@mphpopular
I spoked with oanda live chat and it seems that oanda system is not affected by it.. our SL and limit order still stays U want i can pass u the transcript.. currently in office.

My office blocks so many things.. msn, yahoo messenger.
Websites blocked = blogs, dailyfx, meebo and so on

strange thing is.. fxstreet can load but dailyfx cannot hhahaha and oanda also can but dunno can load platform or not

NFA new FIFO rule for all brokers are same. As i know if you open the 1st & 2nd trades with same lot size, then you can't create S/L & T/P for 2nd trade, unless you use different lot size for both trades.

yeah the ruling kinda sucks for those who are use to MT4...  im not sure abt other platforms eg hotspot/currenex etc etc..

well you can always opt for not NFA regulated.. just open an account with a broker in eurozone(meaning europe) or australia.. 

@rstusa
oanda is different from mt4 brokers ask everyone haha. Welcome to oanda

I hope so but i can't find any broker provide nano lot size which is $100 contract size ($0.01/pip) because i currently trading for nano lot size in IBFX, heard that currently worldwide only IBFX & Oanda available.

@rstusa
oanda is different from mt4 brokers ask everyone haha. Welcome to oanda

alpari uk

alpari uk

Kelvin works for Oanda Malaysia....LOL

but their mini account is limited.. to max 2 lots(20k, currency units)  if your using martingale .. that lot limit kinda sucks..

1 cent/pip = 100 units, 10 cents = 1k units, 1 buck = 10k units, 10 bucks = 100k units(which is the normal standard lot)

or you can opt to fund your account with 10k rather than 1k and work with 10 cents/pip

alpari UK micro/standard comparison...  MICRO_and_CLASSIC_Accounts.pdf ( 37.24k ) Number of downloads: 13

Running Money

Kathy and I often receive offers to manage money and so far we've refused everyone of them because we are simply too busy with research and our advisory services to devote the proper energy to the task. However the idea of running money has made me think about the criteria I would use to evaluate a money manager. Following are simply my thoughts and are by no means the final word on the subject, but I thought they may be useful points of reference for everyone to consider.

1. Be Sceptical

I never believe triple digit returns. Even if the trader can show me an audited trail of his results (and most never can), I know that 100%+ gains can only be achieved in two ways - through massive leverage or unbelievable luck. In either case, disaster is just around the corner. Leverage will turn on you like a rabid dog and luck will always run out. Have I seen traders take $100 to $10,000? $10,000 to $1,000,000? Yes and yes. But inevitably I've seen those same accounts give the money back as $10,000 suddenly shriveled to $2,000 and $1,000,000 dropped to $100,000.

The problem with investing with a hot hand is that you never jump on board during the initial $10,000 to $1,000,000 run because the trader has no "record". Once the trader has a "record" and you climb fro the ride the losses inevitably start. In fact the longer I am in finance the more I believe that allocating your capital based upon the best return "record" is a near guarantee of losing money.

2. Acceptable Drawdown

Paul Tudor Jones, one the greatest traders of all time, has a very simple and I believe very effective formula for properly analyzing trading success. No sharp ratio, no risk-adjusted returns, no complicated math at all. Instead the Tudor Jones rule is quite straight forward. Your drawdown should not be greater than 1/3rd of your gains. That means that for every $1 run up in profits you should not give back more than 33 cents to the market. That is a very difficult task to achieve. Even, if the trader only gives back 50 cents of every dollar won consider him a good prospect for your money.

3. Evaluate By Months, Not Trades

Consistency is the last refuge of the unimaginative according to Oscar Wilde, but when it comes to financial returns it is the true measure of success, because money compounds and grows much faster in the long run with small but predictable returns rather than with huge hits or misses. At the same time worrying about every trade is a sure path to an early grave. Most professionals evaluate trading records on a monthly basis which seems to be a period long enough to smooth out the day to day bumps but short enough to warn the investor of any possible problems. Steve Cohen and Paul Tudor Jones have only had two or three losing months out of more than 200 and in the losing months they never gave back more than 2% of the equity. That's the gold standard to beat.

4. The 1% Solution

What's a reasonable rate of return? 1% per month. Achieve that and you are making 12% a year - almost double the long term average of the equity markets. Make 2% per month and you are on the way to hedge fund immortality as less than 1% of all investors worldwide produce such returns on a consistent basis. These expectations may seem remarkably modest but they are realistic. You make millions one slow dollar at a time."

Reference : Boris Schlossberg & Kathy Lien

Hi,

I have been recommended by a friend who is trading forex using some automated system. He claims that it will be able to give him conservatively 2 - 3 % per month with minimal effort. I am wondering if this is true. With the automated forex system, we don't need to do anything? How does it work?

Hope someone can help clarify some of my doubts on this.

Hi,

I have been recommended by a friend who is trading forex using some automated system. He claims that it will be able to give him conservatively 2 - 3 % per month with minimal effort. I am wondering if this is true. With the automated forex system, we don't need to do anything? How does it work?

Hope someone can help clarify some of my doubts on this.

JavaRoach
PrivateNetWorth

---

Added on July 4, 2009, 12:12 pm

Oanda got company in Malaysia?

---

Added on July 4, 2009, 12:15 pm

Hi,

I have been recommended by a friend who is trading forex using some automated system. He claims that it will be able to give him conservatively 2 - 3 % per month with minimal effort. I am wondering if this is true. With the automated forex system, we don't need to do anything? How does it work?

Hope someone can help clarify some of my doubts on this.

JavaRoach
PrivateNetWorth

Hi spammer

---

Added on July 4, 2009, 8:59 pm

I am just joking with kelvin:)