A new Mentor or another Shark?

[cu2]

Getting back to Nial Fuller. Wrote 2 E-mails to him. He did answer quickly. Seems nice enough.


> Hi Nial,
>
> I am thinking of joining your forum - e.g. buying the course.
>
> I have several trading accounts in Europe one normal Stocks and
> certificates account also a cfds amd one spread betting account.
> Other than the live stock account, all of the others take your auto stops
> out by upto 40 pips out of the real price
> range. This puts me off trading forex.
>
> What would you suggest? What software and broker do you use in Austrailia?
>
> Hope you have an answer.
> I like your simple methods.
>
-----------------------------------------------------

Nials answer!
Hi

ig markets is reputable (low margin required 1 %)
as is mann financial - using the singsapore office - insto spreads and
dealing (higher margin required 3% )

Take care
Nial
------------------------------------------------------------------------------------------------------------
After looking into IG markets and reading about other traders experiances with IG I wrote to him saying I would stay away from IG.
This was his answer.

u dont need to trade real money for a long time yet.. you sound very new to
all this, and
i urge you to trade on paper for some time.

everyone so keen to trade real money... this is wrong .. theres no need for
it

your still learning, and its best you learn first before even trying to
trade real money.
take my word for it, you will likely end up broke if you go out and just
start trading

IG is reliable, forex peace army is not always a true story of reality, i
assure you, people always want to write negative things about
big companies, but thats life. I use ig and trust them with large funds.

I sincerely promise you that most brokers are not the blame, its the trader,
the trader is usually unskilled and poor with stop loss placement in
general.

Nial
---------------------------------------------------------------------------------------------------------------------

That was all quite normal stuff. But I find it strange that he never had any trouble with brokers. He is 24 years of age with only 2 years of successful trading behind him.

His videos are quite straight forward. Easy enough to follow. There free. I was more interested in joining for the forum, not so much the course. But now I think a forum for $337 is it not so great after all. If it was skype I dont think I would hesitate. I have been trading similary as he does and it is working on a forex demo with big stops and adding to a possition when it goes wrong. With that I always start with small bets so I can add to it.

 

[Dihusky]

Your asking about Aussie Brokers. We use Go Markets, to start with they were DD Brokers and this was reflected in constant slippage etc, but in recent months they bacame an ECN Broker. Now the spreads have dropped, order placement is instantaneous and they are still providing an excellent service with good phone support.

This has also mad a difference to our FapTurbo trading, profitability has increased markedly with more trades happening due to the tighter spreads. Another thing we learnt was to keep our trading account in $US, we started with our account in $AUS and this added additional computations which made the EA fail dismally. An important lesson to all I think.

Give Go Markets a crack, they work well for us.

 

[cu2]

Hello Dihuski,

Just joined this board myself yesterday and while cruising to get a feel for how things work came across your post. Looking at the only reply that you have had so far, from a "senior member" I think I'll be moving on.

My advice would be to take a look at Forex Factory lots of info there.

Good luck.

Myrllin

I like trade 2 win. Oh well to bad.
Maybe your subject wasnt so exciting. I have had plenty of activity by other entries in this forum.

 

[cu2]

Your asking about Aussie Brokers. We use Go Markets, to start with they were DD Brokers and this was reflected in constant slippage etc, but in recent months they bacame an ECN Broker. Now the spreads have dropped, order placement is instantaneous and they are still providing an excellent service with good phone support.
Give Go Markets a crack, they work well for us.

Thanks for that, I'II look into it. What can you tell me about placing stops, are they ok or do they take them out by spiking the price (nothing to do with the real price) to get you out. :innocent: Generally I only use mental stops that works. But heck I would like to be able to take a break without having to worry whats going on.

Just took a look at it looks good. Uses Meta4 which is not so good as onada but ok I might be able to get use to it.
Could you please explain more about why you use US instead, I couldn't quite understand what you your meaning.

 

[Windowsill]

Thanks Sighthound, havn't had time to drill yet, but will look into it tomorrow, looks interesting. Just got to make sure I don't fog my mind with too many strategies, what I am testing is working well so far and the demo ballance is looking sweet.

Thanks again,

So everything is rosy suddenly.

Well thats good.

However in case it all goes wrong, I suggest you read just one more book, How i made $2,000,000 Nicolas Darvas, then you will have a system and an insight into your personal failings.

Hope that helps.

PS: Don't read any more books, look at what you want to trade and just think. More hints regarding thinking you will find in the aforementioned book.

 

[sakhter]

Anyone that says they will teach you how to trade forex for $ is a scam.

 

[firewalker99]

Anyone that says they will teach you how to trade forex for $ is a scam.

Forex is more susceptible to scams because almost anyone can open an account and start trading. Futures require a minimum of margin, and it's easier to convince someone throwing in a couple of hundred, than a couple of thousand.

 

[Trader333]

Anyone that says they will teach you how to trade forex for $ is a scam.

Not true, there may well be many scams out there but not all of them are and some people are genuine.

Forex is more susceptible to scams because almost anyone can open an account and start trading. Futures require a minimum of margin, and it's easier to convince someone throwing in a couple of hundred, than a couple of thousand.

I think that MT4 has also had a big impact on the recent increase in forex scams because of the ease in which an EA can be written.


Paul

 

[cu2]

Whos making money!

OK is there anyone out there earning money with FX!!!!! Please answer.

I have made money on the stock market. I have yet to try with FX.

 

[gamma]

OK is there anyone out there earning money with FX!!!!! Please answer.

I have made money on the stock market. I have yet to try with FX.

Yes and here's the proof also that you do not need bags of money to get started.
http://www.trade2win.com/boards/general-trading-chat/71866-heads-up-etx-100-quid-16.html

 

[oildaytrader]

Firstly, I'll say high, my wife and I are new to Forex trading, based in Australia the Asian markets are open when we are awake so that is what we look to trade as we are not night owls. Following weeks of demos, we have burnt oursleves rather beautifully on some live trading when our systems and strategies didn't work. anyway that's another story.

Out of the blue I had a call from the US from a training company 'Platinum Inovations', they then linked me through to a subsidiary, Stella Forex Consulting. Stellar Forex Consulting: Stellar Forex Consulting Group (SFCG) My wife and I have tried to research this organisation and have come up with zip, zero, nix, which we find interesting. It's like they don't exist! Not even sure how they got my home number, mad some claim about training for FapTurbo users, so FapTurbo could get some more testimonials...Wierd!!

Now a days, one cand find out most things on the new, good and bad, even Googling my own name pulls up more info than either of these companies have, so putting it simply, this rings alarm bells loud and long.

A simple question: Has anyone heard of this company? Are they newbies, scam artists or what???

Following our live trading experiences, we have realised that even reading extensively can still get one in the s**t, so we are looking for some good mentoring and training from active traders, the ones one can watch and talk to as they trade live, thereby getting a good handle on their strategies, thoughts and methodologies.

Any suggestions would be much appreciated.

No suggestions.

Keep your money in a tight fist.

Professional traders do not hang around forums offering trading training services for cash.The good knowledgeable profitable traders are making money from trading , not from offering mentoring.

Systems fail, market conditions change and currency pair patterns change.Retire! trading is too difficult to master manually.

I have been with all those mentors on forums claiming to be professional traders ,I meet them regularly and teach them a few things about trading and expose their scams.

OILDAYTRADER

 

[sakhter]

OK is there anyone out there earning money with FX!!!!! Please answer.

I have made money on the stock market. I have yet to try with FX.

I started with a $5,000 account 2 years ago. It's pushing low 7 figures right now.

 

[sakhter]

Not true, there may well be many scams out there but not all of them are and some people are genuine.



I think that MT4 has also had a big impact on the recent increase in forex scams because of the ease in which an EA can be written.


Paul

Paul,

I doubt anyone is genuine when they say they want to teach you how to trade forex-- or any market for that matter. It would be more credible if they were selling research based around the method instead of the method itself. I wouldn't buy signals either, considering there are now venues where signal providers compete for subscribers. Anyone charging a premium for signals or their "method" is a scam. But research is a different story.

Why do you think Reuters, FactSet, Bloomberg, etc. are so big as they are? A lot of TA is 'jargonized' and the pure derivation of fundamental levels hidden. These companies paint pictures around commercially available knowledge and indicators. They would go to great lengths to hide their research from academics.

-Shawn

 

[Black Swan]

I started with a $5,000 account 2 years ago. It's pushing low 7 figures right now.

I'm trying to 'de-code' this, whaddya mean..?

 

[sakhter]

[/COLOR]

I'm trying to 'de-code' this, whaddya mean..?

That was in response to the post about if anyone makes money trading forex. My account is near the $1M mark since it's humble origins of $5K with 200:1 leverage.

Lets see how this week goes..

All the best,

Shawn

 

[oildaytrader]

That was in response to the post about if anyone makes money trading forex. My account is near the $1M mark since it's humble origins of $5K with 200:1 leverage.

Lets see how this week goes..

All the best,

Shawn

Shawn

What trading style? Scalping?trending?intraday?News trader? fundamental?

and how long a period of time?

It is all perfectly possible with compounding and risking all the profits .Here are two charts on systems started with $100k each.Same system used with and without compounding.Compounding gave 200 % a year whereas noncompounding 46% a year.

 

[sakhter]

Shawn

What trading style? Scalping?trending?intraday?News trader? fundamental?

and how long a period of time?

It is all perfectly possible with compounding and risking all the profits .Here are two charts on systems started with $100k each.Same system used with and without compounding.Compounding gave 200 % a year whereas noncompounding 46% a year.

I mainly trade high probability price gaps with a lot of leverage. I do not trend trade, I don't watch the news. I scalp when necessary. The tighter the high-probability price gap, the more volume I trade. If there was a 50 point gap, I trade standard lots & scale in. If it were a 5-10 point gap, I trade 10-50 lots and also pray :innocent:. There were months when I first started trading where I was doing 100%-1,000% in a month-- Mind you I was also doing 200+ trades a day. I attribute that to a lot of screen time when I first started trading. I've become more conservative and make 1-10 standard lot trades at a time with 5%-10% risk in each trade. Average trade profit is about $250-$5,000, with <200 or so trades a month.

I do not leave all my profits in. I'll withdraw funds at times depending on how good the month was. I have made far more than the account equity.

I dont suggest going balls to the walls if you have other obligations. (ie. family)

All the best,

Shawn

 

[Black Swan]

That was in response to the post about if anyone makes money trading forex. My account is near the $1M mark since it's humble origins of $5K with 200:1 leverage.

Lets see how this week goes..

All the best,

Shawn

Cool, nice work fella...

 

[15 min tlb]

I mainly trade high probability price gaps with a lot of leverage. I do not trend trade, I don't watch the news. I scalp when necessary. The tighter the high-probability price gap, the more volume I trade. If there was a 50 point gap, I trade standard lots & scale in. If it were a 5-10 point gap, I trade 10-50 lots and also pray :innocent:. There were months when I first started trading where I was doing 100%-1,000% in a month-- Mind you I was also doing 200+ trades a day. I attribute that to a lot of screen time when I first started trading. I've become more conservative and make 1-10 standard lot trades at a time with 5%-10% risk in each trade. Average trade profit is about $250-$5,000, with <200 or so trades a month.

I do not leave all my profits in. I'll withdraw funds at times depending on how good the month was. I have made far more than the account equity.

I dont suggest going balls to the walls if you have other obligations. (ie. family)

All the best,

Shawn

Did you blow your account?

http://www.trade2win.com/boards/forex/120284-investment-club.html