Nanningbob 4h trading system ver. 5.0 | Page 96 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Nanningbob 60x90 EA 3,920 replies

NanningBob's 4H Sellhigh BUYLOW 158 replies

Help regarding NanningBob EA 27 replies

Nanningbob 4H trading system 2,017 replies

Help to improve profitable EA - 1H NanningBob 40MA 200 BB 10 replies

Attachments: Nanningbob 4h trading system ver. 5.0
Exit Attachments

Nanningbob 4h trading system ver. 5.0

  • #1,901
  • Sep 16, 2010 9:04am Sep 16, 2010 9:04am
.53 more than IBFX x 100 trades is a 53 dollar difference. That is not small potatoes. You multiply that times thousands of traders and 100K of trades and you begin to realize how big this is. Once other brokers see this, guess what will happen next???
  • #1,902
  • Sep 16, 2010 9:48am Sep 16, 2010 9:48am
Quoting nanningbob
.53 more than IBFX x 100 trades is a 53 dollar difference. That is not small potatoes. You multiply that times thousands of traders and 100K of trades and you begin to realize how big this is. Once other brokers see this, guess what will happen next???
I stongly urge everyone (even if you do not have an account with them) to write to FSA and complain to nip this in the bud so to speak. Otherwise if they get away with it others are sure to follow.

Kind regards
  • #1,903
  • Sep 16, 2010 10:02am Sep 16, 2010 10:02am
Quoting macman
Hi Bob,

These cowboys are FSA regulated & the FSA has just had a good shaking about their role in the bank bailouts etc, so they have suddenly found some teeth.

Maybe an idea to ask your broker to justify how the charges are made up and tell them you will refer the matter to the FSA.

Email: [email protected]

A long shot ..... but may make you feel better
Just like spreads are not regulated by government decree, swaps probably are not either. Unless brokers see a large group of traders leaving they will start adapting larger swap rates to offset the competition from spreads. What really angers me is your being charged before the trade is closed thereby reducing your profits. Closed trades are now subject to present trades movements. They used to have to wait until the trade closed first. I can see dealers spiking their rates at times to offset winning trades and traders. To me this is really ugly. I really dont see how to stop this. Your profits and account are now at their mercy before this they didnt touch your closed trades now they have a way to get at them. This will put a big dent in my trading system because I will hold some trades for weeks. It will also make my recovery system more difficult to recover to BE. Instead of BE on the trade I will also have to try to BE on my swaps on open trades. This really sucks when you begin to understand all of the possible ramifications.
  • #1,904
  • Sep 16, 2010 10:33am Sep 16, 2010 10:33am
Quoting nanningbob
They changed their accounting method, it used to be simple you looked at the trade and then you saw the swap right next to it. Now you see a number, you have to go match it with a currency pair and it takes a long time to figure out what is what. The swap was part of the trade now it is dedutcted from your profits and it takes a lot of work to figure out what they are doing. They have figured out a way to confuse the issue so you really dont know what they are doing. I dont have time to play around with a company that obviously is trying to hide...
I could be completely wrong here so dont all shout at one.

My understanding is that this is todo with the proposed transaction tax that is being muted about by Governments etc.

All Brokers, Banks, Hedge Funds and alike will be taxed on transactions.

So, my guess is that some of these Brokers have figured out that its better for them to recoup these additional costs (when/if) they come about by changing their swaps as opposed to windening spreads etc.

I am further guessing that this is very clever from an accounting point of view as by declaring as swaps then their tax liablilty will be lower. So, they are in a win/win situation even if these proposed transaction charges never materialise.

Brokers are too some extent at the mercy of the market when they calculate their swaps etc, so this allows them to reduce the risk across the pairs they offer.

Scoobs.
  • #1,905
  • Sep 16, 2010 11:38am Sep 16, 2010 11:38am
Quoting nanningbob
I posted this at a FXsol UK thread here at FF.

I am angryier than H............ about FXSol UK. They just made a big deal about how they lowered their spreads but what they dont tell you is they charge the swaps daily off of your account and call it a premium fee. They then take the fee daily off of your account. This has some kind of compounding affect because the fees are through the roof. I trade dime lots and this is a new way brokers are out to take your money.

June -- 134 trades swap charge for the month -16.66
July -- 106 trades swap...
Thanks for the heads up! I will watch out for this jumbo stuff in the future... I love this method as it allows me to take the teeth out of the lion (broker).
We are our own best indicator.
  • #1,906
  • Sep 16, 2010 12:54pm Sep 16, 2010 12:54pm
I complained a month ago that it made it difficult to determine what the daily charge was and they said they would look into it . Yea right.
  • #1,907
  • Sep 16, 2010 1:07pm Sep 16, 2010 1:07pm
One broker you might want to look at is TheCollectiveFX. They charge a monthly fee, but have the lowest spreads I have seen, which should more than cover the fee. Here are some of the spreads I am showing right now:

G/U 1.6
E/U 1.2
Aus/Nzd 5.2
U/J 1.1
G/J 2.1
E/J 1.7
Eur/Cad 3.7
  • #1,908
  • Sep 16, 2010 1:18pm Sep 16, 2010 1:18pm
didn't know where to post this. either here or in the ea thread but here goes.
Look at these two EurAud charts. Notice the difference in the sixth lines.

which one is correct?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EA Auto.jpg Size: 174 KB
Click to Enlarge Name: EA Manual.jpg Size: 145 KB
  • #1,909
  • Sep 16, 2010 1:29pm Sep 16, 2010 1:29pm
Quoting jtmoore007
didn't know where to post this. either here or in the ea thread but here goes.
Look at these two EurAud charts. Notice the difference in the sixth lines.

which one is correct?
right-click on chart/indicators

please compare the versions of the 6ths....
let me know
(use 3.6)
Hero calls followed by margin calls...
  • #1,910
  • Sep 16, 2010 1:35pm Sep 16, 2010 1:35pm
Quoting PhAnTi'
right-click on chart/indicators

please compare the versions of the 6ths....
let me know
(use 3.6)

thanks thats the problem. using 5.2 on manual system and 3.6 on auto. it should be the 3.6 in both correct?
  • #1,911
  • Sep 16, 2010 1:45pm Sep 16, 2010 1:45pm
Quoting jtmoore007
thanks thats the problem. using 5.2 on manual system and 3.6 on auto. it should be the 3.6 in both correct?
Quote
it should be the 3.6 in both correct?


Yes.
Hero calls followed by margin calls...
  • #1,912
  • Sep 16, 2010 1:57pm Sep 16, 2010 1:57pm
Quoting Dewey McG
One broker you might want to look at is TheCollectiveFX. ...
Yes, have a look - I just did. Google this company, not (yet) regulated and there are not only few strange comments about out there. Make your own decision.

josch
trading is war - life is simple
  • #1,913
  • Sep 16, 2010 1:59pm Sep 16, 2010 1:59pm
Quoting PhAnTi'

Yes.

thanks, got it all fixed now
  • #1,914
  • Sep 16, 2010 2:41pm Sep 16, 2010 2:41pm
Quoting jtmoore007
thanks, got it all fixed now
you're welcome buddy
Hero calls followed by margin calls...
  • #1,915
  • Sep 16, 2010 3:59pm Sep 16, 2010 3:59pm
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-09-16_1657.png Size: 134 KB
  • #1,916
  • Sep 16, 2010 4:04pm Sep 16, 2010 4:04pm
CollectiveFX requires 10K account, because the smallest unit is .1 or Mini right?

I'm using forex.com, ibfx and ATC.

I can barely stand forex.com, but they are always up, no games really that this system won't handle. But, their commissions are probably in the bottom 10%...

I LOVE IBFX and I use a sister account to hedge and then just transfer the money back/forth. It works the same as having hedging, but considering their stance on Frank/Dodd, then I will probably be leaving.

ATC I have been using with futures trading 1+ years and now forex. I have to say that in my opinion, they are probably the best little company you could work with. They get their stuff from FXCM... Spreads don't matter as much with this technique compared to some, but their spreads are excellente!

Requires 10K minimum account though...
We are our own best indicator.
  • #1,917
  • Sep 16, 2010 4:37pm Sep 16, 2010 4:37pm
Seems the compounding swap is due to forex brokers trying to increase profits. Alot of stock brokers that now offer forex trading charges a flat rate of $3.95 per trade and I believe this is what is leading to forex brokers to try to match that and to try to get away with it...
  • #1,918
  • Sep 16, 2010 5:04pm Sep 16, 2010 5:04pm
Quoting bluemele
CollectiveFX requires 10K account, because the smallest unit is .1 or Mini right?
Collective does not require 10k and they do trade microlots. I have been very happy with them so far. They have an unusual setup which they claim makes them exempt from the new regulations.

I also have an account with Gallant who are not bad. Thye have a $500 minimum.
  • #1,919
  • Sep 16, 2010 5:31pm Sep 16, 2010 5:31pm
Quoting jtmoore007
didn't know where to post this. either here or in the ea thread but here goes.
Look at these two EurAud charts. Notice the difference in the sixth lines.

which one is correct?
The second one is the one I use but certain systems cant use that sixths indicator for their other indicators. They need a fixed setting for the number of candles.
  • #1,920
  • Sep 16, 2010 6:20pm Sep 16, 2010 6:20pm
Quoting Dewey McG
One broker you might want to look at is TheCollectiveFX. They charge a monthly fee, but have the lowest spreads I have seen, which should more than cover the fee. Here are some of the spreads I am showing right now:

G/U 1.6
E/U 1.2
Aus/Nzd 5.2
U/J 1.1
G/J 2.1
E/J 1.7
Eur/Cad 3.7
Yes low spreads are important but I would rather pay a higher spread and have an honest broker then all this stupid gimmick stuff. The spread on these 5 digit brokers means nothing when they spike the spread at the time you take the trade. If you dont believe me watch your tick chart when you take a trade. You will see the spread widen suddenly and then go back after the trade is taken. FXSol was a fixed spread 4 digit broker where you knew exactly what your costs were going to be. No gimmicks and then they did this crap with the swap. Not only that, you never know what a broker is really like until you try to get the check from your profits. You can have your disagreements at times with IBFX but they cut a check with no added charges and I get it within the week. There are a lot of brokers you cant get a check or wire without paying extra charges and then the time it takes to get it .......... well good luck. I quit looking at Australian brokers because of the costs of getting the check. By the time they add their charge and my bank adds its charge for a bank wire it is not worth it. So when you buy a product you have to look at everything and most of the time you dont know until they have their hand in your pocket and have grabbed a nice portion of your money.
0 traders viewing now