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EURUSD

  • #358,321
  • Edited 8:35pm Jan 4, 2011 8:30pm | Edited 8:35pm
Quoting Trendstar
On the back burner, I have this as a possibility on the daily euro. far fetched but possible. after a crack at that kind of upside I'd be dusting off the short button..
This is an updated chart from that earlier post and based on the pattern holding, I'm gonna move this up to the front burner. The cup and saucer Magix mentioned is in there as well and forming nicely now above the 150ma which wasn't the case on the cup and saucer Mr. Hatch mentioned that formed back in Mch '10.

sorry abt the wrong pc in previous post..
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  • #358,322
  • Jan 4, 2011 8:31pm Jan 4, 2011 8:31pm
In short at 1.3280.

All trends look downward. TP 1.3260 PPS1 and Fib 0. There is some rhyme to me reason.
Don't Panic. Stay With You're Group.
  • #358,323
  • Jan 4, 2011 8:35pm Jan 4, 2011 8:35pm
hey guys, on a random note, can anyone recommend a good broker for a micro account that can trade 0.1 microlots (100 units of base currency)?

thanks.
  • #358,324
  • Jan 4, 2011 8:39pm Jan 4, 2011 8:39pm
Quoting hoeman
hey guys, on a random note, can anyone recommend a good broker for a micro account that can trade 0.1 microlots (100 units of base currency)?

thanks.
Why do you want to trade so low? A micro EUR/USD at 50:1 is only $26 in margin.

I'm not criticizing, just curious.
Don't Panic. Stay With You're Group.
  • #358,325
  • Jan 4, 2011 8:43pm Jan 4, 2011 8:43pm
H4 : Retracement 50 %
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  • #358,326
  • Jan 4, 2011 8:44pm Jan 4, 2011 8:44pm
Quoting hoeman
hey guys, on a random note, can anyone recommend a good broker for a micro account that can trade 0.1 microlots (100 units of base currency)?

thanks.
HOEMAN: OANDA - Please take note however, during fundamental announcements, FIVE SECONDS before the new comes out, their spreads widen between 10 to 25 pips depending on the currency pair and the type of news that is released.

If you keep that in mind and trade outside of news releases the spreads are between 0.9 and 3.6
  • #358,327
  • Jan 4, 2011 8:45pm Jan 4, 2011 8:45pm
Quoting hoeman
hey guys, on a random note, can anyone recommend a good broker for a micro account that can trade 0.1 microlots (100 units of base currency)?

thanks.

Oanda allows you to trade units (even 1 unit if you choose).

MindfulOne, some would rather trade live using small units than trading demo. I'm not sure if that's the case with hoeman, but it could be. If not, there's nothing wrong with starting ... if you can earn 10% or 20% a year on $50k then you should be able to do the same or better on $500 if you adjust your units accordingly.
  • #358,328
  • Jan 4, 2011 8:49pm Jan 4, 2011 8:49pm
Quoting GulfCoastPip
Oanda allows you to trade units (even 1 unit if you choose).

MindfulOne, some would rather trade live using small units than trading demo. I'm not sure if that's the case with hoeman, but it could be. If not, there's nothing wrong with starting ... if you can earn 10% or 20% a year on $50k then you should be able to do the same or better on $500 if you adjust your units accordingly.
GulfCoastPip got it. Yup, just start with a really small amount. Then psychologically, it is more 'real'. Demo might mess one up if you can't treat it as real.

Regarding Oanda, ok, sounds good, but they don't use MT4 right? How does their platform stack up? Isn't MT4 the most popular for forex?
  • #358,329
  • Jan 4, 2011 8:52pm Jan 4, 2011 8:52pm
2 games : 20 pips
3 : i'm long at 1.3275
  • #358,330
  • Jan 4, 2011 8:54pm Jan 4, 2011 8:54pm
Quoting hoeman
GulfCoastPip got it. Yup, just start with a really small amount. Then psychologically, it is more 'real'. Demo might mess one up if you can't treat it as real.

Regarding Oanda, ok, sounds good, but they don't use MT4 right? How does their platform stack up? Isn't MT4 the most popular for forex?
Correct, Oanda doesn't offer MT4, but you can use MT4 for your charting and place your trades with their web based java platform. I'm not real fond of the java platform, but it works.

Besides the spreads widening during news (like someone mentioned above), they do have the occasional disconnect issue which sucks, just keep your account number and support number handy (you should anyway no matter what b0rker).
  • #358,331
  • Jan 4, 2011 8:55pm Jan 4, 2011 8:55pm
Quoting buonvangvn
2 games : 20 pips
3 : i'm long at 1.3275
You'r not long or short, jut breathing in and out.
The Thief of Wall Street
  • #358,332
  • Jan 4, 2011 8:58pm Jan 4, 2011 8:58pm
Quoting Chicky
You'r not long or short, jut breathing in and out.
My goal today is 200 pips ( 10%/ 2 games )
  • #358,333
  • Jan 4, 2011 9:02pm Jan 4, 2011 9:02pm
Quoting GulfCoastPip
MindfulOne, some would rather trade live using small units than trading demo. I'm not sure if that's the case with hoeman, but it could be. If not, there's nothing wrong with starting ... if you can earn 10% or 20% a year on $50k then you should be able to do the same or better on $500 if you adjust your units accordingly.
I understand and completely agree. I'd rather trade pennies on a real feed than dollars on a demo. IMO demos are 99% used to lure people into a false sense of confidence by the bucket shops.

I was just curious about it. Never heard anyone ask.


I'll add that I've considered a small account with Oanda just for their iPhone app. It's basic but very functional.
Don't Panic. Stay With You're Group.
  • #358,334
  • Jan 4, 2011 9:03pm Jan 4, 2011 9:03pm
Quoting MindfulOne
I understand and completely agree. I'd rather trade pennies on a real feed than dollars on a demo. IMO demos are 99% used to lure people into a false sense of confidence by the bucket shops.

I was just curious about it. Never heard anyone ask.
Closed your short?
  • #358,335
  • Jan 4, 2011 9:04pm Jan 4, 2011 9:04pm
Quoting buonvangvn
My goal today is 200 pips ( 10%/ 2 games )
No, I didn't get you.

Do you mean risking 5% a trade of 10 pips each? I go 2.5% max on any trade but very very rarely and that is also subject to BAC level.


Key: BAC = Blood Acohol Content
The Thief of Wall Street
  • #358,336
  • Jan 4, 2011 9:05pm Jan 4, 2011 9:05pm
Quoting buonvangvn
2 games : 20 pips
3 : i'm long at 1.3275
3 : out 10 pips (total 30 pips )
  • #358,337
  • Jan 4, 2011 9:06pm Jan 4, 2011 9:06pm
Quoting hoeman
hey guys, on a random note, can anyone recommend a good broker for a micro account that can trade 0.1 microlots (100 units of base currency)?

thanks.
HOEMAN: Hope this helps with your decision making process http://fxtrade.oanda.com/why/
  • #358,338
  • Jan 4, 2011 9:06pm Jan 4, 2011 9:06pm
@ mindfulone
@ hoeman if you'd like to get a feel for the oanda platform, you can checkout fxgame.oanda.com it's their demo platform.

Alright guys and gals have a good evening and many green pips! I try and stay away from the borq when trading.
  • #358,339
  • Jan 4, 2011 9:07pm Jan 4, 2011 9:07pm
Quoting hoeman
Closed your short?
No, not yet. SL at 1.33008. This time of day things just crawl along. I'll give it a little more time.
Don't Panic. Stay With You're Group.
  • #358,340
  • Jan 4, 2011 9:10pm Jan 4, 2011 9:10pm
Quoting MindfulOne
No, not yet. SL at 1.33008. This time of day things just crawl along. I'll give it a little more time.
It is really crawling man. I just wanna get out of my position now for a scratch and go for a haircut. Wait for london open.

What about FXOpen btw? Do they suck?
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