outthislife
Well-Known Member
jonnycab said:
:thumbsup: really good week.
what do you "do", mentally or mechanically, on CT signals w/ the EMA touches? i find they work just often enough to fuck w/ me but not often enough to take
Is the JPY being re-priced by the BOJ today (according to ICT)?
- Thread starter PacnyTuH0
- Start date
:thumbsup: really good week.
what do you "do", mentally or mechanically, on CT signals w/ the EMA touches? i find they work just often enough to fuck w/ me but not often enough to take
sqa said:
Yeah man, I want some Pepper action
What are our reliable options in the states anyway, SQA? Anything that's reliable and allows less than a 2k deposit for margin accounts? I mean I guess there's Oanda but, I've heard some things... Maybe it's not a big deal with a small account to start things off though.
If you're sub-2k (or just want your first account to NOT be 2k USD), it's pretty much Oanda or MBTrading. Though I think a FXCM whitelabel was offering 500 USD account openings, but it's been a while. Granted, MBTrading seems to think every account is a Stock DayTrading account, so they wanted a huge amount in liquid funds just to open a $400 USD FX account.
Your option is Oanda.
Oanda's actual reputation is good, but they're a pure market maker. Which means there are big, bold letters explaining they can wipe out your account at any time because the spread goes to infinity. (People never actually read the Risk Disclosures.) But the main things to know with them:
1) You can't trade the FOMC or NFP prints. Most of the majors will get to 20+ pip Spreads for about 15-30 seconds. Crosses will get higher.
2) They have a whole host of exotics. Never trade those Crosses. Or even Minor/Minor crosses. Spreads will randomly go to 100+ during any news event.
If you remember that, I've had a good experience with them. I actually trade through their fxTrade client directly, but do my charting in MT4. The fxTrade client allows you to trade 1 unit of currency. Not of risk, of actual currency on their Order Book. So you can really fine-tune your risk exposure. But, I wouldn't stick with them once you're ready for a larger account.
Your option is Oanda.
Oanda's actual reputation is good, but they're a pure market maker. Which means there are big, bold letters explaining they can wipe out your account at any time because the spread goes to infinity. (People never actually read the Risk Disclosures.) But the main things to know with them:
1) You can't trade the FOMC or NFP prints. Most of the majors will get to 20+ pip Spreads for about 15-30 seconds. Crosses will get higher.
2) They have a whole host of exotics. Never trade those Crosses. Or even Minor/Minor crosses. Spreads will randomly go to 100+ during any news event.
If you remember that, I've had a good experience with them. I actually trade through their fxTrade client directly, but do my charting in MT4. The fxTrade client allows you to trade 1 unit of currency. Not of risk, of actual currency on their Order Book. So you can really fine-tune your risk exposure. But, I wouldn't stick with them once you're ready for a larger account.
jonnycab said:
Sounds ok, only rule will be that the emphasis is on the blank side.
No ego puffing , found out a long time ago that the market doesn't give a rat's ass about ego.
Off to sunny Spain for next couple of weeks, so on return with sun tan and shades I'll give it a go.
In the meantime, I'll stay long the S&P, went long 3 days ago because of some crap, or maybe because I am some kind of nutter - who knows?
Lol, must stop referring to this stuff that I've been exposed to for slightly over 40 years as crap, hmmm.. then again maybe that's the reason for the smell all this time!!
outthislife
Well-Known Member
Peterma said:
Take pics! I wanna visit soon
Out, check out Torrevieja, near Alicante - the absolute best part of Spain.
Used to take the camera everywhere, many times ran out of film. then came the latest gizmo, had to have one for a visit to Paris, this thing stored the photos to a card, actually had 2 AA batteries inside - wow - this was unreal.
24 photos later, memory full - you guys don't know you how much you have
Do visit.
Used to take the camera everywhere, many times ran out of film. then came the latest gizmo, had to have one for a visit to Paris, this thing stored the photos to a card, actually had 2 AA batteries inside - wow - this was unreal.
24 photos later, memory full - you guys don't know you how much you have
Do visit.
sqa said:
Hmm, roger that. Well as long as their market maker BS isn't a common issue during non-big-news, it's not a big deal I guess, especially with a little $100 account. Hopefully the feeds are fairly honest as well?
Just want to check out the deep-end a little, and will eventually open a legit bigger account elsewhere.
outthislife
Well-Known Member
Chrisrocs said:
doit.jpg
Peterma said:Out, check out Torrevieja, near Alicante - the absolute best part of Spain.
Used to take the camera everywhere, many times ran out of film. then came the latest gizmo, had to have one for a visit to Paris, this thing stored the photos to a card, actually had 2 AA batteries inside - wow - this was unreal.
24 photos later, memory full - you guys don't know you how much you have
Do visit.
For sure, thanks for the tip. I look forward to it. Was actually considering moving to Barcelona.. 5hr drive to Torrevieja hmmm
Nope, done that one, check out Vuelling.com, much cheaper that the train and much faster.
Barcelona is ok, Torre is big time real Spain, and you cannot rip off the locals, check out some of the forums there such as torrevieja.co.uk, or same.com - they are the ex-pats, mostly out in the urbs, but the city is the place to be.
It happens that I can speak a little Francais, but useless at Spanish, in Torre no one cares, they just smile and help.
The big thing is the eating out - the French think they have that cornered, wait until they experience Torre
Barcelona is ok, Torre is big time real Spain, and you cannot rip off the locals, check out some of the forums there such as torrevieja.co.uk, or same.com - they are the ex-pats, mostly out in the urbs, but the city is the place to be.
It happens that I can speak a little Francais, but useless at Spanish, in Torre no one cares, they just smile and help.
The big thing is the eating out - the French think they have that cornered, wait until they experience Torre
rod178
Well-Known Member
jonnycab said:ctrader is excellent, very slick.
the only thing I wish they'd do is add range bars...
everything else I need is there by default or is available via their calgo indicators section.
my tools and charting are simple, no additional bells and whistles required... (i havent ventured into their cAlgo stuff at all)
very little (negligible) slippage on multi car execution...
although it could be a few ticks on 50+ cars
i wouldnt know, Piper might ;D
I too like cTraderf for execution and the charts look pretty ; , although still perform all my analysis in MT4. I program all my own tools, which are all based upon time and price.
My issue is that cAlgo ( http://ctdn.com/ ) lacks the required functionality. eg it does not even facilitate the modification of a rectangle object, line object etc. http://ctdn.com/forum/ctrader-support/3705
There are some misconceptions that slippage etc is (centrally) controlled by Spotware (cTrader). This is incorrect, it is still a result of your brokers behavior, so thank Pepper, which is also my preference.
This quote possibly sums up the current situation (http://ctdn.com/forum/ctrader-support/6294?page=1#5)
"To answer your question, given the nature of the 21st century financial markets, how good your work (trades) goes most definitely depends on how good and in what conditions your tools are. I will explain why, but first, you need to know where we are at currently, and recognize that many brokers, and platform developers seem to still be stuck in an antiquated 20th century model of how users should interact with the markets.
Not to steer away from the topic, but both platforms are ineffective for the 21st century. cTrader has lots of potential, but unfortunately, the developers seem fixated on designing this platform to be a prettier version of the same existing product, verses providing its users to interact with a 21st century high speed, high frequency market that demands that traders also be able to interact DIRECTLY with the raw financial data.
A closed black-boxed platform such as MT4 and to some extent cTrader should NOT be the central core of trading. What do I mean by this?
Given the raw speed of financial markets, the human brain is no longer in a position to interpret price movements at the speeds required to make successful trades by staring at price charts and static indicators. It is no longer optional, but MANDATORY that the user be able to employ statistical models to operate directly on the high speed data coming through (and by models I DO NOT mean simply using existing EA, or lifeless, lagging indicators).
An understanding of order-flow comes from the statistical analysis of how prices and rate of change prices per volume vary on a tick by tick basis over a moving average period. This can only be done algorithmically, and requires the user to have an intimate connection with pure, reliable level 2 non-aggregated data, that can them be filtered for degeneracy in prices and re-aggregated with several other venues for a complete picture of how the volatile currents in the vast, decentralized ocean of Forex liquidity ebb an
As implied before, the trading platform should no longer be designed to be the central tool for a trader. DATA as you cannot get what you need by staring at a price chart, and guessing what might happen next based on what happened before.
To know what is happening RIGHT NOW, you need instant and direct access to the data NOW. You also need the skills extract useful information from that instantaneous data, juxtapose it with what happened in the short-term intra-day past, be able to intelligently and very quickly browse past data for similar market conditions, reference and those past market conditions with what you have NOW, and then form a trading decision based on all this information presented back to you.
This requires a highly open-ended, Integrated Trading Developer Platform where traders may develop their own 'statistical code' and seamlessly apply this code to the data at hand where the, DATA becomes the central feature that determines the success of a forex trader. The Chart View and Trade execution interface would now be relegated to secondary features, or even completely separate features from the primary platform whose sole purpose would be to make sense of the real-time market intelligently.
Are we all beta testers? Yes. Sadly, the direction that Spotware seems to be taking is in making a newer, shiner, .NET'ier version of the same old, same old. They seem more focused on making a better MT4, than on revolutionizing how retail forex trading can and should be done."
Chrisrocs said:
For all of the faults of the Market Maker model, as a retail trader, Oanda does play it pretty honest. They operate like a solid business that knows that their profits come from their customers being wrong more than right. (Which is a good business to be in.) But they also know that you have to keep coming back. So, for what they are, they're a very reputable business with good customer service. (Not a joke, they solved a wacky set of funding problems that cropped up really quickly, for me.)
But I wouldn't expose a large account with them. Note the bit about the Spread & Going to Infinity. Though that's never actually happened. The main issues I've seen come up is the occasional Stop Run fluffing (2-3 pips), though they have absolutely NOTHING on Forex LTD's stop running. Forex LTD's Market Maker feeds are really junk. Oanda's feed is pretty consistent, minus the occasional wobble, as their Order Book isn't humongous. But unless you're running 5 pip stops, I wouldn't expect it to be much different than something like Pepperstone's. Spreads on majors are as good as you're going to get on any of the US-based platforms. Though FXCM does have the commission-pricing now.
As for larger accounts, TradeStation & Interactive Brokers are the big, big players. Though I'm still trying to find a way to actually test out the TradeStation platform without opening a 2k deposit account. (Yes, your platform might win awards you buy, but it's kind of annoying to have to send you 2k USD just to test it!)
Decided against the I know FA thread, some of the images posted here are not what I really want my grandkids asking me about, so think I'll stick with BP.
Btw the original method Jonny speaks of is well documented back about 4 years ago, poster on this forum, the signs (divergence) on the charts are the prints of the spoofers, those guys are being targeted since dodd frank - the footprints may fade but likely well after my time.
Here is how to catch em - if you can.
http://www.bloomberg.com/graphics/2015-spoofing/
And here is FA to do with anything other than the right side of the chart, like the guy says "it's between your ears"
Charts are h1 of last 2 days EurUsd
Oh - the other indie, the red line - that's a FA indicator, it's monitoring the 10yr, the second one - USDX or the other way round.
I know the hist is not yet south, but see the divergence - spoofers in action.
'Money line'? it differs in value, but who cares, same idea.
Guess what is beyond the reach of the spoofers - FA
J'ai fini
Btw the original method Jonny speaks of is well documented back about 4 years ago, poster on this forum, the signs (divergence) on the charts are the prints of the spoofers, those guys are being targeted since dodd frank - the footprints may fade but likely well after my time.
Here is how to catch em - if you can.
http://www.bloomberg.com/graphics/2015-spoofing/
And here is FA to do with anything other than the right side of the chart, like the guy says "it's between your ears"
Charts are h1 of last 2 days EurUsd
Oh - the other indie, the red line - that's a FA indicator, it's monitoring the 10yr, the second one - USDX or the other way round.
I know the hist is not yet south, but see the divergence - spoofers in action.
'Money line'? it differs in value, but who cares, same idea.
Guess what is beyond the reach of the spoofers - FA
J'ai fini
Attachments
Many thanks Jack, clean slate now.
Next trading day after that last post Eur/Usd fell for 3 consecutive days (first 3 days of this week), around 130 pips. it fell until it encountered that line.
So third day (Wed at London Open) price reached the red line and the FA's, that know nothing since everything is already priced in, were saying something like 'ok guys, you must have gotten all those longs by now, enough is enough, even GG's cat knows the Fed will not raise'.
Right side this weekend, price has again reached the red line, and has reacted with a hr1 up candle, so will I go long there Monday morning?
Two hopes at London, first one is called Bob, the other one is called No.
NYO - who knows
Next trading day after that last post Eur/Usd fell for 3 consecutive days (first 3 days of this week), around 130 pips. it fell until it encountered that line.
So third day (Wed at London Open) price reached the red line and the FA's, that know nothing since everything is already priced in, were saying something like 'ok guys, you must have gotten all those longs by now, enough is enough, even GG's cat knows the Fed will not raise'.
Right side this weekend, price has again reached the red line, and has reacted with a hr1 up candle, so will I go long there Monday morning?
Two hopes at London, first one is called Bob, the other one is called No.
NYO - who knows
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