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  • #949,841
  • Jan 13, 2015 4:07pm Jan 13, 2015 4:07pm
Quoting Mr Hatch
I'd not be so sure, when Blair reigned... but under Cameron? Never, ever...
I have deleted that conspiracy, as I cant believe it could happen broker takes opposite trade. But Wee keeps on surprising me. Thought all UK brokers can have max 50 leverage, i got 1,2 spread, Wee 3, +2 slippage. More strange stuff.
"I know one thing, that I know nothing." Sokrates
  • #949,842
  • Jan 13, 2015 4:07pm Jan 13, 2015 4:07pm
Quoting OnlineAddict
{quote} Why tomorrow? There is nothing special about tomorrow...the US news will only follow the daily trend, so if we have bulls until then and the news are bad, bulls will gain power, if its bearish until then and the news are bad, it will be just a nice opportunity to load up more shorts on the spike. But if there is a bear or bull before tomorrow's news, nobody knows...so we can only work with the information we get until then.
What's your tp on GU short ? I have also short at 1.5145 . Wanna see what happens tomorrow .
Make choices and don't look back !
  • #949,843
  • Jan 13, 2015 4:12pm Jan 13, 2015 4:12pm
make a demo account at ufx and you will see spread and slippage. maybe as a swiss customer i get higher leverage? for me it's all new, so no idea what the norms are. i know i see other places advertising 1000 to 1 and 800 to 1 advertising right here on FF.
  • #949,844
  • Jan 13, 2015 4:12pm Jan 13, 2015 4:12pm
Quoting Tom_D_Trader
{quote} I have deleted that conspiracy, as I cant believe it could happen broker takes opposite trade. But Wee keeps on surprising me. Thought all UK brokers can have max 50 leverage, i got 1,2 spread, Wee 3, +2 slippage. More strange stuff.
Wasn't the 50:1 with the US-brokers when the FIFO-rules got implemented? Wayyy back in time...
  • #949,845
  • Jan 13, 2015 4:15pm Jan 13, 2015 4:15pm
Quoting Mr Hatch
Wasn't the 50:1 with the US-brokers when the FIFO-rules got implemented? Wayyy back in time...
Yes, it is old rule and my favourite one. Wish all brokers had to obey and thought that in US, EU and GB, they meet these standards. Now am not so sure when Wee has broker in GB and leverage about 200:1. Or was it 400? Some total nonscence number.

Speaking of which, think am gonna stay at CFTC regulated brokers.

Edit 4 Wee: There is usually no slippage on Demo accounts. One of many fakes.
"I know one thing, that I know nothing." Sokrates
  • #949,846
  • Jan 13, 2015 4:21pm Jan 13, 2015 4:21pm
Quoting WeeMee
{quote} you will probably laugh even more, his advise was to take out the stop loss and let it ride. the theory being that it could not go lower then 1.1650 or close anyway, that if i give it enough time there is the upside waiting in the hundreds of pips. took the stop loss i had of 1.1740 off for about 5 minutes, then put it back, hehe. when i look at it coldly i see a bad trade, (counter big trend) that could just work out in the end. but even if he is right, why not buy in at a later stage when trend reversal has been confirmed....
This is your brain thinking logically.
  • #949,847
  • Edited 4:37pm Jan 13, 2015 4:23pm | Edited 4:37pm
Well so Wee, wouldnt be so sure bout them beeing from GB. Is this below your broker? In case it is, thats not GB broker, but Cyprus broker with branch in GB. Btw, I dont like Cyprus.

http://www.ufxmarkets.com/about-us/r...n-and-licenses
Quote:
UFXMarkets is operated by ReliantCo Investments Limited, a Cyprus Investment Firm (CIF) that is regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC). UFXMarkets operates under license number 127/10.
Edit: Nevertheless, so you dont get lost, UK branch is regulated by BoE. Needed to say company rules come from Cyprus.
"I know one thing, that I know nothing." Sokrates
  • #949,848
  • Jan 13, 2015 4:26pm Jan 13, 2015 4:26pm
Quoting OnlineAddict
{quote} Why tomorrow? There is nothing special about tomorrow...the US news will only follow the daily trend, so if we have bulls until then and the news are bad, bulls will gain power, if its bearish until then and the news are bad, it will be just a nice opportunity to load up more shorts on the spike. But if there is a bear or bull before tomorrow's news, nobody knows...so we can only work with the information we get until then.
I think rollercoaster will start tomorow with ECJ, but that's my opinion.
  • #949,849
  • Jan 13, 2015 4:40pm Jan 13, 2015 4:40pm
Quoting Tom_D_Trader
Well so Wee, wouldnt be so sure bout them beeing from GB. Is this below your broker? In case it is, thats not GB broker, but Cyprus broker with branch in GB. Btw, I dont like Cyprus. http://www.ufxmarkets.com/about-us/r...n-and-licenses Quote: UFXMarkets is operated by ReliantCo Investments Limited, a Cyprus Investment Firm (CIF) that is regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC). UFXMarkets operates under license...
yep thats them. so what does that mean exactly, would you consider them a "third world broker" already pretty sure i'm moving, just for the huge spread alone.
  • #949,850
  • Jan 13, 2015 5:32pm Jan 13, 2015 5:32pm
Quoting WeeMee
{quote} you will probably laugh even more, his advise was to take out the stop loss and let it ride. the theory being that it could not go lower then 1.1650 or close anyway, that if i give it enough time there is the upside waiting in the hundreds of pips. took the stop loss i had of 1.1740 off for about 5 minutes, then put it back, hehe. when i look at it coldly i see a bad trade, (counter big trend) that could just work out in the end. but even if he is right, why not buy in at a later stage when trend reversal has been confirmed. specially if...
I always trade w/o a SL. yes more risky but if you have enough in account to back you up you can withstand big drawdown and gain profit when it returns.
yes it is a counter trend trade and maybe not the best but if you buy lower you will bring your average breakeven down.
this EU has moved down so far so fast there is bound to be a significant retrace to get back to where you can get out with no loss or a profit.
  • #949,851
  • Jan 13, 2015 5:38pm Jan 13, 2015 5:38pm
Quoting WeeMee
{quote} yep thats them. so what does that mean exactly, would you consider them a "third world broker" already pretty sure i'm moving, just for the huge spread alone.
I cant judge quality of your broker, that is up to you to study all terms and conditions. All I did was very general research. Their UK branch is regulated by BoE. All I am saying is, basic rules of a company come from their parent company and I dont find companies in offshore centers trustworthy. For example I use Oanda, their base is regulated in US by CTFC and their branch in UK by BoE. Though that branch is Ltd., which I dont like, I trust em. But that is just personal opinion, there are many +- broker can offer. You have to value where you get most gains and pick your broker accordingly.
T
"I know one thing, that I know nothing." Sokrates
  • #949,852
  • Jan 13, 2015 5:58pm Jan 13, 2015 5:58pm
Good evening all, long time reader, first time poster. Looking to buying the pair tomorrow. Targeting 1.1853
A contrarian; I always disagree.
  • #949,853
  • Jan 13, 2015 6:04pm Jan 13, 2015 6:04pm
Quoting Purec
{quote} What's your tp on GU short ? I have also short at 1.5145 . Wanna see what happens tomorrow .
If everything works out, below 5100.
Everyone can see the chart, but only a few can actually read it.
  • #949,854
  • Jan 13, 2015 6:19pm Jan 13, 2015 6:19pm
Quoting Gr8tfullted
{quote} I always trade w/o a SL. yes more risky but if you have enough in account to back you up you can withstand big drawdown and gain profit when it returns. yes it is a counter trend trade and maybe not the best but if you buy lower you will bring your average break even down. this EU has moved down so far so fast there is bound to be a significant retrace to get back to where you can get out with no loss or a profit.
thanks for the feed back. i think trading without stop loss is not for me. i see myself more as the type that takes trades where the stop loss can be as tight as possible with a take profit never less then 1 to 1.5 risk/reward, trying to find deals where the pips to be gained in a normal days market movements are big. i just have to learn more about the patterns and how to interpret them. to be honest i'm actually enjoying studying up on this stuff. who would have thunk it.
  • #949,855
  • Edited 6:33pm Jan 13, 2015 6:20pm | Edited 6:33pm
Quoting Tom_D_Trader
Yes, am deleveraging slowly as PA approaches my targets. Those are in red circles (target + few pips)
Think I ll have to admit sooner or later I have overleveraged 1,177 area after that fake h1 break. These trades prevent me in entering higher, which I would like, possibly 1,181.

UJ could possibly pull us. Breaking lows again.
So I got rid of few trades so I was able to move SL whooping 5 pips up to 1,1793.
"I know one thing, that I know nothing." Sokrates
  • #949,856
  • Jan 13, 2015 6:21pm Jan 13, 2015 6:21pm
Quoting goldfinch
Good evening all, long time reader, first time poster. Looking to buying the pair tomorrow. Targeting 1.1853
good luck man, i'm gonna be happy if my tp at 1.1820 is reached to be honest.
  • #949,857
  • Jan 13, 2015 6:24pm Jan 13, 2015 6:24pm
Quoting USD-Bear
{quote} howdy kill, nice to see you again! All well but very quiet, been building longs on Chinese stocks as holding positions, bit of scalping on the DAX but nothing worth mentioning.
long Chinese stocks.you must earn much.by the way,in what way do you buy Chinese stock.cause it isn't open to foreigner.
A chart helps those who can read it.
  • #949,858
  • Jan 13, 2015 6:24pm Jan 13, 2015 6:24pm
Quoting WeeMee
{quote} thanks for the feed back. i think trading without stop loss is not for me. i see myself more as the type that takes trades where the stop loss can be as tight as possible with a take profit never less then 1 to 1.5 risk/reward, trying to find deals where the pips to be gained in a normal days market movements are big. i just have to learn more about the patterns and how to interpret them. to be honest i'm actually enjoying studying up on this stuff. who would have thunk it.
not too many newbies with a mindset like that, if you really put the time in you'll probably do quite well. Wishing all the best to you.
  • #949,859
  • Edited 6:55pm Jan 13, 2015 6:38pm | Edited 6:55pm
Quoting Tom_D_Trader
{quote} Think I ll have to admit sooner or later I have overleveraged 1,177 area after that fake h1 break. These trades prevent me in entering higher, which I would like, possibly 1,181. UJ could possibly pull us. Breaking lows again. So I got rid of few trades so I was able to move SL whooping 5 pips up to 1,1793.
I'm not worried about 1790/95 atm.

Both 1790 and the low will be attacked tomorrow if we stay here....there still hasnt been a stop run of the LL, and I'd imagine we've got quite a few bull stops sitting within reach now. Just my opinion, but we're in a damn good spot for the classic 80 pip whipsaw EUR is known for. Regardless, if you're antsy about your 1790 trades, it's my opinion you'll get another chance at the low to offload them. Typically, these bull stops have been fueling the further down move. Trading has been very obvious lately.....maybe that's a dangerous thing.

We havent retraced the 50% either....just the 32....50% may be the spike top...but now I'm just guessing. I'm still waiting on 85 You can throw my useless opinion in the trash bin with the rest- just my outlook.
  • #949,860
  • Jan 13, 2015 6:38pm Jan 13, 2015 6:38pm
Quoting DasPips
{quote} not too many newbies with a mindset like that, if you really put the time in you'll probably do quite well. Wishing all the best to you.
thanks DasPips,

lets hope you are right.

just got hold of this online: Essentials of Foreign Exchange Trading - by James Chen, it was recommended to me as a good start. hate reading on a screen though, need to see if i can find it locally. the worry i have about ever getting it, is due to the terrible statistics out there; 90% of people losing money on forex.
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