I saw this same thing on that day. The difference was as high as 60 pips. Should be a way to take advantage of this. It’s like betting on a horse race and knowing the winner. In any event it’s a little unnerving that this is occuring in the first place. I’ve seen the same thing with a number of brokers as they all seem to play games.
The problem occurs when you’re using one broker for charting and another for the actual trades as I do. I was in the middle of making a trade at the time and noticed the 60 Pip difference. I didn’t make that trade and it pissed me off. The problem that time was Trade Station. I also saw the same thing on a Forex.Com demo account.
So if you’re looking for the perfect broker I don’t know which one that would be. I know there is a site for reviewing brokers. I will look for it and if I find it I will send you a message.
Ya, I noticed that I need to reduce my lot size by 3 or 4 and just average in because it is hard to know where the bottom will be. By the way, how many pips do you aim for? Or is it anything you can get? lol. Shr1k, PM me your email address I have a useful indicator for you
I’m on my mobile for now, so forgive my shortness.
RCarter, I meant what you typed about switching time frames…thanks for the 2lwma suggestion…you skip on the 4lwma now? I remembered you using it all previous lkike.
Yeah johnnyB if you got some post em on my wall, I don’t have 50 messages in yet.
Regarding fxcm, a guy showed a screenshot from 3-4 years ago, same thing…many peeps saying
A deliberate slow down on the price feed, dunno myself.
I picked up 40 pips last night on some bollinger bounces, was slow definate I caught a few retraces on the 5m even…needs to be like that everyday…heh
1000 pips for the win…hahahh…go go go!
I heard he promised everyone a bottle of wine from his personal winery in the south of france when he does it…
My profit target is to get out while the gettins good. 5 to 10 pips is great less than five is good, break even is fine.
I just did some metrics on my weeks trading using the overbought/oversold scalping I described combined with the MM scheme I outlined.
27 trades
85% win rate
The average size of each of the 4 losers was the same as the 23 winners in $.
so real R:R per trade is 1:1 based on this small sample. So far the high win rate and compounding makes the account balance go up pretty fast.
Sorry no fancy graphs from myfxbook I am using my FXCM account for a change.
Can’t argue with an 85% win rate though I’m not a 5-10 pip scalper either, minimum I go for is 20pips usually.
Have you considered what would happen if you could increase it to 1:1.5 or not possible for the session you trade?
RC - BTW, are you using the same settings on all your FX pairs or just the MAs you mentioned a while back for GU? Just interested as each FX pair probably has a slightly different tuning (part of the reason I only really follow most of them on the Daily)?
Nice going Robert you deserve it. Are you giving rides in your new Rolls. Better make a lot before the new government taxes the hell out of your profits. We may all have to trade with Russian accounts. Looks like “stupid” isn’t just in American government. Looks like we have Dumb and Dumber leading our countries.
So, if you shoot for such small amounts of pips how big are your losses? I think I remember you saying 20 pip stops or 2% stops. I’m nearly done a cool project, once I am I will give you an email, should be within a day at the latest
Looking closer at my trades I think the small losses are a portion of a position I averaged into that as a whole got closed at BE or a small profit. I have been going with a 4% daily loss limit for now. This is a small account but even so someone that risks 2% per trade and makes two trades a day could lose 4% a day.
I close my losing trades or positions based on how much money they are sucking out of my account. I always try to close them out before I reach my daily loss limit that way I can keep trading. I try and put a stop that if its hit will be around my loss limit. that gets a little tricky if I have trades in multiple pairs going at once. That’s one reason this is eyes on, in that situation an internet or broker problem could lead to a larger loss. Nothing in this game is risk free.
I see you’re using regression lines now. I’ve used those on one of my charts for a while now but I don’t exactly use the Regression Line indicator. Have you tried using the Regression Curve indicator in the same way? You might find it interesting.
I have a regression indicator line on the MT4, its not similar to your MarketScope, so until Sunday on that one.
Many Shorts opened at 1/4 inch below previous close. Looking deeper, its entered below the opening for that day which is of course, below the close of the previous day, looking deeper, for the shorts, its a down close-up close-down then enter (except Aud/Usd) , looking deeper, shorts placed more than 1/2way into the day’s bar.
Guys, I’m updating the page 1 thread with a list of key posts.
If you have any bookmarked posts that you might have saved yourself could please PM them to me and I’ll add them.
Thanks
Robert and anyone else with some thoughts or comments,
I’ve got a question RE: time frames vs trading objectives. Let’s see if I can ask it in a way that makes sense.
[B]Doesn’t account size and trading objective dictate the appropriate trading time frames? [/B]
[B]or am I missing the boat?[/B]
For example let’s use two different objectives for trading FX.
Objective #1: Taking a sum of money and attempting to earn a better than average annual return with appropriate risk/reward ratio. The type of trading that might be done for high net worth clients, asset management, running money.
Objective #2: Building a stake, starting with a small sum of money and with appropriate risk/reward compounding the original starting balance many times. ie: the compounding 2% per day spread sheet.
For Objective #1, I would think consistently booking a +20% annual return on a 10 million unit account would be something to get excited about.
With Objective #2, the same +20% annual performance with a 1 thousand unit account wouldn’t even pay for the coffee, right?
After trading FX for 14-15 months (and losing lots more than winning) I’m under the impression/assumption that:
Objective #1 running money = trading long time frames
Objective #2 building a stake = trading the more difficult shorter time frames. (aka getting your ass kicked a lot)
I’m I right or wrong?
Because if my impressions/assumptions are off base I’d love to figure out how to build a stake on the longer time frames.
You’ve quickly and clearly demonstrated that my impressions/assumptions re time frames & account size are off base LOL!
So it is time for me to rethink my approach, take what I’ve learned trading and following PA on the 15m and 1H charts and apply that experience to the larger time frames. Its all scaleable right, can trade the 4H bolls pretty much the same way as the 15m!
What I’ve been doing really isn’t getting me the results I’d like so why not try something new! I’m going to spend a few days reworking my trade sizes risk/reward etc. I have an account with Oanda, they allow complete flexibility in trade size, down to a penny
Also, I live on the east US coast and have to admit that trading for 20-50 pips in the middle of the night is taking a toll on the rest of my life, not to mention a lot of sh*tty half asleep trades! :eek:
I respect your opinion, point of view and appreciate your advice and help, [B]thank you![/B]
Back a few months ago I spent some time studying some of the “old school” PA pattern trading methods, Dow, Gann, etc. I didn’t find the “old school” stuff all that useful or reliable on the 4h and under, but on the daily it was a different story. At the time I was thinking the “old school” PA stuff and something like a 10 or 14 day bolls might be a pretty nice simple method. Maybe I’ll take Gann’s “old school” patterns and your “new school” high/low linear regression lines on the daily and see what I come up with!
