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  • #845,641
  • Oct 22, 2013 12:38am Oct 22, 2013 12:38am
Quoting KiwiTrada
{quote} just little friendly advice, keep your researching levels, try find out why pa reacted at certain levels etc etc, I note it is a 4hr chart, fairly compressed. so is a huge time span. My advice is to I prefer start with monthly or then weekly then daily etc etc just keep working down the time frames "just" focus on nearest or next S/R for each time frame, once you have these levels, 2 per time frame, then decide which time frame you are going to actually trade, this will of course be determined by the closest S/R, say its monthly or weekly...
Good Evening Kiwi,

Been pretty busy coming into exam period haven't been posting too much.

Found a nice hedge to my net EURUSD shorts in the EURNZD. Bias on NZDUSD is short, hence the rational.


Yeah to your post, i use H4, Daily and Weekly to identify entry/exit points, but I use M15 to attempt to get the very best position, closest to the mark

I break the market up into sections by the different S/R levels, then trade in sections accordingly..

Tends to work... In theory would have SL outside each section and entry/exit within.
Even the worst trade can close with profit. Just give it time.
  • #845,642
  • Oct 22, 2013 12:38am Oct 22, 2013 12:38am
Quoting KiwiTrada
{quote} Bro you are not alone If you considering any broker, "google" ^%&^%$&$ scam, will quickly see how big a bastard they are, remember all brokers are bastards, just have to find the least bastard of them all "before" you trust them with your hard earned money
Yeah,

GoMarkets seems pretty good so far, no random spikes or massive changes in spreads
Even the worst trade can close with profit. Just give it time.
  • #845,643
  • Oct 22, 2013 12:44am Oct 22, 2013 12:44am
Quoting KiwiTrada
{quote} Bro you are not alone If you considering any broker, "google" ^%&^%$&$ scam, will quickly see how big a bastard they are, remember all brokers are bastards, just have to find the least bastard of them all "before" you trust them with your hard earned money

any recommendations on good brokers?
  • #845,644
  • Oct 22, 2013 12:46am Oct 22, 2013 12:46am
Due to some personal reasons I have returned to the fx community after a long gap.here is my Idea for today for EU and GU having limit orders on both levels.Sl for EU is below 1.3500 and for Gu is below 1.6000. TP is open for both pairs.Expecting those orders maybe filled during NFP
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.png Size: 25 KB
Click to Enlarge Name: gu.png Size: 25 KB
Read the chart... Fundies are catalyst...
  • #845,645
  • Oct 22, 2013 12:47am Oct 22, 2013 12:47am
Quoting John Gray
{quote} Yeah, GoMarkets seems pretty good so far, no random spikes or massive changes in spreads
i don't know about now , but i have used them 2 year back , very slow execution , once it was extract 20 pip different from pa after it broke support or resistant , no one could be able to book profit and online chat team said they don't have any technical problem
Mohan
  • #845,646
  • Edited 12:58am Oct 22, 2013 12:48am | Edited 12:58am
Quoting eliteincome
Gidday I remember ........................Since then I trade small trades just takes longer to be right.
Even longer trades have no guarantee. Just trade small and very frequently............. 'Keep your positions as small as possible"

I opened a $5,000 account with the biggest broker in retail forex market that had 2.5 pip spread for euro/usd thinking there would be no bullshit. They were no thieves, but daylight robbers. Never got my market orders filled after first month. I don't remember a single market order that got filled during NY or London session. Only thing that worked with them was limit orders.
The Thief of Wall Street
  • #845,647
  • Oct 22, 2013 12:50am Oct 22, 2013 12:50am
usd/chf data in 10 mins, this data is imp since it will reflect the impact of strong swissy and hope will wake up SNB
  • #845,648
  • Oct 22, 2013 12:55am Oct 22, 2013 12:55am
Quoting giveachance
usd/chf data in 10 mins, this data is imp since it will reflect the impact of strong swissy and hope will wake up SNB
swiss biggest trading partners is Germany 28 ~ 30% (if i am correct 50% to eu) of Swiss export , us 9% , SNB have already pegged Eu/chf , don't expect central bank to deliver the world .
Mohan
  • #845,649
  • Oct 22, 2013 12:55am Oct 22, 2013 12:55am
Quoting lovesuccess
{quote} any recommendations on good brokers?
There is no such thing. Good and Broker should never be used in one sentence.
The Thief of Wall Street
  • #845,650
  • Oct 22, 2013 12:57am Oct 22, 2013 12:57am
Hi. Calculated level for today comes in @ 3693 mR, with safety barriers(sb) @ +/- 15, 30 ticks. How I look to trade these is simple:

1. Price breaks the 15 ticks sb, touches the 30 ticks sb retraces either to the 20 EMA before going down further

2. Price breaks the 15 ticks sb, touches the 30 ticks sb, retraces/reverses all the way back up
Attached Image (click to enlarge)
Click to Enlarge Name: 22oc13.png Size: 51 KB
  • #845,651
  • Oct 22, 2013 12:58am Oct 22, 2013 12:58am
Quoting mohan76
{quote} swiss biggest trading partners is Germany 28 ~ 30% (if i am correct 50% to eu) of Swiss export , us 9% , SNB have already pegged Eu/chf , don't expect central bank to deliver the world .

I know that. but swiss is hughely overvalued and the trade balance numbers will be horrible

surprise surprise looks like swiss chocolates are in huge demand
  • #845,652
  • Oct 22, 2013 1:04am Oct 22, 2013 1:04am
Quoting Chicky
{quote} Even longer trades have no guarantee. Just trade small and very frequently............. 'Keep your positions as small as possible" I opened a $5,000 account with the biggest broker in retail forex market that had 2.5 pip spread for euro/usd thinking there would be no bullshit. They were no thieves, but daylight robbers. Never got my market orders filled after first month. I don't remember a single market order that got filled during NY or London session. Only thing that worked with them was limit orders.
really? market order should be filled instantly after you click the mouse button. my buy from limit offer and sell to limit bid are filled instantly.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #845,653
  • Oct 22, 2013 1:05am Oct 22, 2013 1:05am
Quoting ffleo
{quote} really? market order should be filled instantly after you click the mouse button. my buy limit offer and sell limit bid are filled instantly.

In my case I never get to submit the order at the price I want. so looks like it is a worldwide problem
  • #845,654
  • Oct 22, 2013 1:05am Oct 22, 2013 1:05am
Quoting Chicky
{quote} There is no such thing. Good and Broker should never be used in one sentence.
ok less bastard then
  • #845,655
  • Oct 22, 2013 1:11am Oct 22, 2013 1:11am
Quoting giveachance
{quote} In my case I never get to submit the order at the price I want. so looks like it is a worldwide problem
maybe because i trade futures, i see offers and bids at different price on my platform. when i click buy offer, my order is filled instantly at the lowest available offer price on the platform.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #845,656
  • Oct 22, 2013 1:12am Oct 22, 2013 1:12am
Quoting giveachance
{quote} In my case I never get to submit the order at the price I want. so looks like it is a worldwide problem

slip is normal , over the time its have to be in your favor and against , if it always against you then you should consider changing broker
Mohan
  • #845,657
  • Oct 22, 2013 1:14am Oct 22, 2013 1:14am
Quoting ffleo
{quote} really? market order should be filled instantly after you click the mouse button. my buy from limit offer and sell to limit bid are filled instantly.
They never filled my market orders. I used to place a limit order 2 pips from the current market price. There was no problem with these limit orders, they always got filled no matter how volatile market was.
The Thief of Wall Street
  • #845,658
  • Oct 22, 2013 1:16am Oct 22, 2013 1:16am
Quoting KiwiTrada
{quote} just little friendly advice, keep your researching levels, try find out why pa reacted at certain levels etc etc, I note it is a 4hr chart, fairly compressed. so is a huge time span. My advice is to I prefer start with monthly or then weekly then daily etc etc just keep working down the time frames "just" focus on nearest or next S/R for each time frame, once you have these levels, 2 per time frame, then decide which time frame you are going to actually trade, this will of course be determined by the closest S/R, say its monthly or weekly...
Thank you for your post. It is very clear.

Those levels are drawn from the weekly taking in consideration only the major swings in that TF. I have posted an intraday chart just to show how prices did react to those levels, which is quite accurate in my view.

Your way makes a lot of sense and I will also put some time in it......
Wherever you go, there you are.
  • #845,659
  • Oct 22, 2013 1:23am Oct 22, 2013 1:23am
Quoting Chicky
{quote} They never filled my market orders. I used to place a limit order 2 pips from the current market price. There was no problem with these limit orders, they always got filled no matter how volatile market was.
that is weird. limit orders are sitting there to be taken by incoming limit orders and market orders. because market order has no price specified, there is always left-over limit orders to fill your market order.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #845,660
  • Oct 22, 2013 1:28am Oct 22, 2013 1:28am
Quoting lovesuccess
{quote} ok less bastard then
Split your money 5 to 10 ways. Open accounts with several brokers. You will be safe if withdrawal is not a problem. The only thing you would need to do is to place small trades and keep on withdrawing on a regular basis. Never let an account grow beyond a certain limit. This is called Diversification of Risk". They don't deserve big business because we don't know how much risk they take and when they go bankrupt.
The Thief of Wall Street
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