The Footy Trader

How to trade on football markets on a betting exchange

Browsing Posts published in February, 2007

Wizardcast 25

No comments
Play

144×144 logo

A few thoughts on the differences between Freedom Rocks and Forex for Smarties. All in a podcast that you can download and listen too.

It will be available in iTunes or you can click the link here and watch it in your browser. You are using Firefox and not that crappy Internet Exploder aren’t you. You may need a plug in too but in any case if you get Firefox and dump IE whatever version, you will be doing your computer a favour and saving yourself the time that you waste getting rid of viruses and spyware that IE is so good at collecting for you.

In the podcast I also mention the Bet IE software, and its new learning mode. Lets you try things out without you having to put any actual cash on the table. Have a look at the Bet IE page and see what I mean. Check out the videos…..

Here is  Wizardcast 24 for you where I show you how to get started with Forex Trading.

I recommend that you get a demo account and get used to trading with monopoly money until you know what you are doing.

In this I show you how to get a demo account with UGMFX.com and how to get started with the robot available with Forex For Smarties.

There has been a change to the installation process of the robot since  I made the Wizardcast and all it is is that the robot has an installer now. Maybe it puts the file in the right place for you. Due to that fact that you have to install the robot per account you may need to look at it manually anyway.

The background music in the main part of the video is from the Pod safe network and the Artist is a guitarist called Alan Renkl
I encourage you to visit his website and see what other music he makes. I liked the guitar work in this tune called Lemonade.

Remember that there is risk involved with Forex trading and I am only showing you how and not actually giving financial advice. It is up to you what you do with the information in the Wizardcast, or on the Wizardgold Website. On the Wizardgold Website I will be selling higher resolution versions of the video also, for a nominal fee.

The 2 curreny pairs that I have been trading on my live account have been heading south all day long. Any further in that direction and it will be residing with the penguins in Antartica.

Caution is the name of the game

I took the step of closing 2 trades and losing money on them because minus figure in the profit colum in the MetaTrader software was getting so big and the margin was getting uncomfortably small. The profit figure right now is minus $780 and that is after moving those 2 trades. I will check it in the morning and see how it looks and there is another trade I could take off , again at a loss and maybe even make the initial trades smaller by selling off , to stave off the possibility of a margin call.

If I had cash I would send in more to the broker and leave the trades that are there alone and just wait it out. It will surely come back but who knows how long and if the margin call takes all my money then I would have nothing to come back with. Caution is the name of the game this evening.

I do have 60 dollars in interest there which is a good thing or the profit figure would be worse. It is going to take a long long time for the market to rebound from this one.

So I will be keeping my fingers crossed and hoping for the best.

Photography

fotolia button

In mean time I am working away at building up my portfolio at Fotolia. I always did like photograhy and during the last couple of days I have been taking lots of photos to upload for sale on the Fotolia site. If any of you readers are budding photographers why not give it a go yourself. You don’t even have to have the best of cameras to be able to produce good picture either. I am getting some good ones from a 4.1 mega pixel Sony snapshot camera.

Sure it would be great o have the control and the higher resolution of something like the Nikon D50 or D70, although I prefer the look of the Canon EOS400D myself. It has a much clearer view inthe viewfinder. Very useful on the very sunny days and you can’t see the picture in the lcd panel too well.

fotolia button

Oh boy did the Pound Sterling GBP take a crash dive today. I was lucky to have cleared up a mistake I had made with putting in a trade about 10 mins earlier than when the dive occurred. If I had not sorted out the problem I would surely seen a margin call. I put in 1 on a trade when I meant to put in 0.10.  I came out of that with a $2 loss but I was counting my blessings for not having sucumbed to the possiblity of losing a pile of money.

You can read more about it at The Wizardgold Forex Trading Site. become a member and you will be able to see the daily reports for the account I am running live now.

144×144 logo

Here is the latest video podcast from Wizardgold . You can see how to set up the meta trader broker platform with the information you get from Forex for Smarties. See me do it step by step.

More videos to come to show what to do after it has been set up and you are monitoring the account. What to do if a buy limit order is hit or a sell limit order. How to deal with a profit figure in the trader. How much profit to aim for and then what to do next. Learn how to install the close all script so that you can close all trades really quick so you don’t miss out on any profit.

If you want the full resolution version of the video it available for sale
You can pay with PayPal €3.95 – Well It will be when I can get PayPal to play nice


I have a few demo accounts running still even though I have the live account now, this is because I want to see how far I can take the 10k demo account that I started with on December the 1st last year. Also I am testing different systems. I am looking at Freedom Rocks and also Forex For Smarties.Freedom Rocks is great for its simplicity but you need to be in the right group to get the best from it as a trader.

The beauty of the FR system though is its simplicity

For example Lindy’s group which I was lucky enough to hook on to is excellent because Lindy is a trader and not someone just trying to make the money from the mlm side of things. The FR site as a whole focuses more on the MLM than it does with the trading I think. The beauty of the FR system though is its simplicity, everybody and his granny could run it.

Read More

The analyst reckons that the iPhone will get better by adding 3G support and maybe higher and lower model versions to suit different prices points. The phone companies could even be offering discounts on the phone services to entice even more people to the iPhone.
Put it simply – I want one….!!!

read more | digg story