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Quoting dcginc
Awin

Get a different broker. You should be able to place a pending or limit order with no pip distance requirement.

Furthermore, your chart shows a spread of 15 pips on your NZD/USD. This should be 4 pips at the most and 3 average.

There are many that are much more competitive than the one you are currently using. Shop around.

Good luck.

dcginc
Hi dginc,

thanks for your reply. the indicator i used to display the spread is set for a 4-digit pip spread, the ECN account which i have right now is using 5-digit pips hence, the display reads 15 pips which actually means 1.5 pips..

but regarding the pips distance limit orders, yes you are actually right that they should allow placing limit orders without any distance requirements that is why i made a consensus because i feel it ain't right. why do you think they place such requirement on limit orders? any thoughts on this? i see you are a seasoned trader and any feedback from you will be valuable...

i have a second account with this broker which is not ECN and i had so far no problems with it after 9 months. the reason why i tried their ECN is because of low spread and better execution, which is so far holding out to be true..

why do you think they need 100 pips distance on limit orders?
would you go for an ECN account as well?
can you recommend a good ECN broker?

thanks a lot dginc... looking forward to your reply...
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Quoting kokopelli
Interesting!!! I see and understand the analysis on the 4-hr chart, but the trend-trader in me has a hard time grasping and accepting this counter-trend thesis. As a trend guy, picking turning points just doesn't come naturally for me. We'll see!!!

Good luck!!!
The sonic daily channel it still indicates that the trend is up isn't it? so it's not a counter trade according to xman h4 rules
Quoting migmac
The sonic daily channel it still indicates that the trend is up isn't it? so it's not a counter trade according to xman h4 rules
Well, it depends on what daily channel you're looking at isn't it? Someone could look at the daily channels and conclude that there's a very steep but smaller uptrend that is about to turn downward in a much bigger downtrend channel, no?

Edit: but for me, I don't look at higher or lower time-frame charts when I trade - I just trade the chart that I trade and make my decisions from that one chart alone - hence, my conclusion that the 4-hr trend is still down regardless of other time frames and I don't use trend channels, just trend lines. But to each his/her own!
Quoting Awin
Hi dginc,

thanks for your reply. the indicator i used to display the spread is set for a 4-digit pip spread, the ECN account which i have right now is using 5-digit pips hence, the display reads 15 pips which actually means 1.5 pips..

but regarding the pips distance limit orders, yes you are actually right that they should allow placing limit orders without any distance requirements that is why i made a consensus because i feel it ain't right. why do you think they place such requirement on limit orders? any thoughts on this? i see you are...
When I see 15 pips is in fact 1.5 pips, isn't the 100 pips distance the same as 10 pips? This is still way too high, but better then 100 pips.
does the news still preventing bull to come out? bear is still holding the bull.
Quoting Awin
Hi dginc,

thanks for your reply. the indicator i used to display the spread is set for a 4-digit pip spread, the ECN account which i have right now is using 5-digit pips hence, the display reads 15 pips which actually means 1.5 pips..

but regarding the pips distance limit orders, yes you are actually right that they should allow placing limit orders without any distance requirements that is why i made a consensus because i feel it ain't right. why do you think they place such requirement on limit orders? any thoughts on this? i see you are a seasoned...
Awin, if you don't mind disclosing, who is your current ECN broker that gives you this problem?
Quoting Awin
Hi dginc,

thanks for your reply. the indicator i used to display the spread is set for a 4-digit pip spread, the ECN account which i have right now is using 5-digit pips hence, the display reads 15 pips which actually means 1.5 pips..

but regarding the pips distance limit orders, yes you are actually right that they should allow placing limit orders without any distance requirements that is why i made a consensus because i feel it ain't right. why do you think they place such requirement on limit orders? any thoughts on this? i see you are...
awin. yours arent pips. but pippets or something. 5 digit mean you are on micro lot. so x in this 1.300x0 mean pip. in other mean 10 mean 1 pip.
he said low spread can be also mean the it aint fixed. so it can change according to market.
Some people say, no trade is too big. That is incorrect if the trader is novice. Once decided to invest real money in trading, remember to start small, which means traders should not invest a large proportion of his money into the market in order to prevent from losing.
I see another scalping day, don't see enough major news to give the market big moves. I think the big boys will sit on it for a while before making there move. What do you think?
i saw bull doing something O_O. waiting until it close. and eat a bear meat that been killed by bull nyam2.
Look at this nice pullback bar... will we see the move upward now? Let's see...price action sure is looking like it wants to move up.

Rejection of move down with this current bar!
Quoting Liberum
When I see 15 pips is in fact 1.5 pips, isn't the 100 pips distance the same as 10 pips? This is still way too high, but better then 100 pips.
the spread indicator is set by me, not by the platform and the limitation of which is just 4-digits, so if the platform uses 5-digits, it iwll still just show 4-digits, hence you have to move the decimal place 1 place to the left, which does not correspond to the pipette used by the platform...

the 100 pips reuirement is shown in the order execution window(see attached), so it has nothing to do with the spread indicator...

thanks for replying...

sorry i forgot to attach...see next post pls....
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
for me. i am waiting until it goes past 1.3193 and i put buy stop at 1.3194 . what do you guys think? x-man, phx62?
Quoting ljin
i saw bull doing something O_O. waiting until it close. and eat a bear meat that been killed by bull nyam2.
I hope your analysis is correct because i am in a long carried over the weekend, looking much better ATM, we'll play it out. Damn, i hate these carryovers but i hate to take a loss even worse. We'll hang in there.
Oop's just hit TP on eur/cad as i was typing, +20.

Good Luck
the attached is the order execution window....
Attached Image (click to enlarge)
Click to Enlarge Name: order execution window.png Size: 52 KB
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Quoting cajun
Not yet, but i'm looking hard at it, what's holding me back is it just crossed the 200. Will wait a while.
there is news coming out in 5 mins, so id wait for that too
Quoting kokopelli
Awin, if you don't mind disclosing, who is your current ECN broker that gives you this problem?
sure thing kokopelli.... FX Primus....so far no problems with them except this 100 pips requirement on their limit orders in ECN...
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Quoting ljin
awin. yours arent pips. but pippets or something. 5 digit mean you are on micro lot. so x in this 1.300x0 mean pip. in other mean 10 mean 1 pip.
he said low spread can be also mean the it aint fixed. so it can change according to market.
hi ljin,

again, i have no problem with the pips nor with pipettes, much more with spread...in fact no problem with the broker, except that, they require a distance of 100 pips on limit orders which is not reasonable, hence, i am trying to get the wisdom behind that requirement from seasoned traders and traders who have experienced the same and knows the reason why....

hope this clear things up...
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
I'm in short on usd/chf, TDI cross and red candle crossed the channel. Maybe should have waited till the next candle but i'll scalp it if i have to.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 21 KB
Quoting Awin
hi ljin,

again, i have no problem with the pips nor with pipettes, much more with spread...in fact no problem with the broker, except that, they require a distance of 100 pips on limit orders which is not reasonable, hence, i am trying to get the wisdom behind that requirement from seasoned traders and traders who have experienced the same and knows the reason why....

hope this clear things up...
probably. just probably that 100 pips mean x in 1.30xxx. if it like that. then its like 10 pips. same. either way. i think you should discuss this to your broker.
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