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GBPJPY scalpers

  • #621
  • Mar 18, 2008 3:41am Mar 18, 2008 3:41am
Quoting VagyokC4

I recently purchased eSignal and noticed that the price action is way different than on my trading platform (MT/ODL) For instance, eSignal shows a low of XX for a certain bar, but MT doesn't show this. Also, I set profit target using eSignal, and they hit in eSignal (Spike), but on MT, it does not (unless the price does more that spike... then it shows)

I noticed the same thing last week. Spikes will take out my SL but spikes will not trigger my TP unless PA more than spikes the TP as you stated. I too use ODL w/MT. Think I will investigate changing to eSignal today.
  • #622
  • Mar 18, 2008 3:49am Mar 18, 2008 3:49am
Looks like there are only 6 FOREX brokers that work with eSignal. Any recommendations?

Regards,
Dave
  • #623
  • Mar 18, 2008 4:11am Mar 18, 2008 4:11am
I recently read that MT is a load of crap. The report was very critical on how the data is substantially different from other vendors and how spikes seem to cause problems which were not evident elsewhere. The problem is that almost 97.5% of the dealers are crooks. I have been using the GFT platform and have not experienced any issues. However, I also have a small account which means I go unnoticed..
  • #624
  • Mar 18, 2008 5:47am Mar 18, 2008 5:47am
Hi, guys,
just found this indi, what do you think about it?
seems to confirm pretty well the rsi actions.

just forget something,
how do I put the ma 50 over the rsi window in mt4, do someone can help me?
Attached File(s)
File Type: ex4 Laguerre2-ACS1.ex4   7 KB | 467 downloads
I don't say
  • #625
  • Mar 18, 2008 6:30am Mar 18, 2008 6:30am
Quoting dragosd1
Hi, guys,
just forget something,
how do I put the ma 50 over the rsi window in mt4, do someone can help me?
drag a moving average indicator over the rsi indicator window. And in the parameters, select "Apply to: Previous indicator data"
  • #626
  • Mar 18, 2008 6:40am Mar 18, 2008 6:40am
Quoting dragosd1
Hi, guys,
just forget something,
how do I put the ma 50 over the rsi window in mt4, do someone can help me?
or better... use this indicator... which is already ready for setting the MA. which is also multiframe.. for example you can see the RSI of the 1H timeframe in a 15M timeframe... like this example picture
Attached Image (click to enlarge)
Click to Enlarge Name: rsimtf.jpg Size: 80 KB
Attached File(s)
File Type: mq4 rsi_ema_mtf.mq4   3 KB | 483 downloads
  • #627
  • Mar 18, 2008 7:09am Mar 18, 2008 7:09am
I've created a version of rapid rsi for metatrader similar to the one Malcolmb has in esignal, wih the green and red trigger zones.
What do you think? is it the same? Can you post Malcolmb a 1H chart to compare?
Attached Image (click to enlarge)
Click to Enlarge Name: rsi rapid emda.jpg Size: 136 KB
  • #628
  • Mar 18, 2008 7:55am Mar 18, 2008 7:55am
[quote=Somboed;1909048]
Quoting rrram2
I too see it much like you. Stop losses are a waste of money. But this last run down wiped me out. I too had TP's up into 208 and far too many long in the 207 range, I was long all the way down into 199 but they ran me out of money and wouldn't let me put anymore in as they limit monthly credit card charges to 5G.


Were you at 400:1 leverage with no stops in this last move down?
Yes and wasn't home and left the wife at the helm, who didn't listen when I said don't buy anymore long. And she ran me out of margin, overbuying,
And then the broker wouldn't take any more money for margin because cc charges axceeded $5000 for the month.

I would do it the same way again. And had I made it through the bottom,
which I would have if I was sitting here, I would have started selling a few lots not all. And if need be I would have wired money to the broker.

I would do the same thing again with the exception of leaving another with my trading client open.
  • #629
  • Mar 18, 2008 8:00am Mar 18, 2008 8:00am
Quoting entropy
Looks like there are only 6 FOREX brokers that work with eSignal. Any recommendations?

Regards,
Dave
Well I had used forex.com for years and what was awesome about them,
wasn't very much, but with $1000 in the account they give you a free esignal feed with the esignal charting software which is awesome.

The software is like $4000 and the feed is like $100/ mo.

As far as good borkers, I am with FXSOL now. And the thing about them is that thier charting software is pretty good and they allow HEDGEing.
And they don't stick you with that FIFO BS.

I have an account at MB trading, but have never been able to get too proficient with thier trading platform, but I love thier market depth indicator and they have the best spreads, but they charge $10 commission on a standard lot RT. But since thier spread in GBP/JPY is normally only 3-5 I guess its worth it.

Elijah
  • #630
  • Mar 18, 2008 8:22am Mar 18, 2008 8:22am
Quoting emda
drag a moving average indicator over the rsi indicator window. And in the parameters, select "Apply to: Previous indicator data"
thank's a lot emda for your help!
I don't say
  • #631
  • Mar 18, 2008 8:53am Mar 18, 2008 8:53am
Quoting malcolmb14
199 ?

Please ignore this guys postings......do not follow him .

rsi sell trigger being generated . short 194.8
how do you like me now
  • #632
  • Mar 18, 2008 9:10am Mar 18, 2008 9:10am
Quoting 59fender
how do you like me now

Big PROPS to 59fender
  • #633
  • Mar 18, 2008 10:19am Mar 18, 2008 10:19am
Quoting 59fender
watch for pullback to 194.85 then a move to 197.00
The only issue i had with you at that time you were calling pulback to 194.85 then go long. Accroding to time of post and your call you had the right idea , but a 200 pip draw down. I trade 10 - 20 lots ... that is a BIG draw down.

The news and likely hood of interest cuts 1% saved your rear end. .... without the interest rate annoucement today we would have gone down another 1000 pips by now.

Following day Lehman stock drops 30% , Goldman Sachs take 3 bil hit.

The markets are VERY news driven right now.



I have done my pips for today with only 20 pips draw down MAX.
Blogging daily now at www.volume.zone
  • #634
  • Mar 18, 2008 10:27am Mar 18, 2008 10:27am
Quoting 59fender
194.85 adding to my long
But you were adding to long .. compunding your draw dwon.

I have turned 1k into 70 k 9 trades , compounding profit with little draw down on the account. You would be wipedout.

I hate these traders that say 200 pips is an ok draw down.

The double bottom on the 60 min confirmed the long was ok. At the time of your call there was no confirmation other than a pullback on a bear trend.

Treat forex like the wild west and there will be a faster gun slinger out there than you everytime.

The LOW RISK trade would have been to wait for the confirmation of the double bottom.

Grade for your trade ... C+
Blogging daily now at www.volume.zone
  • #635
  • Mar 18, 2008 10:32am Mar 18, 2008 10:32am
Malcolmb so whats your take on DOW after the rate cut? Probably a spike initially and then a sell off?
  • #636
  • Mar 18, 2008 10:34am Mar 18, 2008 10:34am
Quoting vinesh2
Malcolmb so whats your take on DOW after the rate cut? Probably a spike initially and then a sell off?

I think so.

I will trade only 30 min after the news.

Any longs protect the profit .. move up stops before the news.
Blogging daily now at www.volume.zone
  • #637
  • Mar 18, 2008 10:45am Mar 18, 2008 10:45am
Money Management

Please look back in my postings on MM.

I know one trader got stuck in shoirt off the bottom yesterday and was hedging / scalping longs,

Others think 200 - 300 pips draw down is ok.

If you one wants to trade with out getting the perfect entry or waiting for market to settle after ground shaking news , trade something a little less volatile than gbpjpy.

200 - 300 pips draw down , and then the market keeps on tanking .. that is how accounts are killed. Your mind set will not allow you to allow the stop to fill ... so you keep moving it down and down. I have been there , done that , cost me 4 k when I started.
Blogging daily now at www.volume.zone
  • #638
  • Mar 18, 2008 10:47am Mar 18, 2008 10:47am
Quoting malcolmb14
Money Management

Please look back in my postings on MM.

I know one trader got stuck in shoirt off the bottom yesterday and was hedging / scalping longs,

Others think 200 - 300 pips draw down is ok.

If you one wants to trade with out getting the perfect entry or waiting for market to settle after ground shaking news , trade something a little less volatile than gbpjpy.

200 - 300 pips draw down , and then the market keeps on tanking .. that is how accounts are killed. Your mind set will not allow you to allow the stop to fill ... so you keep moving it down and down. I have been there , done that , cost me 4 k when I started.
NO question - accept the fact you are on the wrong side of the trade and move on.
History is written by the victors.
  • #639
  • Mar 18, 2008 10:49am Mar 18, 2008 10:49am
"Grade for your trade?"

I like your style. I've been following your posts. Hope to learn a lot.

Regards....

Quoting malcolmb14
But you were adding to long .. compunding your draw dwon.

I have turned 1k into 70 k 9 trades , compounding profit with little draw down on the account. You would be wipedout.

I hate these traders that say 200 pips is an ok draw down.

The double bottom on the 60 min confirmed the long was ok. At the time of your call there was no confirmation other than a pullback on a bear trend.

Treat forex like the wild west and there will be a faster gun slinger out there than you everytime.

The LOW RISK trade would have been to wait for the confirmation of the double bottom.

Grade for your trade ... C+
Regards, Android.
  • #640
  • Mar 18, 2008 11:35am Mar 18, 2008 11:35am
Nice shrt scalping on 5M from 198.60 - 198.30 ish.
History is written by the victors.
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