Hi PipBandit,
You’re right about partially closing open positions on FXCM’s MT4 platform for US traders. Just to be clear, you can place an opposing market or entry order to partially close open positions, just make sure to change the volume on the order window.
Hope that helps and let me know if you have more MT4 functionality questions.
Thanks for the advise PipBandit.
Hi Kyle,
Good to see youre still into it Kyle. Its getting a little easier now isnt it? (still got a lot to learn though) Im using FXCM tradestation II for my trading orders and MT4 for the charts only because FXCM tradestation was the first demo account I opened. When I open my live trading account I think I will go with Go Markets in Melbourne. My friend uses them, I had a good look at their website and it looks pretty good. I think that I recall that you mentioned their name some time ago. Anyway, night off tonight, kids are out so I`ll have some quality time to sit in front of the computer!
Regards
Stephen
Hey Steve,
You are correct with me using GoMarkets. nice tight spreads and local (Australian). They also have good on the phone support and the volumes, which are so important with this, are quite good in comparison to some others. FXCM vol’s are also quite good, but higher spreads.
All just my opinion though 
I’ll be home from work in an hour or so, then will be doing some reading and analysis
Kyle
Hi All,
I have been looking at the EUR/USD for the past few hours trying to work out the current stages that the currency is in.
I have labeled what I think is going on and was wondering whether the more experienced indivduals here could have a look and ascertain if I was on the write page.
Thanks
Stephen
I’ve been looking at it too, and considered going short when the candles at the Daily R3 didn’t pierce the top and the following candles were so low volume. However, I do not see any Distribution phase happening here, the volume is simply too low.
To me, it seems the big money has stopped participating in the up move, leaving price no where to go but down. I still believe they are positioned long, possibly waiting for better prices at a 50-61.8 fib to enter again.
Thanks for your analysis Dodge. I see where you are coming from.
Just had the highest volume for the day there. Possible stopping volume, wick right at the 61.8 fib. Looking for a reversal and no volume test, then going long with the next candle closing above the no volume test … if it happens.
mmm just passed 61.8 - no buyers still at the moment???
Long
Quick update:
Dodge,
In regards to your previous analysis, the volume now associated with the bearest bars would therefore indicate that there is a lot of selling occuring with professional money willing to absorb prices because as you said they are still still bullish and looking at higher prices. Yes?
Regards
Stephen
Looks to me like the buying pressure is returning. GBP/USD looked like a better entry, so I took that. Currently up +30 pips.
Thanks again for your comments Dodge
Muchly appreciated
Stephen
I’ve taken the same trade Steve S/L back around the 1.43750 mark. Just waiting for it to break 1.44172 mark, then should go higher hopefully. Thinking of tp around 1.44604??
Missed my TP by 2 pips, hit BE + 1.
I need to get better at determining when it’s not going to hit my TP and exiting my trades when close.
I was about to exit half the trade but I noticed a No Supply bar so I thought I`ll wait a bit longer.
There’s a good chance it’ll get there, but it highlights how important market timing is, it dies around this time as you can see, so there’s a chance that something could make the market change direction before it gets there, if it was 2 O clock in the afternoon (GMT) it would be a ‘dead cert’, well a much higher probability of getting there.
Closed half at +22 and set SL to BE?
You copying me? :13:
