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Silent Service Method

  • #3,141
  • Jul 14, 2009 8:42am Jul 14, 2009 8:42am
Quoting hel13rock
............In terms of getting up in the middle of the night, I've been thinking about looking into different brokers and their daily candle close times.
hel13rock and advfntrader,

I'm UK aswell, and had the same thoughts as you. I personally don't know of any platforms that close their days at 8pm or 9pm UK.

I have a demo account with FXPro and they close their days at 10pm UK. I know IBFX and BROCO (which I use) close at 11pm. From the J16 thread it seems most use an 11pm UK close and some, mainly europeans I think, a 10pm closing platform.

The way I trade is to not lose sleep . I've leant toward my BROCO platform and the 11pm close because the daily close isn't tooooooooo bad but mainly because their H4 candles close at 7am, 11am, 3pm and 7pm. Much more convenient than a 6am start for me . Also BROCO cover a ton of pairs, indices and commodoties. Loads of choice if you're that way inclined.

All these are for charts only.

Just my two penneth, hope its of some use

TonyH
  • #3,142
  • Jul 14, 2009 8:47am Jul 14, 2009 8:47am
I don't really have time this morning to get entirely involved in the candle closing time debate, but let me say this:

It doesn't matter what time your daily closes, it's what the candle is saying that matters. This is why I don't sweat trading "pinbars" that are a few pips off.....it always comes back to support and resistance.

I will provide some examples a little later today....For now, I have a Chinese couple waiting for me to paint their interior. ;-)

CW
  • #3,143
  • Jul 14, 2009 9:14am Jul 14, 2009 9:14am
Quoting clockwork71
I don't really have time this morning to get entirely involved in the candle closing time debate, but let me say this:

It doesn't matter what time your daily closes, it's what the candle is saying that matters. This is why I don't sweat trading "pinbars" that are a few pips off.....it always comes back to support and resistance.

I will provide some examples a little later today....For now, I have a Chinese couple waiting for me to paint their interior. ;-)

CW
The unfortunate thing is that a different closing time will give you a different PA which could put you into or put you off from a trade just because of the shape on your particular feed.
  • #3,144
  • Jul 14, 2009 9:17am Jul 14, 2009 9:17am
Quoting ajhill
hel13rock and advfntrader,

I'm UK aswell, and had the same thoughts as you. I personally don't know of any platforms that close their days at 8pm or 9pm UK.

I have a demo account with FXPro and they close their days at 10pm UK. I know IBFX and BROCO (which I use) close at 11pm. From the J16 thread it seems most use an 11pm UK close and some, mainly europeans I think, a 10pm closing platform.

The way I trade is to not lose sleep . I've leant toward my BROCO platform and the 11pm close because the daily close isn't tooooooooo bad but mainly...
Does broco offer metatrader micro accounts and what is the minimum deposit? I've been looking for a good broker with both of the above for commodities and cfds.
  • #3,145
  • Jul 14, 2009 9:41am Jul 14, 2009 9:41am
Anyone care for a New Forex Broker? I am happy to recommend my Forex Broker, he will hurt your money down...........can you actually believe this, look at the tails inside the yellow ellipse? Last time it was the EUR/USD now the USD/JPY......i wonder which pair is next.

This is the 4-hr timeframe....anyone know of a good mt4 broker that has a good name?
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy (4-hr tf).gif Size: 24 KB
  • #3,146
  • Jul 14, 2009 9:43am Jul 14, 2009 9:43am
Quoting hel13rock
Does broco offer metatrader micro accounts and what is the minimum deposit? I've been looking for a good broker with both of the above for commodities and cfds.
Like I said I don't trade with them, so I'm afraid I don't know the answer. Be aware though that Broco are Russian based, or somewhere thereabouts.

Sorry I couldn't be more help on this point.
  • #3,147
  • Jul 14, 2009 10:08am Jul 14, 2009 10:08am
Quoting Danku
Anyone care for a New Forex Broker? I am happy to recommend my Forex Broker, he will hurt your money down...........can you actually believe this, look at the tails inside the yellow ellipse? Last time it was the EUR/USD now the USD/JPY......i wonder which pair is next.

This is the 4-hr timeframe....anyone know of a good mt4 broker that has a good name?
You mean you didn't short those moves down?
  • #3,148
  • Jul 14, 2009 10:09am Jul 14, 2009 10:09am
I'm a London trader too and I use ODL Metatrader. They close their charts at midnight GMT which I think is very logical.

Bear in mind we are currently BST (British Summer Time) which is GMT+1.

So my ODL charts currently give 4hr closes at 9am, 1pm and 5pm for the London session.
If it's too good to be true, it probably is.
  • #3,149
  • Jul 14, 2009 10:26am Jul 14, 2009 10:26am
I'm currently on ODL as well, so daily close is at 1am UK time...

thing is though I place trades via another spreadbet broker on a different platform, so the charts need to look the same

Quoting SimonK
I'm a London trader too and I use ODL Metatrader. They close their charts at midnight GMT which I think is very logical.

Bear in mind we are currently BST (British Summer Time) which is GMT+1.

So my ODL charts currently give 4hr closes at 9am, 1pm and 5pm for the London session.
  • #3,150
  • Jul 14, 2009 10:26am Jul 14, 2009 10:26am
Quoting hel13rock
You mean you didn't short those moves down?
Went long off the low of those tails....
  • #3,151
  • Jul 14, 2009 11:44am Jul 14, 2009 11:44am
Here's an update to last weeks J&J chart. Even though this feed is for CFD's, it still shows the price of the underlying.

It's hard for me to say exactly what's going on here, but our two possibilities are clear rejection, and an excellent short opportunity, or break-retest-continuation for a long.


http://i32.tinypic.com/2q3oiyr.png

http://i30.tinypic.com/2rcx0lk.png
  • #3,152
  • Jul 14, 2009 11:59am Jul 14, 2009 11:59am
http://i31.tinypic.com/raxg7p.png
  • #3,153
  • Jul 14, 2009 12:05pm Jul 14, 2009 12:05pm
Quoting Danku
Anyone care for a New Forex Broker? I am happy to recommend my Forex Broker, he will hurt your money down...........can you actually believe this, look at the tails inside the yellow ellipse? Last time it was the EUR/USD now the USD/JPY......i wonder which pair is next.

This is the 4-hr timeframe....anyone know of a good mt4 broker that has a good name?
If this is a live account and they don't remove such spikes and you're bothered on a regular basis contacting their support to put the orders on again I would recommend that you leave them NOW.

I would not say one of the following becomes your friend but I read a lots of posts till now and the most commonly used MT4 brokers are IBFX, Alpari, FXCM, FXDD and FxPro. I personally use Alpari UK for my live accounts since 3 months and I am satisfied with them so far. If you choose an US broker then be aware that the NFA is doing a lots of changes currently and assure that they don't affect your trading style.

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #3,154
  • Jul 14, 2009 1:07pm Jul 14, 2009 1:07pm
Quoting stefx
If this is a live account and they don't remove such spikes and you're bothered on a regular basis contacting their support to put the orders on again I would recommend that you leave them NOW.

I would not say one of the following becomes your friend but I read a lots of posts till now and the most commonly used MT4 brokers are IBFX, Alpari, FXCM, FXDD and FxPro. I personally use Alpari UK for my live accounts since 3 months and I am satisfied with them so far. If you choose an US broker then be aware that the NFA is doing a lots of changes currently...
I use alpari too and haven't had any problems.
  • #3,155
  • Jul 14, 2009 1:19pm Jul 14, 2009 1:19pm
Quoting advfntrader
I'm currently on ODL as well, so daily close is at 1am UK time...

thing is though I place trades via another spreadbet broker on a different platform, so the charts need to look the same
There is an "indicator" that combines bars. For example, it takes 2 4h bars and makes it into 1 8h bar. I don't personally use it since I don't lack the imagination but it might provide an opportunity for you. I can imagine it can combine 6 4h bars, and create a daily out of it. In this case you could have your "daily" bar at 8pm.

I'm still not convinced that this is much different from trading unclosed (but advanced) bars, which means that it will often be alright (most of the time prices don't change drastically during the GMT night), but if stuff does happen during those 2 or 4 hours, you can have a group of people against you - or at least not with you! Of course this doesn't apply for the S/R part of the method.

I don't know the name of the indicator but I guess enough people around here do.
The nail that sticks out gets hammered back in
  • #3,156
  • Jul 14, 2009 1:48pm Jul 14, 2009 1:48pm
eurnzd: SL moved to BE
No risk, sleep well tonight.
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd_d.gif Size: 13 KB
Trading: the skill of avoiding trades
  • #3,157
  • Jul 14, 2009 1:51pm Jul 14, 2009 1:51pm
Quoting stefx
If this is a live account and they don't remove such spikes and you're bothered on a regular basis contacting their support to put the orders on again I would recommend that you leave them NOW.

I would not say one of the following becomes your friend but I read a lots of posts till now and the most commonly used MT4 brokers are IBFX, Alpari, FXCM, FXDD and FxPro. I personally use Alpari UK for my live accounts since 3 months and I am satisfied with them so far. If you choose an US broker then be aware that the NFA is doing a lots of changes currently...
Thanks Stefx and Hel13rock..........

I am currently thinking of either Activtrades or Alpari (Both UK Brokers)....I am not too fond of US Brokers.........Anyone know much about Activtrades, please let me know................
  • #3,158
  • Jul 14, 2009 2:31pm Jul 14, 2009 2:31pm
Quoting Low
http://i31.tinypic.com/raxg7p.png

I would wait for yesterday's pinbar to fail first......for what it's worth.
  • #3,159
  • Jul 14, 2009 4:53pm Jul 14, 2009 4:53pm
Blog updated.
  • #3,160
  • Edited 5:45pm Jul 14, 2009 5:26pm | Edited 5:45pm
Anyone else having trouble with this vid?I can't even "save as"

Got it now.....not sure what the problem was,couldn't even watch the old ones....O'well it is downloading now!
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