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Trading Made Simple

  • #14,221
  • Edited 3:08am Dec 22, 2011 2:39am | Edited 3:08am
Quoting smatthew
If I go below lotsize 0.25 then yes, the spread is too big.
For 0.25 and above the spread isn't bad (see screenshot).

IB routes small trades to their IDEAL network. Even though the name suggests otherwise, the spreads are horrendous: more than 10 pips on alot of pairs.
Larger trades are routed to their IDEALPRO network providing smaller spreads.
Hi, smatthew.
I anderstood. Your broker is Interactive Brokers, ain't you? Spread for AUD/NZD is 2 pips. Not bad.
Greed and fear kills traders
  • #14,222
  • Dec 22, 2011 2:40am Dec 22, 2011 2:40am
can Setup to Sell next time ! ?
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  • #14,223
  • Dec 22, 2011 5:01am Dec 22, 2011 5:01am
Quoting Kanderpro
Hello kingclarence,

Thanks for showing your successful strategy on trading the Daily charts with TMS. I'm interested in developing my knowledge of this so a thread devoted to it would be useful.

To all UK readers: due to the size of the stops required in trading the Daily charts, I'm going to start very small. I recently saw an ad for a broker offering trading at 10 pence per pip but at the time I dismissed it as something I did not need. However, I do now. Does anyone know a broker who offrers trading as low as 10 pence per pip?

Thanks,
Kan...
Kanderpro

I am demo trading and altho I'm not certain of the minimum I believe the broker GKFX, which until recently was called Smart Live Markets, does allow 10p pips
  • #14,224
  • Dec 22, 2011 5:57am Dec 22, 2011 5:57am
Quoting singcang
can Setup to Sell next time ! ?
No, no. Wait for when green crossed red on the TDI!
Greed and fear kills traders
  • #14,225
  • Dec 22, 2011 6:17am Dec 22, 2011 6:17am
Quoting digf
Kanderpro

I am demo trading and altho I'm not certain of the minimum I believe the broker GKFX, which until recently was called Smart Live Markets, does allow 10p pips
Thanks digf,
I've been in touch with them and will open an account soon. I'll buy you a pint when we're both millionaires.
Kan
Thanks for your help, warmth and straight talking Heather.
  • #14,226
  • Dec 22, 2011 6:59am Dec 22, 2011 6:59am
Quoting Kanderpro
Hello kingclarence,

Thanks for showing your successful strategy on trading the Daily charts with TMS. I'm interested in developing my knowledge of this so a thread devoted to it would be useful.

To all UK readers: due to the size of the stops required in trading the Daily charts, I'm going to start very small. I recently saw an ad for a broker offering trading at 10 pence per pip but at the time I dismissed it as something I did not need. However, I do now. Does anyone know a broker who offrers trading as low as 10 pence per pip?

Thanks,
Kan...

I have a spreadbetting account with IG index, lowest they can do is 50p per point/pip with a minimum 15pip stop.

But you do get free access to autochartist

Gez.
Seek not to change the world; seek only to change your mind about the world
  • #14,227
  • Dec 22, 2011 7:12am Dec 22, 2011 7:12am
Quoting Kanderpro
Thanks digf,
I've been in touch with them and will open an account soon. I'll buy you a pint when we're both millionaires.
Kan
I think I'll be a bit thirsty before I get if I've got to wait till then.
  • #14,228
  • Dec 22, 2011 8:03am Dec 22, 2011 8:03am
Quoting gez40
I have a spreadbetting account with IG index, lowest they can do is 50p per point/pip with a minimum 15pip stop.

But you do get free access to autochartist

Gez.
Thanks Gez
Thanks for your help, warmth and straight talking Heather.
  • #14,229
  • Dec 22, 2011 8:30am Dec 22, 2011 8:30am
Quoting Kanderpro
Thanks Gez
Hi guy's I am in UK.. Try Oanda Europe..

They have MT4 charting now and if you place trades using their Fxtrade platform you can go as low as 1p a point .. Min account opening balance £1

Cheers
  • #14,230
  • Dec 22, 2011 8:48am Dec 22, 2011 8:48am
Quoting popeyeuk
.. Min account opening balance £1
Really? I think to change the broker. Maybe to try Oanda?
Greed and fear kills traders
  • #14,231
  • Dec 22, 2011 9:13am Dec 22, 2011 9:13am
OANDA is a low pip broker but it has a leverage of just 1:50
  • #14,232
  • Dec 22, 2011 10:52am Dec 22, 2011 10:52am
Quoting ahmed1
OANDA is a low pip broker but it has a leverage of just 1:50
Yes true.. Which is ok for me but may not suit everyone.. Best thing is to try the Fxtrade demo... (not the MT4 demo).. Then once the account is open give it a try and see what you think..

Once you have an account open you can create sub accounts and if you wish, connect MT4 to them..
  • #14,233
  • Dec 22, 2011 11:31am Dec 22, 2011 11:31am
50:1 should be more than enough
How to opt out annoying user signatures ??
  • #14,234
  • Dec 22, 2011 11:43am Dec 22, 2011 11:43am
Quoting ahmed1
OANDA is a low pip broker but it has a leverage of just 1:50

If anyone one is trading (live or demo) the TMS method with 1:50 leverage or more, could you please share your money management with me?

One standard lot is $100,000, $10 per pip. At 1:50 leverage that is a $2,000 margin per lot. With a stop above/under the swing high/low to the left of a signal bar, on a one hour chart, that could be a 25/50 pip stop loss ($250-$500) on $2,000 margin. That does not work with any money management I have ever heard of.

Even dropping down to a 5 minuet chart the stop (at 1:50) would be way over the standard 2%, plus all the extra trading cost of spread and slippage that comes with scalping.

I know enough about trading to know I still have much to learn. Where can I find info on how traders are using 1:50 (or higher) successfully?
  • #14,235
  • Dec 22, 2011 12:34pm Dec 22, 2011 12:34pm
Quoting Percival
If anyone one is trading (live or demo) the TMS method with 1:50 leverage or more, could you please share your money management with me?

One standard lot is $100,000, $10 per pip. At 1:50 leverage that is a $2,000 margin per lot. With a stop above/under the swing high/low to the left of a signal bar, on a one hour chart, that could be a 25/50 pip stop loss ($250-$500) on $2,000 margin. That does not work with any money management I have ever heard of.

Even dropping down to a 5 minuet chart the stop (at 1:50) would be way over the standard 2%,...
Yes but the original question was which broker would allow trading 10p per pip. With Oanda you can trade any ammount of units e.g. 1, 1000, 10,000 0r 100,000 etc etc.. So you can start with a very small ammount..
  • #14,236
  • Dec 22, 2011 3:28pm Dec 22, 2011 3:28pm
I use fxcm and they allow 1k lots which equals about ten cent a pip.I currently have a small account and cant afford full lots so it works good for me that you can trade small lots as opposed to full ones
  • #14,237
  • Edited 3:56pm Dec 22, 2011 3:38pm | Edited 3:56pm
Quoting kingclarence
I was thinking that since everyone left this thread for x mans maybe us guys that trade the Tms using the daily charts should start our own thread so we can exchange info and what not.Who is down with this?
The majority here focuses on H4, H1 or even lower.
The lower the TF, the more screentime seems to be required.

I've tried applying TMS to the lower TF's but wasn't very successful.
I just don't think I've a feel for it.

On D1 TF on the other hand I've managed to actually make some demo pips a couple of times in a row this month.
My first success in 4X trading ever!

Perhaps it's just that you don't have to judge a trade opportunity in a split second with D1. There's more time to do the proverbial cherry picking.

However, I need more confirmation that these weren't just lucky shots, so I'm going to practise some more. I kind of need to anyway, since I have to save up more margin before I can go live.

A new thread focused on applying TMS to D1 would be a great idea I think.
As long as it'll stay true to the basics Eelfranz has laid out. It's like franchising TMS

@ForextraderGBP: That's correct. My broker is Interactive Brokers. Actually I'm with a reseller of their's called Todaysbrokers (.nl).
Financial independence is what I live for
  • #14,238
  • Dec 22, 2011 3:45pm Dec 22, 2011 3:45pm
Quoting kingclarence
I was thinking that since everyone left this thread for x mans maybe us guys that trade the Tms using the daily charts should start our own thread so we can exchange info and what not.Who is down with this?
Would a 12 hours chart qualify as a DAILY chart?

If so, sell, EUR-USD .... and it is with the TREND - bonus points!

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It takes a lot for me to IGNORE you, but you can try.
  • #14,239
  • Dec 22, 2011 4:18pm Dec 22, 2011 4:18pm
Quoting Erebus
Would a 12 hours chart qualify as a DAILY chart?

If so, sell, EUR-USD .... and it is with the TREND - bonus points!

EU does not look all that great though..
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Financial independence is what I live for
  • #14,240
  • Dec 22, 2011 5:05pm Dec 22, 2011 5:05pm
Just a picture showing my previous attempts at lower TF trading, as well as my current D1 trading.
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Financial independence is what I live for
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