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  • #1,961
  • May 5, 2011 2:53pm May 5, 2011 2:53pm
Quoting ycomp
nothing fishy... market just more volatile... wait until eurusd moves only 50-60 pips on average daily and I'm sure they might go down even to 0.8

They can't have the spread so tight that they will not make any profits...
The spread on EURUSD has already been at 0.8 for nearly two days and there is high volatility.
  • #1,962
  • May 5, 2011 3:11pm May 5, 2011 3:11pm
Quoting moneymike
also these "traders that open a Trade and place a 30 pip stop loss are a joke. The Forex market is growing more and more popular. Billions of dollars move hourly and you think a 30 pip stop loss will hold. why not wait for the price to move to a know support or resistance and place your Stop loss behind it, how Hard is that?
Yes, I agree...

or: why not trade with low leverage and then with practically NO Stoploss at all.

But I guess I need other people (lemmings) to place stoplosses so that the market has those nice positions taken out.
this pig cannot be slaughtered for ever... or can it?
  • #1,963
  • May 5, 2011 3:21pm May 5, 2011 3:21pm
No no matter how low of a leverage there is i still wont trade without a stoploss.
Moneymanagement and a bad system can still give you a profit but no money Management and good system will always fail.
Best Regards Moneymike
  • #1,964
  • May 5, 2011 3:26pm May 5, 2011 3:26pm
Quoting moneymike
also these "traders that open a Trade and place a 30 pip stop loss are a joke. The Forex market is growing more and more popular. Billions of dollars move hourly and you think a 30 pip stop loss will hold. why not wait for the price to move to a know support or resistance and place your Stop loss behind it, how Hard is that?
Yeah, after its been tested once or twice. LOL. Unless your setting oversized stops, "hiding stops behind S/R" is like painting a target on your back.
  • #1,965
  • May 5, 2011 3:28pm May 5, 2011 3:28pm
Quoting Low
Yeah, after its been tested once or twice. LOL. Unless your setting oversized stops, "hiding stops behind S/R" is like painting a target on your back.
But placing a 30 pip stop loss is Gambling. There's no reason to say the price won't spike or retrace back and knock you out.
Best Regards Moneymike
  • #1,966
  • May 5, 2011 5:17pm May 5, 2011 5:17pm
Quoting moneymike
But placing a 30 pip stop loss is Gambling. There's no reason to say the price won't spike or retrace back and knock you out.
This is a discussion that's been had more times than you can imagine, the truth is: It depends on your style/strategy.

Sure, for a 4H or daily trade, open TP, with a 30 pip SL will cost you money, but with a 60 pip target, and a 4-12 hour time horizon, you can walk away with money.

I scalp, day-trade, swing, and occasionally position trade, using S/R, S/D, trendlines, harmonics, fibs, and MA's for guidance (not all at once, lol).

So I can make money with a 13 pip stop, just as easily as I can lose money with an 80 pip stop, it just depends on a lot of factors.

The only way that money can't be made consistently is using the wrong strategy for current market conditions, or lack of discipline.
  • #1,967
  • May 6, 2011 7:59am May 6, 2011 7:59am
Exactly. We should be measuring our risk in percentage terms e.g. Risk 1% for potential gain of 2% or more. It's helpful to be mindful of risk to reward ratios.

Beyond that, it's a little like fishing. You take your boat out to where you think the fish will be. Likewise, you take trades only where you think you have a greater chance of being correct. This makes up your edge.

After that you take a risk and put a trade down.

You might win or you might lose. But if you be consistent like this with a bias to hold on when it's going well for you...then you should do ok. But variance is something we all have to be careful of and streaks of losses so that we don't get wiped out.

Beyond that, I don't think there is too much else one can do as far as I'm aware. I'm still learning though and hope to eventually become profitable.

Quoting Low
This is a discussion that's been had more times than you can imagine, the truth is: It depends on your style/strategy.

Sure, for a 4H or daily trade, open TP, with a 30 pip SL will cost you money, but with a 60 pip target, and a 4-12 hour time horizon, you can walk away with money.

I scalp, day-trade, swing, and occasionally position trade, using S/R, S/D, trendlines, harmonics, fibs, and MA's for guidance (not all at once, lol).

So I can make money with a 13 pip stop, just as easily as I can lose money with an 80 pip stop, it just depends...
  • #1,968
  • May 6, 2011 8:22am May 6, 2011 8:22am
Today something really curious happened.

Oandas spread was 0.8 pips right before NFP and stayed like that till really close to the news release.

I wonder if they are using tight spreads as a form of propaganda....!

I have not seeing spreads that low on the last months. My take is that they are trying to sell the illusion of low spreads to get the naive. They can always cheat people on slippage so the once in a while lower spread will pay in the long run. plus attracting a less skilled costumer base is a sure way to make money for a MM.
  • #1,969
  • May 6, 2011 9:00am May 6, 2011 9:00am
Quoting Platypus
Today something really curious happened.

Oandas spread was 0.8 pips right before NFP and stayed like that till really close to the news release.

I wonder if they are using tight spreads as a form of propaganda....!

I have not seeing spreads that low on the last months. My take is that they are trying to sell the illusion of low spreads to get the naive. They can always cheat people on slippage so the once in a while lower spread will pay in the long run. plus attracting a less skilled costumer base is a sure way to make money...
obviously it's because of my post mentioning 0.8 pips .... it was one of my first posts in years, so obviously they paid great attention to it
  • #1,970
  • May 6, 2011 9:22am May 6, 2011 9:22am
Quoting ycomp
obviously it's because of my post mentioning 0.8 pips .... it was one of my first posts in years, so obviously they paid great attention to it
LOL !!

Well....you can't disregard the possibility. Since FF is the number one Forex site in traffic worldwide they will be stupid not to capitalize on their thread here.

People say that there is no such a thing as bad news so when things heat up around here they get some free advertising
  • #1,971
  • May 6, 2011 9:38am May 6, 2011 9:38am
Quoting Platypus
Today something really curious happened.

Oandas spread was 0.8 pips right before NFP and stayed like that till really close to the news release.

I wonder if they are using tight spreads as a form of propaganda....!

I have not seeing spreads that low on the last months. My take is that they are trying to sell the illusion of low spreads to get the naive. They can always cheat people on slippage so the once in a while lower spread will pay in the long run. plus attracting a less skilled costumer base is a sure way to make money...
Dude Enough with it already Look at the chart their spread are low, as low as anybody else at times. It's obvious that your talking rubbish because i watched the NFP release in front of a Oanda Chart and spreads were 3 pips
Attached Image (click to enlarge)
Click to Enlarge Name: Spread.JPG Size: 25 KB
Best Regards Moneymike
  • #1,972
  • May 6, 2011 9:53am May 6, 2011 9:53am
Quoting moneymike
But placing a 30 pip stop loss is Gambling.
To you perhaps.

Your statement is 100% incorrect for experienced high frequency traders.
  • #1,973
  • May 6, 2011 9:59am May 6, 2011 9:59am
Quoting Platypus
Today something really curious happened.

Oandas spread was 0.8 pips right before NFP and stayed like that till really close to the news release.

I wonder if they are using tight spreads as a form of propaganda....!

I have not seeing spreads that low on the last months. My take is that they are trying to sell the illusion of low spreads to get the naive. They can always cheat people on slippage so the once in a while lower spread will pay in the long run. plus attracting a less skilled costumer base is a sure way to make money for a...
Quasimodo is back and still nuts
  • #1,974
  • May 6, 2011 10:04am May 6, 2011 10:04am
Ok i am a long term trader, But i also look for Good entry positions, But can a 30 pip stoploss hold when the charts look like this
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.gif Size: 15 KB
Best Regards Moneymike
  • #1,975
  • May 6, 2011 10:13am May 6, 2011 10:13am
Quoting moneymike
Ok i am a long term trader, But i also look for Good entry positions, But can a 30 pip stoploss hold when the charts look like this
To be honest I have better things to do than try to convince anyone. If your long term trading works for you then that's great. It's a less stressful style.
  • #1,976
  • May 6, 2011 10:20am May 6, 2011 10:20am
Quoting Marv
To be honest I have better things to do than try to convince anyone. If your long term trading works for you then that's great. It's a less stressful style.
True Makes no sense arguing you do you and am gonna do me. Good luck with your trades.
Best Regards Moneymike
  • #1,977
  • May 6, 2011 10:27am May 6, 2011 10:27am
Quoting moneymike
also these "traders that open a Trade and place a 30 pip stop loss are a joke. ........

....... how Hard is that?
.. in his own small world.
  • #1,978
  • May 6, 2011 10:30am May 6, 2011 10:30am
Quoting ChadFX
.. in his own small world.
yes in my own little world and i like it that way.
Best Regards Moneymike
  • #1,979
  • May 6, 2011 10:48am May 6, 2011 10:48am
Quoting moneymike
Good luck with your trades.
You too brother.
  • #1,980
  • May 6, 2011 11:34am May 6, 2011 11:34am
Quoting A_3
Quasimodo is back and still nuts
Hey buddy!! Did you blew up Account 3 yet?
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