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http://automatedmt4indicators.com/5k-usd-to-1-million-usd-on-a-live-account/
https://www.fxblue.com/users/fastmillion/
Last week we published a video showing $ 5000 being turned into $ 1 Mil in a number of hours.
This video has gone viral in a Forex Trading sense recording over 18 000 views with a few days of publication. Please do not go any further unless you have watched this video. https://youtu.be/dbojJUdyNVA
We have received thousands of email enquiries and comments as result of this video.
The method to increase $ 5 000 into $1 Mil a very powerful EA and was traded on a Demo account. The EA used, (I am going to call it the Million Dollar Trader EA for ease of reference) coupled with specific broker accounts makes this possible.
Furthermore, this Million Dollar Trader EA can be accelerated and showed down considerably by changing some of the EA settings. Evidence of the is the current competition Forex trading leader who have used a much slower and conservative approach to get into the lead. It can be slowed down even further than shown in the competition. https://www.fxblue.com/competitions/ViewCompetition.aspx?id=725&rx=1498392122583
Obsticals
So Now, Step 2:
The big opportunity is to make this method work in live trading on a commercial basis.
You do however need to know the risks involved before we move on:-
Please note that the Risks discussed below only refer to HIGH VOLUME RAPID SCALPING methods using small targets and stops. As the size of targets and stops increase the impact of these risks reduce dramatically and swing traders with larger targets and stops do not have huge exposure to these limitations.
So the first answer is – why not just increase the stops and the targets. The focus will however be on the scalping method as it almost gives a trader 100% control over earnings. The swing trading method has the same limitations any good EA has. Exposure to a changing Forex market and drawdowns and the lack of short term control.
By short term control we mean that when testing the scalping EA it has never had a drawdown in any hour of the day. You can see one example of this in this account. It is that short term control that we want to harness on a live account.
There are General Online Forex trading reasons. Forex trading results can be impacted by internet speeds, your own computer speed, the quality of your connections, the delay of reaching your broker server etc. In general, testing the Million Dollar trader on demo accounts and the short term control principle confirms low exposure to these risks.
Broker specific reasons.
Now it is well-known that the result achieved on a live account differ from a demo account.
The first reason is varying spreads. The custom now is for Brokers to widen spreads when they do not want traders to trade – like when important announcements are made. This is easily resolved by using a broker with fixed spreads.
The next reason are large spreads. This again is easy to resolve by using a fixed spread broker with low fixed spreads.
The next reason is price manipulation: On an exceptional basis certain brokers can cause a spike in prices which could cause considerable damage to a single transaction. Some predictably clean stops and targets before a trading session. This is a risk that cannot be fully managed
The next reason is broker trader intervention: This is where the broker specifically targets a trader and uses techniques such as spikes, slow transaction speeds, slippage, EA signal failure etc. etc. to mess with traders trading. These techniques can result in a blown account within a very short time when using scalping techniques.
Technically the broker must offset any deal created by a client back into the Forex Market so as not to incur a risk. So the Broker must fill your order only once the broker can have its order filled by the liquidity providers. The speed of scalping complicates this process considerably. This filling of order process does not have to happen with demo accounts. One of the biggest reason why demo accounts do not mirror live accounts.
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