No trades tonight.
Only thing that looks sort of interesting would be AUDCAD breaking below it’s recent uptrendline and then proceeding to break below 0.9350. That’s on the hypothetical plane though.
Yes, I’m with Oanda and I have to say, inexperienced as I am, I cannot imagine a better broker.
I have an account with IBFX as well, no problems there either but they can’t compete with Oanda’s choice of pairs and spreads. Plus Oanda’s charting may suck but the rest of their application is actually brilliant imho.
Open a FXGame demo (they never expire) and try it out.
edit: btw as you might know already, with Oanda you can trade any lot size imaginable, everything from a 1$ position and up
No, I completely ignore Oanda’s price feed and make my decision based on the high/lows etc of my FXPro demo.
Everything but the execution on the demo.
Basically you could say that I pretend that the FXPro charts are Oanda’s charts, if that makes any sense. Seeing how I trade dailies, the petite discrepancies between different price feeds is of no concern to me and from what I’ve seen the difference in, for instance, the daily high/low is minimal if any.
No, not for a long time. I think he’s permanently gone.
When he registered on Currensee he accidentally first used his real name before quickly changing it (not fast enough though mwhaha), so I’ve considered looking him up on Facebook to ask where he went to.
Maybe I will do that some day
No, they match almost to the pip from what I’ve seen. Mind I don’t watch 1min charts that much but that’s what my experience has been.
None of them are me though. I did register when the startup hype was but then I deleted my profile which was quite a challenge. I’m probably gonn ahev to get myself a profile there again, it’s fast becoming a requirement for life.
USDCHF is beginning to look interesting, especially on a weekly view. Too much traffic so far, but something might be forming.
No trades though.
Yes I do - a calculator to figure what 2% of my account is and then I use Oandas order window
I use the market order tab for figuring my position size even if it’s gonna be a pending order.
Knowing how many € (my account currency is euro) I want to risk and also knowing the size of my stop loss, I then use trial and error to get the correct position size by trying different lot sizes in the units window after having filled in the stop loss in the ticked box. At the bottom where it says stop loss I can then see when that amount corresponds to 2% of my account - and voila, I have my position size.
Then I switch tabs to the limit order tab and use that lot size in my order.
Smoothest way I’ve figured out to do it.
Demo account order window:
Spent the evening doing other stuff and now I have to get some sleep so no time for charts tonight.
CADJPY looks kind of interesting for a break down and USDCHF looks better and better on the weekly but no trades tonight. There are always more setups coming and probably better ones as well.
Have a nice vacation!
NFP Friday is upon us yet again.
In light of that and the fact that there’s nothing very enticing on the charts I won’t be placing any trades tonight.
Some pairs are worth watching extra, such as the close of the EURGBP weekly candle. Silver and USDSGD may be worth taking a look at. that’s just from how the charts look right now. The may look very different come tomorrow night.
Sharp eyes noticing any difference here?
Oh yeah! Look at the Y axis!
That’s how you hide a drawdown - change the scale of the Y axis so it looks smaller.
Now the Y axis goes all the way to zero, which is what it should have done from the start of course. But I’ll bet that Joel Kruger was thinking that his profits would look bigger by cheating with the Y axis. Shame that he got losses instead of profits…
Currently as I’m writing these are current prices of his stop loss-less trades:
GBPAUD 1.6629 equals drawdown of 21 pips equals negligible drawdown so far
EURAUD 1.4988 equals drawdown of 187 pips at 5X account size equals -6.3% in current drawdown
EURCAD 1.3981 equals drawdown of 369 pips at 5X account size equals -13.3% in current drawdown
Currently his closed trades have put his account at -20% since start at new year. He’s currently holding positions without stop losses that, if closed right now, would incur a 19.6% account loss. I feel for any unfortunate souls that might be following his signals. Since I don’t I can afford to gloat :D. I decided to learn to trade for myself and right now that’s looking like a pretty good decision huh?
Again, remember that this guy is part of the well known DailyFX website which is part of FXCM. He ought to know what he’s doing but I’ll bet you that he’s going to be looking for a new job unless things go his way soon. In any case what he’s done is highly irresponsible and pure stupid.
To paraphrase Clint Eastwood:
Before you trade without a stop loss, you’ve got to ask yourself one question: ‘Do I feel lucky?’ Well, do ya punk?
If anyone new to trading would be unfortunate enough to stumble upon my thread, the above is all you ever need to remember if you consider trading without a stop loss.
There you go, a nice little Friday afternoon rant 
No, I’ve never had any need for it. So far I haven’t experienced any slippage at all really.
First pending order of March.
EURGBP printed a very nice weekly pin bar last week and the greater view shows that we’re nearing the apex of a triangle. Price is likely to go somewhere and price action suggests to me that the higher probability is for a break down.
We have MACD divergence from the last major high
Quite nice pin bar reacting and closing just below the 0.90 PPZ
There should be potential to at least reach the lower triangle line and possibly follow along on a break south or be stopped out at BE.
Risk: 2%
Charts:
Again, this is in no way trading advice. If you’re crazy enough to join me in my trades, the losses are your own!
I promise I won’t pick more on this guy after this.
Today’s email contained this though and I just had to make a post about it.
Today he made a big deal out of having closed out the GBPJPY long for 330 pips profit. Well congratulations, well done. Unfortunately he forgot to also add that his stop loss-less GBPAUD went the same way today as his other two stop loss-less positions - into drawdown.
Now, here’s the beautiful part. Look what happened to the Y axis scale when he wants to show how the GBPJPY trade has affected his account. I wonder what that Y axis would have looked like if it had been a loss… :rolleyes:
This is a picture perfect example of how deceitful and full of crap the world of trading is. Even DailyFXs Joel Kruger plays these dirty little mindgames.
The sooner we learn that, the better for us. Trust in yourself and learn to trade for yourself.
Screenshot with my highlighting of the fun parts:
IB are something that I’m not doing much right now. I do plan to include them. The Gold trade seems to be on its way.
Give Oanda some time, I wasn’t impressed with their UI at first either but it grows on you, it did on me at least.
EURGBP hasn’t triggered yet.
Btw I forgot to post my entry level and SL:
Enter short at 0.8945 with SL at 0.9160
Order still stands.
Well, I’ve spent some time being unable to decide whether to place a pending short on Silver around 17.00 but I’ve decided to let tomorrow play out and see what it gives us on the charts.
I looked at AUDCAD and Gold as well but Silver was more attractive imo.
No new orders tonight.
Hi MH
Are u still using the trading method on the your first post on this thread?
No I’m afraid not. After having gone through the system jumping phase that almost everyone go through I’ve ended up with Price Action and support/resistance concepts.
Closest description would be something similar to what this thread teaches: james16 Chart Thread @ Forex Factory