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My trades by Dave

  • #981
  • Apr 11, 2006 8:18pm Apr 11, 2006 8:18pm
Quoting hugobossv8
Has anyone heard of this broker? http://www.fxtrader.net ...it looks like they are in South Africa, but they have low pip spread and high leverage at 500:1. I'm going to try to find out more...
They sound good.

I have e-mailed them asking
information on there antiscalping pollicy. I asked them if 5-20 pips is ok...mostly 5-10.
And I asked what if I move s/l to just above break even. Then the trade turns and hits my s/l with 2-3 pips profit. Would that be missjudged as scalping?

I have a feeling that 5-10 pips won't be ok.

Lets see what they have to say.

Dave
  • #982
  • Apr 11, 2006 10:30pm Apr 11, 2006 10:30pm
Quoting xxDavidxSxx
They sound good.

I have e-mailed them asking
information on there antiscalping pollicy. I asked them if 5-20 pips is ok...mostly 5-10.
And I asked what if I move s/l to just above break even. Then the trade turns and hits my s/l with 2-3 pips profit. Would that be missjudged as scalping?

I have a feeling that 5-10 pips won't be ok.

Lets see what they have to say.

Dave
be careful if im not mistaken i read on elite trader forum they are fraud. might wanna do some research on em
  • #983
  • Apr 12, 2006 5:43am Apr 12, 2006 5:43am
Thanks for the warning. Did you join us from E.T?
Welcome to our forum.


Dave
  • #984
  • Apr 12, 2006 5:54am Apr 12, 2006 5:54am
Quoting xxDavidxSxx
Price didn't fall to the pivot of 38.2 fibo. Retesting days High.


short 1.2151 s/l 1.2170

Target: 1.2138


Price should fall near the pivot.

Dave

Pulled trade 1.2141......+10 pips


Little bit of wipsaw while the market figures out what its doing. Getting out now looks good.

Market should be thin after today. Due to easter hollidays.

Dave
  • #985
  • Apr 12, 2006 11:43am Apr 12, 2006 11:43am
Quoting xxDavidxSxx
Thanks for the warning. Did you join us from E.T?
Welcome to our forum.


Dave
lol no i just read over there im only a beginner with somethin that works for me and every now and then i post and i post pretty often on OA's forum thats where i trade too

thanks for welcoming me i use to see ur posts on daily fx and read em with interest
  • #986
  • Apr 12, 2006 9:28pm Apr 12, 2006 9:28pm
New daily pivot 1.2112



short 1.2102

s/l 1.2120

Target 1.2055
  • #987
  • Apr 12, 2006 9:42pm Apr 12, 2006 9:42pm
Quoting xxDavidxSxx
New daily pivot 1.2112



short 1.2102

s/l 1.2120

Target 1.2055
Here is entry on 4 hr chart. This is a 4hr time period trade.


The ma's and TSI are crossing down. and price is meeting top trend line.


**Raise s/l to 1.2130 because top trend line is 1.2121.**


Target is just above the outer, bottom boli band.

Dave
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  • #988
  • Apr 12, 2006 10:04pm Apr 12, 2006 10:04pm
Dave,


Thanks for your thoughts. I am short also but only to just above the first support level 1.2075. I don't like that is is so slow moving though.

KCfish
  • #989
  • Apr 12, 2006 10:47pm Apr 12, 2006 10:47pm
yea I know.

On a signal from a 4 hr time frame you have to wait for the other time frames to line up and work themselves out. But when the move happens it should be swift.
Or bounce to 1.2120 then sudden fall and break.


Dave
  • #990
  • Apr 12, 2006 10:56pm Apr 12, 2006 10:56pm
That wipsaw today probly wiped out alot of s/l. Got people scared now. But the longer the consilidation the bigger the move.
Sustained break above 1.2121 is bullish.

Dave
  • #991
  • Apr 12, 2006 11:35pm Apr 12, 2006 11:35pm
interbank groupe is currently froze on price movement.
Both demo and real. It might move every 10 min.
And the spread on the real is 5 pips and 3 on demo. I asked about that too. Widening of the spread is a deal breaker. I just want that Streight through processing.


I e-mailed Mr senior trader

Glad I havent depostied funds yet. He still says he hasn't got the STP approved with the president yet.

Dave
  • #992
  • Apr 13, 2006 12:33am Apr 13, 2006 12:33am
Dave,

Are you still short on the trade, or are you thinking of stopping out?
  • #993
  • Edited 3:37pm Apr 13, 2006 9:09am | Edited 3:37pm
Quoting xxDavidxSxx
Price nearing 38.2 fibo

I moved s/l to 1.2175 just the other side of fibo.

Dave
Dave, when and what was the reason that you changed your stop loss to 70 pips above your trade? I kept my stop loss at 1.2130 and got stopped out. (-30 pips for me) I'm just wondering how do you know to change your stop loss? And, at what point do you stop changing your stop loss?

For example, if the trade had kept going up and reached 1.2170, would you change your stop loss again to 1.2200 (a 100 pip stop loss)?
  • #994
  • Apr 13, 2006 7:42pm Apr 13, 2006 7:42pm
Quoting hugobossv8
Dave, when and what was the reason that you changed your stop loss to 70 pips above your trade? I kept my stop loss at 1.2130 and got stopped out. (-30 pips for me) I'm just wondering how do you know to change your stop loss? And, at what point do you stop changing your stop loss?

For example, if the trade had kept going up and reached 1.2170, would you change your stop loss again to 1.2200 (a 100 pip stop loss)?
I just got out at 1.2107



When price neared the 38.2 fibo I wanted to get it out of reach so I moved it above the top 1hr boli. I wouldn't have on a real with 400:1 but I would with 100:1. Depends on risk.

I am starting to think we're not gonna see a drop. Daily trend line supporting.

Dave
  • #995
  • Apr 13, 2006 8:10pm Apr 13, 2006 8:10pm
Long as close to the bottom of the range as I can.

Indacaters are looking like there lining up for a drop and bounce again.

Dave
  • #996
  • Apr 15, 2006 10:25pm Apr 15, 2006 10:25pm
I have narrowed my serch for brokers down to 3.

interbank group(still pending STP approval, and letter from WWC pres.)400:1
FXDD(has STP but 200:1 leverage)
MG Financial(400:1 but no STP, and does have a really good reputation)


IBG has been slow in setting up my account. Because of the STP. I think they put there foot in there mouth and now have to give it to me.
My account is set up but not stp yet. The account is with WWC(world wide clearing) WWC only offers the public 50:1 leverage. So if I can get a STP account approved by the president with a letter, and 400:1 leverage, with a firm like WWC then whoo hoo!
If not I will settle for 200:1 on a mini with FXDD. And just use 50 lots for my desired return. And then open a second account with them and trade both the same in order to get the returns I would with 400:1.

I have asked MG if they have a problem with me scalping 500-1k a day. Lets see what they say.5-10 pips per trade.
  • #997
  • Apr 15, 2006 10:34pm Apr 15, 2006 10:34pm
I wonder if I should ask WWC if interbank group is there introducing broker, and if they have the ability to offer me STP and 400:1 leverage.

Hmm..

Dave
  • #998
  • Apr 16, 2006 3:12pm Apr 16, 2006 3:12pm
Hi Dave,

why don't you give InterbankFx a try with a $500 mini, but use their Version 3 software. Everybody that's complaining about them at the moment is using ver4. The only thing I don't like with them is that their spreads widen during the first 5-10 minutes of major news events, but gets back to normal again. If you're not happy, just close the account.

Take Care
Habeeb
Keeping it Simple
  • #999
  • Apr 16, 2006 3:15pm Apr 16, 2006 3:15pm
oh yes... could you please post a 1-2-3-4-5 daily chart of fiber.

Thanx

Take Care
Habeeb
Keeping it Simple
  • #1,000
  • Apr 16, 2006 3:43pm Apr 16, 2006 3:43pm
Habeeb,

I would use FXDD befor interbankfx. They have s.t.p, a very good rep., and the spreads don't widen.
But there not a bad broker.


Here is analisys on the cable.

I had to do it on the weekly because the daily is a long sideways action.

Weekly rsi(21) has broken above the top wedge line. Pending a test of the 50 line. If the RSI breaks and closes above the 50 then bias is Bullish.

The rally up should form a weekly wave "C". And would line up with the weekly projection I am doing for the fiber.

Charting is by GFX(one of the best swiss brokers I have found.) And with the most sensitive price feed. There charting price feed is as good as the 100$ mo. intelli charts I used. But GFX demo only last 20 days.

Dave

Edit: Long near bottom of the daily lows range. And target first the top of wave "a"(1.7900). And the top bolli 1.7800.
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