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  • #338,781
  • Dec 3, 2010 9:23am Dec 3, 2010 9:23am
Quoting cloggie

Right now we have a rising support forming on the lower TF's at 3320-3328

Perfect test
  • #338,782
  • Dec 3, 2010 9:25am Dec 3, 2010 9:25am
FXCM had the spreads to 27 pips during NFP release.
I could not scalp. I was 27+ pips in profit by looking at the price, but the actual profit in $ was showing at $1.00

I looked at the spreads, and 27 PIPS for EUR/USD, EUR/CHF

This is so bad.
  • #338,783
  • Dec 3, 2010 9:26am Dec 3, 2010 9:26am
Quoting PanamaBanana
Thanks man. This is inspiring for new people like myself. Looking forward to follow some of the tips, to write it down, read it every day - stick to the plan.

PB
Anytime my friend, I believe in paying it foreward helping others and trying to cut out all the other bs some people post. I believe it is rewarding. So when you find something that others can use pass it along. I wish you blessings in your endeavors. There is no luck involved in trading, it is coming down to your plan. The market will do what it wants to do but you get a hint of what big money is doing .

Have a great weekend
Know when to hold em, Know when to fold em!
  • #338,784
  • Dec 3, 2010 9:27am Dec 3, 2010 9:27am
Quoting torontobboy2
FXCM had the spreads to 27 pips during NFP release.
I could not scalp. I was 27+ pips in profit by looking at the price, but the actual profit in $ was showing at $1.00

I looked at the spreads, and 27 PIPS for EUR/USD, EUR/CHF

This is so bad.

Get used to it, it's NFP.
  • #338,785
  • Dec 3, 2010 9:28am Dec 3, 2010 9:28am
Quoting torontobboy2
FXCM had the spreads to 27 pips during NFP release.
I could not scalp. I was 27+ pips in profit by looking at the price, but the actual profit in $ was showing at $1.00

I looked at the spreads, and 27 PIPS for EUR/USD, EUR/CHF

This is so bad.

You are using an ECN that is why. I use FXDD fixed spreads.
Know when to hold em, Know when to fold em!
  • #338,786
  • Dec 3, 2010 9:29am Dec 3, 2010 9:29am
Quoting goods
You are using an ECN that is why. I use FXDD fixed spreads.

You will pay for it in another way, there is no way a broker can offer fixed spreads. I would shy away from any broker offering fixed spreads and guaranteed fills.
  • #338,787
  • Dec 3, 2010 9:29am Dec 3, 2010 9:29am
Quoting egkid

http://www.youtube.com/watch?v=jllJ-HeErjU
lol
  • #338,788
  • Dec 3, 2010 9:30am Dec 3, 2010 9:30am
Quoting cloggie
I have spend lots of time studying ranges and tops/bottoms, there is no short answer, you need to dedicate serious time to reading the price. I am usually pretty spot on calling tops and ranges early, I do get it wrong at times, yesterday was case in point when Weber opened his gob and the fundies overruled the techs. Technically it is not that hard to call the tests and fakes, just study previous ranges and see how price forms in patterns and interacts with levels.

I gave a play by play earlier in the morning calling the top when plenty here...

Thank You, Cloggie for always giving great information.
  • #338,789
  • Dec 3, 2010 9:30am Dec 3, 2010 9:30am
Quoting Pipwanderer
40 pips>? for all that stress. i make 40 pips on a daily basis what is so special? please break it down???
We are discussing specially for this post NFP trading. It's great you manage 40 pips daily, but for the benefit of new traders here I advise to take 40 pips in less than 2 hours. Any experience traders know that it can go more than 60 pips in fact. But not all traders here know money management well and handling of risks. Thus, my statement is rather conservative.
FYI, I only trade for 30 pips a day. That is my quota.
Cheers!
  • #338,790
  • Dec 3, 2010 9:30am Dec 3, 2010 9:30am
Quoting torontobboy2
FXCM had the spreads to 27 pips during NFP release.
I could not scalp. I was 27+ pips in profit by looking at the price, but the actual profit in $ was showing at $1.00

I looked at the spreads, and 27 PIPS for EUR/USD, EUR/CHF

This is so bad.
I'm live with ATCbrokers/MT4, they use FXCM liquidity/feed (but their Active Trader platform). Spread widened to 8 pips after release; after about 20 seconds it went to usual <1 pip.
:-anything
  • #338,791
  • Dec 3, 2010 9:31am Dec 3, 2010 9:31am
Quoting cloggie
You will pay for it in another way, there is no way a broker can offer fixed spreads. I would shy away from any broker offering fixed spreads and guaranteed fills.

True but if you know how to clear whatever it is you pay, then you win in the long run.
Know when to hold em, Know when to fold em!
  • #338,792
  • Dec 3, 2010 9:31am Dec 3, 2010 9:31am
Quoting cloggie
You will pay for it in another way, there is no way a broker can offer fixed spreads. I would shy away from any broker offering fixed spreads and guaranteed fills.
Having worked at a forex broker before I second this... Some are worst than others of course but you pay your "fee" one way or another.

PB
  • #338,793
  • Dec 3, 2010 9:34am Dec 3, 2010 9:34am
Quoting torontobboy2
FXCM had the spreads to 27 pips during NFP release.
I could not scalp. I was 27+ pips in profit by looking at the price, but the actual profit in $ was showing at $1.00

I looked at the spreads, and 27 PIPS for EUR/USD, EUR/CHF

This is so bad.
dont trade during the news then
  • #338,794
  • Dec 3, 2010 9:34am Dec 3, 2010 9:34am
Quoting cloggie

Right now we have a rising support forming on the lower TF's at 3320-3328

Who would have guessed.
  • #338,795
  • Dec 3, 2010 9:35am Dec 3, 2010 9:35am
Quoting paul1
I have read about this second day of week strategy .I cant remember were though.
Could you point me in the direction so I may read it again.
I would like to know why and how it works.
Hi Paul,
This post NFP trading is mostly traded by the japanese traders. You may even assume BOJ. We are just riding on it. I do not have any exact manual to it. I was a floor trader and remisier before, it is based on experience literally. You can review past charts to confirm these findings.
Cheers!
  • #338,796
  • Dec 3, 2010 9:37am Dec 3, 2010 9:37am
pa now I see , hope it helps still bull
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 6 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #338,797
  • Dec 3, 2010 9:38am Dec 3, 2010 9:38am
look at 4hr chart - up movement still valid for another 24 - 36 hours.
  • #338,798
  • Dec 3, 2010 9:38am Dec 3, 2010 9:38am
Hi Folks,

Looks like I missed all the action since the Boss took me down to the pub to watch the cricket highlights.

Price is now at a MML level I posted this morning. Fun times!
A pip is only worth it if you know how much you risked to earn it
  • #338,799
  • Dec 3, 2010 9:39am Dec 3, 2010 9:39am
Quoting Fazpips
Hi Paul,
This post NFP trading is mostly traded by the japanese traders. You may even assume BOJ. We are just riding on it. I do not have any exact manual to it. I was a floor trader and remisier before, it is based on experience literally. You can review past charts to confirm these findings.
Cheers!
ok thankyou for the info my friend.
making green pips large and red pips small this is my goal.
  • #338,800
  • Dec 3, 2010 9:39am Dec 3, 2010 9:39am
@Cloggie, Thanks. That's a very informative reply. I do like your method a lot, as enter right at the confirmation/reject right near the S/R level really give high R/R.

Clearly I can't see as sharp about the acceptance/ rejection of a level, but the nature of trading at near s/r level give really high r/r, together with proper MM still really benefit me. You inspire me. Some direction for me to improve toward.

Not sure how to define the range earlier yet. But to make it simple i just use range of fixed 30pips and at round number x.xx00
Good day, I'm okay. Bad day, I'm okay. What's the difference?
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