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Silent Service Method

  • #10,141
  • Jul 30, 2010 12:51pm Jul 30, 2010 12:51pm
Quoting Low
I would recommend Oanda to anyone who is just starting out.

I do wish they had more order types, but otherwise they have been fantastic.
Agreed.
And oanda have a new beta platform with new order types.
Im using it now
  • #10,142
  • Jul 30, 2010 12:58pm Jul 30, 2010 12:58pm
Quoting jicjoc
Agreed.
And oanda have a new beta platform with new order types.
Im using it now

How can I get it?
  • #10,143
  • Jul 30, 2010 3:04pm Jul 30, 2010 3:04pm
Quoting Low
How can I get it?
Yes, please tell!

Btw, for those of you that sometimes want to trade when not around a computer, Oanda also offer apps for Iphone and Android.
  • #10,144
  • Jul 30, 2010 3:13pm Jul 30, 2010 3:13pm
Quoting Low
How can I get it?
http://fxtrade.oanda.com/forex_tradi...me/fxgame_beta
  • #10,145
  • Jul 30, 2010 4:07pm Jul 30, 2010 4:07pm
Quoting jicjoc
http://fxtrade.oanda.com/forex_tradi...me/fxgame_beta
Thx
  • #10,146
  • Jul 30, 2010 5:00pm Jul 30, 2010 5:00pm
http://i27.tinypic.com/5uqxya.png
  • #10,147
  • Jul 30, 2010 5:09pm Jul 30, 2010 5:09pm
Quoting Arfer Daily
According to their website it's 3 full lots minimum trade size. It's for pro's you know!
That's ridiculous. I certainly smell a fish as was stated. It's the only platform I have heard of that wouldn't let you trade a standard lot.

Odd. And not good for money management.
  • #10,148
  • Jul 30, 2010 5:10pm Jul 30, 2010 5:10pm
Quoting Low
http://i27.tinypic.com/5uqxya.png
Now, see this is why I'm not very fond of trend lines. I see the validity of your line and that it marries up nicely with 1160 support. If I were to draw one today I'd probably draw it the same as you have, but here's my chart with a trend line drawn long before July 2010:

http://www.forexfactory.com/attachme...1&d=1280527738
Attached Image (click to enlarge)
Click to Enlarge Name: gold.jpg Size: 90 KB
  • #10,149
  • Jul 30, 2010 6:34pm Jul 30, 2010 6:34pm
Quoting Low
...
Oh, and my favorite part, their order entry window calculates your stop value relative to position size and stop distance, so I can determine where my stop should go, and then adjust the lot size to meet my desired risk, without doing calculations on the side.
.
thats what impressed me the most about oanda! really happy with my live account there!

if you dont have much capital to trade with, oanda is really the way to go because the possibility to trade from 1 unit should fit every position you want to take. this way you are able to get used to trading real funds.
also oanda is very well capitalized compared to other bucketshops, however thats no guarantee, but a thing to consider if your opening a live account.

the easy dragging of s/l and t/p is really good, too.

charting really sucks, and as suggested i am using ibfx demo for charting, and some websites.
another great thing about oanda is you can adjust the "time" of the market to fit 5pm ET.

the only "bad" thing is that it seems the java platform uses more resources of my pc compared to mt4.

i tested the dukascopy demo and was able to place a trade with 0,10$ increment per pip, dunno if its just demo, but otherwise there would be no sense to offer 1k min deposit. 0.1 "real" lots would be way to big to trade.
  • #10,150
  • Jul 30, 2010 7:37pm Jul 30, 2010 7:37pm
Quoting o990l6mh
Now, see this is why I'm not very fond of trend lines. I see the validity of your line and that it marries up nicely with 1160 support. If I were to draw one today I'd probably draw it the same as you have, but here's my chart with a trend line drawn long before July 2010:
The debate about trendlines lately seems a little funny to me, if I like them, and I trade them, it's my risk, and what anybody else thinks is not a large part of my analysis.

I'm not looking to buy gold yet, but it's on my watchlist, and we'll see what happens.
  • #10,151
  • Jul 30, 2010 7:58pm Jul 30, 2010 7:58pm
Quoting Low
The debate about trendlines lately seems a little funny to me, if I like them, and I trade them, it's my risk, and what anybody else thinks is not a large part of my analysis.

I'm not looking to buy gold yet, but it's on my watchlist, and we'll see what happens.
I don't think he was questioning your analysis. Just pointing out the subjective nature of where to draw the lines. It's tough to get the "right" level...

The Goldbugs have been in command for a while, lets see if they can bring this thing back, but if it's a fad....watch out!!
  • #10,152
  • Jul 30, 2010 8:50pm Jul 30, 2010 8:50pm
Quoting tobias24
thats what impressed me the most about oanda! really happy with my live account there!
Hey...not to do more shilling for Oanda, but they do pay continuously compounding interest on deposits as well. Which is nice...if you're inactive, at least they are paying you to keep your $ there. It's not much, but at least they realize that you have a choice with where to keep your $$.

Current Interest Rates (with the high rates indicated in red).

Attached Image


Note... I do find it interesting that CNY is negative for both... I guess that just reflects how difficult it is for foreigners to speculate in Chinese currency markets and the built-in expectation of appreciation.
  • #10,153
  • Jul 30, 2010 9:59pm Jul 30, 2010 9:59pm
Quoting InfinitySL
I don't think he was questioning your analysis. Just pointing out the subjective nature of where to draw the lines. It's tough to get the "right" level...

The Goldbugs have been in command for a while, lets see if they can bring this thing back, but if it's a fad....watch out!!
I really want to short gold whenever the major players start raising rates.

Wreaks havoc on gold infrastructure investment, very capital intensive.
  • #10,154
  • Jul 30, 2010 11:19pm Jul 30, 2010 11:19pm
New entry in the blog.
  • #10,155
  • Jul 31, 2010 12:01am Jul 31, 2010 12:01am
Regarding the gold trendline, I would expect the trend to get steeper. That price action with a decreasing trendline and especially last weeks big push below it suggests to me a weakening trend or at least some uncertainty regarding the direction.

After such a massive move up brought on by a calamitous world economic crisis would you not expect an equally fast drop back? I don't think there can be much doubt that gold is way overpriced at the moment and a return to it's true value is long overdue.

This may not be very scientific fundamental analysis but one thing that I have noticed which I think tells us something is that there are no longer adverts on the television for people who are desperate to buy any scrap gold you have lying around. Does this mean they think the price of gold is going to change direction?
Position trader - Anything intraweek is just noise...
  • #10,156
  • Jul 31, 2010 7:17am Jul 31, 2010 7:17am
Quoting Arfer Daily
Regarding the gold trendline, I would expect the trend to get steeper. That price action with a decreasing trendline and especially last weeks big push below it suggests to me a weakening trend or at least some uncertainty regarding the direction.

After such a massive move up brought on by a calamitous world economic crisis would you not expect an equally fast drop back? I don't think there can be much doubt that gold is way overpriced at the moment and a return to it's true value is long overdue.

This may not be very scientific fundamental...
Funny, you are correct....the adverts have slowed down. I didn't notice that to be honest. Maybe it's because they can't afford to buy your gold anymore? lol
  • #10,157
  • Jul 31, 2010 8:10am Jul 31, 2010 8:10am
Quoting Low
The debate about trendlines lately seems a little funny to me, if I like them, and I trade them, it's my risk, and what anybody else thinks is not a large part of my analysis.

I'm not looking to buy gold yet, but it's on my watchlist, and we'll see what happens.
Didn't mean to offend or question your analysis, sorry if I did. I've been on vacation and out of the loop for while so I wasn't aware of any trend line debates either.

I was merely making a point of why I, not you or anyone else, have a hard time really befriending trend lines.
  • #10,158
  • Jul 31, 2010 10:37am Jul 31, 2010 10:37am
Quoting clockwork71
Funny, you are correct....the adverts have slowed down. I didn't notice that to be honest. Maybe it's because they can't afford to buy your gold anymore? lol
Oh no, it's a simple business model, they take your gold, pay you 75% of it's actual value then melt it down and flog it as gold "bullion" for 125% of it's actual value to "savvy" investors who they convince that gold will always be a good buy at any price. (apparently if it's in one big bar it's immune from being a crap long term investment at this price)
Position trader - Anything intraweek is just noise...
  • #10,159
  • Jul 31, 2010 10:40am Jul 31, 2010 10:40am
Quoting o990l6mh
Didn't mean to offend or question your analysis, sorry if I did. I've been on vacation and out of the loop for while so I wasn't aware of any trend line debates either.

I was merely making a point of why I, not you or anyone else, have a hard time really befriending trend lines.
Maybe you don't like trendlines because you haven't learnt how to draw them properly. There's a definitive method that not many people on this forum know about. (this IS sarcasm and you need to read through about 10 pages ago to get the masterclass on trendline drawing from our new guru who has been strangely silent recently after his efforts to teach us all were not gratefully received).
Position trader - Anything intraweek is just noise...
  • #10,160
  • Jul 31, 2010 10:45am Jul 31, 2010 10:45am
Quoting Arfer Daily
Maybe you don't like trendlines because you haven't learnt how to draw them properly. There's a definitive method that not many people on this forum know about. (this IS sarcasm and you need to read through about 10 pages ago to get the masterclass on trendline drawing from our new guru who has been strangely silent recently after his efforts to teach us all were not gratefully received).
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