I like most members that have come and gone from this and other forums have spent far more time and money trying to make consistant reliable money every month from this largest market in the world we know as FOREX.
We go from method to system to robot, money management and back again over and over. Almost quit and become motivated to try again. It's been 4 years for me and little over three of it hard long days. I have lowered my expectations gradually over time until I no longer believed it was worth while. Of course some inspriation would reinvigorate me to take a new approach.
Cut to the chase and here's my conclusion after letting go of the need to make mid to high double digit returns each month you can acceot what has been in front of us every day the whole time. Please understand it's my way does not need to be for every one and I was not going to even write this by chance of starting multiple what if's and arguments.
Take it for what it is. We all have a broker and choose them for what ever reason. I open accounts with many. Finding they are all about the same and many have excelent incentives. I saw the bonuses as a ploy to just get our money in their accounts. However if you couple the right brokers with a rebate provider something magical can happen.
All you have to do is learn to trade to break even.
Let that sink in.
In many cases most all systems work with the properly paired money management. You also need to get over the fear of dealing with brokers in other countries. As it's ever more clear the US is slowly taking our rights away and trying to force us out of the markets. Go ahead and look up congress' new Dodd-Frank Act regulations. they are taking gold and silver first and wanted more.
As long as you can trade consistantly you will be making round turns that make any broker happy. That's how they make money on the spreads. It is also how they provide rebates. Run the numbers on getting back half to three-quarters of a pip of every trade you make in a lump sum payment every month. I know this is no true revelation to some but, for those that are struggling to preserve their capital, monthly profit is very welcome. I found I could now use my breaking even to turn 5-10% depending on the number of trades I make just in rebates.
This was the Holy S*^t moment for me. Now just focus on consistancy and don't mess with it slowly increase your account to increase your returns.
That's it.
Learn about some basic headging if you want to take it to a new level. Something else the US has taken away from traders. Be careful learn it test it for a few months and it will double your number of trades and round turns. Earing you in effect double the rebates proportional to your number of trades. If you can make a few points on top of it each month congrats. You are now a bonifide profitable trader, most likely with little or no change to how you trade now.
If you are new to the market this can shorten your learning curve but not bypass the required due diligence and learning period that every sucessful trader must go through.
Food for thought, changed my trading for life hope some else will reap the same benefit. I did not write this a while ago due to not wanting to argue. But if a few people finally get it. This was worth the time to give back.
I am not going to give you what broker or rebate and such in this thread, so save your post do some diligence.
Happy Profits
Rob
EFT Forex ( Emotion Free Trading )
We go from method to system to robot, money management and back again over and over. Almost quit and become motivated to try again. It's been 4 years for me and little over three of it hard long days. I have lowered my expectations gradually over time until I no longer believed it was worth while. Of course some inspriation would reinvigorate me to take a new approach.
Cut to the chase and here's my conclusion after letting go of the need to make mid to high double digit returns each month you can acceot what has been in front of us every day the whole time. Please understand it's my way does not need to be for every one and I was not going to even write this by chance of starting multiple what if's and arguments.
Take it for what it is. We all have a broker and choose them for what ever reason. I open accounts with many. Finding they are all about the same and many have excelent incentives. I saw the bonuses as a ploy to just get our money in their accounts. However if you couple the right brokers with a rebate provider something magical can happen.
All you have to do is learn to trade to break even.
Let that sink in.
In many cases most all systems work with the properly paired money management. You also need to get over the fear of dealing with brokers in other countries. As it's ever more clear the US is slowly taking our rights away and trying to force us out of the markets. Go ahead and look up congress' new Dodd-Frank Act regulations. they are taking gold and silver first and wanted more.
As long as you can trade consistantly you will be making round turns that make any broker happy. That's how they make money on the spreads. It is also how they provide rebates. Run the numbers on getting back half to three-quarters of a pip of every trade you make in a lump sum payment every month. I know this is no true revelation to some but, for those that are struggling to preserve their capital, monthly profit is very welcome. I found I could now use my breaking even to turn 5-10% depending on the number of trades I make just in rebates.
This was the Holy S*^t moment for me. Now just focus on consistancy and don't mess with it slowly increase your account to increase your returns.
That's it.
Learn about some basic headging if you want to take it to a new level. Something else the US has taken away from traders. Be careful learn it test it for a few months and it will double your number of trades and round turns. Earing you in effect double the rebates proportional to your number of trades. If you can make a few points on top of it each month congrats. You are now a bonifide profitable trader, most likely with little or no change to how you trade now.
If you are new to the market this can shorten your learning curve but not bypass the required due diligence and learning period that every sucessful trader must go through.
Food for thought, changed my trading for life hope some else will reap the same benefit. I did not write this a while ago due to not wanting to argue. But if a few people finally get it. This was worth the time to give back.
I am not going to give you what broker or rebate and such in this thread, so save your post do some diligence.
Happy Profits
Rob
EFT Forex ( Emotion Free Trading )