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Technical Analysis Fallacy

  • #5,561
  • Aug 20, 2008 5:41am Aug 20, 2008 5:41am
Quoting Jairo
Hi resistance,

- low costs is very attractive for me . But I have seen many complaints about BIG (and frequent) spread fluctuations with them. This would be a disaster for scalping. Never tried, cannot tell anything.
- flexible lots - probably their best feature.
- bid-ask price on charts - if you like this, MT4 platform can be configured to show both lines, too. Need coding to show the numbers.
- higher leverage - very good... and dangerous game.

Has Oanda any restrictions on scalping? Do they really take the other side of your trades, as some people argue?

Thanks and good trading.

Hi there!

I just spoke to them about scalping. they said they only consider latency trading (news trading) as scalping. They will modify your trade afterwards (!) if they feel you got filled in at a better place during news events. But they dont have a rule like less than 5 pips/ trade or 3-4 minutes b/w open and close is scalping or so. I dont know much about wether they take the opposite side of the trade, what i heard is they do if theycant provide liquidity just to keep instant execution.

regards


edit: i never saw big spread fluctuations, only during news time but I guess if you trad fti's method that doesnt concernes you too much
  • #5,562
  • Aug 20, 2008 6:28am Aug 20, 2008 6:28am
Quoting resistance
Hi there!

I just spoke to them about scalping. they said they only consider latency trading (news trading) as scalping. They will modify your trade afterwards (!) if they feel you got filled in at a better place during news events. But they dont have a rule like less than 5 pips/ trade or 3-4 minutes b/w open and close is scalping or so. I dont know much about wether they take the opposite side of the trade, what i heard is they do if theycant provide liquidity just to keep instant execution.

regards


edit: i never saw big spread fluctuations, only during news time but I guess if you trad fti's method that doesnt concernes you too much
hi again

sorry if I'm missing something here, but i don't understand this broker issue...
I had no gaps on my charts last night..I have zero spread on my current e/u trade(just as well as, floating p/l not too healthy), I pay no commissions and i have found instant executions on orders both opening and closing.

I never trade anywhere near major news announcements so cannot comment. Do you think this is because I am a small player (microscopic in fact)

joy
  • #5,563
  • Aug 20, 2008 6:52am Aug 20, 2008 6:52am
Quoting jest1081
hi fti,

I would like to ask you why you think he will die soon?
was it because the majors were not moving in a correlative fashion?

I noticed as eur and gbp sells the Yen barely moved 20pips.
now that sets me thinking, someone was using the crosses to make these wonders.

is that why you think the current vol was not normal?
Hi jest,
Yesterday there was gross manipulation or gross syste failure,
I can't tell which is which. But what I know is we had a outside day key reversal as expected.

Today the crossass came back like you said moved the continental currencies, and kept hedging for ammo on the yen. Take a look at how the yen crosses are being proped up. I am ready with strategies to counter him in so far as my exposures are concerned.

The pull back in the Eur/USD notwithstanding the cable , I suspect thin liquidity. Lets see how it pan out.
I got some losses back already and am preparing for attack seq , if and when it comes. There are no important figs so, we'll see if ben does get his bear firs by friday.LOL

Am on longest day battlestation, The reversal, I trust it only the short charts are confusing. Waiting for short charts to align for attack. Let's see.

regards
  • #5,564
  • Aug 20, 2008 7:01am Aug 20, 2008 7:01am
Quoting joypips
hi again

sorry if I'm missing something here, but i don't understand this broker issue...
I had no gaps on my charts last night..I have zero spread on my current e/u trade(just as well as, floating p/l not too healthy),
the only zero spread occasion i know about is news time with an ecn

I pay no commissions
thats possible if your position size is less than the limit for charging comission. (depends on broker, dunno what you use)

and i have found instant executions on orders both opening and closing.
thats normal

I never trade anywhere near major news announcements so cannot comment. Do you think this is because I am a small player (microscopic in fact)
could be

joy
regards
  • #5,565
  • Edited 7:16am Aug 20, 2008 7:02am | Edited 7:16am
BATTLESTATIONS !!!!
Inserted Video


Inserted Video
  • #5,566
  • Aug 20, 2008 7:09am Aug 20, 2008 7:09am
Quoting fti
BATTLESTATIONS !!!!
i supected that would come from you...looks like the bears are back in full swing!
  • #5,567
  • Aug 20, 2008 7:27am Aug 20, 2008 7:27am
Hey guys keep cool!

The last EURUSD upmove was strongly correlated to an upmove in CrudeOil (some fears concerning storms ...).

But that's always the Chicken and egg dilemma ...
  • #5,568
  • Aug 20, 2008 7:33am Aug 20, 2008 7:33am
Quoting fti
BATTLESTATIONS !!!!
http://www.youtube.com/watch?v=xzktURtW6V4

http://www.youtube.com/watch?v=3UzRzlP6BM0
@Hi, FTI

How are you?

I also suspect that E/U is making a bottom. If the following two days E/U does not make new low and break above 1.48 with strong force and can sustain for some time. A bottom be confirmed (another head & shoulders?).

I see G/U, U/C, and A/U are also making bottoms. Of couse not confirmed. So it is safer to wait for confirmation to long these pairs.

But I realy doubt E/U's rebound will go up in straight way . I think it will be zig-zag style, since the last huge fall of 1600 pips, the long term of E/U has changed, 1.60 maybe multi years high, if fundemental factors not so un-expected.

@Joypips:

Thanks for your bronze medal, but I need a golden one.

Yes, Austrania may have the fisrt place of golden medals in terms of per capita. Maybe I will file a report to Int'l Olympics Commttee, telling them this issue.

BTW, when you talk some about China, any trievel thing if multiplied by 1.3 billion, it will become huge, and big things if devided by 1.3 billion, it will be tiny.

Good trading.
  • #5,569
  • Aug 20, 2008 7:58am Aug 20, 2008 7:58am
Quoting piccolo
InterbankFX considers scalping when you open and close your positions within 3 minutes. Just FYI.
Fine, let's take that as a fact. What do they do with that "labelling"? I have made dozens of experiments in my account, including a lot of scalping. Never experienced any of the problems some people complain about. They say they have no restriction on scalping. My personal experience confirms that. By the way, I think they shouldn't. They are taking a lot of spread!

About fees: I don't pay anything above 2 pips per trade. That is my whole cost for this deadly game. I am happy with that but think it could be smaller (have put a little pressure for that, indeed ). Other brokers charge less, but there are hidden costs...

Just my $0.50. Happy trading.
  • #5,570
  • Aug 20, 2008 8:05am Aug 20, 2008 8:05am
Quoting Jairo
Fine, let's take that as a fact. What do they do with that "labelling"? I have made dozens of experiments in my account, including a lot of scalping. Never experienced any of the problems some people complain about. They say they have no restriction on scalping. My personal experience confirms that. By the way, I think they shouldn't. They are taking a lot of spread!

About fees: I don't pay anything above 2 pips per trade. That is my whole cost for this deadly game. I am happy with that but think it could be smaller (have put a little pressure for that, indeed ). Other brokers charge less, but there are hidden costs...

Just my $0.50. Happy trading.
Jairo, I had this info from their support 2 years ago, so some things might have changed but they also have the reputation for lying in the face. I still think it is a good broker and I am still trading with them.
  • #5,571
  • Aug 20, 2008 8:20am Aug 20, 2008 8:20am
Quoting resistance
Hi there!

I just spoke to them about scalping. they said they only consider latency trading (news trading) as scalping. They will modify your trade afterwards (!) if they feel you got filled in at a better place during news events. But they dont have a rule like less than 5 pips/ trade or 3-4 minutes b/w open and close is scalping or so. I dont know much about wether they take the opposite side of the trade, what i heard is they do if theycant provide liquidity just to keep instant execution.

regards


edit: i never saw big spread fluctuations, only during news time but I guess if you trad fti's method that doesnt concernes you too much
Modify afterwards... This is really bad. Never happened to me in the few news trades I tried. Anyway, this practice seems unacceptable to me and I think should be forbidden by regulators. You have account history statements to prove that. Something to remember if I ever think about trading news again. Thank you for the information.
  • #5,572
  • Aug 20, 2008 8:22am Aug 20, 2008 8:22am
epic battle full of drama!

oh my god! fti, if the rogue trader is really trading this...he must be peeing in his pants right now. lol
  • #5,573
  • Aug 20, 2008 8:26am Aug 20, 2008 8:26am
Brokers need a certain amount of time to bundle orders and off set them, unless they can match inhouse, they have to take the opposite side.

What broke-rs don't like is being abused, trying to catch them off quote. You make money, then you make money, just dont try to steal. Everyone wants evertything perfect, instant fills, no reqoutes, stops honored, regardless of market activity at the time.

They have to make money to operate just like us. But on the flip side you dont want a br-oker purposely cheating you either.

There's lots more to consider, interest earnings and overall safety of funds, remember refco.

If you don't trust your bro-ker, find one you do, but they all have their good and bad sides, it's no different than other venues of trading

regards
  • #5,574
  • Aug 20, 2008 8:29am Aug 20, 2008 8:29am
crude USD correlation is 90% on the historical basis, and recently the correlation has been lost, which indicates that ther rest of the year correlation should come back in tact.
lol
  • #5,575
  • Aug 20, 2008 8:59am Aug 20, 2008 8:59am
Quoting jest1081
epic battle full of drama!

oh my god! fti, if the rogue trader is really trading this...he must be peeing in his pants right now. lol
Hi jest,
I got my losses back + book is up already.

lets see , how far back it comes.
I think he "quak bak" some

Next move "挐他們得老命"
  • #5,576
  • Aug 20, 2008 9:21am Aug 20, 2008 9:21am
Wow - nice show so far.
Did some very profitable dance on USDJPY short side.
Waiting for the second wave/attack ..
  • #5,577
  • Aug 20, 2008 9:39am Aug 20, 2008 9:39am
another battle going on! oh my god today is blood bath day lol
  • #5,578
  • Aug 20, 2008 9:41am Aug 20, 2008 9:41am
Quoting jest1081
another battle going on! oh my god today is blood bath day lol
I here ya on that.
Squared up and waiting on the next step for the day.
  • #5,579
  • Aug 20, 2008 9:41am Aug 20, 2008 9:41am
Quoting MaMood
Wow - nice show so far.
Did some very profitable dance on USDJPY short side.
Waiting for the second wave/attack ..
Hi MaMood,
they wanna test both ways.
Do the attack after lunch break.
This just dang brokers playing screen,
It didn;t go any where, just wide quotes only.
Don't be fooled.
This is the most unethical way of quoting, no balls kind of quotes.
anybody hit. they give the worst fill. Excuse fast markets and all that bullshit.
Thats what you get with trading with dealers with no ethics.
NO CLASS, & NO HONOUR.
Interbank was just wide. no liquidity.

This signs that lafter lunch will be battle of no liquidity and fast shading.
So keep size managable.

regards
  • #5,580
  • Aug 20, 2008 9:42am Aug 20, 2008 9:42am
JMHO, but there's no sustained move thus far today, chances of breakout are getting fewer, guerrilla tactics needed dont overstay.
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