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  • #1,921
  • Mar 26, 2010 2:49am Mar 26, 2010 2:49am
Quoting Monroe
No problem. Although once you start making a lot of money, you shouldn't be with Oanda or any market maker because I've heard they will start messing with you, and the slippage is way worse than with an ECN broker
Does it mean that when you start to be profitable Oanda comes against you?

Have I understood well?
Don't give up
  • #1,922
  • Mar 26, 2010 3:06am Mar 26, 2010 3:06am
Quoting geomink
Does it mean that when you start to be profitable Oanda comes against you?

Have I understood well?
Oanda is a market maker. I have heard they hunt your stops, especially if you're trading large sizes.
  • #1,923
  • Mar 26, 2010 3:38am Mar 26, 2010 3:38am
Quoting stinger88
Oanda is a market maker. I have heard they hunt your stops, especially if you're trading large sizes.
bla bla. donīt believe what people say. Did you try live with 10 lots? just try and if your SL will be frequently hunt just find another broker. It is not true that all market makers are bad. You will be surprised that a lot of "REAL ECN" are worse than market makers.
  • #1,924
  • Edited 4:09am Mar 26, 2010 3:49am | Edited 4:09am
Quoting cmeldatrader
bla bla. donīt believe what people say. Did you try live with 10 lots? just try and if your SL will be frequently hunt just find another broker. It is not true that all market makers are bad. You will be surprised that a lot of "REAL ECN" are worse than market makers.
How do you know this?
I'm not about to go and test out Oanda using 10 lots just to verify what others traders have stated. Why don't you open an Oanda account, try your theory of using 10 lots, then come back and report the results.

Next time before you post and call someone out, you better have something more than just a hunch and some insane idea about using 10 lots to find out.
  • #1,925
  • Mar 26, 2010 4:29am Mar 26, 2010 4:29am
Quoting stinger88
How do you know this?
I'm not about to go and test out Oanda using 10 lots just to verify what others traders have stated. Why don't you open an Oanda account, try your theory of using 10 lots, then come back and report the results.

Next time before you post and call someone out, you better have something more than just a hunch and some insane idea about using 10 lots to find out.
Real ECN? put your order between bid and ask.
Oanda with 10 lots and my statement? Why?
I apologize but i am not fighting with you. I am just saying that a lot of people, lot of opinion (and i believe in that if i will try).
It is like to ask Tony post me your statement because i donīt believe in Central bank system...
best regards
  • #1,926
  • Mar 26, 2010 4:56am Mar 26, 2010 4:56am
Quoting cmeldatrader
Real ECN? put your order between bid and ask.
Oanda with 10 lots and my statement? Why?
I apologize but i am not fighting with you. I am just saying that a lot of people, lot of opinion (and i believe in that if i will try).
It is like to ask Tony post me your statement because i donīt believe in Central bank system...
best regards
Ok. No worries.
  • #1,927
  • Mar 26, 2010 5:27am Mar 26, 2010 5:27am
Good am traders,fx is like a card game the brokers see your hand but you cannot see thiers.I asked oanda this week do you put on an opposite position against me,yes we hedge our position.I asked forex.com the same question,yes we put on an opposite position against you
  • #1,928
  • Mar 26, 2010 6:04am Mar 26, 2010 6:04am
Quoting monikroc
Good am traders,fx is like a card game the brokers see your hand but you cannot see thiers.I asked oanda this week do you put on an opposite position against me,yes we hedge our position.I asked forex.com the same question,yes we put on an opposite position against you
Hi
of course that they are going againts you. They must to do this. If you buy 1 lot they have to find 1 lot sell. But sometimes market makers are doing fictive price to make his advantages. Just look at ECN broker and market maker: look how many ticks per time (sec, minute) will come to your client MT4 and you will see big disproporcies. ECN have much more ticks per time (of course because of better liquidity).
best regards
  • #1,929
  • Mar 26, 2010 7:26am Mar 26, 2010 7:26am
Quoting tobias24
first of all i want to say thank you tony for this nice system.

i read the hole thread, unfortunatelly i wasnt able to get the 5sec charts in mt4, although i tried several tools. would be awesome if someone could help me.

i read some guys coded an ea and i want to kindly ask if anyone wants to share his version? i started to code but is seems to be pretty tricky
i am trying to code the ea for mt4 platform, would be awesome of guys who get their codes working would share them.
i really think the system would be profitable as ea too, not as profitable with manuel trading, but without screentime
best regards
  • #1,930
  • Mar 26, 2010 9:00am Mar 26, 2010 9:00am
About an EA, I think MT4 plateform is not well built for this kind of very shot type of trades (less than few minutes most of the time).
It has been already said, brokers how use MT4 as plateform are mostly not ECN an give a strange historical of ticks (due to liquidity) not really adapted for 5sec candles.

The second thing is entries depend of the prices/volatility and moves before a valid candles (>8pips), You have to find a set of indicators able to analize like manual trader.. that's a mess to build this kind of stuff I think.
Could be a track to use HMA (to calculate the force and direction of a trend, low value could indicate a range witch allow a valid candle to be taken).
Even if you succeed in it, you'll have less results than manual trader whose reconizes figures and faster than an indicator based on the past.
  • #1,931
  • Edited 10:09am Mar 26, 2010 9:28am | Edited 10:09am
i haven't enough post to recommend anything, but let all MT4 brokers aside, just using the big enough MM or Currenex... i mean O is a very good MM, watch their spreads and if you compare the pricefeed from O with any Currenex broker you will not find any/much differences and then compare 3-4 MT4 brokers and watch their prices...

forex is a derivative from a bank made market... so any market maker - note: currenex is also a platform for market makers which are using electronic order matching - is building a derivative of a true market, as much more banks are working with them the more the pricefeed is true... so if anyone of you heard about banktraders are communicating to each other, yes they do, and thats how price is made...

but for banktraders (interbank) its another game, they provide the liquidity, while the CB's are arms of the owner of this market, you can see them when prices are moving very fast (20-30mins) mostly 100-200 pps... so interbank traders can "see" real order flow... while we are just watching the tick speed around certain key levels to "guess" the direction...

so for anybody again i personally believe O is one of the honest market provider outside, and they do their job really good because they provide you with a mostly accurate price feed...

the reason why a broker hedges your position against a real market, which exist not for you, is their exposure to the market, think about what they do... they build their positions against you to have as much less exposure against moves in the market which could destroy their business... and otherwise yes the trade also positions in the market to make "scalp" money from countertrend moves... if you as a customer want to go long in a long trend you make the broker short the whole way up... and you think this is not to be honest, there are traders outside which sitting on positions of multimillion dollars think about what they do, i believe a honest market maker is sometimes when price confusing also sweating like you with maybe 5 minilots in the markets...

Stop gunning on a individual customer isn't true, because you use a web based software, look MT4 you have to install and be connected to a server which is ran from a broker, which are mostly not so honest counter party, what about price freezes around news and so on...

stop hunting aorund key levels is a part of this business to capitalise on these levels, that why everybody who trade correct bigger timeframes is telling you trade with the dominant trend... what about S/R levels which are short term broken but then after the breakout price returns in other direction with much more speed... this is stop hunting... i try to show you a picture

red line stops and sell stops of short time positions, purple line stops and buy stops from long term positions (could be way bigger then the shorties) at the time where the price first time hit the purple level there was so much force, profit-taking, buy stops which drove price up, then hit the stops of positions beeing short at the moment and drove price further up... then again watch further left the dominat highest high of before, price reversed before and dropped again after coiling around it drops heavily... hope this helps to understand the nature of this market... otherwise most new traders should learn about this market, why it is moving, and who moves it really... :-)

regards
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  • #1,932
  • Edited 12:09pm Mar 26, 2010 11:02am | Edited 12:09pm
Quoting Walcott
About an EA, I think MT4 plateform is not well built for this kind of very shot type of trades (less than few minutes most of the time).
It has been already said, brokers how use MT4 as plateform are mostly not ECN an give a strange historical of ticks (due to liquidity) not really adapted for 5sec candles.

The second thing is entries depend of the prices/volatility and moves before a valid candles (>8pips), You have to find a set of indicators able to analize like manual trader.. that's a mess to build this kind of stuff I think.
Could be a...
well the trades are floating longer, only if you hit s/l its closed fast, so no problem there.
i am with an stp mt4 and i am really happy with their feed. its really really not much different to the big O, and they are no MM.
you dont need indicators at all, and if you want to determine a trend(which maybe is usefull but lowering the frequency of signals a lot) you can use 2 simple MAs. all you need is an array which updates values like open and close every 5 sec, so you can compare them. no indicators needed for that.
sure as i said an ea wouldnt have that high roi, but because of my job i am not able to trade in the stated hours. however the system looks very very interessting because of tight stops and moving s/l to breakeven.

@lindafx, i think everyone who is serious about fx has gotten that every trade has to be taken by an opposite. thats just how it is.. and the one who is taken the opposite doesnt want to loose, like you do. thats basic.
there are true and honest mt4 broker who have a nice feed, normal slippage (you will get slipped everywhere, thats because of the hardware physics (ping)) and dont directly trade against you. however as i said, always someone will trade against you, thats just the nature of fx.

/edit: cmeldatrader: would be awesome if you can send it or upload it even its not profitable. thank you
  • #1,933
  • Mar 26, 2010 11:31am Mar 26, 2010 11:31am
Quoting Walcott
About an EA, I think MT4 plateform is not well built for this kind of very shot type of trades (less than few minutes most of the time).
It has been already said, brokers how use MT4 as plateform are mostly not ECN an give a strange historical of ticks (due to liquidity) not really adapted for 5sec candles.

The second thing is entries depend of the prices/volatility and moves before a valid candles (>8pips), You have to find a set of indicators able to analize like manual trader.. that's a mess to build this kind of stuff I think.
Could be a...
Yes it is true. I have EA in MT4 with 5 sec TF and this EA analaze 8pip candle per 5 sec but it is not profitable. And i know why. Because of price action AFTER 8 pip candle (it is so discretionnary). Of course support/resistance,psych level, breakout and so on. Too many thing which influence final result. The best is watching to chart, wait for PA and practice, practice, practice....
  • #1,934
  • Mar 26, 2010 12:04pm Mar 26, 2010 12:04pm
It's possible to make a EA from this method, it's just a huge load of brainstorm.
There are many efficient indicators for support/resistance, psych level, breakout and so on, just have to build the closest setup to manual use.
I certainly gona try to make and backtest a JAVA version for JForex (looks like way better than MT4, with a quality historical).

Your results on EA gone be less better than manual, but close.
The fact is, EA doesn't make gambling trades or buying position too late by beeing busy drinking your cup of tea.

I hnow my self, I'm better in spending time to analyze and making systems than live trading like Tony, I'm too emotive, too much stress
  • #1,935
  • Mar 27, 2010 7:53pm Mar 27, 2010 7:53pm
THIS week was weak, account is reduced to 90%
Invest in alarm clocks
  • #1,936
  • Mar 27, 2010 8:33pm Mar 27, 2010 8:33pm
what do you risk per trade?

Quoting Tony112
THIS week was weak, account is reduced to 90%
Annoying Precision
  • #1,937
  • Mar 27, 2010 9:39pm Mar 27, 2010 9:39pm
Read these threads, and all your questions will be answered, rather than re-hashing the same discussion again and again spread out over hundreds of different threads on ff.

http://www.forexfactory.com/showthread.php?t=7484

http://www.forexfactory.com/showthread.php?t=5809

http://www.forexfactory.com/showthread.php?t=8046


Cheers,
K.
  • #1,938
  • Mar 28, 2010 10:45am Mar 28, 2010 10:45am
Quoting Tony112
THIS week was weak, account is reduced to 90%

Down 90% with a 4 pip stop????

I thought this method was low risk, large gain. I doubt if anyone here wants to duplicate that feat.
  • #1,939
  • Mar 28, 2010 11:11am Mar 28, 2010 11:11am
if you are losing 90% of your account in one week, you should re think your moneymanagement.
  • #1,940
  • Mar 28, 2010 11:15am Mar 28, 2010 11:15am
Tony's post said his account was reduced to 90%. So he would have lost 10% for the week.
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