What question was that??? LOL!!!
This is too funny (given the content of this thread and when it was started) i.e. this received late this afternoon (Deltastock reduced spreads):
If this carries on we’ll be at NO spreads in NO time!!! LOL!!!
Regards,
Dale.
This thread reminds me of this:
But to be honest I had the same soul search when I moved over from futures to spot forex, and started using MT4.
Confused the hell outta me for a bit!
My futures platform has charts that are constructed from the “last”, so there is no real bias. And it is straight commission, so there is no spread.
But nowadays, I don’t have my stops anywhere close enough to dictate the difference between one or two pips.
Great Video, Thanks for sharing that, well worth watching everyone.
Good morning,
LOL!!!
Thanks Master Tang. I think you’re right (about the thread)!!! LOL!!! While I was watching it I was imagining some of us sitting around at a table in a restaurant discussing this ‘spread issue’. ‘Throw in’ a couple of drinks (or more) and it would have been quite interesting!!! LOL!!!
As I’ve noted before on this thread (and just mentioning it because of the information that you’ve just provided about your futures platform): I don’t see the reason for even HAVING a spread at EITHER a fixed spread OR a variable spread broker i.e. the spread could simply be treated the same way as commissions (well: commissions are charged on both the opening AND the closing of a position on futures but I’m sure it would be easy enough to ensure that the ‘spread charge’ is only taken when the position is opened).
Ironically (and as I’m sure you know): my stops too are usually MANY MANY MANY points (well: sometimes pips) away so that’s not the issue here. But you’d be surprised sometimes what a difference the spread and the value of your ‘couple of ticks above the high of your signal bar’ can make i.e. if there is such a thing of ‘stop running’ then that is where it happens (and I don’t mean ‘stop running’ by the broker i.e. just ‘normal’ price movement). OK: if the truth be told I AM INDEED trying to evaluate one of Wilder’s trading systems on the 1 hour timeframe and I can tell you that the shorter the timeframe the more of a difference this little ‘issue’ makes.
SLIGHTLY ‘off topic’: I’ve noticed that spread betting brokers tend to implement margin requirements differently and I’m wondering why. In other words: ‘normally’ when you open a position a certain amount of margin is reserved at that time and that amount of margin is reserved until the position is closed. With spread betting brokers (well the one or two that I’ve looked at anyway more for interest sake and to compare price quotes more than anything else): the amount of margin reserved takes the value of your stop loss into account and the amount of margin reserved is adjusted accordingly. In other words: let’s say that you open a position on the Dow and the INITIAL margin reserved WITHOUT a stop is for example $100. If you then place a stop so that your potential loss is for example only $50 then the margin reserved for that position is reduced by $50. Of course: conversely if you place a stop WAY away then the amount of margin reserved increases. I’ve not really been able to figure out the reason for doing it this way i.e. if there is any benefit and if so to whom. Anyway: I SUPPOSE that’s ‘fodder’ for another thread (although I’m not going to ‘lose any sleep’ about THIS issue i.e. I’ve just been meaning to mention it SOMEWHERE for some time now so I figured that ‘this was the very place’)!!! LOL!!!
(And please: before anybody posts to tell us that ‘you have to pay the spread so deal with it’ please read the thread FIRST)!!! LOL!!!
Regards,
Dale.
you have to pay the spread so deal with it
:D:D:D
You know: when I made that statement I just KNEW what was ‘coming my way’ from YOU!!! LOL!!! I’m just surprised it TOOK that long!!! LOL!!!
Regards,
Dale.
Great Minds and all that, I was thinking you put it in there especially for me.
Nope: DEFINITELY not for you (you should have known that)!!! LOL!!!
I’m busy trading the AEX on the 1 hour chart doing my ‘test’ and I’ve a feeling that if things keep going the way they are I’m going to be able to post a ‘primo example’ of why this this ‘spread issue’ is important!!! Let’s see what happens.
Regards,
Dale.
I will seriously look forward to that, because so far I just can’t see it.
TRUST me!!! LOL!!!
But I’ll tell you this: it is beyond me how anybody can make money on these shorter timeframes ESPECIALLY like the 15 minute timeframes and lower. Only when you start taking the spread into account and actually SEEING where your long orders are ACTUALLY being executed is quite an ‘eye opener’ (well for me anyway).
Regards,
Dale.
Edit:
Sorry: I should qualify the above statement i.e. I guess with FOREX it’s POSSIBLE but only when you have a 1 or 2 pip spread (and of course that limits you to maybe one or two pairs if you’re lucky). But anything else (even Gold and Silver)??? No way!!!
Kind of like this
That’s a pretty typical daily chart for me, 1 PIP spread on EURO with Oanda, and there’s always the old Cat and Mouse.
Nice.
OK: point taken.
I must say: those are very ‘neat and clean’ charts!!! Nice (again). That’s a horrible world isn’t is i.e. ‘nice’!!! LOL!!!
Well my little experiment has gone ‘awry’ i.e. I got stopped and reversed and NO amount of ‘padding’ the highs could have stopped it from happening!!! LOL!!! So you’ll have to wait for the next exciting installment!!! LOL!!!
I don’t know why I’m bothering though i.e. nothing is ‘moving’ and it’s been like that since Wednesday. WE had a public holiday here yesterday but as far as I know we’re the only place that DID have a public holiday yesterday so I don’t know why everything is ‘dead’ (well MY choice of instruments anyway). Between you and me: I cannot wait for next year i.e. I’m feeling real good about it.
Regards,
Dale.
P.S.
I know that this is TOTALLY ‘off topic’ but can anybody (you maybe) tell me WHY an apostrophe is used in the word ‘don’t’ but it’s ALSO used in the word ‘won’t’ and, to the best of my knowledge and education, the apostrophe is used when you’re leaving the ‘whole words’ out e.g. ‘don’t’ is short for ‘do not’ i.e. the apostrophe replaces the ‘o’ in ‘not’ but ‘won’t’ is short for ‘will not’ so how does the same rule apply??? (I think I need to get a new hobby or go out to lunch)!!! LOL!!!
P.S.
Don’t start!
You have no idea how much I think about that, just to say its Dales’ Forex strategies’ importance that’s the key thing.
LOL!!!
It reminds me of a Billy Connolly line (which, given this thread, is pretty apt):
[I]‘How does a guy who drives a snow plough (for a living) get to his work in the mornin’? [B]That could keep me awake for days.[/B]’[/I]
LOL!!!
Regards,
Dale.
At least we know the answer to this one Chicken and egg question answered | Science | guardian.co.uk
Excellent!!! LOL!!!
And honestly: those are compelling arguments let’s (‘let us’) face it and they’re (‘they are’) pretty ‘logical’ arguments too are they not!!! LOL!!!
Anyway: I figured since we were ‘sharing’ (and it would appear nobody else is ‘working’ today) I thought I’d (‘I would’) give you an example of ‘my kinda trade’ (in the attached WinZip file) (sorry: I like BIG CLEAR HIGH QUALITY charts)!!! LOL!!!
I won’t (‘will not’???) lie to you i.e. it’s (‘it is’) a ‘cherry picked’ trade (at least I’m (‘I am’) honest about it UNLIKE SOME WELL KNOWN AUTHORS on the subject) i.e. the same system got ‘chopped’ VERY nicely in the preceeding weeks but OVERALL (up until now anyway) it’s (‘it has’) ‘paid its dues’ as it were (but also demonstrates the difference in the way that different instruments ‘move’ i.e. take a look at the Hang Seng Index. Now that’s (‘that is’) ‘paradise’ for a trend or swing trader)!!! LOL!!!
Regards,
Dale.
vscharts.zip (89.8 KB)
Wow, do you know what I see on your entry on the SP500?
I see you have entered on the ‘dog legs’ knee, you’ve established that it’s in the market to go up, and I notice that the candles aren’t spikey, you’ve entered long on the first break of the ‘Elliot Wave’ and as I say the wave is likely to complete so yes, totally different time frames to me, but so many similarities!
(See - I do have a serious hat to put on)
And following on from the above (and ‘breaking from tradition’ i.e. ME looking at a forex pair???): I’m ‘keeping an eye’ on EUR/AUD for the very same system. This is a TEN YEAR chart of the pair and what’s that saying about ‘nothing goes up or down forever’??? LOL!!!
Regards,
Dale.
Sorry: we were ‘overtyping’ each other.
I’ve been meaning to tell you: that ‘dog’s leg’ thing of yours!!! Well before I’d read your thread I’d started to notice that with RSI and that ‘RSI Rollercoaster’ system that I’ve spoken about: the FIRST ‘breach’ of the RSI (upper / lower) limits (70 / 30) is normally followed by a retrace and then a continuation and only THEN do ‘the wheels fall off’ (unfortuanately for that system the retrace and continuation don’t push RSI to its limits again the ‘second time around’ so the system breaks even more often than not on the first trade and that’s it). Then I read your thread and there’s DEFINITELY ‘something’ to this ‘notion’ of yours!!! LOL!!!
Regards,
Dale.
Might it make all the difference if you only counted the breach when it coincides with a dogleg(completed wave) ?
