Is GFT worth a chance??? ( Mini Spot Forex Account)

http://www.learncurrencytrading.com/fxforum/showthread.php?t=13988

you can read record of november first ,possibly method is some correlated with your wish ...
(30-50 sl to lot ...) That are approx 4000 competitors each month .Liquidation margin 1:200 (GFT 1:1600)

12-18-2007, 10:49 PM
King of the Mini
Moderator Join Date: Jun 2007
Posts: 49


November King of the Mini Contest Leaders

--------------------------------------------------------------------------------

The November King of the Mini Contest Results Are In!

We are publishing the trading statements and countries for the monthly winners and later on today will be publishing the monthly story.

1st Place --731.75% -- Malaysia -- Anonymous*
2nd Place --345.92% -- Nigeria -- Anonymous
3rd Place --311.23% -- China -- Wenfeng Liu*
4th Place --281.61% -- Canada -- David Berlet*
5th Place --214.82% -- Colombia --Agustin Vera*

*Past results are not indicative or future results.
Attached Files Combined Account Statement_001.pdf (34.8 KB, 2067 views)
Combined Account Statement_002.pdf (14.7 KB, 790 views)
Combined Account Statement_003.pdf (20.2 KB, 782 views)
Combined Account Statement_004.pdf (21.4 KB, 551 views)
Combined Account Statement_005.pdf (24.1 KB, 656 views)
 
forestgril,

1. When cabletrader advises that "you would have been better off opening an account with Oanda"... being that he is no fan of Oanda, to put it mildly... you'd be smart to pay close attention to everything he tells you in this thread. And others, too.

2.
Quote from forestgril:

I am thinking about 10-15 pip stops.
More...
Quote from forestgril:

But my trading strategy will be choosing trades which may last for days.
More...

Those two goals are 100% mutually exclusive, certainly at your development stage as a trader.

3.
Quote from forestgril:

If I loose 33% of my initial deposit, I stop and probably withdraw all money.
More...

Not "If", when you lose 33%. Trading with $500 starting capital, at $1 a pip, with 10-15-pip stops, such an outcome is all but guaranteed, and fast. If you are particularly lucky or put on few trades, you might manage to postpone that outcome for as long as a few weeks.

Still, that just might be the best, most sensible idea you've expressed above - if you get rid of the word "probably," that is.

4. I'd wish you good luck, but you don't need good luck... won't help. What you need is to withdraw your $500 from your GFT account now; close that account; and go back to the drawing board. Chances of that happening? Judging from the totality of your posts above, I'd say zero.
 
Quote from Reaver:



Don't be crazy, you are trading too big for that account size ESPECIALLY ESPECIALLY ESPECIALLY when you have a dealing desk trading against you (possibly). They can damn near wipe you out with one "aberration".

Oanda is a market maker, yes, BUT they also allow you to trade as low as $1. You can still trade a $500 account just like you would a $5000 account, just in a smaller size. It's great for scaling up and growing into a larger account.

Just TRADE SMALL.
More...

The last sentence is very important. That is why I will open different positions with different currencies 10000 each position and MAXIMUM 10-15 pip stops. The positions will be dilligently chosen and set with patience.

So as to the "aberration": if they will not fill my stops, as they should, they will be severly punished as I will be a good trader and will always say that GFT are f***ing scammers then. If they will tend not to fill my limits, I will write about it on this forum and they will loose clients.
The bad news spreads faster than the good.

About Oanda:
they are very good with the 5 second charts, I will watch their charts and open positions with GFT. But they allow only 1:50 leverage, so I cannot open several diversificated 10000 minilot positions with them, having 500 USD. With GFT it will be possible.

Either my method works, either not - the awaited portfolio income is statistically the same, but the risk is lower with multiple diverse positions.

I think it should be well understood by now....
 
Quote from sim03:

forestgril,

1. When cabletrader advises that "you would have been better off opening an account with Oanda"... being that he is no fan of Oanda, to put it mildly... you'd be smart to pay close attention to everything he tells you in this thread. And others, too.

2.


Those two goals are 100% mutually exclusive, certainly at your development stage as a trader.

3.

Not "If", when you lose 33%. Trading with $500 starting capital, at $1 a pip, with 10-15-pip stops, such an outcome is all but guaranteed, and fast. If you are particularly lucky or put on few trades, you might manage to postpone that outcome for as long as a few weeks.

Still, that just might be the best, most sensible idea you've expressed above - if you get rid of the word "probably," that is.

4. I'd wish you good luck, but you don't need good luck... won't help. What you need is to withdraw your $500 from your GFT account now; close that account; and go back to the drawing board. Chances of that happening? Judging from the totality of your posts above, I'd say zero.
More...

1. I always listen to everybody, who has something clever to say. But after that I make decision judging with all my knowledge and experience. Maybe I should open an account with IB now... but I will give GFT a try. My method is not so much dependent on the spread size. Much more on the correctly filled orders.

2. You have no idea about it. These are just Your judgments.

3. Again. That seems probable from outside. But I've made the homework already. And of course I take the risk of loosing 130 USD, because I think I have good reasons for that.

4. I DO need a little bit of good luck so, please ALL OF YOU MY FRIENDS, wish me good luck. Good luck helps, when You are well prepared. And I will have that bit of luck on my side, because that is not luck but something controlled from above. I trust my own Self.
 
Remarkably, your two posts after mine are wrong in about 6 or 7 different ways. Especially your reply to Reaver at 4:35 pm EST. Most of those 6 or 7 errors have already been explained in some detail by cabletrader, Reaver and myself.

I give up. Hard to engage in a dialog with someone who is so extraordinarily delusional and close-minded.

33% of $500 is $130... right. Didn't you say you were "good at maths"? FYI, you can edit your posts for up to 30 minutes.

You ought to get in touch with ET's "mr double" and collaborate on forex trading. You'll get along well... sort of insanity squared.
 
There are a few of things you've got to watch out for with GFT, especially if you use market orders. When you place a market order it goes into the 'Working Orders' tab and then normally gets filled within a few seconds, however on occasions it can stay in the working orders tab unfilled and pending, with price changing, for anything up to 5 minutes before being filled (sometimes longer during data!). You can't cancel the order, you don't get requoted, you just get filled at whatever price they like.

The other thing you need to do is compare the Order History of the day's trades against the EZ View Report, I found numerous discrepancies all in GFT's favor strangely enough.

And there was some issue with orders filled as DDL and MKT but I can't remember the exact details now.

Another regular problem was trades being reversed with the following message (first pic), and mysterious disconnects at the most inconvenient times (second pic).

GFT are the only broker I've ever traded with where I needed to record the screen while trading in order to support my complaints! I think the feeling of relief that I closed the account was mutual!



1g591w.jpg


-

102o5n6.jpg
 
Quote from sim03:

Remarkably, your two posts after mine are wrong in about 6 or 7 different ways. Especially your reply to Reaver at 4:35 pm EST. Most of those 6 or 7 errors have already been explained in some detail by cabletrader, Reaver and myself.

I give up. Hard to engage in a dialog with someone who is so extraordinarily delusional and close-minded.

33% of $500 is $130... right. Didn't you say you were "good at maths"? FYI, you can edit your posts for up to 30 minutes.

You ought to get in touch with ET's "mr double" and collaborate. You'll get along well... sort of insanity squared.
More...


lol, after a bad day that post really cheered me up!

LOL
 
Quote from sim03:

Remarkably, your two posts after mine are wrong in about 6 or 7 different ways. Especially your reply to Reaver at 4:35 pm EST. Most of those 6 or 7 errors have already been explained in some detail by cabletrader, Reaver and myself.

I give up. Hard to engage in a dialog with someone who is that delusional.

33% of $500 is $130... right. Didn't you say you were "good at maths"? FYI, you can edit your posts for up to 30 minutes.

You ought to get in touch with ET's "mr double" and collaborate. You'll get along well... sort of insanity squared.
More...


I told You that, I've made a little mistake! :D and a cheat also, but this I won't tell....

I explain: me and 2 of my friens decided to deposit 500USD that is about 1200PLN, which is 400PLN for a person and 33% of 400 is about 130PLN. That's where my mistake comes from, and that is not a lie :)

Yeah... maybe I am a little insane, but anyhow I seem emotionally more positive than You Sim03 :) You should not mock if You are sure, that You are right. You should tell me, that You are sorry to se my capital lost with eyes of Your imagination.
 
You must log in or register to reply here.
Back
Top