if your FXCM demo doesnt have the ability to accept the SHI channel or the LRC tool, then youre using the $50K demo, [B]and you know darn well you shouldnt be doing that ![/B]
if you go to their mini demo, you will be able to download the MT4 platform and use the named indicators easily — and if youve REALLY got $50K to trade and want to use FXCM (which is pretty good, btw) then you get no help from me, cause i dont go where there aint no LRC !
Yes I am trading a 50 K Demo at FXCM. To make the matters worst, I only plan to start with a capital of $2000-$4000.
But am not being a bad guy either. I start with a 50 K account and then bring it down to 5000 USD. I do this because last I checked, they do not offer a 5K demo on standard account.
I think I need to check their website again- I like their platform, it is very user friendly. I tried a couple of others they are difficult to navigate.
Thanks for pointing out, I need to check their site again. About a month ago they did not support MT4. but not sure!
seeing as how its a demo, why not bring it down to WHAT YOU WILL be trading with, although what you did was an excellent idea and i will pass it on to others, with your permission.
for the LRC, you can either use FXCM MT4 software (i believe they have it on the mini account) and then use all the indicators and keep that window open while you trade, having the best of both worlds, or you can get pretty much ANYONES MT4 demo and do the same thing with the indicators, as the true prices should only be off by a few pips here or there, which you will automatically interpret as you use it !
Please feel free to quote me on that–but am sure some platforms do offer a 5 K Demo. I just do it, because I am used to their platform.
I dont bring it down to what I will be starting with simply because I think I may even start with 5000.
I just downloaded the MT4. Looking at what it is. Looks like they dont have those price buttons, seems like in this you juts trade from the charts. (I think I have seen this before–may be Citibank Forex has that platform)
But they do have the H4 thingie in built- which is promising
Yeah that is right. I can get any ones demo. all I need is the indicators. And anyways I am not edward trigger hands. I munch on the trade for about 15 minutes before pushing the Button…
hmmmmmm – 15 mins of munching — guess you aint trading off the 30 second charts !
once you gets a chart up, press F9 and up comes the trading ticket — once you have a trade going in the “terminal”, you can dbl click on the trade itself to bring up the ticket, which allows you to close the trade immediately, or enter another trade.
unlike what you used to, if you go long on 2 positions of the same currency, you get 2 positions opened, not one that is the average of both buys — just a small difference hardly worth mentioning, but i always mention those hardly worth things a lot !
so far this week I am up at an alarming rate. Now I’m nervous.
I have adopted a new technique this week that some may find interesting. So far, a live account with $3719 on Sunday is now valued at $6391. Correct me if I am wrong, but… well… I’ll leave it to the critics as they amass in a line here, but, I was in a chat room here on babypips during both major trades that netted over $1k each.
Am I a little nervous… nah, but I am a bit hung over… nice little celebration last night in my robe and boxers with a little Crown Royal and a rum soaked cohiba or 2…
Just doing some stuff on the LRCs. Can you send me an URL to some good info on how to draw a LRC. I just use the insert LRC indicator on MT4-but is there a better way, like connecting Highs and Lows.
open google, type in “SHI_Channel_true” and dowload and install into your indicators folder.
while doing it, re-open google, search for “barrys support and resistance” AND “zig-zags” and download and install
hit me up again once theyre installed and youve prepared a triple latte double cappachino mocha deluxe with a shot of old overholt single malt scotch, and ill tell you what to look for !
Im new to forex and Ive been through the school of pipsology but can any one please tell me how I will know when market volatility due news has worn off.
Also please can you give me an easy way of avoiding news when I trade .Because I want to be a technical trader .
Ive been to forex factory for the forex news calender but it seems its an awfull lot to print out.
Can anyone with britght Ideas help me out!
Thanks alot.
You’re making it too complex Nabo. You can see volatility with your own eye. Put up an ATR on your charts, and you’ll notice that in the past 6 months, the daily range has shot up massively (all timeframes, but day timeframe is easiest to see this).
As for news, you don’t need to worry about everything. Less is definitely best. In forex factory, just look at the major events - flagged in red. That, plus any time anyone from the ECB or FED starts talking should cover 95% of news-related events.
“usually”, the first half hour to 45 minutes the price will travel in the WRONG direction, then followed by a reversal that takes it in the RIGHT direction — here “direction” means TREND ! Invariably, the price moves in one direction and reverses to where it will go for the rest of the day (as ive pointed out ad nauseum !) and one can feel theyre pretty safe after 12 - 1:30 EST (london market closes and everyone is now settled down to 5PM, EST !
as far as the news calendar, simply observe the times that news is released IN THE MARKET YOU TRADE IN. If you trade in the USA market, beware of news released at the usual 8:30 AM, EST or if news is released all during the day ! Trading during news is not a real problem, but youre correct in wanting to avoid it as much as possible until you become a superhero !
dont know if the above is a bright idea, but i spelled it correctly at least !
LOL
enjoy and trade well
mp
[B][I]Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !
As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence – BUT I KNOW WHERE THEY HID THE KEY !![/I][/B]
MP, are you picking on me… I happily admitt I cannott speeellllll
Super Hero you say, Hmmm. Well its been an interesting week. Account increases by LEAPS AND BOUNDS. But, so it is when one changes the learning curve. Still, I haven’t heard from you in a while Yoda.
I appriciate your willingness to share your knowledge, but I’m actually starting to get very nervous about my technique that I have adopted this week. I call it “double dippn” because I actually open 2 separate positions inside the same move. When it works, it works well. When it hasn’t worked, I’ve still been profitable… EVERY TIME I’ve used it. I’m worried.
I, and the 7 to 12 others that have been frequenting the chat area evenings, would be more than honored by an appearance by you there sometime.
