Mr. D's Humble Quest in the Wick Land

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Mr. D
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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Thu Nov 15, 2018 1:11 pm

LeMercenaire wrote:
Mr. D wrote:Guys,

You're right. When writing the post, I was thinking about counter trading, something I think Lem's using when the trade goes the opposite way. It is only possible on MT4 and not on NinjaTrader, not sure about other platforms.


Most serious brokers (all?) will allow counter trading. Never used NinjaTrader. The way around it, if you are wedded to that platform for charting, is to keep it just to chart and place your trades with a separate stand-alone broker. I'd recommend doing that anyway.

One thing now though, is that you need to consider account size much more if you wish to counter, due to the ESMA bull****.


Thanks for replying. Good stuff!

What is ESMA? How do they influence how traders choose account size?

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Mira
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Re: Mr. D's Humble Quest in the Wick Land

Postby Mira » Thu Nov 15, 2018 3:01 pm

Mr. D wrote:
LeMercenaire wrote:
Mr. D wrote:Guys,

You're right. When writing the post, I was thinking about counter trading, something I think Lem's using when the trade goes the opposite way. It is only possible on MT4 and not on NinjaTrader, not sure about other platforms.


Most serious brokers (all?) will allow counter trading. Never used NinjaTrader. The way around it, if you are wedded to that platform for charting, is to keep it just to chart and place your trades with a separate stand-alone broker. I'd recommend doing that anyway.

One thing now though, is that you need to consider account size much more if you wish to counter, due to the ESMA bull****.


Thanks for replying. Good stuff!

What is ESMA? How do they influence how traders choose account size?


Just killing your leverage :lol:

Well, that's what they did to me.
__________ THE :smt096 IS A LIE__________

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LeMercenaire
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Re: Mr. D's Humble Quest in the Wick Land

Postby LeMercenaire » Thu Nov 15, 2018 3:07 pm

Mr. D wrote:
LeMercenaire wrote:
Mr. D wrote:Guys,

You're right. When writing the post, I was thinking about counter trading, something I think Lem's using when the trade goes the opposite way. It is only possible on MT4 and not on NinjaTrader, not sure about other platforms.


Most serious brokers (all?) will allow counter trading. Never used NinjaTrader. The way around it, if you are wedded to that platform for charting, is to keep it just to chart and place your trades with a separate stand-alone broker. I'd recommend doing that anyway.

One thing now though, is that you need to consider account size much more if you wish to counter, due to the ESMA bull****.


Thanks for replying. Good stuff!

What is ESMA? How do they influence how traders choose account size?


You really have been out of the loop, haven't you?!

http://fxcorrelator.wixsite.com/nvp100/ ... e-rulings-

Mr. D
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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Thu Nov 15, 2018 3:29 pm

LeMercenaire wrote:
Mr. D wrote:
LeMercenaire wrote:
Most serious brokers (all?) will allow counter trading. Never used NinjaTrader. The way around it, if you are wedded to that platform for charting, is to keep it just to chart and place your trades with a separate stand-alone broker. I'd recommend doing that anyway.

One thing now though, is that you need to consider account size much more if you wish to counter, due to the ESMA bull****.


Thanks for replying. Good stuff!

What is ESMA? How do they influence how traders choose account size?


You really have been out of the loop, haven't you?!

http://fxcorrelator.wixsite.com/nvp100/ ... e-rulings-


Oh, that's the agency that has imposed the recent leverage regulation. Heard about it. This is for Europe-based brokers only, right? Bad news for IG and alike. Could be easily resolved by moving to brokerages outside of Europe, there are many in Australia, for example. Nevertheless, planning to open an account with Dukascopy. Their leverage has decreased ten times, from 300 to 30.

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LeMercenaire
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Re: Mr. D's Humble Quest in the Wick Land

Postby LeMercenaire » Thu Nov 15, 2018 4:18 pm

Mr. D wrote:
LeMercenaire wrote:
Mr. D wrote:
Thanks for replying. Good stuff!

What is ESMA? How do they influence how traders choose account size?


You really have been out of the loop, haven't you?!

http://fxcorrelator.wixsite.com/nvp100/ ... e-rulings-


Oh, that's the agency that has imposed the recent leverage regulation. Heard about it. This is for Europe-based brokers only, right? Bad news for IG and alike. Could be easily resolved by moving to brokerages outside of Europe, there are many in Australia, for example. Nevertheless, planning to open an account with Dukascopy. Their leverage has decreased ten times, from 300 to 30.


Yep. Doesn't really touch me now, I have split my assets as it were, out of reach.

For UK traders using UK brokers though, it will seriously cramp your style should you wish to counter trade at any real level.

US traders are already well used to having their leverage throttled.

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Mr. D
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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Thu Nov 15, 2018 4:27 pm

LeMercenaire wrote:
Yep. Doesn't really touch me now, I have split my assets as it were, out of reach.

For UK traders using UK brokers though, it will seriously cramp your style should you wish to counter trade at any real level.

US traders are already well used to having their leverage throttled.


You are a smart fellow :)

Though still fail to understand the connection between the handicapped leverage and counter trading.

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LeMercenaire
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Re: Mr. D's Humble Quest in the Wick Land

Postby LeMercenaire » Thu Nov 15, 2018 5:45 pm

Mr. D wrote:
LeMercenaire wrote:
Yep. Doesn't really touch me now, I have split my assets as it were, out of reach.

For UK traders using UK brokers though, it will seriously cramp your style should you wish to counter trade at any real level.

US traders are already well used to having their leverage throttled.


You are a smart fellow :)

Though still fail to understand the connection between the handicapped leverage and counter trading.


It cuts the number of trades (counter or otherwise) that you can run at once, at the same lot size, so no more running say, four counters, which though unusual is not unheard of, as that is eight trades open at the same time.

Mr. D
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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Thu Nov 15, 2018 6:04 pm

Lem,

Do you still trade the flip? If so, can you elaborate? Trying it on SP500, works pretty consistently. If you don't, what do you trade instead?

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LeMercenaire
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Re: Mr. D's Humble Quest in the Wick Land

Postby LeMercenaire » Thu Nov 15, 2018 11:36 pm

Mr. D wrote:Lem,

Do you still trade the flip? If so, can you elaborate? Trying it on SP500, works pretty consistently. If you don't, what do you trade instead?


It is designed specifically around that bar on the S&P, no others.

It still works - the only reason I stopped using it was that it is such a weird time in the UK and I kept forgetting that it was coming, lol.

Mr. D
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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Fri Nov 16, 2018 4:16 am

LeMercenaire wrote:
Mr. D wrote:Lem,

Do you still trade the flip? If so, can you elaborate? Trying it on SP500, works pretty consistently. If you don't, what do you trade instead?


It is designed specifically around that bar on the S&P, no others.

It still works - the only reason I stopped using it was that it is such a weird time in the UK and I kept forgetting that it was coming, lol.


Is it the 5 PM GMT bar?

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