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  • #301,161
  • Oct 5, 2010 3:13pm Oct 5, 2010 3:13pm
Quoting gatorinla
3668 did not hold. so here we are. at the current time we topped within a pip of 3859. i usually dont trust these cause pa always wants its pip, when so close. it still may come back and get it. but at same time we hit 3859 the usdx hit a target. at 77.74 (currently at 77.74 with a low at 77.67).. i got a stong support at 77.57.......... anyway we usually bounce after targets are hit..

above this using 77.57 as a bounce potential. resistance at 38794 and target 3894 + s... we are toppy... but the trend...
mt4 (alpari that is) shows me 38589... oanda says 38591...
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  • #301,162
  • Oct 5, 2010 3:19pm Oct 5, 2010 3:19pm
Quoting Mr Hatch
mt4 (alpari that is) shows me 38589... oanda says 38591...
im short 1/10.... since we didnt get slip after.. could be a double top +. in the future. or it could mean im full of shit. i have seen them miss by a pip twice then reversal.
those who can, do. those who cant, talk about those who can
  • #301,163
  • Oct 5, 2010 3:24pm Oct 5, 2010 3:24pm
Quoting gatorinla
w/o a new top.. pullback to 3824 and mid at 3841 with respect.. this would be #1... #2 mid is 3824 and target at 3790
it was respected. now will we bounce to #1 mofu.. critical time..cause action may bring bulls..
those who can, do. those who cant, talk about those who can
  • #301,164
  • Oct 5, 2010 3:24pm Oct 5, 2010 3:24pm
Quoting Sunsi
I will check it out!
I can see right away that they have chaning spreads.. How does that work?
Thanks
They are a true ECN (unlike most brokers people use on this forum) and they charge a small commission per trade that comes out to $2.99 per 100k traded.

N00bs generally shy away from commission thinking they're getting nickled and dimed, but the truth is it saves you a boat load of money... all the "no commission" advertising has gone to people's heads and they've been conditioned to think this is a good thing.

In actuality, the spread is a commission... just in another form. A standard (100k) lot of EUR/USD will cost you 2 pips on most brokers which equates to $20. That means the position need to move 2 pips or $20 worth in order for you to simply break even. You're commission is essentially that $20 one way. The "one way" is important here because in order to sell, you pay the spread once again. For example, you can't sell EUR/USD at 1.3810 when then bid/ask is 1.3808/1.3810... you need to wait another 2 pips (or $20 more) before you can sell. So really, you end up paying $40 to take this trade.

On a brokerage like MBTrading, you're spread is reduced to 0.90 pips + $2.99 each way. Some simple math using the same above example shows us that the same trade costs you $23.98 (0.9pips at $10/pip = $9... add on the $2.99 and do this for the buy and the sell or "round turn").

So, you're actually saving $16.02 for every standard lot you trade round turn, or $8.01 for every 100k traded.

It's beyond me why people don't realize this.
check out my blog: forexmademillionaire dot com
  • #301,165
  • Oct 5, 2010 3:29pm Oct 5, 2010 3:29pm
Quoting Geppy
They are a true ECN (unlike most brokers people use on this forum) and they charge a small commission per trade that comes out to $2.99 per 100k traded.

N00bs generally shy away from commission thinking they're getting nickled and dimed, but the truth is it saves you a boat load of money......
mb will lower commission on high volume traders.
those who can, do. those who cant, talk about those who can
  • #301,166
  • Oct 5, 2010 3:29pm Oct 5, 2010 3:29pm
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  • #301,167
  • Oct 5, 2010 3:29pm Oct 5, 2010 3:29pm
Quoting Geppy
They are a true ECN (unlike most brokers people use on this forum) and they charge a small commission per trade that comes out to $2.99 per 100k traded.

N00bs generally shy away from commission thinking they're getting nickled and dimed, but the truth is it saves you a boat load of money... all the "no commission" advertising has gone to people's heads and they've been conditioned to think this is a good thing.

In actuality, the spread is a commission... just in another form. A standard (100k) lot of EUR/USD will cost you 2 pips on most brokers...
Thanks! Very helpful! I will look more into this, looks like I can save myself alot of money on chaning broker!
Can they change the spread for me while I am in a position? Do they have any maximum spread?
  • #301,168
  • Oct 5, 2010 3:30pm Oct 5, 2010 3:30pm
Quoting gatorinla
it was respected. now will we bounce to #1 mofu.. critical time..cause action may bring bulls..
gator, honestly, when did you start trading?
  • #301,169
  • Oct 5, 2010 3:32pm Oct 5, 2010 3:32pm
Quoting gatorinla
mb will lower commission on high volume traders.
Yep, most brokers will. When you make them a bunch of money they'll go out of their way to accommodate you.
check out my blog: forexmademillionaire dot com
  • #301,170
  • Oct 5, 2010 3:32pm Oct 5, 2010 3:32pm
Hatch - I'm convinced Gator devised the forex system
Disclaimer: Check your 1m charts
  • #301,171
  • Oct 5, 2010 3:33pm Oct 5, 2010 3:33pm
Quoting Sunsi
Thanks! Very helpful! I will look more into this, looks like I can save myself alot of money on chaning broker!
Can they change the spread for me while I am in a position? Do they have any maximum spread?
Spreads are not static, so yes they will change a bit while you're in a position but if you watch them... they have a pretty steady average 90% of the time and it's lower than 90% of brokers out there (but in line with legitimate brokers)
check out my blog: forexmademillionaire dot com
  • #301,172
  • Oct 5, 2010 3:39pm Oct 5, 2010 3:39pm
Quoting pipper
Hatch - I'm convinced Gator devised the forex system
Gator started trading right after his 6th b/day
  • #301,173
  • Oct 5, 2010 3:40pm Oct 5, 2010 3:40pm
I went short due to what I see on the hourly.Target is 1.377
  • #301,174
  • Oct 5, 2010 3:41pm Oct 5, 2010 3:41pm
Quoting gatorinla
next challenge
target hit.
those who can, do. those who cant, talk about those who can
  • #301,175
  • Oct 5, 2010 3:42pm Oct 5, 2010 3:42pm
thinking to long eur/usd at 1.3800
or maybe it's too early..it may correct to 1.3600 before heading to 1.4
  • #301,176
  • Oct 5, 2010 3:44pm Oct 5, 2010 3:44pm
Quoting Mr Hatch
gator, honestly, when did you start trading?
i don't recall..
those who can, do. those who cant, talk about those who can
  • #301,177
  • Oct 5, 2010 3:45pm Oct 5, 2010 3:45pm
Quoting Geppy
They are a true ECN (unlike most brokers people use on this forum) and they charge a small commission per trade that comes out to $2.99 per 100k traded.

N00bs generally shy away from commission thinking they're getting nickled and dimed, but the truth is it saves you a boat load of money... all the "no commission" advertising has gone to people's heads and they've been conditioned to think this is a good thing.

In actuality, the spread is a commission... just in another form. A standard (100k) lot of EUR/USD will cost you 2 pips on most brokers...
Great post. Totally agree with you, people think spreads only are the way to go but it's far less expensive to go commission.
My Dukascopy account costs me $19.25 plus 1 pip spread per 100K after the rebates I get from my IB and they are also true ECN.
If only I knew then what I know now...
  • #301,178
  • Oct 5, 2010 3:52pm Oct 5, 2010 3:52pm
Quoting Ayman79
thinking to long eur/usd at 1.3800
or maybe it's too early..it may correct to 1.3600 before heading to 1.4
If u r in live account my advice go to demo if u care about ur Money.
  • #301,179
  • Oct 5, 2010 3:52pm Oct 5, 2010 3:52pm
What will destroy this bullish trend. What happened to parity seriously

Is europe doing so well>>>>
  • #301,180
  • Oct 5, 2010 3:54pm Oct 5, 2010 3:54pm
Quoting Mr Hatch
is there any way to navigate larger fractions of time when switching from H4 to M5 on a specific date? this platform is giving me headaches when I always have to scroll weeks...
Hi, klick on the chart, than ENTER and in the lower left corner a small cell will pop up. There you can insert the date, or the currecy, or the timeframe

Hope that works
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