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Silent Service Method

  • #10,221
  • Aug 4, 2010 10:07am Aug 4, 2010 10:07am
Quoting Arfer Daily
You can trade everything at 0.01 but on certain things like ftse100 or dji that works out to £1 a tick. You can trade the s + p 500 with a 50 pip spread at 0.0062 pence per tick which is a lot cheaper and dji and sp500 tend to move together anyway.
...
great. thanks. maybe you share your experience with them after a couple of weeks.
meine augen sind die sterne
  • #10,222
  • Aug 4, 2010 11:06am Aug 4, 2010 11:06am
Quoting Arfer Daily
AVA Fx Demo. I opened a live account today, going to fund it soon and get trading next month. Most of the problems people have with brokers is to do with execution, slippage, spread widening when news trading, etc. I'm trading weekly charts so not as worried about any of that.
Thanks - i'll look into it...

On another note - will Nzdusd every break out of the range its been in recently? Its right now at the very top and im 0.7% up, and my SL is just under the lower extreme which would breakeven...

Summer is slow
  • #10,223
  • Aug 4, 2010 11:23am Aug 4, 2010 11:23am
Quoting aserbfx
great. thanks. maybe you share your experience with them after a couple of weeks.
I don't know how many trades I will have done over a couple of weeks but I'll definitely let everyone know how it goes over the longer term.
Position trader - Anything intraweek is just noise...
  • #10,224
  • Aug 4, 2010 11:27am Aug 4, 2010 11:27am
Quoting jicjoc
Thanks - i'll look into it...

On another note - will Nzdusd every break out of the range its been in recently? Its right now at the very top and im 0.7% up, and my SL is just under the lower extreme which would breakeven...

Summer is slow
I thought NzdUsd was breaking through the top of a bullish flag ages ago and it went the wrong way. I think maybe the safest way to trade this, if it is indeed a bullish flag, is to wait for it to break resistance at the top of the pole and look for a retrace to that level?

It could just be yanking everyone's chain for weeks to come though!
Position trader - Anything intraweek is just noise...
  • #10,225
  • Aug 4, 2010 11:44am Aug 4, 2010 11:44am
The spreads for AVA Fx forex can be found on the site. What is less obvious is the spread/tick size/minimum position for the commodities, indices and stocks.

Here's a list of the instruments with the lowest minimum postion as these are the ones I intend to trade. Most of them are 6.25 pence per tick (£0.0625p) except for the higher spread ones which go down to a tenth of that so you don't need a bundle of cash to open a trade.

Crude Oil 4 tick spread, 0.0627 pence per tick, opening position for 0.01 -0.25 pence.

Gold 70 tick spread 0.00627 p/t, -0.44

Platinum 12 tick spread 0.0625 p/t, -0.75

S + p 500 50 tick spread 0.0062 p/t, -0.31

Stocks 50 tick spread 0.0062 p/t, -0.31

Nat Gas 5 tick spread 0.0625 p/t, -0.31

Heating Oil 25 tick spread 0.0625 p/t, -1.56

Gasoline 20 tick spread 0.0628 p/t, -1.25

Cotton 15 tick spread 0.0628 p/t, -0.94

Sugar 1 tick spread 0.63 p/t, -0.63

Coffee 25 tick spread 0.062 p/t, -1.56

5 yr notes 4 tick spread 0.0625 p/t, -0.25

10 yr noted 5 tick spread 0.0625 p/t, -0.31

30 yr bonds 6 tick spread 0.063 p/t, -0.38

As you can see none of the above cost you an arm and a leg to open a 0.01 position and the tick value makes them very affordable to trade even with a small account. There are other things you can trade on there but they are higher spreads or higher tick values and so too expensive to trade with a smaller account. Also bear in mind I'm trading weekly charts so I need to be comfortable with taking a 200, 300, 500 tick loss if it comes it to it.

I hope this helps someone?
Position trader - Anything intraweek is just noise...
  • #10,226
  • Aug 4, 2010 11:46am Aug 4, 2010 11:46am
Quoting Arfer Daily
I thought NzdUsd was breaking through the top of a bullish flag ages ago and it went the wrong way. I think maybe the safest way to trade this, if it is indeed a bullish flag, is to wait for it to break resistance at the top of the pole and look for a retrace to that level?

It could just be yanking everyone's chain for weeks to come though!
I have decided not to pay attention to the Kiwi lately. I mean seriously: "How can you trust someone that pretends to be Australian?"

Of course, the same could be said for Canada. I mean that new state.
  • #10,227
  • Aug 4, 2010 12:08pm Aug 4, 2010 12:08pm
Quoting aserbfx
great. thanks. maybe you share your experience with them after a couple of weeks.
Aserbfx....

Remind me again why I don't own this (PS -- This is a round-about way of saying: EXCELLENT CALL!). Are you still long??

http://finviz.com/publish/080410/PCLNc1dl1305.png

I think it's safe to move the stops up now!!
  • #10,228
  • Aug 4, 2010 1:06pm Aug 4, 2010 1:06pm
unfortunately ... NO. i sold at about 230usd.
i already saw it yesterday after news and screamed...
from about 200 usd to 280 usd. god dammit!

but anyway, there are oppportunities day in day out...

Quoting InfinitySL
Aserbfx....

Remind me again why I don't own this (PS -- This is a round-about way of saying: EXCELLENT CALL!). Are you still long??

http://finviz.com/publish/080410/PCLNc1dl1305.png

I think it's safe to move the stops up now!!
meine augen sind die sterne
  • #10,229
  • Aug 4, 2010 2:17pm Aug 4, 2010 2:17pm
Quoting aserbfx
unfortunately ... NO. i sold at about 230usd.
i already saw it yesterday after news and screamed...
from about 200 usd to 280 usd. god dammit!

but anyway, there are oppportunities day in day out...

Been there. When you see what you gave up, and it happens enough times - it is then that you understand it's about exits, not entries.
  • #10,230
  • Aug 4, 2010 2:23pm Aug 4, 2010 2:23pm
i bought gold at ~ 1180. anyone long, too? we touched 1200 today, retraced after hard up rally as i supposed. but still in.
  • #10,231
  • Aug 4, 2010 3:01pm Aug 4, 2010 3:01pm
Quoting clockwork71
I have decided not to pay attention to the Kiwi lately. I mean seriously: "How can you trust someone that pretends to be Australian?"
Ha ha - I hear ya

On a more serious note, this brings up a news/cultural issue that was on my mind for a while now.

My personal opinion on anything outside of the chart ie news, rumour, banking crises etc. is that the big players that drive the markets know more & know sooner about the guts of these issue's than any of us outsiders will ever know. So, what we see on the charts IS the news.
The bull candle on euro last week was the result of the stress test etc etc...

So personally as a trader who only enters/exits on a daily close at 10pm GMT
news means nothing to me. Daily Candles, SR at 0%, 50%, 100% are all that concern me. Occasionally a 4hour candle might interest me, but little else

Any comments or opinions?
Thanks
John
  • #10,232
  • Aug 4, 2010 3:12pm Aug 4, 2010 3:12pm
Quoting jicjoc
Ha ha - I hear ya

On a more serious note, this brings up a news/cultural issue that was on my mind for a while now.

My personal opinion on anything outside of the chart ie news, rumour, banking crises etc. is that the big players that drive the markets know more & know sooner about the guts of these issue's than any of us outsiders will ever know. So, what we see on the charts IS the news.
The bull candle on euro last week was the result of the stress test etc etc...

So personally as a trader who only enters/exits on a daily close at 10pm...
There's nowt wrong with technicals lad!
Position trader - Anything intraweek is just noise...
  • #10,233
  • Aug 4, 2010 3:16pm Aug 4, 2010 3:16pm
Quoting InfinitySL
Aserbfx....

Remind me again why I don't own this (PS -- This is a round-about way of saying: EXCELLENT CALL!). Are you still long??

I think it's safe to move the stops up now!!
here comes one more. will enter on retrace...
Attached Image (click to enlarge)
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meine augen sind die sterne
  • #10,234
  • Aug 4, 2010 3:54pm Aug 4, 2010 3:54pm
If the 1:10 leverage were to be imposed and it only affects Americans, am I right that it does? - Could you not just have an overseas broker that is not affected and everything will sort itself out? - A lot of overseas brokers offer USD as their nominated currency anyway.

Just a thought
  • #10,235
  • Aug 4, 2010 4:37pm Aug 4, 2010 4:37pm
Quoting VitaminBeer
If the 1:10 leverage were to be imposed and it only affects Americans, am I right that it does? - Could you not just have an overseas broker that is not affected and everything will sort itself out? - A lot of overseas brokers offer USD as their nominated currency anyway.

Just a thought
Yep, and that's why it's a moot point to be honest.
  • #10,236
  • Aug 4, 2010 4:40pm Aug 4, 2010 4:40pm
Quoting jicjoc
Ha ha - I hear ya

On a more serious note, this brings up a news/cultural issue that was on my mind for a while now.

My personal opinion on anything outside of the chart ie news, rumour, banking crises etc. is that the big players that drive the markets know more & know sooner about the guts of these issue's than any of us outsiders will ever know. So, what we see on the charts IS the news.
The bull candle on euro last week was the result of the stress test etc etc...

So personally as a trader who only enters/exits on a daily close at 10pm...
I believe that you are correct, but I have an other opinion I have been trying to come to grips with:

I believe that a pinbar that forms before a news announcement just shows which direction the market is leaning. You still need a catalyst, a reason for the participants to all run in one direction. If they are leaning in a particular direction, it takes a lot less effort to push them over for example.

I could be wrong. Hey - as long as something works, I don't need to know why.
  • #10,237
  • Aug 4, 2010 5:56pm Aug 4, 2010 5:56pm
I put in a Buy Order for the USDJPY Daily Pin bar at 86.50.

MACD divergence, near all time lows.

I figured it was worth a shot. I messed up not getting in this morning with the 8 hour pin.
  • #10,238
  • Aug 4, 2010 6:31pm Aug 4, 2010 6:31pm
Quoting unlv_tj
I put in a Buy Order for the USDJPY Daily Pin bar at 86.50.

MACD divergence, near all time lows.

I figured it was worth a shot. I messed up not getting in this morning with the 8 hour pin.
If we get a good NFP this Friday, don't close this trade for months.....USD/JPY will absolutely skyrocket if we can get a good number.
  • #10,239
  • Aug 4, 2010 8:26pm Aug 4, 2010 8:26pm
Quoting clockwork71
If we get a good NFP this Friday, don't close this trade for months.....USD/JPY will absolutely skyrocket if we can get a good number.
I did some back testing on P/A that formed a few days before NFP.

I found that often the next day (before NFP Friday) often we would get a weak day, even an inside bar. Then on NFP Friday it would explode in the direction you had planned.

I am giving it a shot. It is all about probabilities, and I have been working at this for too damn long to be scared out of "letting it go"
  • #10,240
  • Aug 4, 2010 10:20pm Aug 4, 2010 10:20pm
http://noir.bloomberg.com/apps/news?...GuoZmp_s&pos=1

This is not a good sign at all.
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