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  • #2,641
  • Oct 18, 2007 4:18pm Oct 18, 2007 4:18pm
Anyone having trouble with EFX Demo? I am currently in a profitable trade, but unable to exit. I normally just right click on the position and click "Close All Positions", but as the screen shot shows this option is unavailable right now. I also tried to cover buy simply buying back 200,000, but that does not work either.

Not really concerned as this is just a demo account, just wondering if anyone else is having issues with EFX demo accounts. More importantly, has anyone with live EFX accounts ever had issues like this?

Glen
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  • #2,642
  • Oct 18, 2007 4:32pm Oct 18, 2007 4:32pm
Quoting Yuppie
I spent a lot of time playing with all sorts of colours and combinations...

The slowest MA is very visible now...

The red/white combination for flame I find very vivid...


Magnus
Magnus ...I wonder... Is it possible to tell someone's personality by looking at his rainbow?
Attached Image
  • #2,643
  • Oct 18, 2007 4:39pm Oct 18, 2007 4:39pm
I JUST DONT UNDERSTAND!!!!!!!!!

I am starting to get really frustrated here. I need some insite on this topic.

I feel that I am about to make a really big mistake following what everbody else is saying.

Here is the deal: I have been making money and making it well in forex trading with a dealing desk (Oanda). I understand all the hype about stop hunting etc..... But I feel that if you know what you are doing in this market you dont have to wory about bout all of that mess.

I just opened a demo account with EFX and the platform was so confusing it made me not even want to trade.

Then I traded and picked up 6 pips trading 1 standard lot of 100,000K with EUR/JPY. Pretty good trade. My total profit when you take out the commissions was $25.00 !!!!!!!!! I could not believe that commissions took out $5 for entering the trade and extra $5 for exiting the trade, and the rest was for the commissions.

How does this make since to people that use this company. I am sure that they are a good company and they offer really great customer service, but how in the world does this make any since to pay that much in commissions.


Please tell me WHY?????? I really don't understand!!!!

DeeNY
  • #2,644
  • Oct 18, 2007 4:39pm Oct 18, 2007 4:39pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Neznaika
Magnus ...I wonder... Is it possible to tell someone's personality by looking at his rainbow?
Yes!

You eat cornflake sandwiches don't you?...
  • #2,645
  • Oct 18, 2007 4:42pm Oct 18, 2007 4:42pm
Hey Magnus,

Really liked your setup, just tweaked it a bit and thought I'd show--I like some way of differentiating how strong a trend is, so put in the white lines in 3rds, I also found the red/red combo on 1st 2 ma's to be a great indication of flame--as it's all about seeing the flame in relation to the spine. One problem I had with the color rainbow was that it was hard to differentiate both the price and the spine in some instances--this is quite a bit better as we look for entries on the h-lines.
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  • #2,646
  • Oct 18, 2007 4:50pm Oct 18, 2007 4:50pm
Glen, never had that problem with my live account--just steer clear of manipulating a trade at 5pm EST and 12am EST.

DeeNY, use what you make money with--it's all about making money! By the way, how big is your lot size you trade on Oanda and have you found they manipulate your trades?

Flame On!
  • #2,647
  • Oct 18, 2007 4:52pm Oct 18, 2007 4:52pm
Oh, one more thing DeeNY, we're hoping that the new EFX system will be much clearer to use--it does take a while to learn Nav--but if you truly want to, the best thing to do is to watch one of their tutorials on their site...pk

Flame On!!!
  • #2,648
  • Oct 18, 2007 4:54pm Oct 18, 2007 4:54pm
Quoting pkchilly
Oh, one more thing DeeNY, we're hoping that the new EFX system will be much clearer to use--it does take a while to learn Nav--but if you truly want to, the best thing to do is to watch one of their tutorials on their site...pk

Flame On!!!

PK,

What charts are you using with them. Are you using Oanda charts?
  • #2,649
  • Oct 18, 2007 4:55pm Oct 18, 2007 4:55pm
Quoting DeeNY
I JUST DONT UNDERSTAND!!!!!!!!!

I am starting to get really frustrated here. I need some insite on this topic.

I feel that I am about to make a really big mistake following what everbody else is saying.

Here is the deal: I have been making money and making it well in forex trading with a dealing desk (Oanda). I understand all the hype about stop hunting etc..... But I feel that if you know what you are doing in this market you dont have to wory about bout all of that mess.

I just opened a demo account with EFX and the platform was so confusing it made me not even want to trade.

Then I traded and picked up 6 pips trading 1 standard lot of 100,000K with EUR/JPY. Pretty good trade. My total profit when you take out the commissions was $25.00 !!!!!!!!! I could not believe that commissions took out $5 for entering the trade and extra $5 for exiting the trade, and the rest was for the commissions.

How does this make since to people that use this company. I am sure that they are a good company and they offer really great customer service, but how in the world does this make any since to pay that much in commissions.


Please tell me WHY?????? I really don't understand!!!!

DeeNY
Hey DeeNY,

I know what you are feeling! I am just starting to get comfortable with the EFX platform, and am looking forward to the new platform which should be released soon.

However, I am curious about your example. A trade with 6 pips profit on 100,000 should profit you just over $40 AFTER the commissions are taken out. This is basically 5 pips of profit, because the spread is approximately worth 1 pip. You probably know this, but orders in their platform are in increments of $10k, so a 10 lot order would equal one full 100k lot.

I have never had problems with the commissions. It is basically 1 pip for every 100,000 you trade. So the "spread" or "spread + commission" difference between Oanda and EFX is very small when you take all things into account.

It does come down to personal choice of course. If you are comfortable with Oanda and are making money, don't make a change just because someone else says you should.

Glen
  • #2,650
  • Oct 18, 2007 4:55pm Oct 18, 2007 4:55pm
Quoting Yuppie
[I have to confess to seeing this thread before I saw the James16 thread - I never bothered with it 'cos I thought, 'What's that maniac doing with all those squiggly lines!?!...']...

Magnus
lol... that's why i got curious in this method...I thought , "Wow ,this guy is crazy, how is it possible to trade like this". plus, LT's old avatar was a smoking troll.... and I thought LT was smoking some good stuff...smoking, trading,golfing.
  • #2,651
  • Oct 18, 2007 5:00pm Oct 18, 2007 5:00pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting pkchilly
Hey Magnus,

Really liked your setup, just tweaked it a bit and thought I'd show--I like some way of differentiating how strong a trend is, so put in the white lines in 3rds, I also found the red/red combo on 1st 2 ma's to be a great indication of flame--as it's all about seeing the flame in relation to the spine. One problem I had with the color rainbow was that it was hard to differentiate both the price and the spine in some instances--this is quite a bit better as we look for entries on the h-lines.

...

I like the first two MAs as red... Will try it tomorrow maybe...

The mid MAs in white. Not sure they look too good my my chart as I have taken out every other MA and after that they seem a bit obtrusive...

Will experiment some more...

It gets to a stage where it is just aesthetics.,. But I'm all for showing off...


Magnus
  • #2,652
  • Oct 18, 2007 5:04pm Oct 18, 2007 5:04pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Neznaika
lol... that's why i got curious in this method...I thought , "Wow ,this guy is crazy, how is it possible to trade like this". plus, LT's old avatar was a smoking troll.... and I thought LT was smoking some good stuff...smoking, trading,golfing.
Yeah, traders [aspiring included] are general slightly different to the general population... Just check out the conversations that go on in FF...

I believe Rainbow Scalpers are even different still... :...


Magnus
  • #2,653
  • Oct 18, 2007 5:27pm Oct 18, 2007 5:27pm
Quoting Neznaika
Magnus ...I wonder... Is it possible to tell someone's personality by looking at his rainbow?
I'm not sure. Can you tell anything about me by
looking at mine?
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  • #2,654
  • Oct 18, 2007 5:34pm Oct 18, 2007 5:34pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting FXSurfer
I'm not sure. Can you tell anything about me by
looking at mine?

You march around all day with ill-deserved confidence...

These dreams, while ludicrous, hold the key to your success in forex...

If you keep dreamin'... Stuff'll keep happenin'... :


Magnus
  • #2,655
  • Oct 18, 2007 5:36pm Oct 18, 2007 5:36pm
Quoting FXSurfer
I'm not sure. Can you tell anything about me by
looking at mine?
Wow! It's like you opened up your head and allowed us to take a look!!!
  • #2,656
  • Oct 18, 2007 5:51pm Oct 18, 2007 5:51pm
Quoting FXSurfer
I'm not sure. Can you tell anything about me by
looking at mine?
yes, surfer...we got almost ( i like brunets) the same interests ... also, I see that u took a screen shot at October 2... 16 days ago.. that means u r doing ur thing..
one question, how did u get a watch on the right corner?
thanks.
  • #2,657
  • Oct 18, 2007 6:12pm Oct 18, 2007 6:12pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Ok peeps, this weekend and next week I will be assimilating and studying the information I have been so kindly provided with in this thread in the last few days.

As we have talked about, this method is somewhat different to most other methods around. As a result, most of the factors that make up the method as a whole are different...

One thing that is clearly different is risk. I have not vendured too much thought towards this yet as I have been concentrating my efforts on learning the method. Now that I am live [albeit with a nominal sum] I will have to focus some attention on it...

You can only calculate how much you are going to place on any one trade if you know how much you could potentially lose on that trade. I have given myself an average stoploss of 10 pips and am risking 2% of my balance. My acount is $200.00, and therefore I am currently placing $0.20 per pip stake on each trade.

Now, this is scalping... No, in fact, this is Rainbow scalping...

Risk is going to be somewhat different, I am assuming. High probability trades. [hopefully] Small stops. Some potential large gains every now and again. Profit [again, hopefully] most days... All very different to most methods...

I think it would be quite beneficial to everyone to hear some of your thoughts on this...

How much risk are you taking on?
Does it vary depending on your confidence in each individual trade?
When do you decide to increase your lot size / $ per pip?

... anything and everything really...

My initial thoughts are that once you have obtained a certain level of consistency, you can then properly guage your risk. I mean, if you're getting 80-90% winners, with your losers staying quite small. And you are profitable 4 out of every 5 days say, can you take on more risk than a typical trading methodology? Or should it be a lot less because of the ever present danger of potential price jump?

These are things I have yet to really thing about...

... Off to bed now, got to be up to bring EUR/JPY his breakfast in 5 hours time...


G'night,

Magnus
  • #2,658
  • Oct 18, 2007 6:33pm Oct 18, 2007 6:33pm
Quoting pkchilly
Just wondering out loud eyecell, have you opened up your chart on Ninja and waited for a while. I know you say it is a white screen, but that's all I saw the 1st time I opened it because it doesn't carry past data, you have to give it a few moments to get the data on the screen. When I 1st started mine up, there was a white screen with a dot in the far right corner that represented the price. Sorry if this doesn't help, but I've found ninjatrader quite useful for trading the rainbow as it gives me real EFX price.

Just a quick note to all--I feel this thread has moved ahead greatly in the past few days in helping all to understand the Rainbow--thanks to Magnus for insightful questions and to CYSM, Hensch, ItalianFX and all others for answers--it is a privilege to be a part of a community that truly wants to learn and teach...pk

Flame On!! Charge On!!
thanks for the help. i finally got it!!! but the problem was with something else. i couldnt manually enter eur/jpy on ninja, i had to find it in the list of available instruments, then, i had to choose 1 min tf before jumping to ticks

btw, how many ticks are u using for charting during active trading hours? something that would be similar to 5 sec? thanks
"Nothing is unexplainable, Everything is mystery" W. Liquorman
  • #2,659
  • Oct 18, 2007 6:52pm Oct 18, 2007 6:52pm
Zig Ziglar said that we must read each thing 16 times in order to understand it properly and in depth.

Many little things are making different sense after screening time.

My 0.2 drachma

Basil
Learn something difficult and earn real money for ever, a lot.
  • #2,660
  • Oct 18, 2007 6:58pm Oct 18, 2007 6:58pm
Quoting Neznaika
one question, how did u get a watch on the right corner?
thanks.
Hello Neznaika!
It's just a free desktop clock available here:
http://www.softdemon.com/freeclock/

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