Filthy Rich for Dirt Cheap - Ajaymein

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
ajaymein
rank: 500+ posts
rank: 500+ posts
Posts: 885
Joined: Sun Nov 09, 2008 6:34 am
Reputation: 0
Gender: None specified

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

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

Humble
rank: 500+ posts
rank: 500+ posts
Posts: 576
Joined: Fri Mar 20, 2009 10:29 am
Reputation: 0
Gender: Male

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

User avatar
ajaymein
rank: 500+ posts
rank: 500+ posts
Posts: 885
Joined: Sun Nov 09, 2008 6:34 am
Reputation: 0
Gender: None specified

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.

User avatar
adaseb
rank: 500+ posts
rank: 500+ posts
Posts: 871
Joined: Fri Aug 21, 2009 5:20 am
Reputation: 0
Gender: None specified

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.

User avatar
PTG
rank: 500+ posts
rank: 500+ posts
Posts: 645
Joined: Thu Jan 08, 2009 2:24 pm
Reputation: 2
Gender: Male
Contact:

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
This is my new signature: "new signature".

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
adaseb
rank: 500+ posts
rank: 500+ posts
Posts: 871
Joined: Fri Aug 21, 2009 5:20 am
Reputation: 0
Gender: None specified

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.

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

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!

User avatar
PTG
rank: 500+ posts
rank: 500+ posts
Posts: 645
Joined: Thu Jan 08, 2009 2:24 pm
Reputation: 2
Gender: Male
Contact:

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.
This is my new signature: "new signature".

User avatar
adaseb
rank: 500+ posts
rank: 500+ posts
Posts: 871
Joined: Fri Aug 21, 2009 5:20 am
Reputation: 0
Gender: None specified

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.

User avatar
PTG
rank: 500+ posts
rank: 500+ posts
Posts: 645
Joined: Thu Jan 08, 2009 2:24 pm
Reputation: 2
Gender: Male
Contact:

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:
This is my new signature: "new signature".

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”