Parabolic SAR - that's all!

[pip huntter]

Originally Posted by dr_zeus

Ditto Akram.

I'd like to know how trading indices and other commodities works - I've only explored forex. Also, I'm starting with a very small purse and it looks like Oanda is the only reputable broker that will allow $1 trades - what are Delta's minimum trade and account sizes? And how strong are they financially - since Oanda had a $100MM capital infusion recently I feel very good about getting my money out of them.

hello DR_ZEUS,

i know that oanda is very reputable broker like Delta and stifx i don't have an account with delta Dale is an expert with these people as he has an account with them.As for me i can tell u very confidently that STIFX is one of the best broker as they excution is very fast and they don't trade aganist there client not like my other broker i sued him for 1 week and i discoverd he is a real scam they have a very nice website but i don't recommend any one to go with them as i felt a huge difference when i changed them.

Regards,
Akram

[pip huntter]

Akram:

OK - well - I trade all of those instruments (my 'main business' I suppose) at GCI Trading. Delta has just gone live with most of the instruments that I mentioned though so I will be trading them at Delta as well just as soon as my new (revised) Customer Trading Agreement has arrived back in Bulgaria (they will not allow you to trade with them UNTIL they have the original documents due to legislation and there is an additional agreement that now has to be signed in order for you to be able to trade the new instruments) - which should be by tomorrow morning. There are 'subtle' differences though i.e. stocks etc. etc. are not as 'choppy' or 'fickle' as forex (at least that's my opinion) i.e. they seem to be a lot more 'calm' or 'serene' (I'm not quite sure how to get my point across here). And yes - you trade them on exactly the same platforms exactly the same way (OK - YOU know that I use the trading systems in 'New Concepts In Technical Trading Systems' for trading these instruments BUT I also do use Parabolic SAR and 'our system' and it seems to work EVEN BETTER on these type of instruments). I'm not advocating that anyone 'drop forex' but - for me - remember that when I started this thread - I had a little bit of money at Delta (where I could only trade forex) and pretty much just 'took a chance' one day with Parabolic SAR and that 'rekindled' my interest in forex trading and the idea was to just let my forex account 'handle itself' while I concentrated on my 'real business' of the Indices BUT - mainly because of this thread I suppose - I'm now dedicating a lot of time to forex trading.

Regards,

Dale.[/quote]

OK Dale,

that sounds good i remmeber now when i was doing the contract with MY BROKER STIFX they allowed in there platform other stuff than forex but i didn't choose them coz i didn't understand what they are about!!

So when i trade the DOW AND NASDAQ every point it means 10$ if i use 1 lot? or they calculated it in a different way? not like forex?

Regards,

Akram

[pip huntter]

Dale,

i went stupidly to open an unvalied postion for the oil and i wanted to close this postion coz i was looking for fast money on them any ways i wanted to close this postion and it seems that the oil is not a tradable 24 hours a day is that right? coz when i clicked on closing the postion it says trade disabled same like when u do that on any pairs over the weekend u get the same massage can u explain why i have this massage?

Regards,

Akram

[dpaterso]

dr_zeus:

I know it looks REALLY good - and if you were happy to take those PIP's now - then you'd have been OK - but I 'guarantee' that if you are using 'our system' those PIP's will dissapear by the time you're stopped out by Parabolic SAR on the daily.

captain.findus:

EURCHF is looking good - no PSAR signal yet (although it HAS been penetrated), RSI OK, Stochs OK, ADX OK, BUT no MACD cross yet.

Akram:

An example: for every 1 point move on the Dow it's $10 (that's on a $500 lot) - on a $50 lot - every point move is $1 (that's at GCI). At Delta - I don't know yet - waiting for them to be added to my account (tomorrow I hope). By the way at Delta you would be trading the ACTUAL index not the futures index (like at GCI) so at Delta you can only trade these instruments during market hours (whereas at GCI you can trade them 24/5).

Also - just a word of warning - not all indices are 'created equal' i.e. a mistake or bad trade on the Dow is one thing - a mistake or a bad trade on the DAX is whole different 'ball game'. Whoever you decide to trade these with will give you details of the margin requirement and the point value.

Here are GCI's for you to take a look at:

GCI Financial Ltd - Online Forex and CFD Trading (Standard CFD Account)
GCI Financial Ltd - Online Forex and CFD Trading (Mini CFD Account)

The difference between the two accounts is the minimum cost per lot i.e. Standard CFD Account - minimum $500 per lot - Mini CFD Account - minimum $50 per lot. Also they offer (some) different instruments.

As for your 'oil problem' I think this is why:

Deltastock Inc.

I am assuming that Delta's trading hours for oil coeincide with the NYMEX's trading hours.

Regards,

Dale.

[dpaterso]

BTW - if you want a 'hot tip' on this stuff: the Hang Seng Index is going to correct sometime VERY SOON - NO QUESTION.

Regards,

Dale.

[robstyle1980]

Evening... or morning wherever you may be.

I was going through some threads and started reading some naysaying in the way of indicators and pretty much everything we're doing here. It seems some folks would rather trade "pure" in the sense of not using indicators and touting that indicators are nothing more than delayed reactions.

Well my reaction to that is, why not use the indicators while they're offered? They're made to help the trader in determining good trades whether they are delayed reactions or not. Why try to squeeze every pip out of the candlestick? I mean, if you like sitting there all day, every hour, watching each pip change and each candlestick move to determine your trade, then go for it. It's like deciding not to use the fridge in your apartment to keep your food cool. Or growing corn, hand picking it, drying it, building a fire, throwing the kernels in a pot, and waiting for it to pop rather than just sticking a bag of popcorn in the microwave. I, however, will not. Call me lazy, but I don't wanna grow corn or count pips. I will use the indicators offered and enjoy buttery popcorn in 3 minutes.

What they offer is a quick visual representation of what has happened so that I can determine my course of action without having to glue my eyes to the screen to watch every move. Sure the information you are getting already happened, but so what? Part of the game. No one can see into the future (at least I haven't met anyone). But with a good visual representation of the day's, week's, or even last couple of hours action, you can get a good idea of whats going on. You CAN even predict what may happen just by looking at the curve of a line.

Okay, I had to vent and possibly reassure my confidence in indicators. It seems the naysayers are quick to judge indicators... maybe cause they actually work for the most part?

That is all. Here is the article that someone posted on another thread on this page. Can't remember... I lost it after reading the article. Think it was under a thread called Faith in the Newbie Forum. Don't remember the author of the post. So, if you want to read and see why I needed to vent... Candle Sheds More Light Than The MACD

[Bocajunior]

Good Morning,

How's everyone and good to see the thread gathering quite a following now.

Here's the latest on my positions. It has been some time since an entry on the PSAR system has been taken and most of these trades are now approaching two weeks old. However, yesterday I did have the opportunity to re-open my NZD/USD Long position based on indicators on the 3H time frame at Oanda.

I was tempted to re-open previously profitable XAG/USD Long, AUD/NZD Long and USD/CAD Short, but for various reasons decided against it.


Open Positions
AUD/JPY Long (Re-opened position after reversal signals on 3H time frame)
EUR/AUS Short (SL set on 3H timeframe to lock in profits)
EUR/JPY Long (SL set on 3H timeframe to lock in profits)
EUR/CHF Long
GBP/USD Long
NZD/USD Long (Re-opened position after reversal signals on 3H time frame)

All of the above are showing profit with the exception of GBP/USD which is currently at a loss, though it is coming back close to break-even level now.



Closed Positions
GBP/USD. Closed manually for a loss after Fed rate cut. -50 pips
USD/CAD Short. Stop Loss on reduced time frame for +350 pips
XAG/USD Long. Stop Loss on reduced time frame for +5000 pips
AUD/JPY Long. Stop Loss on reduced time frame for +180 pips
AUD/NZD Short. Stop Loss on reduced time frame for +100 pips
NZD/USD Long. Stop Loss on reduced time frame for +190 pips

No new closed positions to report.

Cheers all

[robstyle1980]

Me again... LOL

Seems as soon as I post something, I find or think of something else.

This is just something I found on this site. Kinda funny when you look up from the thread and see something you've never bothered to check out before. Well, I looked up and saw the big green button labeled "Tools" and clicked on it. Its just like the link Dale had sent a ways back with the calendar and upcoming events.

Just thought I'd share if you want to use events such as these to determine your trades.

Of course, everyone has probably already explored this and it just took me this long to find it!

[Bocajunior]

Just looking at the Oanda chart of GBP/CHF, a possible Long position my be forming in the next few days or so.

Scott

[dpaterso]

Bocajunior:

The operative word is 'POSSIBLE'!!! I got a Parabolic SAR entry (stop and reverse) signal last night ast Delta and MACD had 'ALMOST' crossed BUT this morning it sure looks like the MACD MA's are turning away from each other!!!

robstyle1980:

I love the way you put things!!! Thanks for the post.

I'll tell you something funny: I have a book - a very good book I might add - that starts out by 'attacking' indicators and saying how useless they are and that they should not be used as they all lag behind price and blah, blah, blah - and then - about a third of the way through the book - after going through some really amazing albeit hard to understand trading methods - guess what 'pops up' on a chart??? Why - MACD of course!!! And some more indicators!!!

Look - I don't think that there is a right way and a wrong way anymore. Obviously in the last couple of months I have looked at candlestick patterns and indicators and everything else and - from where I sit - for every 'indicator trade' that has gone bad there is an equal number of 'candlestick trades' that have gone bad and visa versa.

I think that there is merit in 'candlestick trading' IF you are trying to 'scalp' the market on the shorter timeframes - but - that has always spelled disaster for me. Long term - indicators only!!! I mean - as much as I can't handle the 'bullsh1t' that most of the analysts on TV 'spew forth' - in the LONG term they're normally right - and - guess what - when they've got a Marc Faber being interviewed - or an economics 'guru' being interviewed - or an extremely highly paid trader being interviewed that actually works for one of those 'top notch' Wall Street firms being interviewed - to give their educated 'opinions' on where a price is going - they don't sit there and say 'oh well this is going to happen because a doji has just formed so watch out' or 'I see an inside bar has formed here so the price is going to go there' - they ALMOST ALWAYS refer to RSI and Stochastics (at very least) - so - that's all I need.

Bottom line for me - indicators (especially Parabolic SAR) work for me - so that's what I use. As you say - indicators WON'T squeeze the last PIP from a candlestick - but then I don't need to do that - I'm not that broke!!!

Thanks for the post!!!

Regards,

Dale.