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Thread: Harmonic Grid Trading System - Directional Profits

  1. #21
    gambort
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    OK, that's what I thought you meant, but wanted to make sure.
    Would you be willing or in a position to mentor me in your process, as I am 72 y/o, will turn 73 in Feb, live on SS alone, try to help out a 78 y/o vet who lives in a subsidized apartment, and want to use Forex for supplemental income to help both of us.
    I have been demo trading since April 2012, and your system makes more sense to me than anything I have yet come across.
    I am now going thru the FPA Forex Military course.
    I don't wanna be a burden to you, but thought I'd put the question out there, as you have been so helpful, thus far!

  2. #22
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    Quote Originally Posted by gambort View Post
    OK, that's what I thought you meant, but wanted to make sure.
    Would you be willing or in a position to mentor me in your process, as I am 72 y/o, will turn 73 in Feb, live on SS alone, try to help out a 78 y/o vet who lives in a subsidized apartment, and want to use Forex for supplemental income to help both of us.
    I have been demo trading since April 2012, and your system makes more sense to me than anything I have yet come across.
    I am now going thru the FPA Forex Military course.
    I don't wanna be a burden to you, but thought I'd put the question out there, as you have been so helpful, thus far!
    Where is the world are you based and what does SS stand for is it Social Security?, I trade full time and subscribe to a few different Forex sites where threads interest me. So I am happy to comment on any setups you find should you post a chart until you get a better understanding of what to look for, but it is important that you make your own trading decisions and thus learn how to manage your trades.

  3. #23
    gambort
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    Quote Originally Posted by Robot Trader View Post
    Where is the world are you based . . .
    I live in Salt Lake City, Utah, and SS stands for Social Security.
    I appreciate your willingness to help me. I do not expect a "signals service," by which I mean, I will hunt down what I think to be proper trades and make my own decisions, but there are lots of little things that you may take for granted but that are new to me. Here are several examples:

    1. Do you use a US-based or non-US-based broker?

    2. What is the leverage ratio that you use (50:1; 100:1; 500:1; etc)?

    3. IN the USA, we are limited to 50:1 leverage. Will that make a difference in the monthly profits, all other things being the same?

    4. Do you have special software to help you spot divergences or do you do it all manually?

    5. Have you found certain brokers better than others?

    6. From your writing style, I assume that English is your native language and that, therefore, you must be located within what used to be called the British Commonwealth, correct?

  4. #24
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    Quote Originally Posted by gambort View Post
    I live in Salt Lake City, Utah, and SS stands for Social Security.
    I appreciate your willingness to help me. I do not expect a "signals service," by which I mean, I will hunt down what I think to be proper trades and make my own decisions, but there are lots of little things that you may take for granted but that are new to me. Here are several examples:

    1. Do you use a US-based or non-US-based broker?

    2. What is the leverage ratio that you use (50:1; 100:1; 500:1; etc)?

    3. IN the USA, we are limited to 50:1 leverage. Will that make a difference in the monthly profits, all other things being the same?

    4. Do you have special software to help you spot divergences or do you do it all manually?

    5. Have you found certain brokers better than others?

    6. From your writing style, I assume that English is your native language and that, therefore, you must be located within what used to be called the British Commonwealth, correct?

    1. Do you use a US-based or non-US-based broker?

    None US broker.

    2. What is the leverage ratio that you use (50:1; 100:1; 500:1; etc)?

    400:1

    3. IN the USA, we are limited to 50:1 leverage. Will that make a difference in the monthly profits, all other things being the same?

    Well it just means it will cost you more of your margin to open a trade, thus giving you less free margin, so the more capital in your account the better (but still use the minimum lot size 0.01 until you feel comfortable

    4. Do you have special software to help you spot divergences or do you do it all manually?

    Not really MACD is all you need

    5. Have you found certain brokers better than others?

    Broker are a nightmare, but unfortunately we cannot trade without them, I am looking into getting a Islamic broker account with no swaps, then I can trade in both directions without getting hammered, but would take positive swap trades with a regular broker

    6. From your writing style, I assume that English is your native language and that, therefore, you must be located within what used to be called the British Commonwealth, correct?

    I am a true Yorkshireman and call a spade a spade, but I have lived in Australia for the past 3 years

  5. #25
    gambort
    Guest
    Quote Originally Posted by Robot Trader View Post
    Well, it just means it will cost you more of your margin to open a trade, thus giving you less free margin, so the more capital in your account the better (but still use the minimum lot size 0.01 until you feel comfortable
    If I use .01 lot to sell, I cannot use .005 lot to buy, as I understand no broker will go below .01 lot, correct?

    So, wouldn't I have to use .02 lots on the main trade and .01 lots on the hedge trade?

  6. #26
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    Quote Originally Posted by gambort View Post
    If I use .01 lot to sell, I cannot use .005 lot to buy, as I understand no broker will go below .01 lot, correct?

    So, wouldn't I have to use .02 lots on the main trade and .01 lots on the hedge trade?
    Your US broker will not allow you to edge, they also make you close your first open trade first, which means you cannot take profit from the last trades you opened within the grid should the market show divergence against you on a smaller TF which could cause a retrace before resuming the bigger move.

    Basically it seems the US government don't like you to protect your capital by edging, they would much rather you lose it all, or take a loss at an SL. I really don't believe they like the average American becoming Forex traders

  7. #27
    gambort
    Guest
    Quote Originally Posted by Robot Trader View Post
    Your US broker will not allow you to edge, . . .
    Well, that was VERY helpful, and something I had heard but had not "registered" with your style trading.
    So, if I had a a foreign friend who had a non-US account, this system could be used without any problem other than, as you intimate, the usual problems with all brokers, right?
    I know all about our govt and its insidious tricks on the People, but I live here, so must "cope" as best I can with their "rules" for our "safety and security!" LOL!

  8. #28
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    Quote Originally Posted by gambort View Post
    Well, that was VERY helpful, and something I had heard but had not "registered" with your style trading.
    So, if I had a a foreign friend who had a non-US account, this system could be used without any problem other than, as you intimate, the usual problems with all brokers, right?
    I know all about our govt and its insidious tricks on the People, but I live here, so must "cope" as best I can with their "rules" for our "safety and security!" LOL!
    Yes an offshore account in the name of someone you trust should do the trick, but to be able to spend your gains in the US your friend would also need to setup a bank account which allows you to use an ATM card from a foreign bank

  9. #29
    gambort
    Guest
    Well, I gotta "master" your system before all the other matters fall into place.
    BTW, I would be VERY interested in what you discover about Islamic brokers. As you know, we have a wannabe-Muslim for our Prez, so I guess Islam is the way to go!
    How things change, eh!

    Another question:

    If you were able to trade with an Islamic broker, how much do you estimate that would increase your monthly return?
    Last edited by gambort; 11-10-2012 at 09:14 AM. Reason: another question

  10. #30
    gambort
    Guest
    "Advanced talks on divergences – Dynamic Pressure
    "Although you can identify Dynamic Pressure (we will call it as “DP”) using simple MACD indicator, there is a better choice that exists. This is Joe DiNapoli’s MACD Predictor indicator."

    Any thoughts on this indicator (MACDP), RT?

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