My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Highest Open / Lowest Open Trade
- #8,242
- Oct 21, 2016 1:27pm Oct 21, 2016 1:27pm
- Joined Mar 2012 | Status: Trader | 14,314 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #8,243
- Oct 21, 2016 1:30pm Oct 21, 2016 1:30pm
- Joined Mar 2012 | Status: Trader | 14,314 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #8,244
- Oct 21, 2016 1:31pm Oct 21, 2016 1:31pm
- Joined Mar 2012 | Status: Trader | 14,314 Posts
Someone asked earlier this month
DOES THIS WORK?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #8,246
- Oct 21, 2016 1:34pm Oct 21, 2016 1:34pm
- Joined Mar 2012 | Status: Trader | 14,314 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #8,247
- Oct 21, 2016 1:38pm Oct 21, 2016 1:38pm
- Joined Mar 2012 | Status: Trader | 14,314 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #8,248
- Oct 21, 2016 1:54pm Oct 21, 2016 1:54pm
- | Commercial User | Joined Aug 2014 | 3,922 Posts
there is always, always another trade!!
- #8,249
- Oct 21, 2016 1:55pm Oct 21, 2016 1:55pm
- Joined Mar 2012 | Status: Trader | 14,314 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #8,250
- Oct 21, 2016 1:57pm Oct 21, 2016 1:57pm
- Joined Mar 2012 | Status: Trader | 14,314 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
{quote} Hi. Not judging, but trading USDCAD with 4 pips spread is just about insane, when there are brokers out there to find total costs between 1-1.5 pips max ( spread+comm). In liquid times cost might even be >1 pips... An awful lot of money to give away to your broker for the "privilage" to trade with them!! On another note, great thread TooSlow, a long time reader. Might just give a go for a 10 trade challenge next week. Possible on EURJPY or USDCAD, any advice what to pick?
If you know any brokers who have mentioned spreads for 100-200 eur deposits, that would be great
not to go off topic, i'd be glad if you can PM me with any suggestions
#noFomo
- #8,252
- Oct 21, 2016 2:47pm Oct 21, 2016 2:47pm
- | Commercial User | Joined Aug 2014 | 3,922 Posts
{quote} Nice to hear from you, profitfarmer. Which to pick depends on session. Asian session is EURJPY. EURJPY better in London session, too. Either trades well during NY session.
I feel since there is a counter element in this trading ( fading just seem to be my preference in my usual trading anyhow) i would think due the day's range better established i normally trade London/NY, focusing on the overlapping.
So, lets be it USDCAD then
there is always, always another trade!!
- #8,253
- Oct 23, 2016 4:18pm Oct 23, 2016 4:18pm
- Joined Mar 2012 | Status: Trader | 14,314 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #8,254
- Oct 23, 2016 4:19pm Oct 23, 2016 4:19pm
- Joined Mar 2012 | Status: Trader | 14,314 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #8,255
- Oct 23, 2016 5:02pm Oct 23, 2016 5:02pm
- Joined Mar 2012 | Status: Trader | 14,314 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #8,257
- Oct 23, 2016 8:32pm Oct 23, 2016 8:32pm
- | Joined Apr 2014 | Status: Trader | 1,900 Posts
out too soon 
but apparently holo will work with tight range and through the DO . . .
but apparently holo will work with tight range and through the DO . . . - #8,258
- Oct 24, 2016 12:26am Oct 24, 2016 12:26am
Hi hrvoje,
I think you are taking the wrong price when moving to B/E+1.
In a SELL trade, I see you are using a SELL STOP orders. (no problem there) As you are aware, the BID price will put you on a SELL trade.
ONCE the trade is ON, forget all about the BID price. ANY profit or TRADE STOP OUT will come from the ASK price.
SO, you cannot move to B/E+1 (or better) until the ASK price hits the 5 pip price.(not the bid price)
SO, even though your broker is ripping you off with such a disgusting spread, you still need to use the ASK price to make the move to B/E+1.
At least you will then have a 4 pip buffer to work with, as opposed to 1 pip.
(Suggestion?? Your situation is different with everyone else, because of your spread situation. You may want to look at getting to B/E+1 a little earlier??Perhaps when the ASK price hits the 3 or 4 pips level instead of 5 pips.?? This suggestion is, of course, something a bit "left of field", but you might like to try it out until you are in a position to find a better broker)
Of course, the situation reverses when you are BUYING. The ASK price will put your BUY STOP trade on. Once it's on, forget about the ASK price. It means nothing to you as far as affecting your STOP LOSS or your profit. In a BUY trade, the BID price will give you the signal when to move to B/E+1 (or better) (NOT the ask price) Hope that helps you. Please let me know if that is not clear.
Cheers
Michael
I think you are taking the wrong price when moving to B/E+1.
In a SELL trade, I see you are using a SELL STOP orders. (no problem there) As you are aware, the BID price will put you on a SELL trade.
ONCE the trade is ON, forget all about the BID price. ANY profit or TRADE STOP OUT will come from the ASK price.
SO, you cannot move to B/E+1 (or better) until the ASK price hits the 5 pip price.(not the bid price)
SO, even though your broker is ripping you off with such a disgusting spread, you still need to use the ASK price to make the move to B/E+1.
At least you will then have a 4 pip buffer to work with, as opposed to 1 pip.
(Suggestion?? Your situation is different with everyone else, because of your spread situation. You may want to look at getting to B/E+1 a little earlier??Perhaps when the ASK price hits the 3 or 4 pips level instead of 5 pips.?? This suggestion is, of course, something a bit "left of field", but you might like to try it out until you are in a position to find a better broker)
Of course, the situation reverses when you are BUYING. The ASK price will put your BUY STOP trade on. Once it's on, forget about the ASK price. It means nothing to you as far as affecting your STOP LOSS or your profit. In a BUY trade, the BID price will give you the signal when to move to B/E+1 (or better) (NOT the ask price) Hope that helps you. Please let me know if that is not clear.
Cheers
Michael
{quote} i sell when BID touches the price. i mean i put a stop order and it sells when BID touches it. so first i have a -4 pips gap of course. then when BID is on +5 or more i move the SL, so ASK is about 1 pip from it. am i doing it wrong?
Hi hrvoje, I think you are taking the wrong price when moving to B/E+1. In a SELL trade, I see you are using a SELL STOP orders. (no problem there) As you are aware, the BID price will put you on a SELL trade. ONCE the trade is ON, forget all about the BID price. ANY profit or TRADE STOP OUT will come from the ASK price. SO, you cannot move to B/E+1 (or better) until the ASK price hits the 5 pip price.(not the bid price) SO, even though your broker is ripping you off with such a disgusting spread, you still need to use the ASK price to make the...
thanks for the reply!
I was thinking of doing something like that, in fact my first trade was traded that way. Then I realized i need almost double the profit to move the first SL :/ And taking in consideration how easily my first SL (on the high or the low) could be taken out I decided not to trade with that broker any more. I feel like I'm losing the edge by doing so and trying to bypass that spread 
so I'll trade off a demo account with the different broker for the rest of the challange and then possibly switch to live again. I'll keep in mind what you said and move with ASK price on short trades and vice versa, which will be much easier with 0.2 spread 
BTW your explanation of the strategy with images helped a lot!
#noFomo
- #8,260
- Oct 24, 2016 5:41am Oct 24, 2016 5:41am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
CHFJPY Weird pair and a narrow range - but heads up...
