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Leverage is a scam - Forex brokers are electronic scams
Cybork replied to Woodpecan's topic in Scams AlertPersonally, I do not trust brokers who offer leverage greater than 500 because it is too risky for both the business and the traders. Just my two cents, banks do not provide high leverage because they are unwilling to take on the risk, whereas brokers are willing to risk their capitals and investments in this, which is how brokers play an important role in this supply and demand market.
MA system - Stop and reverse
Cybork replied to Spaladin's topic in Trading Systems and StrategiesHi Sapaldin. I will try out a few combinations on the original EA and indicators. I will reply with the results.
Do you use stoploss?
Cybork replied to pugglesdeatheater's topic in Begginers LobbyI view SL as a safety net. Just like wearing a seatbelt when driving or flying. You don't plan on having accident BUT you never know. Better safe than sorry is always a good philosophy to live by. Want to add this though. I always set SL more than my ACTUAL risk! What I mean by that is our trades are being watch or enter by the broker, so in essence, they can see everything! Therefore, I am not going to EXPOSE my risk. Have you ever enter a SL and notice price tends to hit your SL exactly to the pip and then retrace !!! Why do you think that is the case? Exactly. The broker know where you and most other places SL and will drive price toward them then retrace immediately (this happen on most Fridays). Therefore, say I KNOW my risk is 50 pips for that particular trade, I don't set my SL at 50 or even 60. I set it 150 pips. Why? This is just in case something really horrible happen beyond anyone control (terrorist, war breakout, or computer failure etc). I will watch my chart and close my trade manually at 50 or 60 pips depends on my chart price action at the time. I don't show the broker my hand. Same thing with TP. I set them higher than my actual goal and close it manually. Ofcourse, if my trade are in positive by 20 or 40 pips, then I will move my SL up to protect BE or lock in 10 or 20 pips. I will then let my trade play out because now the risk is on the house!
Cybork changed their profile photo
Cybork posted a topic in Scams AlertHello, everyone. I despise scammers like these, which is why I wrote this essay to warn everyone of a product that was just released today... A hoax, created by the same person who created Forex Maestro, semiautoforex, ThefxMentor, and other similar products... The address of the website is: ( forexcashdetective.com ) 2) Forex Cash Detective is a fictitious character created by a group of people who wanted to find out what was going on with their money. When you click on the Buy Link, you will be directed to the plimus website. Scroll down to the bottom of the page and click on the Buy button. When you click on The FX Elite, you will be directed to the FOREX Maestro website (theforexmaestro.com ) Every one knows forexmaestro is a scam now. Besides 2 of these websites, he also had some other scam website,