You can say, that many stockmarket sayings are out of date, like: 1. trend is Your friend (in fact, when You can see a trend, it may be to late! especially on forex short term) 2. cut Your losses and let Your profits grow (it is sometimes much better to take a profit on a precalculated level) 3. do not add to a losing position (why not add to a position if You keep the same stop loss for both and the second stop will be tiny? if it goes Your way, the benefits wil be more than twice!) and so on... But two things are for sure: HOPE AND GREED are trader's enemies! For me a institution which LIES to its clients, CHEATS and STEALS money from them like Oanda DID, is no more worth trusting to. No hope will help... when a certain time will come, it is almost sure, they will make use of You and Your hope! ... I am not losing anymore, (at least ) because I haven't deposited money yet. I am loking for a different broker, but maybe I will find out that Oanda is the best for my trading style anyway! In fact this time if I loose, the only one to blame will be my broker, because I spent a lot of time on testing my new system. Maybe I will give Oanda a last chance and open a new thread "OANDA's LAST CHANCE" And I will honestly write about my experience, as I always do. BUT INDEED - I AM PISSED OFF! Because I suppose that there is no honest broker out there!
forestgril, I'll try and be diplomatic here.....I think you're full of shit! Do you really think Oanda give a rats arse whether you give them a 'last chance' and deposit your $500 with them? You probably cost more in terms of their resources than any profit you generate for them! If your new system works as you say it does then let's see a few trading blotters (even demo would do), let's see the results of your tests! Ah but you won't do that will you sport......
1.That is not nice, that is not.... You do not deserve no more success, much less 10% a month. And it will happen in this or either way, because there is some kind of justice in the ether. 2.They probably profit from almost everything people like me deposit there. As 99% people must lose on forex, they can statistically assume that 450$ is for them, especcially when guy tries to scalp and makes 200 trades a day. You show Your lack of inteligence in point 2 - the cost of my service is near 0. 3. I can't show the blotter, because the test were made on historical data: guessing bars of charts I didn't know. I can only show my Excel tests results, but this would not be a proof. I just started testing on demo and it will take a 2-3 weeks to make a statistically interesting results, because I have only maximum of 4-5 hours a day to play. I admit, that even having a system (a little bit judgemental) - it is difficult to use it live, but I will learn for sure. Oh Cable, Cable... Youre losing points rapidly.
And here we go again. Forestgril complaining about Oanda now - what is it? Six months now? Six months where you've complained and claimed that you were done with Oanda. I don't know about the rest of you, but if I was dealing with a company (whether in forex, auto repair or a restaurant) that had shabby service or I believed was scamming me, I certainly would never do business with them again. But not forestgril. Why complain once about a company when you can do it over and over and over and over....
"Hay guys, my broker has lied, cheated and stolen from me, but i will give him one last chance, because"
Yep, just as I thought, full of crap..... 1. Fortunately my success doesn't rely on your warped opinion about what I deserve or don't deserve. 2. Yes, for sure they profit from losers like you who give their money away, but some high-maintenance pocket-change losers can be more trouble than they're worth with all their whinging and whining. On the other hand traders (like me and thousands of other Oanda clients) who consistently make money pay our way with spread and shade and seldom complain unless something is blatantly wrong. 3. What a freakin' surprise, you can't show a trading blotter! You say your system works on historical data but "it is difficult to use it live", but you said before "this time if I loose, the only one to blame will be my broker"! Gimme a break! You say you only have "4-5 hours a day to play", what that's not enough? I trade a couple of hours AM and maybe an hour or two PM, that's more than enough to show some profit. Me, losing points? On the contrary I'm making points, hundreds of 'em, as can be see from the blotters I'm not too scared to post! forestgril you just lost any tiny bit of credibility you might have had. Toooooo funny
Cable trader, with Your lack of respect to other people, You will lose much more than points on the stockmarket, and this will affect Your trading too. Not my problem anyway. ---------------------------------------- To get more credibility (for people searching for real info to treat me seriously - maybe it will help someone) I will tell and show You something. -------------------------------- Recently for 2 months I was testing a new system on historical data and the results were excellent for me. I decided to start testing on demo and told about it to my collegue. He told me that he doesn't have time to take care of his very little account (100 USD on Admiral Markets) and that I can play with this money but "try not to lose to fast". I wasn't too eager to play with his "pocket money" (at the same time he is playing CFD's with a sum of 2200USD on Findspreads), but decided to give my system a try, thinking that with real money I will have a better opportunity to learn to control my emotions during trading. I started on last friday and made a terrible mistake in the beggining, You can see the trading blotter, which made me lose almost 9% of capital in 5minutes or so. It is because I have (by mistake) chosen 0.1 lot instead of 0.01. And 1 pip on eur/gbp is an expensive one, so I payed 5% of capital only for the spread!!! I was already after 10 hours of hard intelectual work, I was hungry (bar in my physics insitute closed at 3pm, and the nearest shop 15 minutes away, while I have no car) and that's where I think this mistake came from. That mistake (with fatigue and hunger) emotionally affected my next 2 trades which I consider very nervous. As You can see, I cancelled about 4-5 awaiting limit trades after going down from 96 USD to 82 USD in half an hour or so! THAT IS WHY, CABLE, I SAY IT IS DIFFICULT TO KEEP TO YOUR SYSTEM, even if You know it is good. When You lose more than 10% of capital in 1/2 hour, You feel like hit in the head and Your decisions aren't rational anymore. I was almost ready to give up and wrote a email to my friend, that I rather be testing on demo but I decided to take grip on and really keep to the system. A green tea helped a lot , a little bit of meditation an the next few trades were satisfactory enough. Keep in mind that I left the instiute at 17:45 leaving 5 trades, one of which was the best one: 5.54USD - it took a precalculated profit level 5 hours later. Finally, if You take into account, that the first mistake should cost me 0.9, not 9 USD, I would have a little profit (+4%) this day, but as You know it is nothing, because it needs 10 times this amount of trades to say anything about a system. Thus my trading blotter will be ready within 2-3, weeks, as I told You, and I will post it to get some more credibility, regardless of my results. It was a hard lesson for me, and I have to admit again: it is really difficult to keep up to Your system. I still lack patience, but I will for sure get more of it with time. ------------------------------------- Finally about OANDA: Indeed, I am pissed off but after having good results on demo or my friends account (for 2-3 weeks) I WILL deposit money to Oanda account and test it for the last time. If everything will be ok, I will write a post, that "OANDA IS NOW OK", but if they will keep cheating and stealing", I will keep "whinging and whining" about the institution to protect the neophytes or just traders looking for advice. CLEAR OR NOT?
To get a little bit more credibility: I worked writing and testing my own indicators for 2-3 months, I will show You my setup as a proof, that system is a little bit complicated.
It's hard to have any respect for someone who appears to have very little understanding of the market and trading and who constantly loses (other people's) money through indiscipline, overleverage, and poor money management yet still brags about their prowess as a trader and has the gall to find fault with what profitable traders are saying and doing! I won't "lose much more than points on the stockmarket", I don't trade stocks. Besides, I have developed sufficient discipline not to allow anything external to adversely affect my trading decisions, something you need to focus on more than some convoluted trading strategy!
So, even after all that crap you claim happened, you're going to take the plunge and deposit real money (I didn't even realize you had been paper trading this whole time - LOL!)? And then if they "keep cheating and stealing", you'll continue to trade with them but your response will be to keep "whinging and whining" [sic]? Are you completely and institutionally insane? What a total joke!