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  • #162,581
  • Nov 17, 2009 2:17pm Nov 17, 2009 2:17pm
Anybody using FxPro and experiencing connection problems at the moment?
To Infinity and Beyond!
  • #162,582
  • Nov 17, 2009 2:28pm Nov 17, 2009 2:28pm
Quoting kingrex
there was a FF thread started on this topic about two years ago with only 2 responses. I think the greedy keep to themselves about "how to" read the tape and most others are like pull your self up by ya bootstraps. i figured it out so can you. what you spose?

my questions is what would be the point of using Level 2 if you going through an ECN? I don think u can view MM or whos buying on ECN. Am I correct?
Actually, my Level II quote service is through my ECN account directly.
  • #162,583
  • Nov 17, 2009 2:30pm Nov 17, 2009 2:30pm
Quoting Purple
Can you tell me which broker is that?

Analyzing volumes is very complex and hard to explain, I have used Dukascopy in past and what I usually did was see the total bid and ask volumes.. if the difference between them was significant than it meant someone is buying large / selling large and would take position accordingly..

But in your snapshot the difference in volume between total bid and ask is not that high to warrant a trade... but just for the sake of explaining, if you look closely their are more sellers than buyers, so I would have taken...
ECN account with FXOpen. Level II quote service is free with ECN account.
  • #162,584
  • Nov 17, 2009 2:32pm Nov 17, 2009 2:32pm
Quoting Protogenos
It's a double no touch option. The rumor is that China has huge DNTs at 4800 and 5100, therefore they would intervene to keep the euro from reaching either of those levels until the options expire. Now if I only knew if it were true and when they expired lol

interesting. where did you get that info?
  • #162,585
  • Nov 17, 2009 2:36pm Nov 17, 2009 2:36pm
Quoting Exsilium
ECN account with FXOpen. Level II quote service is free with ECN account.
Okay, thanks.
  • #162,586
  • Nov 17, 2009 2:40pm Nov 17, 2009 2:40pm
Quoting Exsilium
ECN account with FXOpen. Level II quote service is free with ECN account.
Hi I have an FXOpen account I havent traded in awhile. I opened it just now and realized its an ECN account. How to access the lvl2 quotes screen?
  • #162,587
  • Nov 17, 2009 2:57pm Nov 17, 2009 2:57pm
Quoting richy
interesting. where did you get that info?
IFR Markets, here's the news release...been a little bit of chatter about it, but apparently it is true. I believe ACB is Asia Commercial Bank, though I thought I read something about China...

London, November 17. The heavy selling of EUR/USD spot after its test on 1.5000 overnight has lent support to implied vols, with the market sliding in to the mid 1.48"s before finding support. Vol gains have been modest however, with the market still firmly entrenched within the wider 1.48/1.51 ranmge abd parameters of that ACB held DNT which expires Friday. The benchmark 1mth atmf vol had already run in to strong support ahead of the late September and 15mth lows at 9.7 yesterday - trading several times at 9.9 and opening back around 10.15 this morning in London. 10.2 and 10.3 and possibly 10.35 have been paid since, with 10.25/10.45 the current price. 3mth atmf paid 11.75, 6mth at 12.7 and 1yr at 13.2. [email protected].
  • #162,588
  • Nov 17, 2009 3:06pm Nov 17, 2009 3:06pm
Quoting kingrex
Hi I have an FXOpen account I havent traded in awhile. I opened it just now and realized its an ECN account. How to access the lvl2 quotes screen?
http://deep.fxopen.com/publish.htm

Go there.
  • #162,589
  • Nov 17, 2009 3:09pm Nov 17, 2009 3:09pm
Quoting Exsilium
Despite several requests, i still dont know what DNT is.
I explained it a few posts back, it's a double no touch option, meaning that the buyer needs the price to remain within the barriers before expiration. In this case the barriers are 1.4800 and 1.5100
  • #162,590
  • Nov 17, 2009 3:11pm Nov 17, 2009 3:11pm
Quoting peterrr
Anybody using FxPro and experiencing connection problems at the moment?

It was awhile ago now, very obnoxious but didn't last long thankfully.
  • #162,591
  • Nov 17, 2009 3:11pm Nov 17, 2009 3:11pm
Hi All, new to this forum and to forex... butttt just to answer the DNT question.

DNT - Double No-Touch Option (Refrenced from http://www.investopedia.com/terms/d/doublenotouch.asp)

What Does Double No-Touch Option Mean?
A type of exotic option that gives an investor an agreed upon payout if the price of the underlying asset does not reach or surpass one of two predetermined barrier levels. An investor using this type of option pays a premium to his/her broker and in turn receives the right to choose the position of the barriers, the time to expiration, and the payout to be received if the price fails to breach either barrier. With this type of option, the maximum possible loss is just the cost of setting up the option.

A double no-touch option is the opposite of a double one-touch option.


Investopedia explains Double No-Touch Option
This type of option is useful for a trader who believes that the price of an underlying asset will remain rangebound over a certain period of time. Double no-touch options are growing in popularity among traders in the forex markets.

For example, assume that the current USD/EUR rate is 1.20 and the trader believes that this rate will not change dramatically over the next 14 days. The trader could use a double no-touch option with barriers at 1.19 and 1.21 to capitalize on this outlook. In this case, the trader stands to make a profit if the rate fails to move beyond either of the two barriers.
  • #162,592
  • Nov 17, 2009 3:17pm Nov 17, 2009 3:17pm
Ooops, ACB is Asian Central Bank haha...here's the original release:

London, November 17. The oft-mentioned 1.4800-1.5100 Double No Touch option which is reportedly held by a large Asian Central Bank is slated to roll off on Friday. EUR/USD was last at 1.4800 thirteen days ago (Nov 4). 1.4821 was last Thursday"s low (Nov 12). 1.4824 was Friday"s floor (Nov 13). [email protected]
  • #162,593
  • Nov 17, 2009 3:27pm Nov 17, 2009 3:27pm
Its been a rough day, but my heartbeat has slowed down.

I have recovered 40% from my lowest point in the last few hours with an anticipated 59% - 91% within the next 4 hours.

Was long average @14959 but closed 1 lot to maintain margin buffer @ 14819 for a 10% loss (acceptable but would eat up the 34% profit on the account).

Current position 4 @ 14964 which, combined with the last order is about a -42% position (ouch).

Will re-evaluate my position at 14900 and may hedge at that point.

I now understand why people jumped out of windows during the stock market crash of 1920 something.
  • #162,594
  • Nov 17, 2009 3:31pm Nov 17, 2009 3:31pm
Quoting Exsilium
Its been a rough day, but my heartbeat has slowed down.

I have recovered 40% from my lowest point in the last few hours with an anticipated 59% - 91% within the next 4 hours.

Was long average @14959 but closed 1 lot to maintain margin buffer @ 14819 for a 10% loss (acceptable but would eat up the 34% profit on the account).

Current position 4 @ 14964 which, combined with the last order is about a -42% position (ouch).

Will re-evaluate my position at 14900 and may hedge at that point.

Don't get me wrong for starters, I've been there totally we all have anyone who says different is lying But....


Your playing with fire sooner or later you will be burnt and a move will wipe out most of your account.

You didn't state long or short ?? cause the immediate trend / direction is currently up, I find it unwise to hold against this EVER.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #162,595
  • Nov 17, 2009 3:35pm Nov 17, 2009 3:35pm
Quoting Turveyd
Don't get me wrong for starters, I've been there totally we all have anyone who says different is lying But....


Your playing with fire sooner or later you will be burnt and a move will wipe out most of your account.

You didn't state long or short ?? cause the immediate trend / direction is currently up, I find it unwise to hold against this EVER.


yuppers I've been there aswell
  • #162,596
  • Nov 17, 2009 3:36pm Nov 17, 2009 3:36pm
Quoting Turveyd
Don't get me wrong for starters, I've been there totally we all have anyone who says different is lying But....


Your playing with fire sooner or later you will be burnt and a move will wipe out most of your account.

You didn't state long or short ?? cause the immediate trend / direction is currently up, I find it unwise to hold against this EVER.
Hmm... "Was long average @14959" .

I think well run out of steam around the 14900 area, if only for a short 20 pip retrace, but as I said, ill take a look then. Im not one to hedge, i usually "counter-hedge" but lack the funds now to properly do that. However, I do agree, both the immediate trend and long term trend is up, and was why I entered long in the first place because one of my oldest rules is to trade with the trend and not try to pick the tops/bottoms.
  • #162,597
  • Nov 17, 2009 3:38pm Nov 17, 2009 3:38pm
Quoting Exsilium

I now understand why people jumped out of windows during the stock market crash of 1920 something.
Too much leverage man. I hate to see someone blow their account in a couple days. I started FX in late 2007. Tripled my account and blew all my profit in a week last year. Now I trade 1/10 the amounts I used to trade and the stress is nothing comparatively speaking. Sure, I won't make 10% in a day anymore, but I'm perfectly happy making .1%. I sleep better and I don't mind leaving trades open. I'm down 120 pips on one of my trades and who cares? I up my leverage when necessary, but those I hold long are small to begin with...
  • #162,598
  • Nov 17, 2009 3:41pm Nov 17, 2009 3:41pm
Quoting Exsilium
Its been a rough day, but my heartbeat has slowed down.

I have recovered 40% from my lowest point in the last few hours with an anticipated 59% - 91% within the next 4 hours.

Was long average @14959 but closed 1 lot to maintain margin buffer @ 14819 for a 10% loss (acceptable but would eat up the 34% profit on the account).

Current position 4 @ 14964 which, combined with the last order is about a -42% position (ouch).

Will re-evaluate my position at 14900 and may hedge at that point.

I now understand why people jumped out of windows during...

yeah I see 1.4900 we might get 1.49360 ish on this bounce but I'm pretty bearish for this week on EUR/USD
  • #162,599
  • Nov 17, 2009 3:45pm Nov 17, 2009 3:45pm
Quoting Exsilium
Its been a rough day, but my heartbeat has slowed down.

I have recovered 40% from my lowest point in the last few hours with an anticipated 59% - 91% within the next 4 hours.

Was long average @14959 but closed 1 lot to maintain margin buffer @ 14819 for a 10% loss (acceptable but would eat up the 34% profit on the account).

Current position 4 @ 14964 which, combined with the last order is about a -42% position (ouch).

Will re-evaluate my position at 14900 and may hedge at that point.

I now understand why people jumped out of windows during...

I just looked at your stats and you closed a trade at a loss of 121 pips, was there no time during that slide down that you could have closed it earlier? You need to set yourself some rules regarding stop losses and stick to it. Use 30,50,60 or whatever is comfortable for you, but don't let a trade go 120 pips against you if it means 14% of your account. Your r/r ratio is out of wack compared to the cash in your account.

You won 37% out of your short trades and 50% out of your long trades; at this rate your account won't last more then a few days.

Your lot size may need addressing too; you currently carry a 4 lot size trade at a 90+ pip loss.

baby steps, baby steps.

You will luck out this time as the trend is up and will safe you from yourself.
  • #162,600
  • Nov 17, 2009 3:46pm Nov 17, 2009 3:46pm
Quoting Protogenos
Too much leverage man. I hate to see someone blow their account in a couple days. I started FX in late 2007. Tripled my account and blew all my profit in a week last year. Now I trade 1/10 the amounts I used to trade and the stress is nothing comparatively speaking. Sure, I won't make 10% in a day anymore, but I'm perfectly happy making .1%. I sleep better and I don't mind leaving trades open. I'm down 120 pips on one of my trades and who cares? I up my leverage when necessary, but those I hold long are small to begin with...
Figure I should introduce myself a little better I suppose since Im spamming this board so much lately.

I started trading with FXDD in November 2008. Moved the account to FXOpen In January due to better spreads and the upcomming FIFO rule. Below is the complete record of my FXOpen account.

https://www.myfxbook.com/portfolio/primary/5916

As you can see, I crashed and burned heavy in March which took me out of the market for a few months during which I did some more reading and demo stuff.

I re-entered the market again in August and transfered my account to the new ECN account over the last week with about a 36% profit (down from the highest point 4 weeks ago at a 72% profit) to, once again, take advantage of lower spreads in addition to quicker entry/exit for news stuff and so on.

I still consider myself a beginner, so feel free at any time to critique me and/or my trades. I would be stupid to refuse advice that could save or make me money.

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Yaruki