Oanda - Add Your SCAM SCREENS Here

Discussion in 'Forex Brokers' started by forestgril, May 4, 2008.

  1. Not being funny but the results kind of speak for themselves in that regard, -98% in 50 trading days, the prospect of longevity isn't looking good.

    I'm intrigued though, how can you make 20-100% on a good day without overtrading and overleveraging?
     
    #41     May 8, 2008
  2. I open transactions divided to three-four different pairs according to my indicators and experience. I risk 15-20 pips on each of them and wait for 70-150 pips. If I can watch it all the time and the trends are strong, I close on maximum oversold/overbouhgt levels, wait for retracements and enter again. But it is very difficult to make 100% in one day with leverage 1:50. 20% seems reasonable to me. I will do it often, but still have to work on my emotions.

    (I can share the indicators if someone with good experience shares it with me! :) )

    The prospect of longevity ... the statistics were very bad. Only I can see, from (logarithmic) chart of my capital, that some changes are happening nowadays. But I still have problems with keeping to my methods, and have tendency to overtrade to catch every retracement of 20-30 pips, which is suicidal for me at the moment.
     
    #42     May 8, 2008
  3. forestgril, the strategy you use doesn't really mean diddly, in fact it's about the least important aspect of trading.

    You've shown a couple of potentially profitable trades which were stopped out for obvious reasons. If you're consistent at making trades like that then why do you think you are 98% down? It seems like the strategy is good (10 second charts isn't my cup of tea but hey), so that can only leave money management and discipline. Both are screwed but both can be sorted out once you recognize where you're going wrong. Until you can do that you're always going to have a crazy equity curve and always going to crash and burn eventually.

    Looking for 100 or even 400:1 leverage and trying to make 20-100% a day is all wrong, it just won't work, period!
     
    #43     May 8, 2008
  4. ssss

    ssss

    Looking for 100 or even 400:1 leverage and trying to make 20-100% a day is all wrong, it just won't work, period!
    **************************

    No any scientific evidence Sir

    1 question - did retail operator have any edge ?

    To win in long row of 1000 operations with risk -reward 1:1 more as 500 operations
    (520-550-600) .You can recalculate for another
    risk -reward relations

    If retail have not any advantage(this point of view support author) ,than your statement have not any scientific value

    If you wish acuire scintific point of view ,
    read A.Puankare,J.von Neumann, Shannon ,Kelly about game theory

    Market -maker have advantage he taked
    each day more as 100 spread to he's profit

    Market -maker by Goldman Sachs 30 years old VP -1-1.15 mln $ per year
    Senior parnter (Goldman have some 200)
    35 years 5 mln $ per year .

    Win as 2-5 mln $ in 5-10 years in retail sector is occasion comparable with lotto .

    Best wish ...

    http://www.youtube.com/watch?v=aBcLPqpSJ6g
     
    #44     May 8, 2008
  5. Who needs science theory to prove it, the practicalities speak for themselves! Believe me many hopefuls have tried and failed to produce those kind of insane returns using excessive leverage, all have crashed and burned after a crazy roller-coaster equity curve ride. There is a perfect example right here in this thread!



    ssss, when replying to a post why don't you just click on the 'Quote' button...


    [​IMG]
     
    #45     May 8, 2008
  6. Companies that offer 100:1 or 400:1 margin are appealing to gamblers, not traders. They do it because they understand it is a sure fire way to have trader blow up his or her account.
     
    #46     May 8, 2008
  7. Absolutely agree, in fact I saw one broker offering 500:1 :eek:

    How about this for a new invention! We've had up to 500:1 leverage, STP, non-dealing desk, ECN style, and now there's a new sales pitch.....'Safe Forex' with a 'Money Back Guarantee'! lol, yeah right!

    ps delete the link/post if you like, I certainly don't want to advertise this company!
     
    #47     May 8, 2008
  8. ssss

    ssss

    Who needs science theory to prove it, the practicalities speak for themselves!

    Author support opinion ,that retail ssector have no any edge

    Forex and future trading official is zero summ game ,but in reality
    it is worster

    - commission,-spread -tax

    Market -maker win regulary .average account life in retail forex
    spot 45-60 days .

    ***********************************

    Believe me many hopefuls have tried and failed to produce those kind of insane returns using excessive leverage, all have crashed and burned after a crazy roller-coaster equity curve ride. There is a perfect example right here in this thread!


    Dear Sir

    Your argumenation more related to empl. of the OANDA or payed agent


    Your respectfully


    ssss, when replying to a post why don't you just click on the 'Quote' button...
     
    #48     May 8, 2008
  9. ssss

    ssss

    Ivanovich
    Moderator

    Registered: Oct 2004
    Posts: 3882


    05-08-08 04:35 PM

    Companies that offer 100:1 or 400:1 margin are appealing to gamblers, not traders. They do it because they understand it is a sure fire way to have trader blow up his or her account.

    Trader's are alsov gambler . No any doubt . Margin 1:1 or 1:1000
    is not related in case trader have no any edge.
    in case this operator can loose in on hour ,in another in one year
    but LOOS ,not win

    If exist no any advantage ,than more long play is more secure
    way to loose .
    It is contra mentality of some specific socium (He loosed all in one day !) but under conditions

    Operator is secure that have no any advantage

    best chans to win heavy bet in short time


    Market -maker have edge and through praxis
    knew that from more as 100 000 operations per year ,how many he would win . In this case best bet can be calculated through Kelly form .

    Your respectfully
     
    #49     May 8, 2008
  10. I don't understand most of what you said. It's difficult to follow your thought process - what is your native language, out of curiousity?

    But professional traders - the ones that are serious, have a method, etc. are not the same as gamblers. I'm sorry you feel that way. You cannot compare someone who has been trading for years, has a 6 figure account, a method that they've found that works, invests enormous time into reading up on the markets and fundamentals - with another person who has $5000 and deposits it into a 400:1 account in FX and expects to make $500,000 in 6 months.
     
    #50     May 8, 2008