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[MickMason]

Originally Posted by Knoxy

Also the slope of Juriks RSX is interesting.

I looked at using their DMX at one time and was quite impressed, I expected to pay for the 'less lag' with false sìgnals in ranging markets but surprisingly that wasn't the case.

Don't listen too much to unsuccessful traders who say impossible, they are after all, unsuccessful.

lol, you hit the nail.......


Best of luck with automatìon, sorry I can't offer anything constructive but movìng averages aren't really my 'thing'.


Mick

[lamode]

Can you really make a living from FX ?

after almost a losing year, i think paid all the lessons, i finally found and modified a system that i can follow as well as 2 hedge strategies. i person believe the important thing is not about those systems, its about knowing when to stop, when to trade and money management.

Hopefully i can stand up, breath out and say i am a profitable trader by the end of 2006.

[Knoxy]

Some brief answers to a couple of things. I agree with Lamode money management important. That's why I'm still only trading 1 lot with an account around 50k. Most folk seem to trade too large a chunk of account.

I exit the longer trade on an HMA turn when SMI is approaching an extreme. As I said, my method is mostly visual, a bit 'touchy feely' which I'll have to kill when automating.

Once trade heading in the right direction I adjust stop to breakeven. Usually when 80 - 100 in profit but depends on volatility. Good trades usually move away quickly.

A couple of closes below HMA is enough for me to get out of some trades where the pair has a history of reversing whenever this happens. Some pairs zigzag either side of the HMA though, just part of their personality. But where there is turn in HMA, its always preceeded by closes signalling this. Its in the maths of the indicators.

Large spikes as on Friday are a pain in the neck for any medium term strategy. Strategies based on the timeframes we're talking have to be medium to long term. Sometimes you gain by spikes, sometimes lose. I stick to what HMA and SMI are telling me and don't reverse on spikes. Luckily I'd done well last week and exited everything on Thursday (work pressure, I develop wind farms and life is hectic).

I'm hoping to sit down this weekend and write myself a rigid set of rules and do the back testing.


Cheers
Dave

[One]

I spend most of my time choosing my trades "This One or that One" in almost 2 years of trading expierence which i have most of the time i am away from the market and waiting for an opportunity to knock on my door and think twice to enter the trade. This way i keep my losses to minimum and still enjoy trading.

[tstmarkt]

Thank you all for so many awesome posts and a treasury trove of great information.

I feel really good about my market skills and feel very strongly that if I have the Capital and time to trade US market; I could trader full time and do very well.

My biggest problem is that I have a certain responsiblies that force me to keep my corporate job for now which is good (100k salary yr) until the kids get a older and I can build up my current account more.

So I can only trader during EUR time 2-5 AM EST then off to work!

[One]

Originally Posted by tstmarkt

Thank you all for so many awesome posts and a treasury trove of great information.

I feel really good about my market skills and feel very strongly that if I have the Capital and time to trade US market; I could trader full time and do very well.

My biggest problem is that I have a certain responsiblies that force me to keep my corporate job for now which is good (100k salary yr) until the kids get a older and I can build up my current account more.

So I can only trader during EUR time 2-5 AM EST then off to work!

i thank you for asking such a simple and good question i read this thread and there are very good replies and information posted by members which is helpfull for everyone.


One.

[Knoxy]

For those that don't have in MT4 here's SMI from forex-tsd:

http://www.forex-tsd.com/indicators-...tor-index.html


Use the mq4 file posted by NewDigital on page 1. As I say, I use 42,9,5 with signal 9 (5-9 good), rather than default 2,8,5,5. Will refine inlcuding an overall expert. Will backtest and post.

Dave

[gaga888]

how much does it cost to get the jurik MA indicator for the MT4

does anyone have any idea?

[5FX]

Originally Posted by tstmarkt

I have been trading FX for about a year and find it hard to make a profit, Can ppl realy make a living from FX ?

Is FX only for Banks and Corporation ?

Anyone here make 100K or more a year with FX ?

interesting subject,
here is my short story, the first tree years i loss all my saving even my car but since the last 3 years i just count pips to catch from market for things i like to buy

cheers....

[volvo264]

Helo Knoxy,

Your trading approach looks very interesting. Would you be able to write the trading rules down so its a bit easier to make sense of whats actually happening please?


Many thanks in advance,


volvo

[benfaid]

Originally Posted by 5FX

interesting subject,
here is my short story, the first tree years i loss all my saving even my car but since the last 3 years i just count pips to catch from market for things i like to buy

cheers....

Hi 5FX
I salut you for your achievement. Can you tell us how you managed to stand up again, and most important what were your mistakes?
Thank you

[tstmarkt]

Wow 5FX, please tell more of your story.

[truth_man]

this guy Steve Dewitt seems to think you can make a living.

I am making a living but its always up and down. The trick is to make consistant profit a week. hehe.

Steve Dewitt is duping newbie's. I have heard he is just out there to make money from newbies as they dont have a clue. He is a marketing man and not a trader. I bet you he doesnt even have a real account.

I think everyone needs to do some research on the net before. Steve Dewitt hasnt even told anyone about moneytec as then his commissions will dissappear.

Moneytec is the best place for newbies.

[pinger]

we all learn from our mistakes so don't worry as much painfull and hard is the start : )


all traders loose when they start even bank ones, so jump in demo first : )

[pinger]

think for the market as a chalange not as place to win/loose : )