I have been using Exness, unregulated Russian broker, for a while. But I recently realized that they have increased their spreads. Until recently, they are like scalper's heaven, but they probably noticed that if they kept providing such extremely low spreads, they would have to pay for so many winners that use scalping EAs.
Now, I'll have to change my EA on Exness.
1.29.2011
1.28.2011
Hyper-V Mart Deal
I've been using Hyper-V VPS from Hyper-V Mart or Database Mart (same company) for quite a while. As I wrote before, this VPS provider has been the best.
I have spoken to George from Hyper-V Mart and got a very good deal. If you order their Basic Hyper-V plan, you can get additional CPU so that your VPS is dual core.
I had already been running 9 MT4 platforms on their Basic Hyper-V plan, but with dual core CPC, you can run 11 MT4 platforms on the desktop at a time! If you run multiple forward tests or have multiple live accounts trading different EAs, then their VPS server would be a perfect choice. As far as I know, you won't be able to find such a competent VPS anywhere else. Normal VPS, like the one from VPS land, allows you to run only 2 to 4 MT4 platforms max.
So if you happen to read this post and want to get the very best VPS, just send me a message using a form mail on this blog. Then I'll talk to George about the deal you can get.
I get no referrel fee or something. I just want you to be happy like me.
Cheers,
I have spoken to George from Hyper-V Mart and got a very good deal. If you order their Basic Hyper-V plan, you can get additional CPU so that your VPS is dual core.
I had already been running 9 MT4 platforms on their Basic Hyper-V plan, but with dual core CPC, you can run 11 MT4 platforms on the desktop at a time! If you run multiple forward tests or have multiple live accounts trading different EAs, then their VPS server would be a perfect choice. As far as I know, you won't be able to find such a competent VPS anywhere else. Normal VPS, like the one from VPS land, allows you to run only 2 to 4 MT4 platforms max.
So if you happen to read this post and want to get the very best VPS, just send me a message using a form mail on this blog. Then I'll talk to George about the deal you can get.
I get no referrel fee or something. I just want you to be happy like me.
Cheers,
1.22.2011
Price Manipulation?
I would like to write about price manipulation.
Recently, I've gotten a very useful info from one of the brokers I use. A couple of days ago, I placed an order manually and set TP and SL. After a while, although my price had touched the TP, it didn't close in profit, but after that, my long position hit the SL when it's slightly above my SL level.
I took screenshots for both cases and sent them to the broker. They explained to me that the price information you see in Market Watch or the bar below Terminal window is Weighted Average Price, which means that the price shown on MT4 could differ about 0.3 pips from the actual price you get.
In other words, the price info you get on MT4 is slightly smoothed and it doesn't acurately reflect very fast, tiny fluctuation of the real price that brokers get.
This explained very well about the past experience I got with other brokers. If you were not happy with such filling of or non-filling of your position, then you would have to search for different brokers all the time because such up-to-0.3 pip difference can take place everywhere.
This applies scalpers only. Swing traders will not care such tiny moves.
Many slcalping EAs nowadays don't use hard TP and SL, and they place internally programmed TP and SL somewhere in the course of trading. They insist that such internal program was designed in order to avoid stop loss hunting. Yes, that makes sense, but by letting the EA close its position as if it's done manually, such EA can avoid such unwanted no-fills to TP or fills to SL.
I don't think brokers monitor every traders' trading activities all the time. So if you encountered similar cases as I did, just remember my post.
Recently, I've gotten a very useful info from one of the brokers I use. A couple of days ago, I placed an order manually and set TP and SL. After a while, although my price had touched the TP, it didn't close in profit, but after that, my long position hit the SL when it's slightly above my SL level.
I took screenshots for both cases and sent them to the broker. They explained to me that the price information you see in Market Watch or the bar below Terminal window is Weighted Average Price, which means that the price shown on MT4 could differ about 0.3 pips from the actual price you get.
In other words, the price info you get on MT4 is slightly smoothed and it doesn't acurately reflect very fast, tiny fluctuation of the real price that brokers get.
This explained very well about the past experience I got with other brokers. If you were not happy with such filling of or non-filling of your position, then you would have to search for different brokers all the time because such up-to-0.3 pip difference can take place everywhere.
This applies scalpers only. Swing traders will not care such tiny moves.
Many slcalping EAs nowadays don't use hard TP and SL, and they place internally programmed TP and SL somewhere in the course of trading. They insist that such internal program was designed in order to avoid stop loss hunting. Yes, that makes sense, but by letting the EA close its position as if it's done manually, such EA can avoid such unwanted no-fills to TP or fills to SL.
I don't think brokers monitor every traders' trading activities all the time. So if you encountered similar cases as I did, just remember my post.
1.18.2011
Skagen
I have purchased a wristwatch from Denmark. The brand is Skagen. The picture below doesn't do justice. It looks very sophisticated and cool.
Although I own a luxuary watch from Bell & Ross that costs around $3,000 or more, I like this $130 or so Skagen better.
Although I own a luxuary watch from Bell & Ross that costs around $3,000 or more, I like this $130 or so Skagen better.
1.12.2011
Shocking Fact about Forex Brokers
In the past, I had been an IB or Introducing Broker of a small forex company. The company owner explicitly said to me that they don't like winning traders and no broker likes winning traders.
I was like "Why? Traders win or not, you earn you profits from spreads, right?" He said no. At that point, I learned what the OTC or Over the Counter broker was. If your broker is offering Over the Counter trading service, then they are not actually trading in the market. Many people might believe brokers actually deal currency pairs according to our orders. But it's not true. They don't have to make any deal in the real currency market. They just show prices to customers.
So why brokers can make huge profits? Because they collect money from traders around the globe and accumulate it in their bank. Because they know, as you know, more than 90 or 95% or even more traders lose, they don't actually need to trade for customers. Once one of the clients lose his money, then his deposit would become broker's profit. You see? Brokers eat up deposits and gets fat because they know everybody will lose!
Ok, now, suppose the situation is different. What if there is one winning trader? Then, yes, they have to pay for him from the broker's bank account. Because they are not dealing real money in the market, they have no way to pay him unless they pay from their pocket.
That's the reason no broker likes winning traders. This is a fact.
At that point, I suddenly understood why brokers tried to kick me out when I had been doing News Trading and kept winning. They love novice traders, losing EAs, and anybody who don't know how to trade. They even give you great amount of bonus when signing up, so that they can finally get more.
See? I quit to work with this f*cking broker with bulls*it owner. This broker prohibited scalping because, according to the owner, scalpers would win. I had to keep saying to my clients like "excuse me, sir, you are doing scalping and your account may be closed if you don't follow our guideline." I was sick and fed up to say such nice comments to others (of course, ironically, because it can never be nice).
[EDIT on May 22, 2012: I had been misunderstanding the term, OTC. About four years ago, I was an IB of a broker and knew almost nothing about Forex, and my comprehension of market maker was misplaced with OTC at that time. The term "OTC" above should be replaced with "market maker."]
I was like "Why? Traders win or not, you earn you profits from spreads, right?" He said no. At that point, I learned what the OTC or Over the Counter broker was. If your broker is offering Over the Counter trading service, then they are not actually trading in the market. Many people might believe brokers actually deal currency pairs according to our orders. But it's not true. They don't have to make any deal in the real currency market. They just show prices to customers.
So why brokers can make huge profits? Because they collect money from traders around the globe and accumulate it in their bank. Because they know, as you know, more than 90 or 95% or even more traders lose, they don't actually need to trade for customers. Once one of the clients lose his money, then his deposit would become broker's profit. You see? Brokers eat up deposits and gets fat because they know everybody will lose!
Ok, now, suppose the situation is different. What if there is one winning trader? Then, yes, they have to pay for him from the broker's bank account. Because they are not dealing real money in the market, they have no way to pay him unless they pay from their pocket.
That's the reason no broker likes winning traders. This is a fact.
At that point, I suddenly understood why brokers tried to kick me out when I had been doing News Trading and kept winning. They love novice traders, losing EAs, and anybody who don't know how to trade. They even give you great amount of bonus when signing up, so that they can finally get more.
See? I quit to work with this f*cking broker with bulls*it owner. This broker prohibited scalping because, according to the owner, scalpers would win. I had to keep saying to my clients like "excuse me, sir, you are doing scalping and your account may be closed if you don't follow our guideline." I was sick and fed up to say such nice comments to others (of course, ironically, because it can never be nice).
[EDIT on May 22, 2012: I had been misunderstanding the term, OTC. About four years ago, I was an IB of a broker and knew almost nothing about Forex, and my comprehension of market maker was misplaced with OTC at that time. The term "OTC" above should be replaced with "market maker."]
1.11.2011
Super profitable EA blew up my account
So after I had to stop News Trading, I waisted my money for many paid and free trading systems and EAs. Someone told me it was called "tuition," but many of you may already know that the tuition would not pay off.
I think forex drives people crazy. Many people start trading forex as an easy business, but the reality is only a handful of people, maybe 5% or maybe 3%, are profitable and the rest keeps losing over and over with a vague wish of getting rich someday.
For me, the tuition I kept paying hasn't been paying off. But after quiting from News Trading, I started doubling my money every month, again, this time trading with an EA. This Expert Advisor kept doubling money every month like I did by doing News Trading, and again I thought I would buy an ocean front home in a couple of years.
But after some months, the EA completely blew up my account. I had been running the same EA on different accounts. The EA had blown up all my accounts in a matter of one to two days. I was really shocked that time. Including this EA, I had no luck with any trading systems, manual or automatic.
So I had to get an ordinary job, again, to support my family. I took some translation jobs and did some other stuff.
If I were asked what the forex business is, I would answer it is a huge business for the sellers of forex-related materials, but real traders who benefit solely through trading are rare. So, for me, the definition of "forex business" would rather be dealing forex-related things, buying or selling, NOT dealing currencies. Since most of the traders can't get what they want in exchange of the amount they pay, I'm not sure if I should call it a business.
But this is what I do.
I think forex drives people crazy. Many people start trading forex as an easy business, but the reality is only a handful of people, maybe 5% or maybe 3%, are profitable and the rest keeps losing over and over with a vague wish of getting rich someday.
For me, the tuition I kept paying hasn't been paying off. But after quiting from News Trading, I started doubling my money every month, again, this time trading with an EA. This Expert Advisor kept doubling money every month like I did by doing News Trading, and again I thought I would buy an ocean front home in a couple of years.
But after some months, the EA completely blew up my account. I had been running the same EA on different accounts. The EA had blown up all my accounts in a matter of one to two days. I was really shocked that time. Including this EA, I had no luck with any trading systems, manual or automatic.
So I had to get an ordinary job, again, to support my family. I took some translation jobs and did some other stuff.
If I were asked what the forex business is, I would answer it is a huge business for the sellers of forex-related materials, but real traders who benefit solely through trading are rare. So, for me, the definition of "forex business" would rather be dealing forex-related things, buying or selling, NOT dealing currencies. Since most of the traders can't get what they want in exchange of the amount they pay, I'm not sure if I should call it a business.
But this is what I do.
A bit more about News Trading
So, as I wrote on my previous post, I had to give up News Trading.
During the time I had been doing News Trading, I had been using a specific service. I think there are mainly three news trading service providers, but please know that they mostly don't tell you the difficult side of dealing with news.
If you do news trading, you have to deal with bad slippage, widened spreads, requotes, bad conflicts, ignorance, and rude comments from brokers, etc. The most important thing is brokers don't like news traders. They do anything to block news traders. Even with such down-side, you have to pay somehow expensive fees to such news trading service providers.
As some of you might already know, those FX trading service providers earn their money, not by trading for themselves, but selling products or services to as many people as they can find, and doing so is much more profitable than trading on their own.
Another down side is, news trading is not mentally healthy. My hands were always shaking and I was sweating all the time during news as I was so much scared to lose my money instantaneously. If you were not too much leveraged, and used an EA that could automatically place a stop loss for you, then you should be fine. But at that time, I was really overly-leveraged as I was really intoxicated.
During the time I had been doing News Trading, I had been using a specific service. I think there are mainly three news trading service providers, but please know that they mostly don't tell you the difficult side of dealing with news.
If you do news trading, you have to deal with bad slippage, widened spreads, requotes, bad conflicts, ignorance, and rude comments from brokers, etc. The most important thing is brokers don't like news traders. They do anything to block news traders. Even with such down-side, you have to pay somehow expensive fees to such news trading service providers.
As some of you might already know, those FX trading service providers earn their money, not by trading for themselves, but selling products or services to as many people as they can find, and doing so is much more profitable than trading on their own.
Another down side is, news trading is not mentally healthy. My hands were always shaking and I was sweating all the time during news as I was so much scared to lose my money instantaneously. If you were not too much leveraged, and used an EA that could automatically place a stop loss for you, then you should be fine. But at that time, I was really overly-leveraged as I was really intoxicated.
News Trading
Back in five or so years ago, I quit importing and selling surfboards and started using all my fund earned from surfboard business for trading forex, especially for News Trading or Spike Trading.
New Trading during those days was very lucrative. I had been doubling my money every month. I was using a special software called Auto-click. Auto-click gets certain figures sent from major news providers and automatically clicks buy or sell button of a trading platform. The speed of the click was lightening fast, and I could get into the market than most of human traders.
So, for example, right before one of the major news releases, such as Non-farm Payroll, UK Retail Sales, or CAD Employment Rate, was released, I used to sit in front of my PC, do certain configuration, and wait for the news release numbers are released. After some seconds, there would be a huge spike like 50 to 100 pips in a matter of seconds, mostly within a minute. When I successfully closed my position at the peak of the spike, I could easily earn a big profit in about one to five minutes or so because I was really high leveraged.
Sitting in front of my PC for about five to fifteen minutes, trading news events twice or thrice a week, was enough for me to double my money every month. For me, it was like a Holy Grail.
I thought I would be buying another house around the coast line in a couple of years. But, unfortunately, after several months, brokers started behave weirdly. Some didn't fill at all. Some slipped like crazy letting me in the trade right at the peak of the spike and it caused me a significant loss due to very fast pull-back of the spike. Some insisted that I had been doing manipulation or something, which all you know impossible to do. Some banned my account completely.
Finally, almost all brokers obviously or silently kicked me out. I tried many brokers, but only after one or two attempts, brokers noticed me and stopped me trading with them. The golden era of news trading was over.
New Trading during those days was very lucrative. I had been doubling my money every month. I was using a special software called Auto-click. Auto-click gets certain figures sent from major news providers and automatically clicks buy or sell button of a trading platform. The speed of the click was lightening fast, and I could get into the market than most of human traders.
So, for example, right before one of the major news releases, such as Non-farm Payroll, UK Retail Sales, or CAD Employment Rate, was released, I used to sit in front of my PC, do certain configuration, and wait for the news release numbers are released. After some seconds, there would be a huge spike like 50 to 100 pips in a matter of seconds, mostly within a minute. When I successfully closed my position at the peak of the spike, I could easily earn a big profit in about one to five minutes or so because I was really high leveraged.
Sitting in front of my PC for about five to fifteen minutes, trading news events twice or thrice a week, was enough for me to double my money every month. For me, it was like a Holy Grail.
I thought I would be buying another house around the coast line in a couple of years. But, unfortunately, after several months, brokers started behave weirdly. Some didn't fill at all. Some slipped like crazy letting me in the trade right at the peak of the spike and it caused me a significant loss due to very fast pull-back of the spike. Some insisted that I had been doing manipulation or something, which all you know impossible to do. Some banned my account completely.
Finally, almost all brokers obviously or silently kicked me out. I tried many brokers, but only after one or two attempts, brokers noticed me and stopped me trading with them. The golden era of news trading was over.
1.10.2011
How I happened to meet forex
When I had been doing translation as my main profession, I had been doing surfing as my favorite sport, and I found if I imported surfboards myself, that could be a profitable business because back in these days surfboard prices here in Japan were quite expensive while those in other countries were less expensive.
So I started importing surfboards. After a couple of years importing and selling surfboards, I found that how huge foreign exchange market could affect on my business. It was so surprising, only 1 yen difference could hugely affected my profit. When Yen became 1 Yen lower, I had to pay much more to buy a board. When Yen became 1 Yen higher, I could buy a board much cheaper. I was frustrated very much about the currency market because no matter how hard I tried to sell my boards, sometime my profits were eaten up like crazy.
Finally, I had to learn how to deal with currency market. After a while, I wire-transferred my money to surfboard shapers when Yen was significanly weaker. That helped me import boards easier than before. So I startede monitoring AUD/JPY chart almost daily. I had been importing surfboards from Gold Coast, or so-called Surfer's Paradise, in Australia.
After a short while, I've noticed that very small number of people are making huge amount of money dealing with currencies alone, without the need of buying or selling any goods or materials. Or even without making any conversation with others, which seemed to me that they were making money doing nothing.
I rushed myself to browse the Internet struggling to find a way to profit from forex. And I found a trading method called "News Trading." That moment, my life was changed. I would like to write about it sometime later.
So I started importing surfboards. After a couple of years importing and selling surfboards, I found that how huge foreign exchange market could affect on my business. It was so surprising, only 1 yen difference could hugely affected my profit. When Yen became 1 Yen lower, I had to pay much more to buy a board. When Yen became 1 Yen higher, I could buy a board much cheaper. I was frustrated very much about the currency market because no matter how hard I tried to sell my boards, sometime my profits were eaten up like crazy.
Finally, I had to learn how to deal with currency market. After a while, I wire-transferred my money to surfboard shapers when Yen was significanly weaker. That helped me import boards easier than before. So I startede monitoring AUD/JPY chart almost daily. I had been importing surfboards from Gold Coast, or so-called Surfer's Paradise, in Australia.
After a short while, I've noticed that very small number of people are making huge amount of money dealing with currencies alone, without the need of buying or selling any goods or materials. Or even without making any conversation with others, which seemed to me that they were making money doing nothing.
I rushed myself to browse the Internet struggling to find a way to profit from forex. And I found a trading method called "News Trading." That moment, my life was changed. I would like to write about it sometime later.
1.08.2011
VPS for MT4
I've used VPS brokers including Easy CGI, VPS Land, etc. Of all the VPS providers, my best choice is Database Mart (Hyper-V Mart is the same company).
I've never experienced any down time with Database Mart. And resources such as CPU and RAM are guaranteed.
For those of you who don't know what the Hyper-V server is, I give you some info. There are Virtuozzo VPS and Hyper-V VPS. Although Hyper-V is a bit costly, it guarrantees its resources and usage are completely separated from others, while Virtuozzo server is always affected by other shared users.
So, Database Mart (Hyper-V Mart) is not the only Hyper-V providers, but I like them. Because of all the Hyper-V providers I used, Database Mart is the most stable one, and they are the only provider that has no down time so far. Not only that, if you search on the Internet, you'll notice it would be very hard to find a Hyper-V VPS plan with such good CPU and RAM for the same cost.
Even with the cheapest plan, Express Hyper-V Server ($29.99), you can run 5 to 6 MT4 platforms, and they are still stable. For the same 512MB RAM, VPS Land offers their Virtuozzo VPS for only $19.99. But you can run only one or maybe two MT4s maximum, and it's not as stable as Database Mart.
Also, with Virtuozzo VPS, some of the execution files doesn't work. With Hyper-V, you can install anything. So there is a big difference.
I'm not an affiliate of Database Mart, but honestly, if you want to run your MT4 on the most stable server, I would like to recommend Database Mart (or Hyper-V Mart).
http://www.databasemart.com/
http://www.hyper-v-mart.com/
I've never experienced any down time with Database Mart. And resources such as CPU and RAM are guaranteed.
For those of you who don't know what the Hyper-V server is, I give you some info. There are Virtuozzo VPS and Hyper-V VPS. Although Hyper-V is a bit costly, it guarrantees its resources and usage are completely separated from others, while Virtuozzo server is always affected by other shared users.
So, Database Mart (Hyper-V Mart) is not the only Hyper-V providers, but I like them. Because of all the Hyper-V providers I used, Database Mart is the most stable one, and they are the only provider that has no down time so far. Not only that, if you search on the Internet, you'll notice it would be very hard to find a Hyper-V VPS plan with such good CPU and RAM for the same cost.
Even with the cheapest plan, Express Hyper-V Server ($29.99), you can run 5 to 6 MT4 platforms, and they are still stable. For the same 512MB RAM, VPS Land offers their Virtuozzo VPS for only $19.99. But you can run only one or maybe two MT4s maximum, and it's not as stable as Database Mart.
Also, with Virtuozzo VPS, some of the execution files doesn't work. With Hyper-V, you can install anything. So there is a big difference.
I'm not an affiliate of Database Mart, but honestly, if you want to run your MT4 on the most stable server, I would like to recommend Database Mart (or Hyper-V Mart).
http://www.databasemart.com/
http://www.hyper-v-mart.com/
1.07.2011
About me
Hi, This is Yas, the owner of this blog. First, I would like to introduce myself.
I'm a 39 years old man who has more than 5 years experience in forex trading. For the very first year in forex, I had been doubling my money every month using news trading or spike trading. But after several months, no broker allowed me to do that method. Then my funds went down badly and I could no longer profit from forex. I tried so many different trading methods and expert advisors, but nothing worked fine for me.
After some years, I started doing news trading again using straddle EA, and got some profits, but again I got troubles with brokers and found the method didn't last long.
I'm currently using some EAs. If I can find some nice friends to talk about forex together I would be happy. Unfortunately, I can't fully disclose what system I use. I would appreciate your understanding.
I'm a 39 years old man who has more than 5 years experience in forex trading. For the very first year in forex, I had been doubling my money every month using news trading or spike trading. But after several months, no broker allowed me to do that method. Then my funds went down badly and I could no longer profit from forex. I tried so many different trading methods and expert advisors, but nothing worked fine for me.
After some years, I started doing news trading again using straddle EA, and got some profits, but again I got troubles with brokers and found the method didn't last long.
I'm currently using some EAs. If I can find some nice friends to talk about forex together I would be happy. Unfortunately, I can't fully disclose what system I use. I would appreciate your understanding.
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