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  • #338,801
  • Dec 3, 2010 9:41am Dec 3, 2010 9:41am
Hi Mr Fazpips,

I'm very new to forex. Juz to check wif u. Do u mean that EUR/USD will hit 1.3400?

Pls advice.

Thks!!!!


Quoting Fazpips
Great job. I am still holding to my longs to EUR/USD. Seeing some algos moving towards 1.3400 and there are Sell Orders at 1.3420. Huge VOLUME of orders. Do take note yeah.

Cheers!
  • #338,802
  • Dec 3, 2010 9:43am Dec 3, 2010 9:43am
Quoting torontobboy2
FXCM had the spreads to 27 pips during NFP release.
I could not scalp. I was 27+ pips in profit by looking at the price, but the actual profit in $ was showing at $1.00

I looked at the spreads, and 27 PIPS for EUR/USD, EUR/CHF

This is so bad.

i spoke to a guy who used to work for FXCM and left becuase of their "unethical behaviour"

if your from UK i can recommend a broker that does not increase its spread 1 pip during any news release and spread on E/U is 1 pip......always.
  • #338,803
  • Dec 3, 2010 9:46am Dec 3, 2010 9:46am
Quoting red2010
i spoke to a guy who used to work for FXCM and left becuase of their "unethical behaviour"

if your from UK i can recommend a broker that does not increase its spread 1 pip during any news release and spread on E/U is 1 pip......always.
Spread is not all, other things might affect your trade, such as increased execution time.
  • #338,804
  • Dec 3, 2010 9:46am Dec 3, 2010 9:46am
Quoting aiyoyo
@Cloggie, Thanks. That's a very informative reply. I do like your method a lot, as enter right at the confirmation/reject right near the S/R level really give high R/R.

Clearly I can't see as sharp about the acceptance/ rejection of a level, but the nature of trading at near s/r level give really high r/r, together with proper MM still really benefit me. You inspire me. Some direction for me to improve toward.

Not sure how to define the range earlier yet. But to make it simple i just use range of fixed 30pips and at round number x.xx00

Finding ranges is crucial for success in this business, any muppet can find a trend, but where does it start from and where does it end gives you the really good trades.

Once you get the hand of finding the ranges and trading the breaks, you can then move on to actually trading the bottom of one range to the top of the next one in case of longs and vice versa in case of shorts, that will increase your r/r significantly.

I constantly look for ranges within ranges, ie lower TF ranges that are tradeable while the larger TF is stuck in one.

There is only one answer to getting good in this and that is time, loads of it.
  • #338,805
  • Dec 3, 2010 9:46am Dec 3, 2010 9:46am
Quoting red2010
i spoke to a guy who used to work for FXCM and left becuase of their "unethical behaviour"

if your from UK i can recommend a broker that does not increase its spread 1 pip during any news release and spread on E/U is 1 pip......always.
I trade the news sometimes but only if I'm already in a trade and well away from sl and entry. Check out www.tradefair.com
  • #338,806
  • Dec 3, 2010 9:47am Dec 3, 2010 9:47am
Quoting red2010
if your from UK i can recommend a broker that does not increase its spread 1 pip during any news release and spread on E/U is 1 pip......always.

That kind of broker should be the last one you would want, a guaranteed spread and guaranteed fill during news means you get ripped of double that during normal trading.

Find yourself a commision broker, they are interested in your volume and make their money based on that and you will get better prices and better fills, ignore the fixed spread ones.
  • #338,807
  • Dec 3, 2010 9:49am Dec 3, 2010 9:49am
Quoting cloggie
That kind of broker should be the last one you would want, a guaranteed spread and guaranteed fill during news means you get ripped of double that during normal trading.

Find yourself a commision broker, they are interested in your volume and make their money based on that and you will get better prices and better fills, ignore the fixed spread ones.
Not being a smart-ass, asking serious question. If they are good during the news but rip you off during normal hours. Why not just use them for news trading/scalping?
  • #338,808
  • Dec 3, 2010 9:50am Dec 3, 2010 9:50am
Quoting cloggie
Finding ranges is crucial for success in this business, any muppet can find a trend, but where does it start from and where does it end gives you the really good trades.

Once you get the hand of finding the ranges and trading the breaks, you can then move on to actually trading the bottom of one range to the top of the next one in case of longs and vice versa in case of shorts, that will increase your r/r significantly.

I constantly look for ranges within ranges, ie lower TF ranges that are tradeable while the larger TF is stuck in one.

There...
you mean still L? about 1.34?
  • #338,809
  • Dec 3, 2010 9:50am Dec 3, 2010 9:50am
Markets all f* up.. ECB and FED money printing machines responsible for

that.. Look, no jobs still ,

almost 10% unemployment (official) and OIL pushing

90$/b.. DOW should be -300 points right now, instead nobody give a sh*t

about jobs nor economy. Endless rally.. Everyone is on drugs..

How about reality check?
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #338,810
  • Dec 3, 2010 9:51am Dec 3, 2010 9:51am
Quoting mikej2010
Not being a smart-ass, asking serious question. If they are good during the news but rip you off during normal hours. Why not just use them for news trading/scalping?

Because in an uptrend they quote you a higher price then interbanks and will fill you higher again and vice versa in a down trend.

Brokers are there to take your money, everyone of them and will do anything to increase their profits.
  • #338,811
  • Dec 3, 2010 9:52am Dec 3, 2010 9:52am
Quoting cloggie
That kind of broker should be the last one you would want, a guaranteed spread and guaranteed fill during news means you get ripped of double that during normal trading.

Find yourself a commision broker, they are interested in your volume and make their money based on that and you will get better prices and better fills, ignore the fixed spread ones.
i understand

but i dont trade the news anyway so it doesnt really effect me, just thought id try and help the guy becuase a 27 spread is abit big.

i use a spreadbetting firm to trade E/U they seem ok so far, excecution is pretty good. maybe if i become more successful in trading i will switch to a commision broker....i heard duksacopy are meant to be quite good?....
  • #338,812
  • Dec 3, 2010 9:53am Dec 3, 2010 9:53am
Quoting sharteel
Hi,

I'm back and I love it when a plan comes together!

The gaph posted last week.

more 80pips

Hi, i am back and goals are closed.

I have posted some goals before.

And after ? Don't know but the dollar will deprecated if we look the long trend.

Happy Christmas.
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  • #338,813
  • Dec 3, 2010 9:56am Dec 3, 2010 9:56am
make or break time.
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  • #338,814
  • Dec 3, 2010 9:56am Dec 3, 2010 9:56am
Quoting gatorinla
oh well.. Murry 3305.. .. daily r3 3307 currently above daily r2 @ 3222.
in the retrace sequence i have.. 3221.5 3281 3329 3377.6
we have confluence atm with the red numbers.
the tl from 4280 if reached may have confluence.
s/o 3251 trade -15.... s/o a 1/2 trade -40.... bulls did well..
im watching here. still holding lt shorts but will consider closing soon.. but may wait till next week.
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those who can, do. those who cant, talk about those who can
  • #338,815
  • Dec 3, 2010 9:58am Dec 3, 2010 9:58am
Quoting fontu
pa now I see , hope it helps still bull
fontu
flop it is . no to adhere with pa now , just bullying . usdx check now , down beyound all expectation , that is to correct the whole wave up for usdx & eu down . so great correction on the way confirmed in usdx .tl 3400 may do some good pullback though .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #338,816
  • Dec 3, 2010 9:58am Dec 3, 2010 9:58am
Quoting cloggie
Because in an uptrend they quote you a higher price then interbanks and will fill you higher again and vice versa in a down trend.

Brokers are there to take your money, everyone of them and will do anything to increase their profits.
okay maybe you could answer this, i have asked a couple times at various places and still haven't found a technical answer.

We 'trade currency', but in reality, we don't own that currency. At the end of the day, no matter what ... we will come back to our currency.

When a bank or 'big player' trades currency, what is the exact process when compared to the 'little' forex broker.

when PA occurs, is that fluctuation that is caused by currency trading from the actual act of exchanges between banks or is it 'placing bets' like normal forex for the average Joe?

& another question to ask, Do business Dealings factor into Forex heavily as far as import/export.

-if you know much about the 'business' side of it, when a 'letter of credit' is issued, lets say between my bank in the U.S. and the Chinese bank, does that transaction factor into forex. Especially once the goods are received & the process has cleared?
  • #338,817
  • Dec 3, 2010 10:02am Dec 3, 2010 10:02am
shorted
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  • #338,818
  • Dec 3, 2010 10:04am Dec 3, 2010 10:04am
Quoting mikej2010
Not being a smart-ass, asking serious question. If they are good during the news but rip you off during normal hours. Why not just use them for news trading/scalping?

The dark side of brokers. gotta love it.
Know when to hold em, Know when to fold em!
  • #338,819
  • Dec 3, 2010 10:05am Dec 3, 2010 10:05am
Trying to identify early next support...1.3380 area
  • #338,820
  • Dec 3, 2010 10:07am Dec 3, 2010 10:07am
Quoting cloggie
Finding ranges is crucial for success in this business, any muppet can find a trend, but where does it start from and where does it end gives you the really good trades.
For the time being I actually relies on some of the call in this forum, compare it with the actual trend, to get my level.

I know I shouldn't rely on this method forever. I will surely learn and let's see where it does get me.
Good day, I'm okay. Bad day, I'm okay. What's the difference?
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