You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Just bought a new system
- Thread starter trader4pips
- Start date
- Status
- Not open for further replies.
Well the reason they claim stops are not needed is due to the fact that they want you to trade 4 if not all 5 of their pairs. That way your trades are hedged enough not to margin out.
Regardless, I am still using stops.
Yes, signals come in real time. Their site is www.progressivefx.com
Regardless, I am still using stops.
Yes, signals come in real time. Their site is www.progressivefx.com
Quote from PulseScan:
02-28-07 07:48 AM
I have to agree. A system without stops will destroy your account regardless of how big or how small it is. A good suggestion would be to place your stop either above or below the Average True Range for the past 3 days. Atleast you can stay out of the way of the volatility in the market. Another suggestion would be to place a stop based on 10% of your remaining accoutn balance. This is old hat. Example: Account size - $10,000. Stop Loss - 1,000. Account size - $250 (mini fx account). Stop Loss - 25-30 pips. Notice how the stop gets bigger the larger the account is. You could adjust this by exiting on the Close each day at 5:30pm EST. Just some suggestions.
___________________________________________________
I love the quantification of your stops. Even the one you call "old hat". I wish I have read this post before last night. I was short the EUROUSD at 1.3243 with tight stop at 1.3260 and went to sleep. The market took me out. Lost $170 , was OK. but lost the possibility of making at least $750 (my target) on the plunge that followed.
Never traded 1.3260. The highest was 1.3257 The broker responded that my platform charts the bids. 57 was the bid and it was an ask of 60. Impossible my spread is only 2 pips. It's OK too.
The point I want to make is that your suggestion is marvelous.
Thank you from me and other traders that that sweat everyday looking for the "ideal" stop.
Best!
mF
02-28-07 07:48 AM
I have to agree. A system without stops will destroy your account regardless of how big or how small it is. A good suggestion would be to place your stop either above or below the Average True Range for the past 3 days. Atleast you can stay out of the way of the volatility in the market. Another suggestion would be to place a stop based on 10% of your remaining accoutn balance. This is old hat. Example: Account size - $10,000. Stop Loss - 1,000. Account size - $250 (mini fx account). Stop Loss - 25-30 pips. Notice how the stop gets bigger the larger the account is. You could adjust this by exiting on the Close each day at 5:30pm EST. Just some suggestions.
___________________________________________________
I love the quantification of your stops. Even the one you call "old hat". I wish I have read this post before last night. I was short the EUROUSD at 1.3243 with tight stop at 1.3260 and went to sleep. The market took me out. Lost $170 , was OK. but lost the possibility of making at least $750 (my target) on the plunge that followed.
Never traded 1.3260. The highest was 1.3257 The broker responded that my platform charts the bids. 57 was the bid and it was an ask of 60. Impossible my spread is only 2 pips. It's OK too.
The point I want to make is that your suggestion is marvelous.
Thank you from me and other traders that that sweat everyday looking for the "ideal" stop.
Best!
mF
What was the peak Euro/usd cash print overnight? Reliable, I mean. Anybody?
Quote from miniFORTUNE:
. . .I was short the EUROUSD at 1.3243 with tight stop at 1.3260 and went to sleep. The market took me out. Lost $170 , was OK. but lost the possibility of making at least $750 (my target) on the plunge that followed.
Never traded 1.3260. The highest was 1.3257 The broker responded that my platform charts the bids. 57 was the bid and it was an ask of 60. . .
i trade fx for an institution....and i assure you euro did not trade at 60 last night as I had an offer to sell at 55 since I was long. The EBS high is euro was 41 overnight in Sydney.
You guys got jibbed i feel.
Srry I just realized that retail chart prints are different to institutional - so i dont know really what the retail high was.
You guys got jibbed i feel.
Srry I just realized that retail chart prints are different to institutional - so i dont know really what the retail high was.
azmi:
You are right I got "jibbedd" whatever it means.
I checked some other sources and it did not trade that high.
Best!
mF
You are right I got "jibbedd" whatever it means.
I checked some other sources and it did not trade that high.
Best!
mF
WATCHOUT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Progressivefx.com
This may be a premature alert. I was impressed with the performance posted by trader4pips. I even sent him a personal e-mail on the ET platform congratulating and thanking him for letting us know about this marvelaous timing service.
I was ready to buy the software and contacted the company with some questions and prorated payment. I was ready to spli it in a couple of credit cards.
I "googled it" and found some contradictory information. I will not go on all the details but here are some:
1) The company states is in business since 2000. That's 6+ years. I went to whois and they just recorded the domain a little less than 2 months ago. You could see for yourself in the following link:
http://whois.domaintools.com/progressivefx.com
2) The performance is optimized bactesting at best.
3) Trader4pips posts somewhere else under the nicnmae of 4x4pips etc . etc. with similar introduction..."i'm a newbie... I want to knowi f someoneelse....and then I bought the system...here are the results etc.
4) trader4pips claims humongous pips... 600 pips here on 24 hours on Pound/Yen etc. I dissected the charts (different periodicity) and found impossible to gain that monstruous profit in that short period of time. Trader4pips, if you think I'm badmouthing you or some one else, POST HERE ON ET A BLOTTER OF THOSE MONSTRUOUS GAINS. It is very easy to do it.
5) Is he working for Progressivefx?
6) I found critiques when using google like this... "suspicious, this is a cheesy setup a copy of some one that previouly lost a ton of money, etc. I will find the links and post them if requested
I may be missinformed and stating wrong assumptions, and if that will be the case I will apologize in this thread and platform.
But now I am very doubtful and certainly I WILL NOT ORDER THE SOFTWARE.
All I'm saying is be aware before you order.
I was taken before by GlobalTec with a worthless $ 3,295.00 Options made easy software and data feed, and two years later I found out that the whole thing is a scam. I wish somebody told me "be aware..."
Best!
mF
Progressivefx.com
This may be a premature alert. I was impressed with the performance posted by trader4pips. I even sent him a personal e-mail on the ET platform congratulating and thanking him for letting us know about this marvelaous timing service.
I was ready to buy the software and contacted the company with some questions and prorated payment. I was ready to spli it in a couple of credit cards.
I "googled it" and found some contradictory information. I will not go on all the details but here are some:
1) The company states is in business since 2000. That's 6+ years. I went to whois and they just recorded the domain a little less than 2 months ago. You could see for yourself in the following link:
http://whois.domaintools.com/progressivefx.com
2) The performance is optimized bactesting at best.
3) Trader4pips posts somewhere else under the nicnmae of 4x4pips etc . etc. with similar introduction..."i'm a newbie... I want to knowi f someoneelse....and then I bought the system...here are the results etc.
4) trader4pips claims humongous pips... 600 pips here on 24 hours on Pound/Yen etc. I dissected the charts (different periodicity) and found impossible to gain that monstruous profit in that short period of time. Trader4pips, if you think I'm badmouthing you or some one else, POST HERE ON ET A BLOTTER OF THOSE MONSTRUOUS GAINS. It is very easy to do it.
5) Is he working for Progressivefx?
6) I found critiques when using google like this... "suspicious, this is a cheesy setup a copy of some one that previouly lost a ton of money, etc. I will find the links and post them if requested
I may be missinformed and stating wrong assumptions, and if that will be the case I will apologize in this thread and platform.
But now I am very doubtful and certainly I WILL NOT ORDER THE SOFTWARE.
All I'm saying is be aware before you order.
I was taken before by GlobalTec with a worthless $ 3,295.00 Options made easy software and data feed, and two years later I found out that the whole thing is a scam. I wish somebody told me "be aware..."
Best!
mF
- Status
- Not open for further replies.