It's a proposal is all, no-one's banned anything and even if the NFA did ban it there are plenty of brokers outside NFA jurisdiction. If you want to stay with an NFA broker it's easy enough to get round the proposed legislation, just open a (sub) account. Still can't see what you're trying to achieve but never mind....
Well of course you're trying to make money but there's no point in asking if something is a good idea unless you explain what that idea actually is! Really, don't worry about it.....carry on, I'm sure you're doing great.
I'm just trying to see if it'll work. People get enough shit around here for introducing any new ideas, so I wanna make sure it really works (maybe a month or two) before I go into any details. I'm hoping to eventually make an EA of it to use on metatrader. It will be free for members to try, so I'm not trying to spam or anything....
New ideas are good, no-one has the monopoly on profitable trading ideas or strategies. I think you see some of the constructive (and sometimes not so constructive!) criticism around here as 'getting shit'....it's not. If I have an idea about something I encourage criticism because if my idea can stand up under scrutiny then that's a good thing, and other people may see something which I've missed so it's all valuable feedback. It's interesting that you said "it just seems too easy, like everyone should be doing it all the time!" because that's the way a lot of profitable traders think about their strategies, they can't believe it's that easy. .....on the other hand if you just want to post an equity graph and a blurred-out trading blotter of a couple of day's trading and shout that you've found a profitable system then don't expect too many pats on the back
Yea Iâm not figuring out whatâs trying to be accomplished here. I can hedge with my FXCM micro account. If I bought eur/usd at 1.3000 and it goes to 1.31 and I place a market order to sell, it just opens a new short position instead of selling the first one. I use it when I want to scalp a longer term position. Iâll place a short at 1.31 with a profit target of 1.3090. When the short goes off, Iâm essentially flat. How can money be made off of the hedging? I donât undertand.
Well my strategy works out pretty well on my live account. I opened up my account with only $1000, mainly because Iâm still testing it. One of my friends from school, who is an IS major, is helping me write an expert advisor so I donât have to stay glued to the screen. Hopefully we should have it done soon, and then Iâll test it on my account. When I was testing my strategy on my demo account, I realized that my lot size was way too big. This is why I was able to double my money in 2 days. Even though it was profitable, if I had one bad trade, it would wipe out my entire account. Once I opened my live account, I significantly lowered my lot size and also changed my strategy a little. Instead of opening buy and sell orders at the same time, I would execute pending buy and sell STOP orders for a certain number of pips away from the actual price. The certain number of pips that my orders were placed, allowed the currency pair (EURUSD) to build a strong trend in either direction. By doing this, it smoothed out my equity curve (unlike my previous attachments, which shows huge dips right before every gain). So with these changes, it took me 14 days to double my moneyâ¦Iâll keep yall updated on the EA
That is called "being flat." If you see value in this, then I have some swampland available. People who think this is a cool way to do things, are people who need to buy "Trading for Dummies" to get a start on definitions and beginning trading. These are the same people who think the best way to do well, is to take the opposite positions of a losing system. Here on EliteTrader, newbie traders constantly pop up with more bizarre ideas than Whac-A-Mole...