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  • #621
  • Dec 14, 2007 9:23pm Dec 14, 2007 9:23pm
fti,

Man in Sg. are offering the currenex platform, and I have found them very good to deal with.

Thanks for your teaching.

Cheers
  • #622
  • Dec 14, 2007 9:42pm Dec 14, 2007 9:42pm
I found FF only 7 days ago and love it. The first forum i have found that has traders with brains. A special thanks to FTI for his contribution here.

I consider myself a very experienced trader but not a successful one. I know all the mistakes a trader can make as i've made them all, more than once, over the last 5 yrs.

As for brokers i tried quite a few. MBT is good for order execution but front end is attrocious. I don't know who provides their liquidity but you can place orders down to a single dollar in volume so it's very easy not to overleverage but that is still one of my biggest weaknesses. Forget their demo servers as they also use them for testing so they crash occasionally. Live servers are very reliable in my experience.

For charts I have accounts with Saxo and CMC. Their software has improved greatly over the last 3 yrs. What ever time frame your trading keep an eye on those daily charts. Can't believe i missed the HnS on the Euro yesterday. That's a powerful chart formation.

I've looked at metatrader4 software and am amazed that anyone likes it. It's an old DOS program written for the benefit of brokers. Sure it has some programming capabilities but no other good points i could see. Is this what people are referring to when they mention MT?

Has anyone here tried NinjaTrader. I haven't but i'm intrigued.

Keep up the good work. It's nice to have a thread free of bickering too. Thanks all.
Don't kill your dreams - execute them.
  • #623
  • Dec 15, 2007 1:55am Dec 15, 2007 1:55am
Hi ALL,

I have an anouncement to make.

Leighsww messaged me, that she shall not be gracing us with her charms for a while,
due to her loss of her beloved sister, in an automobile accident, this morning.

Not so unlike the sandpiper, she has brought much joy and happiness to many in this forum with her cheers.
Please share with me in my condolences to her and her family for their loss.
And praying for her recovery from her grief, to mingle amongst us again soon.

As for the freinds here who are still in the learning process of the Sun Zi thingy.
I hope that you will organise yourselfs and
find the inroads to the wisdoms in Sun Zi's writings, while I am away on holiday.
I shall be exploring on ways , of pointing you in the right direction.
And shall be posting it here for you when convenient.

regards
  • #624
  • Dec 15, 2007 2:09am Dec 15, 2007 2:09am
Quoting fti
Hi ALL,

I have an anouncement to make.

Leighsww messaged me, that she shall not be gracing us with her charms for a while,
due to her loss of her beloved sister, in an automobile accident, this morning.

Not so unlike the sandpiper, she has brought much joy and happiness to many in this forum with her cheers.
Please share with me in my condolences to her and her family for their loss.
And praying for her recovery from her grief, to mingle amongst us again soon.

As for the freinds here who are still in the learning process of the Sun Zi thingy.
I hope that you will organise yourselfs and
find the inroads to the wisdoms in Sun Zi's writings, while I am away on holiday.
I shall be exploring on ways , of pointing you in the right direction.
And shall be posting it here for you when convenient.

regards
Mdm Leigh,

I'm sorry to hear about your sister's sudden departure.....may the Lord be with you and her family. Life has to go on......hope to see you soon.
  • #625
  • Edited 3:42am Dec 15, 2007 2:39am | Edited 3:42am
Quoting fti
@ CHFJunkie
Its nice that you are enjoying this thread, but I much prefer if you understand it instead.
I think you may be a nice person.
But what you are asking me is really tempting my dealers arrogance to surface.
Let me explain and see if you can understand.

Actually what do you mean by exits. If thats not part of modus operandi.?
I don't get your point at all.
Position management ( entries , exits) is modus operandi.

This one's even wierder.
It's like asking me if its better to have butter or margarine with my bread.
My answer is this.
From a money management point of view, any exit strategy that allows you to be in profit is good.
Which is better?
How 's about you answer my question first.
With bread which is better butter or margarine?

chfjunkie, I really don't mean to be rude. but think about what you are asking me.

Look, as a matter of fact I don't know any pro traders, as you discribed.
The red jackets I know trade 500x more in volume (PER DAY) compared to the pros you mentioned trade per annum.
Let alone the dealers at banks.
So what are you trying to get at? I am baffled.

About Larry, since you are so into his styles, do write a letter to him, ask him how he used stop loss ,
what happen that he nearly went bankrupt, and ask him about "tradewins".
I think he may explain to his students.

And Jake is a cyclical trader, he enter trades based on cyclical time windowing, on his entry 1,2,3 rules
then stop-loss are inplimented GTC at way off charts,
and thats because he doesn't watch markets as he has to run his core business, education & seminars.

Further, both this traders are trading in the futures markets.
I am not aware of their involvement in forex.
And just because someone has an Advisory licence doesn't make the pro traders.
If these are pros , what do you call the thousands in the pits daily.

And your reading of tons of land fill about using stops,
well good go use them in the markets,
make tons of $$. Good Luck.
And Please do me a favour,
Go to any futures exchange near you, approach the red jackets in the pits
and tell them to put STOP LOSS orders.

I am gentleman, I can agree to disagree.

regards
FTI, it seems like there is a problem with me as it is obvious that I can't make u get my point!
All I wanted to know is ur experience about how to maximize ur profits when u r in a winning trade.
Anyway, I think chuck lebaeu's seminar answered me, As I think exit strategies is kinda of personal trading style.
I know I'm so much influenced by traders of futures markets.

about pit traders, when it comes to ELECTRONIC trading , it's completely different.
most of them fail when they come to ELECTRONIC trading because they don't have the patience needed in this kind of trading!they take transition courses!
their style is almost scalping, same style that kills electronic traders.
if a one of us ,ELECTRONIC traders , takes scalping as a style, he will get burnt out and will end up in the 90% category!
Another thing, we ,ELECTRONIC traders, don't have the resources the PIT traders have!
we don't have the same sense of markets as well.

I like ur trading philosophy and wise words but when it comes to trading style, what fits you doesn't fit me, unless I go back in history and get born by the same parents as yours, and get brought up in same environment and experience the same experiences u had.

In the end, Larry went bankrupt? when? I see on his website that he is still trading and the third party that tracks his performance is showing nice results both in stocks and commodities!

Sorry for my long reply.


@Mrs.Liegh,

All my condolences to you and your family.
Really sorry for the loss of your sister.
Enter Signature
  • #626
  • Dec 15, 2007 3:07am Dec 15, 2007 3:07am
Leighsww,

I think that I can speak for all of us here at FF that we are all deeply saddened at your loss.
May I offer my sincerest condolences, thoughts, and prayers to you and your family during this unexpected and difficult time. Please be strong and know that we are all thinking and praying for you.

Sincerely,

ph
trading naked.......
  • #627
  • Dec 15, 2007 3:16am Dec 15, 2007 3:16am
Quoting fti
These ECNs would be lucky if they can get to the corp desks,
and for most banks, for 10.000 USD they would direct you to maybe counter 10 at the banking hall.

So I cannot see how these ECNs can be linked to banks esp the spot desks.
Since you seem to be unfamiliar with the ECNs, let me start out by saying that much has changed in this aspect of the FX environment in the past 1-3 years. Access to institutional-level spreads and liquidity, what would once be thought impossible just a few short years ago, is in fact readily available to the retail trader these days.

Take for instance, InteractiveBrokers' ECN (IdealPro), which connects directly to 7 interbank dealers. Spreads on their EUR/USD book are as low as 0.5 pip during active market hours, with 40MM euros on the inside spread. From a spread perspective, that is just as comparable to EBS (though the size on the EBS book is obviously higher). At the same time, IB will accept orders as low as $25k USD, and an order of that size is treated just the same as an order for 200 lots. All client orders are fully interactive with the interbank book on their ECN.

I have traded on a number of institutional ECNs (Currenex, HotSpot FXi, Lava, etc) where the minimum deal size is typically $1MM. The barriers to entry for trading on these platforms has also come down, some prime brokers offer access to tier 1 Currenex pools with a starting account as low as $35k.
  • #628
  • Dec 15, 2007 3:22am Dec 15, 2007 3:22am
Leighsww,

I am deeply sorry to hear the news. My sincere condolences to you and your family.

best regards
pipal
  • #629
  • Dec 15, 2007 3:51am Dec 15, 2007 3:51am
Quoting Gnat
Hallo fti and fellows!

Please note one of my old posts on forexbastards: #436

This is not really a sound and balanced reference in any way.

I am also working on a good MT4 platform with ECN standards and am talking to the owner on skype from time to time. No promises here, but I guess he will get things done. They have reprogrammed the MT4 basis into C++ on their own servers and have a long term history on options and futures, so they also apply different standards already.
So far it seems possible to use MT4 or three other platforms on their servers with ECN spreads on large accounts. But he seems to be open to group solutions also. (I am not an IB ... I just needed something for ME fast as I completely share the dislike of fti on what they do to us!)
As soon as I get somewhere I will let people know. And there are no brokers in SG, Germany, France or Japan as the regulations would make their kind of game illegal I guess. So only with a sound background like Deutsche Bank they are going forward, but are not good at charting and are very expensive.

In fact I also looked at FXLQ until they were closed by the NFA. Therefor I am in for more due dilligence now on all the possible players.

Will keep you posted and will re-read a lot on the weekend to not get the whip here on the AOW .

Ciao
Gnat

Eidt: Best retail brokers out there seem to be based in the UK, as the regulation seems sound, but not too tight!


Yes please keep us informed that would be greatly appreciated

cheers
  • #630
  • Dec 15, 2007 3:55am Dec 15, 2007 3:55am
Quoting doremi
Mdm Leigh,

I'm sorry to hear about your sister's sudden departure.....may the Lord be with you and her family. Life has to go on......hope to see you soon.


Yes very sad to hear my condolences to you and your family.
  • #631
  • Dec 15, 2007 4:01am Dec 15, 2007 4:01am
My deepest condolences to you and your family in this terrible time leigh.
  • #632
  • Dec 15, 2007 4:59am Dec 15, 2007 4:59am
Condolences, Leigh.
Still waters run deep
  • #633
  • Dec 15, 2007 7:56am Dec 15, 2007 7:56am
Quoting fti
@ sitoca
For your second question.
It would be possible, that if you knew that you were wrong in the first place. that you would take a wrong trade.
You took the trade because you didn't know you were wrong.
Actually, I assume that every trade I entered is wrong until proven correct by the market hence I always trade defensively with lots of babysitting (monitoring).

Quote
By the time you realised that you were wrong , the market must have moved against you, right?
So you decide with whatever decision process that you should turn "into the wind".
If markets does retrace after you turn, you would be in another wrong bus.
or If the markets were in a congestion pattern you may continue to keep turning and keep getting on the wrong buses.
As matter of fact , after a few bad turns , you would probably be road kill.
Does this make sense now?
Can someone who can articulate this better, help me out in explaining this point clearly.
Believe what you are saying is I will get run over from a) excessive trading and b) keep getting turn over by the market.

I agree especially on b) as I experienced this recently in the market due to the uncertainity but again I have a system to control this damage and limit myself. Also, the market is telling me something if I keep getting flip over.

Quote
Plaese provide me EFX's Sg contact, thanks.
You see when refco went down. the unemcumbered portions broke into 2 broker firms.
One is FXCM the other is MF Global (Man financials). They were supposed to use MT3.,
but I don't know what platform they are using. Seem no one knows last time I checked.
Maybe you would like to add your knowledge for my benefit?

regards
Don't think EFX has a Sg office but there is a long thread in the broker's section in this forum. Justin Leblang who is working for EFX will answer your questions. EFX Group is an affiliated introducing firm for MB Trading Futures, Inc (MBTF) that receives a volume based referral fee for its services.

I'm not sure of the amount and volume you are going to trade but if it is not too huge then EFX, in my opinion is good.

I'm personally using GFT which has been ok so far except that their spreads are not ideal for trading on the 5 min charts.

Why not trade the currencies futures since you have done that before with the bank? Are you worried about the slippage?
  • #634
  • Dec 15, 2007 8:23am Dec 15, 2007 8:23am
German engineering is the best if you can keep them out of the shop. I owned 2 in the past myself before you think I don't know from which I speak. Been to the BMW museum and took a factory tour right there in Munich.

These days Lexus/Toyota is a close 2nd in engineering but blows the Germans away with quality and reliability which are far more important.
  • #635
  • Edited 11:17pm Dec 15, 2007 8:55am | Edited 11:17pm
Hi Fti,

You mentioned that market makers move markets for various reasons such as stops sweeping....etc

From your experience or knowledge, what is the largest move in pips that is artificially created by them?

When is the period of lowest liquidity which makes it extremely easy for them to do it?

Is it true that liquidity tends to dry up during the Summer as well as in Dec - (think you have explained the Dec one before) ?

regards,
  • #636
  • Edited 10:13am Dec 15, 2007 9:24am | Edited 10:13am
[quote=fti;1760742]


@ Piters
Thanks for link.
Just to let U know, days where brokers can charge around $20 per mio, is history in interbank,
You ask these people to offer these rates to banks and they may have to turn tricks for a living.
PLease don't go there, Probably thats the reason they offering to high end retail.
If you are actively trading the bro may kill you book.
Why do you think most of the volume is done thru Reuters IDS and direct?

Maybe some, from interbank broking may like to comment on this.
daytrader, could you shed some light on this for our info.
Do you know whats the going bro for interbank broking now?
Piters Thanks anyway for info.

Hi fti,

1. I know what you're saying. I am not using them, but in term on fills, spreads, stability, so far they are one of the best platform. They are not cheap, still as in every business you can nagotiate with them. Any way you might look at this comments and reviews about the broker: http://www.forexpeacearmy.com/public....dukascopy.com
You can download and run 14 days trial DEMO account.

2. Second one is www.deltastock.com , I am testing now their demo account. They have 2 options, with dealing desk (with spread from 2 - 8) and with Level II dealing. You can contact them live, they are europe based, I don't know much about them, only I can point on this link and reviews http://www.forexpeacearmy.com/public...deltastock.com

3. MF Global Singapore Pte. www.mfglobal.com.sg email:[font=Arial][size=2][color=#0000ff][email protected][/color][/size][/font] or contact ph:65 6866 6333



Thank you for showing us some different ways.

Regards
  • #637
  • Dec 15, 2007 9:36am Dec 15, 2007 9:36am
Leighsww

My heartfelt condolences to you and your family on the untimely demise of your sister. May God rest her soul in peace !

Hope you recover from grief soon and get back to trading.
  • #638
  • Dec 15, 2007 9:57am Dec 15, 2007 9:57am
Leigh,
You are in my prayers.
  • #639
  • Edited 1:43pm Dec 15, 2007 1:12pm | Edited 1:43pm
Hello Everyone,

Thank you so much for your well wishes, prayers and condolences.

Please, there is no need to continue to post to do so as I have felt all your hearts and I just want you to all move on with the lessons and this thread as it was intended.

My family and I are strong and although we are hurting right now, we will recover and move on.

I will not be able to participate in this thread for a time, as our family has arrangements and such to take care of with my sister's passing, but as soon as I can, I will rejoin this thread (especially because I know that more whips and spankings will be needed ).

I had felt a need to at least let fti know why I wouldn't be able to start the lessons, cuz I made a commitment here and I didn't want to just disappear without an explanation.

Anyway, again, please no more need for posting your condolences, so please move on with the lessons.

Thank you all and much success with your trading!

P.S. And please remember (like in the sandpiper story) to ... live each day as if it were your last

* edited - I leave you with a video "If Tomorrow Never Comes" (fti had posted this song in a past post and it really touched my heart and hits home my feelings about telling those you love, you love them.)
  • #640
  • Dec 15, 2007 4:07pm Dec 15, 2007 4:07pm
Warm greetings to everyone!

Leig, before anything else, I have to say that you're one remarkable lady!

It's an incredible honour to to meet you all who read and/or contribute to this thread. My deepest respect for all of you, my friends.

@FTI
Being most honest and straight forward, I must admit that I haven't had an opportunity to meet a person of such wisdom before personally. And wise people I've seen a lot. Cognition. There is abundance of knowledge here. Your mentoring approach is invaluable. Having a mentor has been one of my deepest wishes. May our gratitude, support and willingness to learn be with you!

With kindest regards to everybody,

S.


P.S.:
I feel it would be polite to give you a humble background of why I'm here, if you allow. You're free to skip the following altogether.

---

I don't remember how exactly I discovered that thread, since FF was one of the last Forex related sites in my list of exploring from where I wasn't expecting much else than "The Holy Grail" type of threads, but I'm thankful to whatever power that has allowed me to be in the right time in the right place. I've been reading this thread for several days now and eventually got to a point where all past posts have been read.
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