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Silent Service Method

  • #2,521
  • Jul 1, 2009 8:43pm Jul 1, 2009 8:43pm
Quoting clockwork71
I rarely trade that pair, mainly because I don't like the spread. However, I have been trading forex via IB lately, and it's only 3-4 pips there....so maybe I will.

And NO - I would not enter a position the day before NFP.

Volume is light this week as it is.....

CW
I remember an old video of yours Chris where you said there were too many reasons to mention to not trade forex on IB.

Can I ask, what were those reasons, and what changed your mind?

Thanks,

Aaron

PS Happy 4th. Any time you guys want to return to the fold just send a letter to the queen. It's only a matter of time.
  • #2,522
  • Jul 1, 2009 8:53pm Jul 1, 2009 8:53pm
Quoting TiaForex
I remember an old video of yours Chris where you said there were too many reasons to mention to not trade forex on IB.

Can I ask, what were those reasons, and what changed your mind?

Thanks,

Aaron

PS Happy 4th. Any time you guys want to return to the fold just send a letter to the queen. It's only a matter of time.
As an IB user, I might be able to help with some negatives...
- minimum position sizes (not a biggie, but it will really affect a small time trader that is trading with 200 pip stops)
- commission (I think it's $2.50 minimum/trade)
- profits - I don't know the specifics, but I think the profits from your trades are put into your account in the other currency... which requires you to then make another trade to get them to $$$ (or whatever your base currency is)

CHARTS - this doesn't directly affect the trading, but the charts are still terrible.

Positives - if you are trading a larger size, then the smaller spread could outweigh the commission. Spreads in general are VERY nice. <1pip on majors quite often as I remember. Again, I haven't used IB to trade FX in a while, so this is all on memory.

No idea what could have changed to make him want to use them over Oanda, or basically anyone else, frankly... but you never know with a Buckeye.

Josh
  • #2,523
  • Jul 1, 2009 9:40pm Jul 1, 2009 9:40pm
Quoting kodflakes
So are these equilibrium points just 50% points? How do we find these?
Can you point out a couple more?
As per request...
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  • #2,524
  • Jul 1, 2009 9:41pm Jul 1, 2009 9:41pm
Quoting Diane
Thank you CW! That was useful information.

Had some smaller problems finding it due to spelling

http://en.wikipedia.org/wiki/Economic_equilibrium
http://www.investopedia.com/terms/e/equilibrium.asp

I will read more about it tomorrow.
Hey, what do you expect? English? I am an American after all.
  • #2,525
  • Jul 1, 2009 9:42pm Jul 1, 2009 9:42pm
Quoting drebin
Understood. In regards to spreads, how can you trade all pairs if you are concerned about the spread? I thought you traded all pairs available to you.

By the way,CW, your the man! Have a great holiday weekend!

Well.....it's more a matter of liking it the least. It's not that I won't trade it....just that I hated paying 12-15 pips.
  • #2,526
  • Jul 1, 2009 9:44pm Jul 1, 2009 9:44pm
Quoting TiaForex
I remember an old video of yours Chris where you said there were too many reasons to mention to not trade forex on IB.

Can I ask, what were those reasons, and what changed your mind?

Thanks,

Aaron

PS Happy 4th. Any time you guys want to return to the fold just send a letter to the queen. It's only a matter of time.

Hey - I would love to return to the fold. Our football is horrible. lol

I changed my mind because I started trading larger amounts. So it has become a little more practical. The charts are still horrible though. But I kept just enough money in my IBFX account to keep it open for charting.
  • #2,527
  • Jul 1, 2009 9:47pm Jul 1, 2009 9:47pm
Quoting Jduester
As an IB user, I might be able to help with some negatives...
- minimum position sizes (not a biggie, but it will really affect a small time trader that is trading with 200 pip stops)
- commission (I think it's $2.50 minimum/trade)
- profits - I don't know the specifics, but I think the profits from your trades are put into your account in the other currency... which requires you to then make another trade to get them to $$$ (or whatever your base currency is)

CHARTS - this doesn't directly affect the trading, but the charts are still terrible....

Spreads are great -

Here's a sample and keep in mind it's in Asia, right before Non-Farm Payroll.....so these are BAD SPREADS.

EUR/USD 1 pip
USD/JPY 1 pip
HKD/USD 1 pip
NZD/USD 3 pips
GBP/JPY 2.5 pips
USD/CAD 3 pips
GBP/USD 2 pips


And to be honest, under normal circumstances....you could cut half a pip of each one of these.

CW
  • #2,528
  • Jul 2, 2009 1:13am Jul 2, 2009 1:13am
CW could you put together some sort of graphic showing the pin formations that influence pair direction or causes you to enter a position.
And
Explain what each pin is telling us.

I know they are scattered through this thread, but here in one place it would be of great benefit to all of us..

Thank you..
  • #2,529
  • Jul 2, 2009 1:44am Jul 2, 2009 1:44am
Quoting SaepeExertus
CW could you put together some sort of graphic showing the pin formations that influence pair direction or causes you to enter a position.
And
Explain what each pin is telling us.

I know they are scattered through this thread, but here in one place it would be of great benefit to all of us..

Thank you..
Read the thread, it's all there. It works, put in the effort and you will be rewarded.
  • #2,530
  • Jul 2, 2009 2:37am Jul 2, 2009 2:37am
Quoting Icehocey77
Read the thread, it's all there. It works, put in the effort and you will be rewarded.
Agreed. This thread is only 2500 posts! Wait till it's 20K+ before thinking about a summary... Plus, CW put together a pdf somewhere in the thread too. Good stuff, btw.
_____________________________________________

I've decided I will not take any trades in the 4hr prior to NFP... Wondered if this aligned with how others do it. I have no qualms about taking a daily trade the night before, but being new to 4hr, I don't know what is [common] practice. So I'll start with this...


Josh
  • #2,531
  • Jul 2, 2009 2:49am Jul 2, 2009 2:49am
Quoting clockwork71
Hey, what do you expect? English? I am an American after all.
I eschxpekt nothiing...
  • #2,532
  • Jul 2, 2009 4:01am Jul 2, 2009 4:01am
CW and Diane,



There is more to reading than correct spelling....

Only "Great Minds" can read this:

fi yuo cna raed tihs, yuo hvae a sgtrane mnid too Cna yuo raed tihs? Olny 55 plepoe out of 100 can. i cdnuolt blveiee taht I cluod aulaclty uesdnatnrd waht I was rdanieg. The phaonmneal pweor of the hmuan mnid, aoccdrnig to a rscheearch at Cmabrigde Uinervtisy, it dseno't mtaetr in waht
oerdr the ltteres in a wrod are, the olny iproamtnt tihng is taht the frsit and lsat ltteer be in the rghit pclae. The rset can be a taotl mses and you can sitll raed it whotuit a pboerlm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe. Azanmig huh? yaeh and I awlyas tghuhot slpeling was ipmorantt! if you can raed tihs forwrad it

You see...
Unus pro omnibus, omnes pro uno
  • #2,533
  • Jul 2, 2009 4:06am Jul 2, 2009 4:06am
suprisingly easy to read moneda.... also for those not in the US, myself included, non farms is tonight due to 4th of July weekend i presume
Grabbing the bull by the horns!
  • #2,534
  • Jul 2, 2009 4:43am Jul 2, 2009 4:43am
Quoting whitegoodman
suprisingly easy to read moneda.... also for those not in the US, myself included, non farms is tonight due to 4th of July weekend i presume
I'm not native english too as most of you may know already but this was surprinsingly easy to read. I was not aware of how fast the brain can match the scrambled letters to the correct word.

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #2,535
  • Jul 2, 2009 5:37am Jul 2, 2009 5:37am
fgginrg anzimang
  • #2,536
  • Jul 2, 2009 5:52am Jul 2, 2009 5:52am
Quoting moneda
CW and Diane,



There is more to reading than correct spelling....

Only "Great Minds" can read this:

fi yuo cna raed tihs, yuo hvae a sgtrane mnid too Cna yuo raed tihs? Olny 55 plepoe out of 100 can. i cdnuolt blveiee taht I cluod aulaclty uesdnatnrd waht I was rdanieg. The phaonmneal pweor of the hmuan mnid, aoccdrnig to a rscheearch at Cmabrigde Uinervtisy, it dseno't mtaetr in waht
oerdr the ltteres in a wrod are, the olny iproamtnt tihng is taht the frsit and lsat ltteer be in the rghit pclae. The rset can be a taotl mses and you...
LOL.....here's another brain teaser while waiting for the NFP storm to pass by:

"Aoccdrnig to a rseearch sduty at Cmabrigde Uinervtisy, it deosn't mttaer in waht oredr the ltteers in a wrod are, the olny iprmoatnt tihng is taht the frist and lsat ltteer be in the rghit pclae. The rset can be a toatl mses and you can sitll raed it wouthit porbelm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe."

Now let's get back to trading!
  • #2,537
  • Jul 2, 2009 5:56am Jul 2, 2009 5:56am
Quoting daveadamsbds
fgginrg anzimang
geart stfuf
  • #2,538
  • Jul 2, 2009 5:59am Jul 2, 2009 5:59am
Quoting moneda
CW and Diane,



There is more to reading than correct spelling....

Only "Great Minds" can read this:

fi yuo cna raed tihs, yuo hvae a sgtrane mnid too Cna yuo raed tihs?...
and even I can read it....
  • #2,539
  • Jul 2, 2009 5:59am Jul 2, 2009 5:59am
Quoting tazzam72
Hi All ,

Hello CW , I am short GBPCHF what do you think?
Hit TP
  • #2,540
  • Jul 2, 2009 6:04am Jul 2, 2009 6:04am
Quoting Jduester
Agreed. This thread is only 2500 posts! Wait till it's 20K+ before thinking about a summary... Plus, CW put together a pdf somewhere in the thread too. Good stuff, btw.
_____________________________________________

I've decided I will not take any trades in the 4hr prior to NFP... Wondered if this aligned with how others do it. I have no qualms about taking a daily trade the night before, but being new to 4hr, I don't know what is [common] practice. So I'll start with this...


Josh
Well, I did take the CHF.JPY 4 hr trade today. Have now moved stop to BE+1, so it's a free trade now.
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