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brooky29
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Everything posted by brooky29
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Starting a Forex Technical Analysis Service
brooky29 replied to chris777's topic in Technical Analysis
Chris I own and operate Brooky-Indicators.com and have the following comments for you. 1) Whatever payments from whichever service/product you offer would no doubt have to fit into the tax structures that you as an individual (sole trader) or as a company under the laws of whichever country you are established in fall under. That is a quick question to your accountant. Paypal is the obvious payment processor as in all reality the others are hard to setup and deal with. You will have to disclose your contact details to any payment gateway though you may be able to mask it in invoices. 2) I have not been asked ever for my physical address though anyone can ask for it if they wanted to. Any of my customers can always contact me directly through my email address on the contact page and that has been acceptable to many for years now. 3) Regarding signals, as far as I am aware, the standard required disclaimer and CFTC RULE 4.41 would cover any recommendations i would have thought. 4) Pricing I believe is totally dependent on disclosed proven results of using your signals. There are many no cost (eg: as is all the analysis on my site) analysis sites available and many brokers offer a full suite of technical tools including Auto Chartist etc these days, so there is no value in analysis directly unless you have discovered some hidden holy grail. You may want to base your pricing on what is available through someone like RentaSignal or other providers. Hope some of the above helps. Cheers Brooky -
The Dimensions Of A Successful Trading Entity
brooky29 replied to atradersuniverse's topic in Trading
Succinct and a good holistic view.- 1 reply
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- trading business
- trading entity
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Just to add to the comments is the odd deep rooted belief that some people have that they cannot or do not deserve to succeed. If someone has grown up in a world of average major success is often regarded by themselves as beyond their reach and they will invent potholes all by themselves but with 100k available as capital I don't think this applies here unless it is borrowed money. (Big no no) I agree with a comment above that if you only deal with percentages you are much better equipped to pull the trigger on larger trades. Seeing 5k go down the toilet is never nice, but seeing 5% disappear seems somewhat less soul destroying. I personally have a year long budget spreadsheet that uses the same risk and calculates lot sizes according to the compounding balance and only ever look at what lots I should put on depending where I am in the timeline. The only time I note the dollars is when I enter in the profit or loss after each trade. This helps me immensely. Another big help for myself is to take time to plan the trade, place it with SL and TP and walk away. I either have got it right or wrong. I would have thought that 10k and a good strategy with good money management would have been more than enough to crank in a nice return. Perhaps the strategy relies a bit to much on deep stops and that fear is making your guts turn. Good luck
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I use Go Markets real and Demo for all the indicators etc I develop and use. You can read about them on my Indicator Website. (Moderator: Promo URL removed) They could be just what your looking for. Cheers Brooky
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Hi Blueberrycake. I have found that while many of the crosses may have a reasonable liquidity, often the cost of doing business ie: spreads make the risk reward a bit hard to achieve compared to the range of the pair that day. I found a very useful indicator that will let you know if it is worth trading a particular currency. You can see it on the attached chart on the top right. Basically any spread percentage under 5% is worth a look, but over 3% is really getting too expensive. That particular indicator is not mine, but Hector has a great explanation of it at the following link. What Currency Pair To Trade I can't remember if I had to sign up or not to get it but I did and he has some very cool info on his site.
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Torero. Images seem to have gone? Could you perhaps attach them instead of linking to them. Thanks.
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Hi, Not sure if I quite got what you were asking, but if you need to position a moving average around the chart you might find this indi useful. I have made it so that you can apply horizontal and vertical shifts both positive and negative. The chart attached shows the same indi loaded a few times with some parameters changed to show you how it can work. Hope you find this useful. Cheers Brooky Brooky_MaMover.mq4