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  • #901
  • Apr 3, 2010 11:05am Apr 3, 2010 11:05am
Quoting Syxf
Thanks man,...
Come on...if you worked for institutions you know what I'm talking about .

When I retired and started lurking among retailers I was amazed on how people want so bad to know what E/U will do the next 5 or 15 minutes....and one year and some later it amazes me even more....I can't get used to it

I used to trade USD/CHF before but since the Euro institution I trade EUR/USD exclusively. I have a smaller account with a broker where I trade anything from 1 to 3 times per week just to keep in touch with the market, my main account is dealt directly with banks (divided between 2 banks.)

On my brokers account I aim for the 150 plus pips moves. I can catch at least one of this moves per week, usually two.

Would I like to have 20 pips spread? Of course not.

If the brokers raise their spread, will it make a difference the way I trade?

No.

On my main account 100 pips spread would not impact me in a significant way
  • #902
  • Apr 3, 2010 11:18am Apr 3, 2010 11:18am
Quoting LaughingDicK
Intraday swing trading would still be a gamble?

You mean "intrasession" ?

The "intraday" concept does not make any sense in Forex, all daily bars are relative....got it?!
  • #903
  • Apr 3, 2010 11:58am Apr 3, 2010 11:58am
Quoting Platypus
You mean "intrasession" ?
Yes, day trading swing moves.

Quoting Platypus
The "intraday" concept does not make any sense in Forex, all daily bars are relative....got it?!
You mean that there isn't an exchange for forex and every market maker can have different daily candles? Or that the forex market doesn't close daily like the stocks market?
  • #904
  • Apr 3, 2010 12:01pm Apr 3, 2010 12:01pm
what he means is there is really no intraday concept in fx as there are really 3 sessions sort of

Quoting LaughingDicK
Yes, day trading swing moves.



You mean that there isn't an exchange for forex and every market maker can have different daily candles?
Its all in the mind.
  • #905
  • Apr 4, 2010 11:24pm Apr 4, 2010 11:24pm
[quote=Platypus;3607085]Come on...if you worked for institutions you know what I'm talking about .

Well, only was broking options, not trading the underlying market, and it wasn't that long. I focus on the E/U as well. I really don't care where it will be in an hour, a day, or a month, only that I am with the trend and what I have found is that to do so effectively absolutely requires attention to every minute of the day; in order to get a good entry, it comes down to the minute...
  • #906
  • Apr 5, 2010 5:49am Apr 5, 2010 5:49am
this has happened to me twice in the last week and I am a longer term trader - trade off of dailies.

Got stopped out of one trade even though it was clear on the chart that price, minus the spread never hit my SL and just yesterday I got dragged into a trade even though price never hit my buy stop. It is annoying to say the least.

then there is also the question of "does every trader on the same broker see the same spreads at the same time or can spreads be 'individulaized' if you know what I mean"


Quoting sloanman
Anyone who trades is effected by the spread. Long term traders less so than scalpers but it most definitely matters either way.

Do you use stops? If you do your stops are effected by the spread. If your stop loss gets hit or your take profit misses because the spread was wider with one broker over another you will see how much it matters. One trade is all it takes for this to hit you.

I would say that there is nothing more important than the spread when choosing a broker. I am not a scalper but I do swing trade. The spread matters....
  • #907
  • Apr 5, 2010 10:48am Apr 5, 2010 10:48am
Quoting razorboy
this has happened to me twice in the last week and I am a longer term trader - trade off of dailies.

Got stopped out of one trade even though it was clear on the chart that price, minus the spread never hit my SL and just yesterday I got dragged into a trade even though price never hit my buy stop. It is annoying to say the least.

then there is also the question of "does every trader on the same broker see the same spreads at the same time or can spreads be 'individulaized' if you know what I mean"
Sometimes the bigger timeframe charts aren't very good to see if the price really hit our stops or targets you need to check out the more accurate smaller timeframes.

How big was your stop?

Will brokers stop hunt you if you have a 200 pips protective stop?
  • #908
  • Apr 5, 2010 12:47pm Apr 5, 2010 12:47pm
Quoting razorboy
this has happened to me twice in the last week and I am a longer term trader - trade off of dailies.

Got stopped out of one trade even though it was clear on the chart that price, minus the spread never hit my SL and just yesterday I got dragged into a trade even though price never hit my buy stop. It is annoying to say the least.

then there is also the question of "does every trader on the same broker see the same spreads at the same time or can spreads be 'individulaized' if you know what I mean"
Please make sure to check the relevant bid/ask chart to see if your buy stop or stop loss price was reached. At the top of the FX Trading Station II, there are two buttons which allow you to toggle between viewing the Bid and Ask. The button with the B will display the Bid (sell) prices, and the button with the A will display the Ask (buy) prices. I have circled the location of the buttons in the image below:

http://img243.imageshack.us/img243/4613/bidaskw.jpg


If you need any help, please feel free to message me with the trade details and I can review it with you.

-Jason
  • #909
  • Apr 5, 2010 1:07pm Apr 5, 2010 1:07pm
Jason, are you having trouble with the micro platform ?. I can't log in. Also can't access the "status" web site.
  • #910
  • Apr 5, 2010 1:13pm Apr 5, 2010 1:13pm
Quoting Four Kids
Jason, are you having trouble with the micro platform ?. I can't log in. Also can't access the "status" web site.
I checked and everything is up and running at the moment. Was able to login to a live micro account and FXStatus.com page is accessible. I also checked with the micro team, and they confirmed no tech issues occurring at the moment. Are you getting any particular error message when trying to login?
  • #911
  • Apr 5, 2010 1:17pm Apr 5, 2010 1:17pm
Yes. "error details not available".

Thanks for the quick response.

Problem obviously at my end.
  • #912
  • Apr 5, 2010 1:31pm Apr 5, 2010 1:31pm
Quoting Four Kids
Yes. "error details not available".

Thanks for the quick response.

Problem obviously at my end.
Just sent you a PM about troubleshooting. Please check the message.
  • #913
  • Apr 5, 2010 2:07pm Apr 5, 2010 2:07pm
Cheers, got in touch with them, all sorted, problem was at my end.
  • #914
  • Apr 5, 2010 2:57pm Apr 5, 2010 2:57pm
Quoting Platypus
Come on...if you worked for institutions you know what I'm talking about .

When I retired and started lurking among retailers I was amazed on how people want so bad to know what E/U will do the next 5 or 15 minutes....and one year and some later it amazes me even more....I can't get used to it

I used to trade USD/CHF before but since the Euro institution I trade EUR/USD exclusively. I have a smaller account with a broker where I trade anything from 1 to 3 times per week just to keep in touch with the market, my main account is...


I hear what you're saying. It seems to me like a lot retailers trade the equivalent of driving a car with binoculars on, staring 1 inch in front of the bumper. There are definitely traders who can make it work but it's more stressful than I care to deal with.

Seems like people don't realize that the FX markets move with purpose. Looking at a 1 minute chart is looking at volatility, or noise. Although volatility does move in cycles too, which is why it can be traded successfully.

Looking for bigger moves is much more efficient in my opinion, as long as you can assume the risk necessary.

Go with the flow. I've found that the flow is easier to see when shifting between Month Week and day charts.


Of course I prefer the lowest spread possible, but it's not a primary concern of mine when trading.
  • #915
  • Apr 6, 2010 7:46pm Apr 6, 2010 7:46pm
[quote=madmatz;3610744]I hear what you're saying. It seems to me like a lot retailers trade the equivalent of driving a car with binoculars on, staring 1 inch in front of the bumper. There are definitely traders who can make it work but it's more stressful than I care to deal with.


I look at charts of less than two minutes and I really don't see the difference in noise between a daily and a minute chart. If you put them side by side and removed the details as if you would be able to tell them apart. When I was broking options the average trade size was 100MM, most of it long dated, a lot of vol flying around on those timeframes. The only difference that I have seen between trading a daily or two mintue chart is the amount of leverage that can be deployed and the amount of time you have to go without without blinking. You can achieve the same thing looking at 72 one hour bars and do it better looking at 2160 two minute bars... when the markets move they move fast, as if I have time to wait for an hourly bar to form as a trader. I am willing to say that if you went down to the floor of the CME you wouldn't find anybody looking at daily charts... seriously.. When your model is as accuarate as mine is there isn't really a difference in the real risk between long term trading and short term. I must say I am amused by the so many self proclaimed experts professing what is and what is not possible to do in trading. I haven't looked at a chart larger than two mintues in months, and I'm not stressed, trying to have fun, though my eyes do water too much, there is one big difference, the amount of work involved....
  • #916
  • Apr 6, 2010 7:48pm Apr 6, 2010 7:48pm
Seems like people don't realize that the FX markets move with purpose.

And this is how I know you are the king of the bucket shops.... this is funny... If how cross-eyed drunk an options market maker is staring at his vega is purpose, you could be right, but you are not....
  • #917
  • Apr 7, 2010 6:27am Apr 7, 2010 6:27am
I day trade equities with direct market access and trade FX long term from home. At the end of the day, regardless of time frame, you either know how to trade or you dont. Time frame is irrelevant or at least a secondary consideration. There is no right or wrong..........just can and can't

Pit trader methods are typically very simple and fast- regardless of the instrument that is being traded. Simple things like break of high or low of day or a variety of opening gap plays. However, without a basic knowledge of some of these concepts, short term retail traders may have a few challenges a long the way.......

[quote=Syxf;3614370]
Quoting madmatz
I hear what you're saying. It seems to me like a lot retailers trade the equivalent of driving a car with binoculars on, staring 1 inch in front of the bumper. There are definitely traders who can make it work but it's more stressful than I care to deal with....
  • #918
  • Apr 8, 2010 9:30am Apr 8, 2010 9:30am
A platform update is scheduled for the FX Trading Station II this weekend and the most noticeable change you will see is with the charting. Here's a preview of some of the additional features to look for:

1. Heiken Ashi and Fractals

http://img269.imageshack.us/img269/5...hifractals.jpg



2. ZigZag

http://img386.imageshack.us/img386/4438/zigzag.jpg



3. Improved Pivot Point Indicator: You can now set the candle period for the pivot independent of the chart time frame you are viewing. In other words you can base the pivot point off of the daily candle while looking at the 5 minute chart. Previously, the pivot was based off of the candle period of the chart period you were viewing. Also, the pivot point will now be located in the indicators list rather than as an icon in the icon menu at the top of the chart.

http://img168.imageshack.us/img168/4029/pivotpoints.jpg



4. Chart Signals: Basic feature (for now) added to the charts. You can have a signal plotted onto the chart for basic indicator signals uses such as moving average crosses, RSI oversold/overbought levels, etc.

http://img245.imageshack.us/img245/9...ragesignal.jpg



5. Charts in the Market Order window: View a 5 minute chart of the currency pair you are about to trade

http://img243.imageshack.us/img243/2...orderchart.jpg



And more which I will share on Monday...

Please feel free to post any feedback on Sunday after you've had some time to play around with it.

-Jason
  • #919
  • Apr 8, 2010 10:17am Apr 8, 2010 10:17am
There is no right or wrong..........just can and can't

and some day's are worse than others.... when a model fails it can really drive you insane...
  • #920
  • Apr 8, 2010 10:30am Apr 8, 2010 10:30am
Quoting Jason Rogers
http://mukasurat.com/CS/images/3.gifA platform update is scheduled for the FX Trading Station II this weekend and the most noticeable change you will see is with the charting....
isn't this fxcm micro's platform?
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