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AUD/USD

  • #7,621
  • Oct 26, 2009 2:19am Oct 26, 2009 2:19am
Quoting puks
G'day all,

I was just wondering if you could help me choose a better forex broker. I am currently with CMC markets here in Australia but I am inclided to open another account with a trader who provides MT4.

Can you guys (esp who are here in Australia) please advise on who you think is a better trader? I am inclined to choose either FXCM Australia or GomarketsAus.

Thanks and appreciate your help.

Cheers
Puks
hi puks, try the Alpari UK demo and see if you like it
  • #7,622
  • Oct 26, 2009 2:23am Oct 26, 2009 2:23am
Quoting fammira
hi puks, try the Alpari UK demo and see if you like it
Thanks Fammira. How was your holiday?

I have made some decent gains on aud/usd longs but got wiped out 10 days ago when cable rallied some 300 pips during a day.

This is precisely the reason why I would want to go with MT4 where I can use the hedging in the same currency pair.

Cheers
  • #7,623
  • Oct 26, 2009 2:27am Oct 26, 2009 2:27am
Quoting puks
Thanks Fammira. How was your holiday?

I have made some decent gains on aud/usd longs but got wiped out 10 days ago when cable rallied some 300 pips during a day.

This is precisely the reason why I would want to go with MT4 where I can use the hedging in the same currency pair.

Cheers
it was very nice indeed, thank you!

I am with Oanda but I use the Alpari MT4 platform in demo and I think is good, have a try and evaluate yourself!

When I made a research to choose my broker, Oanda and Alpari UK were just the best ones I have collected opinions and comments about.
Then I have choosen Oanda cause when I travel I am on a Mac, and Mac does not support MT4 unless one installs some additional software on it.

I went with Oanda and I am happy with it
I can't hedge on the same pair but I don't need that, I trade in a different way
  • #7,624
  • Oct 26, 2009 2:50am Oct 26, 2009 2:50am
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Quoting puks
G'day all,

I was just wondering if you could help me choose a better forex broker. I am currently with CMC markets here in Australia but I am inclided to open another account with a trader who provides MT4.

Can you guys (esp who are here in Australia) please advise on who you think is a better trader? I am inclined to choose either FXCM Australia or GomarketsAus.

Thanks and appreciate your help.

Cheers
Puks
i am with CMC MarketMaker and i absolutely dont recommened them ... i have been with them for more than 2 years and i will be moving away as soon as i close all my position ...
  • #7,625
  • Oct 26, 2009 3:14am Oct 26, 2009 3:14am
Quoting fammira
it was very nice indeed, thank you!

I am with Oanda but I use the Alpari MT4 platform in demo and I think is good, have a try and evaluate yourself!

When I made a research to choose my broker, Oanda and Alpari UK were just the best ones I have collected opinions and comments about.
Then I have choosen Oanda cause when I travel I am on a Mac, and Mac does not support MT4 unless one installs some additional software on it.

I went with Oanda and I am happy with it
I can't hedge on the same pair but I don't need that, I trade in a different way...
I use Oanda too, haven't had any problems, though I don't like their rollover rates, bit expensive, if i had a larger account it would be more of an issue but besides that Oanda is cool.
  • #7,626
  • Oct 26, 2009 3:40am Oct 26, 2009 3:40am
I trade on a low leverage and typically hold for longer periods of time.

My guide is the daily EMAs (22,33,44). What I look for is how far away from these lines, the currency is. The further away it is, the longer it takes to breach the EMAs.

The Aussie has pierced through the 3hourly, hourly EMAs. The only one standing is the daily and it is quite close (under 100 pips). At some point this should be taken out, my guess is sometime before the GDP report.

Then it will diverge from the EMAs either to the 90s if it's bad or to the 93s if it's good. Presently it has factored in expectations of good GDP numbers.
  • #7,627
  • Oct 26, 2009 3:51am Oct 26, 2009 3:51am
Quoting G_Man
i am with CMC MarketMaker and i absolutely dont recommened them ... i have been with them for more than 2 years and i will be moving away as soon as i close all my position ...
i'm with CMC too, but i'm too lazy to change... what troubles have you been having G? and who would u move to?
  • #7,628
  • Oct 26, 2009 5:26am Oct 26, 2009 5:26am
Quoting Zeroh
I use Oanda too, haven't had any problems, though I don't like their rollover rates, bit expensive, if i had a larger account it would be more of an issue but besides that Oanda is cool.
I have an Oanda demo for the news, Gomarkets spreads are better
  • #7,629
  • Oct 26, 2009 5:52am Oct 26, 2009 5:52am
Quoting fiat
i'm with CMC too, but i'm too lazy to change... what troubles have you been having G? and who would u move to?
I am with CMC as well. I have noticed that the spread gets totally out of control specially when you are short on an instrument. I used to scalp with large amounts going for shorter term trades but noticed that CMC holds the delay on shorts to such an extend that I landed up with losses where I could see on the actual values on tradestation ( Esignal data feed) I would be making money. So, then I decided agaist scalping and now only do long term trades ( longs as much as I can), till I change my broker. If others have the same problem pl let me know as well and suggest a better broker.
Find a job that you love and you dont have to work again in your life.
  • #7,630
  • Oct 26, 2009 6:21am Oct 26, 2009 6:21am
Quoting fammira
hi puks, try the Alpari UK demo and see if you like it
i'm using fxcm australia but my first broker and am still using till now is forexct australia and good thing they're based in melbourne so easy for me to find them and the spread is really good
Success consists of going from failure to failure without loss of enthusiam
  • #7,631
  • Oct 26, 2009 6:33am Oct 26, 2009 6:33am
AUD/USD pair will be bearish this week? I reckon if it does go down as far as 9050 then that's the right time to go long (medium term) i'm still very positive of 1:1 parity early next year.
Success consists of going from failure to failure without loss of enthusiam
  • #7,632
  • Oct 26, 2009 7:01am Oct 26, 2009 7:01am
Quoting G_Man
i am with CMC MarketMaker and i absolutely dont recommened them ... i have been with them for more than 2 years and i will be moving away as soon as i close all my position ...

same here. I am with CMC markets too and not happy with them for multiple reasons.

Thanks guys for your response. I will be switching to MT4. Currently using FXCM's demo account to get a handle on MT4.

cheers
  • #7,633
  • Oct 26, 2009 7:23am Oct 26, 2009 7:23am
Im on CMC as well... havent had too many problems. Works well enough for me anyway.


Have a look at Gotraders coz they use the MT4 platform I think and they also allows bots and stuff.
  • #7,634
  • Oct 26, 2009 7:30am Oct 26, 2009 7:30am
Is Gotraders a big firm? Forex isn't well regulated I'd rather put my funds in a bigger more stable firm like fxcm then a smaller one...

I've always heard good stories from Alpari , but I'm not surei f they're available in Australia.
  • #7,635
  • Oct 26, 2009 7:36am Oct 26, 2009 7:36am
Anyone with insight on the Australian PPI out today? I've been reading articles suggesting the RBA may not raise interest rates as deflation may be subdued, ex-least that's what today's PPI suggests, but Wednesday CPI could confirm and we'll see a sharp correction.

http://www.fx360.com/commentary/bori...o-correct.aspx

Read various other articles on Bloomberg as well, so any insight
  • #7,636
  • Oct 26, 2009 8:08am Oct 26, 2009 8:08am
Quoting thadakman
Thanks for the replies in response to hedging Shahab8 and Patience, do either of you reside in the USA by any chance... and do you know if there are any types of problems I may encounter with opening an account with a non-US broker if I'm a US resident?

I'm really bummed they banned hedging with US brokers earlier this year.
I'm in London but I don't think there would be a problem opening an account with FXCM UK because I think they offered FXCM US clients the same thing when the hedging rule came in. You could go to their website and do a live chat if you have any questions. I haven't had any problems with them but I don't scalp news releases etc so I can't comment on the reliability of having your orders filled. I've been using Oanda more lately though because their spreads are better.

Hi Shahab8. Hope your weekend went well too. Bank of Scotland's Daily Market Strategy attached

Attached File(s)
File Type: pdf BOS_Market_Strategy_Daily_26_Oct_2009.pdf   118 KB | 292 downloads
Nothing worth having is easy.
  • #7,637
  • Oct 26, 2009 9:03am Oct 26, 2009 9:03am
Hi guys, anyone use fxsol in au. Though of opening acc with them. Any feedback? Happy piping. Tks!
  • #7,638
  • Oct 26, 2009 9:36am Oct 26, 2009 9:36am
Quoting shahab8b
Hi thadakman,
I've been doing this for a while now, I use SDL indicator (slope direction line) to see long/short opportunity (+ my subjective analysis), its accurate 60% ,I back test it for one year, when its correct it gives you at least 3:1 RRR , which sounds good ,
but, in order to avoid being in the wrong side I put 2* opposite STOP Order at my SL point instead of closing my losing position, then I have 2 +1 position in both sides at the same pair, I close the winning one when the SDL changes agian and I re-renter the first position as a recovery...
FXPro UK does really sound good and I was about to sign up last night, but they told me they're not signing up any new accounts for US citizens and instead just concentrating on Euro clients
  • #7,639
  • Oct 26, 2009 9:41am Oct 26, 2009 9:41am
Quoting thadakman
FXPro UK does really sound good and I was about to sign up last night, but they told me they're not signing up any new accounts for US citizens and instead just concentrating on Euro clients
I know, I'm in the same boat. That is a bummer. I am looking for a good broker that is based outside the USA, to setup an EA on so that if the EA places a two trades in the opposite direction, I don't get screwed. I was looking into FxPro as well. I use them for charting because they also have the DOW chart. If anyone has suggestions, it would be highly appreciated. Thanks,

fxst
  • #7,640
  • Oct 26, 2009 9:48am Oct 26, 2009 9:48am
Quoting fxstman
I know, I'm in the same boat. That is a bummer. I am looking for a good broker that is based outside the USA, to setup an EA on so that if the EA places a two trades in the opposite direction, I don't get screwed. I was looking into FxPro as well. I use them for charting because they also have the DOW chart. If anyone has suggestions, it would be highly appreciated. Thanks,

fxst
I currently use Forex.com (Gain capital) and like it a lot (aside from the no hedging); But, you can open a Forex.com UK account (I may just transfer my account over)... the thing I don't like is that it costs $40 USD everytime you want to withdraw funds (it does not cost to withdraw funds with the US version unless you do a wire transfer)... not a huge amount but a bummer b/c you can get withdrawals for free with several other brokers.
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