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  • #993,321
  • May 26, 2015 5:16pm May 26, 2015 5:16pm
Quoting ill_be_back
{quote} I think AU will make a New LOW
MADE! XD
Fix up, trade sharp ...
  • #993,322
  • May 26, 2015 5:28pm May 26, 2015 5:28pm
Quoting bladerogers
Anyone seeing 1.0855 hit in the last hour? My broker shows a closed position due to stop loss hit, and the lowest I see is 1.0863 in the past hour.
One thing that happens all the time is they widen your spread so you get stopped out. So if the spread spiked from like 1 or 2 pips to 5 or 10 you get stopped out.
I am not saying they did this to you on purpose but if their spread widened even for a second and you are close to you stop loss than it kicks you out.
  • #993,323
  • May 26, 2015 5:47pm May 26, 2015 5:47pm
Quoting FxIpMan
{quote} One thing that happens all the time is they widen your spread so you get stopped out. So if the spread spiked from like 1 or 2 pips to 5 or 10 you get stopped out. I am not saying they did this to you on purpose but if their spread widened even for a second and you are close to you stop loss than it kicks you out.
Yep, another member just pointed that out to me via PM. I was not aware of that. it would have been an 8 pip spread increase, and it looks like I missed out on my trade setup to boot...though it's really only reached the top of the resistance level, so anything can still happen. I just want to crush something with my fists now. God damn it.
  • #993,324
  • May 26, 2015 5:48pm May 26, 2015 5:48pm
Quoting fabao
The euro today was tense
Sorry to hear it was not good for you today.


Which way did you trade?
  • #993,325
  • May 26, 2015 5:53pm May 26, 2015 5:53pm
Quoting bladerogers
{quote} Yep, another member just pointed that out to me via PM. I was not aware of that. it would have been an 8 pip spread increase, and it looks like I missed out on my trade setup to boot...though it's really only reached the top of the resistance level, so anything can still happen. I just want to crush something with my fists now. God damn it.
Blade i feel your pain! I have been also bit by this many times in the past so I go into a trade now days with either an extra cushion of pips to compensate or I take my chance but I know up front the risk so it does not as bad. Spread get volatile mostly around news time with most brokers but really the broker does what he wants when he wants.
  • #993,326
  • May 26, 2015 6:22pm May 26, 2015 6:22pm
Still short and holding, as I've been saying for a week now, up 400pips on initial position, around 700 in total with adds.

Still holding, this may consolidate (which would be good), but I'm saying it again, I think yearly lows are going to happen and then perhaps even a push further.

Of course, it all depends on how the Euro Bank acts, if they act, and what happens with Greece, but as that stuff is out of my control, I will just let this ride.

For those thinking long, ask yourself this: If you were a trader at a hedge fund or institution with a few billion to play with, would you long the Euro? Sure, there may be technical reasons here and there to get a few pips on a retrace, but would you put a billion dollars into a long position? Is there any opportunity for profit there? If the answer is yes, and you see the Eur/usd at 1.14 again at the end of the year then make a play ... but if you can't see that happening perhaps you should take a good look at your position.
  • #993,327
  • May 26, 2015 6:41pm May 26, 2015 6:41pm
Quoting scottik187
Still short and holding, as I've been saying for a week now, up 400pips on initial position, around 700 in total with adds. Still holding, this may consolidate (which would be good), but I'm saying it again, I think yearly lows are going to happen and then perhaps even a push further. Of course, it all depends on how the Euro Bank acts, if they act, and what happens with Greece, but as that stuff is out of my control, I will just let this ride. For those thinking long, ask yourself this: If you were a trader at a hedge fund or institution with a...
glad to hear you are in profit
  • #993,328
  • May 26, 2015 6:42pm May 26, 2015 6:42pm
Quoting scottik187
Still short and holding, as I've been saying for a week now, up 400pips on initial position, around 700 in total with adds. Still holding, this may consolidate (which would be good), but I'm saying it again, I think yearly lows are going to happen and then perhaps even a push further. Of course, it all depends on how the Euro Bank acts, if they act, and what happens with Greece, but as that stuff is out of my control, I will just let this ride. For those thinking long, ask yourself this: If you were a trader at a hedge fund or institution with a...
OK, so all the masses (us retail traders) are short then, who's on the other side of trade? Someone with more money than me, the buyer looking to sell higher. Making us feel the pain. I'm flat now, I just look for short term trades and just can't seam to stay in a trade more than 20 to 200 pips.

Anyway, good luck with your trades and wish you well.
  • #993,329
  • May 26, 2015 6:57pm May 26, 2015 6:57pm
Quoting fxtyrant
{quote} but like i said the trades i mirrored to the live account they still held drawdown on my live account like it did on the demo. so your argument isnt valid. the trades i close in loss are strategies that is not on the demo. i run 2 different strategies on my live account. 1. M-Series (standard) the demo account where i completely mirror all my trades so drawdown on demo is the same drawdown on the live and if demo is 100% win, the the same strategy on the live account is also 100% win. 2. Algos i developed to trade breakouts on my live account....
I've made a point of staying out of these arguments on here, but I just want to say that I appreciate you explaining how you've got your demo vs live accounts set up. Makes things a lot clearer... thanks.
  • #993,330
  • May 26, 2015 6:59pm May 26, 2015 6:59pm
Quoting disegnosys
{quote} OK, so all the masses (us retail traders) are short then, who's on the other side of trade? Someone with more money than me, the buyer looking to sell higher. Making us feel the pain. I'm flat now, I just look for short term trades and just can't seam to stay in a trade more than 20 to 200 pips. Anyway, good luck with your trades and wish you well.
Thanks for the support.

And in answer to what you wrote: retail traders aren't the masses at all, institutions are the masses. We are the little guys who ride on the coat-tails of the big boys or get steamrolled trying to stand against them. A pair doesn't fall 400 pips in a week because retail traders are shorting it, it falls because there's a serious change in sentiment.

Perhaps the whole run up to 1.14 was simply big guys absorbing little guys buy orders and positioning themselves for a run down? Who knows. But you gotta think about it in terms of billions of dollars worth of contracts, and about how these massive institutions can move themselves into and out of positions of such size.
  • #993,331
  • May 26, 2015 7:01pm May 26, 2015 7:01pm
Quoting dogytrader
Hi fx, Do you plan to take any position in coming days.. we missed a lot of pips And waiting for your con for the twitter acc. {quote}
better to miss a position than to lose in one....
dont feel rushed into a trade, thats how you make big mistakes.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #993,332
  • May 26, 2015 7:19pm May 26, 2015 7:19pm
Quoting bladerogers
{quote} Yep, another member just pointed that out to me via PM. I was not aware of that. it would have been an 8 pip spread increase, and it looks like I missed out on my trade setup to boot...though it's really only reached the top of the resistance level, so anything can still happen. I just want to crush something with my fists now. God damn it.
There's a lot of good reasons to use a S/L.... but this is an example of why it's NOT always a good idea.
  • #993,333
  • May 26, 2015 7:22pm May 26, 2015 7:22pm
Quoting scottik187
{quote} Thanks for the support. And in answer to what you wrote: retail traders aren't the masses at all, institutions are the masses. We are the little guys who ride on the coat-tails of the big boys or get steamrolled trying to stand against them. A pair doesn't fall 400 pips in a week because retail traders are shorting it, it falls because there's a serious change in sentiment. Perhaps the whole run up to 1.14 was simply big guys absorbing little guys buy orders and positioning themselves for a run down? Who knows. But you gotta think about...
Few can wrap their mind around how big the Forex market really is!
$5.5 Trillion is just beyond comprehension
And the average Joe does not even Know what Forex is, but most people have heaed about Dow jones or NY stock exchange and when compared to Forex they are like a flea on a dog. Yet day in and day out the news makes headlines about those markets while a Forex giant walks among us unnoticed.
  • #993,334
  • May 26, 2015 7:36pm May 26, 2015 7:36pm
Quoting FxIpMan
{quote} Few can wrap their mind around how big the Forex market really is! $5.5 Trillion is just beyond comprehension And the average Joe does not even Know what Forex is, but most people have heaed about Dow jones or NY stock exchange and when compared to Forex they are like a flea on a dog. Yet day in and day out the news makes headlines about those markets while a Forex giant walks among us unnoticed.
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  • #993,335
  • May 26, 2015 7:37pm May 26, 2015 7:37pm
Quoting FxIpMan
{quote} Few can wrap their mind around how big the Forex market really is! $5.5 Trillion is just beyond comprehension And the average Joe does not even Know what Forex is, but most people have heaed about Dow jones or NY stock exchange and when compared to Forex they are like a flea on a dog. Yet day in and day out the news makes headlines about those markets while a Forex giant walks among us unnoticed.
Not only how big the whole market is, but how big the players in it are.

Imagine you're a hedge fund and want to take a $1billion position short the Eur/Usd, but only want to short it above 1.1250 because that's good value to you. You need to find enough liquidity above that level to take those contracts without manipulating the or effecting the price. Consider also that if you've seen the opportunity then a few others probably have, and they might have bigger pockets that you and be taking even bigger positions.

On the opposite end of the trade, you can't just unload all those contracts at once, you need to slowly let them go, which takes time and a lot of strength/buyers to sell your position into.

When do these institutions try and move their positions? When liquidity is the greatest, market opens, and big news. When you start seeing price around news like yesterday (positive USD news = lower EURUSD) start moving very slowly or against the USD (positive USD news = higher/choppy/stable EURUSD) then I assume that institutions are unload volume into the market while the sentiment can adsorb it.
  • #993,336
  • May 26, 2015 7:55pm May 26, 2015 7:55pm
Quoting FxIpMan
{quote} ... not really quoting you ...
Hi, next time Dano posts a chart, yould you please comment on it with a few sentences ? I'd only need this for a few charts to get an idea what he is posting. The chart alone is not good enough for me ATM.

Best, verified.
  • #993,337
  • May 26, 2015 8:05pm May 26, 2015 8:05pm
Quoting verified
{quote} Hi, next time Dano posts a chart, yould you please comment on it with a few sentences ? I'd only need this for a few charts to get an idea what he is posting. The chart alone is not good enough for me ATM. Best, verified.
True. Though a picture speak a thousand words, but in trading what matter most to majority are 2 words (long or short). Everyone can put on a similar messy chart and mislead others.
The only winner is the one who survive the longest...
  • #993,338
  • May 26, 2015 8:09pm May 26, 2015 8:09pm
Quoting kinspk
{quote} True. Though a picture speak a thousand words, but in trading what matter most to majority are 2 words (long or short). Everyone can put on a similar messy chart and mislead others.
Intraday only.
  • #993,339
  • May 26, 2015 8:13pm May 26, 2015 8:13pm
Quoting scottik187
{quote} Thanks for the support. And in answer to what you wrote: retail traders aren't the masses at all, institutions are the masses. We are the little guys who ride on the coat-tails of the big boys or get steamrolled trying to stand against them. A pair doesn't fall 400 pips in a week because retail traders are shorting it, it falls because there's a serious change in sentiment. Perhaps the whole run up to 1.14 was simply big guys absorbing little guys buy orders and positioning themselves for a run down? Who knows. But you gotta think about...
This is very true. Retail traders' money doesnt really matter much in how market operate at all. Even if all retail traders' trade sum up to a trillion, our trades dont really translate to any transaction in the interbank, as we are just trading in a private casino in the names of several retail brokers.

To my personal opinion, big players are government and central banks, while small players are instituitions.
The only winner is the one who survive the longest...
  • #993,340
  • May 26, 2015 8:13pm May 26, 2015 8:13pm
Quoting kinspk
{quote} True. Though a picture speak a thousand words, but in trading what matter most to majority are 2 words (long or short). Everyone can put on a similar messy chart and mislead others.
Myself, I like to keep my charts really simple...

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