The Forex Noob

I just received this from one of the brokers I have a demo account with. Does it disturb anyone?

The NFA HAS ANNOUNCED A NEW RULE REGARDING FOREX ORDERS; the CFTC has approved NFA Compliance Rule 2-43 regarding Forex orders. The new rule will prohibit customers from carrying offsetting positions in the same account a practice referred to as hedging. The new rule requires an FDM(Forex Dealer Member) to offset positions in a customer account on a first-in, first-out basis, thereby prohibiting hedging. A customer may, however, direct the FDM to offset same-size transactions even if there are older transactions of a different size. The rule is effective for all positions established after May 15, 2009. Hedged positions that were established prior to the effective date do not have to be liquidated, but once either position is closed out after May 15, it may not be reestablished as a hedge.

For more information, click the link below.

http://www.nfa.futures.org/news/newsNotice.asp?ArticleID=2273

I briefly covered The 60:30:10 Principle a few posts back, I admit I downloaded the info but have yet to read it. I will this evening.

Jason Fielder is the guy and I just watched a vid of his on stealing pips. I also have one of his indicators on many of my charts just to see what it’s all about. I may like this guy. His system is hte Triad Trading formula. As far as I can see it’s not for sale…yet. I am getting many emails form him and from the FAPTurbo folks so I suspect a product launch soon.

Take a look at this vid and let me know what you think. I don’t know if this is a common strategy but it makes since to me. Here’s a link to his blog home page.

The more resaerch I do the more I realize I have to learn.

Thanks for your time,
The Forex Noob

I’m trying to get the office set up and post reports at the same time. There ia a lot of info coming in on a number of forex issues.

It may be premature to say this but her goes, My guess is that the Forex MegaDroid update is cosmetic and for marketing purposes. The waiting issue was a major source of questions and frustration for those who purchased the products . Waiting has been replaced with two more descriptive notices that do make you feel better but do little else. I could be wrong … they could be true indicators of what the Droid AI is actually thinking. Here’s what I’m talking about:

You can see that the waiting is gone and has been replaced with Checking Volatility and Correction Detected. Great! Happy to hear it. Makes since. Only isn’t Forex MegaDroid marketing as having Artificial Intelligence and being able to trade in any market? Volatility or not it should be able to trade. I like volatility. Swings make money. And is this only an indicator change or will it fix the no-trade-in-a-week syndrome we have experienced?

OK, I haven’t given it a chance I know, and products are often released then tweaked to fit market demands. I plan on sticking with Forex MegaDroid for a while longer just to see how it preforms over time. It will go on a couple demo accounts soon so it is ready for trading next week.

Thanks for your time,
The Forex Noob

Again, little to report because I am ina transision mode in y life. You can see in yesterday’s quick posts that I loaded FAPTurbo on my live account and before I was finished entering the info for all four pairs it was trading.

Last night I finally got Forex MegaDroid v 1/10 loaded. The .dll file continued to be an issue but it is now running and yet to trade.

FAPTurbo on my live account made money,$4.04. The -$19 is another EA I am testing.

I’ll have more info later once I get my new office set up and a few new demo accounts going. I am more and more interested in how these robots trade on various accounts.

Thanks for your time,
The Forex Noob