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  • #1,301
  • Sep 12, 2007 8:30am Sep 12, 2007 8:30am
Quoting linuxtroll
Cool... One Tronder... LoL
Yes, i am a "Ekte Tronder" Hehe..
  • #1,302
  • Sep 12, 2007 8:34am Sep 12, 2007 8:34am
Just sharing my trade to see what everyone things--let me know...pk
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  • #1,303
  • Sep 12, 2007 8:37am Sep 12, 2007 8:37am
Quote
Originally Posted by JoshDance4 http://www.forexfactory.com/images/buttons/viewpost.gif
Even for swing/long-term traders, 2% is not low... for scalpers, who get at least 3 or 4 setups per day, 2% is faaaaaar too high of a risk, even if you're really good. Why? Drawdown--lose 5 trades in a row, which is not only possible, but extremely probable, even for a seasoned trader, and you're down 10%--tolerable, but not even close to a worse case.

I agree with you 100% Josh. Controlling position size is crucial. I've never been a fan of using a huge amount of leverage even when scalping. I've dealt with many traders and never met one yet that uses more than a 25:1 leverage and succeeds in the long run. I'm not saying they're not out there, but trading too many lots relative to the account equity introduces another huge theoretical risk into the equation; the risk of suffering an unexpected gap or system failure that blows up the account. Even if a scalper is only in a trade for seconds, there's a theoretical risk of this occurring. I know that this probability is really low, but if it happens, it's all over. It's just like buying homeowner's insurance. Chances are that a hurricane or another natural disaster will never hit your neighborhood hard, but that doesn't mean that you should not purchase insurance. Any blip can blow a high-leverage scalpers account out of the water. Even with a high win-loss ratio and short trade duration, we limit the leverage for our auto scalper to less than 10:1 (usually 5:1 or less).

I know there are cocky traders out there that go by their trading day with a it-won't-happen-to-me-becauase-I'm-so-good mentality; but trading is not about being cocky. It is about being safe. Just my two-cent's worth.
  • #1,304
  • Sep 12, 2007 8:41am Sep 12, 2007 8:41am
Quoting pkchilly
Just sharing my trade to see what everyone things--let me know...pk

very nice. i wouldve taken the same entries. Keep it on and youll kill the rainbow soon.
  • #1,305
  • Sep 12, 2007 8:56am Sep 12, 2007 8:56am
lol...if I kill it, can I still have the pot of gold? Thanks for the critique...it's greatly helpful. pk
  • #1,306
  • Sep 12, 2007 9:07am Sep 12, 2007 9:07am
Quoting Syafi
Use Oanda Chart. Oanda desktop version are good also.
Thanks Syafi and Josh....

I'm using Oanda for 5 sec, But Oanda does't have Index such as Hangseng or Nikkei. I think 5 sec TF quite good for Index. Anyone can help? Thanks
  • #1,307
  • Sep 12, 2007 9:10am Sep 12, 2007 9:10am
Quoting B4dak
Thanks Syafi and Josh....

I'm using Oanda for 5 sec, But Oanda does't have Index such as Hangseng or Nikkei. I think 5 sec TF quite good for Index. Anyone can help? Thanks
How about Quote Tracker?


Also: Spine range-bound between two Evens = My No Trade Zone
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  • #1,308
  • Sep 12, 2007 9:43am Sep 12, 2007 9:43am
Quoting FXSurfer
Also: Spine range-bound between two Evens = My No Trade Zone
Followed shortly by Spine-Thru-Even providing awesome
entry (for you guys since I was making more coffee.)

Coffee is good. Spine-Thru-Even Setup is better. LOL
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  • #1,309
  • Sep 12, 2007 9:46am Sep 12, 2007 9:46am
Quoting FXSurfer
Followed shortly by Spine-Thru-Even providing awesome
entry (for you guys since I was making more coffee.)

Coffee is good. Spine-Thru-Even Setup is better. LOL

Nice job FXSurfer!!!
  • #1,310
  • Sep 12, 2007 9:52am Sep 12, 2007 9:52am
Quoting italianfx
Nice job FXSurfer!!!
Thanks Sir!

P.S. I'm in Seattle, well known for our coffee. But, it's nothing
like the real thing - Italian Coffee!
  • #1,311
  • Sep 12, 2007 10:02am Sep 12, 2007 10:02am
Quoting B4dak
Thanks Syafi and Josh....

I'm using Oanda for 5 sec, But Oanda does't have Index such as Hangseng or Nikkei. I think 5 sec TF quite good for Index. Anyone can help? Thanks
Use ABN Amro - OANDA SYSTEM - with everything!

http://www.abnamromarketindex.com/de/index.php5
  • #1,312
  • Sep 12, 2007 10:02am Sep 12, 2007 10:02am
I know that LT answered this a while ago but I wonder what the users here prefer.
24 - 144 MAs with spread of 6 between each: LTs setup for more aggressive
20 - 240 MAs with spread of 10 between each: LT indicated more conservative

So... I have looked at both and really want to settle in on one.

Or... do any of you use 24-144 one color and another for 150-240??

I tend to be more conservative, but would like your thoughts.
  • #1,313
  • Sep 12, 2007 10:15am Sep 12, 2007 10:15am
Good move, Surfer!
  • #1,314
  • Sep 12, 2007 10:20am Sep 12, 2007 10:20am
Quoting cesande
I know that LT answered this a while ago but I wonder what the users here prefer.
24 - 144 MAs with spread of 6 between each: LTs setup for more aggressive
20 - 240 MAs with spread of 10 between each: LT indicated more conservative

So... I have looked at both and really want to settle in on one.

Or... do any of you use 24-144 one color and another for 150-240??

I tend to be more conservative, but would like your thoughts.
I don't think it is 150 to 240 but rather 10 to 240.

I'd like this opportunity to thank LT.Thanks!!
  • #1,315
  • Sep 12, 2007 10:22am Sep 12, 2007 10:22am
Quoting dominicanosrus
Good move, Surfer!
Thanks D!
Yes, my hindsight is remarkable!

Speaking of remarkable. It appears that the years have been
very kind to you! LOL! Just kidding. Is your avatar a picture of
your youngster? Very cute!
  • #1,316
  • Sep 12, 2007 10:33am Sep 12, 2007 10:33am
Quoting megamo
Hello Ikons8 and Rem, I have a few questions about the booktrader you guys are using.. The booktrader tool that you have a pic of, you said its available through IB, do you mean interactive brokers? I had gone to their site and didn't see anything about booktrader, just ideal and ideal pro..

Anyhow, how do you find is the execution with the platform and broker you are using? I'm assuming its an ECN setup?? And what is the leverage offered and the account minimum to trade those spreads and get the booktrader?? And last but not least, how do you find their price feeds compared to oanda, is it off by alot or a few pips??

I'm not concerned with the spread being 0, if its 1 pip to 1.5 pip I'm happy, as long as their commissions aren't ridiculous like EFX.. I'd trade 5 - 10 lots so commissions is a big factor.. What is the commission structure they have?

Thank you both in advance for the info..

The Booktrader is one of the many tools of their platform, the only one you need really. THeir price feed is very fast and accurate. You can enter limit orders very quickly in Booktrader, get filled at a pecise price, instead of dangerous "market" orders of EFX.

Spread is 0,5-2 pips on EJ, rarely 3.
  • #1,317
  • Sep 12, 2007 11:17am Sep 12, 2007 11:17am
Quote
Originally Posted by FXSurfer http://www.forexfactory.com/images/buttons/viewpost.gif
Thanks D!
Yes, my hindsight is remarkable!

Speaking of remarkable. It appears that the years have been
very kind to you! LOL! Just kidding. Is your avatar a picture of
your youngster? Very cute!

Yeah; hindsight trades are the best. "I would have bought here, sold there, taken the money for a trip around the world...;" all that good stuff!

Yes; the avatar is my 8-month old son Kaiser. Thanks for the compliment. Mommy says he has Travolta's [her favorite man on earth - after me, of course] chin. My profile shows my picture with my 2-year old princess.
  • #1,318
  • Sep 12, 2007 11:19am Sep 12, 2007 11:19am
EURAUD 1min

Great opportunity. Note the compression of the MAs, indicates price agreement and consolidation. A rollover of MAs is a strong move, and not personally what I look for. The horizontal orange line is a good SL level if you went short, for circles 1 and 2. Circle 3 is a clear confirmation. Price breaks down, then retraces back up. Enter at the top of the retrace. Even with a horrible spread on this pair, and a 15 pip SL, you could easily get 1.5*R (30 pips) in just under 2 mins.
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  • #1,319
  • Sep 12, 2007 11:40am Sep 12, 2007 11:40am
Quoting JoshDance
EURAUD 1min

Great opportunity. Note the compression of the MAs, indicates price agreement and consolidation. A rollover of MAs is a strong move, and not personally what I look for. The horizontal orange line is a good SL level if you went short, for circles 1 and 2. Circle 3 is a clear confirmation. Price breaks down, then retraces back up. Enter at the top of the retrace. Even with a horrible spread on this pair, and a 15 pip SL, you could easily get 1.5*R (30 pips) in just under 2 mins.

Indeed another good setup but M1 TF is way too boring and easy to trade of
Go for 5sec. 5sec is a lot more fun. (yes i am an actionjunky lol)
  • #1,320
  • Sep 12, 2007 11:44am Sep 12, 2007 11:44am
Here's some of what I look for when I use MMAs. Feel free to comment on your methods and opinions on my chart annotations!
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