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ProAct Traders™ was started when a group
of like-minded traders came together
every day to improve their trading
skills. We were a diverse group of
traders all with very different
backgrounds: an accountant, an
international business consultant, a
software engineer, a software technical
consultant, several entrepreneurs and an
insurance executive. Gone were the glory
days when you got up every morning,
bought the GBP$ and the EUR$ and sold
them several hours later, almost always
with a profit. In those days we thought
we were invincible.
As the market went sideways, our
newfound confidence began to wane.
During the first three months, we were
not aware that a fundamental change was
taking place in the market since we
would still have enough good days to
keep up in our old methodology. But soon
it became apparent… Our margin accounts
were dropping and so was our confidence.
Most traders retreat and isolate
themselves at this point, but we dug in.
We rented office space in a historic
building on Poker Alley Street (hence
the name of our trades) continuously
met. We joined every forum, we bought
every book, and we took course after
course. What we found was that everyone
had some good stuff, but no one had the
whole picture…and anyone who did, wasn’t
sharing it. We tried hedging, straddling
and all of the methods touted to bring
incredible rewards. We lost our shirts.
During this time, one trader in our
group developed a method that we could
consistently trade for 8-12 pips. We
honed this method; all of us dividing up
the currencies and when this trade
occurred on our specific currency, we
would call it out to the others and all
blindly enter, based on the call. We had
a lot of confidence in each other’s
ability to call a trade. This trade
worked about 80% of the time. The
downside was that the 20% of the time
when it did not work it negated a huge
amount of wins since our stops needed to
be fairly large. Nevertheless, it
sustained us through this period.
We needed to develop this trade so we
tried every indicator and combination of
indicators there were. We needed to try
and get this trade to give us a greater
pip capture than we were taking so that
the losses would not eat up the bulk of
the profits.
The good news was that with group
effort, we could statistically make
enough trades in a short amount of time
so that we could quickly decide whether
this indicator or indicator setting
would give us the information we needed.
After several months and some dedicated
tweaking, we were able to find a
combination of indicators with very
proprietary settings that would enable
those with smaller margins and less
ability to sustain draw downs to see the
market and its movements. We could now
stay out of a larger percent of trades
that didn’t work and we could increase
our pip capture. As a result, our margin
accounts began to recover. As we honed
this trade, other setups began to be
evident that were confirmable, were
programmable and produced statistically
high success rates.
After thousands of hours and countless
sleepless nights trading the London
Market and a huge amount of money in
development, we now had a workable
model. As our margins increased more of
our trader friends wanted to know how we
were able to be so successful in a
market that was not trending well (at
least not like the glory days). We
wanted to help them but to take our
system out on the web would require some
serious programming. We hired a software
engineer in the charting business and
began developing the charts to show this
proprietary setup. Once we had our first
beta copy, we invited 15 of our trading
buddies from around the world to beta
test this with us. After three months,
it was time to start recovering our
investment. We announced that we would
need to charge for our data feed,
templates etc.. Not one of our traders
balked and gladly wrote checks. We
started as a Forex Trading Club, but as
word got out we ended up in business.
We do not tell you how to trade - you
must interpret that based on the harmony
of our indicators. To make it simple,
everything is color coded - Red for down
and Green for up. We have two online
training meetings a week as well as an
active chat room where new and seasoned
traders gather to watch our charting and
help each other. Every day, our traders
tell someone and we are growing very
fast. We’d love to have you join us.
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