Aussie Trading Room and Cartoons Gallery | Page 867 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Cartoons and Pics 2,832 replies

EUR/USD Trading Room 328 replies

Do The Trading Room 20 replies

Attachments: Aussie Trading Room and Cartoons Gallery
Exit Attachments

Aussie Trading Room and Cartoons Gallery

  • #17,321
  • Edited 10:07pm Dec 1, 2012 9:43pm | Edited 10:07pm
Talking about the platforms, I have used quite a few so far. The best one IMO is TradeStation. NinjaTrader and ProRealTime are also good platforms. Their languages are not too hard to understand. As to MT4, I don't like it. The scripts are too hard to learn. I know a lot of people use it. I have also used the platforms of FXCM and IB before. Although they are big brokerage firms, their platforms are ranked at the bottom of my list.
daddybearforex. com
  • #17,322
  • Dec 1, 2012 9:48pm Dec 1, 2012 9:48pm
Quoting DaddyBear
Talking about the platforms, I have used quite a few so far. The best one IMO is TradeStation. NinjaTrader and ProRealTime are also good platforms. Their languages are not too hard to understand. As to MT4, I don't like it. The scripts are too hard to learn. I know a lot of people use it. I have also used the platforms of FXCM and IB before. Although they are big brokerage firms, their platforms are ranked at the end of my list.
The reason I believe the programmable platform is a must is that it allows the users to create their custom indicators and/or strategies. Auto trading and back testing are also good functions of such platforms.
daddybearforex. com
  • #17,323
  • Dec 1, 2012 9:57pm Dec 1, 2012 9:57pm
Are custom indicators necessary? I believe so. While there is nothing wrong to use stock indicators, I have found the stock indicators cannot match my personal trading approaches. One simple reason is that I don't want look at the same indicators which are being used by the majority of traders at anytime. They see what I see. I wouldn't think it's a good idea to do so.

Custom indicators let the traders see something before others can see it. This would provide an edge to the traders using custom indicators.
daddybearforex. com
  • #17,324
  • Dec 1, 2012 10:06pm Dec 1, 2012 10:06pm
As to the scripts languages, I believe ProRealTime has the easiest program for anyone who are willing to learn. Although it is not the most powerful platform available in the market, it provides enough power for traders. I like the color scheme of the program. I'd say it is the most artistic platform I have used so far.

TradeStation's EasyLanguage is by far the most powerful program and yet not too hard to learn. It is not that easy as its name suggests but IMO it's much easier than MT4.

NijarTrader's program is harder to learn than Tradestation but is still much easier than MT4. It's very powerful as well.
daddybearforex. com
  • #17,325
  • Dec 1, 2012 10:18pm Dec 1, 2012 10:18pm
The cost associated with these good platforms varies.

IG provides ProRealTime for active traders for free. A low fee is required for not so active traders. A free EOD data and platform use can be obtained from the software company.

TradeStation charges a monthly fee if the trading volume is lower than the threshold. I believe it was $100 per month before.

NinjarTrader also provides free EOD data and platform use. To use it with a live account, a paid license is required.

MT4 is free but I have run away from it because I just don't like it.
daddybearforex. com
  • #17,326
  • Dec 2, 2012 3:21am Dec 2, 2012 3:21am
Quoting DaddyBear
The cost associated with these good platforms varies.

IG provides ProRealTime for active traders for free. A low fee is required for not so active traders. A free EOD data and platform use can be obtained from the software company.

TradeStation charges a monthly fee if the trading volume is lower than the threshold. I believe it was $100 per month before.

NinjarTrader also provides free EOD data and platform use. To use it with a live account, a paid license is required.

MT4 is free but I have run away from it because I just don't...
i dont think its free, you have to have at least 4 transaction per month, otherwise will cost $60 ?
  • #17,327
  • Dec 2, 2012 8:31am Dec 2, 2012 8:31am
Quoting HelloOz
i dont think its free, you have to have at least 4 transaction per month, otherwise will cost $60 ?
IG provides ProRealTime for active traders for free.

4 transactions per month is a very low threshold for active traders.
daddybearforex. com
  • #17,328
  • Edited 9:11am Dec 2, 2012 8:40am | Edited 9:11am
"I am bullish on AUD/USD.
Although the AUD/USD has been marked by range trading for the past month, traders should bear in mind that the aussie has been making slow but steady progress, having gained around three cents against the greenback since early October. After some encouraging US data, some releases, such as employment, have not been strong. The looming fiscal crisis in the US will likely impact on the movement of the pair. In all likelihood, some kind of compromise will be reached on Capital Hill, which would be US dollar negative, and increase the demand for riskier currencies like the Australian dollar."


http://www.forexcrunch.com/audusd-forecast-december-3-7/


"In all likelihood, some kind of compromise will be reached on Capital Hill, which would be US dollar negative."

I am not sure if this is correct. If a deal reached before the end of this year, the US has to cut budgets and reduces deficits accordingly. IMO this would be US dollar positive.
daddybearforex. com
  • #17,329
  • Edited 9:11am Dec 2, 2012 8:46am | Edited 9:11am
Quoting DaddyBear
"In all likelihood, some kind of compromise will be reached on Capital Hill, which would be US dollar negative."

I am not sure if this is correct. If a deal reached before the end of this year, the US has to cut budgets and reduces deficits accordingly. IMO this would be US dollar positive.
IMO the Aussie would move up if no deal could be reached before 12/31/12. But, no compromise is very unlikely. In the end there will be a final minute deal.
daddybearforex. com
  • #17,330
  • Dec 2, 2012 8:57am Dec 2, 2012 8:57am
Quoting DaddyBear
IMO the Aussie would move up if no deal could be reached before 12/31/12. But, no compromise is very unlikely. In the end there will be a final minute deal.
Time is the most intriguing element in the chart analysis. Based on my daily chart below, the end of wave C could be tested right before 12/31/12. After a deal is reached, the Aussie may move downward to LTL.

http://www.forexfactory.com/attachme...1&d=1354375158
daddybearforex. com
  • #17,331
  • Dec 2, 2012 9:04am Dec 2, 2012 9:04am
Current tally of the poll indicates both H1 and H4 are the leading TF used by traders of this forum in trading decision making.


Attached Image (click to enlarge)
Click to Enlarge Name: POLL-112612.JPG Size: 93 KB
daddybearforex. com
  • #17,332
  • Dec 2, 2012 9:09am Dec 2, 2012 9:09am
Quoting DaddyBear
Current tally of the poll indicates both H1 and H4 are the leading TF used by traders of this forum in trading decision making.
Based on this poll tally, I'd believe most people in this forum are not scalpers but position traders or daytraders instead.
daddybearforex. com
  • #17,333
  • Dec 2, 2012 9:20am Dec 2, 2012 9:20am
Quoting DaddyBear
Based on this poll tally, I'd believe most people in this forum are not scalpers but position traders or daytraders instead.
This poll is intended to let people understand how the majority of this forum make their decisions in trading. Everyone has his own thinking and trading style. But, when the majority are using H1 and H4, there must be some reasons behind this tally.

H1 and H4 are lagging behind M15 and M5. Timing the entries may not be appropriate IMO.
daddybearforex. com
  • #17,334
  • Dec 2, 2012 9:22am Dec 2, 2012 9:22am
My way is using H1 and H4 to get the directions but use M5 or M15 for the entries and exits.
daddybearforex. com
  • #17,335
  • Dec 2, 2012 9:37am Dec 2, 2012 9:37am
Current Rate: 244/284
daddybearforex. com
  • #17,336
  • Dec 2, 2012 9:39am Dec 2, 2012 9:39am
Oanda will open at 1500 EST. I believe a gap up is in the cards due to CNY PMI was the highest in recent months.
daddybearforex. com
  • #17,337
  • Dec 2, 2012 9:41am Dec 2, 2012 9:41am
Can this gap up be held and move higher later? We shall see this afternoon and tonight.
daddybearforex. com
  • #17,338
  • Dec 2, 2012 9:52am Dec 2, 2012 9:52am
Quoting DaddyBear
Can this gap up be held and move higher later? We shall see this afternoon and tonight.
Current charts reading:

D1 - Bearish
H4 - Slightly Bullish
H1 - Bullish

Using a combination of this sentiments, I'd say a fading at the top of a possible gap may be in the cards.
daddybearforex. com
  • #17,339
  • Dec 2, 2012 10:01am Dec 2, 2012 10:01am
Since 11/29, the PA has been choppy at least. It became tough to understand what the Aussie is going to move next. Although H4 is a lagging TF in daytrading context, it is still the best gauge of the directions.

My H4 ADX reading suggests the PA since 11/29 is a consolidation pattern. This consolidation IMO is a continuation pattern as well. Although the pattern is being held by the daily LTL, there is still possibility that the LTL may break later.
daddybearforex. com
  • #17,340
  • Dec 2, 2012 10:07am Dec 2, 2012 10:07am
Quoting DaddyBear
Since 11/29, the PA has been choppy at least. It became tough to understand what the Aussie is going to move next. Although H4 is a lagging TF in daytrading context, it is still the best gauge of the directions.

My H4 ADX reading suggests the PA since 11/29 is a consolidation pattern. This consolidation IMO is a continuation pattern as well. Although the pattern is being held by the daily LTL, there is still possibility that the LTL may break later.
If this LTL breaks, the potential support could be at 1.035x level. The question is how soon this may occur. IMO it could be a swift move.
daddybearforex. com
9 traders viewing now