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  • #1,601
  • Sep 19, 2007 1:14am Sep 19, 2007 1:14am
Dear Traders,

I was yesterday very confused from very simple calculation how much lots to trade...

Maybe somebody can help me how to SIMPLE calculate no. of lots if this example:

EUR/JPY, Account $3.400, SL 10 pips, max. risk 2% from the account($68)...
Now is EUR/JPY 161.97, EUR/USD 1.3980... if 100.000 traded one pip equal to $8,10 and commission $5RT.

So how much pips and with which lot size should I trade to make for example $10 nett gain?

Many thanks and sorry for this request
Bruno
  • #1,602
  • Sep 19, 2007 1:14am Sep 19, 2007 1:14am
Quoting italianfx
I have problems loggin in to EFX platform today, and also connecting to their web page. Is only a problem with my connection or some of you have the same problem?

EDIT: now it's working happy scalping to all !
Hi Alessandro,

no problem for me! Everything is working perfect.
  • #1,603
  • Sep 19, 2007 1:23am Sep 19, 2007 1:23am
Follow these instructions:

  1. Open NINJA
  2. Tools - Account connection - Add - SetMB Trading - User Name -Password -Save connection
  3. If you see picture 1 – conection is working properly
  4. then FILE – NEW – CHART and set up Format Data Serie (picture 2)
  5. Now it should work

Attachment Attachment

Attached Image(s) (click to enlarge)
Click to Enlarge Name: EFX1.png Size: 50 KB
Click to Enlarge Name: EFX2.png Size: 59 KB
  • #1,604
  • Sep 19, 2007 1:24am Sep 19, 2007 1:24am
Quoting Bruno
Dear Traders,

I was yesterday very confused from very simple calculation how much lots to trade...

Maybe somebody can help me how to SIMPLE calculate no. of lots if this example:

EUR/JPY, Account $3.400, SL 10 pips, max. risk 2% from the account($68)...
Now is EUR/JPY 161.97, EUR/USD 1.3980... if 100.000 traded one pip equal to $8,10 and commission $5RT.

So how much pips and with which lot size should I trade to make for example $10 nett gain?

Many thanks and sorry for this request
Bruno
Hi Bruno

$68/8,10=8,4 so you should use 8 mini
$10/8,10=1,23 if you make 2 net pips + commission you have more than $10

I hope it's correct :-)
  • #1,605
  • Sep 19, 2007 1:41am Sep 19, 2007 1:41am
Quoting Bruno
Dear Traders,

I was yesterday very confused from very simple calculation how much lots to trade...

Maybe somebody can help me how to SIMPLE calculate no. of lots if this example:

EUR/JPY, Account $3.400, SL 10 pips, max. risk 2% from the account($68)...
Now is EUR/JPY 161.97, EUR/USD 1.3980... if 100.000 traded one pip equal to $8,10 and commission $5RT.

So how much pips and with which lot size should I trade to make for example $10 nett gain?

Many thanks and sorry for this request
Bruno
Bruno,

according to my numbers EFX, for the EUR/JPY, charges $7.00 x round x $100,000.-

This is $14.00 the round trip (buy & sell).

1 pip = $8.6

10 pips = $ 86.-

If you trade 1 full lot, you're out of your 2%, sou you have to adjust to something like 7/8 mini lots.

Henry
  • #1,606
  • Sep 19, 2007 1:42am Sep 19, 2007 1:42am
1 super wrong entry .... which went to -50 before closing @ +3
1 ok entry with not so nice exit for a +10

Saw the 233.45 area to be strong resistance for several hour, so thought I could aim the top and bottom .... now I remember the 5 step to become successful trader... and Karmostaji philosophy, never try to guess the bottom of falling knife.

Wish me better entry & exit please. Thank you
Attached Image (click to enlarge)
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  • #1,607
  • Sep 19, 2007 2:29am Sep 19, 2007 2:29am
Quoting hensch
Bruno,

according to my numbers EFX, for the EUR/JPY, charges $7.00 x round x $100,000.-

This is $14.00 the round trip (buy & sell).

1 pip = $8.6

10 pips = $ 86.-

If you trade 1 full lot, you're out of your 2%, sou you have to adjust to something like 7/8 mini lots.

Henry
Many thanks Henry!
  • #1,608
  • Sep 19, 2007 2:53am Sep 19, 2007 2:53am
Quoting JoshDance
Just a thought--if the 1 min is easier to trade, why not just triple up your lots on trades based off of it? :-) Why do something harder, if something else is easier? Not trying to sound like a smart ass, I promise, this is a serious consideration..! And while the 5s may be more profitible for some, if the 1 minute is indeed easier to trade for some, then for THEM the 1min is probably more profitible. I'm just trying to make sure that people don't read statements like what you wrote above without really thinking about them and just accepting them as truth for themselves, when in fact it may not be.

Anyway, anybody have any action tonight so far?
haha, 5 sec is the most profitable timeframe (besides of course 1 tick) since it shows you the smallest moves, the moves within the 1m moves

btw. I think you should always trade a fixed percentage of your account based on your system which is the most logical money managementwise.

Now the point just is, in 1m timeframe you catch waaay less trades. I would estimate that I get about 10% on trades of what I get in 5 sec timeframe.


BUT yeah I like what you wrote about finding what suits you the best :-)
If you just cannot sit infront of the screen for a long time, maybe 5 sec timeframe is not the best choice for you, maybe you should just trade other bigger time frame where you don't have to look at the screen all the time.
  • #1,609
  • Sep 19, 2007 3:17am Sep 19, 2007 3:17am
Quoting Canyouseeme
haha, 5 sec is the most profitable timeframe (besides of course 1 tick) since it shows you the smallest moves, the moves within the 1m moves
Have you tried to trade out of a 1 tick chart?
  • #1,610
  • Sep 19, 2007 3:39am Sep 19, 2007 3:39am
Fes: 3 Contracts/ 6 mins / 5 "pips" / €150.... Could have taken a lot more very late and risky entry !!!

jjrvat
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  • #1,611
  • Sep 19, 2007 4:00am Sep 19, 2007 4:00am
How not to get whipsawed and up net neg. pips end of day.
This may take me awhile to get.
*You've got to be onboard of a good move in order to profit from it.
*But, jumping in and out finding one really costs $.


(Yes, I know what a good move looks like on a chart after it's
occurred. Even while it is going like hell! But, jumping in then is
a pretty bad entry and just asking for a huge whipsaw, right or not?)
  • #1,612
  • Sep 19, 2007 4:29am Sep 19, 2007 4:29am
Quoting FXSurfer
How not to get whipsawed and up net neg. pips end of day.
This may take me awhile to get.
*You've got to be onboard of a good move in order to profit from it.
*But, jumping in and out finding one really costs $.


(Yes, I know what a good move looks like on a chart after it's
occurred. Even while it is going like hell! But, jumping in then is
a pretty bad entry and just asking for a huge whipsaw, right or not?)
Hey FXSurfer,

In my opinion, you have to know the instrument you are trading by heart. Know exactly the time you are trading and when it moves and what is +/- the average "Noise range" you can have during this time (without news of course).

Tick charts reduce whipsaws a lot but what it really helped me was looking for entries right after (next 3 to 10 mins) the exact hours: 9:00, 9:30, 10:00, 10:30 and 11:00 (Not the case of the last chart thats why it was a risky trade for me). I have notice that during these times trends continue, go flat or change. But this is just my experience, it works for me most of times....

Here is a "Book example" of the JPY/Us cross

jjrvat

Attachment
Attached Image (click to enlarge)
Click to Enlarge Name: Jpy US.jpg Size: 137 KB
  • #1,613
  • Sep 19, 2007 5:15am Sep 19, 2007 5:15am
Quoting FXSurfer
How not to get whipsawed and up net neg. pips end of day.
This may take me awhile to get.
*You've got to be onboard of a good move in order to profit from it.
*But, jumping in and out finding one really costs $.


(Yes, I know what a good move looks like on a chart after it's
occurred. Even while it is going like hell! But, jumping in then is
a pretty bad entry and just asking for a huge whipsaw, right or not?)
This session has been very messy. I don't think there's a way to know it in advanced, however if you have a system that works and suddenly produces odd losses, that might be the best indicator to stay out.
  • #1,614
  • Sep 19, 2007 5:20am Sep 19, 2007 5:20am
Please Advice
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  • #1,615
  • Sep 19, 2007 5:45am Sep 19, 2007 5:45am
Quoting Syafi
1 super wrong entry .... which went to -50 before closing @ +3
1 ok entry with not so nice exit for a +10

Saw the 233.45 area to be strong resistance for several hour, so thought I could aim the top and bottom .... now I remember the 5 step to become successful trader... and Karmostaji philosophy, never try to guess the bottom of falling knife.

Wish me better entry & exit please. Thank you
lol, the first entry is good, but wrong direction
"Nothing is unexplainable, Everything is mystery" W. Liquorman
  • #1,616
  • Sep 19, 2007 5:46am Sep 19, 2007 5:46am
Quoting jjrvat

Tick charts reduce whipsaws a lot but what it really helped me was looking for entries right after (next 3 to 10 mins) the exact hours: 9:00, 9:30, 10:00, 10:30 and 11:00 (Not the case of the last chart thats why it was a risky trade for me). I have notice that during these times trends continue, go flat or change. But this is just my experience, it works for me most of times....
Interesting observation JJ, I'll take a look.
  • #1,617
  • Sep 19, 2007 6:36am Sep 19, 2007 6:36am
Does anybody know why this sudden plunge?
  • #1,618
  • Sep 19, 2007 7:17am Sep 19, 2007 7:17am
Quoting hensch
Does anybody know why this sudden plunge?
simply because some big guys sell
  • #1,619
  • Sep 19, 2007 8:36am Sep 19, 2007 8:36am
Quoting hensch
Have you tried to trade out of a 1 tick chart?
There were some stock and futures traders that would do that back in the old days, but not plotted on a chart... I think it's called "reading the tape".
  • #1,620
  • Sep 19, 2007 9:32am Sep 19, 2007 9:32am
Quoting bluebuddha
There were some stock and futures traders that would do that back in the old days, but not plotted on a chart... I think it's called "reading the tape".
I based the rainbow on tape reading... Tape in old days and Rainbow ribbon for the brave new world... Working on CyroxMMA for the future (future of the colorful Rainbow that we are using now) and also high probability patterns... Hopefully we will get a lot of good tools available for ForEx scalpers in the near future (such as NinjaTrader, Trademaven, X_Trader etc); where we can plot CyroxMMA and Cyrox AutoScalper (waiting for Omega)...
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