Join the Dots. - page 40
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Hey MP
Sorry but you misunderstood. I was talking Forex trading in general, for a guy who is looking for pointers, not about this thread in particular.
But a really good post otherwise, thanks.
Cheers
Wayne===============================================
Yeah indeed ! as i said, EARLY with brain fog because of lack of coffee !
go against the trend and find out quickly what the initials "SOL" REALLY means !
mp
Just as I knew you would be, correct that is, I made a little over $400.00 last night on your hedge system, Thank you.
This will definitely help me to build up my wimpy account when I start trading live.
Craig Weaver====================================================
congratulations on that profit BUT please make haste slowly ! I understand the desire to "make it", but the consistency of this method will compound extremely nicely over (a short) time --- do NOT go in VERY HEAVY as there will be times when you or the system "hiccups !"
Not that its wrong, but there "could" be times when the trade takes longer than you might wish and the drawdowns WILL scare you if youre in too heavy !
Play with it a while, using good money management (which is not as restrictive as that of the longer term traders because the trade is relatively SHORT and the drawdowns MUCH smaller, all things considered !)
It would truly hurt me to see anyone get wounded on my advice, so please "make haste slowly !"
otherwise -- GREAT !!
mp
what fxshadow means is that he only wanted one trade from the hedge to take profit. The reason is because of the big spread, thus his opposing trade have to work harder to reach that take profit value. There are times when the TP value is just one pip away and the market reverses. So fxshadow devise a method whereby if one trade hits take profit, then adjust the other trade's TP to BE. Obviously, the profit from the other trade is zero, thus your nett profit is halved. This is the price you have to pay if you are using a big spread broker like InterbankFX.
===================================================
OK -- dropping all other thoughts, why NOT change brokers ?
for one, and ive written about it till im blue in the face, Interbank is one of, if not, THE WORST brokers to be dealing with. FIRST, they are ripping you off on GU because that currency trades in FIVE decimal places, so they make 10 pips for each one pip you make. If that was not enough insult, THEY NEVER BRING THE BID TO THE CORRECT TP POINT, and are even worse about it when the trade is a short, almost picking what the tp point is from within their large spread !
I have a LOT of expensive real time experience with them, having taken over a traders accnt from Malaysia --- it was the fight of my life to stay ahead of them and BOY did I learn how they work !
PLEASE --- get OUT of that broker as fast as you can --- for the less experienced traders they may look good, but for anyone who can be precise about their tp points (such as by using the normal s+r indicators and even my beloved LRC's) THEY ARE KILLERS !!!!!
PLEASE BELIEVE ME HERE --- I have only panned two brokers in my life, Crown and Interbank, and while I may not be the greatest thing since sliced bread, I DO KNOW WHEN YOURE UP AGAINST A BROKER WITH A LOADED DECK !
so anyway, if the spread is too large, dont try to even the playing field with altering the method -- instead, if it hurts when you do "THIS", DONT DO "THIS" and do something else instead, which in this case is GET ANOTHER BROKER !
my thoughts on that
mp
mp6140's Hedge v3.1 Expert Advisor
Here is version 3.1 of the hedge EA. It can now open the trade at exactly the time you want (hour and minutes).
Regarding the strategy to move the opposing trade to BE, I'm still working on it.
Cheers,
Azmel.
===================================================
OK -- dropping all other thoughts, why NOT change brokers ?
for one, and ive written about it till im blue in the face, Interbank is one of, if not, THE WORST brokers to be dealing with. FIRST, they are ripping you off on GU because that currency trades in FIVE decimal places, so they make 10 pips for each one pip you make. If that was not enough insult, THEY NEVER BRING THE BID TO THE CORRECT TP POINT, and are even worse about it when the trade is a short, almost picking what the tp point is from within their large spread !
I have a LOT of expensive real time experience with them, having taken over a traders accnt from Malaysia --- it was the fight of my life to stay ahead of them and BOY did I learn how they work !
PLEASE --- get OUT of that broker as fast as you can --- for the less experienced traders they may look good, but for anyone who can be precise about their tp points (such as by using the normal s+r indicators and even my beloved LRC's) THEY ARE KILLERS !!!!!
PLEASE BELIEVE ME HERE --- I have only panned two brokers in my life, Crown and Interbank, and while I may not be the greatest thing since sliced bread, I DO KNOW WHEN YOURE UP AGAINST A BROKER WITH A LOADED DECK !
so anyway, if the spread is too large, dont try to even the playing field with altering the method -- instead, if it hurts when you do "THIS", DONT DO "THIS" and do something else instead, which in this case is GET ANOTHER BROKER !
my thoughts on that
mpI have yet to find an MT4 broker offering 1 pip spread on GU. The best I have seen is 2 or 3 and they were against scalping (which makes no sense). The MT4 platfom I like but the brokers behind the platform are shady for the most part. Oanada I think was 3? But you can't hedge unless you have two accounts. So you don't get the margin utilization advanatge that way. Chris
Mp -- Be Treated Like The King Or Queen That You Are !
FREE pro ezine for FX traders only !
Currency Trader Magazine -- January 2008
while not exactly my cup of tea (or scotch for that matter) Its juicy and filled with all kinds of forexy stuff to tickle the mind and stimulate the senses (NO, not THAT kind of magazine !)
READ like a pro, for FREE !
mp
I have yet to find an MT4 broker offering 1 pip spread on GU. The best I have seen is 2 or 3 and they were against scalping (which makes no sense). The MT4 platfom I like but the brokers behind the platform are shady for the most part. Oanada I think was 3? But you can't hedge unless you have two accounts. So you don't get the margin utilization advanatge that way. Chris
====================================================
whats ALPARI or OANADA ?
and with two seperate accounts, you can use the ECN's -- MB, IB or EFX !
heres a list to start with ---- Forex Trading System and Equity Trading: Forex Trading System- Range Charts
and the nature of a 5 pip hedge is that one should NOT need the advantage of the margin protection, as exposure is a rather short time period, and if one goes into margin, the other is already done.
mp
ok, lets have a danged search here for one pip brokers on GU !
MP6140 has already listed the time on previous posts. Go back couple pages and you will see. The nice thing to list is the conversion between EST & GMT. For example, what is GMT equivalent of 11:15 a.m. EST (45 mins before Noon reversal)?
I'll have that summarized in the next zipped packaged.
The latest
MP
Many thanks for the clear explanation of the "Beer Money" hedge trade,
just what I needed to get it into my thick head.
Kind Regards
Geoff