Theo Patsios said
The ZTM is very cool yes.. the EFX programmer always amazes me with what is possible because I am no programmer. We continue to work on the tools and improve them... last step is full automation... probably the biggest challenge ever!

 

i have to agree, even the layers indicator you are giving away with the free package is pretty amazing at giving the market structure and helping to see the boundaries, in terms of good take profit levels. also nice the way the black layer makes the patterns stick out. 

full automation eh? a big challenge indeed i would imagine, but maybe with your strict rules and rinse and repeat method it can be done? will sure be interesting to see how this project develops.

 

while looking for videos i didnt see yet i noticed i was picking up much more from ones i had already watched. so yeah, even just the free information you have made available, is taking me a while to absorb to the point where i don't have to think about it when trading. 

Rob S said

WeeMee said
ok thats good to know, i actually just realized yesterday that there are a bunch of videos i didnt watch yet, some how i missed that there was more then 1 page worth of videos. started watching from the oldest one yesterday.

 

i love that zone order ea you have working in the newer videos, looks very useful. really cool how you managed to program it to recognize your entry signals. so you only have to tell it where to enter and what direction. no waiting hours for the right entry trigger to happen or not.

Hey WeeMee:

Pipster1 from FF here. I see you made your way from Forex Factory to EFX.   

FF is entertaining, but a little noisy at times.

Would love to see you in the live room someday for the market outlook.

I can't make the Market open Live room much anymore.  that is a 4:30 AM wakeup for me here in Brazil, plus time is changing next week so will be even earlier.

Cheers and welcome!

Rob

Hi Rob,

nice to hear from you on this site, i can not thank you enough for pointing me at elecrofx.com. i think you have saved me from going about things the wrong way. you realism about the task of becoming a profitable trader saved me from investigating all the scams i been getting in my emails about making a million tomorrow. it was like a click in my head, of course this won't be easy, else everyone would be doing it. so yeah much as i want to jump in, i want to avoid blowing too much real cash on my journey to becoming a profitable trader. so yeah am forcing myself to stick with demo trading. maybe take a trade here and there that just screams to be taken, but for the rest trade demo at least a few months more. 

 

but yes once i feel i have absorbed all the knowledge that is available to read and watch, the next step will be getting live room access. i don't want to rush my education and end up going off half cocked as they say.

 

forexfactory seems to have the weakness that the loudest are not necessarily the best traders, but it's at least more serious then the trading view chat, lol. the ones on FF that know their stuff won't make more then a few posts here and there, so it seems one has to find the gems amongst the acorns. here you have a complete learning plan, without all the silliness and ego trips in between the pearls wisdom.

 

hope you guys have a great trading week.

sorry for all the questions, but it might help someone else in future too.

 

i don't see gold on my meta trader, in fact i only have currency pairs available, is that to do with the broker that i got the meta trader from? i would like to be able to trade gold and oil too ideally.

 

btw, my account manager has gotten my account to 24% plus, so far his trades have been pretty straight forward and all but 1 made targets fast, last gold trade took over night, lets hope todays gold buy turns out well also, big draw down right now.

Theo Patsios said
depends on your broker if they give you gold and oil or not.

Don't forget that gold is also known as XAUUSD
and oil is WTI or BRENT

You may need to right click in your market watch window and select "show all" also

As for the tools I haven't used or tested the free versions for a very long time,
for this reason the more advanced tools are probably easier to use due to constant use, updates, and video tutorials.
I hope the free tools still work though, I will check them again when I think about it tomorrow.

 

Gold has potential to turn here but I do not yet have an entry trigger formed like with the last Gold buy you mentioned before,
your account manager will have a different method than me though and it sounds like he know what he is doing.

thanks for your time Theo,

 

the free tools do all work, i still some times have trouble moving the tp, it's strange it will do as described above and then if i do something else and then try again it will work immediately. the broker is Forex.com and the account is only valid for a month. not liking them so much, i only tried them initially to test the autochartist. their demo server seems to be slow too, some times it takes 30 seconds or more for an order to go through. so your tools might not be the issue.

i did see, there is another ea available that has the lock profit line too. i need to research a broker that will allow me to run a demo account with meta trader for longer then 1 month.

made a nice trade selling eu yestrady using your supply and demand zone indicator and the layers to take the trade and it worked out perfectly at 1 to 2 risk reward.

 

if i had been around when the alert told me it entered another trade i could have reduced the stop loss, which ended up getting hit at 100 pips on another pair, before i could get to the computer and manage the trade. will have to make sure i don't do that in future, if i can't be there relatively quick after an alert to manage a trade and set the tp and sl i will remove the pending order in future.

 

have a great weekend

 

WM

Theo Patsios said
Hi WM,

I totally missed the 1000th free member here at EFX and I wanted to give out a 33% discount to that person, since we are already at 1082 members right now I am giving out 5 discounts off of even the pre price hike figure that is currently online. If this interests you then let me know and I will make sure you get the 199.99 price instead of 299.99. Next month I will be increasing the cost to 399.99 as soon as I finish what is basically now a 100 video VIP course re-created from scratch for 2015.

As enticing as this might sound I don't want you to feel pressured to join, if you are not ready to upgrade then please don't do it just for the offer. This is simply something I wanted to do once I hit 1000 members and since you have been very active, and vocal here in the forum, I wanted to make sure you got first dibs on the offer.

All the best,
Theo

 

thats a really good offer, i will email you regarding this. i do want to profit from the price before it goes up.

 

just to update you guys, i finally got the harsh lesson i was asking for. after growing my account by nearly 50%, my account managers trades finally lost, not just once either, 3 losing trades were enough to blow the account with his stupid professionals dont use stop loss, lol. he's like telling me thats his job to watch for when we have to close the trades, he made me such amazing promises, that i wanted them to be true and believed him, when all he was doing was trying to get my account up fast to increase his commissions i guess. after telling me how we never use more then 1% of the account he is telling me to open much bigger positions, it worked a few times, but yeah, the adventure of letting someone else make my trading decisions is now finally over.

 

the biggest joke is that i'm not doing bad on my demo accounts recently. using everything i have learned, i'm starting to see when a trade is worth considering and when not. just a shame i didnt insist on sticking to 1% with my real account. anyway i don't want to harp on it, should have would have, will not change things. i just have to make sure that i treat it as a lesson. 

 

so yeah, i really should continue my education, there is no other way forward and even if i'm doing ok right now, it hasn't been long enough to feel secure in my trading know how. i am noticing that i'm getting quite good at spotting trades with a 1 to 1 risk reward, some times a bit more, but if i try to go for 1 to 3 risk reward or so, it tends not to work out very often. but either way, i still have much to learn and i seriously think this method you teach is something that could work for me. i never want to trade without a stop loss again, lol. 

 

he was telling me he will help me make 1.5 to 3 k income from a 10k account every month. after seeing him winn quite a bit quite fast, i thought maybe this is the chance of a life time, lol. even though the voice in the back of my head was saying this sounds too good to be true, cause i wanted it to be true i thought lets risk the 500 dollar account and see what happens, just on the point where i was seriously thinking of adding a bigger amount it all went haywire. after seeing a draw down of 200 bucks or so i get an email saying i will never let you down lol, anyway it's highly embarrassing to tell this story, but i want future readers to know, unless you are already rich and can let trades run against you into the thousands don't let anyone tell you to trade without a stop loss. 

 

i think he genuinely wanted to make my account grow, but as he earns commissions, the trades only become worth it if they are decent size. so he was rushing to build it, first gold trade had a tp that was just too high, after that one was in draw down he's saying we have to average it out with another position, then when that one also went to hell, with both in draw down, he panicked and wanted to make a quick buck on a gbpusd sell to increase equity and what happened it went up over 100 pips, lol. 

 

damn i'm pissed at myself about not just following the general rule that has kept me safe in life, if it sounds too good to be true, then it generally is. i wanted to educate myself anyway, so going vip is a good logical next step.

 

i guess i'll just have to write this off as my first blown account, i just wish i'd been the one to blow it lol could have learned a lot more over time with small trades. anyway i hope anyone reading this will not let themselves be talked into doing what i've been doing with my first real account. specially not when the trade suggestions involve not having a stop loss.

 

had i just stuck with the first trade i could have waited for the gold to come back up, but with his attempts to save the situation he just sped up the meltdown. so yeah, there are no short cuts out there it seems, lol.

Theo Patsios said
Thank you for sharing that, I hope others understand how generous of you that was!

I am not surprised but I am in shock that a professional told you not to use a Stop Loss, and he also wants you to add to losing positions. I knew your last Gold trade would be disappointing to you because you had mentioned buy and I had just seen the downtrend re-confirm itself for another leg, which is why I mentioned a buy had not triggered yet.

This no Stop Loss, adding positions mentality may be something that all traders go through I believe, because it does work a lot, until it doesn't. Unfortunately when it doesn't it kills you! The real point here is that this is an amateur stage of learning to go through so I wonder how old and/or experienced this guy was, or if he even trades! Anyway, lesson learned and don't be too hard on yourself, everyone has to blow up their first account one way or another to have it hurt and a realization that you don't want that to happen again set in.

Like you say; there are no short cuts with this one.

Thanks again for sharing.

 

the only reason i shared this highly embarrassing situation is to save others potentially from falling for the same game.

 

basically i got scammed, a clever scam and even legal, but in a way it was still a scam. of course  i should have known better. as i say the beginnings got some nice results and i was seriously considering putting 5k in. so in a way this happening now, has saved me from probably losing the 5k.

his reaction was oh we won't trade like that with the 5 k, i had to smile when i realized he was still hoping i'd do it. 

 

i even found another post on another forum where some one had a similar experience with the same broker. big promises, some success, then bam, busted account. they give you all the lines about the porche sitting outside, the special contacts in the elite financial world and special info from bank and hedge fund order books. he really was pretty much guaranteeing profitability. he was telling me how if i did it on my own i'd be 1 of the 90% who lose at this and he would make me in to one of the winning 10% of traders, using his 17 years of trading experience, he kept saying non of his clients lose in the long run. when i tell it all here like this, i feel like a complete idiot, how i ever believed all this stuff when it's plastered all over the platform how risky it is. i knew he'd get it wrong once in a while, but never thought he just wouldn't react even to the point of letting the account get blown without even calling me when it was down to the last 200 or so lol.

anyway, i can't wait to get started exploring the vip section, got to get this upgrade sorted asap now. should have done this from the start. need to really dedicate myself to learning, only demo accounts for me for now. i actually got oil, gold and other products on my meta trader now too, the broker where i got the meta trader called up and helped me set things up so i can use both platforms to demo trade. they do have some nice functions where you can look up the pivot points quickly and easily and get some basic support and resistance data, plus the autochartist has a pattern recognition ability so it searches them out. mind you hasn't really helped much so far, lol. 

from all the platforms i've tested, i do love the meta trader with your template on the charts. 

 

another long post, i only wanted to say a few words in response,

 

would it be ok to ask what kind of a percentage per month on average your best students or yourself can make? i am trying to figure out what is a realistic aim.

yeah, that makes sense. 

 

if all goes as normal, i'll be upgrading membership by Monday or Tuesday. can't wait.

 

one question i do have is, whats the best use of my time for this project of learning to become a profitable trader; should i finish all the courses in the baby pips school first? or should i spend as much time as possible demo trading? or am i best off just focusing on this sites info for using these methods you teach?

 

how much do i need to know about eliot waves, or harmonic patterns if i plan to trade with your price action based method?