The Forex Noob

Last night I was going to read the 60:30:10 Principle but instead started reading  The London Forex Rush System manual.

London Forex Rush utilizes an intra-day stock trading strategy known as Open Range Breakout. In a nut shell Breakout traders look at the opening 30 minutes or so of a market when wild swings are common. They then track the direction of the particular stock (s) they are following immediately after that initial volatile period. The believe is that the initial direction of the stock will indicate it’s direction for the day.

London Forex Rush uses this  strategy on GBP pairs focusing attention on the end of the Asian market day as it overlaps the London trading day.

I was interested in this system mainly because it uses pairs not used with FAPTurbo and Forex MegaDroid.

The one thing that really hit home was had little to do with the London Forex Rush product itself but advice given in the manual.

“I am a firm believer in specialization no matter what profession field, and trading is no different. In the long run, it’s far more profitable to master one single system than it is to dabble in several. You know , to exploit one single, reliable, recurring pattern, rather than trying to follow many.”

I am a believer in this and have shared the sentiment within my professional world over the past decades. I now realize it is what I am searching for in forex trading and the reason I test many products and read about others experiences.

What do you specialize in?

Thanks for your time,
The Forex Noob

I never would have guessed that different forex brokers could make a difference in an EA’s preformance. I started a few demo accounts last night and loaded MegaDroid on them. One traded almost immediately! Two other demo accounts and my live account did not trade at all last night. What’s up with that?!?

My new demo accounts are all set up with an initial ballance of $5,000. The three brokers are FxPro, MIG FX, LiteForex.

FxPro now has Forex MegaDroid loaded and is the account that traded, twice, for a profit of $101.20.

MIG FX, LiteForex and my live account were in the new waiting mode.

We do now know that the Droid will trade and can trade quickly. Look at the eimes, 42 minutes after I opened the account, probably 15 minutes after I loaded Droid the trades opened!

FAPTurbo made one trade on my live account and lost $3.32. I’ll load it on some of my new demo accounts by Sunday.

I am also looking for other robots and systems to test and report on. If you have a preference let me know.

Thanks for your time,
The Forex Noob