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  • #134,081
  • Apr 22, 2015 4:06am Apr 22, 2015 4:06am
Quoting sisse
For the european session tracking 1.076x as the only level in play for the opening range. sisse
We run soft stops at the intraday highs in the breach 1.076x unlocking the never ending 1.082x level. Choose your poison time in the euro for the mini swing play until NY. GL all trying or planning to trade it ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #134,082
  • Apr 22, 2015 4:43am Apr 22, 2015 4:43am
Quoting kenfen69
Any correlation between USA/Mexico... and the EU/Med Sea? Serious thoughts welcome...don't be shy. I'm fascinated by it.
Indeed a faszinating topic, and a very serious one: till today more refugees drowned in the Med this year (more than 1700) than when HMS Titanic sunk (1495).
There is a lot of interesting data from UNHCR, Eurostat, Department of Homeland Security on legal and illegal immigration, but I'd have to dive deeper to find meaningful stats for another perspective on correlation. Only a quick view: there were 571k asylum applications in the EU in 2014, 135k in the US. But 420k 'aliens' were 'apprehend' by the US border control in 2013.

So from my subjective point of view: its a big tragedy. Of course people want a better live, and as long as there is this big difference in standards of living, there is immigration pressure. Despite the fact that there is desert and 'a fence' between the US and Mexico I guess that border is nowadays less dangerous than the way over the Med, especially as the traffickers use old and not seaworthy boats with the idea to get rescued and taken to Italy/Malta once they are in international waters. From a humanitarian point of view you have to pick up the refugees, but of course by doing this the attrativeness remains high. The only way to discourage this route would be to 'defend' the entire southern coastline of the Med, simply impossible (and coldhearted).

The tragedy doesn't end there, perspectives are poor even if refugees make it to the EU. Germany is were most of the EU immigrants end up (although we have a much lower rate of immigrants/population like for example Sweden), and we don't know what to do. As the labour market is opening up it seems that better educated people from e.g. Syria (which get assylum and legal status) have a much better chance to integrate themselves into society than in former times. But the real tragedy is uneducatd and illegal immigrants. There is currently no perspective... a friend of mine has helped a guy from Ghana with a sleepingplace in the workshop and I talked to him some days ago. He is somehow getting by for two years now but doesn't really speak german and only some months ago started learning to read and write in English. How can he keep up in a modern society? Now the authorities took his passport, he has to go back to Italy (first port of call, so to say) to get it back. He'll try to get back to Germany, because he doesn't know anybody there... No perspective.

Quoting sisse
I would like to hear your inputs for what functionality a modern charting platform should have .... I am dead serious about the startup i mentioned to Ken...
My two cents: MT4 with all its flaws is at least a well known and popular system, it will be hard to beat because of the huge amount of Indis and EA's that have been done for it. The way to go might be to have 'communal' MT4, to just put the charting abilities of it in a virtual meeting room thats private.
Fail better.
  • #134,083
  • Apr 22, 2015 4:58am Apr 22, 2015 4:58am
Quoting sisse
{quote} We run soft stops at the intraday highs in the breach 1.076x unlocking the never ending 1.082x level. Choose your poison time in the euro for the mini swing play until NY. GL all trying or planning to trade it ... sisse
Sisse, what's your view on how the Greek situation affect DAX? I've heard opinions that if Greece defaults, the money will flow out of Greece and flow into Germany, and DAX will go up, plus DAX and EUR are negatively correlated. However I wonder how Greece default effects Germany, at least in the short term. Afterall it is their tax payers money.
Or if I formulate the question better, how does Greece default influence the European equity market in general?

Thank you!

Btw, I suspect that in a larger time frame, EU wants to use Greece headlines and FOMC next week to break into the highs, before it goes all the way down to close parity. I wonder if 1.12x level is realistic though, that is the level of the 1st week of March, QE started the second week. Put aside US rate hike, QE alone already weighs more and more heavily on the EUR as the days go by.
  • #134,084
  • Apr 22, 2015 6:22am Apr 22, 2015 6:22am
Quoting LarryDarrell
...My two cents: MT4 with all its flaws is at least a well known and popular system, it will be hard to beat because of the huge amount of Indis and EA's that have been done for it. The way to go might be to have 'communal' MT4, to just put the charting abilities of it in a virtual meeting room thats private.
I see your point but that doesn't justify why 90% of retail has to be severely handicap using technology not updated in the last 15/20 years. I am referring basically at the charting part. I don't have experience in terms of automatic executions and etc but still look flaw in that side too.

Sure you can drive a "LADA" from the 70s to move from point A to B but why on earth you are going to use it if you would have a modern alternative.

Look for me MT4/5 epitomise everything that is wrong with retail forex. Brokers imposed a crappy platform, you visit the EA and indicators and looks like one of those WWI "graveyards" in Belgium with every single possible dead indicator/EA marking another fatality in the business....

I don't use indicators but out of common sense 90% of them in MT4/5 (including EAs) are just plain garbage. I pretty sure that some very few traders that use it for automatic trading execution and are successful but honestly i think most of the people using Mt4/5 are just there because they don't have an alternative ....they are so use to drive a "LADA" that they just keep using per default...

Call me exaggerate but I would never ever execute a trade in Mt4/5 if I have too (worst an automatic system) and i would rather use FF charting (ok that is probably too much) rather than the charting capabilities of that platform. Its just flaw in every single angle... je je je...enough with the rant ...

Quoting Shunyi
{quote} Sisse, what's your view on how the Greek situation affect DAX? ....Btw, I suspect that in a larger time frame, EU wants to use Greece headlines and FOMC next week to break into the hhighs, before it goes all the way down to close parity. I wonder if 1.12x level is realistic though, that is the level of the 1st week of March, QE started the second week. Put aside US rate hike, QE alone already weighs more and more heavily on the EUR as the days go by.
For this week? Noise for a risk leg to the lows.
For the next few weeks? Two options:

  1. Kicking the can one more time with some kind of agreement/extension/etc which implies a non event.
  2. A mini default a proper extended RISK off leg until the map is clear and see if the contingency plans work. If they do, ride the PIG (Dax) via more QE. If it doesn't panic and sell the hell out of everything until CBs/governments step in and set a floor....

For the euro, parity only comes via Hikes play or via Greece collapse not before. I hope it helps.

sisse

Pending conversations? PM for a chat...I am mainly in OTM now
  • #134,085
  • Apr 22, 2015 6:46am Apr 22, 2015 6:46am
Quoting sisse
So hatch, do you really think MT4/5 is remotely acceptable as charting platform?. I mean for a person who relies so much on charting for trading, I'm a bit confuse about your comments on an alternative platform?.... I would like to hear your inputs for what functionality a modern charting platform should have .... I am dead serious about the startup i mentioned to Ken...
That's not what I said. We were talking about tradingview, not MT4/5. That project will probably even rock, if pitched in the right way, but it's not my cup of tea.
  • #134,086
  • Apr 22, 2015 6:55am Apr 22, 2015 6:55am
Quoting sisse
Sure you can drive a "LADA" from the 70s to move from point A to B but why on earth you are going to use it if you would have a modern alternative.
There you have it, all in one sentence. The Lada is manageable, while the "modern alternative" is depending on others. Try to repair the modern alternative and compare that to lying below the old trusted Lada.
  • #134,087
  • Apr 22, 2015 7:03am Apr 22, 2015 7:03am
Quoting LarryDarrell
a friend of mine has helped a guy from Ghana with a sleepingplace in the workshop and I talked to him some days ago. He is somehow getting by for two years now but doesn't really speak german and only some months ago started learning to read and write in English. How can he keep up in a modern society? Now the authorities took his passport, he has to go back to Italy (first port of call, so to say) to get it back. He'll try to get back to Germany, because he doesn't know anybody there... No perspective.
He knows you and your buddy here. With respect to the language barrier: Treat him like a child, show him objects and name them, and it'll take him a year to be understood. Been there already, takes time and effort, but there is so much in it...
  • #134,088
  • Apr 22, 2015 7:07am Apr 22, 2015 7:07am
Quoting sisse
I am referring basically at the charting part.
I don't have much experience with other software, just had a look at some broker-products (dukas, fxcm, whs), not enough to really have an opinion. And I cannot say anything in regards to execution, etc., other than the conventional wisdom that MT4 sucks...

But the charting part of MT4 seems alright for me, you can draw a lot of stuff, and that (+ its the free software for retailers) is part of the popularity.

I think that you are right (Lada, fatality, garbage), but I was thinking from the business proposition point of view: MT4 is popular because it is used by so many people . A bit like every pc I get is with dos/windows already, so I make do... and look: there is lots of software for it. But I agree, times are changing.

So maybe another point: make it for linux. A lot of people use MT4 with wine in linux, probably even worsening the overall performance. Make it open source. (which probably spoils pharm0rs getrichquick-scheme...)
Fail better.
  • #134,089
  • Apr 22, 2015 7:10am Apr 22, 2015 7:10am
Quoting Mr Hatch
{quote} He knows you and your buddy here. With respect to the language barrier: Treat him like a child, show him objects and name them, and it'll take him a year to be understood. Been there already, takes time and effort, but there is so much in it...
I actually proposed that, but maybe with the wrong tone. Will do again.
Fail better.
  • #134,090
  • Apr 22, 2015 7:11am Apr 22, 2015 7:11am
Quoting LarryDarrell
A lot of people use MT4 with wine in linux, probably even worsening the overall performance. Make it open source. (which probably spoils pharm0rs getrichquick-scheme...)
Open-source is hardly profitable, that's why there's no native application.
  • #134,091
  • Apr 22, 2015 7:14am Apr 22, 2015 7:14am
Quoting Mr Hatch
{quote} There you have it, all in one sentence. The Lada is manageable, while the "modern alternative" is depending on others. Try to repair the modern alternative and compare that to lying below the old trusted Lada.
If they will produce Lada Samara with the same materials they used in 1990 with same engine and added ABS and airbags, I am ready to buy new one
  • #134,092
  • Apr 22, 2015 7:18am Apr 22, 2015 7:18am
Quoting sisse
{quote}......................
I would have to agree 100% on the charting MT4. It's simply a default for me, because my fibs are set up in it. I come from using thinkorswim, which as far as I've seen is the most powerful charting platform in the world- if not overly powerful (do you really need a shotgun to kill a fly?).

If I were to throw my two cents in there, a native chat inside the platform with the ability to share real-time charts would be awesome. Possibly a "white board" where people can draw on each other's charts in real time, think of a teacher correcting a mistake on a paper. Obviously for some of us the fib tool would need to be fully customizable, ie as many lines/divisions as possible, ability to change each individual line to dotted/thick/etc, and colors.

A user friendly coding "help" readme would be awesome as well. I'd imagine for people like magix, the ability to code your own EA's would be a make or break.

for the American's, it's best if we trade in "units"....allows a bit more flexibility concerning FIFO (thanks hatch) - so maybe an option to choose your trading denomination
  • #134,093
  • Apr 22, 2015 7:26am Apr 22, 2015 7:26am
Also- you'll gain a lot of the MT4 crowd by allowing for a simpler version, mirroring (as much as legally possible) MT4, which is what people are used to. Then for others and advanced tab.

Also perhaps a tracker tab, to track your trading stats (like myfxbook or trade explorer)- does away with the need and risk of a third party and can all be done native in the application

Larry, I got your PM, but for some reason I am unable to respond to PMs from this computer, nor am I able to edit a post more than twice. I'll get to you when I'm home
  • #134,094
  • Apr 22, 2015 7:47am Apr 22, 2015 7:47am
Quoting sisse
{quote} I see your point but that doesn't justify why 90% of retail has to be severely handicap using technology not updated in the last 15/20 years. I am referring basically at the charting part. I don't have experience in terms of automatic executions and etc but still look flaw in that side too. Sure you can drive a "LADA" from the 70s to move from point A to B but why on earth you are going to use it if you would have a modern alternative. Look for me MT4/5 epitomise everything that is wrong with retail forex. Brokers imposed a crappy platform,...
Although I haven't got your experience trading and reading/analysing charts, I still can feel the backwardness in MT4 (that's what I use because it's the only option from my broker). However, I've never seen any alternative to it, so I don't know what you mean by
Quote
Sure you can drive a "LADA" from the 70s to move from point A to B but why on earth you are going to use it if you would have a modern alternative.
Poor us, can't imagine how a modern alternative can be. Especially when you were referring to the charting part. Maybe a java charting can deliver a more modern charting alternative but still I'm not sure how that would impact the whole process.

Also, and this may or may not be relevant, MT4 does not give you the best environment to practice as a beginner for 2 reasons:
- First, with MT4, a beginner gets overwhelmed by the infinity of indicators out there created for it. Which makes it really easy for scammers to fool beginners because all their magic boxes are designed for MT4. The result is that instead of learning and practicing, beginners keep trying those EAs one after another. (I personally spent 2 months trying them until I was determined there is no alternative to understand it yourself. Lucky I didn't pay a penny on any of them.)
- Second, You can't do forward testing in MT4. All data are there and everything you might test will have the advantage of the hindsight. Which, in my opinion, is a total waste of time. The proper way I can think of to practice is to have the option to replay the market from point A in history, with previous data so can analyze and start executing your strategy and put it in a real test. Sure you can do that in MT4 starting from now for example, but within 2 months of the ability to forward testing historical data, can more or less test your strategy from say 1995 till now. Which will definitely give you the utmost feeling of the market you are testing, and with no hindsight.

If a new software can deliver those options, I'm sure it will get the attention of all serious traders, which will lead the amateurs later on to start using it.

Just my thoughts and I'm really interested in following any progress with it.
  • #134,095
  • Apr 22, 2015 8:32am Apr 22, 2015 8:32am
Anyone actually doing any trading in here?

I'm not

Wow- not a bad little read. Well, bad for all the right reasons I suppose.

http://www.upworthy.com/everyone-wai...-watch-it-here
  • #134,096
  • Apr 22, 2015 8:36am Apr 22, 2015 8:36am
Quoting sisse
{quote} I would like to hear your inputs for what functionality a modern charting platform should have .... I am dead serious about the startup i mentioned to Ken
1-Day starts should be adjustable with choice of user. I want to switch day start by only assigning day start hour in terms of GMT and to see what London or NY or Tokyo user see when they put for example pivot indi.
2-Chart TF must be flexible.(If someone wants 3 hrs, 12 hours or quarterly chart, it should be converted easily without chart converting indi and without offline charts).
3-It must support multitimeframe indicators.
4-It must have unlimited level addition in fib tool along with defaults one.
5-It must have ability to use multi processor to overcome bottle neck of mt4 cpu usage.
6-It must have 64 bit version to fully utilize more than 4G Ram.
7-It must have easy programming language to learn.
8-It must have more than built in functions for programming compared to mql4.

those are the first ones come to my mind.
  • #134,097
  • Apr 22, 2015 9:16am Apr 22, 2015 9:16am
Quoting sisse
{quote} Call me exaggerate but I would never ever execute a trade in Mt4/5 if I have too (worst an automatic system) and i would rather use FF charting (ok that is probably too much) rather than the charting capabilities of that platform. Its just flaw in every single angle... je je je...enough with the rant ... {quote}
Second that absolutely. Never ever trade via MT4/Mt5.

Charting for some purpose may be OK, or in my case delivering some data into Excel.

Would I not be so lazy, I already would have learned to use and program some API stuff to make MT4 obsolete for me at all.
  • #134,098
  • Apr 22, 2015 9:32am Apr 22, 2015 9:32am
Don't trade with MT4/Mt5?



This is total Bullshit!

It's the poor carpenter, who blames his tools.

Are there better options out there?
or
Just other options?

I've traded both platform and other charting SW/platform and when I first started with Meta4, wasn't really all that excited over it. After a little getting used to it, it ain't so bad. Sure, there are issues...but if anybody thinks that they can be successful with another trade station/utility/tool and are not currently with MT4...I got some bad news for ya!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #134,099
  • Apr 22, 2015 9:43am Apr 22, 2015 9:43am
My girlfriend is outside teasing bee's....darwanism at its finest...

took a couple shorts on EU at 0741 b/c of 1.07469, 9 pip stop
  • #134,100
  • Apr 22, 2015 10:52am Apr 22, 2015 10:52am
Quoting kenfen69
{quote} Speaking of...Gold...half off at +$5.00. Looking a little wick-ish on M15... {image
Flat that...
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