New to Forex Seeking Help/Guidance - page 2
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You're very welcome limopc, glad to help :)
100% agreed with your risk strategy. If you're going to subscribe to signals, it is very wise to subscribe to several to spread your risk. To spread risk further, make sure they're not all trading on the same pairs.
You are also correct that you will need as many virtual hosts as you have accounts and only one signal per account. Depending on how many accounts you intend to run, you will then need to weigh up the pro's and con's of virtual hosting versus a dedicated VPS in line with the article I mentioned above.
Regarding HFT signals, there is currently no way to run a filter to see just those signals at the moment. You will need to read the descriptions and watch the trade history to see that. But one word of warning. HFT's normally run on very, very small pip profits. Internet lag and spreads can totally kill any profit when subscribing to those signals. If you really want to copy a HFT strategy then I'd have to say a PAMM account would be a wiser choice. But if you want my opinion, I'd stay a long way away from any HFT. Looks great in the news headlines but reality can be very different.
Cheers
You're very welcome limopc, glad to help :)
100% agreed with your risk strategy. If you're going to subscribe to signals, it is very wise to subscribe to several to spread your risk. To spread risk further, make sure they're not all trading on the same pairs.
You are also correct that you will need as many virtual hosts as you have accounts and only one signal per account. Depending on how many accounts you intend to run, you will then need to weigh up the pro's and con's of virtual hosting versus a dedicated VPS in line with the article I mentioned above.
Regarding HFT signals, there is currently no way to run a filter to see just those signals at the moment. You will need to read the descriptions and watch the trade history to see that. But one word of warning. HFT's normally run on very, very small pip profits. Internet lag and spreads can totally kill any profit when subscribing to those signals. If you really want to copy a HFT strategy then I'd have to say a PAMM account would be a wiser choice. But if you want my opinion, I'd stay a long way away from any HFT. Looks great in the news headlines but reality can be very different.
Cheers
Thanks Filter
Merry Christmas to you and to everybody here on this forum.
You know, as I keep reading and trying I find Forex and metatrader stuff interesting, risky, needs a lot of learning.
Just to update you, on my terminal I have a few demo accounts, each subscribed to signals I have selected after reviewing them according to performance and number of subscribers (free signals).
The strange thing... I am seeing losses only! I'll wait and see how would it turn.
Though I have good experience with technical analysis and even fundamental analysis because I have been in the stock market since 2003, so I can read charts properly and know when and where to buy/ sell/ take profit... etc. Just yesterday I challenged a friend, I told him about an entry and exit points for the 1 min chart for the USDJPY, he placed the order on his demo account and in about 6-8 min he said it was concluded with 40USD profit!! What is driving me crazy is that I am still battling with using metatrader and placing orders on my terminal, it is always giving be error messages (price out of range/ stop loss, or take profit are wrong... there is something I am doing wrong... Will keep trying)
Any clues where can I find a good tutorial?
I wish I can use my experience with technical analysis in forex, wish I can write my own robot....
Any comments or guidance?
Well, I need some further advice.
If I want to select a signal, how to be sure it will work for me with my broker. How can I tell it is "compatible" with my broker?
I am with Sensus Capital, their leverage is 200, but I believe some signals may have different leverage. How would this affect my results? Can I be losing while the signal wins or have random results?
What about the minimum capital required? Some state specific amounts as minimum, what if my account has less? It won't be traded? It will lose while the signal wins, random results?
Sorry if I am bothering you with lots of questions, but please understand I am new to this.
Thanks
Well, I need some further advice.
If I want to select a signal, how to be sure it will work for me with my broker. How can I tell it is "compatible" with my broker?
I am with Sensus Capital, their leverage is 200, but I believe some signals may have different leverage. How would this affect my results? Can I be losing while the signal wins or have random results?
What about the minimum capital required? Some state specific amounts as minimum, what if my account has less? It won't be traded? It will lose while the signal wins, random results?
Sorry if I am bothering you with lots of questions, but please understand I am new to this.
Thanks
I have to thank Filter for his article at https://www.mql5.com/en/blogs/post/23777
It answered maybe most of my questions!