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  • #2,421
  • Oct 15, 2007 5:38pm Oct 15, 2007 5:38pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Blazer
Thank you Yuppie,

I dont know if it is the habit ,but I like better the oanda chart.
Ninja looks like a refrigerator window,lol.
It might be an optical joint trip ,lol.
Anyway do we get any advandage from the 3 tick chart that help us to deside quicker ?

Thank you

Basil

I agree, I find OandA chart very good [visually].

Like I said, I have not tried tick yet.

I think 5-sec is pretty quick. I currently do not need any quicker than this. But if my trigger finger starts to get bored... :


No problem Basil,

Magnus
  • #2,422
  • Oct 15, 2007 10:44pm Oct 15, 2007 10:44pm
Quoting DeeNY
Hello all.


Is there a reason nobody likes to trade EUR/USD anymore.
Hey Deeny,

I like to trade EUR/USD because of the low spread... If I'm shooting for 6 or so pips, paying 2 pip spread is roughly a quarter of my profit that I'm paying to my broker. However, with EUR/USD's <1 pip spread, I am then only paying roughly 14% of my profits to the broker. I like this idea better personally.

This is just like basic government accounting. Governments think they will generate revenue and ultimately profit by raising taxes, but you can also raise profits by cutting costs(which it will rarely do). In our case, cost is spread.

When I scalp EUR/USD, I usually shoot for smaller pips, as it won't move as much. I suspect that's why there's a lack of interest in the pair for scalpers.

Regards,

Kevin
  • #2,423
  • Oct 15, 2007 11:34pm Oct 15, 2007 11:34pm
Hello kharvell,

100% understood. I figured that is the reason why scalpers are not too interested in EUR/USD. I does not move as much as EUR/JPY.

I love the constant 1 pip spread aswell. I feel kinda itchy giving away to much profit right off the back.

Thanks man. How was your success today with trading?


DeeNY




Quoting kharvell
Hey Deeny,

I like to trade EUR/USD because of the low spread... If I'm shooting for 6 or so pips, paying 2 pip spread is roughly a quarter of my profit that I'm paying to my broker. However, with EUR/USD's <1 pip spread, I am then only paying roughly 14% of my profits to the broker. I like this idea better personally.

This is just like basic government accounting. Governments think they will generate revenue and ultimately profit by raising taxes, but you can also raise profits by cutting costs(which it will rarely do). In our case, cost is spread.

When I scalp EUR/USD, I usually shoot for smaller pips, as it won't move as much. I suspect that's why there's a lack of interest in the pair for scalpers.

Regards,

Kevin
  • #2,424
  • Oct 16, 2007 12:12am Oct 16, 2007 12:12am
i also scalp the eur/usd over eur/jpy due to the spread...with oandas 0.9 spread most of the day..just obvious pick for me. i try to get in and out with just 1-2 pips/trade and sometimes i capture bigger moves of 8+pips (using a stoploss at breakeven at all times that is)...eur/jpy has more movements but i would rather stick with slow n steady of the eur/usd and just get in n out.


Rainbow traders...what target do you all use for the day? i am currently aiming for 10pips/day. but i find it quite easy. lol..usually done trading 2hrs after NY open...does anyone shoot for more than 10 pips or just trade what the markets give them?


JL
  • #2,425
  • Oct 16, 2007 12:51am Oct 16, 2007 12:51am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting JLivermore
i also scalp the eur/usd over eur/jpy due to the spread...with oandas 0.9 spread most of the day..just obvious pick for me. i try to get in and out with just 1-2 pips/trade and sometimes i capture bigger moves of 8+pips (using a stoploss at breakeven at all times that is)...eur/jpy has more movements but i would rather stick with slow n steady of the eur/usd and just get in n out.


Rainbow traders...what target do you all use for the day? i am currently aiming for 10pips/day. but i find it quite easy. lol..usually done trading 2hrs after NY open...does anyone shoot for more than 10 pips or just trade what the markets give them?


JL

JLivermore,

I trade EUR/JPY exclusively [just now]. I currently aim for as much as I can squeeze out of the day with the set-ups I take. I only take profit when the price tells me to - loss of momentum, reversal, etc... I do not have a specific pip target on any one particular trade.

This might be detrimental in some respects...

I notice that however many pips I get for the day it is never enough. I am not sure if this is normal, or just the innate human tendency to never be content and always desire more? Maybe it is another psychological trading hurdle to get over? Might start a thread on that... See what other intraday-traders are thinking...


Magnus
  • #2,426
  • Oct 16, 2007 1:11am Oct 16, 2007 1:11am
Just some quick scalps before I do my work out ( getting ready for London open!).

btw the data feed kinda was messed up so the trades are quite badly timed but hey, still positive so everythings fine
Attached Image
  • #2,427
  • Oct 16, 2007 1:12am Oct 16, 2007 1:12am
I notice that however many pips I get for the day it is never enough. I am not sure if this is normal, or just the innate human tendency to never be content and always desire more? Maybe it is another psychological trading hurdle to get over? Might start a thread on that... See what other intraday-traders are thinking...
Magnus[/quote]


Try to focus only for 1-2 trades per day. It was unpossible for me too, but now I trade much better and consistent(because only max . 3 trades /day). Maybe I am wrong, but do not try to catch exactly amount of pips every day. Try to stay only positive - EVERY day.

Bruno
  • #2,428
  • Oct 16, 2007 1:21am Oct 16, 2007 1:21am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Bruno
Try to focus only for 1-2 trades per day. It was unpossible for me too, but now I trade much better and consistent(because only max . 3 trades /day). Maybe I am wrong, but do not try to catch exactly amount of pips every day. Try to stay only positive - EVERY day.

Bruno

Bruno, once you hit 3 trades, is that it for the day, is this just a guide for you?

Do you have the same profit target for every trade or play each trade on it's own?


Magnus
  • #2,429
  • Oct 16, 2007 1:23am Oct 16, 2007 1:23am
That's why every successful trader must have a pre defined business plan.

If trading a demo, it's OK to practice until "trading platform"/strategy is understood,
however once we are proficient with the strategy (+pips in balance)we have to
trade as if live. Only you know how much real money you have/can risk, therefore
a plan fitting your capital must be tailored.

Hope this helps,

Henry
  • #2,430
  • Oct 16, 2007 1:31am Oct 16, 2007 1:31am
Quoting Yuppie
Bruno, once you hit 3 trades, is that it for the day, is this just a guide for you?

Do you have the same profit target for every trade or play each trade on it's own?


Magnus
No I do not have same PT for each trade - depends on spine...But usually If I feel no good I close the trade without problems only with 1 pip nett profit. I watch the market all the day, after 3 live trades I turn off my live platform and play demo. Usually I make between 1-3% every day. Stilll have some LOOSING days...but who cares, I want to stay in this game as long as possible, and I know that is REALLY possible and HIGHLY probable that one day it will be like reading book for me, only boooring earning money game.... ....PERSISTENCE

It takes really some time to absorb all this things, do not rush to much.

What is funny that now I loose with demo and win with live trades - because lack of concentration and discipline during demo trades. But I am happy - I can trade and cost me no money.


Have a great trades
Bruno
  • #2,431
  • Oct 16, 2007 1:43am Oct 16, 2007 1:43am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Bruno
I watch the market all the day, after 3 live trades I turn off my live platform and play demo.


Interesting idea Bruno. Good for learning.

I am still on demo. (Maybe after 3 trades on demo in a day I could practice on a live account


Thanks,

Magnus
  • #2,432
  • Oct 16, 2007 1:48am Oct 16, 2007 1:48am
Quoting Yuppie
JLivermore,

I trade EUR/JPY exclusively [just now]. I currently aim for as much as I can squeeze out of the day with the set-ups I take. I only take profit when the price tells me to - loss of momentum, reversal, etc... I do not have a specific pip target on any one particular trade.

This might be detrimental in some respects...

I notice that however many pips I get for the day it is never enough. I am not sure if this is normal, or just the innate human tendency to never be content and always desire more? Maybe it is another psychological trading hurdle to get over? Might start a thread on that... See what other intraday-traders are thinking...


Magnus
I usually put myself a goal for the day (right now 20 pips).

This doesnt mean I stop at 20 pips, I trade all the sessions I usually trade which are london and ny open for well as long as the market moves

I dont know about you but since I trade all the sessions i want to trade I dont have the feeling that I need more pips.
  • #2,433
  • Oct 16, 2007 1:51am Oct 16, 2007 1:51am
Looks like the range here is:
High at 166.86
Low 166.72 on Oanda for the breakout entry, will wait for high probability formation on the 5 second rainbow.
TheCableGuy
  • #2,434
  • Oct 16, 2007 1:56am Oct 16, 2007 1:56am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Canyouseeme
I usually put myself a goal for the day (right now 20 pips).

This doesnt mean I stop at 20 pips, I trade all the sessions I usually trade which are london and ny open for well as long as the market moves

I dont know about you but since I trade all the sessions i want to trade I dont have the feeling that I need more pips.


I'm getting the feeling that it is just me ...

For example, yesterday my trades for the first few hours of London session were [in order of occurrence] -6, -7, -9, and +50. Still continued to trade through the day.

I think it is maybe just for the experience. Once I start trading my live account with this method then I'll see how I feel...


Magnus
  • #2,435
  • Oct 16, 2007 2:06am Oct 16, 2007 2:06am
Quoting Bruno
No I do not have same PT for each trade - depends on spine...But usually If I feel no good I close the trade without problems only with 1 pip nett profit. I watch the market all the day, after 3 live trades I turn off my live platform and play demo. Usually I make between 1-3% every day. Stilll have some LOOSING days...but who cares, I want to stay in this game as long as possible, and I know that is REALLY possible and HIGHLY probable that one day it will be like reading book for me, only boooring earning money game.... ....PERSISTENCE

It takes really some time to absorb all this things, do not rush to much.

What is funny that now I loose with demo and win with live trades - because lack of concentration and discipline during demo trades. But I am happy - I can trade and cost me no money.


Have a great trades
Bruno
Dangerous tactic... You will get use to the demo trading habit and it may kick in auto magically when you trade live... Trade live with micro lots after your 3 big trades... or To make it more simple and smart just trade only from 3:00-3:30am EST and call it a day (more than 100 pips now - still running)... :surprised
  • #2,436
  • Oct 16, 2007 2:32am Oct 16, 2007 2:32am
Wow! What a free fall on E/J!
  • #2,437
  • Oct 16, 2007 2:36am Oct 16, 2007 2:36am
Quoting FXSurfer
Wow! What a free fall on E/J!
Beautiful! +12% to my account in half an hour
  • #2,438
  • Oct 16, 2007 2:37am Oct 16, 2007 2:37am
I wish I was trading with 100 real lots today,lol.

If all days was like today,that was a Hawai wave.

Who is loosing all these millions today ?

DIVING TIME.LOL.

Thank you

Basil

p.s.I suppose that someone new about the 8.30 news half an hour before.
Learn something difficult and earn real money for ever, a lot.
  • #2,439
  • Oct 16, 2007 2:37am Oct 16, 2007 2:37am
what a f...k is appening? I saw a spreed or -40 but they don't let me come in this game with a market order it's moving so fast!
  • #2,440
  • Oct 16, 2007 2:41am Oct 16, 2007 2:41am
Ok today my daily goal is prob a "little" bit higher than normal


Update: Damn I missed one trade :-( but still 133 pips on that pic + the ones from the small move before
Attached Image
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