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razorboy
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Postby razorboy » Fri May 15, 2009 5:28 pm

Funny how you should post that

I had initially gone long when price broke to the upside and "temporarily consolidated" above the open

went to bed when it broke to the low side - put in a limit sell that never got hit.......ya, I was looking for a bit of a retrace

This morning

Went long from 128.59 cover at 129.67

Short 129.547 cover 128.50........

Your patterns are becoming clearer once i start focusing on the price action at the relative to the open price...........I am trying to crystalize them on paper


MightyOne wrote:
Now explain to me how you did not shovel pips into your account on this move :shock:

Were you sleeping?

Were you expecting a higher high?

When It broke short were you waiting for some sort of
confirmation that price was going down?

Were you waiting for a retracement?

When It retraced why didn't you enter?

When It broke short again were you scared that price would retrace?

Maybe you thought that the move was over?

EXPLAIN:


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MightyOne
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Postby MightyOne » Fri May 15, 2009 6:46 pm

You made over 200 pips this morning?

That is what I am talking about:

If price moves a hundred to hundreds of pips per day there is no reason why you can't get at least half of it...




razorboy wrote:Funny how you should post that

I had initially gone long when price broke to the upside and "temporarily consolidated" above the open

went to bed when it broke to the low side - put in a limit sell that never got hit.......ya, I was looking for a bit of a retrace

This morning

Went long from 128.59 cover at 129.67

Short 129.547 cover 128.50........

Your patterns are becoming clearer once i start focusing on the price action at the relative to the open price...........I am trying to crystalize them on paper


MightyOne wrote:
Now explain to me how you did not shovel pips into your account on this move :shock:

Were you sleeping?

Were you expecting a higher high?

When It broke short were you waiting for some sort of
confirmation that price was going down?

Were you waiting for a retracement?

When It retraced why didn't you enter?

When It broke short again were you scared that price would retrace?

Maybe you thought that the move was over?

EXPLAIN:


Image

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TheRumpledOne
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Postby TheRumpledOne » Fri May 15, 2009 7:09 pm

I trade with MB Trading Direct Access Brokerage Firm


They are an ECN. THERE IS NO FIXED SPREAD IN FOREX.

You can google and find out what I really think about "FIXED SPREAD BANDITS".

I'll leave it at that so I don't get banned.

How do I avoid the spread?

I explained this to someone yesterday in an IM.

With MBT you pay a commission rather than having a "FIXED SPREAD".

It's "apples and oranges" so don't try to compare. "THE MATRIX HAS YOU" and you need to "FREE YOUR MIND" to understand what I am about to explain.

Let's say the current bid/ask is 1.5010 x 1.5015

The current spread is 5 pips.

You want to SHORT.

You SHORT at 1.5010.

You set a TP at 1.5005.

Bid/Ask becomes 1.5005 x 1.5009 and the current spread is 4 pips.

At MBT, you will get filled if the bid is 1.5005 and someone TAKES your offer.

Bid/Ask is now 1.5004 x 1.5009 and YOU HAVE YOUR PROFIT.

Note: the ASK never reached 1.5005. THIS IS IMPORTANT!

If you entered this order at a FIXED SPREAD BANDIT, whoops I mean broker, your order is STILL OPEN!!

The bid/ask must become 1.5000 x 1.5005 and your order HITS the Ask.

DO YOU GET IT?

If not, then read this over and over and over again until the LIGHT BULB goes off!!

The day I found out about MBT is the day I opened an account there and stopped trading with FIXED SPREAD BROKERS.

The simplest thing to do is to load up a demo account at MBT Group and see it with your own eyes.

When you place your TP Bid offer at 1.5005, your bid is displayed on Level II.

The point is with MBT your offer gets hit.

With FIXED SPREAD BROKERS you have to wait to hit their offer.

Maybe this might help:

First:

1.5010 x 1.5015

and price drops...

1.5009 x 1.5014

1.5008 x 1.5013

1.5007 x 1.5013

1.5006 x 1.5012

1.5006 x 1.5011

1.5005 x 1.5011 You may get hit

1.5005 x 1.5010 You may get hit

1.5004 x 1.5009 YOU COVERED 5 PIP GROSS PROFIT

AND LET'S CONTINUE

1.5003 x 1.5008

1.5002 x 1.5007

1.5001 x 1.5006

1.5000 x 1.5005 YOUR FIXED SPREAD BROKER FILLS YOUR ORDER.

Does that make it clearer??

What about the commission cost?

The commission varies depending on the pair trading.

It is $.50 per 10k minilot on USDJPY. So if I gross 2 pips, I am making money.

From the MBT site:


Commission Rates

Fixed spreads are a way for FCMs to markup or markdown the best bid or offer. FCMs do this to hide their fee into the price of the currency pair instead of displaying their best quote. Common sense tells you that no one works for free, so when you see an FCM claim they have ?no commission?, that should be a red flag. So how are they getting paid? Its simple: they are making money with the built-in markup/markdown in the spread.

Our FCM, MB Trading Futures, has nothing to hide. They offer tighter spreads with no markups/markdowns and openly display a low commission rate.

Commissions are based on total dollar amount traded: $5 per $100,000 traded.
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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razorboy
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Postby razorboy » Fri May 15, 2009 7:12 pm

I was actually out of the office during both runs otherwise I would have added positions

The run up - taking my 5 year old to school
the run down - meeting

Just a matter of picking up on the pattern that price is moving - hit 100 yesterday and 100 the day before watching the way price moved after consolidation from the open at 5 pm est and figuring out the best time frames to play agaist each other - 15 minute candles on 4 hour candles seems to work best for me

I figure there are only 6 patterns relative to the open to watch for - 3 up and 3 down

if Price breaks from consolidation but doesn't hold the open price- looking for a reversal
If price breaks from consolidation, holds the open price and doesnt retrace at all - look for a steep fast run- (i can tell by the lack of semafor numbers how steep it is) and a big (50%) retrace when it finally stops and then another solid turn
If price breaks, holds the open, has a nice consolidation not too far from the open, the run will be more gradual and longer, but with fewer corrections along the way

And this sums up the EUROYEN for the last two days...........

Now to work your angle thing out

Stay tuned for more blinding flashes of the obvious........


MightyOne wrote:You made over 200 pips this morning?

That is what I am talking about:

If price moves a hundred to hundreds of pips per day there is no reason why you can't get at least half of it...




razorboy wrote:Funny how you should post that

I had initially gone long when price broke to the upside and "temporarily consolidated" above the open

went to bed when it broke to the low side - put in a limit sell that never got hit.......ya, I was looking for a bit of a retrace

This morning

Went long from 128.59 cover at 129.67

Short 129.547 cover 128.50........

Your patterns are becoming clearer once i start focusing on the price action at the relative to the open price...........I am trying to crystalize them on paper


MightyOne wrote:
Now explain to me how you did not shovel pips into your account on this move :shock:

Were you sleeping?

Were you expecting a higher high?

When It broke short were you waiting for some sort of
confirmation that price was going down?

Were you waiting for a retracement?

When It retraced why didn't you enter?

When It broke short again were you scared that price would retrace?

Maybe you thought that the move was over?

EXPLAIN:


Image
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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TheRumpledOne
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Postby TheRumpledOne » Sat May 16, 2009 4:23 am

TRADING IS SIMPLE

Many of you are complicating matters with complex, lagging, SQUIGGLY LINES indicators, unnecessary methods and/or over analyzing. Trading is so much simpler. There is no "trick" or "secret".

Remember, the game OLD MAID? The card game where you tried to stick someone else with the OLD MAID. Trading is similar. Think about it, some currencies are more desirable to have than others. The money flows from the undesirable to the desirable.

All you have to do is PAY ATTENTION and SEE how the money is flowing. When a currency becomes desirable, the price starts going up. When a currency becomes undesirable, the price starts going down. IT IS THAT SIMPLE!! All you have to do is WATCH and SEE. You do NOT need a bunch of indicators to trade!

At ALL times, one currency is the most desirable and one is the least. Watch what happens when the sentiment changes. Usually, it is a BIG MOVE. Buyers and sellers leave clues!! All you have to do is WATCH AND SEE!

NEVER LOSE AGAIN!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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john225
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Postby john225 » Sat May 16, 2009 11:15 am

Where can i find the rules for Never Lose Again!! Mark-02_Smile

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Postby prochargedmopar » Sat May 16, 2009 1:21 pm

This is a Never Lose Again thread:
It has some rules on the first page.
http://kreslik.com/forums/viewtopic.php?t=1681
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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TheRumpledOne
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Postby TheRumpledOne » Sun May 17, 2009 1:08 am

Some of you may find this informative:

http://articles.mql4.com/401
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 teoman » Mon May 18, 2009 2:59 pm

I use different brokers demo account, and installed same tpl, to the different metatarders.

Their zone is same NewYork Time both of them.

But signals are different,

Usdchf one is buy, the other one is sell.. My Local GMT is +2, one broker is at London, the other one is at USA..

Any ideas..

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TheRumpledOne
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Postby TheRumpledOne » Mon May 18, 2009 6:11 pm

Look at the candles.

1 pip can make all the difference.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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