I haven’t looked into all the details, but it looks like another Open Book Copier like Etoro.

Fxjuntion adds widgets so now we can flaunt our verified gains online. Their widgets are nice looking. My widgets are recently hooked up to my automated signal service from Forex i007 EA

Short and sweet. The average ClickBank Affiliate Rebill are 1%. That means only 1% of their clients stay for a second month. Click Bank statistics are based on the overall success of their signal service and not an opinion from an affiliate. Therefore I’d say that a 1% renewal clearly shows that these signals are worth a penny. Stay clear of – http://www.vladimirforexsignals.com

Lifestyle

The life of a day trader doesn’t start out with hot women and fast cars, even though many want to believe this. If this is what you want then let this be your ambition to succeed. If you want to reap the benefits of being a successful day trader you need to realize it’s not going to happen overnight or within the first few years. Just like any business, you’ll need to put the majority of your time, energy and money into this venue. So before we get into the real life scenarios and the sacrifices that you’ll need to make lets start off with a positive note and list the benefits of being a day trader.

Freedom

The first thing that comes to mind is the freedom to live where you want. You only need a computer and an internet connection which gives you an unlimited amount of destinations to choose from. Now location does matter because the time zone factor will have a great toll on your life style and virtually on your success. I started out trading long grave yard shifts on the West Coast of the United States. It didn’t take me long to realize if I’m going to do this for the rest of my life, I need a normal lifestyle that doesn’t require sleeping in the day and begin trading at Midnight.

Best Time Zone for a Day Trader

I jumped on the first opportunity that I had and moved to a better time zone. Now the time zone that you pick will probably depend on your personality. If you like to wake up early and finish work around Lunch time, you should be in the UK or possibly NYC. If you like avoiding rush hour and slipping in through the door after everyone else, move east of UK for a GMT+3 Timezone. GMT+5 India, Qatar, Russia, China are all great places for the sleepy heads that like to get stuff rolling around lunch time. The last few hot spots are in Asia like Malaysia and Thailand at GMT+7. I’d say that even Hong Kong and Singapore are pushing it too close as London Open would be at 4PM GMT+8. Therefore, that puts Tokyo, Sydney, and Los Angeles out of the question as London Open is past dinner time which would be the least likely picks for a day trader. Since London Session has the greatest trading volume you’ll want to maximize your efforts by trading the most active sessions.

Independence

The market is your schedule. You plan your day around the market open/close and news releases. The rest is up to you. You still have a responsibility to monitor the market and do your job but there’s no pressure ( well there shouldn’t be). You don’t have to put on a trade, you don’t have a dead line, you shouldn’t have any obligations forcing you to produce ( quota – projections). Last but not least, you don’t have a boss and this alone will make you live a happier life.

Taxes

Capital gains are subject to a 15% federal tax in the US. Some countries are even Tax free ( spread betting – UK). There’s nothing like making money and not having to give 30%+ to your government.

For all the Right Reasons

You should want to become a trader for the flexible lifestyle and not the wrong reasons. For example, the possibly of becoming rich. I often see the majority of traders and investors that want it all and want it now. They feel like if there is not a trade running at all times they’re missing out on an opportunity. This mentality will only hinder your success and make more money for your broker. Trading success is mostly about emotions and how you control them. If you’re chasing your dreams with every trade you will over expose your risk capital and end up on the side lines saying ” what did I just do!” I’ll stop here for now and in part two I’ll go into detail of what you’ll need to do.

Regarding the role of the technical analysis in trading, before 1980s most researchers criticised it and concluded that is not able to produce as good results as the buy-hold strategy (Alexander, 1961; Jensen and Bennington, 1970; Fama, 1970). However, later studies have proven the opposite (Pruitt and White 1988, Bessembinder and Chan 1995). Trading rules/systems (using technical indicators) based on past data could create excess returns and prove that usefulness of technical analysis. Such conclusions had Brock, Lakonishok and Lebaron (1992), later Bessembinder and Chan (1995, 1998), Lo, Mamaysky and Wang (2000) and many others — Nikitas Goumatianos

Either Way, Timing is Everything

On December 18, 2011, I wrote an article about ForexAvatar and How this account manager could possibly be a good investment based on the statistics below. I also mentioned my concern as there were signs of Martingale and sure enough 1 month later, the account blew.

Why is this a good investment?

• Steady growth for 3 months
• 16% Maximum Draw-down
• No floating loss
• Over $150k invested
• Diversified Portfolio: Currencies and Metals
• Almost 800 trades within 3 months: Active Intraday Trader
• Best Pip gain = 333 pips = $2978 gain / Worst Pip Gain = 338 pips = $5348 loss
• Average holding time: about 3-4 Hours
• Profit factor: 1.87

Why Don’t Traders use Equity Protection?

Their marketing effort and past performance handsomely rewarded them with over 200k in investments. Shocking enough, their account went belly up in a very short about of time as another account manager fails to address risk management with out any safety protocol. Why not use my Discipline Trader EA? It’s Free! A lesson learned. Signs of Martingale have a larger influence on longevity than you think. There has to be a cutoff point. Equity Protection is a Must.

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aww . FOMC statement. That explains the current spike on the charts. =) QE3 must be on the lips. I’m still LONG EURO.

I joined REGNOW as an affiliate after Plimus and CLickBank kicked Forex Vendors to the curb, so now I’m on a daily mailing list of all the new products. Our Topic today is no other then the Magic Robot. Their latest Domain is ECNFOREXROBOT. It’s an arbitrage robot that continues to fool the newbie. So before you make that $2000 payment , please read my other articles pertaining this scam. – ScalpingRobot.com

I came across ECNJESUS.com and there are several short videos that display the administration function within the Metatrader Trading platform. If you’ve heard of the Virtual Dealer Plugin, well here’s proof of it. Enjoy.

No doubt algo’s are taking the markets by storm as their presence control the majority of the trading volume. While some agree and others disagree whether they add efficiency or destroy the true equilibrium and purpose of a open market, their presence will only continue to grow.

The popularity for automated trading system continue to grow as volatility becomes too strong for manual traders act fast enough to maintain a profitable edge. If you can’t beat them, you might as well join them. I’ll be dedicating 2012 to only automated trading system development.

I’ve been a manual trader (self taught) for over 5 years now and through my journey I’ve never had any long term interest in automation because at that particular time I’ve never seen a long term profitable automated trading system sold or shared or discussed publicly. Nor have I seen a private EA that performed profitability long term.

However, in 2011 I finally found my inspiration as ForexGrowthBot had 9/12 profitably trading months. This was enough to get my attention and motivate me to learn how to program.

My approach to automation will be quite different than most system developers because I do not plan to eliminate the human factor, but use my trading experience to give my automated systems robustness that I’d never be able to achieve as a manual trader. Just like how Banks will use an algo to execute a massive position discreetly as possible to eliminate market impact, I’ll be using my algo’s to execute orders on my behalf.

I’ll continue to update this post as I pursue my 1 year long assessment in automation.

• Algo Trading 101 – Sniffers
• Make Money in Milliseconds
• Function of an Algo
• Rock Paper Scissors Algo

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ELITE E SERVICES FX SYSTEMS

Their FXV1 Dot Com system -

A $500 balance that opens up 50 lots. I don’t get it quite yet. It looks like the use of hedging massive lots to churn rebates for their ILQ White Label.
• http://www.mt4i.com/users/fxv1_ilq
• http://www.mt4i.com/users/fxv1_1
• http://www.mt4i.com/users/fxv1_2
• http://www.mt4i.com/users/fxv1_3/stats http://www.mt4i.com/users/fxv1_4/stats

Next is their CurrencyBear Dot Com system (100k Min) that hedges. http://www.mt4i.com/users/cbportfolio — The history states over 100 days, but within the closed trade tab, there are only trades from 9/12/2011. I’m really not a big fan of Mt4i for several reasons but the most obvisious is the User Interface. Wait a second I found this – http://www.mt4i.com/users/cb2 — The history is little bit longer.

At this time, I honestly can’t determine anything conclusive with EES FX managed accounts. It doesn’t look enticing nor does it look worthy of a CTA to promote.

I apologize for such a poor article. I’ll add more later.

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