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Silent Service Method

  • #14,921
  • Dec 3, 2012 7:59am Dec 3, 2012 7:59am
Quoting clockwork71
What the hell?

I woke up this morning to an email that says GFT is putting my account in "close only status." It also said that they are no longer taking US clients, and that I would be transferred to one of their "valued partners" soon. I know they have enough money to be regulated in the US.....so I wonder if the regulators are squeezing them out, making it more trouble than its worth.

I have been saying this for a while - I think we are all heading to the futures market before it is all said and done. There is even a mini market...
Our ever so protective government has been eyeballing spot for a few years now. They want a piece of the pie as well, i'm sure. In doing so, end up ruining it for those of us who aren't billion dollar traders.

Not that I wouldn't mind opening a futures account anyways. As I stated a few posts ago, price seems to move a bit more predictably.
  • #14,922
  • Dec 3, 2012 9:43am Dec 3, 2012 9:43am
Quoting Venice
Our ever so protective government has been eyeballing spot for a few years now. They want a piece of the pie as well, i'm sure. In doing so, end up ruining it for those of us who aren't billion dollar traders.

Not that I wouldn't mind opening a futures account anyways. As I stated a few posts ago, price seems to move a bit more predictably.
True......futures markets aren't bad......but this will be a barrier to some traders.

Having said that - I think I will be with Oanda soon. Maybe IBFX again, but they are now owned by TradeStation I think.....and I am not sure how they have been since. (I would assume alright.....but then again I assumed that with all of the money that GFT has under their belt, they would stay in the game with retail traders.....)
  • #14,923
  • Dec 3, 2012 1:47pm Dec 3, 2012 1:47pm
Quoting clockwork71
What the hell?

I woke up this morning to an email that says GFT is putting my account in "close only status." It also said that they are no longer taking US clients, and that I would be transferred to one of their "valued partners" soon. I know they have enough money to be regulated in the US.....so I wonder if the regulators are squeezing them out, making it more trouble than its worth.

I have been saying this for a while - I think we are all heading to the futures market before it is all said and done. There is even a mini market...
Really strange imho. GFT is a US company and one of the bigger ones. Something must be rotten in the state of Denmark if they opt out of the US retail market. I'm glad I'm not a US citizen... but I can't help but wonder what this will mean for us non US traders down the road... Futures here we come?
  • #14,924
  • Dec 4, 2012 3:15pm Dec 4, 2012 3:15pm
clockwork71

I started reading this thread just a couple days ago. This is one of best threads in FF, I believe. This "Silent Service" stands out in terms of the clear way of finding SR where the entry should make. Even though the concept of "zone" may be somewhat hard to grasp for newbies, it becomes a powerful tool for profitable trading once correctly understood.

The summary at post#1 really helps. That is a great idea! I'm sure I will learn a lot of good stuff from this thread

My trading style is pretty much about SR, using fibo. It's based on the PA methods I found in this forum -- I just mixed good approaches in the simplest form. For example, I post my take on UJ. I see two possible entries on this chart (red arrows).

Thank you very much for sharing your knowledge!
Forexgogo
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  • #14,925
  • Dec 5, 2012 6:26am Dec 5, 2012 6:26am
Quoting Forexgogo
clockwork71

I started reading this thread just a couple days ago. This is one of best threads in FF, I believe. This "Silent Service" stands out in terms of the clear way of finding SR where the entry should make. Even though the concept of "zone" may be somewhat hard to grasp for newbies, it becomes a powerful tool for profitable trading once correctly understood.

The summary at post#1 really helps. That is a great idea! I'm sure I will learn a lot of good stuff from this thread

My trading style is pretty much about SR, using fibo. It's...
Thanks for the note forexgogo.......and welcome. I like the look of your chart. It is simple, clean, easy to understand - and also points out an obvious spot to look for long set ups. Well done.

Chris
  • #14,926
  • Dec 5, 2012 3:21pm Dec 5, 2012 3:21pm
Quoting clockwork71
Thanks for the note forexgogo.......and welcome. I like the look of your chart. It is simple, clean, easy to understand - and also points out an obvious spot to look for long set ups. Well done.

Chris
clockwork71

Thank you very much! I'm glad you like my charting style

What you take on AU? Do you think a range between 1.06 and 1.02 tradable (top and bottom yellow lines)?
My take is, the wedge/triangle breaks upward and the price reaches 1.06. Then, turn around downward.

Thank you in advance!
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  • #14,927
  • Dec 5, 2012 11:20pm Dec 5, 2012 11:20pm
Quoting clockwork71
What the hell?

I woke up this morning to an email that says GFT is putting my account in "close only status." It also said that they are no longer taking US clients, and that I would be transferred to one of their "valued partners" soon. I know they have enough money to be regulated in the US.....so I wonder if the regulators are squeezing them out, making it more trouble than its worth.

I have been saying this for a while - I think we are all heading to the futures market before it is all said and done. There is even a mini market...
Was overseas (holiday) and trading via mobile and found I could not enter orders......thought it was my app playing up and/or the poor 3G connection in Malaysia....got back late last night only to finally check my email and find the same thing. A little annoyed as I missed an ideal Long entry on Bean Oil (CFD)......have been interested in a 'real' futures account and you are probably right due to the margins etc required many small fish may not be able to play........I'm going to open an IG Markets CFD account as they do 20% and 50% reductions in contract sizes many of their instruments (energies, softs and PM's)......I know its a synthetic market etc....but it seems to track pretty well......
  • #14,928
  • Dec 6, 2012 12:37am Dec 6, 2012 12:37am
Quoting mypipbull
Was overseas (holiday) and trading via mobile and found I could not enter orders......thought it was my app playing up and/or the poor 3G connection in Malaysia....got back late last night only to finally check my email and find the same thing. A little annoyed as I missed an ideal Long entry on Bean Oil (CFD)......have been interested in a 'real' futures account and you are probably right due to the margins etc required many small fish may not be able to play........I'm going to open an IG Markets CFD account as they do 20% and 50% reductions in...
My experience of IG Index as they were then known is not good. Check the rollover details, when I tried them they closed your trade at the end of the day and then reopened it charging you more spread! I'm sure things may have changed.
  • #14,929
  • Dec 6, 2012 12:52am Dec 6, 2012 12:52am
Quoting Hugh Briss
My experience of IG Index as they were then known is not good. Check the rollover details, when I tried them they closed your trade at the end of the day and then reopened it charging you more spread! I'm sure things may have changed.
Interesting, I usually roll a few days before and usually get the mid price (half spread). Will check their policy, thanks for the heads up.
  • #14,930
  • Dec 6, 2012 4:11am Dec 6, 2012 4:11am
Quoting Forexgogo
clockwork71

Thank you very much! I'm glad you like my charting style

What you take on AU? Do you think a range between 1.06 and 1.02 tradable (top and bottom yellow lines)?
My take is, the wedge/triangle breaks upward and the price reaches 1.06. Then, turn around downward.

Thank you in advance!
I too think that we are in a range between 1.02 and 1.06, but there is a minor area at 1.04 as well. Overall though, I think there is a bit of an upward bias. I don't necessarily think we are going to breakout in December though. If we do - it would more than likely be during very illiquid conditions late in the month, which normally get reversed in January. Of course, the "fiscal cliff" talks could move everything......especially if the Congress doesn't come together with an agreement.
  • #14,931
  • Dec 6, 2012 4:22am Dec 6, 2012 4:22am
Quoting clockwork71
I too think that we are in a range between 1.02 and 1.06, but there is a minor area at 1.04 as well. Overall though, I think there is a bit of an upward bias. I don't necessarily think we are going to breakout in December though. If we do - it would more than likely be during very illiquid conditions late in the month, which normally get reversed in January. Of course, the "fiscal cliff" talks could move everything......especially if the Congress doesn't come together with an agreement.
CW
Thank you very much for your comment. Good to know you have a similar reading
I believe USDCAD also looks ranging on weekly. 0.9900 would be the point where the price decides the direction, which is my take
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  • #14,932
  • Dec 6, 2012 6:37am Dec 6, 2012 6:37am
Speaking of the fiscal cliff. If it were to go through as is, as in, no deal was made. What impact would that have on the dixie? Would we be looking at a bullish dollar?
  • #14,933
  • Dec 6, 2012 8:58am Dec 6, 2012 8:58am
So....went long the ZAR/JPY this morning on a breakout of sorts - this will be interesting.....I am now a "carry trader" I guess???
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  • #14,934
  • Dec 6, 2012 9:00am Dec 6, 2012 9:00am
Quoting Forexgogo
CW
Thank you very much for your comment. Good to know you have a similar reading
I believe USDCAD also looks ranging on weekly. 0.9900 would be the point where the price decides the direction, which is my take
I currently see two possibilities:

We fall - and this would be with the longer-term trend, but I would give it a bit of room. I am looking to short it on a daily close below the 0.9875 level. However, if we manage to get over the 1.0050 level - say if the US goes over the cliff as it were - then this pair will take off. Until then, I am ignoring it......
  • #14,935
  • Dec 6, 2012 9:01am Dec 6, 2012 9:01am
Quoting Venice
Speaking of the fiscal cliff. If it were to go through as is, as in, no deal was made. What impact would that have on the dixie? Would we be looking at a bullish dollar?
Ironically, yes. This would be because of the recession the US would suddenly find itself in......people would run to the Treasury markets. Odd really if you think about it - but its what happens in times like this.
  • #14,936
  • Dec 6, 2012 9:21am Dec 6, 2012 9:21am
Quoting clockwork71
I currently see two possibilities:

We fall - and this would be with the longer-term trend, but I would give it a bit of room. I am looking to short it on a daily close below the 0.9875 level. However, if we manage to get over the 1.0050 level - say if the US goes over the cliff as it were - then this pair will take off. Until then, I am ignoring it......
A great reading. Makes perfect sense to me. Very interesting about the "cliff."
  • #14,937
  • Dec 6, 2012 10:34am Dec 6, 2012 10:34am
CW

Please help me understand your method.

Now I see possible entries on weekly charts EU and EJ. So, I come down to 4H and look for entry points. Here is what I would do:
EJ=enter @107 if it retraces.
EU=enter @1.60 if it retraces.
What would you do?

OR
Would you have entered already at the Pin bar (EJ) and the engulfing bar (EU)? (to me, it seems hard to do, looking at such steep bulls...)

Thank you in advance!
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  • #14,938
  • Dec 6, 2012 1:13pm Dec 6, 2012 1:13pm
Quoting Forexgogo
CW

Please help me understand your method.

Now I see possible entries on weekly charts EU and EJ. So, I come down to 4H and look for entry points. Here is what I would do:
EJ=enter @107 if it retraces.
EU=enter @1.60 if it retraces.
What would you do?

OR
Would you have entered already at the Pin bar (EJ) and the engulfing bar (EU)? (to me, it seems hard to do, looking at such steep bulls...)

Thank you in advance!
To be honest - I have left this pair lone for some time now. I think that the real levels to watch are 1.3150 and 1.27 - everything else is minor. But with the reaction today to the news conference, I would be selling if I had to be involved at all. To be honest - I haven't traded this pair in an age, and don't particularly miss it at this point.
  • #14,939
  • Dec 6, 2012 1:47pm Dec 6, 2012 1:47pm
Quoting clockwork71
To be honest - I have left this pair lone for some time now. I think that the real levels to watch are 1.3150 and 1.27 - everything else is minor. But with the reaction today to the news conference, I would be selling if I had to be involved at all. To be honest - I haven't traded this pair in an age, and don't particularly miss it at this point.
Thank you very much for the response. I know you don't trade news hours, neither do I (that's why I didn't jump in these breakout).

So, I understand even if we have good set-ups, news hours can ruin them, correct? In other words, we have to pass good set-ups in news hours even when the price moves favorably, right? (because of possible backlashes)

One more question, why you don't trade EU and EJ for a while? Not much volatility?

Thank you!
  • #14,940
  • Dec 6, 2012 7:13pm Dec 6, 2012 7:13pm
Quoting Forexgogo
Thank you very much for the response. I know you don't trade news hours, neither do I (that's why I didn't jump in these breakout).

So, I understand even if we have good set-ups, news hours can ruin them, correct? In other words, we have to pass good set-ups in news hours even when the price moves favorably, right? (because of possible backlashes)

One more question, why you don't trade EU and EJ for a while? Not much volatility?

Thank you!
I haven't traded the EUR/USD pair because it isn't acting rationally at all. The entirety of the moves are based upon whether or not there is concern about the debt situation in Europe, or if we are worried about the fiscal cliff in the USA. Also, we are getting towards the end of the year, and the volume is about to collapse........
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