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Day Trading for a Living

  • #621
  • Jul 13, 2012 7:03pm Jul 13, 2012 7:03pm
Went back and did some back testing on the DAX just to see if it's just having a nice few days and well...............


22nd May so nearly 2months of checking I'd say 3 - 4 days per week are trendy so 1 - 2 days of chop but even the chop has moments of trend

I was going to say Mondays are tricky due to the gap but no, continuation most mondays of friday with no drama, even big gaps 90mins in the market is tricking my MA's perfectly like I drew them there after the event, so Monday is tradeable

DOW looks very similar, but 1 pip spreads work for me, I can run 1/2 the SL as the DOW as I don't mind 1 pip on the spread so ideal.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #622
  • Edited 6:34am Jul 14, 2012 4:27am | Edited 6:34am
I've had a look on my chart and can only find the mini sized dow according to their site -> http://www.fxpro.co.uk/trading/cfd/mt4/futures, If I do decide to move to indices full time instead of FX (which is looking ever more likely) then I'll look for another broker that has the lot, with lower spreads, any recommendations of any proper indices brokers?

  • #623
  • Jul 14, 2012 6:39am Jul 14, 2012 6:39am
Quoting GDR3k
I've had a look on my chart and can only find the mini sized dow according to their site -> http://www.fxpro.co.uk/trading/cfd/mt4/futures, If I do decide to move to indices full time instead of FX (which is looking ever more likely) then I'll look for another broker that has the lot, with lower spreads, any recommendations of any proper indices brokers?


I will keep all around but my main focus is the dax 1 pip spread makes it so easy to scalp mainly.

Can't remember who I used too long ago, level 2 feed will just confuse you and you will have to pay a commission per lot as well so likely won't work out much if any cheaper, but you can buy at the bid and less at the ask but your order waits in a cue and if price moves up you don't fill.

Google ECN future broker
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #624
  • Jul 14, 2012 6:50am Jul 14, 2012 6:50am
Www.mbtrading.com maybe.

$4.22 in and out plus a small spread per $10 per pop contract so same as 0.422 spread, won't help much for dax but it will save you based on 4 lots $40 pp that's $120 per trade for the Dow.

3 trades per day that will add up real quick.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #625
  • Jul 14, 2012 6:51am Jul 14, 2012 6:51am
Cheers, I pay a commission with fxpro on indices, currenly 15usd per 1 lot on the mini dow
  • #626
  • Jul 14, 2012 7:13am Jul 14, 2012 7:13am
Quoting GDR3k
Cheers, I pay a commission with fxpro on indices, currenly 15usd per 1 lot on the mini dow
In and Out or is that both ways ?? cause thats 1.5pips or 3 if in and out.

So 4pips saved on the dow ( 5.5 if not in and out ) so $160 per trade saved going elsewhere, oucchhhh.

FXCM is flat rate I think, can't check shut at the weekend.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #627
  • Jul 14, 2012 7:18am Jul 14, 2012 7:18am
Quoting Turveyd
In and Out or is that both ways ?? cause thats 1.5pips or 3 if in and out.

So 4pips saved on the dow ( 5.5 if not in and out ) so $160 per trade saved going elsewhere, oucchhhh.

FXCM is flat rate I think, can't check shut at the weekend.
3 pip spread minus the commission on opening the trade, not on closing it, so naturally when I open a trade with the DOW I'm quite a bit in the negative lol
  • #628
  • Jul 14, 2012 7:46am Jul 14, 2012 7:46am
Quoting GDR3k
3 pip spread minus the commission on opening the trade, not on closing it, so naturally when I open a trade with the DOW I'm quite a bit in the negative lol
So call it 3 pips per dow trade saved, $120 or every 10 trades that's your monthly bills saved.

I'll stick to FXCM and the DAX I like only being -$1 at the start, maybe -$2 if I'm feeling brave.

All setup to trade via Ipad / Phone / new Tabletphone combo which lets me get away from the house a bit more.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #629
  • Jul 14, 2012 9:00pm Jul 14, 2012 9:00pm
Hello I've been trading forex binary options for 4 months & am looking to find & share tips, strategies & systems to improve trading performance.
  • #630
  • Jul 15, 2012 12:16am Jul 15, 2012 12:16am
Quoting scott0786
Hello I've been trading forex binary options for 4 months & am looking to find & share tips, strategies & systems to improve trading performance.
you have to do it by urself
No place for mistakes
  • #631
  • Jul 15, 2012 4:13am Jul 15, 2012 4:13am
Hi everyone, just wondering if anyone is thinking about building long positions on the eurusd after seeing that strength in the euro on Friday?
  • #632
  • Jul 15, 2012 6:53am Jul 15, 2012 6:53am
Quoting GDR3k
I've had a look on my chart and can only find the mini sized dow according to their site -> http://www.fxpro.co.uk/trading/cfd/mt4/futures, If I do decide to move to indices full time instead of FX (which is looking ever more likely) then I'll look for another broker that has the lot, with lower spreads, any recommendations of any proper indices brokers?

I've just opened 2 demo accounts. One with GKFX and another with Alpari. Both for the spread trading option using the MT4 platform. 1 point spread on DAX/Ftse and 2 on the DJ.
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
  • #633
  • Jul 15, 2012 8:50am Jul 15, 2012 8:50am
Quoting scott0786
Hello I've been trading forex binary options for 4 months & am looking to find & share tips, strategies & systems to improve trading performance.
Stick around, you'll hopefully learn something from us and we'll hope learn something from you!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #634
  • Jul 15, 2012 8:54am Jul 15, 2012 8:54am
No additional charges via FXCM for DAX not traded Dow but no mention of, not much of a saving for the DOW though 4 pips markets open, 6 closed.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #635
  • Jul 15, 2012 9:36am Jul 15, 2012 9:36am
2 pkt for DJ ? It is a waste of money for scalpers... Check AdmiralMarkets they have 1pkt spread for DJ/FTSE100/DAX30 and 0,4pkt for SP500.
  • #636
  • Jul 15, 2012 4:41pm Jul 15, 2012 4:41pm
Quoting scarlet pipe
I've just opened 2 demo accounts. One with GKFX and another with Alpari. Both for the spread trading option using the MT4 platform. 1 point spread on DAX/Ftse and 2 on the DJ.
Never tried GKFX however I've had very bad experiences with alpari in the past.

Will be on the lookout for a different broker to just trade indices with, one with the lowest spreads/commissions.
  • #637
  • Jul 15, 2012 5:36pm Jul 15, 2012 5:36pm
Lets hope this week is better than last, well for me LOL


No DAX or DOW till the am, but if needs must then Oil and Gold are up and moving, trade very similar performance wise but not quite as good.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #638
  • Jul 15, 2012 5:42pm Jul 15, 2012 5:42pm
Quoting Turveyd
Lets hope this week is better than last, well for me LOL


No DAX or DOW till the am, but if needs must then Oil and Gold are up and moving, trade very similar performance wise but not quite as good.

LoL Turveyd.....are you following my trades...I was up well last week until Friday (13th) then it all went tits up....chasing my loss'es all day but I am now long on oil and Gbp/Usd at least until monday morning.
  • #639
  • Jul 15, 2012 5:47pm Jul 15, 2012 5:47pm
Quoting Mossy68
LoL Turveyd.....are you following my trades...I was up well last week until Friday (13th) then it all went tits up....chasing my loss'es all day but I am now long on oil and Gbp/Usd at least until monday morning.
I will go look for them.

I pulled a 8 SL stop, within seconds was 20pips in the red so bought a 2nd position, and lost 65pips or something in total causing a nasty dip.

There definately with the current trend, ofcourse that is likely to change 4 times by the am
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #640
  • Jul 15, 2012 5:49pm Jul 15, 2012 5:49pm
Quoting Turveyd
I will go look for them.

I pulled a 8 SL stop, within seconds was 20pips in the red so bought a 2nd position, and lost 65pips or something in total causing a nasty dip.

There definately with the current trend, ofcourse that is likely to change 4 times by the am
Yes a lot of changes I expect this week or tonight, with GB House moves due soon, I don't want to be up all night again.

On a roll so far just need to get back what I lost Friday and start once again.
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