Trading TRO SR RR style

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Fxtraveller
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Postby Fxtraveller » Mon May 18, 2009 1:58 pm

Note to self: if outcome of this week is positive, I will start trading double lots (0.02), one closing at 4-7 pips, and other run for 10+.

Note to self: Still trade break outs, hesitate on reversals. I do NOT break the rules, but I DO hesitate sometimes and miss out on trades.

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noone22
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Postby noone22 » Tue May 19, 2009 1:18 am

Fxtraveller wrote:but I DO hesitate sometimes and miss out on trades


Which order type are you using?
If market one - than it's clear, but it's not recommended to use
market orders, you know.

With limit orders - you need to put them in advance and there
is no hesitation involved - you may just cancel the whole order,
if price goes against you.

Fxtraveller
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Postby Fxtraveller » Tue May 19, 2009 3:02 pm

noone22,
thanks for the advice. before, Ive been doing only limit orders.
now, it depends on a lot of things:

1) price being too "jumpy", and my bandit broker fills me with slippage, thus I need to expect the price to go more to take profit.
2) when I turn on my MT4, the price is already 2-3 pips away from the trigger line, and, surprise surprse, I got 5 pips minimum from the open price rule. So I sit with my finger ready to click Buy/Sell.

So, sometimes I do use the limit orders, sometimes I just dont have time/ choice to put it.
cheers.

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PTG
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Postby PTG » Tue May 19, 2009 4:30 pm

I just found out that you can actually trade 0.1 minilots (1000 base units) with MB Trading; supposedly they are not a bucket shop. 8)

TRO is an IB for MB Trading.

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Postby Fxtraveller » Tue May 19, 2009 11:55 pm

PTG,
to my best knowledge the minilots or 0.1 are 10k or 10.000 units, and 0.01 is a micro or 1000 base units.

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noone22
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Postby noone22 » Wed May 20, 2009 1:04 am

Fxtraveller wrote:my bandit broker fills me with slippage

If you're not using MBT as a broker
- you're losing at least couple of pips per every trade.

What is slippage?
I've forgotten, what is slippage with MBT -
they're filling at limit price or better!

Sometimes you can buy at nearly bid price with them, not at ask price - as with usual "bandits",
and sometimes you can sell - at nearly ask,
usually - somewhere between bid and ask.
Is this possible with your bandit?

Moreover, their spread for major pairs during good hours
is 1 pip or less - sometimes half a pip.
Have you seen spread of 0.5 pips for EURUSD with Alpari?
I haven't, but I've seen 2-3-4 times more - why I would trade
with Alpari then: to give away 1-2-3 pips per every trade to
the "best broker in th world"?

You could say - MBT is charging the commission.
Yes, they do. But it is fixed, predictable, easily calculated, and is not so big.
In fact, their around $5 commission is less, than your 2 pips slippage.

It has been told thousands times on this forum
(by TRO himself and other gurus)
- to use MBT as best ECN broker for Forex,
and I could confirm, that this is really the best advice, advice # 1,
which any trader must follow, if he wants to trade Forex TRO-style.

If you're not following this basic advice - you're doing a
favour to your "bandit"-broker, but not to yourself.

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PTG
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Postby PTG » Wed May 20, 2009 8:37 am

Fxtraveller wrote:PTG,
to my best knowledge the minilots or 0.1 are 10k or 10.000 units, and 0.01 is a micro or 1000 base units.


You could say that, but then someone else defines it otherwise, as MB Trading does :shock:

At MB, which I am VERY satisfied about so far (see also comment above by noone22 to which I 100% agree), one lot = 10.000 base units, so 1.000 units corresponds to one mini. Or micro, as you wish. Main thing it's related to 1.000 units, that's why I put it in, in an attempt to avoid confusion. The rest are semantics as far as I'm concerned.

There is a solution against slippage etc. It's called MB Trading. One can start for a mere 400$ which is about 300 Euro's and check them out. TRO is an IB to MB Trading. It's worth it. 8)

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Postby Fxtraveller » Wed May 20, 2009 10:05 am

noone, PTG,
To be honest, it has been a hassle for a part time student like myself to open an account with a european broker. Im a carry trader + training scalping with TRO indicator. Until I double my account (about a year from now) I shall not try with an american one.
When I do, the I'll move some of the equity to the MB, just for scalping, I did like their demo, I have seen the "moving" spread in action, I did like the bid and equalling the ask.

p.s. TRO's indicators are that good that Im still winning with my FXbandit .

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rowdy
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Postby rowdy » Wed May 20, 2009 10:31 am

noone22 wrote:
Fxtraveller wrote:my bandit broker fills me with slippage

If you're not using MBT as a broker
- you're losing at least couple of pips per every trade.

What is slippage?
I've forgotten, what is slippage with MBT -
they're filling at limit price or better!

Sometimes you can buy at nearly bid price with them, not at ask price - as with usual "bandits",
and sometimes you can sell - at nearly ask,
usually - somewhere between bid and ask.
Is this possible with your bandit?

Moreover, their spread for major pairs during good hours
is 1 pip or less - sometimes half a pip.
Have you seen spread of 0.5 pips for EURUSD with Alpari?
I haven't, but I've seen 2-3-4 times more - why I would trade
with Alpari then: to give away 1-2-3 pips per every trade to
the "best broker in th world"?

You could say - MBT is charging the commission.
Yes, they do. But it is fixed, predictable, easily calculated, and is not so big.
In fact, their around $5 commission is less, than your 2 pips slippage.

It has been told thousands times on this forum
(by TRO himself and other gurus)
- to use MBT as best ECN broker for Forex,
and I could confirm, that this is really the best advice, advice # 1,
which any trader must follow, if he wants to trade Forex TRO-style.

If you're not following this basic advice - you're doing a
favour to your "bandit"-broker, but not to yourself.


I have had a demo with MB trading and I am satisfied. However, when are they going to allow live trading with MT4? As far as I am concerned this cant happen fast enough. As soon as they do I am opening a live account immediately.
All I need is Supply and Demand

Fxtraveller
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Postby Fxtraveller » Wed May 20, 2009 12:19 pm

TRADE N#6; -15 pips

2009.05.20 @ 14:01
EUR/USD breakout, at 1.3703, SL at 1.3688
went only 3 pips then reversed. Had plenty of successful breakouts during london session, but I was sleeping, traded at days high.
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