EVERYTHING FOREX

 Hey guys  

I promised it and here it is. This is the forex page that will facilitate everything forex. The first few blogs will provide basic information on the FOREX market.  Now I am a beginner at trading therefore I will only be able to provide general information for now and tips that I learnt from my training.

Most of the help you will receive may come from seasoned traders who I encourage to offer comments and make suggestions.  

Of course, it is paramount that the trader (or interested trader) recognize that there are different strategies, techniques and jargons, therefore the information posted on this page, though very helpful, will not be gospel.    

WHAT IS FOREX TRADING? 

The FOREX opens approximately 7pm EST on Sunday evening and closes Friday at 4pm EST. The market has more buyers than sellers, has more daily volume than any other market in the world, and takes place in major financial institutions across the globe.  Forex or forex trading is the simultaneous buying of one currency and the selling of another. Currencies are traded in pairs; for example: 

currency-pairs.JPG 

BUYING AND SELLING CURRENCY In the forex market, currencies are always priced in pairs and all trades result in the simultaneous buying of one currency and the selling of another. E.g. EUR/USD. The first listed currency is known as the base currency, while the second currency is called the counter or quote currency. The base currency is the “basis” for the buy or the sell. For example, if you buy EUR/USD you have bought Euros (and simultaneously sold US dollars).  

The objective of currency trading is to buy the currency that increases in value relative to the one you sold. If you have bought a currency and the price appreciates in value, then you must sell the currency back in order to lock the profit.  

EXAMPLE If you think that the Euro will rise relative to the U.S. Dollar you would buy one (or more) lot of the EUR/USD currency pair.
The EUR/USD is trading at 1.3653 when you buy it.
The EUR/USD is trading at 1.3873 when you sell it.
You bought at 1.3653 and sold at 1.3873 for a profit of .0220 or 220 pips.      

If you think that the Euro will fall relative to the U.S. Dollar you would sell one lot of the EUR/USD currency pair.
The EUR/USD is trading at 1.3667 when you sell it.
The EUR/USD is trading at 1.3519 when you buy it.
You bought at 1.3667 and sold at 1.3519 for a profit of .0148 or 148 pips. 

SOME CUREENCIES: EUR = EUROS, BGP= POUND, CHF= SWISS FRANC, JPY= JAPANESE YEN, AUD=AUSSIE $  

PIPS 

If the market moves from 1.2253 up to 1.2254 that represents a move of one pip. A pip is the smallest increment a currency pair can move and in the case of the EUR/USD currency pair a pip is worth $10 in a 100K account and is $1 in a mini account. FX is traded in lots, which represent 100,000 units of the base currency. If the EUR/USD is quoted at 1.2253, that means that one Euro is currently worth just over $1.22.    

MARKET MAKERS & BROKERS  

Market Maker- one who consistently makes two way prices, providing both a bid and an offer. Market makers trade their capital. 

Broker – an individual who matches buy and sell orders in return for a commission.  

LEVERAGE AND MARGINS 

Leverage is about risk. It allows traders to borrow money and use that money to invest in the foreign exchange market. Because of leverage, clients without a huge amount of capital are able to make large investments. Most market makers allow positions to be leveraged up to 100:1. This means that if a trader wanted to buy a “lot” worth $100,000, with 100:1 leverage the trader only has to put up $1,000. 

Margin is a performance bond, or good faith deposit, to ensure against trading losses. The margin requirement allows traders to hold a position much larger than the account value. Trading platforms have margin management capabilities, which allow for this high leverage. In the event that funds fall below the margin requirements the broker’s dealing desk will close all trading open positions. This prevents client’s account from falling into the negatives.  

Therefore, the amount of leverage a market maker gives to a client defines the amount of margin that the client will have to commit in order to take a position in the market. For example, when leverage is 100:5, the “5” in the leverage ratio signifies the amount of capital the customer has invested of his own money, which is also known as the margin.  

GETTING INTO THE TRADE/TAKING A POSITION  

Traders do not take positions on a currency pair at the exact rate at which the currencies are trading. Instead, there are two rates for the currency pair: the bid rate and the ask rate. • The bid rate is the price at which traders can sell the pair.
• The ask rate is the price at which traders can buy the pair. 

This is an example of a currency pair. The ask (buy) rate is higher than the bid (sell) rate and the spread is 3 pips, meaning that if a trader buys this pair, then the sell rate of this pair will have to go up 3 pips in order for the trader to break even. 

The ask rate will always be higher than the bid rate. The difference between the bid rate and the ask rate is the spread. The spread is an automatic cost that the trader incurs when making the trade. Because of this spread, traders will take a position they started with a small loss and will need to gain some profit in order to break even. Some information posted in this blog have been adopted from http://www.fxcm.com/ 

Andre P. Llewellyn ©

486 Responses to “EVERYTHING FOREX”

  1. NM October 18, 2007 at 2:51 am #

    Hi Andre, well informed site

  2. Christopher Phang October 18, 2007 at 3:53 pm #

    Hi Andre, Like your site. Have you ever heard of World Wise Partners in Jamaica. They specialize in Forex with gains of 12% monthly. Do you have any thoughts on this company. Chris

  3. Love-To-Trade-$$$ October 18, 2007 at 6:22 pm #

    Hello Andre,
    I like this one……..some of us have been asleep too long!

    As stated earlier #591 Maximizing Wealth, “REMEMBER WE ARE OUR GREATEST RESOURCE, LETS CONTINUE TO LEARN FROM EACH “.

    Not only should we keep ourselves abreast of the operations involving our investment gain-$$, we must have a good understanding of the source.

    Class is in session…….EVERYONE!

    Major Names in FOREX News

    “Major FOREX participants include commercial and investment banks and central banks. Other participants include corporations, hedge funds, and millions of trader worldwide. The top seven banks that provide liquidity in this market include Bank of America, Credit Suisse, First Boston, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Dean Witter, and UBS Warburg. Bank of America reported in its 2002 annual report a $530 million profit from foreign exchange trading revenue under Global Investment Income. Meanwhile, it reported only a $384 million profit from trading stocks, and an $86 million profit from commodities trading. It is not uncommon for a large bank to trade daily, billions of dollars. Some of this trading activity is done on behalf of corporate customers; however bank dealers are performing a large amount of trading to make the bank profits. The financial statements of a majority of banks throughout the U.S. will denote income received from foreign exchange trading.

    The commercial companies™ international trade exposure is the backbone of the foreign exchange market. Companies such as Siemens, Nestle, Toyota, BP Amoco, Volkswagen, Intel, Dell Computers, Dow Chemicals, Monsanto, Merck Pharmaceuticals, SmithKline Beckman, Lufthansa, Caterpillar, Union Carbide and Kodak have traded or continue to trade heavily in foreign currencies. Most of these companies established in-house trading facilities or subsidiaries to manage their currency trading.

    Caterpillar established its special currency management group back in 1986, when it reported a $100 million profit on foreign exchange that turned its $24 million operating loss into a $76 million profit for that year.

    DaimlerChrysler threw itself into major investment headlines in late 2003 when it acknowledged that more than half of its 2Q 2003 operating profit was generated by currency trades – making more money on foreign exchange than in selling cars. The car maker reported quarterly operating profit of €641 million ($1 billion), beating some analysts estimates. The company says approximately €350 million of this profit was generated in foreign exchange”.

  4. Pipslovah October 19, 2007 at 2:15 pm #

    Hi ladies and gents,
    Ok, as i promised HD and other members before to provide some links to resources etc, well here are some:

    E-books:
    1) http://www.hubd.cn/forex/ This site is a bit slow and minor few links might not work, but you’ll find alot of useful ebooks ranging from complete guides, chart analysis books, money managment books, etc..U can check out as much as u can..Also to the right side of the website are links, ranging from daily analysis, commentary, and other recommended sites and tutorials. Also they have links to popular fx forums that you can learn even more from the experts all around the world, like forexfactory.com, which is also listed on this site…So utilize this site well for your learning needs.

    2) http://koobe.eu/sorted.php?by=Trading&ord=id
    This is another huge selection of trading material, u have to go through some links etc to get the books but also some links may be down, but yet still a large selection for your curious needs on the subject.

    3) http://www.fxcm.com/webinars-page.jsp
    This site is one of my Live brokers, they offer live webinars every day which u can attend for free so can chk out too

    4) http://www.fibonaccibook.com/
    A nice likkle site on fibonnaci for all you fb enthusiasts

    5) http://forexfeeds.blogspot.com/
    This blog has some nice analysis and resources for u as well…

    umm…guess all this should keep u allbusy for a while! :)

  5. Pipslovah October 19, 2007 at 3:30 pm #

    A word of advice as well, fx trading is a bit different than stocks trading where it is a far more volatile market to me. So with DISCIPLINE and proper Money Management, anyone can prosper from it. On the above post, you’ll find links to tonz of good materials for your learning needs. And while going through the list, there are some that teaches that when followed consistently, you can actually turn even $1000USD to over 1million USD in less than 2yrs of trading..So if u got the discipline to stick to certain rules and guidelines, without swaying away from it due to u being unconsciously getting GREEDY, then u should b fine. Speaking of which, new traders, please DO NOT TRADE WHEN YOU’RE EMOTIONAL!! IT CAN AND WILL AFFECT YOUR JUDGEMENT! So if you’re sick, tired, sad, all these can lead to bad judgement when u try to trade and will result sometimes in serious losses.

  6. HD October 19, 2007 at 6:46 pm #

    what is the post number ?

  7. HD October 19, 2007 at 6:46 pm #

    Pipslovah…what is the post number ?

  8. Chris October 19, 2007 at 6:49 pm #

    Hey Pips!

    I dont see the post you speak of with the links etc…maybe you were emotional when you thought you posted it :) let me know if its showing up for you…lata

  9. moony October 19, 2007 at 6:54 pm #

    Thanks to Pipslovah I have been reading babypips.com. Still have a way to go before learning all the terminology and start trading. Thanks for all the advice to that you have given as it relates to trading as a newbie. I will provide an update as time progresses.

  10. Pipslovah October 19, 2007 at 7:02 pm #

    Hmmm….very very strange…
    I was seeing it from up till not too long ago… or did andre deleted it??? darn i hav to type over all dat stuff!!!!!!!!! arrrr

  11. Pipslovah October 19, 2007 at 7:08 pm #

    yow! this everything forex Blog is WEIRD!! one minute i see my post nex i dont! after refreshing the page several times i see d post again!
    Anyway i posted the image of the post here

    http://www.mediafire.com/imageview.php?quickkey=endbhyta1j9&thumb=6

  12. Chris October 19, 2007 at 7:18 pm #

    Yo Pips!

    The next time you see your magic post appear mek sure you save it in a word before it disappear again..and I stand corrected, its you computer thats drunk not you :)

  13. Pipslovah October 19, 2007 at 7:27 pm #

    Yo Chris, can u see the post#10? with the link to the image file? If u see it u shuld see dat I DID post it! but it just vanished from off dis blog??!? don’t know why tho. but let me know if u can see d image link from d post#10

  14. Pipslovah October 19, 2007 at 7:28 pm #

    And Chris, my computer nuh drunk, its dis blog dats drunk..it dash weh mi post!!! :(

  15. mathetes October 19, 2007 at 8:05 pm #

    hey Guys,

    Happy to know that you guys are here. I didnt delete the comments, there may be a problem with this page, I dont know. Here is the link to the new page http://everythingforex.wordpress.com/.

    Please tell me if you would rather use that blog (the new one which is entirely for Forex) or use this page. The plus with using this page is that you can easily comment in the comments section under other topics. The plus with the new blog is that most of the trafic/comments there will be Forex oriented.

    If you rather here then I will delete the new blog page and put all new stuff on this one.

    Peace
    Andre

  16. mathetes October 19, 2007 at 8:11 pm #

    Pipslovah,

    I have the comment that you posted in my email inbox (ALL COMMENTS SENT TO THE BLOG GO TO MY EMAIL). I will send it to you by email and u can try to repost it.

    Andre

  17. Chris October 19, 2007 at 8:14 pm #

    Pips!

    I see post #10 and can view the image file just fine…not sure what happened with other post…can you still see it from that possessed computer of yours???? lol If you can still pull it up maybe try be reposting it to the main blog or to the other blog Andre created…

    Andre,

    I dont think it matter which blog we use…and long as it stop eating Pipslovah’s posts :)

  18. Pipslovah October 20, 2007 at 4:36 pm #

    Ye Andre,

    which ever blog is ok as long as we dont have a problem posting stuff and it vanishing… :)

    YO CHRIS! nope my possessed computer didn’t show d post anymore but was lucky enuf to take a snapshot of it b4 it vanish from d blog again…so for all those plz refer to the link in post#10 for the image of what i posted coz I really dont wanna type all that over again :)

    Moony, welcome to d world of fx trading…take baby steps in it and you’ll prosper with patience and discipline. :)

    HD! I hope you’re getting to see the image ok, let me know if u still cant see anything or else I prolly hav to beg Chris to type the stuff for me since he sees the image just fine..LOL :)

  19. Chris October 20, 2007 at 9:02 pm #

    ahhhh Mr. Pipslovah and his enchanted computer is back! ..did I say I could see it just fine…ahhhhmmmmm well…what I meant to say was, “my granny was on the line”..these typos will be the death of me :) LOL…
    ok ok! if by some strange “impossible” coincidence, I’m the only person able to read the text in CLEARLY legible image file, then I retype it…but that will be the last resort nuclear option :)

  20. Pipslovah October 20, 2007 at 9:43 pm #

    ahhh Sir Chris! Looks like we’ve took over this blog ehh… :)
    Hey i tested ur interactive brokers demo and find dere spreads r exceptionally nice for major pairs, but for GJ is 6pip spread most times…are u gettin anythin better than 6pip for GJ? and is the leverage stuck at 50:1?
    Oh ye, d platform is sooooooo powerful that i got confused on how to place an order! i think i did place one b4 but den it disappeared…never get to read d manual on it fully to place orders etc… :)
    How do u run a robot on that system???

  21. vybzguy October 21, 2007 at 2:29 am #

    Yow
    Pips and Chris,
    Big up to all you guys who are spreading some knowledge.
    Newbie here, which trading platform do you use or would you suggest using?
    and which trading system would you suggest using also. hope i state the question correctly.
    Blessings

  22. Chris October 21, 2007 at 5:15 pm #

    Pips!

    Yes, Interactive Brokers (aka IB) is known for their powerful platform, low commission, and spreads..but with such power comes a learning curve which admittedly is a lot steaper than most(especially since you can trade alot more than currency). However, once you get it, you got it! It just will take a while to get use to the interface and how they do things…For example, there minimum lot for currency trades using IDEALPRO(which is want a currency trader would be using) is 20k, 25K, or 30K depending on the base currency. But once you are over the minimum you can go up in whatever increment you want. 36K, 54K, etc etc etc..I have been using them for a while and still run into something new all the time..I mean, they even have an option screen who purpose is solely to enable/disable others options within the platform..lol..crazy!
    ok as far as how I develop my robot system I use this charting program called amibroker (www.amibroker.com). They have their own AmiBroker Auto-Trading interface specifically for Interactive Brokers. However, you will still need at least a basic understand of programming in order to use the auto-trading interface. So basically, I dont use online charts at all…Amibroker connects to interactive brokers and converts the raw data into charts that look and feel exactly the way I want them to…and from there I can do my backtesting, cross bread indicators lol, do realtime scans for which ever pattern I’m looking for etc etc…
    Now this may not me the recommended route for most, but it made sense for me cause I was already familiar with these apps from my stock days and already know how to get them to do what I want…Plus I knew from the first day I picked up a forex book that I eventually wanted to develop my own fully automated system…for someone starting out completely new to technically analyis, coding, and who is not interesting in auto trading system, there are definitely much simplier options out there for them…
    Oh I haven’t gotten a change to look into that increase leverage stuff yet..One more things, there are 3 types of account:

    1) Demo (delayed 1 week..anybody can use..but unstable at times)
    2) Simulated Account (this is exactly like the Live account but you MUST have a live account in order to be able to use the simulated account…it will even show which interbank exchange your order would have been filled on just as with the Live account)
    3) Live Account

    Ok time to ice down mi fingers after all this typing :( lata

  23. Pipslovah October 21, 2007 at 6:53 pm #

    YO CHRIS!!! :)

    Looks like i got u into the big novel writing now ehh :) Don’t worry ur fingers will get use to all these long a$$ typing.. :)

    IB sounds interesting tho, but i need to dedicate some time to learn it, which i don’t really got rite now and what really kills me is the leverage is a bit small for me to play but I guess there’s always gonna b a trade off with good spreads but less leverage or vice versa. :(

    U can really try out ur stock skills on betonmarkets tho bro… its far more better than goin to acropolis or whats tha other casino name in terra nova hotel again? wha eva it name… :) Ye ur odds of winning are far greater if u know ur stuff and already understand the market. I’m trying to test if my developed strategy works on it 99.9% :) by starting with $100USD and try to make 100k in a month. Just setup that new account with $100 today so wish me luck.. ;)

    So how’s trading comin along bro???? Peace :)

  24. HD October 21, 2007 at 7:27 pm #

    Pips,

    Saw your screen shot on media fire…thanks man !…will start some more reading , practicing etc now that my project is done and I have some more time…damn I hate this IT work tired of the shit now…..anyways Im a doing some forex learning next week.

    On another note reading this blog today , Pips/Chris you guys certainly taking this thing to another level. Like I have heard of other traders doing this thing for a living even doctors who have quit their practice and closed their office to trade forex but you guys seems to be at a whole different level with these automated stuff and betonmarkets etc, ..anyways I need to do some more reading and research so I can get my shit together and get out of IT.

  25. Pipslovah October 21, 2007 at 7:49 pm #

    Hey HD!!

    Glad u can read the stuff ok, so Chris don’t need to retype anything… ;)
    Ye, IT has been my thing in the past, got certified in almost all areas humanly possible, A+ certified, MCSE, Cisco, Novell, Nortel..and after all that the ppl i go to for job interviews in JA seh dem cant afford mi…so I know what it feels like HD…
    Well thing with me and Chris with automated systems is that its all trading without emotions, and well more time for leisure, family, chill time while money still a mek in d background once d computa dem online :)
    Betonmarkets is only for those who are comfortable with trading already and knows the market to actually place a “bet” on where the market will go in “x” time. Honestly since i started on it again, it has been great, so like i told Chris, I started a brand new fresh account with ONLY $100usd and use my same trading technique on it to try to bring it to 100Kusd in about a month time…U see HD, once u get a hang of trading, it will be like a walk in d park if u stick to ur discipline. Wish u and all traders many good pips! :)

  26. moony October 21, 2007 at 10:02 pm #

    Like HD I can attest. I did Mechanical Engineering and IT. Now working as a Network Administrator and tired of the 9/5 Job. Pips can you share with us the charting software that you use and also what kind of indicators you use in your trading. I know that they are all important but based upon your experience what would you recommend?

  27. Pipslovah October 21, 2007 at 10:45 pm #

    Hey moony, I assume u’re a female right? coz i dont know if a guy would call demselves moony.. :) but forgive mi if i am wrong tho ;)

    Ok, done wid d joking… :) Ye 9-5 JOB sux, we all know.. :) Been dere and done dat and tell miself dat mi naw deal wid Office Politricks ever again.. :)

    Charting software, hmm, I use VT trader from cmsfx.com and also Metatrader 4..they have different stuff that I need on different levels since I cant monitor various different time frames on one chart..or should i say the different combos of indicators i use will be HELL to look at on just one charting software. I monitor 30minute to 4hr charts, coz what i do is intraday trade mostly as I dont really hold positions for long periods like some traders do. I love to book profits and if the trend is still intact I enter again on retracements or just trade swings.

    Indicators i use are pretty standard, ranging from moving averages for trends , MACD and slow stochs for short term overbought/oversold and divergences, QQE (Quantitative Qualitative Estimation) and momentum just to name a few… U might ask how the heck I use all these indicators on d damn chart..well i use multiple monitors..6 in fact from these guys

    http://www.naplestech.com/shopcart/traders.asp

    my system looks like the one on display with 6 LCDs :)

  28. moony October 21, 2007 at 11:07 pm #

    Forgiven. No not a female, male. Don’t want to be a female, 0 giving birth to a child no way. That’s something that I can never handle. Moony was a name my friends called me when I was in high school because they thought that my head was much rounder than normal. Like the moon I guess. Thanks for the response. I need to take some time to absorb the info that you just laid out. Still reading. Just thought that since there are so many indicators while reading the info I’m gathering I could concentrate on some more than the others.

    What about spinning taps, hang men, hammers, duji etc.? How important are these candle sticks formation? Bear with me. I am just trying to pick you brain and learn all I can from someone with experience. As the saying goes experience is the best teacher.

    Any way big up and nuff respect.

  29. David October 22, 2007 at 1:16 am #

    Hey Pipslovah

    Give a man a fish each time he ask and he will keep begging. Teach a man how to fish and he will make a man out of himself
    Listing those indicators without teaching how to apply them can cause more harm than good. Are you using moving averages 5 and 12 etc. What are the primary determinants for your entries. Are you using any automated program. Every forex brokerage software have 20 or more indicators but how to apply them are the key.
    The folks like Moony are looking for a good tutorial that can help them to catch fish.Hook, line and sinker does not make you catch a fish. Knowing how to set the hook relative to the sinker is important. The sinker can be attach above the hook or below. Being a past fisherboy I can say dont waste any time, put the sinker 4inches below the hook, use crab meat between 5-7am, worm at 7-9am and shimp after 9am.
    Be specific becaue we teach to learn but we must also learn to teach.
    Pipslovah you are the chosen one whom I think has the concept to do this tutorial.
    Keep this site educational and real
    Golden tutorial parts 1,2 and 3 coming soon

    Peace and respect.

  30. HD October 22, 2007 at 2:32 am #

    Pips,

    checking out some of your links…great stuff !, overwhelming but great !…..I will need to stay up late many nights to understand and test and try….Thanks again ! I think this will hold me for now plus reading the posts from you and Chris

  31. Pipslovah October 22, 2007 at 2:40 am #

    Hey David,
    Ye i know what u mean still, but dont want to get too much into those technicalities until they learn even the basics. Thats why i gave alot of links to some really nice materials for them to learn and be a pro at it eventually through experiencing it for themselves.
    The actual exact settings I cant really disclosed yet until my bredren decide what him gona do, coz as I have mentioned in the other blog that he’s gonna use my robot system that we’ve worked so hard on based on all my criteria settings to operate a club to give cashplus a run fi dem money. So if i let out the whole ting wid actual settings and everything dat i use is just gona kill him coz everybody here will then know how to target the market right every single time.
    So I’ve given lots of good material links for them to read and research, I’ll be here for q&a for d mean time.

  32. Pipslovah October 22, 2007 at 2:47 am #

    Moony!
    Very sorry about that…jus dat i know a girl who hav dat similar nickname :)
    Candle formations are also very important too, if u look closely on them u can actually picture whats the nex candle gonna be going..dats how i master my strategy on betonmarkets.com by predicting where d nex candle gonna be in nex few minutes dat i hav d bet on for.
    From candle patterns u’ll see a great deal about the market…I’ve reach a stage where I can actually look at them and can tell what are the hi possibilties of the next move on the next 5mins on a 5mins chart or where its heading next hour on the hourly charts.
    My sistren whom i’m teachin is gettin close to that point as well where she made a comment that its as if the “price action” is talking to her telling her where its gonna go next.
    Like for example, bearish engulfin or bullish engulfin candle patterns are strong signs more time. or bearish divergence candle bars, bullish divergence candle bars showing u signs of a reversal.
    All that is essential to u masterin everything

  33. Pipslovah October 22, 2007 at 3:00 am #

    HD!!!!!!!
    Glad u getting through to the materials!
    Yup, gotta put in some midnight oil every now and again… i been doin it for bout a yr and a half b4 i perfect my trading style and understand more and more each time. u’ll succeed once u got d discipline. one thing i always hav to tell ppl is that dem hav to get pass their emotions when doin this thing. so don’t be greedy! :) and also dont get depressed when u lose a few trades, coz its all part of ur learning process..know why u lost, and how to prevent it next time…I tink i explain a bit of this already from post on d otha blog aready i think…hmm…I’ll probably copy those posts to this blog tomorow.
    Peace! :)

  34. moony October 22, 2007 at 3:41 am #

    Thanks everyone. No prob on #30. Pips, thanks for making yourself available to help. Also let us know when your system is up and running. I am sure a few of us will invest.

  35. Pipslovah October 22, 2007 at 3:51 am #

    Hey David, moony, Chris, HD,

    here are the best forums that u should make urselves available to:
    1) FOREXFACTORY.COM
    2) FOREX-TSD.COM

    u can learn alot there as well and about other people’s strategies and systems that they created.
    So David, u can pick, choose and refuse what strategies and systems u want to try out or adopt into ur own trading arsenal.
    Those 2 sites are what gave me my big break too into developing my own system. So I’m sure it will be of great use to u all guys. Peace! :)

  36. Pipslovah October 22, 2007 at 4:29 am #

    Oh by the way guys,
    speaking of forexfactory.com, i must give credit to auslanco for his thread

    http://www.forexfactory.com/showthread.php?t=40582

    he introduced me to the QQE indicator and gann hilo activator which are very good indicators to use in ur trading. His strategies are worth learning too, plus there are lots of expert traders there sharing knowledge too…BUT READ THROUGH THE ENTIRE THREAD B4 ASKING QUESTIONS THO! They hate answering to ppl who dont take the time to read through previous posts…

    I must say that I adopt about half of their strategies into my own technique but not all the time I follow their trades tho coz some of their trades I would never take coz my own criteria weren’t met…I stop participating in them tho coz sometimes my trade calls are totally opposite so it will throw everyone on that thread into confusion if i am doing something different…u’ll see what i mean when u start reading the posts there :) So i just learn what i need to learn from there and move on.. :)

    So guys long and short, u gotta experience it for urself to know what u want to add to your own trading style or what to ignore from others if it doesn’t fit your style. Like I said, pick, choose and refuse…eventually u’ll come up with ur own winning strategy from all that u’ve learnt.

  37. HD October 22, 2007 at 11:55 am #

    Thanks again Pips!!!!

    I gather now is the time (when I am learning) to try different charting programs and find the one that I am most comfortable with ? I have been using ac-markets so far but I am thinking of trying others just to see the difference. Based on some of the feedback so far I get the impression once you develop a strategy and a “feel” for the market changing charting programs would NOT be a good idea.

  38. transformer October 22, 2007 at 12:06 pm #

    Hey guys,

    Attended one of the free MTI webinars and agents keep bugging me to buy their stuff since then. Of course I keep shaking them off cuz I don’t know that what they are selling is worth that much and not already available on the web. Also I just cant learn from DVD’s and CBT’s . I have to read and practice in order to learn.

    Question is does anyone know anybody that has been successful using any of MTI’s training programs ?

    They like to use David Smith’s name a lot even though David Smith probably was a very bright guy to start and probably used other material other than MTI’s.

  39. moony October 22, 2007 at 12:22 pm #

    Pips,

    http://forex-winning.blogspot.com/. Need some help here about this trading strategy. The main trend gives four hours prior to entering the market. Do you keeping on looking every four hour for the trend that will will conform to the EMA(5), EMA(10) RSI(9) etc and then from there you can enter the market? If this is the case that means one may be looking for quite sometime @ 4hr trends until the trend emerges. i.e. “The One” watch that moving with Jet Li.

  40. Chris October 22, 2007 at 3:25 pm #

    Pips,

    I see you been doing some serious typing since I last checked in :) Well I’ll try to me best to help out with stuff I can answer..just to ease some of the burden off your fingers :)
    Well at the moment I’m not doing any live fx trading..Outside of this flippin 9-5(yes still here..for now ;) ), I’m pretty much focused on robot development and testing…If all goes as scheduled I should be going live next month..oh let me ask you..what kind of money management strategy does your robot use? For example, what the max loss (as a % of account size) that your robot will take before it takes a loss and exits?? I know you said you dont use stop losses in your manual trading(unless you are locking in profits)..does your robot also not use stop losses?? I guess if thats the case then your robot would only exist a trade with a loss based on a signal, and not on the value of the loss itself…

    Folks,

    I’ve noticed that a lot of the newbie questions that are directed to Pips has already been answered by him in the other blog:

    http://wealthmax.wordpress.com/2007/02/05/powerful-investment-tips/#comment-911

    just take a few moments and read through all his posts over there before and I promised you will find answers to questions you didnt even know you had :) …Thanks again Pips for providing us with all these great resources!!

    I think the 1st thing someone new to trading should be focused is gaining solid understand of technical analysis in general and how it works…Next start with a few indicators and study how their movement correlate to price movement..NOTE: this will vary from pair to pair, and/or from time period to period, to some degree or another…Simply obtaining the exact specifics of someone’s system without really really understand how it works and why it does what it does will only hurt you in the long run…Nobody needs to go out there and re-invent the wheel, but you should you existing wheels to build you own ride…So when it break down or need a tune-up(which it probably will), you can fix it to run like new again :)..Soooo, tonight I’ll be reading up on QQE indicator and gann hilo activator that PIPS mentioned..maybe I can use them as di new alternator fi mi car :D ..lol..lata people!

  41. Pipslovah October 22, 2007 at 3:46 pm #

    Hey moony!!
    Re post#38, ye i took a look at ur site and its a typical 4hr strategy system that they’re introducing u to. What u say is right, each candle represents 4Hr time frame or intervals… This is for those who don’t want to be glued to the screen every hour…2 main things trading on 4hr strategies:
    1) It allows u flexibility to not watch the screen every single hour so u can do ur regular JOB, chill out with baby, etc
    2) Yes as u mentioned, trade signals will occur much less in 4hr time frame strategies than in say 1hr or 30 min or 15min strategies… but normally those are guranteed big moves and may only happen probably few times for a week…and once u in the trade might can last about 2 or more days depending on ur exit strategy.
    3) drawback is u might miss some shorter time frame good moves but hey 4hr are to me safe strategies, and say u make only 300pips on one pair for a whole month coz u only get say 3-4 trade signals on that month, but u can trade bout 8 pairs and make around the same pips u end up raking in (300×8= 2,400pips total) for the month using a 4hr strategy which is not bad. :)

  42. mathetes October 22, 2007 at 4:14 pm #

    HEY GUYS

    Keep the forex comments here, I am deleting the other blog page.

    Andre

  43. Pipslovah October 22, 2007 at 4:15 pm #

    Bredah Chris!!
    Ye bro, we all trying to help newbies and each other out so thank u for ur help :)
    Re the robot, yes u r right, i don’t exit based a a set loss figure, but exit on a reverse signal..reason:
    1) The way how it works is that once it enters a trade, it will eventually move into profit, and once it does, it locks in and trail the profits with trailin stops
    2) If for some unforseen events like stock market suddenly crash or terrorist or wha eva fundamental stuff happening in d background activity causing the market to not reach my profit zone at all and my indicators and criteria are reversin signals then what will happen is once a new reverse signal is generated, it will close its current position and open the reverse position
    Ouch gotta run on d road..lataz :)

  44. Pipslovah October 23, 2007 at 1:51 am #

    Hey Chris,
    Speaking of QQE and Gann HiLo…
    QQE has been well known as a strength indicator and Gann HiLo activator has been known as a Trend Following Tool (TFT).. u know for the life of me, some guy was trying to SELL these two indicators to me back then!! First time I saw them, i was impressed by them still, and almost fell in the trap to buy them coz at that time the guy renamed them as “strength indicator (SI) and Gann HiLo was (TFT) so I thought it was a custom made indicator coz i search thru my whole cms indicator list and meta trader indicator list and cant find them!
    And for this I have to praise Auslanco from forexfactory.com for telling me that its FREE, its just that its real name is QQE and Gann HiLo… ;)
    I promise to buy him a lamborghini someday.. :)

  45. Chris October 23, 2007 at 2:37 am #

    Hey Pips!

    Its funny cause I’m sitting here trying to figure out how to use those two indicators as we speak! lol..what a coincidence :) I’ve been google-ing di whole place down trying to find the actual algorithm that is used to create the indicators…I came across the original VT code and also the MT ex4 files that I guess I could import if I used MT (which unfortunately I’ve never touched)..FYI Interactive brokers dont support MT 4 at the moment …Ultimately, I would like to recode them in amibroker’s afl language so me and di robot can have it at our disposal muhaha (evil laugh)..this is my best lead so far on how to create it:

    This is how the Quantative Qualitative Estimation indicator is created.

    1) Create an exponential moving average of RSI; the periods (length) is user-defned, default value is 2.

    2) Create the 14-period ATR indicator based on the EMA of RSI.

    3) Create the 2 trailing stop lines
    3a) fast trailing stop is the ATR smoothed with a 14-periods wilders() smoothing function that is multiplied by a factor of 2.618
    3b) slow trailing stop is the ATR smoothing with a 14-periods wilders() smoothing function that is multiplied by a factor of 4.236

    So between trying to decrypt the original VT code and using those steps I should be able to re-create the indicator to use in my program…

    Oh yeah, as far the you not using stop losses, I do completely understand why you do it and I actually saw my profitability go up in my backtesting when I completely disabled my max. loss stop but left my profit target stop intact. So as you said I would only exist with a loss on a Sell/Cover signal. Its only made a slight difference in my case though because my Stop loss already pretty wide(3.2*ATR) and was I was only stopped out at a loss about 7 times in 190 trades…

    Backing testing:
    190(# of trades) 78.22%(wins) $23,712(profit) – Profit Only
    190(# of trades) 78.01%(wins) $22,323(profit) – Profit and Loss Stop(7 hits)

    If you have a good system thats give great entry and exist signals, I can see the logic in trading without stop losses until in the green. However, what happens when the computer crashes or internet goes down etc etc..and you or your robot aren’t able to transmit it sell/cover signal?? I guess that where good customer service with you broker comes in huh Pips :) lol…ok man back to work for me..unlike you, I’m still leading a double life here..lol..kinda like a double agent spy but without the hot girls, fancy cars, and running and shooting 2 guns at once..lol..lata man! thanks again

    Folks,

    when you start working on your own systems knowing when to exist is just as important as knowing when to enter…trading without stops with a bad(or just an incomplete system) will only make you lose your money faster versus losing it slowly..but unless you system is complete, you are gonna lose it either way :) so study hard!! there is no point in knowing how to break in a bank and rob it, if you just gonna stand there in the lobby wid di money in your hand (looking dazed) until the cops come grab you..lol

  46. Pipslovah October 23, 2007 at 2:50 pm #

    YO BREDA CHRIS!!! :)

    Looks like u gettin d hang of writing novels here too huh!! Whooo, u betta put u fingers on ice bro.. :)

    Great to hear that u found the qqe and gann, and good luck with converting it to your amibroker code…for me, I’m just too lazy to try to do your recreating the code for a different platform..but i guess u need it if u’re stickin to ur interactive brokers for trading…but great break down of the code bro…looks like u’re a damn good programmer too huh :)

    Hey, ur robot’s results aren’t bad at all bro…much better than the 10-20% that these investment programs out there will give u by far… :) CONGRATS!!

    Ok, to answer ur questions on backups while d damn robot…errr…hope it didn’t hear me…LOL… ok my sweet robot system then.. while runnin its thing.. these r d measures dat i hav in place
    1) Computer crash…hmm hope not..coz its a pretty high end machine setup..it will take a big disaster to hit it down, and its always cold in my office so it cant tell mi seh it ovaheat! :) but I have bout 2 more notebook computers that can i switch over to in case d big chunky machine goes down.
    2) Internet goes down, i hav both cwj dsl and flow net bridged running, so when eitha down i will still have net access..if both are down at the same time den well dog nyam mi suppa or I just call mi sistren or bredren dat hav net access, to log into the account to close all positions as is.
    3) So if all d disasters happen all at once, den I would just hav to do damage control to manual trade d damn ting to mek back wha it loss becoz of d downtime. :(

    By the way, my system only works well on pairs that are high volatile so it will have a better % chance it will reach a profit zone once it takes a trade, so for pairs like EUR/GBP which dont move much it loses more than wins..LOL. So I only use pairs that moves at least 100pips minimum avg per day. If ur robot system can manage the small moving pairs well then I just have to hats off to u bro.. Ur system will b better than mine.. :)

    Yo i gotta run now chat to u lataz.. and for the rest of u newbies, like wha Chris seh, Study hard, practice hard, and u’ll mek it! Me and chris tyaad a manual tradin now so we a mek robot system to do our work now… and u’ll all reach dis stage soon if u put d effort to learn fx tradin properly! Peace! :)

  47. Chris October 23, 2007 at 5:39 pm #

    Yo Pips!

    this will be a short one I promise :) I’ve been reading thru the auslanco thread http://www.forexfactory.com/showthread.php?t=40582 you posted previously and and I saw he made a reference to the “original thread” (I guess before he started that one), where he explained how he used the momentum indicator…I’m trying to track to the original thread to the one you posted so I can read the prequel where the the momentum indicator was thoroghly discussed :) Thanks!

  48. moony October 23, 2007 at 5:48 pm #

    Pips

    Thanks for your response to #38.

  49. Chris October 23, 2007 at 8:23 pm #

    Pips!

    nevermind I think the information on the momentum indicator is actually in the thread you gave..I was reading another thread where auslanco referred a thread which details this indicator

    http://www.forexfactory.com/showthread.php?t=41509&page=9

    Momentum Indicator:
    This is not a must have indicator for this strategy. However, If you wish to find out more details on the momentum indicator please refer to the post # 9030 onwards on GBP/JPY analysis thread for a description on retracements and how to use the momentum indicator.

    But I think the post 9030 he is talking about is in the thread you originally provided..lata

  50. Chris October 23, 2007 at 9:09 pm #

    Pips,

    I’m still wondering though..do you know which thread spawned this creation of this one??

    http://www.forexfactory.com/showthread.php?t=40582&highlight=9039

    from the very 1st page, they talking about the “other thread” and I feel like I walked in the movie after missing the first 30min…lol…guess I dont wanna miss out on any free knowledge :D

  51. Pipslovah October 23, 2007 at 11:03 pm #

    Yo Chris,
    Umm, see if these are the threads u looking for:

    http://www.forexfactory.com/showthread.php?t=41509

    http://www.forexfactory.com/showthread.php?t=45076

    Also this one from karmo he’s d fib masta

    http://www.forexfactory.com/showthread.php?t=43255

    lemme know if d above threads r what u looking for, if not i’ll look again becoz d original thread has expanded to over 40,000 posts now to over 2000+ pages! so dats nuff readin for ya..but half of the posts are jokes and trade calls tho so u can pretty much breeze through everything quickly!

    Have Fun!!! :)

  52. Pipslovah October 24, 2007 at 12:25 pm #

    Yo Chris,
    Ok, this is a bit frustrating, I posted your answers last night and NO I WASN’T DRINKING and my computer not enchanted! The post vanished again! oh man, this blog a mess wid mi!
    Here it is again

    http://www.forexfactory.com/showthread.php?t=41509

    http://www.forexfactory.com/showthread.php?t=45076

    Also karmo’s fib strat

    http://www.forexfactory.com/showthread.php?t=43255

    Let me know if the above r what u lookin for zeeeen

  53. Pipslovah October 24, 2007 at 12:26 pm #

    Yo Chris,
    Ok, this is a bit frustrating, I posted your answers last night and NO I WASN’T DRINKING and my computer not enchanted! The post vanished again! oh man, this blog a mess wid mi!
    Here it is again

    http://www.forexfactory.com/showthread.php?t=41509

    http://www.forexfactory.com/showthread.php?t=45076

    Also karmo’s fib strat

    http://www.forexfactory.com/showthread.php?t=43255

    Let me know if the above r what u lookin for zeeeen

  54. Pipslovah October 24, 2007 at 1:16 pm #

    Hey guys,
    Just want to say be careful when you’re playing with HYIPs on the net…They’re almost 99.9% scammers, u might get lucky on the first few runs with them, but once they get u on hook to put in more money, they’ll eventually disappear from the face of the earth. So be very careful.

    For those who wanted stuff on forex, I posted an image b4 on Andre’s Everything forex blog, so feel free to chk them out for all your learning needs.

    As for the great Sir JOHN who thinks FX trading’s bullshit from before, I decided to show u one of my personal smaller live accounts that I’m using my developed trading robot system on. I uploaded the client report from my broker to this site, its in the format of PDF so most ppl can view it with adobe acrobat reader. I personally requested to have my sensitive information removed from the report in case one of u here are hackers and try to break into that account ;)
    Here’s the link:

    http://www.mediafire.com/?f2zhjltmze0

    It takes a while for the “Click Here to Start Download” link to appear though, i think about 30 or so seconds..but it will show up for u to click on eventually :)

    From Oct 7,2007 with a starting balance of $1066USD to today Oct 24, 2007 the balance is now $16,340 so thats roughly 1432% ROI in less than a month trading period right. ;)

    I hope this gives inspiration to those who are willing to learn and stop throwing away ur money on HYIPs that will run away with your money someday.

  55. HD October 24, 2007 at 1:21 pm #

    So I downloaded the vtsystems demo trading platform. This thing is loaded ! Seems better than what I was using before so I just need to get up to speed with it.

  56. moony October 24, 2007 at 2:10 pm #

    Pips/Anyone else who can answer

    http://www.babypips.com/school/my_so_easy_its_ridiculous_system.html

    also http://forex-winning.blogspot.com/ post #38 shows a similar strategy

    except that the MACD indicator is missing from babypips. Here is my question.

    Initial is to enter at “Go long” and then “Go Short”. The stop loss is introduced just before “Go short”. You enter at the “Go Short” based upon your strategy and the expectation that this downward trend will reverse. Why enter the market at “Go Short” i.e. when prices are falling? Isn’t this risky, given changes in fundametals can cause further plunge, even if your strategy says you can enter at this point? The stop loss is there to secure your profits from your “Go Long? What is your take on entering at “Go Short”?

    I know I have a lot of questions which experience will clarify. Hope I am not “wearing you out”

    Thanks.

  57. fxkohai October 24, 2007 at 3:16 pm #

    Greetings Brothers, I like what the man dem start on the blog, their is nuff ‘disinformation’ on the net bout forex so genuine info is always appreciated. Big up to Chris and Pipslovah. On the journey to becoming a good FX trader the emotional part of the game is also very important ie: overcoming greed, fear and anxiety. Good books such as “The Disciplined Trader” by Mark Douglas or “Beat the Odds in Forex Trading” by Igor Toshchakov can help in this area

  58. Pipslovah October 24, 2007 at 3:31 pm #

    Yo Chris,
    Ok, this is a bit frustrating, I posted your answers last night and NO I WASN’T DRINKING and my computer not enchanted! The post vanished again! oh man, this blog a mess wid mi!
    Here it is again

    http://www.forexfactory.com/showthread.php?t=41509

    http://www.forexfactory.com/showthread.php?t=45076

    Also karmo’s fib strat

    http://www.forexfactory.com/showthread.php?t=43255

    Let me know if the above r what u lookin for zeeeen

  59. Chris October 24, 2007 at 4:37 pm #

    Pips,

    Your robot clearly aint takin no prisoners huh :) very impressive!..Let me ask you…you do your robot trading with cms forex right?? Do you use Metatrader 4 along with that? whats your autotrading setup? I was looking at the the cmsfx site to see if they supported metatrader 4 but came up empty?? The only drawback with IB is there minimum lots size in the equivalent of 2-3 mini lots. Also, have you every had any issues with getting your money from cmsfx or fxcm?? I know stop hunting is not a concert of yours so I wont even ask about that…lol

    Well let me know..I’m thinking about who to open a second broker account with…lata

  60. Pips October 24, 2007 at 9:33 pm #

    Hi Chris,
    I’m having serious trouble posting here, its eating all my posts like b4… email me at pipslovah@yahoo.com and we’ll continue the conversation there

  61. Pips October 24, 2007 at 11:40 pm #

    Yo Chris,

    Lets see if this works prior ur request bout the links on auslanco strategy…

    http://www.forexfactory.com/showthread.php?t=41509

    This is one

  62. Pips October 24, 2007 at 11:42 pm #

    Yo Chris,

    Next one

    http://www.forexfactory.com/showthread.php?t=45076

  63. Pips October 24, 2007 at 11:42 pm #

    And Chris,

    http://www.forexfactory.com/showthread.php?t=43255

    this one is karmo’s fib strategy

  64. Pips October 24, 2007 at 11:44 pm #

    Chris,

    If u see all the above post with a single link in each then i know why andre’s blog nyamin mi posts
    If i post mor than one link in a post i think his email system deletes it and takes it as spam mail so it will not appear on the blog at all.
    see if my theory is correct

  65. Chris October 25, 2007 at 12:55 am #

    Yo Pips,

    I think your theory is right and I take back all those nasty things I said about you and you haunted computer :) I can see all 3 post with the single links, just like you figured…I’ll drop you an email and hopefully yahoo no start nyam di message dem too..lol

  66. Pips October 25, 2007 at 3:07 am #

    Yes Breda Chris,

    Re post#53
    Yea mon, d robot nuh doin too bad on its own still, had to do fine tuning pon it still, u know change its oil to full synthetic and prolly fit in a turbo chip in dere or so.. :) It actually reach the 20k mark now at the end of today still..so its no longer 1432% ROI, its about 1806% ROI now at 9:55pm oct 24, 2007… will see how much further it can go till oct 31st.

    Yes i have the robot on VT Trader at the moment, but not on MT4 as yet…but mi bredren still trying to convert the VT code to MT4 tho.. I mainly use MT4 as a guide for manual trading still, coz some of its indicators are useful there and not available in VT…
    Here is a link for some MT4 indicators, expert advisors etc for u to fool round wid.

    http://codebase.mql4.com/indicators

    Think I have another link with even more but will post that when i find it.. :)

    Getting money from CMS and FXCM is normally 2 business days i get the wire transfer..no probs so far.

    wha u mean by autotrading setup bro??

  67. Chris October 25, 2007 at 3:30 am #

    Thanks for the info Pips ..i think I’m going look into getting something going with cms….”autotrading” setup is the same as your robot trading setup…just different terminology…didnt know VT trader directly supported robot trading(thought you needed a 3rd party app or something)..is that really the case??…hmmmm…eventually, I will definitely have fi convert one of my systems and try a ting with dem then…lata

  68. Chris October 25, 2007 at 4:17 am #

    Pips,

    So cmsfx supports MT4, but NOT fxcm..right?

  69. Pips October 25, 2007 at 5:31 am #

    yow chris,
    yes autotrade setup is correct. but is not the predefined ones on VT tho…we had to custom build it… :) and yes VT already has some auto trading systems there for u to play with and no u dont need any 3rd party app to run ur autotrade system. There is a trading system builder tool within VT that u can use to build ur “robot” or “autotrade system”…and its pretty friendly to use.

    NO CMS ONLY use VT TRADER… and fxcm uses its own trading platform called tradestation, but I think they’re tryin to integrate a MT4 platform tho but not fully made public yet. I use MT4 only for its indicator purposes when i manual trade which i can sign up to any broker’s demo that support MT4.
    Reasons:
    1) VT Trader is a very powerful technical platform for me with lots of nice built in indicators so i made most of my autotrade systems on it
    2) FXCM charting programs SUXXXXX, unless u buy one that u have to pay every damn mnth for a worthy one which I will never do coz I can get it for free with VT and Metatrader
    3) With the above reason, I can apply to any of the brokers for their demo accounts that utilizes the MT4 platform just to use their charts, and MT4 has lots of nice indicators for me to use that VT does not have.

  70. Pips October 25, 2007 at 5:49 am #

    Oh Chris,

    I am considering starting an account with brokers that uses MT4 soon, but trying each of them to see what their spreads and margin req are like first.. :)

    One thing u shuld know tho why I’m considerin using another broker that supports MT4,
    1) both cms and fxcm platform hangs up sometimes on extreme high volatility especially during the very well known Non-Farm payroll news report which comes out every 1st friday of d month. Many ppl have complained about this b4, well mostly news traders who love to jump in as news comes out and jump out quick for some fast profits on the spikes. So beware of this zeen.

    So for those who only main purpose is for newstrading on big events as it comes out like nonfarm payroll report then cmsfx and fxcm r not for u coz ur platform gona freeze during the first few minutes most of the times on big news events. Probably once in a blue moon it wont freeze tho, so i may be lucky those times ;)

    I’ve heard that some brokers that uses the MT4 platform doesn’t freeze regardless of news times etc, so thats y i’m interested in setting up one for live trades, coz hey cant have a decent autotrade system running nonstop including during hi impact news events and d stupid ^$^%$ platform freeze on yah!!! when that happens, ur open positions r floating around in cyberspace! and have to eventually close it manually and reset the autotrade system etc etc…damage control… :(

  71. fxkohai October 25, 2007 at 7:58 am #

    Hey Pips,

    In addition to what you said bout CMS, 20 mins before any major news report they restrict how you place your stops, ie: cant be less than 35 pips (they claim it is to protect you from slippage…). Buy the way what spread to you get on GbpJpy? I have 8pips on my CMS account, I think you inferred in and earlier post that your spread was less.

  72. Chris October 25, 2007 at 11:58 am #

    8 PIPS??? good lord! I’m looking at my interactive broker account right now getting 2-3 PIPS spread on gbpjpy…NOTE: I pay separate commission though

    <=USD 1,000,000,000—– 0.2 basis point(3) *Trade Value—- USD 2.50(MINIMUM)——–eg. USD 50,000 daily volume for EUR = USD 2.50

    eg. USD 1,000,000,000 daily volume for EUR = USD 20,000

    base point = 0.0001

    So if I buy AND sell 3 min lots (30,000 UNITS) of GJ my commission out the door is $5…more than worth in imho…just my 3 cents :)

  73. Chris October 25, 2007 at 12:04 pm #

    PIPS,

    Thanks for the info..while I was sleeping you were clearly busy typing away..lol..much appreciated…Well that freezing thing coupled with those wider spreads will definitely not be idea for my faster trading system…but shouldnt be too much of an issue with longer swinging systems..I prob will still do a little ting with dem on di side and see what happens..lata

  74. Pips October 25, 2007 at 1:26 pm #

    Yo fxkohai,
    CMS spread are fixed, so u r correct about those 8 pip spread, but my fxcm spreads r variable, so thats when i get more narrower spreads down to about 4 i tink, not sur if i gotten it down to 2 b4 tho.

    Bredah Chris,
    yep, 8pips is good lord still, but for d leverage dem givin mi is worth it still, dats how i can use larger lot sizes wid likkle bit of money as margin… plus their margin requirement are fixed in a way while some brokers like oanda or i-tradefx they calculate margin requirements differently per currency pair which suck big time imho.. Not sure how dem do that wid ur IB broker tho..coz i still dont get to read the operation manual fi u “powerful” platform as yet which i get lost in d jungle wid when i load it up… :)

    Say Chris,… Whats the margin requirement to open a full 1 standard lot in IB???? for GJ

  75. Chris October 25, 2007 at 3:11 pm #

    Pips,

    I see what you saying still and utimately it will come down to the kind of a system you running..One of mi systems definitely better with IB those tight spreads and but another system I’m developing would do good with cmsfx with that mean leverage…so I think I’ll just go with the best of both worlds :)…And yes, that IB platform is a monster and half…but a monster that can be brought under control using time..and a little bit of the force :)

    1 standard lot GJ – approx $3200(USD)

  76. fxkohai October 25, 2007 at 4:19 pm #

    Hey Chris,

    When it comes to Options,Stock n futures trades IB has no rival in terms of low commissions but don’t they require at least $5G to open an account, thats kinda nuff for a small man like me. When I get my game right I will consider them though, but thanks for the info though !

    PIPS !
    Your approach to GJ trading has been quite an eyeopener, I was a bit wary of it cause mi get bun a few times by that pair wiping out mi account even (thats before I killed that monster called GREED). I always use fibs levels on the 4hr, daily to choose direction n enter on 1hr,30mim or 15min signal but what used to happen was sometimes mi entry not right, mi get stopped out n it go in mi direction after. Could you give a bit more details about how you make your entry on the 15 min chart? Thanx

    NEWBIES,
    I endorse what the others have said bout paper trading first, then opening small live account (Cause nothing beats what you will learn from your own mistakes!). Instead of opening a Mini-Lot account, please consider opening a MICRO-LOT account (were 1 pip = pennies). That way you get the emotional feel of trading yu real money, but yur loss wont be too big ! There are a few Brokers that currently offer Micros (eventually all will offer Micro when this becomes standard), so check around.

  77. Chris October 25, 2007 at 5:05 pm #

    fxkohai,

    you are right 5K min with IB and the minimum lots size is the equivalent of 2-3 MINI lots(but above the min you can increment by whatever amount you want)…admittedly not good for people wanting to start out small..so depending on where you are at, this might not be where you want to start…I just like them cause everything seems above ground and they dont do all the usually fx funny business…i.e. requotes, stop hunting, price manipulation, platform freezing, crazy spread widening, money withdrawal redtape etc etc etc etc

  78. Mellonie October 25, 2007 at 10:00 pm #

    Greetings FXHOHAI
    I have an interest to learn currency trading, and would like to know more about opening a MICRO-LOT accounts. Could you please share how one would go about contacting a broker or post a lead to who offers micros account?

    Thanks.

  79. fxkohai October 25, 2007 at 10:48 pm #

    Hi Mellonie! Nice to see a lady on board ..please stick around ! Plz read the complete blog for some good tips esp. the Posts from Pipslovah n Chris, Post #10 by Pips as some VERY USEFUL links.

    As for Micro-Pips, Interbank FX and I think FXCM offers it too, I think for InterB, you would open a mini account (where 1 pip move on a mini lot =$1) but when you are placing your trades you can enter 0.01 lot so 1 pip move would be equal to a penny.

  80. Pips October 26, 2007 at 12:04 am #

    Hey ladies and gents,

    Wow! Great to see this been busy since I was busy most of today… Welcome Mellonie, and all other newbies.

    Yo Chris, u been busy bro typing away like dat… Big UP!!!! :) But dude!! $3200 for opening one standard lot!!!!!!!!!!!!!! That will kill my robot once i add it in tha system! CMS only need $250USD to open a full 1 standard lot, and fxcm is $500USD…man, ur $3200 to just open one standard lot is out of question fo me bro. Spreads maybe supa nice but leverage sucks alot.

    I’ll need at least 100k in each account just for my trading system to run properly on that kinda leverage.

  81. Chris October 26, 2007 at 12:08 am #

    Hey Mellonie,

    Just take some time and read through the fx posting on this blog and the original blog..I promise you will learn a lot.. Also, http://www.oanda.com is pretty popular micro lot broker

  82. Pips October 26, 2007 at 12:14 am #

    Hey fxkohai,

    Glad u learnin u stuff… GJ is a very nasty pair if u dont know how to trade it properly. but can be ur best friend once u know it :)

    15mins entries are mainly when i see my main trends from the longer periods on 1hr-4hr, and then try to get a good position to enter..
    I adopt some of auslanco’s 15min strategy for some of my entries sometimes on manual trades as his theory of price action most of the time retrace to 5SMA has proven correct probably 80%-90% of the time..chk it out zeen.

    http://www.forexfactory.com/showthread.php?t=45076

    And also just to add about micro accounts, Oanda.com is among the most popular micro account brokers, and i believe its the same broker OLINT is using to manage their clients funds at the moment becoz of Oanda’s FX manager system…it really makes managin client funds hassle free still..

    https://fxtrade.oanda.com/

  83. Pips October 26, 2007 at 12:14 am #

    Hey fxkohai,

    Glad u learnin u stuff… GJ is a very nasty pair if u dont know how to trade it properly. but can be ur best friend once u know it :)

    15mins entries are mainly when i see my main trends from the longer periods on 1hr-4hr, and then try to get a good position to enter..
    I adopt some of auslanco’s 15min strategy for some of my entries sometimes on manual trades as his theory of price action most of the time retrace to 5SMA has proven correct probably 80%-90% of the time..chk it out zeen.

    http://www.forexfactory.com/showthread.php?t=45076

  84. Pips October 26, 2007 at 12:15 am #

    And also just to add about micro accounts, Oanda.com is among the most popular micro account brokers, and i believe its the same broker OLINT is using to manage their clients funds at the moment becoz of Oanda’s FX manager system…it really makes managin client funds hassle free still..

    https://fxtrade.oanda.com/

  85. Pips October 26, 2007 at 12:18 am #

    Yo breda Chris,

    I seee u deh onboard the blog now hehehe.. :)
    I have to start getting into the habit of just posting a single link to each post..b4 the blog start nyam mi message again.. ;)

    Anyways bro, I gotta go again..so chat to ya lataz :)

  86. fxkohai October 26, 2007 at 1:58 am #

    Thanks Pips :)

  87. Chris October 26, 2007 at 2:36 am #

    Pips!

    From looking at how your roboting was moving last month I can understand why the 50:1 leverage wouldnt work for your system…mi can make good use of those spreads in my case though…I will definitely open a little account with cmsfx and if we can deal with dem freezing etc…let me know when you come another good MT 4 brokerage though

  88. Chris October 26, 2007 at 12:58 pm #

    Guys,

    This site has some good info..Its lists brokers by various categories and even provides some basic info on each broker..for example, you can see a list of ECN brokers, or MT 4 brokers, paypal brokers etc etc

    http://www.earnforex.com/forex_brokers.php

  89. Mellonie October 27, 2007 at 3:52 pm #

    Greetings FXHOHAI, PIPS and CHRIS,

    Thank you for a warm welcome and informattion on MICRO-LOTS account!
    I’ve look at the website OANDA.COM; it looks very user friendly and customer service oriented. Already I like the idea of them providing the FXGAME.

    Much information is available for me to start reading, many thanks.

  90. Melanie October 30, 2007 at 4:43 am #

    Hi Pips, I got a question can I email you .

  91. Pips October 30, 2007 at 3:47 pm #

    Sure Melanie,
    pipslovah@yahoo.com

  92. HD November 1, 2007 at 2:54 am #

    So I have been getting down with the common indicators and how they behave etc. Made a few good moves on my demo account. Now it seems from my research that some traders ignore fundamentals for the most part (but not entirely) whereas some traders actually live off fundamentals and simply use the technical stuff to execute the trade. My thinking at this time is that I need to be aware of the fundamentals (news, economic indicators, announcements etc) and simply use it to “frame” my trades using the technical stuff. Is this a fair assessment ?

  93. HD November 1, 2007 at 3:19 am #

    Informative site:

    http://www.onlinetradingconcepts.com/

  94. Sunflower November 1, 2007 at 3:25 am #

    Hey Pips

    I have been reading a whole lot from some of the web sites you posted for beginners. I still have a loonngg way to go, but is there a training dvd that you would recommend for a newbie …… maybe something that helped you when you started…

  95. Sunflower November 1, 2007 at 3:27 am #

    HD — I will add this to my list — thank u

  96. fxhohai November 1, 2007 at 10:15 am #

    Hello Sunflower,

    You don’t need to spend money on a training DVD, because most of the info you will get from any DVD is already FREE on the net ! One of the best training courses out there is the Fxchief’s MTI UTP (which I did), and quite frankly everything in that course is available free on the net! Stick with http://www.babypips.com then follow the links that Pips sent esp the forexfactory links. You will learn alot following that blog and seeing how the traders trade.

    Anyways Just my 2′cents on ur question, good luck with ur learning and plz be patient it will come together with time and practice.

  97. fxhohai November 1, 2007 at 10:23 am #

    Sunflower,
    If you still wanna do a course the cheapest out there is FXCM’s power course that cost $20 USD …

    http://www.fxcm.com/power-course-promo.jsp

    Perhaps PIPS might have other training links, if yu still think its required. :)

  98. HD November 1, 2007 at 11:46 am #

    So last night I took a good look at the fundamentals and the long term (1 month) trend for USD/JPY and decided that the best thing to do at this point was to buy it long. So I used the technical indicators to find the best time to buy it long and I did so at 115.36 . So so far this morning I am up about 47 pips. I guess that is small change though. Note to self….maybe in real trading it would not be agood idea to put in the buy order and then go to sleep ? will this work consistently ? figure out a consistent strategy to exit the trade.

  99. HD November 1, 2007 at 11:59 am #

    Pips, I followed your tip and tried the CMS VT trader. Much better ! than what I was using before. In fact I think it’s really wicked unless there is better out there. Do they give eveything that they provide with the demo account also in the live account at no extra cost ?

  100. Chris November 1, 2007 at 12:43 pm #

    HD,

    I think even if you are mainly a technical trader (which I am) knowing whats going on fundamentally can help in your trading dicisions. Here is something you may find help:

    http://www.forexbastards.com/public/free_forex_trading_signals

    These guys offer free dailys trading signals based solely on fundamentals(i.e. news announcements). Some people seem to be making money from simply using those signals. However, I use them mainly as a tool in my technical trading because I can know when to expect some serious volitility with a pair due to a pending news release.

  101. HD November 1, 2007 at 2:07 pm #

    Hey Chris, Thanks a lot. Took a quick look and it looks interesting. Definitely on my list of to dos to for the weekend as I deal with some 9-5 issues today.

    FYI, I set my stop of course and got 37 pips off the USD/JPY trade. Not bad, I’d be happy with that for the month if I could hold on to it !

    Now see that dip on the USD/JPY right now ?…that is the sort of thing I want to learn how to catch…damn !

  102. Sunflower November 1, 2007 at 2:55 pm #

    FXHOHAI,

    Thank you.

  103. moony November 1, 2007 at 3:37 pm #

    Hi Gents and Ladies,

    Long time I haven’t been on the forum. Any of the expert or newbie like myself can answer if you have used back testing before. How important is backtesting? and where do you can you find a reliable source of historical data?

  104. fxkohai November 2, 2007 at 6:44 pm #

    Hello Moony,

    There is enough info on the net supporting the merits of backtesting. Some traders prefer forward testing (eg: trading on a Demo account) cause you get a better feel for the emotional aspect of your trading (ie how you would respond when you see the currency price moving on a live account). But backtesting is a very good way to identify patterns and develop trading systems. So BOTH are useful.
    Most trading platforms should already include a few years of historical data, you many just need to increase the number of bars on their charts.

  105. Pips November 2, 2007 at 10:04 pm #

    Hey guys and girls..

    been a busy busy week…glad u all gettin along fine and chris thanks for helpin these newbies out.. :) u r numba 1 now :)

    I’ll b bak later to answer ur questions.. and HD great work!!!! And yes, CMS live accounts will come with everything from d demo, plus more stability… lataz

  106. Pips November 3, 2007 at 1:16 am #

    Hey HD,
    re post#92 on fundamental vs technical
    Fundamentals affects the market temporarily in most cases to me, as I was once a news trader before knowing more about the technical side of things back then. Like what Chris said, u can use fundamental to see short term volatility of the market. Alot of news reports affects the markets direction as it comes out and can cause sudden spikes that can be very profitable for traders that knows how to trade them. However, these spikes are normally short lived depending on the level of impact that particular news event has on the market. They can last between seconds to minutes to hours and possible a days before u see any form of correction/retracement. Take for example, the FOMC interest rate statement on Wednesday oct31, when they cut the intrest rate and discount rate by 25basis point…and this drove the EUR/USD, GBP/USD and some others to record highs…my nice GBP/JPY especially shot up massively even it was already in or near “overbought” status before the news release.
    Now this is where the technical part comes in, when the fundamental part of it subsides a bit. On thursday morning, MY GBP/JPY went to session highs, and it was extremely overbought in almost all time frame imaginable (30min-daily), so as a technical trader point of view, we know that the market has to retrace very soon so not too long, after the price hit 241.36 i think, the price tumbled over 300pips in 3 hours…and i believe others like EUR/JPY fell same time with over 200pips, and USD/JPY fell about 140pips in that few hours.
    Nevertheless, eventually after the big fall, the price will become technically “oversold” on some shorter time frames like (1hr-4hr) so this morning Friday, after reaching lows and a little bit oversold, the prices rise again. So if u were trading technically on GBP/JPY between wednesday news release to catch the wave upwards and then thursday’s wave downwards, and then fridays wave upwards again, would have booked u over 800pips movements on these 3 days alone.
    One thing people say is very simple to some high volatility pairs such as GBP/JPY, what goes up, has to come down and vice versa…
    So with technical trading, u can identify things like overbought/oversold levels, divergences which can lead to reversals etc etc.
    As with fundamentals, with certain news events, u might see it spike up/down for a very short period (possibly less than a minute to several minutes) and if u don’t close ur position by then to take ur profit, almost 80-90% of the time, the trade will go against u eventually. Thats why most fundamental news traders i know, their trades are basically scalps for quick profits, ie small targets but using a bigger contract lot size each time as their equity increases). If u’re not careful with your money management tho, this kind of trading style will kill your account..So always know what you’re doing and not HOPE that it will work.

  107. Pips November 3, 2007 at 1:24 am #

    Hey Sunflower,

    Unfortunately i dont have any dvd or so to aid u :( From those links i gave out, I literally went thru almost over 100s of materials to reach where i am today. After a while, u’ll realise that u can speed read thru most of them as they are repeated topics which u might have read already somewhere, but u just might learn a new thing or two to add to your whole experience. Also as fxhohai said fxcm’s powercourse is not bad either at a very cheap price compared to others, plus u can ask the instructors questions live too

  108. Pips November 3, 2007 at 1:33 am #

    Oh before I go for the weekend,
    for u fundamental traders

    http://www.dailyfx.com/calendar/

    this page has the whole entire weeks news events. Its updated once a week i believe and it has detail on what each news event is about.
    Also u can use that site dailyfx.com for news comments etc as well…please also follow forexfactory.com for things that may interest u as well. :) Enjoy your weekend everyone.

  109. Pips November 3, 2007 at 2:26 am #

    Yo Chris!!!

    Wazzup bro! man, u need to offload u stocks knowledge into d fx world now man, u stocks move slow man. :) Hope u got some benefits from wednesday oct31 to nov2 bro, really nice trade setups… yo, jus had a funny thought! when u get wicked pon shiftin to fx world wonder what it gona be like if we join forces wid u stocks expertise and our fx expertise and offering somthing like 35%-50% per month to the public..u think dat will kill Cashplus and Worldwise eventually ;)

  110. Sunflower November 3, 2007 at 3:44 am #

    Pips,

    Thank you.

  111. QUICKSILVER INVESTMENTS November 3, 2007 at 8:47 am #

    I am involved with HYIPs, FOREX clubs and I am learning to trade for myself. I treat this thing like a retirement fund. People this is our generations time to capitalise on wealth creation. Every decade you have a trend to make money….70′s was ganja, 80′s was crack cocaine, 90′s extasy and now in the 2000 is FOREX trading. At least this is a legit and sustainable activity, but our Jamaican government treat us like we are drug dealers, thus the comparisons I have given.

  112. Pips November 3, 2007 at 8:25 pm #

    This is auslanco’s strategy! enjoy!

    http://www.pnwenterprises.com/auslanco/

  113. moony November 3, 2007 at 10:15 pm #

    fxkohai,

    Thanks for your response on BackTesting.

  114. QUICKSILVER INVESTMENTS November 4, 2007 at 12:11 am #

    Has anyone tried i-Trade fx new trading platform?

  115. QUICKSILVER INVESTMENTS November 4, 2007 at 12:14 am #

    I was making 25-30% a month using the scalping strategy on the old platform using a demo account. I plan to go live in December.

  116. fxkohai November 4, 2007 at 8:37 am #

    Hello Quicksilver,
    You’ll eventually get burnt with these HYIPs (they usually turn out to be scams)

    PIPS!

    Thanks again for Auslanco’s link !! Mi haffi buy you a drink next time mi come to Jamaica !

  117. HD November 5, 2007 at 12:46 am #

    Hey Pips,

    Thanks for the lengthy ! detailed response…I read all of it….much appreciated.

    I guess as I learn this thing, what I am starting to pick up is that even though what I am learning is 99% technical I should not ignore the fundamental stuff…am I right ? That is, I think I would eventually be using technical signals mostly for trading but I still need to remember or know the fundamentals that will keep the longer term trends going …correct ?

    Since weekend I have been doing some reading about “trading the news” and it seems (I could be wrong) that “trading the news” could be even more risky and difficult than just staying away from the news and executing trades only after the news. I see where some brokers even change their spread in the middle of a news release which can seriously affect the profits.

  118. Pips November 5, 2007 at 2:37 am #

    Hey HD,
    Yes, u should NOT ignore the fundamentals stuff still, as with the example i gave earlier with the FOMC intrest rate statement had a massive effect to the direction of the market. The other most traded news is the US Non-Farm Payroll report that comes out 1st friday of each month.

    Yes trading the news is far more risky..and u hav to time it properly once u’re in a trade, as i mentioned some certain news reports (least-medium impact news events) trades spikes only last from seconds (less than 1min to jus a few minutes). So if u get GREEDY and dont come out soon enough, u’ll see that the market will eventually turn against u.

    Over the yrs, brokers see how ppl adopt tradin the news and made ALOT of money from it, so they will often widen spreads etc to make it difficult for ppl to do this sort of trading…especially Non-Farm payrolls…more often 99% of the time your trading platform freezes or disconnects during this news release…and Thanks to Chris! I am now trying out aleccoh’s broker, that claim they dont do such nasty things..so we’ll see.. :)

  119. Chris November 5, 2007 at 3:22 pm #

    what’s going on Pips!!! I guess if I’m #1 as you say, you must be Captain Picard huh lol…you aint foolin me, i know what you up to! :)

    Well I hope everybody had a good weekend!

    HD,

    I think every trader needs to keep up with the Fundamentals even if he/she is more on the Technical side. The daily trading signals from that site I recommended is pretty good cause you wont have to to spend more a few minutes a day to get an overview of any important news releases that may or may not affect the pair(s) you are trading. And the best people to teach you how to avoid getting caught on the wrong side of the news, are the people who specializes in trading it :)

    Pips!

    35-50% month huh? lol…sounds interesting…But since I know you are a man that uses a lot of leverage I wouldnt think the stock world would be as appealing to you as forex…If you are an intraday day stock trader you would be getting 4:1 leverage..if you doing daily(or greater) swings it will be more like 2:1..additionally you will have to deal with commissions, decreased liquidity(in some cases), and decreased market hours…dont get me wrong, there is lots of money to be made is stock, but lots N lots more in forex imho…but from a diversification standpoint, it will definitely something I’m look into again once mi get mi pips dem flowing :)

  120. fxbiz November 5, 2007 at 9:29 pm #

    Pipslovah, Chris

    Thanks for all the information you have provided on the forum. I have read all your blogs, bibpips and now finishing up on Auslanco’s Strategies.

    I’m new to the forex trading but not stock trading. I been practicing with a demo account for a couple of months. I am trying to learn the art of forex trading.

    My question to you Pipslovah is the blog you posted about your account where you traded for a month and made 16K. How were you able to manage your risk reward? Did you use Auslanco’s strategy?

  121. Pips November 7, 2007 at 5:49 am #

    Hey fxbiz,

    last month of october was an awesome month all together, and even on the very last day oct31 made the most money from FOMC fundamentals…the ending balance for the month of oct, surpassed 16k by far :)

    Risk reward was based on an autotrade system (trade robot) that me and mi bredren created based on our own strategies and also along with some of aus’s strategies incorporated in it. But if u were to follow auslanco’s strategy and his forum thread, u would still have made alot of money that last week in october. My trading style is a bit different from auslanco’s as i mentioned to Chris that i dont use stop loss to cut losses, but to use them as a means to lock in profits (trailing stops). Unfortunately I cannot disclose too much detail on my exact setups as my bredren plans to go public with it to give those cashplus, olint etc etc a run for their money… ;)

  122. Pips November 7, 2007 at 6:06 am #

    Massah CHRIS!!!

    Tried some a ur stocks trading on aleccoh on dowjones…I realised it uses 2k to open a 1 standard lot contract and each point is 10$, very similar to some fx pairs…made a likkle $600 from it ;) Don’t laugh! Its my first time trading stocks… :) But its demo money still tho at aleccoh…plannin to put in some real money in there soon… Gona continue test it out for this month of november and see if it really does what it says about not freezing etc etc… But the leverage is still not so good compared to my CMS though… ;) but i guess in the long term, reliability wins overall,especially if we’re gona be using only robot systems to do our dirty work from now on.. :)

  123. fxbiz November 7, 2007 at 4:45 pm #

    Thanks Pips. Let me know when you go public.

    I was experimenting with Auslanco formulas. I see you mentioned to Chris about MT4 and VT. What is you opinion on the two programs? I was looking to see if Oanda uses one of them but I did not see mention of MT4 or VT. Do you know if Oanda uses them, and if not who would be a forex company to use.

  124. moony November 7, 2007 at 7:45 pm #

    As a newbie so far I have a created a demo account and I have download forex tester for back testing. Starting loosing by trading on one timeframe. Now I have managed to secure 9 wins two losses in the pass few days by trading only on candlesticks and mulitple time frames and fundamentals at the moment. Not sure if this will last. Fundamental helps to forcast trends and also helps to tell when market will move because of news release. I guess I will continue to use candlestick/timeframes/fundamentals to ensure that I can easily identify the various candlesticks doji, morning star, shooting, hammer, hangman etc and get use to using the trading plat form trailing stops, stop losses etc then I will move onto trading with more advance strategies. Note it takes time to get use to the different types of candlesticks. reversal etc.

    PIPS

    Thanks for #108, #112. Made some money off trading USA/CA demo that is, I have been living in Canada for approx. seven years and would never have thought the dollar would have been up by that much. Anyway.

    Pips/Chris

    Kinda previous here. On the note of automated system what kind of language, API do you guys program in? I notice Interbank FX have there own programming language?

    Found this it might be of interest

    http://www.moneyshow.com/msc/traders/webcasts.asp?wcpage=arch&scode=009835

  125. Chris November 8, 2007 at 6:02 am #

    Hey Moony!

    If automated trading is what you are into then I recommended finding a broker that supports Metatrader 4(MT4). Pips in the one that put me onto finding a broker that supports MT4 and both he and I are demo-ing the same broker at the moment. Actually, Interbank FX is also a MT4 broker and their are many many other around. Interbank FX calls their platform FX 4.0, but thats just their repackaging( I believe). I also have another autotrading setup but after seeing how easy it is to develop a robot using the MT4 platform(assuming basic scripting experience), I definitely think that is the way to go especially if you starting out fresh.
    Soooooo, now if you MT4 broker pissed you off, you can just packed up and and go find another MT4 broker without having to go through some elaborate code conversion etc etc…Right now I have a bunch of autotrading code that I can only use with one broker..and as I go through the conversion I’m realizing I could have done the same thing is less than 1/4 of the time and the code would have been a lot more robust..you can start with the Interbank FX demo and then go from there…Hope that helps!

    Here is the MT4 Documentation Website

    http://www.mql4.com/?source=terminal

  126. Chris November 8, 2007 at 6:02 am #

    Hey Moony!

    If automated trading is what you are into then I recommended finding a broker that supports Metatrader 4(MT4). Pips in the one that put me onto finding a broker that supports MT4 and both he and I are demo-ing the same broker at the moment. Actually, Interbank FX is also a MT4 broker and their are many many other around. Interbank FX calls their platform FX 4.0, but thats just their repackaging( I believe). I also have another autotrading setup but after seeing how easy it is to develop a robot using the MT4 platform(assuming basic scripting experience), I definitely think that is the way to go especially if you starting out fresh.
    Soooooo, now if you MT4 broker pissed you off, you can just packed up and and go find another MT4 broker without having to go through some elaborate code conversion etc etc…Right now I have a bunch of autotrading code that I can only use with one broker..and as I go through the conversion I’m realizing I could have done the same thing is less than 1/4 of the time and the code would have been a lot more robust..you can start with the Interbank FX demo and then go from there…Hope that helps!

  127. moony November 8, 2007 at 2:12 pm #

    Yow Chris,

    Thanks for this response. This helps for sure. Atleast it allows me to avoid such pitfalls down the road. Not ready for robot system yet. I want to creep first before walking by doing manual trading for atleast a year so I can get a real feel of things. I can code so not a problem with writing scripts. With an automated system running man naw fi watch indicators and candlesticks as much.

    RESPECT and big up you self, PIPS and others who have made this possible because the learning curve for FOREX would be much longer.

  128. Chris November 8, 2007 at 8:45 pm #

    No problem moony, and I’m glad I could help :)

    Pips,

    Check your email

  129. fxkohai November 12, 2007 at 10:05 am #

    Hey Guys n Girls,
    Do you know about http://www.alertfx.com, its a useful site that can send text messages when specific criteria (eg: currency price) is met on your currency pairs. And its free

  130. HD November 12, 2007 at 4:51 pm #

    Hey pips,

    thanks again for mentioning VT trader its making a big difference now in terms of how much I am learning and gaining confidence. Only problem is that it does not run on MAC OS so I am using my company Windows laptop. But I guess if I can make the dough with the trading I can invest in two more laptops at least.

    Question: What differences in trading should I expect when moving from Demo account to live account (except for the fact that I could lose real money) ? Is it much harder ? will I wun into problems getting b/s orders executed ? will they change the spreads or close my trades if I am making too much profit ?

    Thanks again guys

  131. HD November 12, 2007 at 4:54 pm #

    FYI….this morning so far I am making roughly 350 pips from 3 trades I opened late last night in my demo account. Went short on GU, AC, and EU. Think I will close AC now and go long on UC.

  132. Dwayne November 15, 2007 at 12:53 am #

    hey lagies and gent,
    I was just online checking out some sites when i saw this one.
    forex trading trading seem to be very interesting and i would like you guys please to give some info on how to get start and learn the market. This site is very infomative, the best..

  133. Pips November 15, 2007 at 4:23 am #

    Hey HD!
    Great work HD….u gettin the hang of the pips.. :)
    Demo to Live…well like u said..REAL MONEY!! so done know ur brain gonna keep on reminding u that its REAL MONEY!! ;) So its the real challenge for ur head.. but once u master the psychological factor and keep ur cool, and above all STICK TO WHA U LEARN or ur strategies so u don’t end up in panic shock and do trades like a mad man!!
    Always stick to ur good Money management skills too.. so tryout a live micro account wid micro lots then when u get use to using real money..step up to mini account wid mini lots and den d grand final wid standard lots… :)
    And umm, change spreads will only occur if u using a variable spread broker..if its a fixed spread broker then u wont hav to worry…
    Umm..close trade if u mekin too much money?? how much is too much?? I am rockin minimum 20-50kUSD per trade entry on my regular account so far no problems… so not sure if dat answer ur question of u plannin to mek a million$ per trade :)

    Gotta run..peace!

  134. delroy November 20, 2007 at 8:28 pm #

    i need more examples on trading

  135. HD November 25, 2007 at 10:31 am #

    I am going to practice maybe until end January and see how well I am doing. I still need to be disciplined to stick to whatever system I am using and just experiment more in general see what happens if I change the systems up a little and try to enter a little earlier or a little later and decide when it is too late etc. I think I also need to refine how I set stop losses and have more patience to wait for my open trades to come out of the negative and in the positive.

    Hey was it me or was last week a relatively bad week ? Did you do as well last week as you did the previous ?

    What are the main sites you use to follow the news ?

  136. Pips November 26, 2007 at 11:55 am #

    Hey HD!

    Wish u all the luck in your trading and success bro. Its great to familiarize with a system ur comfortable with and then can work towards mastering that system/strategy. Yes patience is key when it comes to trading as well..if u’re into short scalping techniques by taking small quick profits then patience will rarely do u well as u will jump in on a ride up or down as it happen to grab small pips and then call it a day. :) But i do not recommend this trading style until u get a grasp of the general trading idea. so get use to your longer time period trading style first and get use to the ryhthm of the market as well to know what and how things/events affects it. and on which days of the week, time range when that particular pair is more active etc… Basically get to know the pair or pairs you’re working with.

    Umm, last week bad week for which pair??? Things were a bit whipsawing every now and again but overall it was a good week still..

    for news, u can use forexfactory as usual, or dailyfx.com, also bloomberg

  137. Mr. C November 27, 2007 at 8:38 am #

    Just want to say thanx to all you guys for the assistance here. i opened a demo account early this year (Oanda), went thorough babypips, did well felt that i was at the top of the class. after a few months opened a live account (mini) with $400 as i thought experience was the best teacher. Let me tell u guys who think that is lie the others are telling…..
    demo trading versus the real thing is totally different psychologically.
    anyways traded and made 40 or so pips the first week. it felt good. by the end of the month i was down 250 pips. decided to take a break from this. got encourage ment from Pips, HD, Chris and the others here based on their experience. so i decided to study one currency pair the GJ
    so here i was with less than $200 in my account. after reading this blog and studying a system suggested by Pipslovah for that pair i started again last week and now up to $405 in my account.
    whats my point, it can be done but discipline is needed to do research and tough it out. Pips comments is true listen to them, expereince is a good teaher so thanx guys.
    i still have so much more to learn cause now i know i have not made it as yet, money management is important, strategy is important. for example i read where Pips says he did not utilise a stop loss, risky thing but i tried it and it worked cause i would have been stopped out many a times if i did. all the advice were given already so i am not here to add any, just to say thanx to you guys.

  138. Pips November 27, 2007 at 9:02 am #

    Hey Mr.C

    great to know u catchin on to tradin…

    http://www.forexfactory.com/showthread.php?t=54086&page=46

    The above thread is from Breeze, he’s a fantastic trader and on that page traderjoe tries to explain how he applies “hedging” to his tradin…breeze and i dont use stop losses anymore, WE HEDGE! :)
    get use to it on demo..and u’ll see wid d rite mix of indicators, u’ll profit whether d market goin ur way or against u…
    peace

  139. Mr. C November 27, 2007 at 9:35 am #

    Respect Pips, thanx again

  140. Chris November 29, 2007 at 12:36 pm #

    Hello All!

    Glad to see everyone is learning and moving along…I’ve been little busy with work and working on my trading automation but I should be around a little more now..

    Mr. C

    Good work!! Thats actually the same pair I’m working on autotrading.

    Pips

    Damn you Pips for holding back on the Hedging lesson :D lol..going to have to read up on that this weekend! thanks

    Chris,

  141. fxkohai December 1, 2007 at 6:11 am #

    Hello PIPS !

    Thanks for the link to Breeze’s thread, apart from Trader Joe’s explanation of how he hedges, Breeze has not yet explained how he hedges. (quite a number of experienced traders have used hedging instead of stops). For a while I had been experimenting with hedging, instead of placing stops but I always had a problem getting out of the hedge eg: I would close the hedged position too early when the market reversed and started to go in my original direction only to have it turn again and I would end up with an unprotected losing position. Some traders place their hedges way below the expected high or low of the day similar to how Joe places his hedges. What I also tend to do is, Instead of for example a 50 pip stop on a trade, I place a 50 pip hedge, If my hedge position gets hit I reassess and try to trade out of that situation or if I am unsure of the market direction I close both trades and just accept the 50 pips loss. I am trying to improve my hedging skills, how many pips away do you place your hedges and how do you trade out of these hedge positions? Thanks

  142. moony December 3, 2007 at 12:02 am #

    Pips/Chris

    Based upon your experiences which one is better Pivot Points or Fibonacci Lines? Given that data presented is the same ie. support/resistance but their price valuesare different. Also, how does the estimated high/low of the market affect your entry points?

    Thanks

  143. Pips December 5, 2007 at 12:52 am #

    Hey guys,
    Been very busy lately, and i see there isnt much goin on here so i guess everyone is doing great with their learning ehhh :)

    fxkohai, yea, hedgin can b a technique to master…and that brings around moony’s question regarding pivot points and fib lines… in actual fact u can use those fib lines and pivot lines as a guide as to when to close out your hedges when it touches a major support/resistance area.

    So moony, I use those pivot points and fib lines religiously each day in my system.. I actually use both so is not an either or kinda thing for me as over time those pivot points along with fibs provide almost very accurate points to enter or get out of a trade. As with the estimated high/low of the market varies between currency pairs with regards to entry points thats why u would use other confirming indicators like momentum, stochs, rsi or qqe to give u a proper trend price direction. So continue to master them bro…coz its what was developed for floor stock traders normally use to trade their stocks..and THANKS to Chris, he inspired me to dip my big toe into stock and options trading..and applying those pivot and fib lines have reaped tremendous rewards daytrading the stock market as well. :)

    Good Luck everyone.
    Peace! :)

  144. Pips December 5, 2007 at 1:03 am #

    Heya Chris,

    Man…look like both a wi busy starr coz mi respond to u email and cant hear back from u again… :) Hope u ok still… and ye man, converted over some of my fx trading strategies and systems into doing stock trading.. I was surprised they’re pretty similar in nature and only a few tweaks here and there it was good to go for trading stocks. I’m with Ameritrade still, easiest to open an account with, but if u got any better ones from your experience, let me know zeeen… Lataz

    Pips.

  145. fxkohai December 5, 2007 at 6:14 am #

    Thanks Pips,
    So the man master the FX game an gone onto the next challenge (stocks n options) ..fi real !
    Thats what I love about trading, the skills are transferable. You might want to also look into trading the mini-indices (Min-Dow, mini S&P etc) http://www.globalfutures.com is a broker that can facilitate this.
    http://www.optionsxpress.com has very good tools for Stock n Options trading etc. but their commisions are higher than most, Interactive Brokers are the lowest I think. I plan to get into these other markets later but I am a bit wary of stocks n options cause a lot of insider trading involved (even pon the Jamaican market), and since me is just a likkle man trying to learn the game I try to look for a more level playing field.
    But I would like to hear what someone like Chris with experience in these markets, has to say.

  146. moony December 5, 2007 at 9:51 am #

    Thanks Pips for your response in 143. # 144, Trust me it’s nice to know that the skills are transferrable. Oh by the way one more question. Promise, last one fi now. How do you compare EMA to the QQE indicator? Which one is a better trend indicator?

  147. Mr. C December 7, 2007 at 5:59 am #

    Guys along with the GJ pair, another pair that behaves similar to this is the AJ. if you have both pairs open at the same time you can make twice as much easily. however you can lose twice as much as well. so you have to make sure you are patient and trust your indicators / system. also i think making sure you have enough margin is important as well.
    anyone knows how to set alerts for crossing indicators using VT trader? do i have to modify their system or create mine and install it before i can create it?

  148. fxkohai December 7, 2007 at 2:29 pm #

    Hello Mr. C, you are actually on to something … actually All the yen currency crosses with the base currency of the major currency pairs move similarly (eg: GJ, EJ, NJ, AJ ..) . But the closest in behaviour to the GJ is the EJ (because of the connection btw the British and European economy) and likewise AJ to NJ ( because of the connection btw the Aussie and New Zealand economy).
    Because of these correlations some traders use currency hedging as part of their carry trade (ie: trading to collect the swap interest )strategy.

    Currency hedging is basically trading one currency pair along with another to minimize your risk (not the be confused with the hedging that Pips mentioned earlier which is a buy and sell on the same pair). As you know the GBPJPY and EURJPY tends to move in the same direction. The idea is once the pairs are expected to go long, you go long with the GBPJPY and Short the EURJPY to hedge the down side risk, in the interim you are assured of getting the difference btw their interest rates eg: $27 – $14=$13 daily.
    Close when the direction changes. This also works with the GBPUSD and EURUSD and any other pair that has a similar correlation

  149. Pips December 7, 2007 at 5:08 pm #

    Hey guys…
    Thanks fxkohai post #145..I will check them out still.. :)

    Moony… EMA and QQE, which is better trend indicator…hmm..I’d say both have their purposes and advantages still so I’d rather recomend u to use both becoz for QQE is more of like a “Strength Indicator” so when they cross, u have a decent chance to grab some pips in the direction that it crosses, but also any figure near 65-70 would b overbought and figure below 35-30 would b oversold..so u can use it as a guide as well in this area as to when to really lock in your profits. Please remind yourself however, in ranging markets and situations where the market is indecisive, you’ll get some fake qqe cross overs tho, so make sure u use proper money management and along with other indicators as a guide zeeen.

    As with EMA, or moving averages in general, they are more of trending purposes to me and they do work that way still..but also traders use them as support/resistance lines too..some common ones used for longer term trends are like 50EMA, 100SMA, 200SMA…and shorter MAs like 5SMA or 8EMA, 21EMA are among the popular used…
    On FF, Hakuna page MPP has a nice post there #10

    http://www.forexfactory.com/showthread.php?t=49770

    Oh gotta run guys…lataz

  150. Pips December 8, 2007 at 2:40 am #

    Hey guys…

    Bwoy, its been a hectic month…but anyways, wish you all a Merry Christmas and Prosperous New Year when it comes! :)
    Before I go sleep, I’d like to share something I came across on forexfactory.com and I’m sure some of u probably have seen it already. ;) Its a thread by Mysticgenie, He turned 1k to 126k in A WEEK!! :) using his technique. I’d recommend u try it out on a DEMO first before u even try it on u LIVE money please!!

    Also I’d dont recommend u trading as “extreme” aggresive as he does with maxing out his Lots sizes to the limit that even myself get scared at first.. :) So please dont blowup ur account ok! But! If you use his strategy conservatively using proper moneymanagment, you’ll still benefit alot from it with a decent amount of wins per week, maybe not turning 1k to 100k per week but sure can get u several thousand$$ per week once u master his combination of strategies. Also ignore the idiots comments that some ppl made there thinking that he’s a fraud or lying etc..this just reminds me of how ppl a fight ‘gainst cashplus etc for doing ppl a good deed…Anyways not gonna get started on dat topic.. :)

    But once u try it out and understand it, u’ll find it a very valuable technique to add to your trading arsenal. Please do take note of “automan’s” explanation on how he traded it too and dr.zeus’s comments as well when combining it with the indicators that he uses..

    OH mysticgenie introduces one major thing that I’d strongly recommend as well.. COT report!

    http://www.forexfactory.com/showthread.php?t=56670

    Enjoy..!! Happy pipping

  151. fxkohai December 8, 2007 at 6:37 am #

    Thanks for post #150, Santa Claus ..er, sorry I meant to say Pips :)

  152. TB December 8, 2007 at 9:44 am #

    http://www.minvestment.com/?r=jettt
    Take a look

  153. fxkohai December 8, 2007 at 9:06 pm #

    Hey TB !

    PLEASE MOVE WID THIS MINVESTMENT FOOLISHNESS ..WE ALL KNOW IT IS A HYIP SCAM. You keep posting this foolishness every chance you get, them run you on the other forum and now you come here with this ! This forum is for trading, go find some other ppl to trick.

  154. Pips December 9, 2007 at 10:34 am #

    Hey guys,

    minvestment??? :) Calm down yaw fxkohai…we all know that we traders will more than likely get more than what these hyip places are offering per day…look at it as a challenge yaw… make sure u mek more than the 1.9%/day if u account is more than 1k or 2.3%/day if u account more than 25k…so at the end a d day.. u’ll say HA!!! I beat dis idiat track record an dem likkle %%% pfft… ;)

    Anyways… Last post I mentioned the use of COT reports… here is a intro to what it is

    http://www.investopedia.com/articles/forex/05/COTreport.asp

    It is very good to know these details, as you want to know where the “big dogs” are putting their money so if majority of the big players are Buying EUR, then it would b an alert for u to look for buying opportunities on your strategies..
    Also check out pfxglobal.com, scroll to the bottom of the screen, you’ll see a part there that sez fundamental analysis, go there and you’ll find all the major COT reports there. Othere places to look that are updated every week as well is dailyfx.com or do a search in forexfactory.com coz some traders post the latest COT reports there as well… So have fun… Peace!

    Pips.

  155. fxkohai December 9, 2007 at 3:24 pm #

    There is nothing wrong with investing in a managed FX fund but some people don’t realize that Hyip funds are scams, (as soon as they get enough deposits they cut and run wid yu money, and you cant trust the Hyip monitor sites either, they are involved, and believe me I have nuff facts to support what I am saying ). This one mentioned in post #152 even have agents in Jamaica going round and encouraging ppl to deposit. The thing is when this one pop down, I bet you will hear some uninformed people saying that the legitimate FX funds will do the same. Mi just get angry when mi see innocent ppl fall victim to evildoers. Anyway mi dun talk bout this, He who has ears let them hear !

    Master Pips, I will “use the force” and not let my emotions get the better of me again and cause me to be overtaken by the “Dark side”. I am now fully focused on the Art of Trading :)
    I just start going through mysticgenie’s forum, still don’t see his strategy yet but I still have some more reading to do. And thanks for the info on COT, will have more to say/ask once mi finish reading. Oh and Merry Christmas and Prosperous New Year to you and yours too !

  156. HD December 9, 2007 at 5:33 pm #

    Hey Pips,

    Your the best man ! I wish I could reach out and buy you a drink or something. Just reading you last post , really honorable for you to take the time to post these tips because I know you don’t need to.

    Anyways, last time I posted here I thought I had a system but it worked for about a week and half and then it started turning against me. I decided at that point it is not a reliable system and maybe I need tweek it or come up with a new one or find a totally different system. Since then I have been really busy with the 9-5 trying to make a new client happy. Anyway, I nee dto make more time staying up late or something.

    Hey, all the best to you man, Merry Christmas and Happy New Year and THANKS ! THANKS ! THANKS!

  157. Pips December 9, 2007 at 6:31 pm #

    Hey Guys,

    No problem, I try to help u guys out as much as i can still but its near end of yr, and lots of activities +personal stuff to wrap up…

    Whatever your strategy is HD, just remember, to take into factor OB/OS (overbought/oversold) levels on 1HR and especially 4HR Timeframes… If ur system comes up with a signal to tell u to BUY, whether it being broken tru a major trendline or resistance or whatever, but your momentum indicators, whether it being macd, slow stochs, rsi are OB status, take extreme caution..u more than likely still b able to scalp 10-20 or so pip profits from that Buy signal trade, but within nex 30min to nex few hours the market will and can reverse hard on u due to its OB status… Same applies for Oversold statuses.

    So if the longer TF like 4HR and compared to 1hr supports your direction or analysis then u know u have a very small risk ratio and a very profitable trade. Sometimes add some patience to it and it will go your way.. :)
    Lataz

  158. Mr. C December 10, 2007 at 8:33 am #

    Hold on , whats with this early Christmas wishes? u guys not gonna be around or you just wanted to say it from now in case you forget later in the month? at any rate just wanted to say thanx again for all the help and all the best for the holidays.
    Guys based on your expereince is December traditionally a slow month?
    For OB/OS indicators do you use the conventional/default settings? if not what settings do you use?

  159. Chris December 10, 2007 at 8:27 pm #

    Hello Everything!!

    How are you doing???

    Pips,

    I replied to your email about 2 days after I got it…hmmm…I’ll resend it though…I’m really glad to hear that you like the stock world..make sure you send mi my recommendation fee :D lol..Oh yeah, try Interactive Brokers(IB) for the stock stuff..actually thats whats they are known for more than FX..10 times better that ameritrade..about 2 years ago I got mi stocker trader friend to close him ameritrade acc and move to IB and to this day thats thats the only broker him use for stocks …dem have better execution and lower commissions, more orders types, autotrading support thru their APIs…but same as using them for FX..complication platform and questionable customer service..oh and their charting sux..got to take the good with the bad i guess :)

    All,

    I’m glad to see everyone is working on their stragies :) My damn 9-5 is really crampin my fx style but I plan to find some time to do some live trading this week come hell or high water!! :)

    fxkohai,

    Interesting info about the correlation between all the JPY pairs.. I’ve been kinda focus on developing a system for GJ…it would be really nice if it works on those other pairs as well…
    As far as the stock stuff the playing field definitely aint level but the little man can still make money..I kinda left the stock world for the time being but know people who consistently make money trading stock based solely on technical analysis..its all about about finding the right basket of stocks that works well with your trading strategies…you only have a fews thousand to sort thru :) When you find a good 10-20 that seem to behave in predictable manner MOST of the time then you are set…

    Ok, its time for mi dinner folks..I’m come back later…take care folks

  160. Pips December 10, 2007 at 10:19 pm #

    BREDA CHRIS!!!!!!!! :)

    Hmm, I dont get nuting from u bro…dont tell mi yahoo start nyamin mi emails now too ;) This is a conspiracy mon! :( But glad to see u post here about the stock broker question i got.. ;)

    So far jus been dippin my toe there but I think IB needs a min 10k to open a stock account tho and its pure margin account nuh? I trying out ameritrade cash account fo d time being wid 2k just to test d waters of what d stock market world trading is really about and if there’s much difference than my FX. So far being quite profitable with technical trading alone tho, but the fundamentals do help…what i dont like about it tho is that I have to purchase 100shares to equivalent to each pip/point movement is just $1 and with 1000shares, each pt movement is $10..so somwhat similar to fx $pip movements amnts. As a full blown FX trader, holdin a darn trade in stocks fo more than 1 day is getting to me tho :) but i guess thats where u buy, hold and prosper comes in.

    And yes, fxkohai is right about the */yen pairs, u can surely benefit from all d pairs, but lose just as much if dem go against u.. ;) also sometimes, few carry trade pairs will perform better than other pairs. try dem out on ur system and u’ll see.

    Here’s a good site for u and others to add to you favorites..it has many other info too but on this page talks about the correlation of the majority of pairs

    http://www.mataf.net/en/forex/trading/correlation/table/

    Lataz bro..
    Peace! :)

  161. Pips December 10, 2007 at 10:42 pm #

    Mr. C,

    Hey man, yup dec is generally a slow mnth but dis mnth is hard coz nuff rate cuts deh bout to coz nuff volatility in d market…jus know one ting wid rate cuts tho is initially u’ll have a knee jerk dip but becoz interest rates are cut, stocks rally, so in turn it will drag the carry trade pairs up but since tis is december, and profit taking will be more than likely in the market, u’ll just have to take profits and come out when u see signs of reversal.

    As with OB/OS settings, the normal default are good but u can fine tune them wid different settings to see what they look like on u chart.. some examples are like for slow stochs, u can use default 14,3,3..or increase that to 15,3,3 or 20,3,3 to see what matches your charts movements the best. MAcd, is default has always been used commonly on 1hr, but for 4hr in mt4 we normally use 5,13,1 coz it look kinda weird under VT trader..dont know why..
    Anyways…gota run..peace..
    Pips

  162. moony December 11, 2007 at 12:14 pm #

    Pips,

    Thanks for your answer to 149. So much to learn. Anyway, di man dem, ooops ladies as well if present have a Merry Christmas and a Happy New Year. :-)

  163. Dellypow December 11, 2007 at 2:41 pm #

    The fed just cut the federal funds rate by 25 basis points.
    To the experts: Will this have an immediate effect on Forex trading or will the market behave in the same manner as the stock market which had already factored the cut.

  164. Pips December 11, 2007 at 6:01 pm #

    Hey guys,

    Yup, This is the perfect example of where fundamentals is important.. Unfortunatley today, look like the market wanted a 50bp rate cut but instead they got the 25bp cut which yes they’ve already priced in so a strong sell off occured for profit takes from the previous bull runs. This to me is just temporary though so but as I always tell ppl, trade what your charts telling u and not by instincts or gut feeling. So if ur charts are burstin out SELL SELL, then sell it backside. to lock in some profits along the way and vice versa. Dont ever be stupid to hold on to a losing gut feeling. It is indeed the end of the year folks, so expect alot of crazy movements.. :)
    Trade safe..

  165. Chris December 13, 2007 at 8:02 am #

    Pips!

    I sent resent my email reply again..Did you get it?? Anywayz, I think the minimum for IB is 5K not 10K unless they recently changed it..Either way, you’ll save on commission big time using IB for stock instead of ameritrade

    All,

    So how is everyone’s learning/trading coming along??? Sorry I’ve been a little out the loop but Master Pip’s brain and fingers is must stronger than mine anyway :)

    Well I did just about all the demo trading, jedi mind control training, and backtesting I could stand and now I’ve moved to live trading(just micro lots for now…) Last night I caught a 100 PIPS off selling GJ so I guess I’m off to good start! Now I just got see if I can do this consistently..Hope everyone is having a week..lata

  166. moony December 13, 2007 at 9:52 am #

    Pips,

    #164 I did sell it backside and made some PIPS.

    # 165
    Good job. As a newbie I have made approx. 300 PIPS so far this week on technicals and fundamentals . I have been practising for almost three months though. Trying to soldify my strategy. I have taken pieces from here and there and I think I am almost there in having a solid one. Lots of reading. So for the skeptics, large ROI can be made. To further confirm what PIPS said in earlier post you need to have these in place

    http://www.babypips.com/blogs/pipsychology/4_reasons_why_traders_lose.html

    I must say many thanks to all the man dem who tek the time to give us the info. I tink I have said dis a million times already. LOL. :-)

  167. Pips December 13, 2007 at 11:05 am #

    Hey Chris,

    Yep got u email bro..but jus so damn busy to hit d reply button to start type at that time… I have to get use to IB’s platform…it jus so damn un-user friendly… and yep charting sucks.. so where d heck u get your charting bro?? Thanx for your reply on d email yute…

    Moony! Great work! Bwoy tings just great dis week, u catch big dutty sell pon GJ and nex day it move up a big dutty buy pon it dat went further than d day b4, and den another half a big sell followed by another semi big buy… MAN… u jus gotta love dem swing trading days here.. :) Hope u made some nice pips from d swings…

    Peace all!
    Pips

  168. fxkohai December 13, 2007 at 11:43 pm #

    Hey Pips,

    Optionsxpress probably has the best charting tools for stocks n options, with screening utils for you to filter stocks based on volume, volatility etc, and you can do what-if analysis on options strategies and demo trades etc (dont use the default html chart setting but detach the java charts, they are better ). Once you open the account they give you 2mths to fund it b4 they terminate your access, so what some ppl do is fund it with just $1 so that their access does not expire. then use their analysis tools and then place the actual trades on the Interactive Brokers platform.

    I am still going through Mysticgenie’s thread and have a trivial question for you. How do you go about filtering through these posts so quickly. Do you read each page or mostly the post from the thread creator? Alot of times I see some interesting thread titles but I am turned off by the first couple of pages because of some of these posts or sometimes the creator takes a little while before fully explaining the strategy. Also have you been able to successfully use Mystic’s strategy on the 15min timeframe? Thx.

  169. fxkohai December 14, 2007 at 12:24 am #

    Hey Chris,

    As per your response to post #148, yeah man..quite a number hedging strategies out there for fx. in fact the most common is Buy UsdChf and Buy EurUsd and collect $7.80 -$3.50= $4.3 daily interest per lot (only on FXCM, IBFX and MBT platforms at the moment), there is a very strong inverse correlation btw these pairs, sometimes they dont move together but these pairs always realign eventually (see Pips correlation table in #160) so once your account is large enough you could hold these trades even when its going against you while collecting daily interest. So lets suppose you had a $5 G in you account and you held these trades for one year, thats 30% pon you USD money in one year (Mr NCB and BNS can’t match that). This is a Very conservative strategy but you could earn with it while you master one of the many strategies that Pips has told us about ( For these and other strategies, We give thee thanks Oh Pips ! Amen !! :) )
    In fact check this site http://freedomrocks.com these guys have taken this info, added some “bells and whistles” and are now charging a fee for their strategy. I don’t recommend that anyone sign up with them cause this knoweledge should be free, but you can watch the webinar, and use the free trial to see what Its all about. Anyone considering these strategies, As with everything else mentioned on this site, PLEASE DEMO FIRST!

  170. Pips December 14, 2007 at 4:43 am #

    Yo fxkohai…!

    THANKS FOR THE ADVICE ON OPTIONSEXPRESS!! :) Hope them dont ban my account after a while for jus using their charts alone ;)

    Ye, I actaully spent the time goin tru every single page on the thread, but ignored the idiat negative post dem, so u can actually go thru it quite quickly. 15min TF using his method, no never really tried that as I really hate trading on lower time frames these days, gives too much fake signals…but if you’re a scalper for just 5-10pips then it should work still..I’m mainly on 1HR-4HR TF to capture 100pip minimum per trade. But I do however use lower TF 5-15min charts for entries and exits if ONLY the 1HR or 4HR looks like a trade setup or signal develops. I mostly trade in 1HR TF tho.

    Actually, mystic got pieces of his strategy from imransit’s method here

    http://www.forexfactory.com/showthread.php?t=48926

    His strategy scalps in the 5min charts for GBPJPY, so maybe u want to check this out too…

    As with trying it out, I’ve been testing it as described there still, but of course u need supporting indicators like u macd, stochs, rsi etc…to filter out bad trades if possible if u’re targeting larger pips.

    Oh yea, freedomrocks.com wid good ole cynthia and linda… :) yep they charge quite a hefty amnt for their hedging info.. but i agree with u still, it sure as hell beat the banks and money market rates… and further more as u’ve already explained..its a set and forget thing too once u have enuf equity to allow the pairs to fluctuate…. ;)
    Good info there fxkohai!

    Anyways guys gotta run again…Lataz

  171. Chris December 18, 2007 at 9:23 am #

    fxkohai ,

    Yes thats some very interesting info and that type of hedging will eventually be a part of the more conservative part of my portfolio..I’m gonna have to read up some more and do some demo-ing though..Man everytime I come back to this site you guys give me another book worth of information to read! :( lol
    I’ve been experimenting with how to use hedging instead of a SL and so far I’ve seen some pretty good results. NOTE: I have NOT read the hedge thread that PIPS posted yet though..The moment he mentioned it a light went off in my head as to exactly how I “could” do it so I’m kinda testin that out at the moment…I figured I didnt want immediately to tain my genius with someone else’s genius…unless I find out that my genius may not be so genius afterall :D lol
    Whats I’ve found it that using hedging instead of a SL makes more sense BUT you have to really to know what you are doing…The manner in which you enter and exit your hedge position will vary depending on pair, timeframe, and even the kind of system you are using..the you will have to take the time to find the way to do it based on your particular technique/pair/timeframe..For “EXAMPLE”(just using random numbers), if you had a system for GJ that orginally had SL of 100PIPS (with a 200PIP profit target)…u could replace that SL with hedging the original GJ position with another position GJ (in the oppisition direction) whenever down by lets say -100PIPS…Once hedged u could release the hedge when the original position was back to being down by around 80PIPS..taking a loss of around 20PIPS on the hedge(plus the spread), but still being in my orginal position..However, If not done correctly you might find yourself be hedged, unhedged, and re-hedged over and over and over again..definitely not good..so as I said I think its a good strategy to use and I’m pretty much done with using SL..but you definitely have to take the time to the time to test what hedge entry and exit point will work best for you situation..otherwise, you might end up worst off that if you had just used a SL, or simply no SL at all :D lata folks!

  172. Chris December 18, 2007 at 9:28 am #

    Also, that type of hedging makes a lot more sense you you are autotrading with a robot (which is how I plan to use it)…Hmmm doing that manually seems to involve waaaay too much screen watching for me..but to each his own :)

  173. Pips December 23, 2007 at 11:34 pm #

    MERRY CHRISTMAS AND A PROSPEROUS NEW YEAR WHEN IT COMES!!!!! :)

    Yo breda Chris, I not getting the results on aleccoh with my system and i do noticed the data feeds are at least 10-15pips off sometimes between it and my cmsfx… but anyways glad to know that at end of my live full autotrade robot results from feb19-dec23 2007 yield a 4039% ROI on an account with starting balance of $2000 in feb, now a whopping $82,775.50 in dec23… :)

  174. Pips December 23, 2007 at 11:43 pm #

    I gona try using northfinance with their 1:500 leverage and see how that work out :)

    Their margin requirements stay the same, thats where cms sucked at coz as u go above 10standard lots, each add lot is 1k coz i tried the same system on a 10k account, but only yield 3068% ROI ie, 10k = $316,822.20 from feb to dec same time period. but its still a nice gain for a fully automated system still… I gona try northfinance out still, and plus they give out FREE debit cards for withdrawals so that will take care of u getting ur money without it been wired to u, and u bank, government etc not gona know bout it.. :) Its as offshore as ucan get there bro…

  175. POSITIVE December 24, 2007 at 8:20 am #

    Hi everyone. So far everything hear looks FRENCH, however I am determined to learn FX and stop letting these HYIP people take my money.This definitely is the blog that I can learn something from.Merry Christmas and all the best for the New Year. I definitely will be on stream SOON.
    I have started to read baby pips .com,any other thing I should be reading now?
    Any other advise?

  176. POSITIVE December 24, 2007 at 7:35 pm #

    post #4 tells it all, It pays to go through before the questions,I realize I have a lot to read and be busy for a while.Thanks guys !!!

  177. Pips December 26, 2007 at 1:03 am #

    Hey Guys! Hope u all enjoying ur holidays :)

    Welcome… POSITIVE… yup, u can tryout at babypips.com for starters coz dem explain stuff in baby lingo.. ;) and then u an move on to my other links to expand ur knowledge.

    Chris, Hey, jus to add to ur hedgin idea…could hav sworn u got a camera inna mi office bro coz u idea/explanation technique is very similar to how i’m doing my hedges ;)

    U’re rite..where one would apply their stoploss, is where i would hedge IF AND ONLY my other supporting indicators are telling it that there’s a potential reversal strength due to unexpected fundamentals etc… Now once hedged, now what?? and when to book profits on my hedges? Two ways…
    1) I love the use of my pivot points and fib points for support/resistance lvls, so I look for possible areas around these where price action seem like it finally losing steam and unable to break any higher or lower
    2) Used in conjunction with the above, is also confirming INSIDE BARS

    http://forums.babypips.com/free-forex-trading-systems/1487-between-40-100-pips-per-day.html

    Here’s a link that gives a brief explanation on how to use inside bars to recognize possible technical patterns.

    So with all said, chris, Thats when i normally close my hedges..but thats not all… ;)
    Once all the above confirmed, and hedges closed with modest profits added to my overal equity balance which gives me more buying power or usable margin…and most importantly my tradin system still has the old/original signal direction which signals a trend contiuation is in order… what to do nex?? sit and wait for price action to go back to your original open position so u can be in profit again?? Which might take a while under most situations probabaly hours, to a whole day or 2…

    PS..PLEASE GET USE TO MONEY MANAGEMENT AND ENSURE U HAVE MORE THAN ENOUGH MARGIN TO DO WHAT I DO NEXT…!!!!! AND DONT ATTEMPT IT IF U NOT SURE!! I’ve seen ppl lose lots of money doing this coz of poor money managment and allocation of usable margin…BE WARNED!

    Ok…jus had to say that part coz its really dangerous if u dont know wha u doing.. Ok continuing now…what i would do instead of waiting for d damn price action to go into profit zone for my original position which can be 100, or 200, or 300 pips away depending on the pair u traded.. I start to add positions from its current lvl, so even if price does not go back to your original position’s profit zone and its still in -ve, but the newly added positions will more than likely almost always cancel out that -ve and bring to to overal +ve profit.
    example..GBP/JPY…using Chris’s 100pip stop loss theory.. :)
    1) Bought 1 lot at 227.00

    2) Fundamentals cause sudden reverse of position… Hedged at 226.00 (this is where chris 100pip SL would have been, but we hedged in this case…)

    3) Price shot down past several minor supports and fib points… ((normally price gets exhausted after its 2nd support/resistance lvl penetrated and if it does reach the 3rd lvl, its more than likely getting itself onto Overbought/Oversold levels depending on the scenario)) So lets say price went as low as 223.80 and that lvl is at the 3rd support or probably even punctured the 3rd support but it gets so exhausted now that u can see the price and volume just too weak to go any further…and then u see inside bar formations of it done with the fall for now…I take profits on my hedge…so from 226.00 to say 224.00 coz price bounced away from the 223.80 area and dont want to go any lower..thats 200pip profit on that hedge banked to ur account…

    4) Ok, now i still have a flipping position opened from 227.00 which is in -ve 300pips! So when all criteria met for a retracement from that fall, i add another buy position from 224.00..so now i have 2 buys…one at 227, and one new one at 224… Price began to move up due to oversold levels and it workin itself from whatever fundamentals happened…if volume is typically getting stronger as it goes up.. and ur supporting indicators supports the view that the price is ready to continue its up move, then I add another position ONLY if my margin can manage the extra position..so lets say at 225.5 the volume and strength of buyers at that lvl were good and ur indicators support that theory..and my account usable margin can manage, then I buy another position there…so now i have 1) 227…2) 224, and now 225.50…

    5) Lets say that after this now, the market got stagnant abit and moved up only to 226.00-226.35 area..and u see a typical tiredness of the “bulls” taking the price any higher, and start to see the price droping again…then its a good signal for u to close all positions..so what u get in the end from this retracement swing trade?? Lets say price buck at 226.35 and start to drop and it reach 226.00.. so u decide to close…
    227 open buy closed at 226.00 = -100pips
    224 open buy closed at 226.00 = +200pips
    225.50 open buy closed at 226.00 = +50pips profit
    Therefore from this u net 150pips profit from the buy, and dont forget the 200pip profit from the hedge earlier on! so between hedge and unhedge and reload new positions..its about 350pip profit total.. :)

    This is just an example of WHAT I DO, just to add to chris’s theory on hedging.. :) so don’t try it if u dont know wha d ^%$$^! u doing zeeeen! ;)
    U can try it on demo but never on Live until u fully understand how to manage ur account margin properly..

    Peace!!!

  178. Pips December 26, 2007 at 1:15 am #

    OOOOOOOOOOOOOOOOOO Hey…jus remembered somthing similar happened on this month’s december’s rate cut outcome…GJ shot down several 100s pips after the news at 2:15pm, and after 5pm, price stalled and next 24hours it went as high as near 700pips from the low.. u can check ur GJ charts on that day for reference… :) Now with this I think I banked over 1000pips on this swing from hedgin and unhedging and reloading positions within 24hrs… chk it out zeeen….
    Lataz

  179. Pips December 26, 2007 at 2:12 am #

    ALMOST FORGOT!!!

    Fxkohai, optionsxpress jus email mi an tell mi seh dem dont want nuh jamaicans pon dem system so I cant apply for an account there

    CHRIS!!!!!!!! Interactive brokers 3k minimum opening balance is for individuals that are 21 years of age or YOUNGER!!!!!!!!!! I WISH I WAS BACK TO THAT AGE NOW!!! Oh my God, the girls dem…ahhh..memories…lol :) But nope I aint 21 no more and sure dont think i can adobe photoshop my way to modifying my passport date of birth ;) so their minimum for mi is 10k! :(
    Anyways..lataz..

  180. Chris December 26, 2007 at 4:28 pm #

    PIPS!!

    I hope the man had a merry Christmas! Well I’m really happy to hear that my theory actually has some merit…I guest I need to start paying closer attention to the random ideas that pop into my head…And the fact that I planted a little camera in your office doesnt hurt either lol :) The way you use hedging is simply genius!! To think I was that close to figuring out how to turn my loss minizing technique into a pip generator :) Man it just makes soo much sense I wonder why I didnt think of that! lol..Once you dont over margin your account by not using sound Money Management, you rack up some serious PIPS even when the market doesnt go in the expected direction.. Man I’m really hoping 2008 will my year to shine as a FX trader! I just finished going thru that “1k to 100K in a week” thread…pretty interesting stuff..If you take the time you thru the thread you will definitely find a things or 2 or 3 to add to your trading arsenal ;) Good..Thanks again for all the time input..lata

    Oh as far as interactive brokers yes the min is now 10K..these people keep raising their min..in the past 5 years I seen it go from $500(non-margin)/$2000(margin) TO $5000 and now $10000…next year its gonna be 20K..lol

    PIPS! you just too mean wid ur passport/photoshop scam!..no wonda dem run wi offa di other blog :( ..LOL LOL! LOL!! ahhhhh I crack myself :D..ok ok ok, mi really leaving lol

    Chris,

  181. Chris December 26, 2007 at 5:10 pm #

    One more thing PIPS!

    As far as northfinance with their 1:500 leverage let me know how that goes..Do they come recommended by anyone you know, or are you just gonna take a chance..I read some mixed reviews on that in the forums though so I cant wait for your review :D Have you been demo-ing them?? Is their price action similar to ur cmsfx and fxcm??

  182. fxkohai December 27, 2007 at 7:10 am #

    Hey PIPS,

    Sorry mi neva realize seh Optionsxpress have that restriction, well them can try but them cyan stop wi suh easy right? :) Mi send specific info to yur email.

    Later

  183. Mr. C December 27, 2007 at 9:42 am #

    Pips, Chris, fxkohai, thanx for the belated Christmas gifts. Like Chris i had a similar theory about making profits from the swings. i did a similar thing with my account recently but i did not have so much methodology to it. i just basically looked at historical highs lows, resistance and support levels, find the mean and applied the good ole mean reversion thoery and took it from there. money tight so i could not take too many chances but yes overall i did do that sold one of my position then buy again when its one the way up.
    guys i have been thinking to try the EJ pair. i think it swings similar to the GJ but with less spread am i correct. another thing guys why not edge from the get go. so you open your position edged or if you are in the money shortly after then open a edged position right after……….and then apply what we just learned from sir pips would that work?
    Please listen to pips advice about being careful with this though, it requires balls of steel and patience
    positive welcome, you have to have that same attitude towards forex. after you think you have finished reading, read some more

  184. Pips December 27, 2007 at 10:29 pm #

    YOW Breda Chris!

    Ye mon, i wish i coulda remake mi passport u see and mek tings easier to get into IB with the 3k.. :)
    But unfortunatlely not so wicked yet, so was hoping u coulda help mi out pon da scam deh… ;) It shouldnt be too hard tho coz mi tun 26 recently so if u can turn d 26 to 21 den we GOOD TO GO BREDREN! :)

    Re:Northfinance, I have a few sistrens and bredrens in dere and so far not much problem dem seh..only ting is dem cant scalp wid it..very strict trading rules u TP has to be above 10pips i tink so really sucks for those ppl who targets 5-10 or so pips per trade…

    Been demo-ing dem still, and find dere leverage very very attractive to my strategies and even better than cms’s leverage by far coz dem just FLAT wid dem leverage…as compared to cms’s as u pass 10standard lots, each additional lot dem charge u more for margin requirements, so in otha words, cms’s leverage drop from 1:400 to 1:200, then 1:100 and eventually 1:50 as standard lot sizes increases… but northfinance is just consistent 1:500 all the way whether mi let off 100standard lots pon dem :) so dats wha ketch mi attention.. gona try dem out still and see wha happens.. :) Will keep u updated tho… FXCM on the other hand is straight 1:200 on mini, once account is less dan 100k i believe, and 1:100 if over 100k accounts…and Price action seem more or less the same tho…but what really got mi started is of course northfinance’s leverage..

    RE Interactive brokers, yep, mi nuh tink mi gona signup wid dem until mi get a good grasp on how d stock market work fully coz bwoy, mi jus found out seh stock brokers dem hav a restriction pon flagging ppl as day traders, and some rule bout if u flagged as a day trader u need to have minimum 25k as equity etc and so forth…man dem a mek mi testing d waters of d stock market hard mi yute! :( Next ting dem want know mi undawear size to rahtid.. :)

    Re: the hedging, yep it work wonders if wi know wha we doin bro, unfortunatley i cant seem to mek a tradin system out of it tho coz it need our human analysis of the broader market..and even if I try making one, it gona be a whole lot a conditions and arguments involve in d code coz i have to incorporate the daily pivot and Fib points in dere and other indicators to know when to close d hedge and reopen new positions etc… So if u got any ideas on coding it, please share… :)

  185. Pips December 27, 2007 at 10:33 pm #

    YOW Fxkohai,

    Got u email and respect zeeen…will look into it still…but for now mi a gwan use ninjatrader 6 platform to do some testings, and ameritrade’s own charting package… but thanks for the info zeen…

  186. Pips December 27, 2007 at 10:47 pm #

    Hey Mr. C,

    As i noted earlier post on a website that shows u the correlation of pairs..and yes GJ and EJ are very closely correlated but u also have to keep in mind tho that they are still in fact separate entities…and there will be times when GJ move massive amount of pips, and EJ just crawling and dont be surprise to cuss EJ wha d FART u naw move and GJ ah move so wicked… or vice versa…It happens, but always trade what its EJ chart is telling u if u’re trading EJ and never assume 100% to use GJ charts and den enter a trade on EJ thinking that it will do the same all the time…I got burnt from this assumption b4 so I’m tellin u from actual experience that even as closely correlated as they both are, there will be few times when their price actions differs so dont be caught offguard zeen. Above all trading FX general rule is NEVER ASSUME! If ur charts and indicators r tellin u dis is happening den dat is happenin.

  187. Pips December 27, 2007 at 10:55 pm #

    HEY GUYS!

    Is it just me or is Post#4 that neva want show up from before actually showing up now???? Or is a duppy post and it show up when it feel like?? @-)
    Anyways Wish u all a prosperous new year 2008 zeeen…

    Pips

  188. Chris December 28, 2007 at 9:39 am #

    Top of the morning you guys (& ladies if any :) )

    Mr. C

    Its funny you mentioned just hedging from the start cause I was reading a post in the forums from a guy that used a similar technique to turn 5k in 50K..unfortunately he said he eventually lost it all ..lol..but I think bad money management had to lot to do with why he lost it all..but then again, it probably had a lot to do with why he made so much too lol..what an interesting double edged sword huh :) He said he would just open a random position, hedged it, and then come back a few minutes/hours later..then he pretty much did what Pips described earlier…I think there is definitely something there, but nothing beats just getting in right first time and not having to hedge at all :D

    Pips!

    We’ll have to work on that our ID scam so we can be young again..you have 4 more year til the big 30..but mi hav only 1..so we hav to hurry! :( lol

    I see they got you with the daytrading rules..Its a real pain though..its just some crap they came up with a fews years ago to keep the little man outta daying trading game..so now dem seh you cant make more that 3 round trips(buy/sell) within any 5 business days unless you have at least 25K in your account…such a stupid rule!..I was wondering how you were doing those fequently stock trades on such a small account, but I figured the rules didnt apply to int. client or something..but I guess it does, poor Pips :)

    As far as the hedging code, thats actually something I’ve been developing for MT4 so I might have a pointer or 2 for you once I get the details and bugs worked out…last night I was running my hedging enabled EA(demo acc) and a bug caused it hedge my position 10 times instead of once when the market moved against me..but the market move soo much against me that my demo account was up 60% when I woke up(even though the EA closed my original position at a loss)…Now why da hell couldnt I have accidently ran this test on mi real account!! :( …ahhh, anyway time to go get to some stuff done..mi cant reach my FX goal of becoming better than master Pips by just writing loong winded blog post :) Walk good!

  189. Chris December 28, 2007 at 9:41 am #

    Pips!

    I see the duppy in ur computer finally decided to release Post #4…maybe it did it in the Christmas spirit..lol

  190. Chris December 28, 2007 at 10:04 am #

    Pips!

    1 more thing! I can really see how the 500:1 leverage that NF offers can be important especially when you are doing hedging..N I see why you find 100:1 and 50:1 totally unacceptable..Good to know that you know people who got live acc with them and arent having any issues..mi might try dem out too especially since I know they r legit and seemingly honest…I was kinda nervous with dem man…For example, dem seh dem tek credit card fi open account and mi email dem N dem tell something different..thats means they site hasnt been updated in God knows how long…here is the respond I got 2 days later(note the somewhat odd english):

    Dear client

    Thank you for your interest

    Please note that for the time being the only method for deposit is via wire
    transfer

    Our admin is looking into the matter and looking in to a secure fast and
    easy way for our client to fund their account

    Please note as soon as admin has found a solution all clients will be
    informed

    Kind regards
    Gavin
    North finance support team

    http://www.northfinance.com

    …as far as the scalping thing I dont think you are gonna get away from that…most if not all these non-ecn broker have anti-scaling rules whether they like to admit it or know..I prefer a broker to just tell mi up front what their rule is instead of you have to find out the hard way..For example, my MT4 broker’s rule is a 7PIP or 5min mininum..once you stay in the trade for 5min OR make more that 7PIP profit, you wont get flagged for scalping..the 10PIP min. at NF is pretty much the same and really wont affect my trading style..or even yours for that matter :) I was reading somewhere that the MT4 platform was designed to give brokers COMPLETE control over their trading environment…..they have more on/off switches on that server than you ever want to know about..so it helps to stay on your broker’s good side ;)

  191. Pips December 29, 2007 at 1:14 am #

    Yo Chris…

    My God! U a young bwoy too mon!! The way how u sound before wid d dog years of experience in stocks trading I thought u were 30+yrs old, but seem like u’re a young stocks genius bro.. :P Yep, we soon losing the 20+ yrs old figure and going into the 30 zone… :O But its not too bad still coz I aiming to retire from “working” at 35 yrs old or so and just enjoy and live life as it should really be and not just work work work the entire life out coz hey, the world can end tomorow and u sure dont wanna regret that u havent live life to its fullest.. :P So we all should “Work SMARTER, not harder” B)

    Oh yes, stupid BOMMM__#$($%@* daytrading rules on stocks lick mi…well it was a pre warning still so I just cannot trade d damn ting like fx everyday..and wha u mean u thought it didnt apply to international clients??? Tink u deh a Jamaica too bro? Which part a d world u deh?? :P Coz mi want link up wid u someday in person B)

    Hmm, great work on d hedge tho, account up 60% ovanite, u far mo wicked dan David Smith and carlos hill put togetha mon :P Keep mi posted pon u developments pon dat zeen..

    Bout d duppy post now, is Andre duppy dem pon dis blog finally decide fi release the post. IT WASNT ME. :D

    RE: Northfinance, hmm…ah when u send them mail?? coz is for a while now that I see only wire transfer them accept, the other thing was i think e-gold dem use to accept but not anymore mi sistren dem seh…
    Yep, them have a section for trading rules..and it list out d requirements of 10pips TP etc.. dont see any mention on holding time tho, so i guess its just as long as ur target is more than or equal to 10pips dem ok wid it whether it been 1min, or 1hr d position open…so far it has been quite good on demo, and its trading instruments are very alike aleccoh’s with stock futures etc… So in a way its a combination of some of aleccoh’s feautures with even better leverage than my cmsfx..so gona open a live account with them in January new year 2008 and see how good they can be for me in terms of actual Live executions. Will keep u posted zeen.

    Tek care ppl! and HAPPY AND PROSPEROUS NEW YEAR WHEN IT COMES!!!!!!!!!!!

  192. HD December 30, 2007 at 3:08 pm #

    Hey guys.

    Glad to know you are still here and providing a wealth of information as usuall. everytime I come back here I lose several hours reading and following your tips and suggestions….it is well worth it though no doubt….I am glad to know some of my friends like Chris are still doing 9-5 while becoming an expert. I know this thing takes time but I am determined to get up to speed while running the 9-5 and then when I can make 80 Gs with just one account like Pips then I will quit.

    I have been experimenting with different charting tools and system and I am getting to like FXCM and Metatrader so far. VT trader is very good but I keep having technical difficulties with it (charts not loading etc etc) I think I am going to try that optionsxpress and northfinance. I like the debit card option with northfinance.

    Hope you had a good Christmas …mine was so good all I could find in the fridge last night was a piece of ham bone…everyting DONE ! ….Cheers to everyone for the New Year.

  193. Chris December 31, 2007 at 6:32 pm #

    All,

    This will be quick! I want to wish everyone a happy new year. Take care.

    Pips,

    Man I live in the US and left JA many many many moons ago.. but we’ll definitely link up still..well time fi go start ring in the new year :) ..we’ll talk next year kinda pressed fi time right now..lata

  194. POSITIVE December 31, 2007 at 6:46 pm #

    Happy New Year to every one and many,many, many more PIPS !!!!!

    God Bless

  195. HD December 31, 2007 at 7:55 pm #

    Happy New year and all the best for 2008.

    Many many thanks to Pipslovah, Chris and all the other expert traders who are sharing usefull information with us novists trying to learn to trade for themselves.

  196. BlueBird January 2, 2008 at 1:26 pm #

    Happy New Year Everyone!

    Okay…I am posting my first comment here…I have been reading and going to the links (many are blocked at work though :(. Thank you all…especially Pips and Chris for the feedback. I have a personal goal to learn FX trading and the open a real account by April/May of this year. Yes I am a girl :). I am just about to try to see if I can access the demo for most recently mentioned FX sites…I have mi fingers crossed..hire walks strong at work.

    I was following along nicely until the Hedging segment started…Man mi lost now fi real now…post # 177…man alive Pips! mi head a spin…dis pass FRENCH at this point. But I figure I will get it one day…but sometime way down di road because it sound well complex…and can lead to madness if proper practices is not used…but I am someone who believes in working smarter not harder.

    A questions:

    I have been reading and I know Babypips is a good place to start…is there anyway I can learn that details in their course without paying for it? Is there another good free source in one place? Plus I am not even sure if the course material is blocked at babypips…streaming is also blocked here. Oh, I live in the states.

    Which site the best for beginners – provides useful charts etc. that are simple enough for someone at my level.

    Should you need to email me with extra info please email: bird68@hotmail.com.

    Thank you all and all the best for the new year.

  197. fxkohai January 2, 2008 at 3:52 pm #

    Hello Bluebird !
    Welcome to the site, I know speak on behalf of the man dem when I say “Its always nice to be in the company of a lady !” so please stick around ! :)
    As for the hedging stuff ..well thats an advanced strategy, don’t be deterred, by that, stick to the regular stop losses until you are ready to try that one.

    Babypips, School of Pipsology is one of the best ..no need to pay for a course when all the info you need is free on the net, as you know there are many educational links on this forum that can help you, so please go through this site very carefully from top (see post #4, 10, 96), … chances are most of the website links will be blocked if you try to access from work so unless the Network Admin is yu friend .. you might wanna start reading these sites more at home or something .. :)
    PS: Its not a good idea to access none work related sites while still at work cause, you boss probably has a log of the sites that you go to, these are some of the things that may determine who gets the “pink slip” … besides mi nuh think you want him fi know seh you practising to become the next George Soros unda di quiet, right :)

    All the best

  198. Pips January 2, 2008 at 7:44 pm #

    Hi ladies and gents,

    Hope u all had a great holiday and getting a new vibe for a better year 2008!
    Anyways, 1st things 1st, if i dont respond to ur emails fast enuff its becoz i am gettin hordes of them since the day i posted my email address :( Mostly based on subjects requesting me to manage their funds… As I said on the previous blog from Andre, I dont accept any more “clients”, the less the better for me, especially with the FSC clamping down on these so called “investment schemes”, and I stull yet to agree with David Smith, our FX trading is NOT A FRIGGING SECURITY, and it is NOT governed by any jurisdiction of the securities act..Bwoy when dese big govament ppl learn??? Anyways, I just love being anonymous and without the hassle of fsc etc coz I am not open to the public and I intend to stay that way until stupid FSC or JA govament decide to grow up..So please dont send any more emails to manage ur account…

    BREDAH CHRIS!!!!!!!! MAYBE U CAN START MANAGE ALL DEM ACCOUNTS BRO?? I GIVIN U ALL DEM BUSINESS!! AIN’T I GOOD TO YAH OR WHAT BRO! :) So Mek dem know if u ah start somting so mi can forward d kazillion account management requests to u from mi inbox… :)

    Anyways welcome Blue bird, and its good to know ladies are here… :) Please dont attempt the hedging technique as a beginner as what fxkohai has said.. dont learn to run b4 u learn to walk my dear or u’ll fall down hard…

    Well ppl, I gona b going to sweet Asia for their chinese new year festival comin in february, but i will carry my notebook pc wid mi and once i still get net connection i will keep in touch.. but for now breda Chris, and fxkohai keep d place busy fi mi.. ;) NUFF RESPECT TO ALL OF U HERE…

  199. BlueBird January 3, 2008 at 8:25 am #

    Thank you both…points well taken…and I will try to read these materials from home especially on the weekend. Cause you have a valid point. about the work thing.

    I will continue to check in here as always though. Safe travel Pips.

  200. Pips January 4, 2008 at 1:37 am #

    Hiya Bluebird,
    Thanx for the safe travel wish sweetheart… coz i gonna need it… the whole combined journey is over bout 2 days from jamaica to hongkong.. :(

    Anyways, yep, read through babypips.com first to get to know what you’re getting urself into.. and then u can move on to more advance stuff…

    OK, for ALL THOSE WHO JUST DONT WANNA LEARN THIS THING, EITHER TOO BUSY OR WHAEVER REASON U CAN SUBSCRIBE TO AUSLANCO’S SERVICE. He’s a well respected trader that taught me new stuff that i never knew about b4 and also for those who’ve gone thru his thread in forexfactory.com and his own blogs and website that teaches u his strategy, u shuld know him already… Anyways, he’s offering his services to u for 40bucks a month which he’ll be contributing it to the redcross society (hope thats true.. probably pocket some of them once in a while mi tinks.. jus kidding, nuff respect fi d man still.. :) )
    The nature of the service is that he’ll send u emails and sms of trades as they happen or about to happen based on his strategies, and also i tink he’s creating a chat room where all the elite traders and newbies will be there to trade as a group as well so u r not alone… I have not personally signed up to test it out as yet, but I havent heard any bad news on the forexfactory thread about it either so i guess everyone who’ve signed up is happy..coz done know his reputation is at stake here.. ;)
    Here’s the site

    http://auslanco-fx.blogspot.com/

    Peace.
    Pips

  201. Chris January 4, 2008 at 10:40 am #

    Pips!

    I turn mi back for 2 seconds and you over here sweetheartin down di young lady! u should be ashamed of yourself! :D lol LOL! Anywayz, welcome to the blog Bluebird..N excuse Pips, him just dont know no betta :)
    Anywayz PIPS, Have a safe trip man n mek sure you bring mi back someting!

    I dont know what you gonna do with you all your new client prospects, but good luck with all of that! :) mi is still a young jedi (even though the force is very strong with me..lol)..Maybe when I’m done with mi 9-5 I’ll look into a little ting ;)

    Did you get your hedging EA code working yet?? I got my EA to the point where I can open a position manually and then my hedging EA can take it from there..So when I’m X pips down it hedges, and whenever I’m X-Y pips down(i.e. market moving in my orginal intended direction) its automatically releases the hedge…Ultimately I want to make it smart enough to release the when I down by X+Z Pips(thus locking in hedge profits) if there are strong signs of reversal..This is would be more inline with what you presently do manually..Its coming along though and its what I use on mi live acc since mi no have time fi watch screen all day..We’ll see how it go..Once I get that working I can hedge str8 out di gate and just go to bed and home mi computer or internet dont go down :) lata

  202. fxkohai January 4, 2008 at 2:20 pm #

    Hi Bluebird,

    Plz intervene before Pips and Chris start flexing their muscle and doing hand stands just to impress you … tell them that I saw you first right :) LOL.

    Hey Pips I wish you a safe journey, and I know you will be on vacation but while you are there could you link up with a few traders and find out how HK and China government deals with FX trading and FX managed funds, I’m just curious to see how a ‘mature’ financial sector in Asia responds to this. Maybe while you are there you might wanna hop over to China visit the Shaolin temple and bring back some new “fighting techniques” fi improve our trading skills :)

    Anyway walk good mi bredda !

  203. POSITIVE January 5, 2008 at 8:16 pm #

    Hey Pips, thanks for the link to Auslanco ‘s website, I signed up. Hope I can make some money while I learn. Still on to Baby pips while reading the blogs at forexfactory.com, real interesting !!!
    Will let you guys know what happens with the trades.

  204. fxkohai January 6, 2008 at 2:07 am #

    Congrats Brother Chris!

    Looks like your little robot growing nicely, him start walk and talk an kick football …following closely behind PIPS robot, who probably start shave and drive car already :D They grow so fast don’t they, I can see that you are very pleased with your little one :D
    I wanna use my parental skills too, so I think this is the year when I should raise up a likkle robot of my own too, so I’m hoping that you or Pips can give me some advice on growing these little robots :).

    Seriously though, I would really appreciate any pointers you can share here or email to me at fxkohai@gmail.com. I can code but this will be new territory for me, so any code/pseudo code (esp for the hedging strategy you mentioned in #201), will be greatly appreciated. I am looking to develop on the CMS and metatader platforms.

    Thanks

  205. 100 MILLION DOLLAR MAN January 9, 2008 at 3:27 pm #

    Hello Bloggers as a venture funder I ‘am always looking for new market share.

    Let me know if any of you guys and Girls need money to trade for returns.

    All the best for the New Year

    100 MILLION DOLLAR MAN

  206. Enlightened January 10, 2008 at 4:52 pm #

    What is the real difference with the different charting software, shouldnt they all be saying basically the same thing??

    Are the differences aesthetic or are there “real differences” within the different charting software.

    Please comment on your personal view of the MTI charting (they want me to subscribe) and its advantages and/or pitfalls.

    Thanks in advance for the responses.

    blessings.

    NB. IF any of you guys are really good traders and have seen fair returns over a reasonable period, i would advise that you take advantage of 100 million dollar man’s offer, he seems Genuine in his offers, including ones on other blogs.

    100 MDM keep up your positive benevolence ( think about creating a special e-mail address and posting that address so that persons can contact you there personally as oppose to doing open request over the blog).

  207. sharon January 10, 2008 at 6:26 pm #

    Hi Everyone it my first time on the blog….

    I just started learn a few monts ago with MTI and I am also a member of Olint

    Posivitve

    please let me know how is the trade @ http://auslanco-fx.blogspot.com/

  208. fxkohai January 12, 2008 at 7:09 am #

    Sharon, Enlightened and 100 Million Dollar Man welcome to the forum..

    Enlightened to answer you question in post #201, thats like asking what is the difference btw the different model of cars … they all can get you from point A to B, but once you give them a test run you will quickly find out that some just happen to do a better job..

    By charting software I assume you are also referring to the charting packages that come with the different trading platforms, if so the best way to find out would be to open demo’s on a few of them and compare for yourself. They don’t unnecessarily offer the same functionality or they might implement the functionality differently. Two of the better platforms are the metatrader and Vttrader platforms both of which have decent charting functionality and are much better than the I-Trade FX platform that the MTI guys want you to use.

    As for the MTI Charting software ..well I guess if you plan to trade on the I-TradeFX platform then you might need their charting (because I-TradeFX platform sucks when compared to the others) by the way, the MTI Charting software is really just the fibonacci trader platform that they have white labelled http://www.fibonaccitrader.com and created a few trading systems using the same indicators that you might be able to find on other trading platforms.

    But It’s really about personal preference, so experiment with what is available and go with what works for you :)

    Good Luck!

  209. POSITIVE January 12, 2008 at 8:20 am #

    Hi Sharon, welcome to this forum !!!!
    I tried the Auslanco trades a week ago with an account that I opened with $200. I really would not start with more because I am going to take the MTI course at the beginning of February,I am still on baby pips.com.Iost with the first trade it was sold at the stop lost amt.I actually did the same trade in my demo account and I made over $6,000 !!! so I figured opening a $200 account might be a waste of money, and the charges are more for small accounts. I opened the account with http://www.easy-forex.com I am going to open one with Oanda .I did some moe trades on my demo from his site on Friday and they have not been sold yet,I guess his trades are mostly long. I also enjoy listening in to the MTI free online seminars and they are quite good !!! those are live trading and you can actually make money !!!They say once you buy their course you have a lifetime pass to these seminars and some people just come on to get the trades and make money. Last Thursday he did a trade that earned 30 pips !!!
    I am learning from all these sources and really enjoying FX
    PIPS on this forum at post #4 has given a wide range of information as to the sources we can go to .
    All the best.

  210. lover January 13, 2008 at 11:56 am #

    someone please help me.. i dont know much about forex. i am a member of world wise and they recently declare that they only trade $20 million of the $100 million they have under management. Is it possible for ww to make 10 % of $100 mil by trading $20 mil ?

    Thanks in advance for the response (s).
    unitedwereach@yahoo.com

  211. sharon January 13, 2008 at 5:04 pm #

    That everyone for the comment and advise .

    postive

    I also take advantage og shawns trade….he had a very bad month in sepetember of last years and that was my 1st mont trading every single trade that he call that month fail. I kind pf mess me up a bit as it was my fist time I started doubling up on on the next rade and my account took a beating. I broke even in December but I am looking for consistant profits.

  212. sharon January 13, 2008 at 7:39 pm #

    That positive and everyone for there comment and support

  213. moony January 15, 2008 at 3:46 pm #

    Happy New Year to Everyone,

    I have been busy trading and I think I am ready to trade a real account. :-). My trading style as it stands is now Intraday and Swing Trading. I havn’t touch Position Trading and I think I won’t. I have made some big pips swing trading and loving these swings. Made quite a number of pips Intra-Trading as well its like one coco full basket but they both have there purposes.
    Not to say I havn’t lost but overall it is all good and I am in pluses as I have learn’t some valuable lessons. I have done hedging but only when I swing trade.

    PIPS/Chris

    How is the Heding code going? Do you remove the hedge when the trend reverses? I have been writing code as well but still not successful in getting my equity up although I have manage to to acquire huge balances. Any ideas welcome.

  214. sharon January 15, 2008 at 6:30 pm #

    sorry typo….Thanks positive and everyone for your comment & support

  215. moony January 16, 2008 at 7:03 am #

    #210 Welcome Lover,

    10 % is nothing if you become a good trader. You should start out by reading babypips.com. Read the earlier post and you will find all the hints and tips you need.

  216. QUICKSILVER INVESTMENTS January 18, 2008 at 1:12 am #

    Anybody know what caused the euro to go short by 170 pips at 12:00am 19/1/2008? Did anyone profit from it?

  217. Pips January 22, 2008 at 1:27 am #

    Hey guys,

    Man, looks like not much going on here from where i left it… LOL… Yo breda Chris, the asian ladies here are so cute…wonder if i can bring one back for yah… LOL :)

    Hope u all doing wel on your trades… Anyways guys I’m still here in Hongkong, taking visits to china and other asia places… but b4 I go, I want u guys to check out pipsnipers.com and signup on their chatroom, its FREE! if u havent been there yet… Hakuna Matata aka kinn, and jason are doin live trades here along with jane and other experts… I’m there also doin my trades.. :) If u signup, I go by the name Vince, u can pm me there.. :) Last week on their trade calls made about 900pips.. and this week been very good so far… See u guys there to trade together!
    Peace!

  218. POSITIVE January 22, 2008 at 7:07 am #

    Wow!!!! Have fun PIPS , can see you are having a Blast !!!!. Thanks for the info on PIPSNIPERS.COM will definitely check it out.
    Hey Sharon what are you up to ? lets stay together and work this FX. At least we newbies can learn from each other’s mistakes and celebrate each other’s victory.

  219. Pips January 22, 2008 at 7:29 am #

    Hiya POSITIVE,

    yup, I’m in there when i get the chance… and think I’m so far the only one with a screen name Vince there I think… so if u pm a person in there just so happen to call Vince too and he dont have a damn clue who u are or what ur talkin about.. just say ooops sorry, wrong Vince… LOL…

    Its alot fun in there, and ppl there enjoying it more there and hey its FREE not like inside auslanco 40bucks amonth thing.

    So see u guys there.
    Peace!

  220. Pips January 22, 2008 at 7:38 am #

    Oh moony,
    RE#215 as well,
    yup, i think we all made over 90-over 100% last week alone, so yup 10% is easy money…and that percentage is based on a single lot calculation by the way..so if u trade hi leverage like mi and maintain good money managment u get more wid increasing lot sizes… so 1000pips on single lot trades, multiply that by doin those same trades on 2 lots is 2000 “equivalent” pips total and 3 lots 3000 “equivalent” pips on the same trades… Thats the power of leverage, but if u dont know good money management it can be a double edge sword and u gona suffer that same amount of LOSSES! So learn good Money Management zeen…
    Lataz. Going out on the road for mo fun… :)

  221. sharon January 22, 2008 at 7:06 pm #

    Positive I am still here….shawn the guy @ MTI started a program for tuesday night I think he is going to start calling trades too ….I will let you know how I do. I have been busy so I have not been trading that much.

  222. POSITIVE January 22, 2008 at 10:14 pm #

    Sharon , there is a great website that PIPS mentioned in post 217,check it out. They go a bit fast for me but eventually we will catch on.

  223. POSITIVE January 22, 2008 at 10:15 pm #

    PIPS what chart did the mod tell us to keep an eye on ? was it the chart from his demo account ?

  224. Pips January 23, 2008 at 5:14 am #

    Heya POSITIVE,

    what chart? and umm, if u see me on the list of ppl on your top left hand corner of your chatroom client program, u can just scroll down and rite click on my name “Vince” to chat with me in private…
    Hey what’s your screen name in there so I can look out for u too???.. :)

    I book alot of pips today, and kinn, jane and the guys are doing pretty well..easy 4000 pips per month i can imagine… Anyways, sen mi a PM if u see me there ok..and let me know whats ur Screen name so i can hail yah up too..

    Peace..

  225. POSITIVE January 23, 2008 at 7:54 am #

    Hi Pips my screen name is Marie. I was the only one losing!!!! My spread was killing me.sometimes I did nt know if they were in a long or short, so I have to be more alert..I try to ask at the time of trade ,but everyone got busy at that moment.Excellent website though !!!! really impressive.

  226. Chris January 23, 2008 at 12:06 pm #

    Moony,

    My hedging code is coming along but its just not smart enough to properly managed when to release the hedge(it hedges exactly when its suppose to though)…still try to figure how to code that up since I use a lot of trend lines to help determine when to release when trading manually…But yes, you pretty much release the hedge when the “force” tells you a major reversal is pending pending :D

    PIPS!!!!

    How things man?? u even makin mad pips on ur vacation lol..Man bring mi back at least 2 still, just incase the one dont work out :D lol ..And mek sure yu count mi in fi di 2009 trip still..mi deh deh pon mi teeth!! :D..should have this 9-5 out of the way be then ;)

    I’m going to check out that trading room now..I’ll use Chris_JA as my name..doubt anyone will have that..ok lata folks!

  227. moony January 23, 2008 at 1:28 pm #

    Thanks Pips and Chris,

    Newbies keep on reading always new stuff to learn in forex. I lost some cash based on miscalculation sudden news by the FED. My plan was to stay out that day since there was uncertainty and did not realize that the fed had cut rates. It also seems like the news was leak as well. Keeps your eyes open because the news play a big role in moving the market. Lets face it the moves are all based on the economic condition of a country. Anyway, I am recooping already. To me TECHS and Fund go hand in hand. When you can read both more power to you.

    Pips, saw PIPSNIPER.COM mentioned on forexfactory but did not check it out.Thanks. Will check it out today.

    Chris,
    Hopefully you can get your robot in tune. I am putting the bot on hold at the moment until I get some more time to code.

  228. POSITIVE January 23, 2008 at 4:43 pm #

    Pip
    It was great hearing you today on the site.I started a trial account just to get the feel of trading real money and I doubled today. Even when the Mod. was not there trades were still going on. Great website.
    Sharon
    you should sign up it is better than the MTI trades.

  229. sharon January 23, 2008 at 5:21 pm #

    Great web site pip, thanks for the information I saw you I think Vince?? you said that it was great in Hong Kong.

    Positive I saw you too I think you answer my question about seeing the chart.

    I did one trade with then made only 17pips b/c my spread @ ITrade is 10pips on the GBPJPY

    I miss the EURJPY by 15 min that was a great call for 45pips…

    I will be in also tonight my name is Sharon there.

  230. sharon January 23, 2008 at 5:27 pm #

    Positive

    I can’t see the chart when they are posted in the room.

    PIPs howe does that works….I sign up last night

  231. Pips January 23, 2008 at 8:31 pm #

    Hi POSITIVE, and sharon… glad for u two ladies to join in the chatroom, and yes everything is rather fast moving becoz as the moderators spot a trade, they call it out so u have to have your speakers loud enuff to hear it :)

    And also what makes this style of trading move so fast is becoz in every trade opportunity that is spotted, the entry point u made is extremely important, and it will also determine how many pips u gonna make and how much losses u can minimize if the market suddenly reverses. Its all about maximizing ur gains, and minimizing your losses ratio. So like what marie aka POSITIVE had said, just have to be alert becoz it can and will happen very fast..

    Your broker’s spreads SUCKS!!!!! I wont go for any broker who’s spread is more than 8pips.. I’m currently with cmsfx with their fixed 8pip spread, and fxcm with their variable spread between, 3-7 pip spread i normally see on their platform. Also if u read from previous posts here, CHRIS here introduced me to INTERACTIVEBROKERS.COM they have some wicked spread there, but their leverage sucked for my style kinda trading tho, but if u dont mind the low leverage, i think its similar to oanda’s leverage i believe… u can use them interactivebrokers for their awesome spreads.

    See u guys there… Wish u many pips!

  232. Quicksilver Investment January 23, 2008 at 11:26 pm #

    Time to capitalise on this down trend http://online.wsj.com/article/SB120059518628598249.html?mod=sphere_ts

  233. Pips January 24, 2008 at 11:52 am #

    Hey yah guys,

    POSITIVE aka marie! Glad u made some pips, and sharon, hope u got the hang of stuff there, although i few times i saw ur name there tried to private chat with u but never got any response so guess u were away from ur computer at the time maybe..

    Anyways, guess jason pointed out today that we apart from the moderatorss shuld not be throwin out trade calls to confuse the ppl etc etc… I think marie heard it, but i came in the room late so missed some parts of it, but after seeing some guys apologize i think its maybe it.. But anyways, if i’m there and i see any of u there i’ll hail yah up and prolly let u know if i’m in any trade and it will only be between us in private chat… so as marie saw today, the prices hit everything i mentioned while she was there, and later on, i think marie missed the one where I said price would reach 209 area on GJ, and it did in new york session.
    So I’ll be gladly to share my own views on MY trades in private if u see me in the chatroom, coz i dont wanna “confuse” the rest of the ppl which might be conflicting with jason or kinn’s views with my analysis given to them. After all its really their trade room.. :)

    But just for u guys and ladies here, i’l try to give u my own help if i’m there..so far i’ve only chatted with marie.. i dont know the rest of u, so if u see me, u can jus private chat mi there. Anyways, I gotta sleep now…enjoying every bit of this vacation… Peace!

    Pips. aka Vince on the chatroom

  234. Mr. C January 24, 2008 at 1:44 pm #

    thanx again pips, been there a few times, saw positive there as well. all the best guys. Pips at the moment its free but for how long any idea? if there will be a cost in the future did they say how much?

  235. POSITIVE January 24, 2008 at 5:44 pm #

    Hi EVERYONE
    MR.C we get to use it for free until the 1st of March. He did talk to us today on his policies regarding giving trades on the site and how the site will benefit us.Most people who have traded there said that they have drawn down over 600 pips,one person said he has gone over 2000 pips !!! this started about ten days ago (i think ) .but he mentioned that for sure we should draw at least 1000 pips for the month doing this part time.(SOME PEOPLE TRADE 24 HOURS SOMETIMES ) , although the moderators are not in the chatroom all the time.Today the moderator did try to feel out the participants by asking if they would be willing to pay $500 per month for the service, he got a lot of yes after which he said that he was just pulling their legs, dont know if he was kidding or trying to figure out how much to charge us.
    PIPS
    by the time I answered today you left ,I didnt see you early enough.as I was busy typing on the screen at the time.Yes good call last night (our time ) It went through the roof today !!!I lost out though through the SL. as I said, I only started with a very small amt. of money,as soon as I feel more comfortable i’ll put more in.
    Thanks so much for your help and for telling us about this site. I believe it is a life changing experience and yes ,I would appreciate you guiding me on the private chat.Bye the way Pips, he said we should get,MT4 charts and SKYPE installed ,can you give me some information on these? also he said he uses Metatrader what is that ?
    Well have fun, and make some PIPS while doing so.
    Talk to you soon

    Positive– Marie

  236. moony January 24, 2008 at 7:28 pm #

    WOW PIPSNIPER great site. They should have more of these around. Thanks PIPS. I am their as “bwoy”. Sometimes I might be signed in but not using the forum so if a see anyone at the time I will give unna a shout.

    Also, get a chance to talk with the GREAT PIPS.Learning from the pros.

    Yeah, a wonder what the price for the service gawn be?

    Positive,
    MT4 is actually a platform that a lot of brokers use. Once you download and install the platform you can import the various MT4 currency pair charts. You can do a search in google for MT4 brokers. Here is a list

    http://www.forex-tsd.com/metatrader-brokers/10-mt4-brokers-metatrader-brokers.html

    I am currently using InterbankFX at the moment. I am sure there are many others that are evn better than these Interbank. I started my practising with them so I guess I am sticking with them until such time. Last night their system hanged but I think that other brokers had similar internet issues.

    Skype is an internet voip telephone sofware that you can download from http://www.skype.com.

    Hope this helps. PIPS can further explain.

    PIPS
    Jason added and removed lots as he is in a trade. Can you explain how this works?

    Thx.

  237. melanie January 24, 2008 at 7:52 pm #

    Hi Sharon, /Positive . Just wanted to ask you how long did it take you before you satrted trading, and were you in similiar line of work before? I just started doing this online class (fx) and intend on doing the MTI course as soon as I have the funds.It is quite a lot of information to cover! maybe I’m stressing myself too much because I want to start trading soooooo bad!Did you do the MTI course??
    Ive been on this site since early 07 but just posted a few times but I’ve read every one though!!!! All the best in your trading!

  238. Pips January 24, 2008 at 8:04 pm #

    Hey guys,

    Hi Marie, Yes moony, gave some great explanation there on post 236… MT4 is just a trading platform that many brokers use.. I use it as well for charting as well. Glad u all made some great pips.. :)

    As u all know I’m still on a long vacation here in the eastern side of the world, (Its been a very very long time that I’ve ever had a vacation :( ) so I wont be in the chatroom that often, but I’m sure the guys and Jane there should be able to guide u to make good pips everyday.. and if there was something that’s said and u dont understand, I’m sure someone there will explain to u, especially if u’re a lady coz mass amnt of ppl there are men so they tend to answer ladies more.. LOL :)

    Yes they’re pretty good, and I dont think they’ll charge as much as 500bucks tho when they do that. To be honest I’ve made some great trades with them as well, as i mainly major in GJ these days, so when they make trade calls on GBP/USD and EJ, I make even more pips on those short term “snipe” trades with them. So on average my best month on my own trades, PLUS theirs i wrap up close to over 10,000 straight single lot pips. So they’re really worth the while. Anyways, gotta get me some breakfast…. Laterz ppl, prolly see u around the chatroom later if u there
    Peace

  239. POSITIVE January 25, 2008 at 5:23 am #

    MOONY

    thanks for the great info you posted for me, have to look about those now.
    Mr. C
    thanks also for the info you emailed me.I am tied up with all the downloading,reading, studying of charts and trading !! wow ,it certainly is fun(not the loosing part)
    Melanie
    I just started learning, I am at grade 4 in Baby Pips and have a practice account with Oanda ,just decided to test using real money so I started trading a little amt.I was about to do the course with MTI but decided against it ,at least for now. I have been learning from baby pips also there are so much info out there that at the moment I will try to go one step at a time.check out post #4 by PIPS ,lots of info too.
    PIPS
    thanks for everything ,
    great posts, great info every time.
    Chris -Heard you were in the chat room too.

    ALL THE BEST IN TRADING and for the newbies TAKE IT ONE STEP AT A TIME JUST BE PERSISTENT.

  240. Pips January 25, 2008 at 6:26 am #

    Hi guys and girls,

    moony, umm if u dont get any response on ur matter on about take positsions off, is this, when u enter a trade, except when using 1minilot coz u dont have any posistions lower than that… umm.. UNLESS YOUR BROKER SUPPORT MICROLOTS… But in my example, I’ll just PRETEND that the broker DONT support MICROLOTS… so 1 minilot is the smallest lot size position i can open to trade… so if u close the position, u have to close everything coz its just that same 1minilot… BUT IF U OPEN 2MINILOTS , then right where u decide to close a position, on the confirmation close box window, it will show u the amnt of lots field… U CAN ACTUALLY EDIT THIS FIELD to close 0.1 *minilot* instead of the full 0.2 minilots…and so i closed 1minilot at a certain price, and still keep the remaining one minilot going to see if it can go further. This is a strategy that i would recommend everyone do as well. This is where ppl take some positions off at certain level to tek d profits, and then keep some lots still open to see if it can get mor pips in the trade.

    each broker platform is different but when u click on to close a trade, it SHOULD come up with a confirmation box window with the details, and u should b able to change the amount of lots field to whatever amnt of lots u decide to close before clickin on confirm to close. Try it out, on ur demo, and u’ll see exactly how to do it on ur platform.

  241. Pips January 25, 2008 at 6:49 am #

    Yup to see mor ppl there, and breda Chris deh deh too.. yea yea!!

    umm, i think jason today counted that from since they started, till now they get about 1581pips in less than what was it 2-3 weeks now…? somthing like that i believe, but hey as what marie had said, lots of free resources out there to learn this thing..and plus i’d rather open a mini account with that money from MTI course, what was it $2500USD for their course?? and just come inside the chat room and trade, and even if u trade single minilots with those guys there, and i’m there from time to time, u would have made at least 1000pips already, so if its 1 minilot u use, its almost about 1000USD profit there already in ur account in less than a month. So guys, think about it, i dont know what MTI course offers, but it would reeely suck if u paid so much for the course and then end up blowing ur real LIVE account after that.

    As I was suggesting to many ppl today who use small accounts, to start taking advantage of the chatroom from now to build up ur profits, so that when those guys decide to charge in March, u probably make more than enuff to cover the cost of what they’re planning to charge. and those who experience winning pips and their expertise in trades thus far, u prolly liked them. So take advantage of them while they are free guys.

    I dont do trade calls there, coz jason made som strict policies on that coz its their trade room.. :) but as I told Chris and some others, I’ll be there to discuss with u guys my own trades and analysis in private chat..but as u all know, I’m on vacation here in asia so i’m not always there in the chatroom. But when i’m there, I’ll do my best to help u guys out.

    Also moony! regarding ur same question on taking some positions off for profits in certain prices.. i been doin my own trades, and also tradin those guys trade calls as well, but when they all take profit on everything , I analyse it myself before taking 100% of positions off..coz more time when i see that the trade has more room to go, I keep some positions still while they all closed..and most times i made over 100 to 200 pips more than them on the same trade.. I was trying to show a few of u how to look for these potentials, I think Mr.C grasp some of it and Chris as well, but for those who are still learning the market… Study on ur babypips.com so u get familiar with most of the jargons etc, and CHRIS.. aka CHRIS_JA i think, if u see him and have a question, u can flood him with questions if I’m not there. LOL…

    Anyways, i got some more fun places to go to..so laterz. :)

  242. Pips January 25, 2008 at 7:38 am #

    Ladies and Gents,

    Before i go enjoy more sightseeing, I just wanted to share something with u all…

    I just took a glance on andre’s other blog area… i think its “do u have control of ur retirement”, the sameblog that I think mi and Chris get kicked out of coz of our forex talk ..LOL :)

    Anyways, just lookin at some of the comments there and when ppl still depending on hyip’s to make money for them. In a sense I’m very glad a few of u are smart enough to learn to trade on your own and now makes life even easier for those who join in the pipsnipers chatroom.

    Question is ladies and gents, just doing reality check here, so dont be offended, just throwing out a scenario..if one day cashplus, fall off the face of the earth, and olint david smith is the main trader, and something bad was suppose to happen to him and olint lost one great trader and who knows how good the rest of the guys are…and the other hyip’s run weh wid u hard earned money… most ppl seh only invest what u can afford to lose, but u know 80% a d time ppl will put more in hope that it will work flawless. GREED is what in control of ppl nowadays, so if any of those organizations fail, and u put a decent investment there, i really dont want u to get burnt.

    So what Chris and I have been trying to do is to show a new path where U, URSELF can make ur own path towards financial freedom without fretting if d company u put u hard earned money in gona go down one day… Believe mi, b4 i started learning forex, i was all over the place investing in hyips, and what was the best thing again, oh yes, “paid to surf” programs… they were the bomb back then huh guys, those who know what i talkin bout.. then u hav hyips as well… but eventually they all go down, and if u werent in the program long enuff to get profits, u would have lost everything! SCAMMED, CONNED, And KICK URSELF for puttin u hard earn money at those places.

    What i trying to bring across ladies and gents, is Why depend on someone else that might run weh wid u money, when u can actually mek just as much or even alot more on ur own now with ur own trading account. I have scanned thru many places already to offer all these best resources for u to learn, take advantage of them.. especially now with this chatroom thing, is just brilliant… never would u see a group of expert forex traders guiding u to make great money u think was once impossible to make in a month. U can make 100% a month with ease… the moderators are great traders, and Chris is there, and I’m gona be there fulltime soon after vacation…

    So I just had to laugh when i still see ppl asking for referals etc on the other blog and someone mention the blog that its becomin a joke now. Just be careful if u’re still into hyips ok.

    Anyways, sorry to bore yah! just hate to see good hard earn money go to waste. Peace….
    :)

  243. Mr. C January 25, 2008 at 9:50 am #

    Pips i could not agree with you more re the HYIP crap and the new tone of Andre’s other forum. my simple rule is not to place funds with anyone who tells me it has to be locked for a period, not that i have a choice but it has to.
    Pipsnipers.com really good fi real, everyone there novice and experience traders and u can ask all the dumb questions you want or just take what they say as gosple and trade. but as pips rightly said u have to do ur own analysis cause they r humans and make mistakes but overall u win more than you lose with them.
    No problem Marie/Positive glad i could help. Melaine i know you are eager to start but live trading is different from emotinal so put the minimum and see if u dont believe. You have to exhibit one key ingredient for trading, thats patience. even on pipsinper if the right set up is not there people just talk to each other moderator not always there talking, they monitoring charts. the market not going anywhere for now (until the single currency comes in – that time i expect we all would be al long gone) so be patient Mel. and gwaan run the demo
    Saw Pips and Chris there recently and yes pips i did grasp a thing or 2, thanx again guys. nuff more to learn. just remember pride goes b4……so ask the questions if u dont understand.
    Just my 2 cents……. lilli mo

  244. Mr. C January 25, 2008 at 9:52 am #

    p.s anyone here from fxkohai ?

  245. Sunflower January 25, 2008 at 2:25 pm #

    Hey Pips
    or
    Anyone who from pipsniper

    I have been on pipsniper but only seem to be getting the whiteboard. I can see the postings from the chat and hear the trade calls but dont know which pair is been traded. Once Jason said he would put up the charts and everyone indicated they could see them..I could’nt. I have tried so many times. Any idea what I may be doing wrong. I wanted to practice and follow along with pipsniper before i open my real account.

  246. melanie January 26, 2008 at 3:34 pm #

    Hey Positive thanks for sharing your info. I’m encouraged.
    Chris & Pips thanks for all the valuable information and advise that you guys share especially seeing that you dont have to. I appreciate it!
    It sounds weird but its almost unjamaicanlike to be helping others like this , we are always fighting against each other, not wanting anyone to have what you have or more than you.. It was sad!!(was) Its a new day!

    i will have to take it one candle stick, one chart, one analysis at a time in learning about this market!!
    Thanks again guys keep up the good work ! enjoy the rest of your trip PIPs thats on my list of places to visit!!! lata

  247. Sir HD January 26, 2008 at 4:58 pm #

    Hey guys,

    I have been going off track and straying recently. However, I have been doing some demo trades and trying out the different platforms etc. I am getting a good feel and making some good pips occasionally. Made almost 300 last monday alone.

    I think I will continue demo trading for a few more weeks , maybe because I am afraid of margin call with real money. Then I will try going live. Probably take some of my money out of the investment clubs to put in a trading account.

    I can see things have been lively and interesting recently with Pips in Hong Kong and all.

    What times are the moderator available on the pipsniper website ? (I guess not today Saturday with 0 trading) ….I think I might give it a try.

    I am using metatrader from odls , is this okay for the trades and is there a setup that I need to have ?

  248. Sir HD January 26, 2008 at 5:39 pm #

    Hey Pips,

    Count me in on the Asian chicks. I will be in Jamaica sometime during the year…just hide them under the bed meantime.

  249. fxkohai January 27, 2008 at 1:15 am #

    Hail Mr. C ! Yes I am still kicking :)
    Looks like I missed out on most of the fun you guys have been having on pipsnipers. I logged in for the first time for part of the Europe session last friday … that site will certainly assist us in honing our trading skills, I am quite impressed so far.
    Sunflower, if you are selecting the whiteboard (and not the browser tab) and not seeing the charts in the sniperroom, you may need to send a pm to the moderator, I have the same problems too, I kept losing connection and when I re-logged to the room could not see the charts, I sent email to their support and thats what they say we should do (by the way, I was losing connection because my cordless phone was causing a conflict with my wireless router .. I never knew that could happen, I guess we learn something new everyday )
    Can any of you answer these questions about the sniper trades?
    How do they identify the entry and exit points?
    Is it the fib levels or previous resistance/support levels and on what time frame do they identifiy them daily, hourly etc?
    Also I see that they usually use the break of 21 EMA on the smaller time frames to dermine when to snipe am I missing anything else?.

    None of us will be able to be in that chat room 24/5 so chances are some of you might pickup a thing or two that the others would not have heard. It might be a good idea for us to continue to discuss questions we have about the chatroom trades here so that we can continue to learn together and earn while we learn.
    Speaking about earn while we learn … In my opinion Pipsniper chat room is better than MTI chatroom. MTI chatroom moderators may be good chart analyst but not all chart analyst are good traders. Pipsniper traders are good traders, I think they had 7 losing trades in 80 trade calls and made 1561 pips in 11 trade days ! Besides as I have always said, if you read this forum and the links that we have put here from start to finish you will learn more than what is on MTI, plus now we have this sniper chatroom where we can trade with these expert traders and learn from them. PIPS Thanks again for telling us about this one!

    Later!

  250. Pips January 27, 2008 at 6:40 am #

    Yo guys,

    HEY FXKOHAI aka Lloyd, in the chatroom I believe??? Is it Lloyd? Mi figet bro… :)

    Anyways, yup good idea if we can discus stuff here too.. and umm, ok..
    1) How do they identify entries, exits?
    Ans: Dem use dem yeyes… LOL… No seriously, they will tell u its a trade room! They give out trade calls, and u follow as it happens…reason why is becoz they cant stress enuff that as they spot a trate, they NEED to get that good entry price, and I agree, becoz the entry price will determine how many pips u gona mek or how many loss u can minimize per trade..So far their loss drawdown level has been extremely minimal, becoz they got a decent entry price. They might analyse it with u guys after the trade is taken, but they cant seem to stress enuff, if ppl keep askin them what they see and then they take dere eyes off dere chart and price action, might end up missing the trade, and i tell u.. IT HAPPENED B4! The great trade left everybody coz i think kinn was explaining somthing. So most ppl will tell u what matters what they use to determine entries/exits as long as they’re giving u guys great calls making great pips as it happen…Fair enuff.. coz there are newbies there, and its not too hard to just follow the crowd when they hear BUY XYZ at PRICE XYZ NOW GUYS… And then, OK TEK PROFITS NOW GUYS…

    Afterwards then they’ll have more time explaining why they take the trade etc..

    2) IS it fib etc??
    ANS: Yup bro, they use all of that..fibs, pivots, support/resistance, on all time frames!!! :) I have to use them too… I think almost everybody has to, if they want to have a broad view of the market.

    3) 21EMA??
    ANS: hmm, i thought it was 50EMA, but 21EMA is still good i suppose, when u plot it on ur charts it look kinda decent still, and the 50EMA or 55EMA is for medium term short trends.

    I never been to MTI chatroom, but from what u see yes, in 11days of sniping they got 1561 pips total.. if you’re using 1 standard lot on yur trades, this is equivalent to approximatley a little bit over 14kUSD!!! or a little bit over $1400USD if u using 1 minilot… I think most of their trades are from GJ or EJ and these per pip are less than $1 per pip on a minilot basis, so thats why it wasnt $1561USD in case u wondering.

    So they started January11th..and gained this 1561 pips, I’m sure it shuld be over 3000pips if they started in January 2… also as i was mentioning to Chris, that I made alot more with these guys as well, coz sometimes they spot some great entries for me, but more time I got more than them, coz I see that the trade is not over yet, so I held onto some positions, like what I explained to moony, and ride it for another 100-200 more pips on those same trades. So its really good still guys, I wouldnt recomend something if its stupid.. :)

    So enjoy making pips guys… U are literally been SPOON FED the pips to ur account… so make best use of it. :)

    Peace!
    Pips

  251. sharon January 27, 2008 at 9:28 am #

    Melanie

    sorry I have been settin up a new PC….

    I would suggest going through the entire babypips levels before staring MTI I started MTI first back in september and it just happens to be the worst month they had on there trade call every single trade fail that month I lost$5000 it was very disappointed. It next month was better but I was afraid to take there trade….in December I was down only a few hundred mostly on my own trades…

    Try to focus on learning rather than the rade it works bettr when you do that..

    good luck…

    sorry if ther is any typo..my daughter wants attention so I trying to keep her finger off the PC and typing with one hand.

  252. Sunflower January 27, 2008 at 9:31 am #

    Thank you Fxkohai

  253. Pips January 27, 2008 at 10:13 am #

    Hiya Sharon…and Sunflower!

    Hmm, MTI got a bad month…hmm sounds like they’re not as good as i thought and in september last yr too!!!!??? Sorry dear, but i got to say they SUCK then, coz that month and october, tru to november was few of the best months of yr 2007, august was the best. and january 2008 now start the new yr with a blast too. so if they’re not up 3000pips for this january month, consider spending ur money else where than MTI ppl.

    Sunflower dear, I havent caught u in the chat room, but good to see fxkohai answered u… and yes, somtimes if u come in the room AFTER they posted a chart, u wont see it… but like what fxkohai said, jus pm them.

    Also ppl, i think marie mentioned she got creamed with the ridiculous spread from her broker and sombody mentioned d one from i-trade as well… I recommend u switch to a broker that has lower tighter spreads..
    like the ones below:
    1) MBTRADING i believe is what jason is using and i tried their demo, spreads are good.. at leverage 100:1

    2) Interactivebrokers recomended by CHRIS Dah man himself, but leverage sucked at 50:1

    3) fxcm spreads i see between 3.+ to around 7not too bad…, leverage at 200:1

    4) or fixed spreads from aleccohfx that chris is using now, think GJ is 8pip there i believe and leverage is 200:1

    5) or I’m still using cmsfx for their high leverage 400:1, but their execution time is not as fast as the previous brokers listed, and most ppl seem to have problems with cmsfx, but I must say, after they upgraded their systems so far, havent had much problems in terms of connectivity. but if u lookin for extremely fast execution and no requotes, dont use cmsfx, coz dem suck at timing to be honest. I’m ok wid it coz my targets are held longer and i dont scalp 5-8 pips on each trade, and like jason would say, we snipe, which is at least 20pips minimum per trade. Its still the only broker which allow me to open a full 10 STANDARD LOT size contract and using only $4250 as margin requirement, so like I been tellin Chris, this fits my tradin style. :) and my tradin style is not for everyone and especially the weak hearted ppl. :)

    Chk them out ladies and gents and find one broker u’re comfy wid.. but not i-tradefx or so, coz i believe they suck as well.

    Laterz

  254. Pips January 27, 2008 at 10:24 am #

    Hiya Sir HD… Backside… Man have been given the “SIR” title… :)

    Glad to see u around bro, and i see u still been a strong particpant on andre’s other blog… :) Man i hope those investment places are doing well fo yah bro. but u’ll feel mo satisfied and safe when u’re doin it urself. Good work on u trade tho bro. and ODL i think they’re good still. havent tried them on a Live account tho, so i dont know.

    And umm, hide d chicks unda mi bed till u com a JA.. Ye rite…. I”ll jus see if i can fedex them to yah and den u can hide dem unda u bed or wherever u wanna put them. So far this vacation been nice, except dat I man from JA wid temperatrures of not less dan 25 degrees comin inna dis freezin temp of 10 or so degrees and shanghai is getting below 0 degrees too mi think… FREEZIN MI A$$$$$ offf!! :) but overall its good! And Chris seh him ago join mi nex yr so we’ll see… :)

    Tek care bro.

  255. HD January 27, 2008 at 11:19 am #

    Cool Pips ! I will email you my home address to send the girls.

    For any other newbie to the site like myself:

    I just got this from PipChick on the pipsniper site:

    http://www.home-entrepreneurs.com/pips/

  256. Chris January 27, 2008 at 11:38 am #

    Hello guys!

    I’m really happy that everybody is finding the room so useful…Thanks good for Pips and his love for long monologs lol :D kinda reminds me of ones I get at work from di boss, but the big difference here is Pips’ monologs are actually useful and informative..ahhh hope di boss dont read dis blog, mi would be in big trouble :( lol

    I’ve been in the pipsniper room for a few days now and I’ve really picked up on alot of stuff both from Mod and non-Mods..Sometimes just following the discussion that’s going on will teach you more about trading from all different perspectives..sometimes the discussions are more technical and sometimes they are more psychological…all good stuff though! I wouldn’t recommend taking any trade calls from non-mods though because those can be more risky..So far I’ve been in the room for 2 calls from mods.. one I didnt take cause it was my first time in the room..would have made 200PIPS there..the next trade didnt really go in our favor but I still made 12PIPS..so, so far so far…

    Also, I would like to add that you should take the time (maybe after you are out the trade) to go back and try to understand why the particular entry/exit point was chosen..Like Pips said try not to ask pre-trade because this can be distracting to the mods..However, if you are around like 30 minutes prior to the entry you, and have been following the discussion in the room, you might be able to get a pretty good idea why that particular entry point was chosen…One thing that you need to understand is that traditional oscillator indicators (example STOCH) may or may not agree with the calls being made in the room…You NEED to focus on learning where the various resistance/supports(R/S) levels are..these are KING in forex in my opinion..this includes horizontals R/S, diagonal R/S, Fibs, Pivot Points, R1-R3,S1-S3, MA(EMA21,50EMA, 100SMA, EMA200) etc etc.. I mention this because this was something that use to present confusion for me and have kept me out of a lot of good trades..I would see a clean break up of a major trendline but wouldn’t buy because an indicator was overbought..or I would see a clean break down, and wouldn’t sell because my indicator was oversold… Eventually, I came to realize that with certain types of trading ( for example, breakout trading), many oscillator indicators are pretty useless as far as confirmation goes ..So when going back to analyze trade calls you may need to look beyond your indicators (especially in a “Trending” market)…But don’t get me wrong I think indicators can be very useful..For example, oscillator indicators are great tools in a “Trading” market but still shouldnt be used without knowledge of the R/S levels . So I guess my point is you may need to think outside your box (if its anything like the box I had..lol) when going back and analyzing trade calls…Feel free to agree or disagree guys, I think this would make for good healthy discussion 

    Well its looks like a had a little monolog of my own..oh well :D

    Pips!

    I emailed you that stuff man..let me know if that works for you

  257. MoneyChimp January 27, 2008 at 12:07 pm #

    Why didn’t i see this blog before?

  258. Sunflower January 27, 2008 at 1:27 pm #

    Thanks Pips and HD for that link

  259. POSITIVE January 27, 2008 at 7:51 pm #

    PIPS, i do agree with your point about learning the EMA 21, 50 EMA and so on. That is my major problem now. It is really nor broken down in Baby pips , I have not found it on and forex fac., but I know it has to be there somewhere so I have to look some more, but once that is mastered I know I will do a lot better.

  260. POSITIVE January 28, 2008 at 4:01 am #

    oh sorry it wasn’t PIPS it was Chris

  261. Pips January 28, 2008 at 4:24 am #

    hey yah ppl,

    Glad u all havin fun in d chatroom.. :) and CHRIS I PROMISE DIS WILL B SHORT AND NOT MONOLOGS… :) Ye, someone updated mi on what jason had said about keepin u profits made inside d trade room, and try not to give it back to the market by doing ur own trades or following other non-moderator’s trade calls. I agree, coz u surely dont wanna give bak d market even if its a little or some pips at all. SO KEEP U PIPS, DONT GI IT BACK! ZEEEEN!!!

    Honestly guys, I think kinn alone made an avg over 1000 pips a month easy, and now there is jason as well, and jane, great pipchick… :) so u can look forward to at least 2000 – 3000 or more pips avg per month. So if u’re a newbie, try not to test ur own strategy on ur LIVE account and give back those hard earned pips from the chatroom. If you’re experienced, then no problem… but for others who are new, test your strategies on A DEMO first zeen.

    Ok, I’ll be on d road mostly dese days so prolly wont catch mi in d room much, but I’m sure Chris, and fxkohai and others will be there.
    So laterz…

    OH. Marie, Those EMAs that Chris listed are just another standard strategy in trading, I think Kinn uses it religiously as well. Plot them on ur charts and on different time frames and SEE FOR URSELF WHAT HAPPENS WHEN PRICE PENETRATES THESE LEVELS. Then you’ll get the hang of it afterwards.

    Tek care ppl.

  262. BlueBird January 28, 2008 at 1:45 pm #

    Hi Everyone..WOW….I have missed sooooooo much….but am determined to learn FX trading….I have been to busy for myself lately…I have not done anything since Jan 4th…sad to day :(. I have a new project at work..I have read everything posted since then though….here is my situation and please feel free to suggest to best options you think pwill help:

    1. I work F/T and have a very demanding position
    2. I have a 2 years old ( will be three end of Feb.)
    3. I go to the gym after work now 3-4 times a week (6-7pm)
    4. I can not trade using the system at work – of course.
    5. I do take my lunch for an hour sometime between 12 and 2.
    6. My laptop blow up…I have to get a new one
    7. Should I get the T-mobile (anywhere) Internet thing…I know… I can’t recall the name…

    Don’t hestitate to tell me step by step if you want to…I am just open to suggestions…

    When is the best time for ME to trade and how would I accomplish this…I still have to finish Babybids, get a laptop, find time etc. HELP!!! By the way the chat rooms sounds great …I will have to check it out from home..I will use the same name when I go in…..I am on my lunch break now…

    THANK YOU ALL…REALLY all you help is much appreciated.

    Hi Sharon….I saw you on the other blog asking about FX trading…Pips is right…it is best to take things into your own hands if you have the option to do so.

    Bless!!!

  263. BlueBird January 28, 2008 at 2:02 pm #

    Or in general…when i register for these demo accounts and other learnign resources and chats…should I use my real name address all that? I tend not to…I just want to ensure it will not mess me up later.

  264. Lambert January 28, 2008 at 3:37 pm #

    Could someone tell me if Minvestment is still Good. I have money in there for long term. I hope it is still going strong. Thank you for your advice.

    By the way my lewfam is up to date

  265. BlueBird January 28, 2008 at 3:42 pm #

    Lambert,
    Note sure you are in the rright place..you may want to post your comment here: http://wealthmax.wordpress.com/do-you-have-control-of-your-retirement/. That is the place where all the investment options are discussed.

  266. Lambert January 28, 2008 at 5:48 pm #

    Yes. I am wrong link

  267. HD January 28, 2008 at 8:23 pm #

    Bluebird,

    I am not the expert here. However based on where I am today I would suggest that you get a laptop (or PC) and then go through babypips.com, get a demo account, check out pipsnipers.com….again I stand corrected by the experts here but I think the sooner you get to pipsnipers.com the better. I suggest going through babypips.com and practicising at least a little with a demo account first because I think you at least need to know the basics of trading before trading live. I made 110 pips today demo trading on my own but I guess I am a coward I am still waiting to see if I can be consistent before going live maybe you will be braver than I.

  268. HD January 28, 2008 at 8:24 pm #

    Going to pipsnipers now to see how much pips I could get from them.

  269. HD January 28, 2008 at 8:36 pm #

    Bluebird…..you will need a laptop for sure….forget what I said about “or PC”…I am on pipsnipers now and cooking some white rice to go with some stew peas and demo trading with my laptop in the kitchen.

  270. HD January 28, 2008 at 9:37 pm #

    Pips,

    those guys at pipsnipers are good man…I am feeling I am going to trade live soon….got 78 pips in the room today….less than 1.5 hours work …damn !…thats way better than this ^&$@$%$ IT work.

  271. DH January 28, 2008 at 10:54 pm #

    yow HD, these guys are really good, saw them in action. I have a live account with $155 left so I was hesitant to take the trade at 830pm because I did not see the trade and they did not take the trade at 200am when the market hit both a resistant and fib at .618 on the g/y 1hr chart but i well be watching to capture some pips .

    Peace

  272. Pips January 29, 2008 at 1:40 am #

    Hey guys,

    Glad u getting comfy in dere, but i think I have been informed that they’re disabling PM chat in d room coz ppl keep PM d moderators on stuff like “what is a pip?” questions so dem not gonna allow d private chat feature anymore… Well guys, thought we were able to chat there but guess dem gonna cut that out soon so guess we’ll use this blog for QandA then ehhh…

    But so far guys, i dont think anyone shuld b disappointed in following their trade calls. and i know u’ll all love it. I gotta go out again now so tek care ok…

    Peace.

  273. POSITIVE January 29, 2008 at 8:09 am #

    PIPS what was the signal to get out of the trade this morning with g/j ? I lost about 20 pips before I got out . people were saying yes , yes but because there was no sign from the moderators ,i stayed in until i saw posts of amt. of pips that were made.He was clear on the entry, then halfout and so but the final sell i was just not clear there . Did I miss something on signals of getting out of trades? this is important to me because my crazy broker gets 16 pips from my trades. My new account is open just have to send some money to the account now ,so I still have like two days with this madness. Great call though, that was a bunch of pips.

  274. Mr. C January 29, 2008 at 8:45 am #

    Hi guys, yep pm has been disabled as pips mentioned. i did enjoy that feature. would it be possible for us to link up via Myspace or any of the others that offers IM? or if anyone esle have another method of how we can continue to provide “real time” assistance to each other please feel free to say.

  275. POSITIVE January 29, 2008 at 9:05 am #

    Oh realize what happened, the last 1/4 was sold on SL so no call had to be made. They nearly ate my head when i said i did not see the call to sell. Any way we all are going for the same bone so that cant scare me one bit.

  276. Pips January 29, 2008 at 9:07 am #

    Hey marie,

    I think Kinn called out an exit at 213.42 area earlier and then they posted it. Ye what happens was on his last sell, was to leave a single portion position left open, but if u didnt open enuff LOTS u would prolly close all positions at that level at 213.42. Not all brokers can close fractions of positions so u would have to determine what size of a position to close…if its your last position u got left, then u might as well close it there.

    16pips spread!!!! Dear marie! Get a new broker!!!!!!

  277. Pips January 29, 2008 at 9:11 am #

    Hey Mr.c

    Yup, this bloggin thing mayb a bit slow for us.. LOL… so see how things go.

  278. POSITIVE January 29, 2008 at 9:15 am #

    got you, so sorry we dont have the PM feature any more, but as Mr. C said we should try to figure out how we can talk .

  279. Pips January 29, 2008 at 9:16 am #

    ye for real, coz i couldhave guided u on that one. darn.. guess mr.c will figure tings out for us bloggers here to communicate again… :)

  280. Pips January 29, 2008 at 9:26 am #

    K ladies and gents, gona be off again..but plz remember do turn up u speakers so u can hear the moderators in the chatroom…

    Take care ladies and gents. wish u all many many great pips to come.

    V.

  281. Pips January 29, 2008 at 9:36 am #

    OH HEY ONE MOR THING MARIE!!!!!!

    How’s auslanco 40bucks a mnth service compared to pipsnipers? made any money from aus????

  282. Mr. C January 29, 2008 at 9:50 am #

    Anyone tech savy in the house that can provide assitance to keep the link live?Guys would it be possible for us to use skype? if not, techies please send on the suggestions.

  283. POSITIVE January 29, 2008 at 12:23 pm #

    have not bothered with Ausl for a long time,about to cancel.
    Also due to the fact that informations are all over the place I decided on doing the MTI course. I have a friend who did it and man he is doing well !!!I think to trade with PIPSNIPERS it is good, but they dont just call trades as I thought they would , you have to know how to trade to be more successful

    I think Ausie’s thing is similar in that he will give a trade and if you dont know how to read the signals to know when to get in and out you can be lost.

    Pips
    you said Jane posted this morning to get out , but I saw her post HANUKA , was that the signal to get out at the end ?

  284. POSITIVE January 29, 2008 at 12:26 pm #

    dont get me wrong just reeeeealy need to be clear

  285. Chris January 29, 2008 at 5:36 pm #

    Mr. C

    I will have to look into something and let you know.

    Positive

    I do see where you are coming from. Even though they are making trade calls a knowledge of how to trade is definitely helpful and as far as money management goes, I would even say its pretty much a necessity. However, you can still learn tons of things by just sticking around before, during, and after trades..If you dont feel comfortable traing a live account with their calls, then just do a demo for now..The important thing is you can look over their shoulders as they trade and pickup all kinds of things along the way..Just today Jason took a few moments to discuss Money Management and some other things every good traders needs to know..You just got to be lucky enough to be around when these things come up..thats the only prob I guess…The room alone wont teach you everything, but being around soo many good traders is definitely helpful in the learning process :)

    They usually say when they are getting out over the mic and after that they may type that they got out at X price. The first exit message is usually audio only so you MUST have you volume turned up to catch it…If you are just reading the chat stream you might miss the boat…I have to run but I’ll be back later

    Chris,

  286. POSITIVE January 29, 2008 at 6:28 pm #

    Yes Chris, I realize that not having my mic on was the major problem and that in itself was something that I learned. I went to bed hearing the moderators , so i took it for granted that my mic was still on.
    It is a very good site and I will always be there(as long as it is going well )
    About the talk from Jason, I was on line today and heard the talk too.

  287. Pips January 30, 2008 at 6:59 am #

    Hey Marie,

    Oh what i was saying regarding the call yes, like what happened today too i think, kinn made a trade call but was too busy watchin his charts so he asked jane to type it out. and it gona happen more like this coz when somone is calling out a trade, they cant type it out at the same time so more time someone else will type out d trade call in BOLD CAPS. But i think dere doin it on d whiteboard now tho i think.

    hope it answer u questions.. :)

  288. Pips January 30, 2008 at 7:01 am #

    Mahsah Chris..

    I dropped by and see u posted u made som pips today bro… Congrats!!!
    :)

    Keep it goin… I HOPE ITS ON UR LIVE ACCOUNT THAT U MADE THOSE PIPS AND NOT UR DEMO!!!!! ;-)

  289. POSITIVE January 30, 2008 at 7:34 am #

    thanks Pips, yes saw that Chris made some pips today ,congrats !!!.Did you get any sleep at all Chris ?you seem to have been up at all three calls. I did that last week and cant seem to wake up this week, soon get use to it though. Which broker do you use? you seem to have a darn good one. I was thinking of I-TRADE FOREX , but think i heard someone say they are no good. Any feed back on this anyone ?

  290. BlueBird January 30, 2008 at 9:21 am #

    Thank HD….

    I will be getting the laptop soon…I was trying to fix the old one…but that don’t mek much sense it seems…I will do the demo accounts at night then…you think between 8pm to 11pm is good…what you think? Anyone can answer…and should I provide my real name and info when I sign up for the demo account and pipsniper.com? I am reading babypips and the other links Pips had in the earlier posting

    PS. Mi want come stew peas and rice too…YUM!!!

    Thnak you all for the help.

  291. fxkohai January 30, 2008 at 9:22 am #

    Hey Guys n Girls,

    Hope you’re enjoying pipsniper chat room as much as I am !
    A few points: even though they don’t explain their trade setups, as Chris said you can learn alot once you are in the room a few minutes before and after the trades have been executed. Re-read this forum also and the forexfactory links PIPS gave ,there is some info there on Hakuna’s strategy , though its not in detail.
    If you cant be in the chatroom 24/5 then the best time to be there would be during the European session open thats when trends usually develop or intensify. I just ordered a wireless headset from Bestbuy so I can hear when the trades are called and not have to be glued to the PC. Also as Jason says you might wanna get at least 2 monitors so you can clearly follow whats happening on the multiple chart time frames plus the chat room.

    Hey PIPS apart from the fibs, res/support levels etc that they use to identify the trades I certainly did notice that whenever Hakuna pulls the trigger on the trade the currency is usually setting on 21 EMA usually on the 1min chart or a higher time frame,dissecting their trades is certainly building my trading confidence. Lets see if they can be consistent for this week because it is usually difficult to trade in a Non Farm Payroll week.

    When you guys decide on the live solution that Mr.C and Chris mentioned, I will definitely be onboard. we can dissect the pipsniper trades together and expedite the learning. That would be a good way for us to continue our development / re-enforce what we know. I just hope nobody will ask “What is a pip” :)

  292. Chris January 30, 2008 at 2:20 pm #

    Pips,

    Yeah I’m getting my pips on my live account still..actually caught another 26PIPS during the early london today..not missing my zzzz to do no demo trading! lol :)

    Marie,

    I guess I dont sleep much these days but oh well :( I presently use aleccohfx but they have a 8PIP spread on GJ(good broker though). Even with the wider spreads I’m still able to profit, but usually have to wait for a little pullback to get in at the same price the pipsnipers get in at… I’m also looking into opening another account with an ECN broker to get a better spread on GJ. I’ll prob go with mbtrading or interactive brokers(10K account min. though). Dont really know anything about I-Trade forex but here are some reviews:

    forexpeacearmy.com

    Got to run!

  293. Patricia January 30, 2008 at 3:28 pm #

    While I read these posts here everyday, I dont post, but on the issue of conf calls to discuss pipsnipers trades/strategies..I think using skype could work….here’s a link

    http://skype.com/allfeatures/conferencecall/

  294. Mr. C January 31, 2008 at 8:03 am #

    Thank for the info Patricia, so guys what say unu?

  295. Pips January 31, 2008 at 9:08 am #

    Heya guys,

    I-tradeFX sucks marie, stay out of that one. Their spreads are not attractive at all.

    And Chris, glad u making money on u LIVE account! Its about time bro!

    Skype…hmm, sounds intrestin Patricia, thanx…maybe Chris can set it up and gwan run it wid the fellows here coz I’m still on the road most of the times.

    And hey Marie, I just went over to the other blog and Jcan i think his/her name is was suggesting a software..I hope its not 4xmadeeasy coz those green arrows and red arrows sound way too familiar. The software is pricey and it does great in “trending” markets, which u can well trade manually on MT4 charts, if u draw d damn moving averages that Chris mentioned on some earlier post above and have the same gains! It suck on ranging markets, and will give u alot of fake signals. Also U have to subscribe to their signals data feeds on a monthly basis. If ur account is not large enough and have good money managment u can be wiped out easily. SO PLEASE TELL ME IS NOT 4XMADEEASY IT NAME ;-)

    Laterz.

  296. Patricia January 31, 2008 at 11:12 am #

    Chris, thanks for the forexpeacearmy link…

    P.S. saw you and Marie in the room last night, hope u got a good nibble or gobble on the G/J :)

  297. MarioG January 31, 2008 at 8:52 pm #

    You are all angels.

    Pips,
    Continue enjoying your vacation.

    Chris,
    You must be getting a million dollars a week or something or you realy realy realy realy love your job. I do believe in hard work, but YOU can do that without working for someone else, so, you might mind me asking but why are you still working?

  298. MarioG January 31, 2008 at 9:04 pm #

    Any ways I am going to join pipsnipers, make back the five Gs I spent between MTI and I-trade at a whim. Make a little money so I can go study something that is benificial to human existence and most serious thing is fi try get to the Priminister of Ja and even if i have to use hypnosis get him fi try organise with some people like Pips and Chris (under the quiet as alot of people still think forex is a big gamble) etc fi try mek some money and pay off wi big big big debt (if him no nave dat in mind already) and mek life better fi all jamaican people. Mi mean zero % below the poverty line. Mi no knw what wi ago do bout the lazy one dem but mek everybody have good food clothes and homes den wi talk bout dat.

    Thank You all
    Bless Up

    Mario

  299. MarioG January 31, 2008 at 9:06 pm #

    And Chris,
    The question is “Why are you still working the 9-5?”
    Just curious

  300. NAN February 1, 2008 at 5:52 am #

    Hey PIPS, thanks for that advise on itradefx. I was about to sign up with them because of the MTI yes I said i wasnt going to bother, but i have so much to learn and i have so many other stuff doing now that i decided to just go ahead. even if i’m in the car driving i can be learning by listening to the cd’s.
    Also about that software with J’can, I am just curious to see what it is. No siree, i know there are a lot of money grabbers out there.if he/she send it i’ll let you know.
    CHRIS , thanks for that site, it is so informative, still going through it.
    Hey Patricia, welcome !!!

  301. HD February 1, 2008 at 9:31 am #

    Pips,

    Your instincts were right on regarding the software. Jcan seems to have taken your comments/opinion very well and in an intelligent way

    Nuff Respect to you Pips !!!

    Thanks again for the link to the pipsnipers site now I have another profit making strategy for when I go live.

    Just to let you know with all the information and motivation from here I made 20% on my Demo account for January. That is a BIIIIG improvement over November and December when I would just burn through those demo accounts like nothing. It is also a big motivation to go live since that is way more than I would get in most of the clubs except for a few. I could have made a bigger profit on my demo trading too if I was not experimenting as much and sticking to my own rules. My goal is minimum 30% profit demo trading in Feb so I know I can do way better than any club out there. I was getting a little excited about going live soon but I am going to stick with my plan and demo trade for another month before going live. End Feb…. DOORDIE ! alternatively I may open an account just to trade the pipsnipers trade ONLY ! and then start my own trades End Feb.

    Thanks again to all the traders on this side ….Nuff Respect !!!

  302. Patricia February 1, 2008 at 9:48 am #

    Good Morning All!!

    I have told so many folks about this Blog Page,Pips and Chris and the extra ordinarily fantastic job they are doing…..also the pipsnipers…I too am learning and will soon stop peeping over my husband’s shoulders and giving him my 2 cents :)

    I know folks who read this regularly, dont post, but use the wealth of useful info provided.

    Thanks again.

  303. HD February 1, 2008 at 10:00 am #

    So I made 223 pips this morning from gbpchf and 59 pips from eurgbp (demo trading) and I SWEAR I will not give them back to the market …NOT today…NOT next week….NOT this month…I am done for the day.

  304. Chris February 1, 2008 at 11:33 am #

    Hello Guys!!

    Wow I must say this has been a pretty fun week for me with little sleep :) I’ve been having tons of fun in the pipsnipers room and I have learnt more in the last week than I have all year! :) We should definitely have a way to link online and I think the skype suggestion that Patricia made is a pretty good idea..This weekend I’ll try to set something up but for now we can look into setting up our individual skype accounts which I think we’ll eventually need to do the conference thing…

    fxkohai,

    I thing you may be onto something with that 21 EMA on the lowers Timeframes(TFs) being used to optimize those great entries..I will pay closer attention to the Price Action(PA), trendlines, and moving averages(MA) on the 1/5/15min next week and see what else I notice….Great well timed entires are what allows you to keep ur SL tight…greatly maximizing ur Risk/Rewards ratio..good stuff!! :) Pips said he will be on the road for a while but I’ll have to ask him how he thinks those entries and exit point are chosen

    Patricia!

    I seem you made you way over here huh ..I was wondering where all these people come from all of a sudden :) lol ..where Patricia goes they will follow lol :)

    Mario,

    As far as the 9-5, all in due time ;) I still need to prove to myself that I can be consistently profitable in the fx world…And honestly, the more I learn is the more I know I still have to learn…So I take my time to learn, earn, and continue to execute the plan I have created for myself..And when I do leave, going back wont be an option that I ever want to consider…big tings planned for 08 though…big tings! :)

    Lata Folks!!!

  305. Pips February 1, 2008 at 10:46 pm #

    Hiya guys,

    Good to know all of u enjoying yourself on pipsnipers… I dont normally recommend something unless its really good and approved by myself to be worth spreading the word out.

    I’m on vacation still but looking forward to linking up wid u guys in jamaica coz i believe its always good to help out each other in a time of mess with the current govament and fsc situation in jamaica to survive.

    All you other ladies and gents learning to trade fx and in the pipsnipers room, good for you, to take advantage of financial freedom in your own hands and not leaving it to others that might run weh wid u money someday. I do not wish for my past experiences in investing wid others to be your new experiences thats why i am always urging ppl to mek dem own money trading… At least u dont hav to worry if d company will go down or xyz run weh wid u money and sleep well at nights.

    Peace.
    Pips aka Vince

  306. Pips February 1, 2008 at 11:23 pm #

    Yo bredah Chris!

    Zeeeen yute u finally a mek decent money in forex! Yow u stock market boring nuh &$&^$&$! This buy and hold ting jus naw cut out fi mi in d stocks world… prolly have to hold it fi another month or so b4 can get decent returns.. man what a big difference between stocks and forex. And worse part when mi a try close d order when mi in 10 or so % prfit pon a stock, sometime it nuh even get filled tru out d whole day.. hmmm… prolly expecting too much from d stock market compared to d INSTANT execution of a buy/sell order in forex…

    Anyways, yes kinn is the Moving Average Mastah, he can spot MAs while pullin out his patients’ teet (kinn’s a dentist :) ) Its more to than jus watchin the 21EMA bro, and the last time someone ask him what he saw in his charts for the signal, I think u were there too bro, he posted a BLANK EMPTY CHART on the whiteboard.. LOL.. :)

    To me its more than jus lookin at PA and 21EMA, there are other factors as well especially volume, that is how he can determine exits as well, coz if volume is too low after he entered a trade, it could mean either the market is stalling for a reversal coz if the trade call was a buy, and nex few mins while in d trade d volume u see for buyers are getting lower and lower and nearly nonexistence, its best to get out…which he mentions at times on his trades where he says, “guys i dont like where d price is, volume is too low…get ready to com out”… now sometimes, it happens, and then ppl are greatful that the exit was made coz d price fell hard afterwards, and there are times when it jus stalling and then get a sudden boost.. but hey its always better to be safe than next ting it reverse hard on u and u lose out twice or 3times as much. Thats their rule of consistency, MEKIN great pips and REDUCE losses as minimal as possible, there’s always will be a next trade setup, and more time u’ll make back all the previous losses.

    I think I have at least 9 chrts on GJ opened, and 5 charts on EJ, as these 2 are my best friends… rarely trade GU or others anymore… GBP/CHF is another great moving one as well which i trade… I dont think those guys trade this pair tho… but what they’re tradin are pretty good enuff for all of u to mek a killin in d market and mek nice gains.

    Chris big tings a gwan u seh fi 2008, eeeeeh…like wha, U A GET MARRIED!!?!?!?!?!!? MEK MI KNOW ZEEEEEN… :)

    I gotta run again ppl,
    Peace

  307. Pips February 2, 2008 at 12:36 am #

    Yo Welcome MarioG,

    Think I spot u and actually heard u voice bro… Welcome to d fx trading world yute. U went tru MTI course and everyting, so wha happened? U neva mek any money from wha u learn dere at MTI bro???? I still think their course are over priced tho but hope those that spen d money are actually meking bak some gains from d MTI course.

    HELLO PATRICIA!!!!!
    Welcome lady, good to see more female traders.. I agree they are better traders than us males and they learn much faster…coz sometimes I think us males are just too up in d ego or got too much ballz to think we’re bigger and smarter than the market, which is when most guys fail in d fx market coz our money managment will be outa whack.

    Wid d ladies now, sheesh dem stick to dem rulez to d T…and it helps dem in being consistent which eventually makes dem more profitable in their trading. So wish u many many great pips in your account Patricia.

    HELLO HD!!!!!!!!!!
    Yute an yute!! Glad fi know u using u discipline pon u tradin bro, good job! Keep up d good work!!!

    Mi a go pon road and enjoy miself..lataz ppl

  308. HD February 2, 2008 at 2:11 pm #

    Yo pips,

    You absolutely right man….need to eliminate the middle man as much as possible….more money and better sleep at night unless mi stay up fi trade.

    By the way what do you guys/girls think of those two brokers those guys on pipsipers always mentioning. MBTrading ? and Currenex ? I thought someone in the room said you needed 25Gs to start but the web site (www.mbtrading.com) said could start as low as $400. My starting amount would not be as much as 25G’s so just wondering . Did I get the correct name or is there another broker they were refeeing to ? What are your thoughts ?

  309. Pips February 2, 2008 at 9:02 pm #

    Yo HD!!

    MBTrading needs only $400 to start yes u right.. but I dont recommend that tho..need at least 1k-2k recommended to start trading, coz this gives u breathing room to move, and u’ll be comfortable trading.. Think kinn recommend at least 1k too, but 5k he thinks is the minimum..

    Currenex is the one that requires 50kusd minimum account equity. 25k is prolly some other currenex broker platform that reduce their account requirement…I think there are a few that allow u to trade n currenex with less than 50k, forget which ones tho.

    They both are good spreads brokers, but MBT’s platform suck tho, but u can go tru the website’s videos /audio to learn how to use their platform, and i do recommend u get use to a platform before going LIVE so u wont have any surprises when placing ur trades. Currenex is also a very simple and easy platform, clik buy, and sell like wha kinn had said. but currenex 50k minimum is jus to much for starters, so MBT is the next best thing. They’re both reputable platforms so u should be ok.

    Someone also mentioned Hotspotfx been better than MBT tho, but i havent tried it to give my own opinion as yet.. but i believe its only standard accounts allowed tho, so no minilot allowed at hotspotfx, which is the same as currenex which deals in only standard lot sizes… However hotspotfx’s minimum account balace to open an account i believe is 7.5kusd.. which is alot smaller than the 50k requirement of currenex. U can try their demo and see if u likey.. I’ll do the same too.. and do more research on them.. hope they’re not one of the bucket shops.. LOL :)

    Peace

  310. FX4life February 3, 2008 at 12:04 am #

    Hi guys,
    This is my first post but I have been reading this blog almost every day. I am a newbie and have just opened my live account 2 days ago after going through the MTI CDs, babypips and demo trading for almost 2 months. Things have been great so far and I have captured over 100 pips in those 2 days. I have a few questions though which I hope Pips or anyone else can help me with. Here goes….

    What is the best time period to use to get my signals? I was told to use a long time frame such as the 1-4 hours to get my trend and use smaller time frames to identify entry points but those guys on pipsniper seem to only be using 15 mins time frames for everything.
    What is the best pair for a newbie like myself to trade? I am mostly using the EURO/USD because I can more easily monitor the US economy through media like CNBC to know what’s happening there and get a feel of when the USD is strenghtning or weakening. A lot of other persons including pipsipers seem to prefer the EURO/JPY or GP/JPY…don’t know why.
    What’s wrong with ItradeFX platform? I use them and they seem to be the simpliest and easy to use of all the ones I have tested. Their spread is pretty much like everyone else (at least the ones I have seen) and my orders always gets executed without any hitch.
    Looking forward to get your reply and hope the gang can get together for live conference soon.

  311. Pips February 3, 2008 at 1:55 am #

    Hiya Fx4life,

    Best time periods, yes u hav it there to use longer TF for trends 1-daily TF.. and smaller TF fro entries/exits 1-15mins TF…
    D guys at pipsnipers not only use 15mins for everything, actually like i said its where they would get their entries, and entries will determine your outcome of ur trade most of the time. We all use higher TF to see what really goin on and then concentrate on lower TF for our entries/exits. If u were there from b4, u’ll see that when Jane posts her charts, its mostly the daily, and sometimes weekly charts.

    Eur/usd is really what most ppl start to trade with..well actually the 4majors so called EUR/USD, GBP/USD, USD/CHF, USD/JPY are the 4majors that most ppl trades.
    I use to trade these pairs as well backthen, but now i find them “too boring”, coz on GBP/JPY i can get 50-100pip easy with its volatile nature on each trade, and there can be at least 3-4 times per day I can capture those moves, while with the EUR/USD u hardly see it move much.

    People like me go towards more volatile pairs like GJ,EJ, where we can cap pips easy and den call it a day. In other words i can cap over at least 200pip a day on GJ alone and bout 100pip on EJ, while EUR/USD prolly move only bout 50pips. I trade GBP/CHF as well which can cap about 100pip a day d least as well.. So to me its far more attractive to cap those pips than to sit and wait till how long b4 the 4majors really makes such moves, hence I call the other pairs “too boring” for me.

    GJ they all say is a monster and its true.. it have an avg pip range of 200-300 pip/day avg. and somtimes over 400pip range for the day if theres a breakout of big moves. So thats what attracts alot of traders.

    I-tradefx, yes their simple and easy to use, and execution is pretty good as well, but their spreads are just average to me. I get 0-1 pip spread on alot of pairs on other ecn brokers platforms, and especially I specialize in only the high volatile pairs like GJ, itradefx spreads suck sorry. coz in a month, u’ll be PAYING UR BROKER over 200pips or more depends how often u trade in spreads alone!!… so y give dem so much of our pips when u can pocket most of it in ur account if the spread is much smaller.

    Coz remember the tighter the spread is the “easier” it takes for your trade position to be in the “profit zone” eg, if u broker spread on GBP/JPY is 8pip, it will need ur trade to move 8pips b4 breakeven, then another pip to bring u to +1pip profit in that trade. Compare that if u got a 1-3 pip spread on the same pair! My price action will only need to move that smaller amount for me to be in the “profit zone”. REMEMBER THE SAME APPLIES TO LOSSES AS WELL… the larger your spread is the more losses in pips! Worse if u start increasing your contract Lot sizes!

    So i think kinn did give an example b4 as well, if u have 5pip spread on GBP/USD, and u trade 5 times a day, thats (5pip spread x 5 trades/day = 25pips spread) given to ur broker, and in 20 trading days fo a month u give ur broker 500 freakin pips of spread money!!!)

  312. HD February 3, 2008 at 8:01 pm #

    Thanks for the feedback Pips. The platform/broker choice is spinning my head though. I have tested so many already but it seems I still need to keep testing. Anyways better safe than sorry. I plan to go live with maybe 4-5K though. I can deal with losing that if things goes wrong and I guess it should be enough to put in some good trades.

  313. FX4life February 4, 2008 at 12:01 am #

    Pips,
    Thanks a million for your answers bro. What broker platform do you recommend? I just realise that Itradefx has a 10 pip spread on the GJ. That’s was too much for me.

  314. MoneyChimp February 4, 2008 at 10:01 am #

    What do you guys think about OANDA’s platform? There are no minimum to trade!

  315. Chris February 6, 2008 at 3:59 pm #

    MoneyChimp,

    OANDA platform is decent from what I understand but since they are a market maker(non ECN), you will still have to deal with them manipulating the spreads whenever they see fit. I personally have been trying out the mbtrading fx platform and I’m in the process of opening an account with them. This is the ecn broker that Jason from pipsnipers recommended and their spread on GJ is usally 2-3 pips. I also like Interactive Brokers as an ECN broker been they have a much higher min. balance and their platform is a little complicated..You just have to play around until you when a broker that works well with you trading style..lata

    So how is pipsnipers working out for you folks?? Sorry I havent been around much but, making pips part-time is eating away at most of the little spare time I had left..poor me :( lol

  316. moony February 8, 2008 at 4:58 am #

    Nice to see that everyone is having fun. Thanks PIPS. I found where to reduce my lots on the MT4 platform. I have tried out MBT Trading but I it took some time getting use to their platfotm. Spreads are great but charges commission. Another thing I hate flipping back and forth between MT4 charts and their platform… so still searching for an MT4 broker that have great spreads. I am trying out North Finance (7 pip on GJ) at the moment so lets see if they are reliable, reduce requotes etc…

  317. Chris February 8, 2008 at 8:30 am #

    Hey Moony,

    I have beent trying out mbt as well and I’m getting use to it..you just have to watch the video tutorials first and then you can create you own custom layout and put everything where you want it…I think the best MT4 spread on GJ I’ve heard of is 6 PIPS with ODL or whatever their name is..However, I have no experience with this broker..switching back and forth is somewhat annoying but you gotta do what you gotta do :) having an ECN broker is very advantageous when you trade with the pipsnipers though..Its not just about the spread, you also get better order execution and pricing which are critical since these guys like to jump in and out of trades in a sometimes fast moving market…Otherwise, requotes and slippage can cost you some money with alot of these MT4..For longer term trading (hours, days, weeks etc), having an ECN broker is probably a less important in my opinion..take care

  318. FX4life February 9, 2008 at 12:41 am #

    Chris & Moony,

    I have taken pipsnipers advise and opened an account with MB Trading and just funded it today. I notice that they have a stop and limit order on my opening order and I’m not 100% sure what this means. Does it mean if I go long on a pair my stop order is the minimum amount I’m willing to buy for and the limit order is the maximum?

    NB This is not to confused with the stop and limit orders for exit.

    I am currently using Itradefx platform and even though I have been hearing a lot of negatives about them I don’t have a major problem with them. Their G/J spread is just way too big for me at 10 pips so I will trade everything else through them except of the G/J.

  319. fxkohai February 9, 2008 at 11:34 am #

    Hello FX4life,

    Re post #318 you are basically correct .. watch the webinars
    http://www.mbtrading.com/fx/Webinars.asp the ones that deal with Order types will explain it.

    Hey brother Chris !
    I know what you mean when you say you dont have much free time these days … I’ve been in the sniper room round di clock ..but its all good though :)

  320. FX4life February 9, 2008 at 1:28 pm #

    Hey fxkohai,
    Thanks for that info man…much appreciated. I have been snipping away myself and it’s been all good so far with those pipsniper guys. It’s taking a toll on my body and I am just getting used to waking up 2:15 am…I feel like a zombie.

    I think we should all think about linking up together at regular intervals and discuss the weekly happenings, should be fun.Hopefully that happens soon.

  321. HD February 10, 2008 at 11:11 pm #

    Hey Moony….which broker do you use with your MT4 and how do you find them ?

    Thanks

  322. fxkohai February 13, 2008 at 2:34 am #

    Hey Traders !

    Check out http://www.tvunetworks.com for breaking news and other financial news that can move the market.

    You can get bloomberg tv and other world news channels there for free. Yesterday morning when everyone was wondering what caused the rally on the GJ. Bloomberg had broken that news long time !

    So how is everyone liking the sniper room so far? How y’all feel about the rate they will be charging for their service?

  323. FX4life February 13, 2008 at 4:28 am #

    Hey guys,

    Thanks for that link fxkohai.

    The snipers guys are amazing. The rates are very good and I can hardly wait for next week to sign up. I’m really excited about the prospect.

    What do you guys suggest for mobile trading? I’m thinking of getting a Blackberry.

  324. FX4life February 13, 2008 at 4:35 am #

    Can someone tell me what pairs follow the DOW? I believe the USD/JPY and the GBP/JPY but I’m not sure what else.

  325. DH February 13, 2008 at 8:53 am #

    help needed (living in jamaica)
    Guys on mb trading.com, the notification form in open an account page, part1(cant),part2(not sure) and part 3(not sure) for the form w-8 series should I fill them out.

    thanks

  326. Chris February 13, 2008 at 12:55 pm #

    fxkohai,

    Whats up man?? Well I dont really have a problem with their fees, especially for whats they offer and how they trade…I actually thought they were gonna come in a little higher lol…N It doesn’t matter what kinda room dem want to call it (trading/teaching) cause I’m learn something new everyday ..and I’m making pips everyday :)

    FX4life,

    For mobile trading I’m just going hook when my cell my laptop in case of an emergency..but I generally wont be doing much mobile trading cause I’m always near a computer..maybe someone else has some other sugguestions???

    From what i understand the GJ “typically” shows a strong correlation to the DOW..buts obviously, are many expections to that rule

    DH,

    the best thing for you to do is go to their website and do a live chat with a rep…I did that several times when I was trying to fill out my application..I think you can ignore the w-8 series but just ask them to be sure..they are usually pretty helpful on the live chat..otherwise email them

  327. POSITIVE February 16, 2008 at 8:09 am #

    Hey Guys,I think the fee for Pipsnipers are really good,but will only work out well for you if you have a good spread on the p/j ,because of their way of trading. I am going to sign up for the first month and see what happens. Yesterday was great for me I made 108 pips not by getting out of the trade with Jason on the p/j, but by keeping in mind ,the head and shoulder formation that Jane gave a lesson on the previous day.
    I have been trying to learn all I can, because to trade even with these guys you have to have a certain level of trading skills,the more knowledge you have the better it is for you.
    Hey PIPS , you have been busy man !!! were you that person who told me to take profits as soon as I could yesterday on Pipsnipers in the P/J trade ?That person was very helpful and I got out just on time before it turned around.It is great to see so many people taking control of their financial future by learning the FX.

    Take care all

  328. HD February 22, 2008 at 2:33 pm #

    I wonder what happen to Pips ! Hope him plane never crash or anything ….God Bless !!!….him help out a whole heap a people who read him blogs !

  329. Pips February 22, 2008 at 6:53 pm #

    HI GUYS!!!

    I’m jus enjoying the last week of my vacation and where i’m at the wireless net i have often disconnects coz of the weather conditions. I’ll be back in JA next week tho so we’ll catch up on stuff a’ight!

    My GOD, i expect this blog to be full of discussions and stuff, but it seem so DEAD, are u guys turn all experts now and ditch here LOL… coz not much have changed in this blog since the last time I got to check. :)

    How’s everyones trading going on??? And how’s the pipsnipers room??? I got a few emails about what I think about pipsnipers pricing so here goes… For those who thinks they charge too much, take a look at acetrader.com they charge 360$ per month! and guess what, they SUCK! They dont even come close to what the guys at pipsnipers can offer to u, and ppl still subscribe to acetrader… I tried them all before in the past and as far as I see, pipsnipers seem to be the worth your while with extremely minimum drawdown on your accounts as they minimize losses alot with the way they trade. Unlike other website services like acetrader.com that have over 200-300pip drawdowns in losses in a month can really hurt your account guys, even though u might get lucky to come out in a little bit positive at the end of the month.

    Also I strongly think and believe Jason Kinn and Jane have been holding out on some trades, and I think I caught it one time where Jane admitted it that not all trades were disclosed to the free room, but WILL BE IN THE PAID ROOM… So Imagine what you’re getting there now in the FREE ROOM is not even their 100% trade calls. I’ve seen them trade b4 pipsnipers were created, and they surely make alot more than what is listed on the room right now in any given month. So u shuld be in good hands guys.

    If you wanna maximize ur winnings, yes, get a ECN broker like MBTrading, currenex, with low spreads. Every pip counts… If your broker spread on especially GJ is over 8pips, get a new broker!! MARIE aka POSITIVE I hope you’re not using the same ole broker with 10pip GJ SPREADS NOW ARE YAH!!???? Oh and congrats by the way, marie you’ve improved so much and made some nice pips on your own… CONGRATS!!! and same goes to all others as well who’ve been doing well!! Very proud of u all…

    Bredah CHRIS!! U mashup d forex market now eeeeeeh! cant hear from u!
    Anyways guys I gotta run, will chat mo when i get back to JA nex week. Enjoy your weekend and be safe! Tek care…

  330. Chris February 22, 2008 at 7:27 pm #

    Yo Pips!

    Man what a loong vacation you deh pon! must be nice :) Well all is well on my end still and I’m working hard on not missing too many of those pipsnipers pips..and I agree with you, the price is more than reasonable especially since they seem to have some expectional money/risk management skills coupled with a very high winning percentage…Watchin these guys trade every day has taught me sooo much about how great traders think…so di more Jason rambles on, is the more I learn to trade just like him…so keep rambling Jason lol :D…hmmm now if I could just get Kinn to open up too lol…
    Ohhhh as far the blog being dead i think thats all your fault man! :) Ever since you introduce everybody to that addictive room, people dont have much time to sleep much less read blog lol…right now I’m half asleep typing this and I’m soo happy its the weekend and I can sleep for more that 3 hours :)
    Hopefully in the new room they will turn back on the private messaging you we link in while in the room..otherwise maybe yahoo messenger or skype can work..ok man got to run..enjoy the rest of the vacation and remember south america doin it fi 2009 :) lol..lata

  331. Sir HD February 24, 2008 at 8:49 pm #

    Hey Pips, good to know you still deh bout … taking advantage of the pipsnipers myself, not as much as I can due to the 9-5 but I am getting into it . I am subscribed and my live account is open and funded and making pips and all….nuff respect !

  332. fxkohai February 25, 2008 at 12:08 am #

    Welcome back Brother Pips ! I know you went over for the Asian New Year celebration…next thing wi hear is how the Asian ladies nice..then wi nuh hear from you for a while.. was begining to wonder if you decided to stay longer and have an Asian wedding too :D lol. Glad to hear that you OK !

    Brother Chris ! its like you reading mi mind about the pipsniper room. I’m in the room daily and there is not much that the mods say that I am not figuring out, esp Jason, who tends to drop hints now and then like when he mentioned about the price moving at “criss-cross angles” (taken from Raghee Horner, so right now I’m also reading through her book). I like Jason’s approach to trading because it comprises many different trading concepts. Now if we could only get Kinn to open up .. maybe we should send him a bottle of Jamaican Rum fi loose him tongue :D .

    Hey Fx4Life! another thing on your question about which pairs are strongly affected by the DOW. Well any move on the DOW usually affects market sentiment on the strength of the US economy so the currencies that are affected most by DOw should be the same ones that are affected most by the US Fundys, so UJ, GU,Swiss and GJ should definately be in that list.

    Pips, I thought everyone would have recognised the value of the pipsniper service, but the reality is trading is not for everyone, some ppl actually like having the Worldwise’s and Olint’s trade for them, some ppl dont want to make the effort or are scared to try.Some just dont believe what its possible.

    For those who are serious about trading I hope you see the value of the chat room. I have been in two other chat rooms, prior to pipsnipers one of which was MTI’s, my opinion on them has already been stated here and may differ from yours but one thing I am certain of and it’s that MTI will over promise and under deliver. The snipers on the other hand dont have that luxury cause they are calling the trades in the live market and by trading with them you will learn how real traders think and your trading will improve. Besides the pips you will actually make with them can easily cover the cost for their service, so give it some serious thought.

  333. pips February 25, 2008 at 8:03 am #

    Hey Sir HD,

    Glad u makin some pips bro… keep up the good work!

    YO Fxkohai!!
    Yea man… nuff respect fi all a unnu too! Mi still deh yah, bak inna d warm JA climate. And nope no asian wedding.. LOL :)
    I’m glad u all are enjoyin the guys at pipsnipers, and I know they’ll have u all in good hands towards making good pips… Personally I’ve seen Kinn made ova 1000 single pips a month, and thats kinn alone.. so when u add up the pip calls from jason and sista jane’s calls, u’re in for a nice return. Much better than olint or cashplus or any other investment club can ever give to u on a monthly basis.

    Sometimes I’m there too in private with Chris, we’re on yahoo messenger discussing trades like last night, trying to mek him a better trader too, reach up to my level so him can teach the rest of u.

    Bredah Chris!!! Wha mi tell u!!! Dat we a see 212 pon GJ!! And we did… nice sweet 100pips from 211 where we were when we discussed it.. ok, now u can have ur bear day bro coz mi done get mi pips on that… :)

    Lataz guys tek care

  334. Chris February 26, 2008 at 8:17 pm #

    Pips!

    I guess you were right with that 212 on the GJ..hmm lucky guess i think :D lol.. Well now we are less than a week away from the launch of the paid room so I’m kinda excited to see how week 1 will go…I know those guys will want to hit the ground running and will have their pip-shooters locked and loaded :) well time for my pre london sleep/nap..I’ll catch you with you folks later

  335. FX4life February 29, 2008 at 3:18 pm #

    Guys,

    I have been trying out the Ozfx trading system with much success. Have any of you tried it? I banked over 400 pips today due to the JPY dropping all day and I’m still not finished. I am testing out this squeeze more system for intra-day trading and will let you know how that works out.

    Auslanco’s chat room failed big time today but he vows to do better next week…I lost some pips there so hopefully next week will be better.

    As for pipsnipers…what else can I say…these guys are easily the best out there. I can hardly wait for next week. I have learnt more from the MODs there than any text book I’ve ever read on FX. Hopefully in a few months time I can be as successful with my own personal trading account.

    Later Folks.

  336. Pips March 1, 2008 at 12:23 am #

    Hey fx4life,

    Yah, ozfx trading system works best with high volatile pairs that moves alot, so the more volatile yen pairs would benefit the most from this (EJ, GJ, CADJ, AJ, NJ..) It also works for other pairs as well but u have to get more confirmations on others. The EU pair has been a monster pair cappin 500pips in a week and half period from the first re-entry signal on 4hr TF on feb20 at 1.4700 and final profits at 1.5200. Crazy markets when it start moving guys. It works best on longer time frames tho from 1hr to the daily time frame, and. Its a decent medium term trade method, which normally spans across a few days to more than a week depending on how long TF u’re using.
    Those who want to learn about it can go here

    http://www.ozfx.com.au/

    Its worth learnin guys. so chk it out.

    I have alot of commitments for march and april, so u might not see me much online but I’m sure those who are on pipsnipers will take care of u and make u all good pips.

    Tek care ppl!!
    Peace.

  337. fxkohai March 1, 2008 at 12:31 am #

    Hey FX4life !

    Thanks for the info, I never heard of Ozfx … let us know how it works out. Glad to know that you see the value of pipsnipers too.
    All the best man !

  338. Pips March 1, 2008 at 12:33 am #

    dude fxkohai,

    jus sen u an chris email. plz chk

  339. POSITIVE March 1, 2008 at 9:26 am #

    PIPS and Chris , congrats !!! you guys really motivate me every time.the unselfishness of you guys blows me away.
    FXkohai, CONGRATS man !!1 never heard about the Ozfx before but got up this morning and checked it out (thanks pips for the website ) I am definitely going for this one.
    All this guys could not come at a better time in my life and you would not understand how grateful I am for all the information and cannot wait for the pipsnipers room to start
    I opened an account with mbtrading and should be up and running by next week.
    Anyone knows if MBTRADING platform ok for the ozfx system ?
    guys I am opened for any info that will be helpful, dont leave me out Pips , Chris , others my email address is geomar24@hotmail.com.I would like to link too for some trades.
    GREAT GOING GUYS , WISH YOU MORE PIPS TO COME !!!!!

  340. pips March 1, 2008 at 2:56 pm #

    heya marie,

    Hmm jus sent u an email.. and posted somthing here but dont see it..so here is it again.

    Here is another link for ozfx on forexfactory.
    forexfactory.com/showthread.php?t=63635
    add www infront coz look like this blog hav a tendency to eat my post when i use the full http address.
    they also have free email alerts when his system gives a signal when u subscribe to it.. its free so worth a chk out.

    laterz

  341. jamfx March 1, 2008 at 3:33 pm #

    Hey Pips, Chris, fxkohai, fx4life and all the others big up. I have been following this blog for some time now and I really appreciate every bit of information given. Pips every info. you post really help and motivate me alot.Thank you and I will be posting more often. Wish you all the best in your trading.

  342. pips March 1, 2008 at 4:47 pm #

    Ah yes, i remember what the heck i wrote on the post that this blog ate earlier.. :)

    Umm,first off jamfx, no problem, we’re all here to look out fo each other.

    Yes, mor on ozfx as per what was said by fx4life on previous post.
    The system is based on the daily mostly but 4hrs work. anything lower than that will produce some decent amount of noise and fakes so be careful. however still good for a bit of scalping if u’re into it.. but try not to go below 1hr on the system tho.

    As for money management is still very important so trade light IF ur account cant manage the drawdowns since it is designed for a medium term which last for a day, to days, or even week depending on how strong the trend and movement is so dont overleverage guys.
    As always, try any new system on a demo on all ur favorite pairs and see which pairs works best for u and u’re getting most comfortable with. More info are on ozfx’s website and instructions as well..along with their forexfactory webpage..so chk them out ok.

    peace!

  343. pips March 1, 2008 at 8:25 pm #

    Pip counts comparison:
    for pipsnipers free room january : 1765pips
    ozfx january: 1720pips

    pipsnipers free room february: 759pips
    ozfx february: 1865pips

    these results were took from their trade records guys, so not to say who is better than who but they surely look darn attractive when u COMBINED them huh. I have ozfx system trading on my so called mad money account as what jason would put it, and so far it has been grabbing some really nice pips… u guys can try it out on ur demo as mentioned above to see how the system works out for yah. All the info are there on the sites i mentioned so trade safe ladies and gents.

    Glad fx4life mentioned it so thumbs up bro!!!!

    Take care

  344. pips March 1, 2008 at 8:39 pm #

    Oh hey marie,

    Just remember, re ur question about is MBT ok with OZFX strategy… actually how it works is he uses ODL securities MT4 DEMO platform for the charts and signals and EXECUTES his orders on MBT as well as, I think he uses Oanda…so ur MBT trading any system is ok…
    (He sez he gets better price actions on ODL MT4 that give “better signals” on his strategy than any other MT4 broker, thats why he chose ODL for his charts)..

    So u can actually get a demo MT4 account from ODL and apply ozfx’s template to see what the system is about.

    Also Ozfx has a free subscription service where he sends out his signals via email everyday at 7pm est I think. So u can check that out as well… BUT PLZ dont jump into ur LIVE account with a new system u’re not use to, so test it thoroughly out on ur demo accounts b4 trying it live ok.

    Tek care marie!

  345. pips March 1, 2008 at 8:53 pm #

    Marie,

    I sent u an email with some Mt4 indicators, I gave these to chris and fxkohai already so jus make sure the email is not in ur junk/spam folder ok. Laterzzz.

  346. pips March 1, 2008 at 9:30 pm #

    Hey again guys,

    Yup marie, ur email at hotmail rejected my emails coz it thinks its spam. So see if u can sort that out or else i cant send u any stuff..

    Chris, fxkohai, sent u guys more stuff on email.. Not to worry, it aint no virus.. :) but u can scan dem first jus in case… LOL.

    Tried sending u the same files Marie, but failed twice coz ur hotmail account refused it. Anyways guys, chris, fxkohai, if u two have more luck in sending to marie, jus forward the stuff to marie will yah!!! Thanx

    lataz again.

  347. pips March 1, 2008 at 11:56 pm #

    Hey guys,

    Just got somthing funny from a sistren of mine… Its a thought where its possible for those people running those clubs like XYZ blah blah company that is providing u with the mere 10-20% per month is doing exactly as what this blog is doing… Dont be surprised to find their employees taking trades from pipsnipers.com and folowing the stuff goin on here to provide u wid d mere 10-20% return per month.. :)

    So just to say guys, u can do much better now trading yourself than putting money in those investment clubs.. 10-20% per month.. Pfft… what is dat?!?!? Some of us make dat % in a day! So i hope more and more of u are noticing ur own wicked gains soon. :)

    By end of year 2008, I expect for most of u to reach 150k equity!
    If u start with 3k now and using jason’s MM, u should b up ova 100k by year end.
    My sistren started with 1k now in feb 2k8, and she’s expecting ova 70k by year end from the 1k account and trading extremely conservatively.

    Ladies and Gents, its time that u take charge of your financial freedom! Lets make 2k8 a very prosperous yr shall we.. :) Best of all, you’re not doing it alone… U got a great community at pipsnipers, and we here a help each otha out too.. so nuh fret
    Cheers!

    PS. CHRIS! If u and u big account dem nuh mek ova 150k to 200k by year end mi ago umm, like how jason and kinn love put it, err. slash all u tyres dem and including u spare tyah :) and markup u rims dem :)

    Laterz guys.

  348. POSITIVE March 2, 2008 at 1:05 am #

    Hey pips . got your emails , dont understand how you got them back.
    Also got one from fxkohia, .
    Lots of info here to use up to make big bucks . LOL. Yeh Pips I will be careful with this system , will take your suggestion and do the demo first. I agree with you pips when you say it is time we take over our financial freedom, I lost so much trusting others to invest for me , even the big banks in U.S.A. !!!
    Lots of support here , really a family.

    Thanks guys.

  349. fxkohai March 2, 2008 at 1:06 am #

    Fx4Life and Pips !

    Thanks again for introducing Ozfx to us!

    Pips, yeah man I certainly expect 2008 fi be a great pip making year! I hope everyone else sees the possibilities too. and as fi the traders who run “XYZ” trading club, I suspect that too, In fact there is even one person with a chat room name that gave some hint has to their affiliation, yu notice that a few clubs have run into problems and if yu read Andre’s blog yu see that more might be failing too, makes me wonder bout the level of experience of some of the traders in some of these clubs, how much time them tek to really learn this skill? That’s why my goal is self reliance cause who better to look after my money than me :) ?
    I sent the files to marie and I think she got them .. you know with all the computer problems you been having of late I begining to wonder if you laptop come back from Asia with the “Hong Kong Flu” lol :D .

    Tek Care

  350. Sunflower March 2, 2008 at 3:56 pm #

    Hey Pips Thanks for the Ozfx link…. can someone send me the MT4 indicators please , Chris, Fxkohai, Positive, Fx4life – I was kinda stuck on VT charts but I have already down loaded meta trader from ODL sec.
    my email addr: magbrown86@gmail.com

    Thank you all.

  351. pips March 2, 2008 at 6:25 pm #

    hey sunflower
    chk u email
    sent u stuff

  352. Sunflower March 2, 2008 at 6:39 pm #

    @ Pips

    Thank You

  353. pips March 2, 2008 at 7:21 pm #

    no prob pretty sunflowah!

    I love sunflowers :)
    Have them in my garden and yard…

    let me know if u got tru wid d files ok

  354. Mr. C March 2, 2008 at 10:23 pm #

    fx4life thanx for sharing (the ozfx site), pips thanx for explaining, everyone else thanx for the questions u asking we all learning here

  355. POSITIVE March 3, 2008 at 5:57 am #

    Hey Sunflower, nice having you on board.Hi Mr C.
    Pips not sure if what I got are the mt4 indicators ,could you send them to me please ?

  356. pips March 3, 2008 at 6:12 am #

    Hiya marie,

    FXKOHAI, or chris, could anyone of u send the mt4 files and explanation to marie on how to install them plz. I’m not at my own laptop now so i dont have any of the tradin programs indicators here, so could u guys do me a favor and send marie the stuff with explanations plz…thanx.

  357. MARIE March 3, 2008 at 8:32 am #

    Thanks Pips, will post as Marie ,so not to confuse the others.first day in the paid room with pipsnipers , no trades yet but hope to trade during N.Y. today

  358. FX4life March 3, 2008 at 9:17 am #

    Pips,

    Have you tried the OzFx squeeze more system? It’s designed for shorter time frame like the 4H and it looks pretty good so far. The pip count for Ozfx is kinda misleading still because he opens 5 positions and close one each time it moves 50 pips but by any stretch of the imagination 1720 pips in a month is a heck of a lot. Also what do you think of Auslanco? I know he’s famous for his news trades but I haven’t been around long enough to know how well he does with his normal trade calls.

    For persons who have big spreads by their brokers, I strongly recommend MBT. Their spreads are low and execution fast and efficient. I sent a wire to them at 2pm on thursday and they called me by 4pm to clarify an error on the wire form. The money was in my MBT account 2 minutes after that. You can use the Meta trader charts for planning your trades as MBT chart (if you can call it that) is terrible.

    For persons interested, Ozfx now has a managed account service. He said he expects about 20-40% per month and there is no risk of him running off with your money because you will open your own account under your name and he does the trading on your behalf. As for me I prefer to do my own trades because that’s the only way I will grow as a better trader but I’m just throwing it out there for persons who may not have the time or confidence as yet.

    Pips, please don’t leave me out for any MT4 indicators or other stuff you can throw my way as I continue on this fx trading journey. My email is fx4lifeja@gmail.com As they say in Jamaica…”one hand wash the other”

    Later all.

  359. Optimistic March 3, 2008 at 10:10 am #

    Good day guys love the blog….have been a hack demo trader for sometime now and am ready to go live…Any broker recomendations with low spreads out there, other than MBT, looking to trade minis .
    Thanks

  360. Mr. C March 3, 2008 at 10:19 am #

    Optimistic, check out

    http://www.goforex.net/forex-broker-ratings.htm

    alternately you can just google “forex broker comparison”

  361. fxkohai March 3, 2008 at 6:32 pm #

    ??? OK so now I am concerned, I posted some info including links ti MT4 indicators on this blog and now I dont see it??? Oh well I’ll try agin when I get more time…

  362. Optimistic March 3, 2008 at 7:41 pm #

    Have you guys heard of http://www.deltastock.com/ they have a ECN like station called Level 2 which gives variable spreads from 1-8 pips for PJ. The lowest I saw was 2 pips. Their registration looks simpler than most and overall reviews look good in general. Still checking

  363. MARIE March 3, 2008 at 8:32 pm #

    Can someone who uses the ozfs system please tell me ,if the stot goes below the 0 for a short.Also do you use a daily chart as he instructed ?
    Pips I cannot open the files, so it would be nice if you can post them.

  364. pips March 3, 2008 at 10:19 pm #

    Hi marie,
    hmm, not sure why u cant get the files to work? did u copy them to the right folders?

    umm fxkohai or chris can u help out marie plz… i gona b a bit busy for this month and april coz i gotta oversee the opening of mi big supermarket dat i built from d pips money :)

    catch u guys lataz…
    wish u many good pips!!

    Oh optimistic, welcome to d world of pips making, and hope u getting more.
    As for the rest of u, just gwaaan make pips, keep pips, and repeat process. ;-) dont gi d pips back to d market ok.

    lataz.

  365. Sir HD March 4, 2008 at 11:18 am #

    Breda Pips just a pass through and big you up again….nuff respect for your contribution !….you almost becoming a hero…all this information can help a lot of us to financial freedom…..one day you will have to disclose your true identity so we can commission yuh statue in a half way tree.

  366. Chris March 4, 2008 at 3:34 pm #

    Hello Everyone!!

    this place is really buzzing with people making lots of pips!! :) I’m doing everything i can to make 2008 a records year for me especially since Pips is threatening to slash all my tires and even scratch up the rims dem if I dont succeed :( mi will just have to find where di new supermarket is and thief some bread fi mek up fi mi tires and rims dem lol..But seriously, hope everyone is doing good and learning all they can..I’ll definitely try to be around more since Pips sound like him going to be missing in action for a while..take care folks

  367. MARIE March 4, 2008 at 3:57 pm #

    Woooow !!!! I posted the MT4 indicator info from fxkohia and it disappeared !!!saw it there and now i’m back it gone like sammy mouth !!!you guys have been right all along about this blog.
    Hey Chris see you making some Pips yourself, good to see you .Any way anyone need the mt4 indicators I will email it to you as we cannot seem to post it on the blog.

  368. Sunflower March 4, 2008 at 4:56 pm #

    LOL @ #353…… Thanks for the MT4 info.

    Hey Positive thanks for the shoutout ..

    I have been around since the early days of wealthmax before Pips was kicked off the first forum and ended up here. I hardly post.. I am still using a demo account. was about to go live but i am will be looking at Ozfx strategy first.

  369. pips March 4, 2008 at 7:41 pm #

    Hi guys,

    Yep very very busy… but still get to help out a situation.. Thanks to breda Birdt, him posted all of pipsnipers indicators plus a template that u can use on mediafire. so here’s the link

    http://www.mediafire.com/?sharekey=51cebfd9588cfe964012e8015643d9c857e754a019ca0d0c

    I will provide more stuff when i get the time guys.. but for now chris, fxkohai, fx4life, u guys can help each otha out and help out d ones who dont know how to setup d mt4 stuff..

    marie, hope u got ur problem sorted out if not jus buzz chris or fxkohai..

    gotta go..

  370. pips March 4, 2008 at 8:20 pm #

    oh hey chris fxkohai,

    some files on the previous post from breda birdt u prolly dont have either, so mek sure u guys chk out d link and grab whaeva u dont have zeeeen!

    lataz… geez.. doin a zillion tings one time now..

  371. fxkohai March 4, 2008 at 8:44 pm #

    Guys, The Blog is Acting up, it has been deleting my post !!
    Did anyone see post#361 at all??? :( Anyway see the info below, plz put the http : // www on it to complete the weblinks
    ————————–Post#361——————————-
    For MT4 you can save the custom template files (.tpl) and custom indicators (.mq4, ex4) files in the following directories:
    Templates: [Your MT4 Home Directory]\templates
    Indicators: [Your MT4 Home Directory]\experts\indicators
    Ozfx website and forexfactory has the Ozfx templates. you can also get a truck load a MT4 indicators here
    forex-tsd.com
    forexmt4.com/mt_yahoo/
    the Zup indicator is what Jason uses for the harmonics (bat, gartley, etc…) you need to allow dll imports for this one in MT4 under Tools>Options. And to use it Then in MT4 under Insert>Indicators>Custom you’ll find these new indicators
    Read about harmonics here
    harmonictrader.com/price_patterns.htm
    ———————————————————-

    Please let me know if you can see this post? Thanks

  372. jamfx March 4, 2008 at 11:39 pm #

    Hey fxkohai, Thanks for those info. its really appreciated.

  373. MARIE March 5, 2008 at 5:55 am #

    Fxkohai, the post is now back at 366 !!! what craziness !!!!it allowed the websites too.guess they have to be checked out or something.lucky thing this happened to more than one of us or we would be thinking that person half gone !!! LOL.
    Checking out the squeeze more system on Ozfx ,made few pips and came out of the trade, man when I woke up this morning the sell trade fell like crazy !!!GBP/USD. So far I like what I see , but I am going in with caution each time while testing . My demo account has been doing well.
    yeh great info Pips and Fxkohai, thanks guys.

  374. Mr. C March 5, 2008 at 9:24 am #

    Fxkohai i have to second jamfx post, really appreciated. Nuff things to digest, good stuff. Marie tried sending u a email yesterday but it came back but it sound like all is well.
    Peeps how is the pipsnipers room going?
    anyone knows the settings for the AC and AO indicators used by Oz? or put another way using the VT charts should the settings remain as the default or should they be tweaked? if tweaked can anyone give the settings? much appreciated

  375. Chris March 5, 2008 at 1:28 pm #

    Hey Marie!

    Thanks for the offer on the MT4 indicator but I was able to grab it from the download site so no worries (as Jason would say) :)
    And yes I have been making some pips and missing some sleep but it will all pay off it the end..I haven’t even gotten a chance to look into this Oz stuff but hopefully this weekend I’ll be able to read up on it..

    Mr. C

    Whenever I get around to checking out the Oz stuff I’ll see if I can answer your questions..someone who has already been looking at it may already have an answer for you…

    take care all!

    Chris,

  376. Optimistic March 5, 2008 at 2:46 pm #

    Thanks Pips…. and all the other guys on the blog. The revolution has begun!

  377. jamfx March 5, 2008 at 11:57 pm #

    Hey Mr. C, for the oz squeeze-more
    Setup:
    Open any 4 Hr Candle Stick chart.
    Setup Bill Williams Awesome Oscillator (AO) with Default values
    Setup Bill Williams Accelerator Oscillator (AC) with Default values.
    Setup Stochastic on top of AC with setting 5,3,4. See attached template file.
    You may get all the other info.the strategy here: http://www.ozfx.com.au/squeeze-more/

  378. MARIE March 6, 2008 at 6:04 am #

    NP. Chris.Hey Mr.C dont know what’s been happening lately with the email, Pips said the same thIng about emails coming back.
    I am trying myself to sort out the set up. I have my system with a four hour AO but not sure what it means when it says ‘WITH DAFAULT values”I’m guessing it might be a feature not on all charting system .Hope fx4life or someone else who fully understand this will clear this up a little more,I am curious too on the correct way for the set up.
    Thks Jamfx for the link.

  379. Mr. C March 6, 2008 at 8:34 am #

    Thanx Chris and Jamfx. Marie default means settings speaks to the setting there when you select the indicator. so you use it as is without adjusting it. so for example when you open the stot indicator (using the squeez more sys) u may see x,y,z numbers as the default setting there, but u then change it to 5,3,4. now on the odl charting that Oz uses you just apply the indicator, you dont have to worry about the settings howvever using vt trader they give you the option of adjusting the settings.
    hope this helps

  380. MARIE March 6, 2008 at 10:53 am #

    Oh I see , you only set it for the stockastics !!! that was helphul , have that now. thanks Mr. C .
    Just opened my account with MBtrading , so have to spend time going through the different features. they will be having the MM class this Sunday at 8 p.m. and should be having the class on mbtrading platform at 7 p.m. same day.
    MBtrading is so much better that the stupid broker I had, like night and day.

  381. MARIE March 6, 2008 at 11:03 am #

    sorry the classes i mentioned in the previous post is in the pipsnipers room.
    7pm mbtrading platform
    8pm Money MANAGEMENT

  382. Mr. C March 7, 2008 at 8:40 am #

    Jamfx & Chris, i checked out oz call today on the usd/cad (short) on the vt trader chart. i noticed that the last AC bar was green with the standard settings while on the odl chart it was red. i experimented with the AC settings and changed the price from median to close and viola, the red bar came on vt chart as well. note that when u change the default on VT it comes as a new indicator in the indicator list. i also notice that for the smaller body candles one chart indicate a bullish day while another a bearish day for the same candle. can anyone explain this, thanx in advance.
    Marie i am gonna give mb a look this weekend

  383. jamfx March 8, 2008 at 1:16 am #

    Mr.C I have no experience with VT charting and indicators, presently I am using MT4 (North Finance). I really dont know to explain that one.

  384. FX4life March 8, 2008 at 7:19 am #

    Mr C.

    Oz uses ODL for his charts because they close their daily candle at 7:00pm EST unlike most brokers who close at 5:00pm. He said that timeframe seem to work best with his system so that might account for the differences on your charts. Check that out.

  385. Mr. C March 10, 2008 at 10:42 am #

    Thanx for the info Jamfx and FX4life much appreciated. Hey peeps how is the pipsnipers room going for you all? hope you are all raking in the pips

  386. Supra March 10, 2008 at 4:12 pm #

    Mr. C.,

    I am a member of Pipsnipers and switched to MB Trading as my Broker since most of the MODS use them. Today, was not a good day for Pipsnipers. All calls were made by Kinn except the GBPCHF trade called by Jane. There were about 10 trades in total called and the results in the end were -17 pips, although the MODS were down as much as around -47 at one point. This was not a problem for me because losses are part of the territory, but what I and others are starting to have a heartburn with are the entries and exits called. I know Kinn says he uses two brokers being Dukascopy and Currenex. Almost every call he made was not even near my MBT quotes except one. People were starting to talk about this a little bit in the room today, although I expect more people to voice their opinions as time moves on. Someone in the room even asked Kinn, which broker he was following on that day and he never answered. Then when Jane told us she was going to make a call I thought to myself well at least I can get her entry but it was 5 pips off!! Some people in the room freaked out and said that number never showed up on their MBT quotes, which was true. So, my concern at this point is the legitamacy of these entries. I want to believe they are truly getting these entries, but they all seem to ignore our questions into the matter. Well, time will tell I guess. I hope everything works it’s way out because I think they really have something good going on here and I really like the room. I just want to be able to get at least 50% of the time similar entries and exits from what they are calling in the room.

  387. Supra March 11, 2008 at 3:03 am #

    I just found out today that Kinn was using Currenex for his fills. I wish I could get a Currenex platform up to compare spreads to MBT.

  388. Mr. C March 11, 2008 at 8:55 am #

    Thanx for the update Supra, but as you rightly say losses are part of the territory. infact i think today all of Oz trades went against him so thats part of the deal. If every you hear of a holy grail system or a trader that never lose then people run. Currenex, i think the minimum on that platform was US$50K. I know you all will keep the faith so hang in there.

  389. Supra March 11, 2008 at 11:57 am #

    Now this is more like it :) Jason and Kinn were running the London session while Jason ran the early part of the New York session. There were about 8 trades taken for a total 0f +114 pips made by the MODs. I was able to make more because I waited for the for better entries and exits, since I could not get their initial entries.

  390. MARIE March 11, 2008 at 5:23 pm #

    Supra happy you had a better day . From last night to midday was awesome, made over 100 pips myself. I even prefer to trade with Kinn, but they are all good. Yes Mr. C, Oz’s trades all went off the radar today. I was about to try with my live account .but when I compared them to pipsnipers comments they were totally opposite, so I decided not to take the chance and thank God I stayed out. !!! Anyway talk soon, later.

    Pips we miss you man also Chris.

  391. Supra March 12, 2008 at 7:30 am #

    Congrats Marie :)

    Well everyone, Pipsnipers is working on alert system to send to cell phones, so everyone does not always have to be in front of the computers, which is being BETA tested to a few of us memebers at the moment. However, once they implement it completely there will be an additional fee. At first, I did not mind this, but today Kinn told us that there are many times that he will need to get in a trade, so fast that there will not be time to send alerts. I can understand this, however I for one would not want to pay for a service that I do not receive all the sms’s for, so I will just do without this additional service when they start to collect fees.

    One additional thing, Pipsnipers has a (persistant) chat window that only they can type in, so people coming into the room can see if any trades are going on at that time. This sounded real good at first until Kinn today that there will be times that HE will not be able to write in the box the current signals, unless there is another MOD to write it in for him because he is concentrating on the trades. Now, I see a lot of possible conflicts with Jason and people just entering the room because he is using the persistant chat to prevent people from asking, “are we in a trade”, But now with what Kinn has stated I am sure people will start asking, so they can make sure they are not missing anything. If Jason is on board at that time then he may have a fit (get upset) as I have seen a number of times already with a few other things that have happened in the chat room. Jason, I feel is an excellent trader, however he gets too emotional by the things that he sees written in the chat room. This has cost us to miss some good setups because he is focusing more on what is in the chat than on the charts. Hopefully, he will start to listen to the majority of us when we say ignore the chat when you are looking for good trades. I am sure everything will eventually work it’s way out once the MODS get a few more weeks of evaluating their own service.

  392. fxkohai March 12, 2008 at 6:48 pm #

    Hey Guys!
    Good to see the dialogue continuing on the blog. Been really busy of late had a few things to take of before I go off on vacation. For those who expressed thanks for the indicator links you are most welcome, we all working towards the same goal and everyone has something that they know and can contribute to the process .. just like how Fx4 Life bus us pon the Ozfx system (much respect to you Sir, even though I haven’t yet found the time to properly review it) !
    Hello Supra ! welcome to the forum and please continue to contribute, regarding your earlier posts about the legitimacy of the pipsniper mods trade call etc., well there have been a very few times when I have not gotten better entries/exits than what they call. Just remember that the traders are all over the world using different trading platforms, networking systems etc. so no doubt there will be some differences in the data transmission. I hardly read the chat when I am trading cause I think some of these guys aren’t serious about trading and tend to be a bit distracting, so I take what they say with ‘a grain a salt’, and yeah I agree that Jason tends to overreact to some of the comments made, I guess in time all this will improve.

    Mr Pips!
    The entrepreneur congratulations on opening your Big Supermarket!! The first of many in your franchise I hope ? When you get a chance let us know what you call it man and do you have special discount prices for FX traders :) That’s an example we all can follow, use our success to stimulate economic growth !
    Yeah Optimistic! the FX revolution has begun it’s just a pity that there are still small minded leaders in Jamaica who don’t see the big picture, I still remember all the articles in the JA papers bout how FX trading is fraud. Do you know that a certain trader proposed a plan to the Ja government that could have assisted the economy but the ‘big brain geniuses’ ignore it? And if you think that is the big shocker, did you know that another country has taken up a similar offer and will be benefitting from their lack of insight? Anyway enough controversy from me for now, I’m off for a little while.

    Take Care

  393. Chris March 12, 2008 at 7:47 pm #

    Hey Guys!!

    How are things?? Well I decided I would drop in and say hello before my pre-london nap :) trading with the snipers has been going well and I’m learning more with every trade they take!

    As far as their entries I also have trouble getting them sometime but I dont believe they are making them up..it would make no sense for them to risk the integrity of the business just for a few extra pips..a lot of the entries happen near to top of trends where the price can be extra volitile so the price change very rapidly..I use wait to get their price and 80% I would get a better price or the same…but the other 20% of trade got away and I was left with no pips in mi pocket :( so now I just get in when they do and get out when they do… the most important thing is you gotta be 1-click away ur order being submitted! having to make an extra 2-3 clicks may cost you 2-3 pips :)

    Hey Marie I’m still around my dear, just busy like a bee

    ok I have a lot more to say but I’ll come back during london and finish mi catching up! take care

    TO BE CONTINUED…

    Chris

  394. Supra March 13, 2008 at 3:28 pm #

    Ouch! PipSnipers took a -306 pip loss today :(

  395. MARIE March 13, 2008 at 7:40 pm #

    Man that is one learning experience.Especially for those who did not stick to MM rules. Pipsnipers had the worst day ever !!!! I am nervous to trade this week. One thing consoles me though is the fact that no one robbed me of this money(like what happened to me in other investments )but the fact that I lost today and I will get it back .

  396. FX4life March 14, 2008 at 11:59 am #

    It was Black Thursday for pipsnipers. They took another loss today but nothing near to yesterday. Luckily for me I attended the MM class and followed their rules to some extend or it could have been a lot worst. I’m not worried still because I know they will make up for it next week. The entire forex market is going crazy now and I know a lot of other traders losing a good portion of their account so we shouldn’t feel bad. Eg the GY moved 100 pips up in less than 2 mins and down 200 pips the next 2 mins before moving back up 100 pips in another minute. Crazy stuff!!! That movement took out a lot of stop losses for sure. Just take it as a learning experience and move forward with good money management and we’ll all be fine.

  397. Chris March 14, 2008 at 3:52 pm #

    Oh yes those losses were definitely not too sweet but like you said MM will keep you in the game and you should definitely make those Pips both back by the end of the month..At least Jason admitted his mistakes so i doubt he will be breaking any more of his rules in the future..and to think we were up over 20+ pips in both trades :( …the other thing i find interesting though is the big the difference between the types of trades that Jason and Kinn calls..though both good traders, Kinn is like a cowboy with 2 shiny 6-shooters and Jason is like a rancher with his handy shotgun lol..I found it soo surprising that Jason sometimes opts out of some of the trades Kinns calls that are against the trend…you would think that if they are both there together they would only call a trade that they both agree on ..right?..but thats definitely doesn’t seem to be the chase since Jason said he didnt take any of Kinn’s calls during today’s London session..seems like each mod is doing there own thing as least some of the time :) thats is why we must continue to learn and evolve as traders cause you and only you are ultimately responsible for when and how you take trades you take in your account..Have a great weekend folks are I’m looking forward to getting my pips back next week! :)

    Chris,

  398. MARIE March 15, 2008 at 7:42 pm #

    Just wanted to see if anyone else got a disturbing email from Kinn (pipsnipers)

  399. DH March 15, 2008 at 8:42 pm #

    yes I got the email too

  400. Pips March 16, 2008 at 12:59 am #

    WHAT ON EARTH IS GOIN ON HERE AFTA MI LEF FI BOUT 2 WEEKS OR SO MANAGIN MI NEW SUPERMARKET??!!!?!?!?!

    Guys, jus got the chance to do little catching up and chk emails and see dutty news bout kinn get fyah from pipsnipers and worse dem mek ova 300pips loss in one day and end march in negative! plus commisions dats ova -160pips i believe some of u might suffered for march.

    Whats goin on??????
    Hope u guys didnt suffer too much loss tho. hope u stick to good MM right??no blown accounts rite??? Geez.. I was planning to get a good night sleep tonight coz havent been gettin much sleep for about 2 weeks now and after reading these emails etc I am fully awake again and cant sleep!

    Just lookin back at my auto system, it ended friday with net+230pips on GJ. Lost 80pips on the whiplash long entry it generated on 204.92 and shorted it at 204.18 trail stopped out at 201.08 so it made bak the whiplash loss long trade and ended the day positive. I was very surprise why nobody called a short when it fell tru 203???? lookin at the price it went down to 199.90!!!! Did those guys fall out when all this happen why this trade wasnt taken??? Damn, i hope some of u saw this and took the short trade coz 203 was a crucial lvl and it broke cleanly.

    bredah chris, bredah fxkohai when i get som mor time I will pass on some mor info to u so u maybe can educate the rest here.
    also for those followin ozfx system it made nice moves supporting the short trades on GJ and EJ as the time has come on the daily charts. its a pretty nice long term system to follow, but i will share some of my intraday system to chris and fxkohai that will compliment ozfx’s system and then they can pass on the knowledge to the rest of u coz mi still very busy wid d supermarket. Yep, in case u wondering why d backside mi a setup supermarket and not just stick to trading…well, I setting up this supermarket so that my brother and sister dem can run it and guarantee mom and all a dem ok for the rest a dem life. Oh by the way when all a u start mekin nuff money from forex, u can help some children in need at worldvision.org, u get to interact with those children that u sponsoring and it will feel good that u made so many differences in others lives when they need it.

    Geeez really disappointed on what goin on at pipsnipers now.. A WHICH ONE A U GI DEM SOM HIGH GRADE WEED FI SMOKE!!!???!!?!? Lawd… anyways i hav to get som sleep..lataz ppl. will try to link up when i can.. and when i get d chance will send on info to chris and fxkohai coz dem guys here hav som decent experience initially and mi trust will pass on d knowledge.

    Peace

  401. Kevin March 16, 2008 at 3:25 am #

    Hello all,

    I am a noobie in forex trading, but have gone live with pipsnipers. I found this blog by googling Jason Deal trying to find out more info about his and Kinn’s partnership dissolving over at pipsnipers.

    I am a member there and I have been following their trading style very closely for the past 5 weeks. Over this time I have noticed some very distict differences in Kinn and Jason’s trading styles. They most often trade the Pound/Yen pair. Kinn likes trading London and sometimes Asia while Jason prefers New York.

    During Kinns’s trading sessions I have noticed him getting in a lot of trades at the tops and bottoms of moves that are in progress. Jason on the otherhand almost always waits for a retracement especially when trading the Pound/Yen. I have heard Jason say over and over that the Pound/Yen is the “king of the 50% retracement”. Kinn and Jason seem to have the best trading sessions when they trade together. Overall I would say that Kinn is a little more reckless with his trades and he makes a lot of trades, and Jason is more cautious taking less trades and waiting for the pull back. They both bank the pips. Everyone knows how crazy the market has been lately and in my mind that should tell us to be even more cautious in our trading. My losses with pipsnipers so far have been very minimal compared to the profits and when we do have a loss it is usually closed within a 1-30 pip loss.

    Before this last 300+ pip loss the biggest draw down I have been in with pipsnipers was 54 pips and when it came back into possitive pips we got out. That is another one of Jason’s rules. ***When experiencing a big draw down in a trade and the trade comes back into possitive you get out @ break even or 1 or 2 pips possitive.*** I had to leave for work last week when the snipers broke this rule and took the massive loss. Because I had to leave I only entered the first trade Kinn had called and set my stop loss @ 45 pips on the Euro/Yen, and when I got back home I had never been happier to see a 48 pip loss.

    I like both Jason and Kinn as people and I think they are both excellent traders. Jason seems to hold himself in high integrity and gets quite upset(diva) when anyone questions his intensions/integrity. Kinn on the other hand is more easy going and has a little bit of a loose tounge…Kinda funny Jason set up rules for the room and said no one is allowed to cuss except Kinn…lol

    So this is what concerns me… Based on the e-mail I got from Kinn I have to question Jason’s integrity a little bit. They are business partners and friends. I owned a business with a friend once and I never could fathom putting my personal/business issues whatever they may be over my friendship. Kinn said Jason basically locked him out of pipsnipers without even discussing it with him. I don’t know what their differences are but this does not speak well for Jason’s integrity IMO, but I will keep an optomistic mind until I hear both sides. I also plan on continuing my membership with them for the time being (glad I did not sign up for the whole year). Jason said that him and Kinn would be dedicated to pipsnipers for at least a year, but now only 2 weeks live and the partnership is gone. I know that Kinn’s blog on Forex Factory was a great asset to Jason and Kinn in getting people to join pipsnipers. I really hope Kinn was not used, and I really hope this is not just a greed thing. 130,000$+ per month is a lot of money for a startup business and we all know that money is a powerful force. I am usually a pretty good judge of charactor and Jason does seem to have this high integrity he holds himself to. For now I’l wait to make any conclusions until I hear from Jason this Sunday night during London and from Kinn when he e-mails again.

    Optimistic…

  402. MARIE March 16, 2008 at 7:32 am #

    Hey Pips please send those info soon, will shoot you an email.
    I am really not surprised at all that this is happening, even though Jason has integrity and owns the business he does have an anger problem and that doesnt go well in partnerships or interacting with people at all.hope this can be sorted out when Jason calms down. One day we were in a trade and someone asked a question in the room, Jason was not heard for a while,when he came back on, he said that he had to walk around the house to cool off !!!! Many see this room as an opportunity to start over with their finances and if both these men work together and be honest then we would have a room to be envied.
    After all the promises before the paid room,it was really disappointing to see all the trades passing by without most of us in. I was up for every session since March and I do understand that it might have been a harder trading period , but there were still pips to be made from what I saw even in the room.This just mean that everyone has to empower themselves with knowledge as Chris and Pips always say.My weekend was all about trading systems and indicators.Hope this will all work out for the best .

  403. fxkohai March 17, 2008 at 4:24 pm #

    Hey Guys,

    I am on vacation for the next 2wks, taking the family on a looong road trip across North America. Will have intermitent internet access whenever I stop over at friends n family. Could someone who is up to date please inform me what Jason discussed on Sunday (I was in the middle of a 20hr drive at the time) and what kinda vibe yu picking up on the future of the pipsnipers room? Thanks.

    Kevin yur post is much appreciated and IMO I think you are correct on most of what yu said. I really do think that J wants us to grow as traders but Kinn not willing to share and would rather we hang on to his coattails on our way to success, about the friend thing, remember they have only been friends for a short time and they just met through ff, who knows maybe there was some using involved. People I think we should think of pipsnipers room as a tool while we continue to learn over own style of trading, not as a free ride. Try to learn all you can while taking the calls they make and please analyse each trade call for yourself and if required do what yu need to do. On thursday when J was in was holding that GJ trade and refused to close it even after it was back at break even and he himself said it might have been a good idea to close, I closed the trade, plus I had gotten in at the top of the retracement so my trades on Thurday were all closed with a small profit. On Friday Kinn did a similar thing holding a trade and J was suggesting he exit ..eventually he exited with loss I had a small loss that day too, but todate my account is still in very good growth. I do hope nobody here was overleveraged, solidsnake metioned that a friend of his in the room grew his account from $50G to $93G by trading 25% of his account with every pipsniper trade call but was wiped out on Thursday plz note that if yu do that the growth might be fast but you will lose your account even faster!! I’ve been there, so plz dont do that!
    Apart from proper MM, trading pyschology is very important I think the stress of wanting to be a success in the Pipsniper room has caused J and Kinn to make or hold a few bad trades, More so J as he gets very upset when ppl say negative things about the room so I think its affecting their trading, but I think he will work through this criss if he really is the good trader that I think he is. People if yu want to mek it in this business yu need to get your head right, The books by Mark Douglas esp “Disciplined trader” really helped me to work some of these issues out.

    Oh PIPs! I endorse 100% what you said about giving back, I have been working on that too :) . Oh and when you ready, please sen on more of di the knowledge suh wi can gwaan grow.

    Again somebody plz let me know whats the lastest with the pipsnipers ! thx
    Later Guys

  404. pips March 17, 2008 at 7:38 pm #

    Hi marie, twice tried sendin u an email, but kept gettin mailer daemon error that the mail cant be delivered to ur address. Is it too much to ask to create a quick yahoo mail account? Coz Chris and fxkohai are on it too and we can converse via yahoo messenger chat. So let me know ok, coz ur hotmail is giving me a warm time

    Gotta go guys. peace

    Pips

  405. MARIE March 18, 2008 at 3:39 am #

    hey Pips,have one but dont really use it. address is geomar24@yahoo .com.

  406. melanie March 18, 2008 at 11:37 am #

    Dictator Jason is firing booting and banning people left right and center, starting from Kinn who wasnt given any notice1 Hows that for business partners! The man said he couldnt log into the room he then called Jason and was thentold of the the unilateral decision! How unprofessional of him!
    He booted 7persons from the room this am, and said some more on the list, I think he is spending more time reading the chat screen which he said wont close (wonder why?) than the charts. He also said he will NOT open the private chat which he said he could do! I dont understand why a professional trader that has over 300people supposedly following his trades want that kind of distraction, esp since now hes the only trader! Jane,clint nor the newest mod Jen has made any trades recently! ( OH hell I forgot jane made one last week.sry)
    He may be a good trader but he sucks at customer service and being professional, he was even saying that he is reading all that is posted on Forex factory and on skype about him and will ban all of those persons once he finds out who they are! How immatureof him ! He is boasting of this stuff, his “best computer money can buy” wifes diamonds etc and look at the tracker since lastweek esp since Kinn gone. 30pips today yesterday about 16and forget about last week thurs and fri! over 300 in de hole!
    and nobody can say a word to him bout nutten! Nobady can say anything in the room , I think they are just waiting until the end of the month though cause if they say anything now dem outa dere an dem money bun up! and him say NO REFUNDS!!
    He cant manage the responsibility of the room , he might have been a good car salesman and trader for himself but this new venture as much as it pays well is prooving too much for him! De poor man need some rest , can u imagine being up for so many hrs for so many days in a row dats y his trading is affected is like driving drunk! oTHER PEOPLE In this same choppy unpredictable market are gettting more than 30 pips for the day! even in the room ppl are gettting 80pips on the same trade that he is getting 6pips. Kinn says he will be setting up his own thing soon cant wait to see what that is all about! Jason also says Kinn wont send back any of the money! OH Lawd! Lata guys just my 2cents

  407. pips March 18, 2008 at 12:31 pm #

    Hey marie,
    ur yahoo account has been disabled or discontinued. and ur hotmail not accepting any of my mails with attachments. so until u sort out somthing i cant send u anything.

  408. MARIE March 18, 2008 at 4:53 pm #

    hey Pips ,my other email address is geomar24@gmail.com.cant imagine what could be happening cause i sent something to the yahoo and it was ok, any way geomar24@gmail.com dont leave me out man LOL.by the way got two emails did you send another one ?

  409. pips March 18, 2008 at 8:33 pm #

    Hey marie… dont ask mi wha happen coz if chris deh yah, him sure would seh dat mi computa system possessed! or it just plain dont like u email addresses… :-p maybe it have somting against u geomar24 name…change it to hotlady@yahoo.com or somting like dat den maybe mi email will luv u email address afterwards….

    anyways, i still nuh lock up supamarket yet… so will talk to u guys lata..
    the system i sent to u guys works best on 30mins to 1 hour on GJ and many other pairs. even the dowjones too… made lots of money buying the dow and GJ, EJ today… hope u guys made some pips too…

    I have to run again… will keep in touch.

    lataz.
    marie i sent u mail again plz confirm what u received plz. thanx

  410. jamfx March 18, 2008 at 8:52 pm #

    Hey Mr. Pips, Chris, fxkohai & Marie I would also appreciate if you could send me some tips and info. to help educate me so I can improve on my trading. Thank you in advance..

  411. jamfx March 18, 2008 at 10:07 pm #

    Hey My Email address is jamfx30@yahoo.com thanx u

  412. MARIE March 19, 2008 at 7:55 am #

    LOL, Pips there can not be a dull moment with you around eh ?aright going to change the email address so you email will luv my email address.,but mind after that happen it dont work fo you tho.lol.
    anyway over at pipsnipers too hot right now so just came to cool off a bit.lots of attacking and disrespect going on,the chat room has been muted from early morning .For those interested Kinn has launched his room and is sending out emails for clients,he is giving the month of APRIL for free.
    Jamfx will get back to you.

  413. jamfx March 19, 2008 at 10:45 am #

    Hey Marie, whats the link to Kinn trading romm?

  414. jamfx March 19, 2008 at 12:01 pm #

    fxkohai re-post 403, I found this recording

    http://www.mediafire.com/?nftujw921zm

  415. Chris March 19, 2008 at 12:20 pm #

    Guys Guys Guys (& Girls :) )

    How are things? Well I got the email from pips so if someone needs me to forward it to them let me know..All of pips’ computers are possessed by evil spirits so he may or may not be able to send out any emails depending on the mood of the spirits :)

    Well as far as the state of pipsnipers I think things looks pretty unstable at the moment..everything thats going on behind the scene is starting the affect the quality of the trading and how they are being management IMO..hopefully this is just temporary while Jason and company gets there mojo back but please continue to learn on your own like fxkohai mentioned and use proper MM.. find a trading style you are comfortable with and stick with it…I have to get back to works folks..take care

    Chris,

  416. Chris March 19, 2008 at 12:26 pm #

    jamfx,

    check your email

  417. jamfx March 19, 2008 at 12:46 pm #

    Hey Chris, thank you

  418. Optimistic March 19, 2008 at 1:26 pm #

    Greetings to all….man its been rough since I’ve gone live…I have been using a combination of indicators to guide me including wave patterns, trndlines and ma’s…however over the weekend I saw something about price action and pivot points and found it to be very instructive on how the market moves.
    I incorporated those into my system and though my account is up 8% in my four days of trading, it was down 20% at one point as well. Your emotions have to be kept in check when trading…whenever I took a bad loss I jumped right back in…aaand took another loss. I literally turned my computer off the last couple times just to avoid trading until my ego accepted the fact that I will be wrong sometimes. I am still not very discplined with my sort of ad hoc methodolgies, but I’m trying. Keep the suggestions and info coming though..it’s very helpful.

  419. Optimistic March 19, 2008 at 1:33 pm #

    BTW Chris, could you send the email to jim.laden@yahoo.com. Thnx

  420. Sunflower March 19, 2008 at 3:20 pm #

    Hey Chris,

    Please send me the email from Pips. email addr magbrown86@gmail.com

  421. Sunflower March 19, 2008 at 3:21 pm #

    Thank you

  422. Sunflower March 19, 2008 at 3:23 pm #

    Not seeing my post. Chris please forward the email from Pips to magbrown86@gmail.com Thank you

  423. MARIE March 20, 2008 at 3:17 am #

    the email add. for kinn is hakunamatatafx@tpg.com.au .

  424. HD March 20, 2008 at 8:19 am #

    Chris, can you please also forward the email to me hd_731@yahoo.com …. thanks much.

    FYI…the US/CA au/us and gb/us have been making some good moves recently…hopefully there is still more pips to be squeezed out of them.
    I think the e/u might be making some big moves down soon….just keeping watching.

    Thanks very much guys …. good luck trading.

  425. Chris March 20, 2008 at 11:45 am #

    Here are the files from pips:

    http://www.mediafire.com/?p5oyyxh4xxu

  426. Optimistic March 21, 2008 at 9:37 am #

    Thanx Pips, Chris…..much appreciated

  427. Al March 25, 2008 at 9:30 pm #

    A brief sign off on what was promised to be a great trading room with calls posted by experienced traders. I have just finished a one month observation of this room and all I can say is do not get involved. At $325/month you are better off paying an experienced mentor or tutor to sit with you and show you how trading is done. The one and only owner of Pipsnipers.com, Jason Deal, is an arrogant selfserving big head who does a lot of talk with very little action in terms of trades and giving people the results that they have paid for. In fact the first month of going online and charging people the $325/month thay have had huge losses with very small winners. I got the sense that it was all very experimental with no testing and problems from day one, which I was paying for. Jason’s treatment of people who question him within the room is down right disrespectful and shameful. Personally I have been in business over twenty five years, the last three to four years in forex. I have never come across such an unprofessional bunch and my hope is that before anybody throws their hard earned money at Pipsnipers, they consider very very carefully their decision.

    In closing I want to address you “Jason Deal”, the authorities have been notified and one way or the other this will all come back to you.

    A

  428. HD March 26, 2008 at 1:21 pm #

    Thanks Pips and Chris for the docs !!!…..respect as usuall….it will take me a while to get up to speed with them but I will…still learning and earning my pips slowly but surely….thans again to Pips, Chris and most of the pioneers on this blog.

  429. HD March 27, 2008 at 8:25 pm #

    Man I am getting a hang of this forex thing and I am starting to get hooked now…can’t do without looking on the charts for too long….making my pips slowly but surely….good money management and discipline is key I am learning !

  430. Kevin March 28, 2008 at 8:18 am #

    2 more mods are leaving pipsnipers for unknown reasons. The two ladies Jane/Kate and Jen have left pipsnipers. Jason is the only mod left that is making any calls. Clint is still there too. Hosea the newest potential mod is extremely impressive, but he says he is not sure if he will sign on through till April. Personally I kinda wonder if he will be there on Monday. I am not signing up again even if I get May free with April. I have gotten some great teachings from the mods and I have learned alot over the past 2 months so I have no hard feeling towards Jason like some people do. I do think with $325/mo room fee there should be a little more freedom in the room. Anyways with that said I have joined Auslancos room which is excellent, and I have yet to draw any conclusions on Kinn’s new room. I plan on Joining Hosea’s trading groups as well. I may end up rejoining Pipsnipers if they turn things around since I root for the underdog.

    -Kevin

  431. MARIE March 28, 2008 at 9:30 am #

    Hi Kevin, didnt know that Kinn started the room, his last email stated that he would email me the password for the room. Could you post that info please / Also when I use to be with Auslanco he use to forward the calls to my email , has things changed ?
    I think all the spotlight was on Hosea this morning that might have been a factor.He is great !!! he was very reluctant in making a commitment to staying in the pipsnipers room though as a matter of fact he did not answer when Jason asked him if he would stay.

  432. pips March 28, 2008 at 10:59 am #

    Hey guys I am so disappointed with jason dem… and what made me laugh till mi nearly drop is when him seh him glad seh dat “a real trader” Hosea join d team and hope him can save d team… lawd.. and den next few hours mi get email from sombody dat u can save $225 by subscribing to hosea trade calls directly since hosea only charge $100 while pipsnipers charge $325… so those who intrested think u can prolly try subscribing to hosea directly with $100 than going with pipsnipers $325.. and u’ll be gettin the same damn calls from him…

    Everything went so well until the 2nd week of march when all hell broke loose wid pipsnipers.. Man.. what happened… Ah well..

    Hosea trades are much longer term that targets more than the regular scalpin 10-30pip trades u get from pipsnipers. He has much mor respect for ppl than jason who always like to ban ppl when dem seh somting jason nuh like…

    Guys I’m so sorry that I recommended so much of the group from before coz when it was free, everything was so nice, and the whole pipsnipers team had respect for each other, but as it turn to a paid room, dem go crazy… Hope u guys never lost too much money with them… but like Chris here said.. I too will not be renewing my subscription coz Jason lacks the decency to mek up to d members dem, like give dem april fi free to mek bak all d losses wid hosea on board but NOOOOOOO, u haffi pay fi april and den hav May free… so is then I know Jason even failed and suck as a sales person!!!

    A close friend requested a favor to find a lower risk trading strategy to trade so I am currently workin on a EU strategy for capping 20pips each time on my likkle free time i get workin here in d supermarket, so far from a 1k real account started trading it march 25th midnight till now 28th, a period of 4days have gained 90% ROI and still goin.. so current closed account balance is at $1900 with a position still opened. Its the first I have ever got this kinda return from this slow EU pair… reason I chose this is to develop a less risky pair trade to protect accounts from getting whacked from the massive price actions that GJ produce. Normally 100% per week ROI is my target from GJ and if EU can produce this for me now is even better for those with small accounts. Unfortunately, i cannot share this system with u coz mi eyes are my indicators..LOL.. but when it is fully tested, I will give u the trade calls for free either via messenger etc once ur online.. So wish mi luck!!

    I gotta go! but think about the option of goin with hosea directly than wid pipsnipers coz slowly but surely pipsnipers under Jason’s management will go down the drain.

    You check hosea out at forex factory, his thread is turn1to100′s, forexfactory.com/showthread.php?t=58730. And his e-mail is class1broker@yahoo.com.

    Peace..

  433. Mr. C March 28, 2008 at 12:35 pm #

    Peeps thanx for keeping the info flowing, you have all been helpful. Pips everyone here who visited pipsnipers learnt something from the experience. whether from the Mods or others, by comments or questions. I dont think that anyone is of the impression that you maliciously led us down the wrong path so for me no need to apologise, although i understand the feelings behind the apology. i know you guys have our best interest at heart in recommending stuff to us so please carry on. the onus is on us to decide if we will follow this one or not.

    lilli mo

  434. MARIE March 28, 2008 at 3:07 pm #

    hi Marie

    could you please fill out the below form so i can update you on the database. thanks.

    > First Name:
    >
    > Last Name:
    >
    > Username
    > (the one registered
    > with trading rooms
    > above in step 1):
    >
    > Email:
    >
    > Country:
    >
    > Telephone:
    >
    > Mobile/Cell:

    once completed: heres the email i sent after that:

    Hi Guys,

    Ok Finally some MOVING FORWARD :)

    First i wanted to wish everyone a HAPPY EASTER and second i wanted to thank all of you for you patience and continued support.

    There has been a change of plan regarding the Trading/conference room we are going to use.

    Im still undergoing some changes with the other site ( http://www.tradingrooms.com) i got you all to register with. So till i make my final decision we are going to use keynote conference room.

    now this is what i need you all to do:

    1) click on the following link: http://www.keynoteconference.com/cgi-bin/launch.pl?server=chatterbox.howudodat.com&room=0000026E

    2) SCREEN NAME: use the username you have supplied me and registered on the form you emailed me

    3) PASSWORD: hakunamatata

    thats it !!

    most of you are already accustomed to the room setup and layout.

    Im looking forward to catching up with you guys again :)

    Regards

    Kinn

  435. MARIE March 28, 2008 at 3:22 pm #

    The above post is from Kinn for those who want info on his new room.I also signed up with Hosea, got an email from Jason that Hosea will stay with him until he gets new traders, have a feeling Hosea would not want to be there for long.I wish the best for Jason though, but with any business , customers are most important and the minute we start disrespecting them our business goes down hill, if the service was excellent no matter who left ,most people would still hang around and work with him,but my mind was made up before today,after all we are all adults .Kinn’s room if free for one month so at least why not make use of that and see what happens .
    Pips , I appreciated the fact that you were not selfish and you told us about pipsnipers room, some people made good money there. However for me i think something positive can come from every negative if we care to see it. In this case we found out about Hosea and you never know what will come out of Kinns room.The most important lesson for me is to be educated more and more with FX .thanks for all the help Pips and the rest of the family here.

  436. pips March 28, 2008 at 8:47 pm #

    Hey guys,

    I’ve officially rated pipsnipers UNDER Jason’s management a total scam now at forexpeacearmy… jane had already left too.. and hosea, u can subscribe to him directly which is $225 cheaper than pipsnipers and u getting the same calls. I am becoming a business person now with the supermarket that i just opened up, and Jason lack every decency as a business person! What a shame.. Sorry guys..

  437. Chris March 28, 2008 at 11:06 pm #

    Pips!

    Would you stop with the sorry stuff already! you have been such a big help and inspiration to everybody here..Soo I dont think anybody is mad at you or is out to slash ur tires :) oh yes and we love you like a brotha from anotha motha lol..sorry, couldnt resist…

    Overall Pipsniper has cost me more than I have made but I still have no regrets about joining…I got a chance to learn things about the forex market that I had no idea even needed to be considered…A lot of the analysis techniqes I picked up there have already been incorporated in my own trading techniques and systems and i’ll will definitely still be using them for many years to come..so as i said no regrets..I can appreciate Jason’s passion but me and him just not on the same page no more..I wish him all the best though..For April, I plan to move forward with my own trading techniques and also go the direct Hosea route as well…Ok folks have a good weekend and take care..

    Chris,

  438. FX4life April 1, 2008 at 6:44 pm #

    Guys,

    I am examining some trading systems for scalps and day trading. I am back testing and will let you all know which ones turn out to be the most profitable.

    I would like to hear from anyone who found and tested a reliable system so that I can check it out myself. Provide details if possible or send me a link.

    Pips, Chris, Marie, HD, Mr. C & the rest of the team please help me out on this project. Give me some advise on which systems to test and share your experiences with the ones you use.

  439. HD April 5, 2008 at 9:54 pm #

    Hey pips,

    Dont worry about the pipsnipers thing man…even the best of us make a bad call sometimes….thanks to you and some of your lectures/sermons I am slowly improving my life even though things were not too bad to start…nuff respect as usuall…..and nuff respect to the rest of the this blog team.

  440. fxkohai April 6, 2008 at 5:21 am #

    Hey Guys,

    I’ve been silent on this pipsnipers saga for a while cause I always try to learn from every situation and I was hoping that the dust could settle so wi could find out ‘who done it’ but all now is pure cass cass and finger pointing btw Kinn and Jason. I think if this was an intentional scam then certainly Jason and Kinn had alot of help in pulling it off. Ah well ..we may never hear the full story. So that’s all history to me now, let me just leave them with this Peter Tosh song http://www.youtube.com/watch?v=ZFy93CiYbmM
    It was good while it lasted, I definitely learned a lot (So overall, finding out about the Pipsnipers room was a positive thing for me) but now my FX journey continues and I am still enjoying every minute of it and I hope its still the same with you guys!
    For those of you following the Hosea’s, Auslanco’s and Oz’s out there I hope you realize that sometimes these guys make opposite trade calls to each other, even though they are all successful traders. So be reminded that every trader will lose at some point. Priority number one for us to continue to learn all we can and develop our own trading abilities. Take care.

    BTW: Marie or anyone else who is in Kinn’s room, I’m curious to hear what is happening there?

  441. Mr. C April 7, 2008 at 9:56 pm #

    Hi guys, guess everyone is busy trading, hope all is well with unu. Any updates on the various rooms (Hosea, Kinn, Auslanco, Snipers)?

  442. MARIE April 8, 2008 at 12:54 pm #

    Hey guys !! just checking in to see how things going. Well been so busy with all the fx reading and trading. been in Kinns room and Hosea and bwoy, thought Kinn was really better than that. Same guess and spell trading going on, yes you win some and loose some ,but for such a professional trader i really expected better.too often going into trades that are headed in the opposite direction.Hosea has been very impressive so far, but he doesnt hang around at all, so its basically giving his calls and he’s off. . For Hosea’s calls i find you have to secure your pips before his TP to be safe.However, being in these trading rooms is not the best thing for me, so I am basically learning all I can to trade comfortably on my own.
    yeh, Fxkohai, like you said these traders give opposite trade calls, that I notice. nothing like learning for yourself.

    take care for now guys.

  443. pips April 11, 2008 at 5:49 pm #

    hey guys chk ur email, sent u somting.
    peace

  444. fxkohai April 12, 2008 at 11:07 pm #

    Hey GUYS!

    For those who might have missed this post supposedly from JANE, explaining her take on the pipsnippers saga please read
    forexfactory.com/showthread.php?t=76476&page=60 post number 896
    …In time the dust will settle and all will be revealed … but in the interim ..
    If you are there, Be VERY careful with Kinns’s and Hosea’s trade rooms.

    Later

  445. jamfx April 13, 2008 at 7:32 pm #

    Hey Pips
    can you send me some of those info. please my email address:
    jamfx30@yahoo.com thank you.

  446. pips April 13, 2008 at 8:24 pm #

    Hey guys,
    can someone fxkohai, or anyone forward the mail i sent u to jamfx plz coz I forgot to enable the save the emails option that were sent to u guys and I’m a bit sick with flu to retype the stuff that were in that email with the indicators. thnx.. jamfx will include u in my address book from now on..
    peace.. i gotta get some sleep, my nose is runnin like a waterfall at the mo..

  447. jamfx April 13, 2008 at 8:56 pm #

    Hey Pips,
    Thank you and I am sorry to hear that you are sick. I hope you get quick-recovery from the flu. peace
    jamfx30

  448. fxkohai April 14, 2008 at 10:05 am #

    Hey Pips!

    I did not realize that yu still sick man! I wish yu a speedy recovery! Just get the pharmacist in yu supermarket to recommend something nuh ? :)

    Jamfx see email

  449. pips April 14, 2008 at 7:40 pm #

    yup still sick,
    sent u guys another mail.. jamfx did i get ur email right its jamfx3 and not alphabet O rite coz mi yeye dem a play trix on mi when mi hav d flu so hope mi send d mail to u too…
    anyways lataz

  450. jamfx April 14, 2008 at 11:46 pm #

    Hey Mr. Pips,
    You got my email correct, not alphabet O its zero. I received your email, and thanks alot. I hope u get over that flu soon..

    Hey Mr.Fxkohai,
    I received ur mail , thank u too.

  451. Chris April 19, 2008 at 6:54 pm #

    Hey Guys N Gals!!

    Hope everybody is doing well..I just wanted to stop in and say a quick hello to let everyone know i am alive and well..Pips hope you are all recovered by now..I was actually fighting the same thing a week or so ago..hmm a mus u mi get it from :) lol.. I got the email you sent but havent gotten a chance to go thru is as yet…Thanks though man..you are always looking out..MUCH APPRECIATED! and to thank you mi not going to bother thief no bread from ur supermarket :D lol

    Hey Marie!! How you been? I feel you on the trading room stuff…Its can actually lead to pure confusion if you trying to follow all these trading room trades and also tryin 2 mek ur own trades at the same time..so if you not actually learning any by being in a room, a lot of the value is lost ( in my opinion)…If you just get trade calls (without any reasoning or analysis), den you might as well let whoever manage a small account for you and you can focus your time on learning and on ur own development as a trader..well take care everyone..going to go get some food

    Chris

  452. dragonslayer April 20, 2008 at 12:24 pm #

    PiPs said

    I just want to say a big up to U, and u have been an inspiration to me even tho I have yet to take the plung becuz of school.So what i would like to know wha tis the first step in learning……………….where do i go as the first step

  453. pips April 20, 2008 at 3:27 pm #

    Hey ppl

    BREDA CHRIS!!! U ALIVE!!!! BACKSIDE MI SWEAR SEH U DROP OFF D EARTH AND MIGRATED TO MARS!! Good to hear from u bro. Bwoy bread is d only ting pon u mind to tief yute, have som more ambition and tink a somting mo expensive to tief mon, like a bokkle a rum or vodka! Betta resale value dat. :)

    Bwoy mi actually is alot better now but still hav some naggin cough left, coz i ended up having bronchitis, so d docta dem seh. Thanks for your concerns… I’m still alive.. and far more busy than a bee.

    As for the indicators, the last system that i sent u shuld be doing some good becoz the signals and stuff does not repaint like some other indicators i know that can fool u if u neva test dem out for some time before. Combine this with some other things u know and u have some nice picture of where prices are going intraday.

    I will send u guys an updated email with some examples and there were several setups that happened on last friday that i want to show u that are winners 100% of the time.

    DRAGONSLAYER, WELCOME TO FX WORLD.. UR FIRST STEP IS BABYPIPS.COM GO TRU THERE FULLY FIRST.

    gotta go
    peace.

  454. dragonslayer April 21, 2008 at 3:12 pm #

    Yow Pips

    I don’t know if know, but u have renewed hope in alot of people where there future is concerned, I just saying keep doin what u doin; not only give a fish to somebody but teach them to be good fishermen( is a parable thing);I just gettin utech out the way now. Big up………………………………………babypips here i come oh and just in case u or any other want to give pointers the email is brendon_brwn@yahoo.com Bless up all

  455. HD April 22, 2008 at 3:47 pm #

    Hey Pips,

    Glad to know you still alive man !

    I have been trading live over a month now…struggling but learning….my account went down then up then down and now it is on its way back up again. I see the differences now between demo trading and live. With demo sometimes I just put in a trade and leave it and get lucky….I just dont feel comfortable with live trading without putting in some stops and tp ….anyways just to let you know you have been instrumental in getting me up to speed and going and all I can see is a bright future right now.

    Can someone please send me the emails Pips sent recently hd_731@yahoo.com …. much thanks

  456. Mr. Thomas April 26, 2008 at 5:27 pm #

    This is a private investment club. We offer a business opportuniy, through various 3rd parties you will have access to some of the most lucrative investments in the world, privacy, asset protection and alot more. Now, to start it off, once you join our private investment club @ which ever level you would like you will have access to a private bank account which has a deposit account with an apy of 9% and certificate depostis with an apy of 12-24% per ann your choice. We also offer forex training courses and manged accounts. Since this is a forex forum I have posted the info about our manged accounts below. If you would like to join me on this journey that will change your life and your family this is the only way to go, I promise you. We have the best behind us and thats all I can say. Please don’t email me unless your serious about joining. The minimum to join is $1500-$6,000. We also have annual conferences and I would like to invite some of you to join me. If your ready to join me please shoot an email to CThomas_1985@yahoo.com or CThomas_osms@yahoo.com with Private Forex in the subject line and any other questions you might have.

    Conservative Account: 5k minimum – 500k max

    Jan. 2.75%
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    Aggressive Account: 25K minimum This account has already started 2008 off great. It’s return for January was 20%. As of today 2008 April the return is close to 80-90%

    FEB 07
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    31.50%
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    18.50%
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    27.50%
    AUG 07
    42.00%
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    32.50%
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    19.25%
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    16.35%
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    23.40%

    Cthomas_1985@yahoo.com or CThomas_osms@yahoo.com

  457. pips April 26, 2008 at 9:40 pm #

    Heya guys,

    Sir HD i hope u got the stuff from the fellow ppl here like fxkohai or chris or so coz I forgot to enable the feature to save sent items so I dont have any recall of what I sent so far to forward to u….so hope one of these guys send u the stuff.

    Mr. Thomas… Wow nice returns, LOL, if u say 20% PER DAY then that might interest me. ;-) Heck even with the automated trading system that I’m about to disclose to my people here makes minimum average 80-100% per month conservatively. So you gotta do better than that man.

    Others I hope you know what you get yourself into when u join these stuff.
    Will send email soon with more stuff. Got some decent goodies that i’m working on to show u guys soon.

    lataz

  458. fxkohai April 26, 2008 at 11:03 pm #

    With them kinda returns Mr. Thomas supposed to have him hand full with clients …but then again maybe not cause him trying to recruit traders who doing those returns fi themselves ! LOL, hehe, rofl :D …by they way, where is minvestments? Vanished in thin air I see, Alright let me behave myself.

    Guys on another non-trading note, check out http://www.freerice.com by playing a word game there, you can help fight world hunger through the UN World Food program. From my checks on the net it seem legit and its fun too so spread the good word! Lata

  459. Chris April 30, 2008 at 9:30 pm #

    Hello hello HELLO

    How are you guys doing?? how did the month of April treat you??? Well just wanted to stop in and say hello to everybody …Hope all is well with you all..

    Pips

    I saw you were giving me a shout the other day..I was knocked out at the time..things cool still and thanks for the stuff…walk good mi bredda

    fxkohai,

    I will check out the site…its definitely a really good cause

    ok folks its approaching my nap time :) ..lata

    Chris,

  460. Syrian May 4, 2008 at 7:16 pm #

    I have enjoyed all the information/knowledge from this site…Keep up the good work

  461. MARIE May 13, 2008 at 7:55 pm #

    Hi Guys, seem like everyone’s busy counting Pips I hope.Well just a shout to say hello and I know that most of you are busy trading or practicing.Keep pressing forward and never give up all.Nice one fxkohai, real great cause. Take care all.

    Marie

  462. Eddie May 20, 2008 at 9:35 am #

    Hi Guys,

    You have a great forum here! Helping each other out is great! I have recently got into FX over the past 6 months, taken the MTI course with the “FX Chief” and opened Itrade, FXXD, and GFT accounts. Been learning alot, and trying out some EAs from pipforia and WSS on trial accts but have not found one method that consistently works. My own trading has been consistently “up and down” :). Trying to make some $$. Any tips are much appreciated.

    Happy Trading and thanks,

    Eddie

  463. arlene June 24, 2008 at 8:43 pm #

    i would like an invitation to olint

    thanks

    arlene

  464. VGR2100 July 3, 2008 at 12:09 am #

    Arlene,
    Re: Olint:

    Contact “Techinnah’s Customer Service” <
    customerservice@techinnah.com

    They will have to check you out thoroughly to determine if you qualify whereas Olint is highly self-regulated foreign currencies trading private investment club exercising strict observation of international laws in protection against money laundering, etc., etc..

    Kind Regards

  465. Pound Kat Ridge November 29, 2008 at 7:27 am #

    Hi guys, otday is november 28th 2008 the last blog was july where is everybody. did you all got rich and retired or DS took all your money? What an experience with this DS, where is he what has been happening?

  466. Hosea December 1, 2008 at 6:37 am #

    Hello all im glad to see all the good comments—me and AUSLANCO teamed up and will be giving free calls for the month of DEC 2008–contact me at class1broker@yahoo.com for more info–or contact aus–thanks–we really have something going now..

  467. Roots_man December 2, 2008 at 2:23 pm #

    Hi Folks,

    It’s been a while away from the forum but I see where folks have made great strides in improving their trading skills. For myself, I have tried ‘on and off’ and I have not really gotten any sucesss. Can you guys share some of the tips/information that Pips sent out a couple months ago? My email is roots_man2@yahoo.com

    Regarding the ‘clubs’ … it seems like some “shady” deals were going on… time will reveal all :-( … peace!

  468. singjaspreet March 27, 2009 at 2:35 am #

    Hi,

    I have some forex sites for link exchange.
    singjaspreet@gmail.com
    Please if you have any sites ,so please mail me

    jaspreet

  469. RICHARD July 21, 2009 at 12:44 pm #

    I JUST NEED 2 UNDERSTAND THE VARYING TIMEING IN FOREX. FOR INSTANCE WHEN IT IS 4.OOPM IN NIGERIA WHAT TIME IS IT BYOTHER COUNTRIES. THIS WILL HELP ME UNDERSTAND THE FUNDAMENTAL ANALYSIS BETTER AND HOW TO INTERPRETE THE CHARTS. THANKS.

  470. Sir Den February 16, 2010 at 1:54 pm #

    where is everybody ? Frustrated and broke ? did you all get caught up in the various ponzi schemes ?, you are not all alone, this is a worldwide epidemic which has been around from the begining of time and will still be around long after today. its part of capitalism.
    solution: try to be smart next time and do not be greedy.
    I feel your pain and anger, remember its neither life or death. lets pick up the peices and move on and learn from this. good luck next time.

  471. Jake April 16, 2011 at 1:10 pm #

    I’ve been reading about Forex for a while and of course I’m confused as can be. Anyway, I have a question. Can you only buy/sell a currency pair if you own that currency? Let me give an example: Say I want to buy or sell EUR/CHF but I don’t have Euros or Swiss Francs, do I need to have one of these currencies to execute such a trade?

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