Ok maybe 20 trades for -20 pips is a bit of an exaggeration but -20 for me usually is about 10-15 trades with maybe a small winner in there somewhere. Otherwise a day going bad.
I trade with different brokers. Sometimes I get filled by buying at the bid or selling at the ask, so my spread is 0, you can't do that with a dealing desk broker.
However sometimes I use a dealing desk broker like Oanda because there are certain times of wide spread and using a dealing desk broker which provides liquidity, i get a lower spread so I just use that plus i pay no commissions.
Many times when I get filled I am always in profit so if it doesn't look like the trade will work out, i just liquidate my position. I stay in these trades for a few seconds to a few minutes.
Where do I start from?
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trueblueTEX
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trueblueTEX wrote:adaseb,
I take it that you do not trade with MT4, then? I still haven't had the experience of buying at the bid on MT4.
No I actually hate MT4. Never traded live with it before.
You can only buy at the bid with an ECN for Forex or a Currency futures broker.
If you pay no commissions then you cant buy at bid and sell at ask.
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trueblueTEX
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Jalarupa
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I totally see how MO uses nav to action a trade every 5 pips or so... If that is still the way you doing it MO...?
Its kinda the easiest way to enter stop order trades via the FX pairs console... But as for RATS I would assume that TRO would take the price off teh chart and plug it into the console...
Liquidating positions would be done by taking a trade of the same amount of leverage in the opposite direction or by setting limit and market stop orders (also in the opposite direction) at key areas on your chart...
You can also enter off the physical Nav Pro Charts... although the freaking lines keep moving and I've given up trying to make sense of it...
I m using MBT a few years now and I m "quite" happy. I say "quite" because it was a moon where whenever I was trading something after a while or immediately it was turning against me and I was loosing. I was even starting thinking of just trading the opposite of what I was thinking that it was right. I m not sure if you follow me.
Anyway I don't think it was the broker it was me that I was following the crowd.
Anyway I don't think it was the broker it was me that I was following the crowd.
Jalarupa wrote::lol: I totally see how MO uses nav to action a trade every 5 pips or so... If that is still the way you doing it MO...?
Its kinda the easiest way to enter stop order trades via the FX pairs console... But as for RATS I would assume that TRO would take the price off teh chart and plug it into the console...
Liquidating positions would be done by taking a trade of the same amount of leverage in the opposite direction or by setting limit and market stop orders (also in the opposite direction) at key areas on your chart...
You can also enter off the physical Nav Pro Charts... although the freaking lines keep moving and I've given up trying to make sense of it...
I take 4.5% of my account and create a pincushion of the desired size.
I treat this stake as if it were a highly aggressive trading account.
Most of my attn is on the survivability of this 4.5%
It really doesn't matter if I make the pincushion 180 pips instead of 45 pips; I can always buy heavily as price moves in my favor and reduce the pincushion to a 45p gap from the current price.
When my pincushion turns into a profit cushion I am only thinking of one thing:
KILL KILL KILL DESTROY!
as I reach for Jim Cramer's BUY BUY BUY button.
Oh and let it all work out
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