FABturbo and will trade against you.

For a scalping robots you should have a fast VPS near the brokers server, say low lag <20-30ms VPS. A good VPS should know the approximate lag to a broker. Unless the robot is a swing or grid, then the lag does not matter as much.

Some robots will make money on one broker, and loss money on another broker.

Petepete, for a good list of brokers and ratings see ForexPeaceArmy.com, but some poor rating on good brokers. There are dealing desk brokers and ENC brokers both good and bad. ECN are usually the best, but some have high spreads. There are also introducing brokers, some offer trading and ad a pip in the spread, some you give you extra money like cashbackforex.com but you don?t trade through them, just get cash back on trades or software, trading signals, etc. Ask the broker if the Demo. Account has the same data feed as the real live accounts. Most do not, but the better, honest ones do.
That is what craigthinks.

www.4xrobots.com/robot_reviews.htm, www.forex-systems-reviews.com, www.Donnaforex.com , www.4xproject.com

http://forex-systems-reviews.com/images/maestro.jpg,

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