Look What I Made

[JimmyMac]

Originally Posted by ForeX Capitalist

Like I said on the pic * if it were that easy =) * which it isn't I'm still planning it out.

Nothing worth having comes easy. But that's not to say you can't make something work if you discover a style, edge or a unique set of occurances which you can take advantage of on a repetative basis?

That pair, GBPJPY is a cool customer, & you can certainly work it via the small timeframe charts if you get your plan & your head nice & tight.

Those spreads will definitely handicap you though when you take this thing live. Why not try run your tests/demo across on EFX's platform.

I believe their spreads on that pair are quite competative, down around the 2-4 pip level during London business hours.

Even with the commission added on, I'm pretty certain you'll receive a fairer & sharper service.

One of the critical elements when executing a scalping or fast timeframe show, is execution/fills. Doesn't matter what your risk management, size or spreads are - if you can't get unbiased & fast fills in & out, you're a dead man walking.

ECN-STP would definitely be the route I'd take if I were seeking a regular trip onto the sub 15min charts.

Good luck with your continued testing & demo work.

[ForeX Capitalist]

Originally Posted by JimmyMac

Nothing worth having comes easy. But that's not to say you can't make something work if you discover a style, edge or a unique set of occurances which you can take advantage of on a repetative basis?

That pair, GBPJPY is a cool customer, & you can certainly work it via the small timeframe charts if you get your plan & your head nice & tight.

Those spreads will definitely handicap you though when you take this thing live. Why not try run your tests/demo across on EFX's platform.

I believe their spreads on that pair are quite competative, down around the 2-4 pip level during London business hours.

Even with the commission added on, I'm pretty certain you'll receive a fairer & sharper service.

One of the critical elements when executing a scalping or fast timeframe show, is execution/fills. Doesn't matter what your risk management, size or spreads are - if you can't get unbiased & fast fills in & out, you're a dead man walking.

ECN-STP would definitely be the route I'd take if I were seeking a regular trip onto the sub 15min charts.

Good luck with your continued testing & demo work.

Indeed execution and fills are key because I noticed with scalping, 1 pip is the difference between life and death.

Many times have I seen it reverse 1 pip from my target just to tank out on me and just hit my stop loss instead lol so there goes my 3 candles worth $100 or so. If you can pm me the link for EFX id gladly check it out.

So i just learned I cant be a long term swing trader. I tried it out last night and im still open 2 positions and its eating me alive right now 200 PIPS and counting lol however during that time i've been scalping through here and there on the sideways movements so I can create a buffer big enough to take the loss hopefully It reverses a little bit. I hope it doesn't tank out more cuz thats alot of scalping to do to make up =X

anyways thanks for the input sir its well appreciated. take care and have a good one.


-ForeX Capitalist

[ForeX Capitalist]

Gotcha, nice they're in Arizona next door to me in California so customer service should be a breeze. Thanks man. I also see they're affiliated with MBT so it should be good low spreads like you said.


-ForeX Capitalist

[daedalus]

Whats the difference between EFX and MBTrading? I mean, the platform is the same, and EFX is essentially MBTrading, but how do they compare on fills/commissions?

I've been leaning towards EFX but i've heard their rollover rates are really high. What does that mean in terms of holding trades overnight, etc?

It very important to me that my daytrade entries are fast and accurate with low spreads, but its equally important that my swing setups don't hurt my bottom line unnecessarily due to my broker. Any insight would be helpful!

[ForeX Capitalist]

Originally Posted by daedalus

Whats the difference between EFX and MBTrading? I mean, the platform is the same, and EFX is essentially MBTrading, but how do they compare on fills/commissions?

I've been leaning towards EFX but i've heard their rollover rates are really high. What does that mean in terms of holding trades overnight, etc?

It very important to me that my daytrade entries are fast and accurate with low spreads, but its equally important that my swing setups don't hurt my bottom line unnecessarily due to my broker. Any insight would be helpful!

Yeah they're pretty much the same I dont know if they (EFX) charges the same $5 of comission per 100K units traded or whatever. but I'm still working on the platform and its not working for me yet their demo. It's giving me error messages like *this account is not approved for forex etc etc* when i try and place orders. I'll figure it out though.


-ForeX Capitalist

[zia]

I m new to fx.

It looks impressive. But, to trade in this fashion i.e 300 lots (lot side 100000 USD) - how much money should you have in a/c for margin (1:200 leverage)

If I had 5000 in my a/c. I was thinking I could trade 2 lots at a time comfortably without risking the order getting closed out.

Am I missing something?

TIA

[daedalus]

300 Lots X 100,000 USD = 30,000,000 USD / 200 (1:200 Leverage) = 150,000 USD account value.

[mustang]

Let's say you alleged friend trades with a tight 20pip stoploss, that represents 40% of his account seems very high risk trading to me.

[ForeX Capitalist]

Your chances of hitting it big with a 20 pip S/L is slim to none you must have entered the position perfectly and make sure all the price does is go straight down and not fluctuate up (highly unlikely because its bound to retrace or worse reverse @ 1 point or another) or else youre just wasting $ on the spread and your time.