WorldTrader

Yes, he is posting his links and promoting his software...beware.

Great topic...Let me add my Two Cents. I run a live Forex room in the evenings. I can tell you that even though I call each of the trades and we all use the same entry, stop and targets..we each have different results. Some folks have crappy brokers and get bad fills or they get stopped out and others don't. Others, even though they are told, you must add the spread to each buy...they forget, so they get triggered into a trade that the rest of us or flat on. I really enjoy teaching them how to trade and the art of forex trading. The system is good and the equity curve continues to grow, but again at different rates for different people. Now on to the matter of refunds. I don't offer any refund, I don't guarantee you will make money in any one month or week, but I do guarantee you will learn how to trade and you get all of my resources for that month that you paid. Spreadsheet of performace, my select pairs, my exact trade plan and so on and so on. Some, people quit, they find out forex or swing trading is not their cup of tea. I think if I gave them 110% back, that would open the door to the lookey loos and those that are not serious. I work hard for my money and try to teach those that are teachable. Not much in file is free execpt advice and this great website and community of traders, who give back to the community! On that final note, I do give things away free. I got a call from a guy who had the system, a medical student, said he did not have any money to pay for a month of my help and training. Come on $97..if you don't have that, how can you trade anything and try to supplement your income..I did not ask him how much he had to trade. Anyway, I gave him my select pairs and trade plan to help him out and maybe he will come join once he has made some money on his own. Thanks again for this great Thread!

Bozzio, I trade emini Futures. Pattern Day Trader rules don't apply. If I want to hold them overnight, which I only do on longer Swing Trades, then the margen is higher. It depends upon your broker. Who is your broker and what are you looking to trade? BW

I am looking to trade weekly options...so I can trade APPL at $300 and not take a big bite out of my trading capital. Does anyone have much info or input on Weekly options? BW

Getting stopped out is half the fun. I have found that most of my trades retrace after the entry. So, one strategy I have is to have my normal entry and then wait for the retracment. Then place my stop when I do the order. This way my stop is further away than the original stop would have been and I make more when I hit the original target. Test this out with your strategy and see if it does not imporove your results. Of course the retracment might be a reversal and you stop out anyway..so stop and reverse:) BW

I never wanted to be a stock broker, but now enjoy trading full time. I trade some stocks with my indicators, but mostly the futures markets. If I had more time, I would look at stocks more, but I am making enough money with Futures. Then there is the whole, why trade the stocks when you can make a higher percentage return trading the options. So, my next quest is to learn all about Weekly Options. My Son has a professor that is making a lot of money on APPL Weekly Options, from what he tells his students. Maybe I will start another thread.

Welcome Keith, I also trade the NQ and the TF some along with mostly the Energy markets like CL, NG and then throw in GC. Share some of your thoughts on the NQ and heck, I am not a fan of the ES, but never too old to learn. BW

I have to agree with most everything that has been said. You need to have an exit plan before you ever put on the position. If it gapped below that then it should be sold. Also, you need to think about GAPS. They can happen in every market, even when they don't close on a daily basis or over the weekend. I have personally had large gaps on forex during news events. Now back to the trade. The only reason I would hold, past my stop, which should never happen, but mistakes can be made. is because of the value of the company. GE is a good solid company with good management. They pay dividends and you have an expectation that it will go up over the long term. Why did they drop, news, earnings? This is not hope or a guarantee, it could go the other way forever and become wothless, but the odds are still in your favor. Your account has to be able to not take a dent with this entire loss. So, if it does not hurt your trading and you can trade other stocks and make money and want to hold GE long term, then keep it. I know buy and hold is dead! Just something else to think about, If you bought Apple last week at the high and it dropped $20 which it did..do you sell or hold...what was your plan? Will it go up or down from here, is it a solid company? The Odds are going up, but be ready for the correction and exit strategy. BW

Thanks Justaguy! I have talked to several people at Oanda and they are happy. My account just left FXCM UK, so I think it is time to move to them. So, take one profitable trader away from FXCM. BW

Method, now that you can chart it...what is your idea? BW

BlowFish or anyone. I like Ninja and AMP Futures, but with these new rules they have cut out Free Forex feed from Gain. So, here is my question. How can I get a Free Forex Data feed now and what platform other than MT4. I would like it to be Ninja or maybe Esignal. Thanks BW

Thanks Max. The guy I heard about them from yesterday spoke with the owner for 30 minutes and he was impressed. I will check them out.

Do you consider The CL, GC or NG an emini? I trade with limited risk and make about 2K a day. You can easily make a living as a trader. Now, I don't make 2K every day, some Break Even, some 1K, but when I get my trades early I am done and move on with my life.

I just heard that FinFX is a good broker that US clients can use like before..has anyone heard of them?

I think you can trade as a US Person FX spot, but only with brokers that do not have a US division. So, if they are not regulated by the US in any way, they don't need to repatriate. Keep me posted on what you find out for a good overseas FX broker..sptraderric