Filthy Rich for Dirt Cheap - Ajaymein

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ajaymein
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Postby ajaymein » Thu Jun 02, 2011 5:21 pm

Damn it went short again...keep seeing sellers here, should have kept my SL a little looser

Image

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Humble
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Postby Humble » Thu Jun 02, 2011 11:39 pm

Well I have a different damm it. Cos you are making a hell of a lot more than me and I'm the one left thinking I don't get it.

But where is the PA on that chart to go short?
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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Postby ajaymein » Fri Jun 03, 2011 8:39 am

Humble wrote:Well I have a different damm it. Cos you are making a hell of a lot more than me and I'm the one left thinking I don't get it.

But where is the PA on that chart to go short?


Rather than the candlestick style, I look at live tick data to see how candlesticks form at levels I think are supply or demand. For me, I can easily tell when sellers outnumber buyers or vice versa at levels because of how slow/fast price goes up and jerks back down or trickles back down.

Best case scenario, a pin bar or beob/buob is printed but that's not always the case like it was here.

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Postby adaseb » Fri Jun 03, 2011 5:26 pm

hey aj

i noticed that you seem to take your trades on OANDA. Just wondering why you aren't trading the silver futures (or gold) with a futures broker.

The spread on OANDA for silver is roughtly what 3-4 cents, on the futures market its 0.5 during a liquid period.

The only advantage i see in trading on OANDA is that you can trade any unit size while the margin on the futures is around $20K for each contract.

However you are really getting ripped off on spreads, especially when you are trying to scalp.

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PTG
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Postby PTG » Fri Jun 03, 2011 8:37 pm

adaseb wrote:..the margin on the futures is around $20K for each contract.


SI futures (Nymex/Comex): 1500 $ intraday per contract.

http://www.tpfutures.com/margins.htm

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Postby adaseb » Fri Jun 03, 2011 9:50 pm

PTG wrote:
adaseb wrote:..the margin on the futures is around $20K for each contract.


SI futures (Nymex/Comex): 1500 $ intraday per contract.

http://www.tpfutures.com/margins.htm


Not anymore, the CME issued a bunch of margin hikes in the last couple of weeks. It's around $20K now.

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Postby aliassmith » Sat Jun 04, 2011 3:54 pm

adaseb wrote:hey aj

i noticed that you seem to take your trades on OANDA. Just wondering why you aren't trading the silver futures (or gold) with a futures broker.

The spread on OANDA for silver is roughtly what 3-4 cents, on the futures market its 0.5 during a liquid period.

The only advantage i see in trading on OANDA is that you can trade any unit size while the margin on the futures is around $20K for each contract.

However you are really getting ripped off on spreads, especially when you are trying to scalp.


Well $20K is a big change from $1500. I believe that would kill a lot of
liquidity. Price still seems to make great move.

If I am getting robbed at 4 cents a trade they can keep
robbing me considering the profits I make. You are correct I can trade
6347 ounces of silver where contracts are rigid and don't fit my money
management as precise.

Dukascopy Bank SA has launched Silver (XAG/USD) for Live trading
accounts. Minimum trading amount is 50 units (ounces). Increment
1 unit (ounce).


Not just at Oanda.
Trade Your Way as Long as It Makes Money!

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PTG
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Postby PTG » Sat Jun 04, 2011 5:34 pm

adaseb wrote:
PTG wrote:
adaseb wrote:..the margin on the futures is around $20K for each contract.


SI futures (Nymex/Comex): 1500 $ intraday per contract.

http://www.tpfutures.com/margins.htm


Not anymore, the CME issued a bunch of margin hikes in the last couple of weeks. It's around $20K now.


It is always worth to check out the existing margin policies for brokers. They don't always transfer the CME margin requirements onto the customers.

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Postby adaseb » Sat Jun 04, 2011 7:42 pm

Yes but aj doesn't have a $5000 account like most noobies.

When a noob trades with his $1000 account on OANDA he probably doesn't mind paying 3-4 cents in spread for each trade, but imagine if you got a $100K+ account, each penny adds up with large lots.

If you trade at $100/pip, each half pip in spread costs you $50, and imagine trading that same instrument a couple times a day, everyday for a month. It's a lot of money.

Nobody should be scalping gold or silver on OANDA with a large account. It just doesn't make sense.

However if your swinging or position trading silver then thats fine.


And it didn't jump from $1500 to $20K overnight, CME issued many increments in margin hikes. The last rate hike was around $50 and everybody who was overleveraged got burnt, hence causing that massive sell-off.

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Postby PTG » Sat Jun 04, 2011 10:59 pm

adaseb wrote:Yes but aj doesn't have a $5000 account like most noobies.

When a noob trades with his $1000 account on OANDA he probably doesn't mind paying 3-4 cents in spread for each trade, but imagine if you got a $100K+ account, each penny adds up with large lots.

If you trade at $100/pip, each half pip in spread costs you $50, and imagine trading that same instrument a couple times a day, everyday for a month. It's a lot of money.

Nobody should be scalping gold or silver on OANDA with a large account. It just doesn't make sense.

However if your swinging or position trading silver then thats fine.


And it didn't jump from $1500 to $20K overnight, CME issued many increments in margin hikes. The last rate hike was around $50 and everybody who was overleveraged got burnt, hence causing that massive sell-off.


As volatility hikes, so does the margin, and reverse.

I don't know what makes sense or not for a person, I only know what makes sense for me. That's what I am an expert in, and that's all what I care about. Scalping doen't make sense to me, for any instrument. But then again, what do I know :wink:

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