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dragon33
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Postby dragon33 » Thu Nov 20, 2008 3:55 pm

xmess7 wrote:
xmess7 wrote:TRO,
Not only is NEVER LOSE AGAIN still active but there are threads about your return on babypips :). In one thread the admin got fed up and closed it LOL.


Ok here's some horizontal line trading.
Today's total 79pips, Done for the day :)
Image


Guys:
I wanted to point out something. This concerns the idea that TRO has been trying to teach us of FIX SPREAD BANDIT vs true ECN.

In the trade that I displayed earlier I was using FXCM. The spread at that time was 4pips for the GBPJPY. Not bad right?

Check out these numbers:
For each trade I paid the Broker roughly
4pips(spread) x $5(value per pip) = $20
I made 3 successful trades. Total that was paid on commission= 3 x $20 = $60.

Now if I had used MBT this is what would of happened:
Commission for each trade(enter and closing)
$.5 (I am using .1lots) * 4 lots = $2.00
So using my above trade I would have paid 3 x $2.00 = $6.00

WOW... I just gave away ($60 -$6) $54.00
This is not good... it will get worse when I am dealing with larger amounts.

Just something to ponder. MBT HERE I COME LOL.
:)


You $.5 in and $.5 out

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xmess7
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Postby xmess7 » Thu Nov 20, 2008 11:35 pm

dragon33 wrote:
xmess7 wrote:
xmess7 wrote:TRO,
Not only is NEVER LOSE AGAIN still active but there are threads about your return on babypips :). In one thread the admin got fed up and closed it LOL.


Ok here's some horizontal line trading.
Today's total 79pips, Done for the day :)
Image


Guys:
I wanted to point out something. This concerns the idea that TRO has been trying to teach us of FIX SPREAD BANDIT vs true ECN.

In the trade that I displayed earlier I was using FXCM. The spread at that time was 4pips for the GBPJPY. Not bad right?

Check out these numbers:
For each trade I paid the Broker roughly
4pips(spread) x $5(value per pip) = $20
I made 3 successful trades. Total that was paid on commission= 3 x $20 = $60.

Now if I had used MBT this is what would of happened:
Commission for each trade(enter and closing)
$.5 (I am using .1lots) * 4 lots = $2.00
So using my above trade I would have paid 3 x $2.00 = $6.00

WOW... I just gave away ($60 -$6) $54.00
This is not good... it will get worse when I am dealing with larger amounts.

Just something to ponder. MBT HERE I COME LOL.
:)


You $.5 in and $.5 out


Yea your right DRAGON. I should of made clear it was an estimate. I remember seeing that for some of the currencies it is higher than $0.50 it is is something like $0.65 so I was estimating.

But I hope they can see what the difference is. Someone in babypips told me to be "fair" and indicate that there is a spread or something like that.

I reiterated that the end result is what counts.

Anyhow onward we go.

Today I broke even. I got in trouble and hedged my way out. Once I got even I closed and called it a DAY no need to risk anything... tommorrow will be a better day :)

xmess7
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Postby xmess7 » Thu Nov 20, 2008 11:46 pm

Yes I am aware that there are spreads. I have used the practice account with MBT. But the end result is what counts. In the end you give away more when you compare the commission that MBT charges versus beating a "fixed" spread. In my opinion if I don't get filled then that is a good trade. Much better than a -pip trade.

Besides, since I trade the GBPJPY exclusively, in the past I would sometimes face 14 - 20pips spreads and beat them... so if and when I get into MBT if I see -1 spread for GBPJPY and the H1 Range is > 30pips man oh man time to make a killing!

As for FXCM being an ECN.. didn't know that. Nowhere in their documentation do they indicate that they will charge a set commission fee for entry and closure of a trade.

As for the comment concerning that "how do they make money if sometimes the spread is negative", I would conclude that they have risk policies in place that allow them to take certain trades etc etc when they deem it neccessary. Kinda like sorda the casino thingy....

Oh well... the writing is on the thread LOL...

PEACE

BlowFish wrote:Xmess be aware that just because there is no fixed spread on MBT does not mean that there is not a spread to pay. Of course you can enter limits but then you risk not getting filled at all :). You need to try it for a while to get a feel, it's a different animal if you are not used to DMA (direct market access). You do get spreads when the market is particularly quiet or volatile. Price still needs to trade through that spread for you to make pips.

pierre23
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Postby pierre23 » Fri Nov 21, 2008 1:22 am

As for FXCM being an ECN.. didn't know that. Nowhere in their documentation do they indicate that they will charge a set commission fee for entry and closure of a trade.


Well, it was my belief that they were an ECN broker.. but no, they do not charge commission so I guess they arnt.. Just a No Dealing Desk broker. I thought an ECN was someone who presented true spreads (not fixed) and FXCM seem to do that, at times I get the GBPJPY at 1-4 pip spread which is great. And have seen the USD/JPY drop to -1 - 0..

All I'm saying is they don't charge a commission, but, it seems like they ARE presenting true spreads.. And if they were making THEIR money off the spread isn't it in their best interest to have fixed spreads? But because they don't I'm guessing they are relying on the size of their company and their clients to offer true spreads and still make money. Just my one cent on the matter, then again, correct me if I'm wrong =]

Hey Jess, do you still use your fib strategy for trading?? You said your indi needed some fixing, just wondering if you got around to doing it?

Cheers
Pierre.

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flipin_around
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31 Pips in 1 hour 7 min

Postby flipin_around » Fri Nov 21, 2008 5:02 am

31 Pips in 1 hour 7 min aint bad. just started trading today using the attached chart.

The attached chart is 100% TRO's indicators. Probably way to much info but still profitable.

I am atempting to see the following on one single chart per pair, without having to switch between three or four charts and time periods.

1. The start of the hour candle ( The Buy Zone).
2. The 15 and 5 min Breakout Zones (Rule of Thumb and TRO_Break_Out).
3. Can still trade the Buzzard off this chart. (Both the H1 and M15).
4. The sweetspots are a realy good confirmation.
5. knowing where the market are for the differant time zones is a must in my opinion. (Open_Diff).
6. i may pull the Range indicator off to unclutter a little.
7. The Exit indicator is great for entry confermations also.

anyway I can see so may trades off one chart it is a must to keep all the rules simple. and it is very hard to keep from getting greedy.(get in get out QUICKLY)

was no sweat on entering but i found out thru paper trading that I have to limit out to avoid loosing a load of pips from the spread.
somtimes the market stops dead at my exit price even though the charts go down considerably past my TP.
Do you limit in limit out? or market in limit out? What is the best entry and exit stratagies?

Being new to forex I plan to keep trading small quantities for now.

attached are my trades for today using the charts like the attached.

-----------------------------------------------------------------------------------

15:00:51 13g0101:0djm-00 Buy 20000 EUR/USD @ 1.2529 Limit on MBTX [expiring: 2/19/2009] (20000 traded at 1.2511) Filled GTC xxxxxxx
15:00:51 13g0101:0djm-01 GTC session open Session Open
15:00:52 13g0101:0djm-03 Bought 20000 EUR/USD at 1.2511 Executed xxxxxxx
15:01:48 13g0101:0djv-00 Sell 20000 EUR/USD @ 1.2517 Limit on MBTX [expiring: 2/19/2009] (20000 traded at 1.25173) Filled GTC xxxxxxx
15:01:48 13g0101:0djv-01 GTC session open Session Open
15:02:01 13g0101:0djv-03 Sold 20000 EUR/USD at 1.25173 Executed xxxxxxx
15:13:49 13g0101:0dp8-00 Sell Short 20000 USD/CHF @ 1.2226 Limit on MBTX [expiring: 2/19/2009] (20000 traded at 1.2226) Filled GTC xxxxxxx
15:13:49 13g0101:0dp8-01 GTC session open Session Open
15:13:50 13g0101:0dp8-03 Sold Short 20000 USD/CHF at 1.2226 Executed xxxxxxx
15:23:46 13g0101:0dtu-00 Buy 20000 USD/CHF @ 1.2219 Limit on MBTX [expiring: 2/19/2009] Cancelled GTC xxxxxxx
15:23:47 13g0101:0dtu-01 GTC session open Session Open
15:25:07 13g0101:0dtu-03 Cancel submitted Cancel xxxxxxx
15:25:07 13g0101:0dtu-04 Order successfully cancelled Order Cancelled xxxxxxx
15:25:24 13g0101:0duu-00 Buy 20000 USD/CHF @ 1.2219 Limit on MBTX [expiring: 2/19/2009] (20000 traded at 1.2218) Filled GTC xxxxxxx
15:25:24 13g0101:0duu-01 GTC session open Session Open
15:25:24 13g0101:0duu-03 Bought 20000 USD/CHF at 1.2218 Executed xxxxxxx
15:30:13 13g0101:0dxw-00 Sell Short 20000 USD/CHF @ 1.2228 Limit on MBTX [expiring: 2/19/2009] (20000 traded at 1.2228) Filled GTC xxxxxxx
15:30:13 13g0101:0dxw-01 GTC session open Session Open
15:30:14 13g0101:0dxw-03 Sold Short 20000 USD/CHF at 1.2228 Executed xxxxxxx
15:30:47 13g0101:0dyd-00 Buy 20000 USD/CHF @ 1.2220 Limit on MBTX [expiring: 2/19/2009] (20000 traded at 1.2220) Filled GTC xxxxxxx
15:30:47 13g0101:0dyd-01 GTC session open Session Open
15:42:55 13g0101:0dyd-03 Bought 20000 USD/CHF at 1.2220 Executed xxxxxxx
16:00:53 13g0101:0elv-00 Buy 10000 USD/CHF @ 1.2221 Limit on MBTX [expiring: 2/19/2009] (10000 traded at 1.2221) Filled GTC xxxxxxx
16:00:53 13g0101:0elv-01 GTC session open Session Open
16:01:18 13g0101:0elv-03 Bought 10000 USD/CHF at 1.2221 Executed xxxxxxx
16:01:43 13g0101:0emd-00 Sell 10000 USD/CHF @ 1.2230 Limit on MBTX [expiring: 2/19/2009] (10000 traded at 1.22303) Filled GTC xxxxxxx
16:01:43 13g0101:0emd-01 GTC session open Session Open
16:07:05 13g0101:0emd-03 Sold 10000 USD/CHF at 1.22303 Executed xxxxxxx
Attachments
tro-rule-bz-buzz.gif
tro-rule-bz-buzz.gif (35.08 KiB) Viewed 1668 times

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pierre23
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Postby pierre23 » Fri Nov 21, 2008 7:51 am

talk about overkill lol, but whatever works for you!! well done on the pips :)

xmess7
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Postby xmess7 » Fri Nov 21, 2008 12:05 pm

pierre23 wrote:

Hey Jess, do you still use your fib strategy for trading?? You said your indi needed some fixing, just wondering if you got around to doing it?

Cheers
Pierre.


No BRO, I decided to scratch that effort. Using the Horizontal Lines approach provide alot more opportunities. With the FIBS, man you had to wait wait wait.
Perhaps what I might do is create an ALERT for the horizontal lines. That's all that the FibAlert indi was. The only thing left for that project was for it to automatically detect the fib lines instead of the user having to manual input them. Maybe some day or if requested I'll complete that. More than likely I will create a HorizontalAlert (man does that bring images to my mind LOL).

PEACE

xmess7
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Postby xmess7 » Fri Nov 21, 2008 12:06 pm

TRO no need to answer.
This is just a comment.

What is up with them people over at Trade2Win?
Man they say the hate the thread yet they are still there.
What a mess.

DO I have to show them my Trillion dollar trades ?? NOT!
LOL

Jan Viljoen
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Hi all

Postby Jan Viljoen » Fri Nov 21, 2008 12:58 pm

Hi all
I have been lurking in the shadows since the BP forum.

Today for the first time I traded without any traditional indicators, just some random lines and traded with the one hour candle.

Up 28 pips for the day. Could have been a lot more but I was happy with 5 or 7 pips at a time.

I hope it wasn't just luck.

Only time will tell.

Come to think of it I can live with 28pips a say everyday LOL

Cheers

Jan Viljoen

South Africa

Jan Viljoen
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MMM

Postby Jan Viljoen » Fri Nov 21, 2008 2:59 pm

Ok 60pips for the day. It was almost to easy.

Time to close the charts and wait for Monday.

Njoy the weekend cheers

Jan

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