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Trading EURUSD only

  • #35,861
  • Feb 21, 2013 9:26am Feb 21, 2013 9:26am
an example of extreeme diverenge worked well just before spike. micro deverenge
& reverse diverenge
Attached Image (click to enlarge)
Click to Enlarge Name: _3.gif Size: 31 KB
  • #35,862
  • Feb 21, 2013 9:26am Feb 21, 2013 9:26am
it seems retracement going near 1.33 !?
  • #35,863
  • Feb 21, 2013 9:28am Feb 21, 2013 9:28am
when there is a distance in between yes
like this one
it may hold

Quoting Lucrativ
I remember one of the trendline rules being: 3 tests of a TL makes it a strong one especially on a larger time frame. We shall surely see if this holds true
  • #35,864
  • Feb 21, 2013 9:29am Feb 21, 2013 9:29am
detailed

Renko 4 periods
micro 14-18
main 169
macro NA


Renko 16 periods
micro 14-16
main 117
macro 744

Quoting stevewalker
setp up
Renko 4 pips & 16 pips

attach what u use for determining levels. same. no difference as H/L are tje same

attached
CCI
HLC/3
Renko 4 14 & 18
Renko 16 14 & 16

tell me what yo see when you look @ CCI

give yourself some time
  • #35,865
  • Feb 21, 2013 9:31am Feb 21, 2013 9:31am
Renko 16 LG signal was @ 3184
worked well
  • #35,866
  • Feb 21, 2013 9:32am Feb 21, 2013 9:32am
Steve can u please tell me what broker do you use?And what spread you have for example on EUrusd
  • #35,867
  • Feb 21, 2013 9:33am Feb 21, 2013 9:33am
another LG Signal @ Renko 4 3212
tired & sleepy

done for today
  • #35,868
  • Feb 21, 2013 9:35am Feb 21, 2013 9:35am
broker is personal
but I have average 0.5 pips spread with 0.5 pips average slippage + $10 comission round turn ( means 1 pip )
total 2pips/trade


in general
EURUSD cost/trade is 2 pips for most brokers.
dont get cought by low spread
they fill the gap with slippage
believe it or not.

I have tested & proved


Quoting SashaP
Steve can u please tell me what broker do you use?And what spread you have for example on EUrusd
  • #35,869
  • Feb 21, 2013 9:37am Feb 21, 2013 9:37am
any broker average spread < 0.50 is not realstic as EURUSD average tick is around 0.35 pips
average spread must be > avergae tick

Quoting stevewalker
broker is personal
but I have average 0.5 pips spread with 0.5 pips average slippage + $10 comission round turn ( means 1 pip )
total 2pips/trade


in general
EURUSD cost/trade is 2 pips for most brokers.
dont get cought by low spread
they fill the gap with slippage
believe it or not.

I have tested & proved
  • #35,870
  • Feb 21, 2013 9:39am Feb 21, 2013 9:39am
Renko 4 will fail
it must be used with renko 16
or extreeme diverenge will hunt you or keep you away from trading
  • #35,871
  • Feb 21, 2013 9:45am Feb 21, 2013 9:45am
see you tomorrow
I am gone

trade well
  • #35,872
  • Feb 21, 2013 9:49am Feb 21, 2013 9:49am
Your comission seams quite expensive, especially when you scalp a lot.
My broker have a spread about 0.5, I can pre-set my slippage, which I have set at 0.5 at action time and 0.3 when slow.
Roundtrip comission 0.48pip, and then I get 0.18pip in rebate as one of my friends introduced me to broker and he repay me almost all his IB earnings, so roundtrip comission right now is 0.30pip.
I could not make money if comissin was higher.
Quoting stevewalker
broker is personal
but I have average 0.5 pips spread with 0.5 pips average slippage + $10 comission round turn ( means 1 pip )
total 2pips/trade


in general
EURUSD cost/trade is 2 pips for most brokers.
dont get cought by low spread
they fill the gap with slippage
believe it or not.

I have tested & proved
  • #35,873
  • Feb 21, 2013 9:55am Feb 21, 2013 9:55am
Quoting Swedishtrade
Your comission seams quite expensive, especially when you scalp a lot.
My broker have a spread about 0.5, I can pre-set my slippage, which I have set at 0.5 at action time and 0.3 when slow.
Roundtrip comission 0.48pip, and then I get 0.18pip in rebate as one of my friends introduced me to broker and he repay me almost all his IB earnings, so roundtrip comission right now is 0.30pip.
I could not make money if comissin was higher.
Do you close most of the orders for 1-2 pips ?
what platform are you using with limit slippage?
i usually set POs at key levels or times when slippage usually occurs, else i monitor very close execution time,
and i don't get slippage in 80% of the time.
  • #35,874
  • Feb 21, 2013 9:58am Feb 21, 2013 9:58am

Quoting stevewalker
another LG Signal @ Renko 4 3212
tired & sleepy

done for today
  • #35,875
  • Feb 21, 2013 10:05am Feb 21, 2013 10:05am
I do a lot of trades during a day, and most of them are closed at 0.8-3 pips. this is my scalping, then I have trades I try to make 3-6 pips and sometimes as today I try to 20+pips, but only when I feel confident about a setup.
Quoting prezd
Do you close most of the orders for 1-2 pips ?
what platform are you using with limit slippage?
i usually set POs at key levels or times when slippage usually occurs, else i monitor very close execution time,
and i don't get slippage in 80% of the time.
  • #35,876
  • Feb 21, 2013 10:08am Feb 21, 2013 10:08am
Hello all,
my updated view on the Euro FX currency futures:

Yesterday evening the Euro FX pierced the 1.3276 level that we were closely watching and that decreed the opportunity of a larger move into the 1.2900 area. Indeed, the market continue lower and the selling resumed during the Asian session.
The Euro also hit the first target in the 1.3270 area and is now headed into the 1.3130, where we could get a bounce.
http://elitefive.files.wordpress.com...ng?w=650&h=373Euro FX futures contract, 4-hour chart – February 21st, 2013



The plan is the same as yesterday (see above picture). If the relative lows are in at the 1.3474 level (due to an inner traditional move) we could see a retrace into the 1.3240 to 1.3300 area before the move lower can resume.
The target is now confirmed at 1.2900 and it is just a matter of how and when price can get there. This could happen in the coming two weeks.


The video-analysis is on the Blog.
Trade safe.
Cheers
G.
"markets traded by programs/HFT offer a significant trading edge..."
  • #35,877
  • Feb 21, 2013 11:36am Feb 21, 2013 11:36am
For the record

As I mentioned earlier today, I am very confident that we will close at or above 3220, so I will enter long sometime from now and 24hour GMT, and exit at or above 3220.

I will post when entering.
  • #35,878
  • Feb 21, 2013 11:54am Feb 21, 2013 11:54am
Long at 3198, first lot. Will add at 3190, 3180 and 3172 if it gets there.
Quoting Swedishtrade
For the record

As I mentioned earlier today, I am very confident that we will close at or above 3220, so I will enter long sometime from now and 24hour GMT, and exit at or above 3220.

I will post when entering.
  • #35,879
  • Feb 21, 2013 11:55am Feb 21, 2013 11:55am
renko 4 setup for LG @ 3200
watching only not trading

Quoting Swedishtrade
Long at 3198, first lot. Will add at 3190, 3180 and 3172 if it gets there.
  • #35,880
  • Feb 21, 2013 11:56am Feb 21, 2013 11:56am
yep
I know

but I am ok with the broker.


Quoting Swedishtrade
Your comission seams quite expensive, especially when you scalp a lot.
My broker have a spread about 0.5, I can pre-set my slippage, which I have set at 0.5 at action time and 0.3 when slow.
Roundtrip comission 0.48pip, and then I get 0.18pip in rebate as one of my friends introduced me to broker and he repay me almost all his IB earnings, so roundtrip comission right now is 0.30pip.
I could not make money if comissin was higher.
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