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  • #24,061
  • Apr 29, 2013 3:10am Apr 29, 2013 3:10am
Quoting SimpleDev
I like AJ today, US and Asia agreed with each other. {image}
Took a partial at pivot 101.15, was hoping to be able to take the rest up to 101.60 but doesn't look like its going to happen. BE at 100.8
Attached Image (click to enlarge)
Click to Enlarge Name: 15m.png Size: 55 KB
  • #24,062
  • Apr 29, 2013 4:40am Apr 29, 2013 4:40am
Quoting SimpleDev
{quote} Yup, you did well seeing the situation with EU, I think the entries are the most difficult. Often it seems as if its easier to pick the bottom than to find entries after the waiting for the trend to change. But HG yells at me when I try to pick the tops/bottoms Side note.. thought this is interesting! http://finance.yahoo.com/blogs/daily...5965.html?vp=1 {image}
I relate to you with the entries thing. For me too, I feel very difficult to entry after the move started. I do prefer to entry very near the top or bottom.
The best entries are tests or low volume bars back into high volume areas.
Today I tried a breakout on a 15min candle on eurusd but the BS of Alpari requote big time and I chose not to chase the beast.

By the way, Alpari requotes even with demo accounts!! Amazing!
  • #24,063
  • Apr 29, 2013 4:43am Apr 29, 2013 4:43am
Quoting SimpleDev
{quote} Yup, you did well seeing the situation with EU, I think the entries are the most difficult. Often it seems as if its easier to pick the bottom than to find entries after the waiting for the trend to change. But HG yells at me when I try to pick the tops/bottoms Side note.. thought this is interesting! http://finance.yahoo.com/blogs/daily...5965.html?vp=1 {image}
For the JCPenney, maybe that UHV down bar was him buying... or he will be selling a bunch into the rising prices... :-)
  • #24,064
  • Apr 29, 2013 4:44am Apr 29, 2013 4:44am
Quoting SimpleDev
{quote} Took a partial at pivot 101.15, was hoping to be able to take the rest up to 101.60 but doesn't look like its going to happen. BE at 100.8 {image}
Congrats on this one!
  • #24,065
  • Apr 29, 2013 4:56am Apr 29, 2013 4:56am
Another way that I am falling in love to analyse the markets is with the Weis Wave(though am just starting and have a lot learn yet).
Below is a 200 ticks from TradeStation. The Weis Wave is set for a reversal of 3 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: 2013-04-29_euro_weis_wave.png Size: 105 KB


For the guys that use PnF charts, like KS, if you set the PnF for <minimum variation> x <wave reversal>, and can plot the volume with PnF charts, than it is the same as the Weis Wave.
For example, for eurusd, assuming you want to use a 3 pips reversal, just set 1x3 and plot the volume. You should get something like this:

Attached Image (click to enlarge)
Click to Enlarge Name: 2013-04-29_pnf_waves_chart.png Size: 82 KB


Just to share this idea.
Cheers!
  • #24,066
  • Apr 29, 2013 5:32am Apr 29, 2013 5:32am
Quoting joaoborras
Today I tried a breakout on a 15min candle on eurusd but the BS of Alpari requote big time and I chose not to chase the beast. By the way, Alpari requotes even with demo accounts!! Amazing!
Hi joaoborras,

Re-quotes have been around ever since markets were allowed to float and are a natural consequence of that. If you are trading with the momentum of the market, and therefore by definition in the direction of least liquidity, then re-quotes are an inescapable fact of life that everyone has to deal with, from the busiest InterBank desks to the smallest retail trader. The only current alternatives are Direct Market Access Accounts (DMA). We at Alpari (UK) refer to this as a Pro account.

The basic difference here is that prices are not held static (for a few seconds) like non-DMA accounts, they constantly change. Orders are sent on a Fill or Kill basis where although you can avoid re-quotes, the risk is not getting a trade in (or out) at your preferred price at all. DMA accounts however do charge a commission (in lieu of spread) for each trade that you place.

To minimize re-quotes on non-DMA accounts:

1. "Enable the maximum deviation for quoted price" checkbox and set it above 10. This implies the max deviation is just 1 pip. To prevent re-quotes during volatile trading times, you may want to set the max deviation between 10 to 40 points (1 to 4 pips).

2. If you use an MT4 indicator to detect spread widening, please make sure that your indicator is configured for the 5 decimal pricing system that we use. Otherwise a 3 pip spread-widening will be shown as 30 pips by the indicator.

3. Another thing to consider is your internet connection to our servers. Test your latency by pinging the Alpari trading servers or just ping alpari.co.uk. If your latency is high (higher ms numbers), then this is one of the factor causing your orders to be re-quoted.

For example, let's say a client is complaining about re-quotes. He gives us an account number and we pull the logs. We find that we received his order at let's say, 9:01:11 and sent the execution back at 9:01:12, so less than a second. He claims it took two minutes and was requoted. Now, his logs showed that the order was placed by him (manually) at 8:59:50. So, yes, assuming all timestamps are correct, that looks like 2 minutes, but we can clearly see that from the time it was received on our end until the time of execution it was barely only a second, hardly a bad time.

Traders in UK and Europe enjoy significantly lower latencies (hence higher speed execution) and experience almost no re-quotes (when maximum deviation setting is correct) than other traders usually in Asia, Australia, Africa or in countries where the internet is routed via proxies such as Saudi Arabia.

If you would like to discuss this or any other matter further, please feel free to contact our team on live-chat, via email or on +44 (0) 207 426 2900. We're here to help.


Alex

________
Alexander Chadwick
Alpari (UK) Representative
  • #24,067
  • Apr 29, 2013 5:52am Apr 29, 2013 5:52am
Quoting Alpari UK
{quote} Hi joaoborras, Re-quotes have been around ever since markets were allowed to float and are a natural consequence of that. If you are trading with the momentum of the market, and therefore by definition in the direction of least liquidity, then re-quotes are an inescapable fact of life that everyone has to deal with, from the busiest InterBank desks to the smallest retail trader. The only current alternatives are Direct Market Access Accounts (DMA). We at Alpari (UK) refer to this as a [url="http://www.alpari.co.uk/products/product-account-comparison-table"]Pro...
Hi Alex,
Thank you very much for your prompt and detailed explanation.
Yes, I am aware of the re-quotes and its reasons. And, yes, you are right when you say that it happens when we trade in the direction of less liquidity(it happens to me when I try to buy/sell on rising/falling prices with market orders. I guess that stop or limit orders would work better.
My internet is high speed, even I am in Asia(Japan), but I will ping the server, as you indicated.

Anyways, re-quotes are inevitable but annoying! :-)
Also, I have experience with other brokers(Oanda, FXCM and TradeStation) and I barely get re-quotes there.

But that's ok, I understand and accept it. I just wanted to express a bit of frustration in my attempted trade today. :-)

Again, thank you for your answer!

Best regards.
  • #24,068
  • Apr 29, 2013 5:44pm Apr 29, 2013 5:44pm
Quoting joaoborras
Another way that I am falling in love to analyse the markets is with the Weis Wave(though am just starting and have a lot learn yet). Below is a 200 ticks from TradeStation. The Weis Wave is set for a reversal of 3 pips. {image} For the guys that use PnF charts, like KS, if you set the PnF for <minimum variation> x <wave reversal>, and can plot the volume with PnF charts, than it is the same as the Weis Wave. For example, for eurusd, assuming you want to use a 3 pips reversal, just set 1x3 and plot the volume. You should get something like this:...
What program is it that you're getting that PnF chart from?
  • #24,069
  • Apr 29, 2013 10:08pm Apr 29, 2013 10:08pm
Looks as if we see some nice selling across a few pairs.. Thought I would throw up a couple of chart for AJ and GU.

First is a 15m of AJ.

Starting from the left it looks as if yesterday London sold bars 1 and 2, the 2 bar admitted looks initially like it could have been some strength but the next 2 bars following it are both down taking out the low of this bar.

US session sold into bars 3 and 4, and today later in the Asian session it was hit again with bar 6 being a hidden UT.

1h GU

GU is in a nice up trend so I would not expect this to take a huge nose dive, but there is some selling going on here. The main thing that catches my eye is bar 4. A lot of selling going on in this bar, but I don't think there is enough volume behind it to really call it a EORM. I would think that for it to be a true EORM it would need volume higher than the highest volume of the previous day for this example.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 15m.png Size: 66 KB
Click to Enlarge Name: 1h.png Size: 55 KB
  • #24,070
  • Apr 30, 2013 12:05am Apr 30, 2013 12:05am
Quoting joaoborras
{quote} For the JCPenney, maybe that UHV down bar was him buying... or he will be selling a bunch into the rising prices... :-)
Been starring at this all day now.. I think I am pretty bullish on this.

Lets start back in November on the far left of this daily chart. Stopping volume comes in and price drifts up. Now look at the selling I marked in red at the top of that move. There really isn't much compared to the initial stopping volume.

Price comes down and as we approach Novembers levels again we find more stopping volume.

I marked in green probably were Soros bought, the interesting part is the article says they bought a little less than 18 million shares, which is 8% of the company. That day was hit with 90 million shares exchanged.. I doubt that out of 90 million only 18 million were bought, so I wonder who has been buying this since November and how much of the company do they control?

eh well a couple of trading days ago we saw some potential abortion volume, I will buy some once that is successfully tested.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-04-29-TOS_CHARTS.png Size: 100 KB
  • #24,071
  • Apr 30, 2013 2:33am Apr 30, 2013 2:33am
Quoting KinsaleForex
{quote} What program is it that you're getting that PnF chart from?
It is TradeStation.
  • #24,072
  • Apr 30, 2013 2:39am Apr 30, 2013 2:39am
Great charts SimpleDev, what trading platform do you use?


Quoting SimpleDev
Looks as if we see some nice selling across a few pairs.. Thought I would throw up a couple of chart for AJ and GU. First is a 15m of AJ. Starting from the left it looks as if yesterday London sold bars 1 and 2, the 2 bar admitted looks initially like it could have been some strength but the next 2 bars following it are both down taking out the low of this bar. US session sold into bars 3 and 4, and today later in the Asian session it was hit again with bar 6 being a hidden UT. 1h GU GU is in a nice up trend so I would not expect this to take a...
  • #24,073
  • Apr 30, 2013 2:54am Apr 30, 2013 2:54am
Quoting SimpleDev
{quote} Been starring at this all day now.. I think I am pretty bullish on this. Lets start back in November on the far left of this daily chart. Stopping volume comes in and price drifts up. Now look at the selling I marked in red at the top of that move. There really isn't much compared to the initial stopping volume. Price comes down and as we approach Novembers levels again we find more stopping volume. I marked in green probably were Soros bought, the interesting part is the article says they bought a little less than 18 million shares, which...
yes, your plan and analysis sounds really good.
do you trade it through options or directly on shares?
just curiosity...
  • #24,074
  • Apr 30, 2013 3:00am Apr 30, 2013 3:00am
Quoting SimpleDev
Looks as if we see some nice selling across a few pairs.. Thought I would throw up a couple of chart for AJ and GU. First is a 15m of AJ. Starting from the left it looks as if yesterday London sold bars 1 and 2, the 2 bar admitted looks initially like it could have been some strength but the next 2 bars following it are both down taking out the low of this bar. US session sold into bars 3 and 4, and today later in the Asian session it was hit again with bar 6 being a hidden UT. 1h GU GU is in a nice up trend so I would not expect this to take a...
Good analysis.
I also was looking for a pull back on cable.
What is interesting a per the price action now, is that it is being bought in dips(today, it is being bought at the Asian range low).
Again, it is in line with the COT charts, that is bullish.
  • #24,075
  • Apr 30, 2013 3:24am Apr 30, 2013 3:24am
Lets try EJ today.
Attached Image (click to enlarge)
Click to Enlarge Name: 15m.png Size: 70 KB
  • #24,076
  • Apr 30, 2013 3:27am Apr 30, 2013 3:27am
Quoting Pip Singh
Great charts SimpleDev, what trading platform do you use? {quote}
I do my charting through Sierra charts.

Quoting joaoborras
{quote} yes, your plan and analysis sounds really good. do you trade it through options or directly on shares? just curiosity...
Options
  • #24,077
  • Apr 30, 2013 3:48am Apr 30, 2013 3:48am
Quoting joaoborras
Another way that I am falling in love to analyse the markets is with the Weis Wave(though am just starting and have a lot learn yet). Below is a 200 ticks from TradeStation. ..Cheers!

Approximately, how many minutes is 200 ticks? ..what are those numbers 4,6,20... on chart?
The Market pays you to be disciplined
  • #24,078
  • Apr 30, 2013 4:13am Apr 30, 2013 4:13am
Quoting joaoborras
{quote} It is TradeStation.
Thanks Jo, didn't see you had said it in the original post!

So are you paying for Tradestation or are you getting it for free with the use of a broker feed?
  • #24,079
  • Apr 30, 2013 4:28am Apr 30, 2013 4:28am
Quoting mima
{quote} Approximately, how many minutes is 200 ticks? ..what are those numbers 4,6,20... on chart?
Because it is time independent, it depends a lot on the activity at the moment.
With that said, it mimics well the 15min chart.

The numbers in the chart display the volume(in ticks) for each wave.

Pretty nice tool.
  • #24,080
  • Apr 30, 2013 4:29am Apr 30, 2013 4:29am
Quoting KinsaleForex
{quote} Thanks Jo, didn't see you had said it in the original post! So are you paying for Tradestation or are you getting it for free with the use of a broker feed?
No problem, KS! :-)

I use TS as broker so, the chart package is free.
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