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How many of you guys make money from forex?

Discussion in 'Making Money' started by davey_89, Jan 25, 2008.

  1. davey_89

    davey_89 Newbie

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    Hey all,

    Just wondered how many of you guys are into forex? if so, do you make steady money from it...

    And do you prefer technical or fundamental analysis or both?

    I trade when I can have recently put together a new system im testing / back testing.
     
  2. iezcha

    iezcha Registered Member

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    I make a lot of money ..I'm using ea ...
     
  3. MontyzPython

    MontyzPython BANNED BANNED

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    What is EA?
     
  4. davey_89

    davey_89 Newbie

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    I believe he means "Expert Advisor" a robot advisor?
     
  5. Fouad Aslam

    Fouad Aslam Registered Member

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    EA is an expert advisor; a robot that executes trades automatically.
    I traded forex for some time. I made some money and then lost some. I stopped it as it was difficult to adapt to the life style. Plus the actual trade , the live trade is a whole diff ball game than back testing. It is a very very risky field. Do your homework well before entering into it. You can never go with the philosophy of Either technical OR fundamental. You have to do both and if only one then Fundamentals are far far more imp than technicals.
    All that is happening currently in the markets is fundamental based, the SMA or EMA or Bollinger's etc have nothing to do with it.
    That said you must learn candle stick patterns, or bar patterns and Fibo's are awesome for reversal points and Stop lossess and take profits.
    lastly beware of the brokers. Go with the big guys or be prepared to be screwed.
    best of luck.
    Fouad
     
  6. nephalim

    nephalim Newbie

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    I think EA refers to an "expert advisor". This is like a software or robot that follows the market and tells you when your system shows a signal. It requires a robot and a program or system. There are lots of different ones or you can make your own.
     
  7. extreme90

    extreme90 Jr. VIP Jr. VIP

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    maybe earnforex.com/ ?
     
  8. joejoe1234

    joejoe1234 Newbie

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    How can one get an ea script -- would really like source code to recreate my own :)
     
  9. iezcha

    iezcha Registered Member

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    this my statement
    Code:
    hxxp://fx-finance.net/fxfin3/state*me*nt.htm
     
  10. kilroy

    kilroy Registered Member

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    Hello friends,

    EA stands for Expert Advisor. Its a program that buy and sell currencies according to a strategy. You let it run and voila, you're making money automatically without effort.

    And finally for your information, I am an EA coder :rolleyes:

    Cheers.
     
  11. davey_89

    davey_89 Newbie

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    There are many scripts out there, if you use MT4 (Meta Trader 4), you can install the scripts, but as Fouad Aslam said this is only really going to help you with technicals and at the moment its all about Fundamentals.

    I have a few good scripts which I have adjusted to suit my personal tastes but they're by no means perfect and can give you many false signals.
     
  12. Entrepreneur

    Entrepreneur Regular Member

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    Opening a whole can of worms there!

    The TA verses FA has been rumbling on for years and always will, it depends what suits you.

    I have never touched fundamentals, i'm technically minded and nothing else. If you read Market Wizards, or New Market Wizards, by Jack D Schwager, you'll find there's incredible traders, who are either Tech minded or Fundamentally minded, and both seem to think the other is a lesser system.

    Personally i don't care which is best, they're clearly both good, but you have to trade within your comfort zone and with a method that suits your personality. Technical Analysis suits me, so it's what i do, nothing else.

    I don't complicate my trading, i simply use a series of Simple Moving Averages, Fibonacci Retracements (intraday), volume and sometimes throw in some Stochastics and MACD for extra confirmation. I also look for confirmation across many time periods.

    Oh and in case it's relavent, which in hindsight it probably is, i have never sold or bought a single currency pair! :D I used to just trade indexes and volatile equity.
     
  13. davey_89

    davey_89 Newbie

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    Did you find it was "safer" ;) to trade volatile equities than pairs? This is something I would be interested in reading up on.
     
  14. kilroy

    kilroy Registered Member

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    Hello,

    as requested by few people, I uploaded one of the EA I released about 2 years ago with another Forex guy:

    hxxp://www.megafileupload.com/en/file/42263/TB-Hans123v1-bh-mq4.html

    This is a modified release of a very famous forex breakout strategy created by a dutch guy called Hans123.

    Regards
     
    • Thanks Thanks x 1
  15. iezcha

    iezcha Registered Member

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    Still consistent making a lot of money....save and profitable... 50% nett profit

    Update 29/01/2008

    Code:
    hxxp://fx-finance.net/fxfin3/statement.htm
     
    • Thanks Thanks x 1
  16. leeannel

    leeannel Newbie

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    Wow, I'm impressed with the success here. I tried forex awhile ago and lost more than $200. What an idiot LOL.
     
  17. iezcha

    iezcha Registered Member

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    NFP no problem using my ea :D still profit and profit again...

    Update 1/2/2008
    Code:
    hxxp://fx-finance.net/fxfin3/statement.htm
     
  18. InCoG

    InCoG Newbie

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    Where are the details for the EA you're using and how long have you used it?

    I'm testing one that does grid trading. Would like more details on this one
    as well.

    Thanks
     
  19. iezcha

    iezcha Registered Member

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    I'm using martingale system and forward test 6 months ... and now run real money
     
  20. iezcha

    iezcha Registered Member

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    It's time to withdraw :D

    Update Performance 6/2/2008

    Code:
    http://fx-finance.net/fxfin3/statement.htm