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Cable Update (GBPUSD)

  • #244,021
  • Aug 6, 2010 11:30am Aug 6, 2010 11:30am
Quoting cloggie
I use a few Indy's just to simplify some of the processes you need such as a few MA's and Pivots. Lots easier to have your computer do the work for them then try to figure them out yourselves..
May I ask, what MA's do you use 200? 20?
  • #244,022
  • Aug 6, 2010 11:33am Aug 6, 2010 11:33am
Quoting 4xStar
MBT has one of the best reputations on the internet. I have used FX Solutions for 2 years & never a problem, but once my account grows to $5k I plan to switch it to either MBT or TradeStation. More flexibility. TS has a tremdous charting platform .. which may be unnecessary now that I only trade with tls and boxes LOL. So maybe MBT with their 'no spread' & excellent service.

This is the last post on brokers, but think about this list:

MBT capital: $25,052,764
FX solutions capital: $38,389,047
FXCM capital: $76,532,090

http://www.cftc.gov/ucm/groups/publi...cmdata0510.pdf
  • #244,023
  • Aug 6, 2010 11:35am Aug 6, 2010 11:35am
Quoting cloggie
That is the inherent problem of MT4 itself purely due to the latency and has nothing to do with the broker. There is a latency issue with processing orders in MT4 due to the infrastructure of MT4 itself, once you use another platform, as I do, for your orders you can really see the difference. I get pretty much instant execution even during news. I can't tell the difference between any of my 3 brokers either from a latency point of view or slippage at execution.

I am just about done for the day and am planning on posting a lot less next week....
You have already done enough. Everyone has plenty of information and it is up to us to figure it out. Like anything it will take endless hours of practise. As usual there will be those that don't want to do the work and will think there is one more secret you are holding back.

Personaly I have learned more this week that is actually useful to my bottom line than everything I have paid for or got for free sense I started 10 months ago.

Thank you
Mike
  • #244,024
  • Aug 6, 2010 11:40am Aug 6, 2010 11:40am
Quoting cloggie
They are way too big to be hunting stops of mini account holders. Most of the traders that I know personally have accounts with them, I feel secure leaving a large balance on my account knowing they are not going to fold and disappear on me. I like it that they are FSA registered. But picking your broker is personal, just do your due dilligence. As to a few losing retail traders b!tching about them on the net, I don't really care, most losing traders blame their brokers, it is the nature of retail trading. Lots easier to blame someone else then...
exactly, we should take responsibility of our action. despite all trashing comments on the net, they are the only broker I used since the day first trading live. during my learning curve, I blew a few accounts & lost +100k but never bitched about the broker since it was purely my poor decisions on those day, later I made twice as much, still never had a problem on deposits or withdrawals. on execution, they are not perfect but the are one of the good ones, sometimes there are slippage but we should not forget a few years back spread was as much as 15-20 pips and no leverage. often we forget about 100-200 pips losing trades and blame the broker for 1-2 pips here and there.

I should clarify that I have no relation with them except being client and this was just my honest opinion. to be a better trader we should improve our skills, not blaming others.
  • #244,025
  • Aug 6, 2010 11:43am Aug 6, 2010 11:43am
Quoting Elite_trader
I blew a few accounts & lost +100k

This is a great example, that 100k was your price of participation, you never gave up, you learned, improved and made your entrance fee back. That's what trading is about.
  • #244,026
  • Aug 6, 2010 11:46am Aug 6, 2010 11:46am
Quoting cloggie
This is a great example, that 100k was your price of participation, you never gave up, you learned, improved and made your entrance fee back. That's what trading is about.
right, " winners never quit, quitters never win"
  • #244,027
  • Aug 6, 2010 11:51am Aug 6, 2010 11:51am
Quoting Elite_trader
right, " winners never quit, quitters never win"
Sorry to hear u lost that money
If u don't mind , How long u been trading?
  • #244,028
  • Aug 6, 2010 11:56am Aug 6, 2010 11:56am
Quoting egkid
Sorry to hear u lost that money
If u don't mind , How long u been trading?
I am not sorry egkid, that was part of learning the rules of the game. I never spend a day demo trading and that's just my personality to learn thing the hard way. Have been trading for 3 years now, I was down the first but was profitable last 2 years.
  • #244,029
  • Aug 6, 2010 11:59am Aug 6, 2010 11:59am
Quoting cloggie
This is the last post on brokers, but think about this list:

MBT capital: $25,052,764
FX solutions capital: $38,389,047
FXCM capital: $76,532,090

http://www.cftc.gov/ucm/groups/publi...cmdata0510.pdf
Crooks get richer faster. What is new about that?
******************* I'd rather make money than be right.
  • #244,030
  • Aug 6, 2010 12:02pm Aug 6, 2010 12:02pm
One last chart for the weekend, if you go over my posts this week you will see these 2 TL's on it all week, that shows you how important TL's are and how you should never discard them until the price does. Save your day's planning as a template and keep referring to it during your day's and week's trading. It also shows you the 3 levels that have been on here all week and how the range play in between them has worked out perfectly, right now we are testing the top range which was the option barrier that came into play this week.

Have a good weekend boys and girls, see you on Monday.
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  • #244,031
  • Aug 6, 2010 12:04pm Aug 6, 2010 12:04pm
Quoting Elite_trader
I should clarify that I have no relation with them except being client and this was just my honest opinion. to be a better trader we should improve our skills, not blaming others.
It is NOT blaming others. You can do a google research on brokers and find thousands of complaints against FXCM as opposed to a lot less against MBT and FXSol .. and those few are usually the disgruntled traders. It is easy to tell the difference when reading the complaints. The vast majority of valid complaints have nothing to do with winning or losing.
I know what they did to me .. and it had nothing to do with my trading, once I switched to FX Sol it was like night & day even though my trading did not improve & actually got worse for awhile.
I promised myself I would warn others whenever I could.
Do your own research.
******************* I'd rather make money than be right.
  • #244,032
  • Aug 6, 2010 12:06pm Aug 6, 2010 12:06pm
Quoting 4xStar
It is NOT blaming others....

One more post, FXCM just attracts more reaction because they have just about the most customers, laws of averages. But you need to use a broker that you are comfortable with, meanwhile I just stay with the best capitalised one that is regulated in my region and one that I have confidence in will be around long enough for me to trade with. And like I said earlier, once you see the balance I keep with them without a worry you will understand. I can spend more in a day on commissions then most posters here have in their account.
  • #244,033
  • Aug 6, 2010 12:07pm Aug 6, 2010 12:07pm
Quoting 4xStar
It is NOT blaming others. You can do a google research on brokers and find thousands of complaints against FXCM as opposed to a lot less against MBT and FXSol .. and those few are usually the disgruntled traders. It is easy to tell the difference when reading the complaints. The vast majority of valid complaints have nothing to do with winning or losing.
I know what they did to me .. and it had nothing to do with my trading, once I switched to FX Sol it was like night & day even though my trading did not improve & actually got worse for awhile.
I...
I did a lot of looking and went with MB Trading because they have a thread here and when someone has a problem they take care of it . Most compaints are handled in the open on the forum.
  • #244,034
  • Aug 6, 2010 12:08pm Aug 6, 2010 12:08pm
Quoting Elite_trader
I am not sorry egkid, that was part of learning the rules of the game. I never spend a day demo trading and that's just my personality to learn thing the hard way. Have been trading for 3 years now, I was down the first but was profitable last 2 years.
1-There are some of few best traders on FF u can make u r view and check their view if agree with u that great if not review your plan but don't follow anyone.
2- MM is your Tank of oxygen while u diving on sea forex

3- Always check Higher TF what it says and remember higher TF better view

This video i Like so much I maybe listen to it 5 time before
Inserted Video


Wish u All the best
Happy weekend to ALL
  • #244,035
  • Aug 6, 2010 12:16pm Aug 6, 2010 12:16pm
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting egkid
1-There are some of few best traders on FF u can make u r view and check their view if agree with u that great if not review your plan but don't follow anyone.
2- MM is your Tank of oxygen while u diving on sea forex

3- Always check Higher TF what it says and remember higher TF better view

This video i Like so much I maybe listen to it 5 time before
http://www.youtube.com/watch?v=jf_mH...layer_embedded

Wish u All the best
Happy weekend to ALL
Hello egkid..

Good day to you,
Great job..
is your shorts still running on GU & EU or did you exit the positions.

regards
  • #244,036
  • Aug 6, 2010 12:19pm Aug 6, 2010 12:19pm
Quoting 4xStar
Crooks get richer faster. What is new about that?
true, Nice point of view
Happy weekend Sis
  • #244,037
  • Aug 6, 2010 12:23pm Aug 6, 2010 12:23pm
Quoting egkid
true, Nice point of view
Happy weekend bro
4xstar is a lady
  • #244,038
  • Aug 6, 2010 12:24pm Aug 6, 2010 12:24pm
Quoting cloggie
Always keep your TL's and SR's on it for next week, until price tells you other ones have formed. What I meant was that the LO needs to coincide with a new H4 bar to trade Cable effectively, Cable volume is roughly 70% centered around London. As FX trading overall, London is responsible for 1/2 the worlds volume with NY about 1/8
Good day to you Cloggie. sorry to bug you but i find your posts awesomely educative. unfortunately, i am still "this year" new to trading and dont understand a lot of things you say (terminologies can be confusing). please help guide me like a noob on that riverbox trading style that you mentioned about last friday. i personally think it makes more sense to trade using price action and that sounds like what you are saying and teaching. i also asked earlier if there is any article or book you can recommend for me to read to be better able to understand how you draw all those TLs and trade off pivots etc. it also wows me how you can predict where price will reach before reversing etc. i also asked how i can be one of those people you coach on the side. will really appreciate a positive response from you. i am dog tired of losing losing losing and i never give up in anything i have a passion for.

thanks.
  • #244,039
  • Aug 6, 2010 12:24pm Aug 6, 2010 12:24pm
Quoting 4xStar
It is NOT blaming others....
4xstar, you should do your due diligence first and deal with the broker you feel comfortable with. it's the mater of personal preference, so good if you are happy with them
  • #244,040
  • Aug 6, 2010 12:26pm Aug 6, 2010 12:26pm
Quoting samirb
Hello egkid..

Good day to you,
Great job..
is your shorts still running on GU & EU or did you exit the positions.

regards
I only sell yesterday for fun "Mostly don't do that and only trade with trend but it was one time ", but my long term view Long as my 4H and Daily says so for while.
BTW TP1 was 1.60

Must run now Catch u next week
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