winny wrote:TRO, do you also have a Tradestation BuyZone Indicator that changes every hour ?
I only have the Tradestation version that is displayed at the open.
NO, I don't.
Sweet Pip wrote:Hi TRO,
Since playing around with FXCM's platform, I discovered that I can click and drag my pending order lines to move them right on their charts. I like that..lol
However while playing around with that, something else started to come to mind. So I went back thru your NLA thread on babypips, and did some more googling, and back to that thread again.
What I noticed about the trades all looking the same in your examples was that when price makes a "big" move in one direction out of proportion to it's normal movement, it eventually will reverse (bounce, retrace or whatever you want to call it). I've found some articles on such behaviour and they call it "fading the breakout".
So, when I see price making a big move...say downwards..I've been placing my pending buy order just above price with a bit of a buffer. If price keeps moving down, then I keep moving my pending order to follow it.
Do you have any comments on what I'm doing ...am I still chasing price? or not placing the entry with proper consideration...or...?
Thanks a bunch!
razorboy wrote:I was doing this for a bit, the problem I ran into was a stop loss issue........where do you put it.....how much draw down do you take. The other issue is that with FXCM is that there is a limit to how close to the price you can place your order
TheRumpledOne wrote:razorboy wrote:I was doing this for a bit, the problem I ran into was a stop loss issue........where do you put it.....how much draw down do you take. The other issue is that with FXCM is that there is a limit to how close to the price you can place your order
I think tFXCM CHEATS!
Not allowing limit orders unless they are X pips away is just crazy!!
Not to mention, the way they jump the price around to "catch" you.
Market orders are for suckers and they try to make a sucker out of you.
Sweet Pip wrote:Thanks TRO for the non-answer..LOL
Hi razorboy,...I'm not sure that's what FXCM is doing. I think it's more to do with not being able to enter an order at a price that is between the bid & the ask which is difficult to see when you only have the bid price showing on the chart, and the spread does fluctuate.
As for the stop loss, I'm thinking it would go just below the low that it made before bouncing up again,...or the just above the high before bouncing down again. If it hadn't finished going up or down, then the loss should be minimal and then wait some more to try again.
It's something I'm going to play with this week. The last few days I was using the 1 min frame with eurjpy when I found myself doing this so I haven't had time to find out if it really works for me or not until I try it some more and have some results either way.
pierre23 wrote:Thanks Jess, willkohsg and sweet pip for the comments.
Can I ask if anyone knows how I can add 2 SP_Range indicators to a chart? When I add two it doesn't work, only one is up. I want to have the H1 and D1 Ranges. Or alternatively if theres a decent range indi out there?