Vape and Lindgren you both got the system down now.......nice trades.....
- #1,182
- Feb 18, 2016 10:36am Feb 18, 2016 10:36am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
EU M1 scalp +69 (avg. +3.5) entered short from retrace above whole number as a key level on break of dragon and 200 ema as short term support.
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{quote} You have a pretty big spread, you should consider switching to a commissioned ECN broker if you want to become more profitable.
Vape and Lindgren you both got the system down now.......nice trades.....
- #1,184
- Feb 18, 2016 10:54am Feb 18, 2016 10:54am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
{quote} Thanks. I didnt realise it shot up to over 4 when i took the screen shot. Its usually below 2 on GJ. I have been swing trading for the past 7 years so spread has never been an issue, but after recently discovering Cigar Guys amazing scalping strategy you're right I should look for a different broker!!!.
NP, glad it is working for you. I can't discuss Brokers here but if you want information about a good ECN I am a IB and you can PM.....
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- #1,186
- Feb 18, 2016 10:58am Feb 18, 2016 10:58am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
{quote} Learning from the best
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- #1,187
- Feb 18, 2016 11:00am Feb 18, 2016 11:00am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
{quote} Thanks. I didnt realise it shot up to over 4 when i took the screen shot. Its usually below 2 on GJ. I have been swing trading for the past 7 years so spread has never been an issue, but after recently discovering Cigar Guys amazing scalping strategy you're right I should look for a different broker!!!.
Good to see that you're making some nice pips.....
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- #1,189
- Feb 18, 2016 11:32am Feb 18, 2016 11:32am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
For those that have heard the term but not seen the crooked MM's in action here is a typical PUMP N DUMP! The sneaky MM's are running PA quickly above the whole number to suck in buyers and then quickly running it down as evidenced here 3 times. Often the MM's will run this scheme while building for a run up ( or at times down just be vigilant in watching for other confirmations) while under the whole number. We never can know for sure, of course, but I've seen this many times.....be careful and don't get caught in a wrong way trade....just a heads up.....
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- #1,191
- Edited 12:46pm Feb 18, 2016 11:44am | Edited 12:46pm
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
This is an Off topic but a warning Last night FOMC News action Two image below. One is of a Market maker brokers another is true ECN broker Pair: EJ, TF M5 So, Careful from Market maker broker. {image} {image}
....Only ECN as all of the others trade against the retail trader.....the US Brokers will offer all kinds of cute FREE indicators and EA's to get you hooked and then.....watch the spreads and slippage.....Ouch!!...the trader will pay for that free stuff for sure and will not allow hedging........
I hope all traders know and understand that the MM's and Banks all work together behind the scenes in an attempt to empty the retail traders account so they keep re-loading. Money is made and can be made trading FX but all must understand the rules and us RETAIL traders we need every edge we can get. That is one reason to use hidden stops and take profits the Brokers do stop hunt as they can see where your orders are placed on their systems....it is not a fair game.....
If any trader thinks the FX market is regulated and all is fair, they should find a job as Walmart or some retail job...... Keep It Simple
- #1,194
- Feb 18, 2016 12:12pm Feb 18, 2016 12:12pm
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
EU M1 quick scalp +37 (avg. +3.7) Scalped a few pips on the MM's pump We'll see if this is their run they were building per my post #1189 or another dump.....
I hope all traders/scalpers who are new here are understanding by these many posted charts how powerful it is trading PVSRA to have the ability to get an insight into the mindset to what the MM's & Banks have in mind. Believe me this is powerful to have this understanding and knowledge and not just blindly follow squiggly lines for entries and exits with zero knowledge of how the FX market actually works.....
We'll see if this is their run they were building per my post #1189 or another dump.....I hope all traders/scalpers who are new here are understanding by these many posted charts how powerful it is trading PVSRA to have the ability to get an insight into the mindset to what the MM's & Banks have in mind. Believe me this is powerful to have this understanding and knowledge and not just blindly follow squiggly lines for entries and exits with zero knowledge of how the FX market actually works.....
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- #1,195
- Feb 18, 2016 12:22pm Feb 18, 2016 12:22pm
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
I missed the first bit of momentum, and like you said, I didn't want to get caught in the potential dump so when momentum died down I took profit for only +0.8. {image}
It appears that we are looking over each others shoulders and making the same trades.......the 2nd time for the same trade......
.
Careful, yes exactly it's about capital preservation to have money to play another day.....pips R pips.....
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- #1,196
- Feb 18, 2016 12:29pm Feb 18, 2016 12:29pm
{quote} Lindgren, It appears that we are looking over each others shoulders and making the same trades.......the 2nd time for the same trade......
Haha
- #1,197
- Feb 18, 2016 12:47pm Feb 18, 2016 12:47pm
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
{image}
Just noticed your EJ trade....nice catch and your use of the Fibo and 200 ema worked well for you.........
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- #1,198
- Feb 18, 2016 12:52pm Feb 18, 2016 12:52pm
{quote} saiffx, Just noticed your EJ trade....nice catch and your use of the Fibo and 200 ema worked well for you.........
This time it goes that level.
Thanks
- #1,199
- Feb 18, 2016 12:58pm Feb 18, 2016 12:58pm
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
{quote} When Price retrace from 38.2 fibo level, most of the time it reaches 161.8 level. This time it goes that level. Thanks
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- #1,200
- Feb 18, 2016 1:07pm Feb 18, 2016 1:07pm
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
Watch your wallets, now that London has left the party with their big Pump & Dumps, NY is continuing with these quickies......
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