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Technical Analysis Fallacy

  • #14,301
  • Apr 13, 2010 9:50am Apr 13, 2010 9:50am
Quoting fti
Only one word.
GIGO.

The question is, you are viewing bank secrets?
and around the globe?
unlikely.
Probably just red herrings.


regards
ok.......
  • #14,302
  • Apr 13, 2010 10:18am Apr 13, 2010 10:18am
Inserted Video
  • #14,303
  • Apr 13, 2010 1:43pm Apr 13, 2010 1:43pm
To make a step back on the broker topic - I use a currenex white label one - a local rep of ODL Securities. It's not the cheapest solution but I admit I've had relatively few occasions of slippage and it was only on a very fast moving market. Another plus for me is the mt4 platform, but I guess that's up to the individual taste.
I've heard a lot of good stuff for MB Trading, anyone tried them?

Rgrds
S
  • #14,304
  • Apr 13, 2010 2:19pm Apr 13, 2010 2:19pm
Hi Friends!

I have read the new edition of the never ending broker discussion with great interest. Thanx a lot for sharing your experiences here.

I want to give you an advice out of my experience:
If you are trying to trade successfully with one of the internet based "bucket shops" you need to know their thechnical background, their MO and the technical possibilities as good as you have to know the fx market structure. It is an additional lesson beside all the wonderful and insideful teachings fti has presented here.
Only if you have this kind of knowledge you will be able to use fti's teachings successfully in the retail market...

Just my 0.02EUR out of my experiences.

CU,
MaMood
  • #14,305
  • Apr 13, 2010 2:45pm Apr 13, 2010 2:45pm
Quoting Setebos
To make a step back on the broker topic - I use a currenex white label one - a local rep of ODL Securities. It's not the cheapest solution but I admit I've had relatively few occasions of slippage and it was only on a very fast moving market. Another plus for me is the mt4 platform, but I guess that's up to the individual taste.
I've heard a lot of good stuff for MB Trading, anyone tried them?

Rgrds
S
Had used them since EFX (their ex IB) days, they had gone a long way and finally reduced commish. Good execution and very stable platform never tried their mt4 before though. Spreads wise comparable to currenex retail. I have not used the account much, had always preferred oanda. You may like their order types too.
  • #14,306
  • Apr 13, 2010 2:55pm Apr 13, 2010 2:55pm
Quoting MaMood
Hi Friends!

I have read the new edition of the never ending broker discussion with great interest. Thanx a lot for sharing your experiences here.

I want to give you an advice out of my experience:
If you are trying to trade successfully with one of the internet based "bucket shops" you need to know their thechnical background, their MO and the technical possibilities as good as you have to know the fx market structure. It is an additional lesson beside all the wonderful and insideful teachings fti has presented here.
Only if you have this...
How are u MaMood ?

Agree with you, anyway better use the knowledge to our advantage than let it become a barrier. I started with bucketshop (FXCM, FXSOL), went on to ECNs (MBT, Hotspot retail, Currenex). After a big round, I still like my friendly bucket shop (Oanda). In the end, if you know how to profit, the platform doesnt matter as much anymore.
  • #14,307
  • Apr 13, 2010 3:09pm Apr 13, 2010 3:09pm
@fti
Lines are off everywhere.
This can trickle down even to the retail, and I highly doubt retail outfits have the ability to have multiple counterparties or even multiple prime brokering relations as this would go against many if not all the dealing agreements.

Tiered boys are using limits these days and then gapping away.
Something along the lines of this..
http://www.bloomberg.com/apps/news?p...d=aieZHggSt0ks

Regards sir,
J
  • #14,308
  • Apr 13, 2010 3:57pm Apr 13, 2010 3:57pm
Quoting mijamoto
Hi guys. I've been hit by market I messed up everything on EURCHF, because I tought SNB is gonna defend swiss franc from further appreciation and my stop loss was trigered at 1.42 so I am minus 14% this year. Otherwise I am doing qute good, but still I am so bored during lectures so I go just for few hours on faculty. I passed all winter exams easily so I have plenty of time. I took a little break from forex to settle my mind, so I do lots of sports as always. But I figured it out whatever you want to take to the professional level, is the same...
@Mijamoto
I can fully understand you about the faculty thing you mentioned. I did it yesterday and today. Feels like waste of time( not total waste, but mostly). I'm tired of listening to lectures, just theory and theory. When I finished my bachelor's degree in Industrial Engineering, the job market showed me that much of the things I'd learned was just theory that is somehow useless in real life, since they don't help me get a job... I couldn't get a job in the engineering field and decided to study for Master's degree, now I've passed half of the course and I'm very very bored. I feel like I'm learning more of the irrelevant stuff.

Forex is much more interesting because it gives me the opportunity to practice the things I'm reading in the books. And this practice shows me where I'm wrong and where I'm right, moreover it teaches me greater lessons than the books.

@ fti
Hi there, I guess you are ripping off your broker(bucketshop),since you are very profitable, so they try to keep you away from the market. I hope one day I get to your level and have such kind of problems Untill then I will have to deal with my bad trades, and not the broker
  • #14,309
  • Apr 13, 2010 4:10pm Apr 13, 2010 4:10pm
Quoting Setebos
To make a step back on the broker topic - I use a currenex white label one - a local rep of ODL Securities. It's not the cheapest solution but I admit I've had relatively few occasions of slippage and it was only on a very fast moving market. Another plus for me is the mt4 platform, but I guess that's up to the individual taste.
I've heard a lot of good stuff for MB Trading, anyone tried them?

Rgrds
S
I've used Mb for about 6 months (last year) the platform was pretty easy to understand while commissions plus spread were comparable with Alpari (that i still use) so not so big difference with usual bucket shop. Sometimes their platform lost connection even for 10/15 min (mostly before news) and that was very bad, call center was pretty fast and well trained, i saw they made many changes in the last period, so maybe they improved the platform...
I trade with Alpari and never had big issues, though in the last 2 months i'm experiencing many requotes. Maybe it's because i now trade much more and profitable than before...
  • #14,310
  • Apr 13, 2010 4:15pm Apr 13, 2010 4:15pm
Today, when market was testing 1.3620 area. my Oanda lost connection and re-connected when the testing failed. After a while, when breaking 1.3560 area, it lost connection again and re-connected when market reversed up.

I know they had maintainess or something else, but recently, the connection problem happens only on the critical levels. How could it possible their technical problem happens only on critical levels?

I know there might be the so called “Server Overloaded" problem. But how could it possible a broker doesn't know how many traders online at anytime and design their server capacity accordingly?

Ｉlost respect to Oanda which I have been with for so many years. Now, when I talk with their live chat, I only speak of 4 letters dirty words. They don't deserve professional conversation.
  • #14,311
  • Apr 13, 2010 8:42pm Apr 13, 2010 8:42pm
Quoting jacson101
@fti
Lines are off everywhere.
This can trickle down even to the retail, and I highly doubt retail outfits have the ability to have multiple counterparties or even multiple prime brokering relations as this would go against many if not all the dealing agreements.

Tiered boys are using limits these days and then gapping away.
Something along the lines of this..
http://www.bloomberg.com/apps/news?p...d=aieZHggSt0ks

Regards sir,
J
interesting story, thanks for posting
  • #14,312
  • Apr 13, 2010 10:13pm Apr 13, 2010 10:13pm
Hi all,
Regarding market access, I have very limited experience. So far I have delt only two chinese banks. The spread is very high. 10---14pips. And the connection was not reliable. And re-quote.
I thought citi and DB should be my first choice of brokers if I want to go live with margin and reasonable spread. Now all margin fx business are not allowed in China. People say that is why they chose to operate in HongKong, the window of China. And the next step is China.
Anyway I contacted them. It’s their policy to accept a customer if you have proof of residence in HongKong, be it a bank statement, a water bill etc. And some people say they opened accounts with the help of friends in HongKong to get that proof. But I don’t know if this is the right thing to do, “the proof part”. We want big names to get more credit assurance. But they only accept customers from HK and USA. So do we have to get that proof to keep away from all those shady bucketshops? And are these big names reliable? No idea yet.
Hope the above info could be of help.
Regards.

  • #14,313
  • Apr 14, 2010 12:55am Apr 14, 2010 12:55am
I think Fti sir mentioned this a while ago , that gold is controlled heavily by the bigboys , a news came out,

http://www.inteldaily.com/2010/04/gold-manipulation/
To Live is the rarest thing in the world , Most people exist , that is all
  • #14,314
  • Apr 14, 2010 2:06am Apr 14, 2010 2:06am
Quoting fti
Of course still teething problems ?

http://www.facebook.com/home.php?#!/video/video.php?v=286672743938

regards
Are you on facebook fti? Will you be my friend?
  • #14,315
  • Apr 14, 2010 2:17am Apr 14, 2010 2:17am
Quoting Zoran
Are you on facebook fti? Will you be my friend?
Aaaah - TAF goes Facebook now ...

Seems to be only a question of time, when there are trade calls on Twitter ;-)
  • #14,316
  • Apr 14, 2010 2:18am Apr 14, 2010 2:18am
Quoting fti
hummm, mahes, hope thats the case. BUT i expect the highest levels of professionalism from them.
regards
fti and all. It is possible to send mouse position info to a bro-ker such as when the mouse is over a certain button. So if you place your mouse over the buy or sell button, they can in theory know about it.

However, they cannot easily cover up this information. With a program that monitors network traffic (obtained freely over the internet), it can be set to filter information going only to the bro-ker and it wouldn't be difficult to check whether mouse position information is being sent to them. You simply place your mouse over certain buttons and check whether it generates traffic to the bro-ker. If it does then you know they are monitoring it.
  • #14,317
  • Apr 14, 2010 2:26am Apr 14, 2010 2:26am
Quoting Zoran
fti and all. It is possible to send mouse position info to a bro-ker such as when the mouse is over a certain button. So if you place your mouse over the buy or sell button, they can in theory know about it.

However, they cannot easily cover up this information. With a program that monitors network traffic (obtained freely over the internet), it can be set to filter information going only to the bro-ker and it wouldn't be difficult to check whether mouse position information is being sent to them. You simply place your mouse over certain buttons...

Hi Zoran and all,

I do not see any sense in tracking Mouse moves.
All that counts is the final action, that was triggered by a Mouse click or a hotkey. And that event is send by a mesage to the broker or any kind of "spy". After that the borker can treat you "as bad as he wants", if he want's to do so. There is no need to track your mouse moves while you are trading.
Yes, I guess it is technical possible to track your mouse. But from my point of view/eperience it is completely nonsense to do so. It would require a lot of computer power to track the mice of all the customers and it would provide no addtional info for the broker ....
And you could prevent that way of spionage easily by using hotkeys instead of your mouse ...

Just my 0.02 EUR

MaMood
  • #14,318
  • Edited 2:53am Apr 14, 2010 2:37am | Edited 2:53am
Quoting maheswara
I think Fti sir mentioned this a while ago , that gold is controlled heavily by the bigboys , a news came out,

http://www.inteldaily.com/2010/04/gold-manipulation/
Hi Maheswara

... and we are the engine for this deception "run for confectionery"
Attached Images
  • #14,319
  • Apr 14, 2010 3:07am Apr 14, 2010 3:07am
@gro,
as usual gro , great picture with direct meaning , love it
To Live is the rarest thing in the world , Most people exist , that is all
  • #14,320
  • Apr 14, 2010 3:26am Apr 14, 2010 3:26am
Quoting MaMood
Hi Zoran and all,

I do not see any sense in tracking Mouse moves.

Just my 0.02 EUR

MaMood
I tend to agree except I have noticed some unusual price movement when my mouse is over the buy or sell button. Not sure whether it was just coincidence or intentional.
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