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TheRumpledOne
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Postby TheRumpledOne » Sat Nov 29, 2008 10:40 pm

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.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby TheRumpledOne » Sat Nov 29, 2008 10:42 pm

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! :)


Doesn't matter what I say...

All that matters is if it works for you.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby TheRumpledOne » Sat Nov 29, 2008 10:46 pm

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.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby Sweet Pip » Sun Nov 30, 2008 12:56 am

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.

:)
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Postby razorboy » Sun Nov 30, 2008 1:36 am

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.


I've noticed a few cute things about the platform. At least on my computers, the automatic stop losses and TP's dont seem to work with one click trading. In fact, I dont seem to be able to set TP's at all

It would also be easy to design a platform to stall/delay a price feed just a bit around your break even level. not saying fxcm does this, but i know it could be done.

Because I use two different price feeds to trade off of, I am sort of forced to use market orders - I use MT with a feed from gain and then trade via FXCM. The truth is this hasn't been too much of an issue for me. I am actually doing better using market orders then resting entry orders as I am entering positions of pivot points of prior candles and there would be no way I would be fast enough to have resting orders in the right spots

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Postby Sweet Pip » Sun Nov 30, 2008 1:55 am

Coming from Mt4, it took me awhile to figure out that limit orders where the same thing as setting a TP. So when I set my "entry order" which is equivalent to a pending "buy" or "sell" stop order in mt4, I always click the limit order box (found when clicking Advanced button) and set the price for the TP...or I can add it after too.

I don't use the one or double click features because they're for market orders only I think. Market orders will slip the entry price if price is moving too fast...I found that with IBFX and North Finance too. I also notice that IBFX had a price spike on a candle that FXCM didn't...depending on your position, it could've been good or bad. I feel All retail brokers can modify the feed or have technical diffuculties...maybe a sun flare...lol...but thems the breaks.

I don't have much choice for brokers due to where I live and regulations as such, so I have to work with what I got.

:)
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Postby TheRumpledOne » Sun Nov 30, 2008 3:00 am

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.

:)


Remember, I want people to learn to SEE.

When you SEE IT, you don't need outside opinions, including mine.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

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Postby Sweet Pip » Sun Nov 30, 2008 3:36 am

Ok..."I SEE said the blindman as he picked up his hammer and SAW" :smt002
It's not always about getting what you want...it's wanting what you've got!

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Postby pierre23 » Mon Dec 01, 2008 2:00 am

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?

Cheers
Pierre

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Postby Sweet Pip » Mon Dec 01, 2008 2:05 am

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?

Cheers
Pierre


You can attach it twice, then change the "visualization" parameters on one of them check H1...and on the other check D1

:)
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