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Technical Analysis Fallacy

  • #19,661
  • Oct 13, 2010 1:35pm Oct 13, 2010 1:35pm
Quoting piccolo
Hi MaMood,

Where do you get the tick charts from?

Nice setup, looks professional.

Regards,

Hi Piccolo,

i get my Tick charts from dbfx.
Have heard today that they are offering a MT4 platform too, unsing Boston Techology bridge software. Just started to give it a try.
What I have herad so far is very promising. Good spreads, short execution times, STP, very good liquidity and they love scalpers.
From time to time my PowerDance is so fast, that some brokers would classsify my MO as scalping. And we all know what the standard procedure of bucket shops is against scalper.

So I seriously testing dbFX and maybe I'll transfer my main trading account to Deutsche Bank then ...

CU,
Niels
  • #19,662
  • Oct 13, 2010 1:41pm Oct 13, 2010 1:41pm
Quoting maheswara
sweet system niels ... , eyefinity?

@fana ,
I strongly believe anyone giving full focus n dedication will be profitable in matter of time , that is why try not to waste resources along the path...

Hi Maheswara,

no it is not eyefinity.
It is a very "cheap" graphic adaptor, that is able to manage 4 screens. As I'm using 2 PC's in my setup, so there is possibility for expansion of two more screens. ATI Radeon HD4550 is it called. I'm very satisfied with it. But I do not have any gaming ambitions. So they do not need to be very fast ....

CU,
Niels
  • #19,663
  • Oct 13, 2010 1:53pm Oct 13, 2010 1:53pm
Quoting Gro
Hi MaMood
All your submitted information for the other gold price and of course the contributions of other members - personal experience is priceless.
e.g. I have realized such that your "power dance" I can use as a rescue.

PS E/U and U/J if you go in sync., use the relationship E/J

Rgs

Hi Gro,

Thanx for your kind words and the hint on EURJPY.
As you can see I'm using it on my screen already.
It is my proxy for checking the action on the from fti often mentioned "crosses". Very often EURJPY is leading the action in the markets. Especially during Asian and the beginning London session.

Interesting also your way of information reduction down to a single screen. That's not my cup of tea. I like it to watch a kind of "multi source environment". Very often I can spot very strong correlations between one pair of the 3 kingdoms and for example the DOW or Gold. Such a discovery peeds up my decision process dramatically.

But very important for me is to present all the information in an easy to recognize way for my eyes and my mind. Have invested many many hours in finding the optimal way of placing my charts. And it is a kind of eveolution out of several thousand hours of screen time. For Exmaple I have my main M5 trading charts side by side with my timing relevant M1 charts. But the M1 charts are plottet in reverse order (most recent bar at the left), so that my eyes can catch the relevant moves of both charts (M5 and M1) without changing their focus ...

CU,
Niels
  • #19,664
  • Oct 13, 2010 7:37pm Oct 13, 2010 7:37pm
to start thurs. off, will watch how she reacts to the 4042 area.

I thought she wanted to continue up but didnt expect her to do it this way, unfortunately I was out.
  • #19,665
  • Oct 14, 2010 1:49am Oct 14, 2010 1:49am
Good Morning Friends,

seems there has been some action while I was slepping.
EURUSD near 1.41, Cable close to 1.60 - not bad.
Have to hurry to get my chart work ready before the London boys jump in ...


CU,
MaMood
  • #19,666
  • Oct 14, 2010 2:48am Oct 14, 2010 2:48am
Are we really going to break USDJPY 8100?
Strange ....
  • #19,667
  • Oct 14, 2010 2:52am Oct 14, 2010 2:52am
Careful friends!
Tickcharts are showing that markets are very very nervous at these levels ...

Have my finger on the trigger for a large Buy USDJPY position already ;-)
  • #19,668
  • Oct 14, 2010 4:26am Oct 14, 2010 4:26am
Quoting MaMood
Are we really going to break USDJPY 8100?
Strange ....
80 should be the "hit the big red button" zone for the BoJ - at least it was the last time. Hedging around those levels is highly recommendable.

Rgrds
S
  • #19,669
  • Oct 14, 2010 9:06am Oct 14, 2010 9:06am
Hi again,

after the uS figs and the consolidated reaction of the markets I'm long USD. But especially on Cable there is a very stron support around 5980.
Needs some patience and active position management to snipe some pips while waiting with a large position to go down ...

@vick: how does the air taste near Wall Street?
Smell of big Money?
;-)
  • #19,670
  • Oct 14, 2010 10:12am Oct 14, 2010 10:12am
Quoting MaMood
Hi again,

after the uS figs and the consolidated reaction of the markets I'm long USD. But especially on Cable there is a very stron support around 5980.
Needs some patience and active position management to snipe some pips while waiting with a large position to go down ...

@vick: how does the air taste near Wall Street?
Smell of big Money?
;-)
I was about to come and drop and say "Hi" to everyone... and here Mamood dropped my name....

Well everyday i walk past Here...and i find everyday some one talking about some millions here and milions there...

Funny is everyday there is more tourist here then the people who work here...

@mahesh : i also see some of these guys too...remember u telling me u think they are cool guys once...


Just was seeing some nice action on EU and UJ...havent traded in last 3 weeks now as still getting used to new job once settled will start trading again...

Good to see people making pips...


V

BTW: I jsut read this phrase and living in US for 7 years and not seeing my homeland it makes so muhc sense...

"Where we love is home, home that our feet may leave, but not our hearts"
  • #19,671
  • Edited 10:59am Oct 14, 2010 10:25am | Edited 10:59am
Hi,

as you may know already. I'm doing my duediligence on dbFX with the Boston Technologies Bridge for MT4. Doing so I found it very interesting to check out the websites of typical Software developer for the brokerage business. It gives some good ideas how they are working and what they can do with your trading/orders. For example I found that diagram ...

Maybe it is a good idea to build up a little "taskforce", that gets in contact with some software vendors under the label to build up a brokerage of out own. Could be very informative, I'm sure ...

Edit: One info that I found recently:



What spreads can I offer in my SYOB(Start your own Brokerage)?

  1. If you use our BT Prime PB about 0.6 pip all fees included. But you are free to use any LP you are able to find.

What is the risk to having a fixed spread, is it possible that I could be out of pocket?

  1. If you are charging 2pip spread on Eur/Usd and using STP, then it is possible that there will be times where the price feed exceeds your fixed spread. In this scenario, you will be making a loss. However, for the most part, you are making money to offset this scenario. To overcome this scenario, you can widen the spread, set up a dealing desk ......

[...]The bridge execution speed varies between 100 ms, if installed on the same server as the MT4 server and the client software, to 1500ms if the client software, the MT4 server, the bridge and the bank are on different continents.

Attached Image (click to enlarge)
Click to Enlarge Name: flowchart.jpg Size: 179 KB
  • #19,672
  • Oct 14, 2010 11:01am Oct 14, 2010 11:01am
Quoting indianguyinny24
I was about to come and drop and say "Hi" to everyone... and here Mamood dropped my name....

Well everyday i walk past Here...and i find everyday some one talking about some millions here and milions there...

Funny is everyday there is more tourist here then the people who work here...

@mahesh : i also see some of these guys too...remember u telling...

Hey Vick,

thanx for your impressions.
There are times when I envy you for living in that world metropole ...

Wish you all the best!

Cu,
Niels
  • #19,673
  • Oct 14, 2010 11:25am Oct 14, 2010 11:25am
Quoting MaMood
Hey Vick,

thanx for your impressions.
There are times when I envy you for living in that world metropole ...

Wish you all the best!

Cu,
Niels

Same to u my friend....


V

PS: I envy how easily u flip ... so we are even ...
  • #19,674
  • Edited 1:05pm Oct 14, 2010 12:25pm | Edited 1:05pm
again eyes looking for direction, 4042 area .

at the moment watching how au 9927 responds along with 3 kingdoms.

took a quick 20 looking and for direction, unfortunately could have been more, but to rigid and over thinking.
  • #19,675
  • Oct 14, 2010 1:31pm Oct 14, 2010 1:31pm
Hi,

there is an interesting video with the CEO of GXCM from this year. He is talking about how a broker is working. It's a little lengthy, but there some nice insights in ...

http://forexforums.dailyfx.com/drew-...ng-desk-q.html
  • #19,676
  • Oct 14, 2010 5:14pm Oct 14, 2010 5:14pm
Quoting MaMood
Hi,

as you may know already. I'm doing my duediligence on dbFX with the Boston Technologies Bridge for MT4. Doing so I found it very interesting to check out the websites of typical Software developer for the brokerage business. It gives some good ideas how they are working and what they can do with your trading/orders. For example I found that diagram ...

Maybe it is a good idea to build up a little "taskforce", that gets in contact with some software vendors under the label to build up a brokerage of out own. Could be very informative, I'm...
Mamood,

That Boston Technologies site is interesting indeed. With their prime brokerage it seems like a very turnkey operation; so this is how there seems to be a new forex bucketshop every day. They say they average .69 pip spread on eur/usd, so all these shops quoting 2-3 pip spreads stand to make a pretty good margin if their other costs are low.

I'd be your first customer if you do go the SYOB route, after Oanda's most recent "network difficulties" for about an hour after the unemployment figs release this NY morning.
  • #19,677
  • Oct 14, 2010 8:51pm Oct 14, 2010 8:51pm
looking for direction e/u 4025 area, trying to figure out what shes trying to tell us.
  • #19,678
  • Oct 15, 2010 2:03am Oct 15, 2010 2:03am
Good Mornign Friernds of the Dance!

Some hints about recent Asian sentiment:

Regional markets mostly lower;
Nikkei down 0.9%,
S&P/ASX off 0.2%,
Shanghai Composite +2.1%,
HSI down 0.4%,
STI +0.5%,
KLCI down 0.5%,
NZX-50 off 0.2%,
Kospi +0.1%,
Taiex 0.1% lower,
SET +0.3%,
Sensex down 0.7%.

In FX markets, EUR weaker vs USD, JPY as losses in regional stock markets prompt short-term investors to sell, lock in profits on its recent rises;

And don't forget Heli Ben is on the wires at 13:15 GMT in conjunction with the US BugFigs at 13:30 GMT it could get a little hectic then ...

Wish you a successful end this trading week.

CU,
MaMood
  • #19,679
  • Oct 15, 2010 2:15am Oct 15, 2010 2:15am
Just for info:


* 15 Oct 10: 06:17 GMT (SGA) - FX NOW! USD/JPY, EUR/USD Flows - USD/JPY falls after MoF Noda warning without intervention

Markets getting a tad tired and not convinced or impressed by further verbal intervention, without actual FX intervention. USD/JPY dips toward day lows of 81.19-20, from 81.40-45, ignoring another dose of MoF Noda warning. Recap: MoF Yoshihiko Noda declines comment on FX levels, will continue to take decisive steps on FX if needed. On FX, guess market is wondering when the "if needed" will occur - under what circumstances that will justify intervention. USD/JPY eye break of 81.00 again, and 15-year lows of 80.88, disappointed by lack of intervention, yet again. Offers at 81.60-80/ 82.00. EUR/USD edging back up to 1.4069-70 in early Europe, offers 1.4100.WL

Disclaimer: Be aware of possible Cow Dung included ;-)
  • #19,680
  • Oct 15, 2010 2:22am Oct 15, 2010 2:22am
Just for info:

[...]On FX, should Fed Bernanke sound dovish (though some rumours he will be less dovish), could see fresh waves of USD selloff again. [...]

Rumors, rumors, rumors.
Nothing sreious.

So it should be the superior Modus Operandi to trade what we see on the charts, than to trade what someelse is expecting ...

Stay nimble!

Cu,
MaMood
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