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nutz505
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Postby nutz505 » Fri Oct 03, 2008 2:54 pm

Ok ,So if

price > prev midpoint & open - points N
price > open - points NE
price = open - points E
price < open - points SE
price < prev midpoint& open - points S

Rich

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disbellj
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Postby disbellj » Fri Oct 03, 2008 6:28 pm

TheRumpledOne wrote:I really want everyone to post on www.babypips.com, www.forexfactory.com and www.forex-tsd.com to spread the word that you can NEVER LOSE AGAIN!!

Just post your results with charts. You don't have to say much more. Results speaks!!

Traders also need to know about the FREE indicators.

And traders need to know that THERE IS NO FIXED SPREAD IN FOREX.

So please continue to post charts on threads in those other forums.


TRO,

I was wondering if you would explain how you use the Market Depth window in MB Navigator.

I see prices streaming down the right-hand side. A is for Ask, and are buy orders. B is for B and are sell orders. There are two columns in the Market Depth window that have prices and colors. The left column has bid prices, and the right column has ask prices. The green color at the top shows best price possible. The other colors below that show not-as-good prices. I have talked to MB Trading and they have said this much, but when I asked them about who was getting the spread that they charge, then they said they don't charge spread, just commission. I said "Well, you tell me to buy at the ask and sell at the bid, who is making that money then, if MB is not?". He said someone else was. I said, "Well, I'm just trying to understand as best i can, and spread costs add up, so if I don't have to pay it, I'd like to know how to do that". He dodged answering the question. I basically told him about reading about spread bandits and would like to know how I can save that money. He still didn't answer.

So, instead of hitting the green on the right column (ask), do you hit the green on the left column (bid) when you are buying? When selling, do you hit the green on the left column (bid) or right column (ask)? I figured what the heck, I'd like to make myself a market maker too, since I don't see the need in me having to pay them for something I didn't need to, so I have tried doing just that (the opposite of what everybody else does, by buying at bid rather than ask, and selling at ask rather than bid). My trades either don't get taken, or they get taken only partially. What am I doing wrong?

At times, I feel it would be more profitable by not having a commission and just paying spread, since I'm getting stuck paying spread anyways PLUS commission, unless I learn how to set stop limits, which I don't know what all the types of orders mean. I know you said you don't use stop orders, just limit orders, but how can you do that and it not get filled right away before the price reaches a line?

Don

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Postby kiwisteve » Sat Oct 04, 2008 12:14 am

Hi Don

Clearly I can't speak for TRO and would be very interested in his answer. However, I have recently opened an account with MB Trading and have spent the last couple of weeks studying MB Navigator and the various order types (also lot of info on their website). I have learnt how to place orders to enter, take profit and stop loss and effectively eliminate the spread.

I always place orders to go long or short with pre-determined TP and SL orders placed at the time of entry. Lets assume the pair we're trading has a typical spread of 5 pips and I want to set my TP and SL to both 20 pips.

I use a combination stop / limit entry plus TTO (Threshold Triggered Order). Therefore, to go LONG, I place a buy stop above the current price (at the level I want to be stopped in) together with a limit say 2 pips further away. For a SHORT trade, I place a sell stop below the current price (at the level I want to be stopped in) together with a limit say 2 pips further away.

Now, here is the cunning bit. Right Click on the bottom of the Market depth window (where the order entry is done - I use the "Plus" order template BTW) and change the setting in "Preferences" to TRADE THROUGH for long positions and FIRST TOUCH for short positions (before placing your order). This means:

LONG trades - you buy at the bid and take profit at the bid (therefore set your upper limit to 20 pips). Your stop loss is triggered at the Ask (therefore set your lower limit to 15 pips or SL less spread) which will give you the 20 pip stop loss.

SHORT trades - you sell at the bid and take profit at the bid (therefore set your lower limit to 20 pips). Your stop loss is triggered at the Ask (therefore set your upper limit to 25 pips or SL plus spread) which will give you the 20 pip stop loss.

Disclaimer: The above I believe to be 100% correct. However, please test this and verify it for yourself. Also, other more experienced users may have a better methodolgy for placing orders on this platform - I would be very interested in their feedback.

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Postby ewokuk » Sat Oct 04, 2008 9:59 am

disbellj wrote:At times, I feel it would be more profitable by not having a commission and just paying spread, since I'm getting stuck paying spread anyways PLUS commission, unless I learn how to set stop limits, which I don't know what all the types of orders mean. I know you said you don't use stop orders, just limit orders, but how can you do that and it not get filled right away before the price reaches a line?

Don


this is exactly what ive been thinking. it doesnt seem like it would work very well. especially with different lot sizes and even more so if you need to sell fast to get your 5 pips, but you have to wait for someone to take it? by that time your 5 pips could be -5 pips. same when you buy, if you set an order, unless someone takes it within a couple of seconds, the price would probably have gone up and triggered it anyway and you end up paying spreads and commission? all because you have to have someone on the other end to take your trade, which takes time. especially if they dont want whatever your particular lot size is that you are trying to trade?

you may be abld to buy and sell at the bid as kiwi says, but for scalping i dont see how that can happen quick enough to be able to scalp with it when it always needs someone else to take the trade.

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4stroke
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1H + 5 min + 1 min

Postby 4stroke » Sat Oct 04, 2008 5:58 pm

hey guys

i still get shivers down my spine when i hear the word fibo.
still can't exactly figure out how to use the TRO dyn fib sr
Here is a squetch i made at work ; it shows the way i'll trade next week.
1H light goes from green to red ; i'll ride the red waves down on the 5 min chart.
I'll even add a 1 min chart on the same screen, with stoch, to time when a 5 min red wave has run its course.

I WILL NOT ride against the tide !


U guys think i'll be succesfull ?

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TheRumpledOne
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Postby TheRumpledOne » Sat Oct 04, 2008 10:05 pm

disbellj wrote:
TheRumpledOne wrote:I really want everyone to post on www.babypips.com, www.forexfactory.com and www.forex-tsd.com to spread the word that you can NEVER LOSE AGAIN!!

Just post your results with charts. You don't have to say much more. Results speaks!!

Traders also need to know about the FREE indicators.

And traders need to know that THERE IS NO FIXED SPREAD IN FOREX.

So please continue to post charts on threads in those other forums.


TRO,

I was wondering if you would explain how you use the Market Depth window in MB Navigator.

I see prices streaming down the right-hand side. A is for Ask, and are buy orders. B is for B and are sell orders. There are two columns in the Market Depth window that have prices and colors. The left column has bid prices, and the right column has ask prices. The green color at the top shows best price possible. The other colors below that show not-as-good prices. I have talked to MB Trading and they have said this much, but when I asked them about who was getting the spread that they charge, then they said they don't charge spread, just commission. I said "Well, you tell me to buy at the ask and sell at the bid, who is making that money then, if MB is not?". He said someone else was. I said, "Well, I'm just trying to understand as best i can, and spread costs add up, so if I don't have to pay it, I'd like to know how to do that". He dodged answering the question. I basically told him about reading about spread bandits and would like to know how I can save that money. He still didn't answer.

So, instead of hitting the green on the right column (ask), do you hit the green on the left column (bid) when you are buying? When selling, do you hit the green on the left column (bid) or right column (ask)? I figured what the heck, I'd like to make myself a market maker too, since I don't see the need in me having to pay them for something I didn't need to, so I have tried doing just that (the opposite of what everybody else does, by buying at bid rather than ask, and selling at ask rather than bid). My trades either don't get taken, or they get taken only partially. What am I doing wrong?

At times, I feel it would be more profitable by not having a commission and just paying spread, since I'm getting stuck paying spread anyways PLUS commission, unless I learn how to set stop limits, which I don't know what all the types of orders mean. I know you said you don't use stop orders, just limit orders, but how can you do that and it not get filled right away before the price reaches a line?

Don


I watch it.

One thing I watch is whether the small orders are being taken out or if they remain.

For example if you see 1 lot on the ASK and it is not being taken out but the bid is moving up, those are "freebies". You can buy them and probably dump them for 5 pips or so in seconds.

You are NOT doing anything wrong. If you place an offer on the bid, you get filled by a market sell order OR someone places a limit sell order at or below your price. If no one sells to you then you don't get filled. That's how the market works.... FOR EVERY BUYER THERE HAS TO BE A SELLER AND VICE VERSA. It's like the tango, it takes two!!

And you are NOT paying the spread, you are only paying the commission. I have explained this before.

I enter a limit order to buy when the ask is at or below the price I want to pay.

I enter a limit order to sell when the bid is at or above the price I want to sell.
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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TheRumpledOne
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Re: 1H + 5 min + 1 min

Postby TheRumpledOne » Sat Oct 04, 2008 10:07 pm

4stroke wrote:hey guys

i still get shivers down my spine when i hear the word fibo.
still can't exactly figure out how to use the TRO dyn fib sr
Here is a squetch i made at work ; it shows the way i'll trade next week.
1H light goes from green to red ; i'll ride the red waves down on the 5 min chart.
I'll even add a 1 min chart on the same screen, with stoch, to time when a 5 min red wave has run its course.

I WILL NOT ride against the tide !


U guys think i'll be succesfull ?


It doesn't matter what others think. All that matters is whether or not it works FOR YOU.
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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4stroke
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Postby 4stroke » Sat Oct 04, 2008 10:51 pm

TheRumpledOne wrote:
4stroke wrote:hey guys

i still get shivers down my spine when i hear the word fibo.
still can't exactly figure out how to use the TRO dyn fib sr
Here is a squetch i made at work ; it shows the way i'll trade next week.
1H light goes from green to red ; i'll ride the red waves down on the 5 min chart.
I'll even add a 1 min chart on the same screen, with stoch, to time when a 5 min red wave has run its course.

I WILL NOT ride against the tide !


U guys think i'll be succesfull ?


It doesn't matter what others think. All that matters is whether or not it works FOR YOU.
there's no strategy that will work for all.

i see dragon is doing awsome , with a KISS strategy , fantastic !

i have been overlooking various forums , everybody seem to be looking for that 1 golden egg.......

I'll give the TRO dyn fib a go too this week , have to learn to check and follow bias

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dragon33
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Postby dragon33 » Sun Oct 05, 2008 6:50 pm

Hey 4stroke you know how to contact me.

Post your charts on the forums so i can comment you by mail in our own language if it is to difficult to explain in English.

I ratter like to discuss it in the forums so other guys can learn and start seeing.

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4stroke
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Postby 4stroke » Sun Oct 05, 2008 7:16 pm

thanks Dragon33 !

btw,i'm at work , reading the BBpips forum again from page 1 .

Already at page 40 now , and i make notes of the important stuff

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