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Sonic R. System

  • #8,541
  • Dec 13, 2009 10:18pm Dec 13, 2009 10:18pm
Question for TAH

T, I am running these broker's platforms back to back, obviously the spread is different but the volume is also reporting differently.

If you have any thoughts on this, I would like to hear them.
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  • #8,542
  • Dec 13, 2009 10:31pm Dec 13, 2009 10:31pm
Quoting Rastaman
I am running these broker's platforms back to back, obviously the spread is different but the volume is also reporting differently.

If you have any thoughts on this, I would like to hear them.
This is why volume is really just about useless in forex - the reported volume is the volume of trade at your broker only. There is no exchange. So what might look like a volume spike may be just at your broker, while in the rest of the world, trade is actually very light. The only volume that might be of use is if you could get Globex futures volume data for the futures equivalent of the pairs you are trading. But as for spot retail forex, it just takes up valuable screen real estate that could be better used for the price pane.
  • #8,543
  • Dec 13, 2009 10:36pm Dec 13, 2009 10:36pm
Quoting ddaytrader
The question now is this: Is the buying interest enough to turn the trend from down to up, or if this just a pause before a break of that support and a drop to test lower levels of support?
Well, we have some kind of answer. Also, if you note the diagonal trrendlines in black you will likely recognize what is commonly referred to as a "bear flag."
A good buddy of mine taught me never to sell the break of the lower trend line, but rather to wait for a break of the low before the highest low of the bear flag. Same with a bull flag in an uptrend.
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  • #8,544
  • Dec 13, 2009 10:48pm Dec 13, 2009 10:48pm
Quoting ddaytrader
This is why volume is really just about useless in forex - the reported volume is the volume of trade at your broker only. There is no exchange. So what might look like a volume spike may be just at your broker, while in the rest of the world, trade is actually very light. The only volume that might be of use is if you could get Globex futures volume data for the futures equivalent of the pairs you are trading. But as for spot retail forex, it just takes up valuable screen real estate that could be better used for the price pane.


Yes, that is what I was wondering about while running these two platforms back to back. On the other hand, we are only concerned with the broker we are trading with, are we not?
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  • #8,545
  • Dec 13, 2009 10:56pm Dec 13, 2009 10:56pm
Quoting Rastaman
Yes, that is what I was wondering about while running these two platforms back to back. On the other hand, we are only concerned with the broker we are trading with, are we not?
No. You still are trading a market where price exists outside of our individual brokers. You could only say that you were concerned only with your particular broker if your broker was completely in control of price. Your broker controls the spread, i.e. the precise levels at which you can buy/sell. But your broker needs to keep that spread within a certain very small margin of the interbank market.

I know Sonic uses the NVO, and I know TAH does. If you think it makes a positive contribution to your success, then by all means use it. I just think that the accuracy of any volume data is so flawed that I'd rather see more price pane and less indicators pane.
  • #8,546
  • Dec 13, 2009 10:58pm Dec 13, 2009 10:58pm
EU: This pullback up may be a precursor to a really good run down.....
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  • #8,547
  • Dec 13, 2009 11:06pm Dec 13, 2009 11:06pm
Quoting traderathome
EU: This pullback up may be a precursor to a really good run down.....

... or ...
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  • #8,548
  • Dec 13, 2009 11:09pm Dec 13, 2009 11:09pm
going by my ibfx chart eu was a buy @ 4.20am ep 146.53 sl 146.05
tp1 147.01

Quoting traderathome
EU: This pullback up may be a precursor to a really good run down.....
"The person who knows that enough is enough, will always have enough". .
  • #8,549
  • Dec 13, 2009 11:10pm Dec 13, 2009 11:10pm
Quoting Rastaman
Yes, that is what I was wondering about while running these two platforms back to back. On the other hand, we are only concerned with the broker we are trading with, are we not?
What you are looking at is the volume of trades, not the volume of currency being traded (as in the stock market). It is a count of the trades that is going on. One trade might be for 100 lots, another for a micro lot, yet they both have equal weight in the "volume" count. So, of what value is it? It can be very "telling" when there is sudden change. When the number of trades suddenly starts to increase it is saying there is suddenly a lot of interest in trading at the current price. It does not matter that one broker shows different levels than another. What does matter is that the brokers all show some manner of relative increase in trading at about the same time. Now, is the sudden increased interest in trading about going long?.....short? That may not be immediately discernable, and the determination of it may have to wait for the ensuing price action. But, when the price action points the direction, the increased trading interest at the beginning can support that the price action underway will not be a head fake, and despite ups and downs, real progress is to be made in that direction over time.
  • #8,550
  • Dec 13, 2009 11:14pm Dec 13, 2009 11:14pm
Quoting ddaytrader
... or ...
Well, that is why I included the Day chart. If it were a M15 chart we'd be looking to go SonicR short about now.
  • #8,551
  • Dec 13, 2009 11:41pm Dec 13, 2009 11:41pm
moved to b/e as going bed ( paper trade ) price currently 1.4678 eu

Quoting maq
going by my ibfx chart eu was a buy @ 4.20am ep 146.53 sl 146.05
tp1 147.01
"The person who knows that enough is enough, will always have enough". .
  • #8,552
  • Dec 14, 2009 12:49am Dec 14, 2009 12:49am
EU pull back before go down... daily chart
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  • #8,553
  • Dec 14, 2009 1:51am Dec 14, 2009 1:51am
I asked this to TAH in pm but he is not around right now and I need an answer quickly. I have almost certainly settled on the broker I am going with, the server is in the country I am so, signals should be more reliable.

Anyway, I planned on opening a small account with 300,000 Japanese yen of my own money but, my wife just handed me another 300,000 Yen and said, use this for your account. So, what should I do now, open a 600,000 Yen account or stick with the original plan?

Decisions.........I am grateful to my wife but it kind of messes up my plan. Perhaps, with such a small amount, it doesn't really make much difference as I only plan on trading 0.1 lots anyway.
Starting to see instead of just looking.
  • #8,554
  • Dec 14, 2009 2:12am Dec 14, 2009 2:12am
Quoting Rastaman
I asked this to TAH in pm but he is not around right now and I need an answer quickly. I have almost certainly settled on the broker I am going with, the server is in the country I am so, signals should be more reliable.

Anyway, I planned on opening a small account with 300,000 Japanese yen of my own money but, my wife just handed me another 300,000 Yen and said, use this for your account. So, what should I do now, open a 600,000 Yen account or stick with the original plan?

Decisions.........I am grateful to my wife but it kind of messes up my...
Rastaman,
My view is this... if you have a style thats proven to grow an account, the size will follow. As long as you're not compromising the 2-3% lot size, focus on winning Pips!
Pablo
  • #8,555
  • Dec 14, 2009 2:36am Dec 14, 2009 2:36am
Quoting Rastaman
I asked this to TAH in pm but he is not around right now and I need an answer quickly. I have almost certainly settled on the broker I am going with, the server is in the country I am so, signals should be more reliable.

Anyway, I planned on opening a small account with 300,000 Japanese yen of my own money but, my wife just handed me another 300,000 Yen and said, use this for your account. So, what should I do now, open a 600,000 Yen account or stick with the original plan?

Decisions.........I am grateful to my wife but it kind of messes up...
I'd would suggest use 300k to start first. Keep the other half as backup in case someting goes wrong. If the trading work out, it wont matter what amount you start with anyway.
  • #8,556
  • Dec 14, 2009 2:51am Dec 14, 2009 2:51am
Quoting furburr
I'd would suggest use 300k to start first. Keep the other half as backup in case someting goes wrong. If the trading work out, it wont matter what amount you start with anyway.

Good advice folks, thanks. I was sort of thinking the same thing.
Starting to see instead of just looking.
  • #8,557
  • Dec 14, 2009 2:55am Dec 14, 2009 2:55am
EU short
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  • #8,558
  • Dec 14, 2009 3:02am Dec 14, 2009 3:02am
Quoting Rastaman
Good advice folks, thanks. I was sort of thinking the same thing.

rastaman , you do have difficulties making decisions , don't you . do you think that flows over into your tech analysis and/or trading decisions also ?
  • #8,559
  • Dec 14, 2009 3:13am Dec 14, 2009 3:13am
I am in on GJ
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  • #8,560
  • Dec 14, 2009 3:14am Dec 14, 2009 3:14am
Quoting mcdonnellc
rastaman , you do have difficulties making decisions , don't you . do you think that flows over into your tech analysis and/or trading decisions also ?

No, not really.

Why, do you think I have?

Does this trade seem to be indecisive?

TP1 hit and SL at BE+ it is a free trade.
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