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.
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?
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?
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.
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.
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
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.
[U]Open Positions[/U]
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.
[U]Closed Positions[/U]
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
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! :rolleyes:
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!!!
As far as i understand that the oil is not traded 24 hours a day but here i have the most important question the oil is going up and down in price and i still have the same problem when i tried to close the trade it says trade is disabled what is going on??? that is crazy
So Dale u mean that our system can be applied with the Dow…
and how about the move of them i mean are they moving fast like the forex pairs? like going up and down fast like them???
I don’t know why you’re having a problem with Oil - at which broker are you trying this???
As far as the Dow is concerned - no - it’s NOT like forex pairs which are, like I said previously, ‘fickle’ in my opinion. The indices trend far more often than forex pairs and they don’t have that ‘choppy sideways’ movement too often.
Why don’t you open a demo account at Delta - you can have a look there to see what I mean. Otherwise open a demo account at GCI so that you can have a look at the Asian indices - they’re the best - it’s just that the trading times are awkward (depending on where you live of course).
Edit:
I have attached some charts so that you can see what I’m talking about. The charts are daily’s for the Dow, MSCI Taiwan, and the Nikkei 225 from about March 2007 - September 2007 (to date). I have applied ‘our systems indicators’ to these charts - have a look see!
I subscribe (free) to ‘Investor’s Daily Edge’ and I have attached a copy of today’s newsletter (in Adobe .PDF format) for you to have a look at.
The main article is entitled ‘It’s Time To Think Long Term’.
Have a read.
Although it is mostly about stocks the writer puts in words (in a way that I cannot) the importance of ‘not bailing out early’ (my ‘summation’ of what he is saying).
He also has much to say about short-term trading and investing (our ‘learned candletick traders’ should read this) in a way that make sense to me.
“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.”
I agree with you Dale, which is why I moved my stops to at least break even this morning, and locked in profit on some of the pairs. So far this week, I’ve locked in 3.5% profit, with another 3.5% floating. Maybe it’s not as good as pro traders, but for a guy just getting started it’s a blast! Heck, my retirement account is only getting ~12% a YEAR.
Question on trading indices: are you able to trade on margin like with forex? Does the PSAR system work better or worse? I guess I’ll have to open a practice account and try it out.
Dale thanks alot for the charts i feel they r like forex and as i saw with the cahrts they really doesn’t have sideways movements!! i will give it a try with my boker i think they have them but i have to ask them to add on my platform let us see i will tell u what i will do
Ok as for the oil as i told u the oil market i not 24/5 opened it is 12/5 so when i wanted to excute the order the market was off that is why i can’t close it but i closed when the europian market opened with a little loss guess what it is hikking up now!!!
Yes - you trade the Indices etc. etc. on margin - but the margin percentage / leverage is not as high as on forex (50:1 or 100:1 but NOT 200:1).
The Indices are more ‘stable’ (for want of a better adjective) and I find far more ‘predictable’ i.e. there are always news reports on Bloomberg / CNBC and there are no ‘secrets’ (like somebody ‘dumping gazillions of Euro’ and you only find out after the fact) i.e. it is SUPPOSED to be regulated. If you REALLY get serious about it you can ‘study’ or ‘research’ information on each underlying company whos shares form part of the index in question (hell - you can even buy the individual shares in a company if you’re good at analysing certain markets and the effect that they will have on a company’s shares). To me - that’s REAL trading (no offense to anyone and I’m not there yet myself anyway i.e. I’m just trading using one or two of Mr Wilders trading systems AND our beloved Parabolic SAR ‘system’).
I find the indicators work FAR better with these type of instruments.
Maybe not as ‘exciting’ as forex - but I’ve had MORE than my fair share of excitement in the last couple of months - and besides - there is NOTHING more exciting than making money at the end of the day!!!
