Ron Roos / Profil
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Ron Roos
Does anyone know of an EA that calculates for the current open trades of a pair, at what rate you break even or get to a set profit point? I think it would probably be easy to develop, but if there is already something out there, why re-invent the wheel? This would be very handy to see when your hedge or marty becomes profitable to set a TP, and if the set hedges or marties are realistic. Thoughts anyone?
Ron Roos
Why do brokers magically suddenly increase the spread when your trade is closing? I have the same kind of account, just 1 is live, 1 is a demo. When my sell position EURAUD was closing, suddenly the spread jumped from 4.2 to 9.8 on my live account. On my demo account it stayed the same. As you can see, it went all the way through the TP line, but because the spread suddenly skyrocketed, the position didn't close. This is one of the reasons I'm looking for a better broker.
Ron Roos
Just a tip regarding copying a signal. Hook the signal up to a demo account. Then you can wait until the trades coming in from the signal are hitting some DD and then add them manually to your live account. If you don't have time to do this, use a free utility called FX Blue internet Mirror. There is a sender part and a receiver part. This automatically copies a trade from 1 account to the other. Usually within 1 or 2 seconds. Make sure you set the setting "IgnoreAllExitSignals" to True. I'll tell you why: If your signal provider hits a stopout, their broker will close their trades. With this setting on, your positions will remain open and close only when it hits the TP or SL. If you have this setting to False, or you're copying the trades straight to your live account, you will incur the same loss as your signal provider. Happy trading!
Ron Roos
Celebrating 1 month birthday of 1 million dollar account. Started with $1M, and 1 month later got it up to $1.3M.
Ron Roos
If someone could tell me what is a good broker that accepts US clients, and that have tight spreads, please let me know! I'm looking for a better broker. Currently I'm with OANDA, InstaForex, ForexBrokerInc and FX Choice. Not happy with any of them.
Thanks!
Thanks!
Ron Roos
Just one advice. Don't listen to a robot. All a robot knows is algorithms. It doesn't know the market. It doesn't know when a government somewhere is about to make an announcement about it's economy or employment rates, which can make it's currency sky rocket or plummet, while your robot just made some major trades involving that currency. Creating a huge draw down if it doesn't set a stop loss. I have tried so many bots when I started Forex and none of them lived up to it's promises. If you don't want to trade yourself or don't have the time, copy a signal from a reputable source. Use 1 signal for 1 account. Use max lot size of 0.02 per $1,000 of account equity. That's it for now. If I think of something later I'll post it. If you have other free advice, feel free to comment. This is a community to help each other. Good luck!
Danila Kuzin
2015.11.25
Thanks for the advice, i have recently lost a good sum of money,but by now i have recovered it, and will be doing everything differently, and going through a thorough research and settting up my accounts right with right sums of money, thanks for your advice! Hope we all stay with profits!!!
Tan Jia Yuan
2015.11.25
That is so true. I use max lot size of 0.05 every $2000. 5% a month return is good enough for me!
Ron Roos
2016.03.24
After testing out a series of bots (most of them were junk) I'm revising my opinion. I still think you shouldn't blindly trust a bot. Best thing is to have one on a demo, see what it's doing, and if your market analysis agrees with it, then place the trade. I've found one that I can run on a live account while I'm asleep, and I do have to say it's a lot of fun to wake up and find out it's made me $100 or more while I was sleeping, and doesn't have a bunch of trades out far in the negative. Still... do your research.
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