/biz/ - Business & Finance

BITCOIN

>>279201
go away child

What pairs is everyone trading?

>>279212
gbp/jpy, might jump into gbp/chf if I get a good entry though

the forex market is rigged

haha

>>279220
no one is forcing you to be here

>>279219
I'm watching GJ myslef atm, looking to short maybe on the H4. But it correlates somewhat with UJ and UJ is at a nice support level on the H4 so could go up. Getting conflicting signals here, what do?

>>279246
I've been in a short since last week, 169.25 area is minimum but it could easily test 168. Pullbacks between now and then aren't out of the question so it really depends on your timing and exposure.

>>279249
Ya I was in it last week but got stopped out, was a bit too much volatilty/noise for my liking, gonna try again going for a tighter/cleaner entry. It's been on a general downtrend for some time and most my strategy agrees with a sell but this is why I really don't like GBP pairs, they feel too "noisy". You've done well to hold it since last week.

>>279212
Going long on USD/JPY.

>>279246
If market sentiment/wisdom of the crowd is anything to go by, UJ is going to rise.

http://fxtrade.oanda.com/analysis/historical-positions

~73% of traders are long USD/JPY, which correlates strongly with a reversal.

>>279254
Ya this is why I'm worried to go back in try the GJ again. I can see a possible reversal for UJ happening soon. I like that link, will bookmark for future, thanks.

>>279246

I'm waiting for tuesday's news before I make any moves on it. Have a couple of longs that I might break even on if the pairing spazzes out like it usually does.

But yeah, tuesday morning, hoo boy. Gonna be fun times.

>US Advance Retail Sales (MAR): +1.1% vs +0.9% exp, from +0.7% (rev higher from +0.3%) (m/m) - best US Retail Sales since September 2012.

Up 50 pips on UJ, but facing strong resistance. Dovish comments from Yellen are keeping the dollar down on the short term.

>babypips

Anything that teaches any positive reinforcement of technical indicators should be avoided.

>>279254
awesome link. very interesting.

For Swefags (if there are any):

Mailade skatteverket. Vad i helvete betyder följande mening?
>Det stämmer att förlusten tas upp till 100 % det innebär inte att man får tillbaka allt man förlorar utan har man ett underskott av kapital efter att kapital vinster/förluster har kvittats får man 30% i avdrag på förlusten upp till 100 000 kr och sen får man 21% i avdrag på överstigande belopp.

Också, om redovisning av varje enskilt handelstillfälle.
>Egentligen ska man redovisa alla affärer på K4 blanketten under avsnitt C. Har man underlag, gärna från bolaget där du gör din köp/försäljningar, där det tydligt framgår vilka vinster eller förluster du haft då kan detta godtas men är inget vi kan garantera utan det blir upp till din handläggare men verkar det vara bra och trovärdiga uppgifter brukar det gå bra.

>>279796
Första meningen låter som om de talar i tungor.

För mig låter det som om man kan dra av en viss procent av förlusten på övrig inkomst, så att den inkomsten undantas skatt.

Scenario: Du redovisar lön om +300.000 kr, och kapitalförlust om -100.000 kr. Du betalar skatt på din lön minus 30% av din kapitalförlust, alltså baseras din skatt på en inkomst om 270.000 kr istället för 300.000 kr.

Antagligen är jag helt ute och cyklar, men så uppfattar jag det. Jag vet att vissa andra länder har liknande system.


Angående fråga två så innebär det att om du kan tillhandahålla till exempel ett excel med alla vinster och förluster, samt summan vid slutet av det ekonomiska året, så slipper du fylla i en K4 för varje transaktion.

Jag läste om en daytrader som hade drygt 2000 avslutade positioner ett år, och som skickade in en K4 med sin totala vinst, och skrev att om Skatteverket ansåg det vara nödvändigt så skulle han gärna tillhandahålla det excel-dokumentet så att handläggaren kunde läsa igenom det och dubbelkolla resultatet, men det räckte med att det fanns.

Vidare så vet jag att CMC-markets och IG markets har någon form av samarbete med Skatteverket där de skickar in alla nödvändiga dokument åt en.

Hey guys, I'm looking to start demo'ing forex, any recommended software?

>>280673
Most every broker with a demo account offers MetaTrader 4. It's the industry standard.

>>280720
I've seen a lot of argument online between Alpari and Oanda, what's the difference, don't they both use MT4? Sorry, total beginner here.

>>280728

They do. Difference is things like spreads, margin call and stop out levels, margin requirements,etc. The MT4 platform is the same, but each broker has their own set of rules.

For example, I ran a demo with fxcm.ca. For a 0.5 lot (50k unit) position, they wanted a margin deposit of $4500.

Forty-five-fucking-hundred dollars just so I could open up a half lot trade. They also have a lot of fine print too.

>if a trade is losing for 5 days (including weekends), the trade will be closed
>if you lose 90% of the margin deposit, your trade will be closed

Just be sure to read all of the fine print from each broker. Not knowing their special little stipulations will screw you over for sure.

>>280887
>>if you lose 90% of the margin deposit, your trade will be closed

You would have to be pants on head retarded to let your trades drawdown 90% of your account. Don't ever, ever do this.

>>280673
>>280728
Try FXCM (only bother with UK, though, probably). Kind of high spread, but pretty nice software. MT4 is normal as well. Although I prefer MT5, it seems this isn't the standard yet (due to being less of a pure forex-program, and more for general ETF etc. trading as well). I tried MT5 at Alpari (UK), but I wouldn't recommend signing up for demo with them since they called me twice on the phone for no good reason (didn't pick up, told them to shut my account down and lose the info).

Currently doing MT4 with FinFx, stupid low spreads. Requires a minimum lot size of 0.1 ($10k, leverage can be set from 1:1-1:200), so if you want to control risk, that rules out longer than maybe hourly trading too easily (depends on how risk-averse you are, as I said, it's only a demo account).

>>280894
Isn't it of the margin used for a trade, though? But yeah, if you lose 90% of the margin used for a trade, that's just retarded.

Let me tell you kids a story about how experienced traders still shit the bed.

>be me
>set an entry order to short
>see it trigger out of the corner of my eye
>good, lets get this shit started
>wait a fucking second
>"Long"
>fuckshitcuntasscockgobblingchrist
>Being tired as hell I didn't notice the entry dialog had defaulted back to Buy as the default order type

I set another set of short orders right above the break even point of that nerfed trade and thankfully price moved up far enough to trigger it and close my long and open a short. My win streak continues, albeit with a +0.4 pip booboo on my scoresheet.

Don't drink and trade; don't trade tired. A message from one pissed off and subsequently relieved anon.

>>279749
Could you give a bit of reasoning for that? Genuinely interested. Using technical analysis with other tools seems like a good way of reducing your risk in trades.

>>281327
>My win streak continues
How many in a row, m8? I'm 10/1 so far in April.

>>280894
>You would have to be pants on head retarded to let your trades drawdown 90% of your account. Don't ever, ever do this.

Not 90% of your account, 90% of the deposit for the trade. The broker takes x amount of money and puts it aside when I click "okay! This is the position I want to open!"

Fuck man, I've had unrealized losses go past 200 pips the wrong way. It's funny, I've posted some pics of my trades on other forums when this shit happens, and some "traders" go apeshit and tell me I don't know what I'm doing, and that I'm going to blow my account out. Three days later, those shitty trades I opened break even, and I take 150-200 pips along the way back up to those positions.

But I'd never drop 90% of my account on a trade. That's just insane. Most unrealized loss I've ever had on a trade is about 20%.

>>281327
>Don't drink and trade

I've done that a couple of times. Ironically enough, it worked out great for me. I've been keen enough to trade low volumes before I start drinking, but so far I've taken almost 100 pips on 2 trades when boozing.

>>281358

Because you're missing the point. You're not trading price, you're trading against other people. It's a people v people type of game.

All those indicators just simply tell you what's happened with price after the fact, but not how price got there from behind the scenes. Once you start understanding how price gets from point a to point b, and who is actually moving the price, you'll start getting a notion of rhythm.

Like with stocks and insider activity, forex has central banks, interbanks, and an international community of corporations. Look at them, not the RSI or the SMA(20) or some altered Elliott Wave stuff. (because why the fuck would some top bank give out the strategies of a successful trader?)

>>281562

>most unrealized loss on a trader is about 20%

Of course people would tell you you're doing it wrong. That's just fucking retarded if that's your entire trading equity. Unless, of course, it's extremely small as in less than couple grand.

>>281614
I'm not the guy you replied to, but I'm a newbie.

When you say
>Like with stocks and insider activity, forex has central banks, interbanks, and an international community of corporations. Look at them
What do you mean, exactly, by "look at them"?

Thanks in advance

Forex is literally the bottom of the totem pole. Only plebs go into forex.

>>281652
>>281652
but there are people making loads of money with forex

what's better?

>>281621

>Of course people would tell you you're doing it wrong. That's just fucking retarded if that's your entire trading equity. Unless, of course, it's extremely small as in less than couple grand.

Greater than a couple of grand. And cry me a river.

Seriously. It's like there's a point where people stop looking at entries and exits, and just start bitching about dollars.

90% of traders absolutely suck. Which results in 90% of the advice you receive absolutely sucks.

I'm going to put your "advice" in the 90% column.

>>281621

I understand you choose not to use indicators, but bashing them to the point of saying they don't work is ignorant.

How are you gauging central bank activity? Rates? You really can't tell who is buying and selling. Please don't say volume.

You do trade price, thats all retail traders have.

>>281747

I'm not hurt by your stupidity. Your risk manage is bad and you will be burned by it. If I take your money, I'm happy about that.

>>282648

I'm not saying they don't work, because they weren't designed to predict price. They were equations designed to simply give a view as to what happened.

You can look at bonds, if you know what the fuck quantitative easing is, and not simply what it's for, and you can read into regional reports by the st louis fed.

Holy fuck, are you ignorant.

>>282667
They work, period. You should be more concerned about what works for you. If you even trade.

I'd like to see some trades of yours based of Fed news and QE rates. Trading fundamentals is way more lagging than any indicator. As soon as they are released they are priced in hence the giant leaps during news releases. The market is kinda efficient like that.

Your reminding me of a friend who got into trading and was soo focused on fundamentals he ignored the thing that matters the most, PRICE. He refused to ever short the EUR/JPY due to hearing the BOJ press conference talk about more QE. Over and over his E/J longs would be stopped out and he didn't get it. "HOW ARE PEOPLE BUYING YEN, this is stupid the BOJ is easing more".

So you must have went long on the Euro when the NFP miss happened right? Well even with a 100 pip SL you would have been stopped out. Oh wait an NFP miss would mean dollar weakness and euro strength....thats a fundamental reason to buy..


I would love to see some trades based on your "system" of trading bonds and FED reports. Waiting

>>282685
>Trading fundamentals is way more lagging than any indicator.

Depends on the fundamental. Payroll data is inherently lagging by its nature. It only serves as short-term speculation as to how the banks may react to the data. On the other hand, things like fund rate changes are determined by our monetary overlords. Policy changes will drive the market over the long run and can not be priced in no matter what technical indicator you're using. Short term speculation from news releases is not fundamental analysis.

>>282667
>Your risk manage is bad and you will be burned by it. If I take your money, I'm happy about that.

Nope. Obviously if my method's working, and bringing in profit over 95% of the time, my risk management is fine. What's the sense in me doing something like 40:60 reward/risk? I would've ended up with 5 trades getting stopped out. That's a 300 pip loss because of "risk management".

I manage my risk just fine. Giving the market big room to breathe (especially if it's a very volatile pairing) mitigates a lot of potential losses.

>>283293

What a surprise. News hits, and my long that I was holding since sunday on the GBPJPY closed for a nice little 35 pip profit. I think that position was down 150 pips at one point this week.

>>282685

Indicators work, but they don't predict price.

I don't trade news releases. Things are priced in before.

The thing that matters most in trading are other people, not price. That's like saying cards matter the most in poker, not the other players. Why the fuck do you think so many professional poker players can get into banking, while a lot of banking guys get into poker? Because they are essentially the same game: a game between people. If you honestly think that traders in the pit were fixated on price more than their adversaries face, voice, hand movements, etc, then you're fucking stupid.

You're friend is stupid for not realize what the boj and qe talk meant. He probably didn't even look into the australian mining sector or the chinese exports. I shorted the aussie, shorted the yuan, went long the dollar and and the yen. I don't touch the euro, for it moves opposite of what the dollar does. If I go long on the dollar, and short on the euro, I'm making one trade. If I go long the dollar and the euro, I'm just paying commission for fun.

My system is reading between the lines.

Do you think you would've bought OSGIQ, a us stock, at .5, when there were talks of increasing sanctions on iran? Do you even know the repercussions of the sanctions on Iran and how that relates to the forex?

>>283293

Do you know what martingale is?

The thing is with your risk management is that you're not able to diversify. You're using up too much equity on one trade, when you can be using that equity to trade in other spots. When you're on your one trade, you're focusing on that one trade. I don't focus on trade, I focus on my equity.

>>284052
Honestly I don't understand quite what you're trying to get at here??? How do you read/know who or what the players are doing in forex??? There is no way, there are so many players, you can't possibly know what they are doing/going to do. Isn't the price the result of what the players are doing? So what else do you have to go on but price? Seriously I wanna know what you use to see/know what the players are doing. Also don't indicators just help you visualize the price and movement? And a lot of the time they can become sort of like self fulfilling prophecies because so many people follow them. Isn't that essentially the same as playing the players???

Also news is just bullshit IMO. All this post news release "analysis" just looks like retrofitting garbage. "Oh euro still went up even though euro news was bad but hey that's because X is doing this and that, that's why Euro didn't move as expected in regards to the news release". There always seems to be some excuse as to why the price moved opposite to what the news was saying and if it moved with where the news was hinting at then it's all good. IMO the news just gives an excuse for the price to hike one way or the other, so in my eyes; it's not about trading the news rather just be aware of what news is going to happen, cuz likely it will cause some noise.

All IMO ofcourse, I'm by no means an experienced trader.... just my two cents.

>>284128

The first Rockefeller made a sleight against his competition by simply giving a press release, not even mentioning his competition. There were two guys who read between the lines, and ended up duping Rockefeller after he duped his competition.

While there are many players in the forex, you have to focus on certain players, like in a poker tournament, even though there may be 10k players, you need to focus only on your table. Central banks, corporations, interbanks, etc. There is a hierarchy of cash flow.

Price is simply the last transaction. It could be two retail traders making price move just a bit, but they don't have to space out their positions due to their liquidity like the interbanks and corporations do. Once you start understanding how corporations hedge their risks, how interbanks supply services for these corporations, how they are trying to jew the corporations, how the central banks control regional corporate job flow, then you'll start leaving the charts alone. Entirely.

>using a chart
>2014

News isn't bullshit, but a lot of news is noise in order to increase transactions for broker and whatnot. Now, when you see a story that you think is total bullshit, think who is really profiting off of that story, and then you might be able to figure a way to profit from the story as well.

>self fulfilling prophecies

Do you know the majority of indicator users are retail? Retail traders can't self-fulfill anything, they don't have the liquidity. It isn't the same as playing the herd of people. Find out who the shepherd is and then you can start to really profit.

Quit looking at everything at face value, and try to read between the lines.

>>284323
>I have no idea what I'm talking about so I'll provide vague, elitist comments to make it sound like I do

>>284323
>I don't look at charts to trade
>I don't even look at the price
>I trade purely by watching CNBC

>>284323
Honestly bud, I kinda understand what you're trying to get at here but you still haven't clearly explained how one would do this?!

It sounds something akin to insider trading in stocks but you can't apply that same thing to forex. I know all about broker shenanigans but that doesn't seem like what you're getting at here.

Outside of price action, indicators, news releases(which are too late anyway) what else do I have to go on??? Seriously? Plox explain it because you're being very vague here m8.

>>284470
He reads the news and speculates like everyone else. Notice how he hasn't provided one concrete example of his analysis besides some vague hindsight?

>Hurr durr I look at da mineeng datuh so I shorty short the STRAYACUNT

Until he provides an accurate analysis of FUTURE price action, just ignore him.

>>284461

It's okay to look at a chart to get the history of price, but really, you just need a price ticker.

>>284470

What do you think the people who manage billions go off on? They do the news releases, they make the indicators, they are the price action, so they can't use any of that. C'mon, it's very simple.

They know each other, their tendencies, their pockets, when they go eat lunch, their voices, THEY KNOW EACH OTHER.

>>284492

The dollar is going to go up to about 120 if not further possibly by 2020, if not 2025. Didn't you buy up the dollar when the fiscal cliff was around?

Gold will go down to it's mean value which is below $400.

>>284512
>predictions requiring years to verify

Get out.

>>284512
I fucking hope the dollar goes up. Although if it goes up that high, almost doubling from here, that would mean the rest of the world is pretty fucked.

>>284521

Not a prediction, but more so an estimate. I don't predict which cards are coming out next, I just know what's going through the heads of the other players.

>>284529

Yes, the rest of the world is pretty fucked.

>>284554
>Not a prediction, but more so an estimate.

And a worthless one, given the time frame. 1 BTC will be worth $10,000 in 20 years, give or take 5 years!

>I just know what's going through the heads of the other players.

No you don't.

>>284560
Well, the dollar going up like that means extreme deflation in the US. It's possible after the massive QE bullshit the Fed has been pulling. Deflation would be good for those without debt.

>>284560

>given the time frame

If you can't hold onto things for that long, I'm not sorry.

>no you don't

That's why I win at poker. Precisely why.

>>284512
>What do you think the people who manage billions go off on? They do the news releases, they make the indicators, they are the price action, so they can't use any of that. C'mon, it's very simple.
>They know each other, their tendencies, their pockets, when they go eat lunch, their voices, THEY KNOW EACH OTHER

WHAT THE HELL ARE YOU TALKING ABOUT.

Seriously, you've lost me.

I thought we were talking about trading here, seems you're more interested in investing.

>>284605

They know their voices. They talk to each other on a daily basis. They eat lunch with each other. They know the power of of the other banks, where they are limited and where they aren't. They know what they are most likely to do, based on their history with each other.

Game Theory is what I'm talking about.

>>284589
>trading Forex
>holding positions for years

Pick one you fucking retard.

>>284605
You're getting rused by a neckbeard.

>>284678

Oh, I'm sorry, Master. I didn't realize there was a time constraint on currency risk.

>>284645
>>284680

>>284052
>The thing is with your risk management is that you're not able to diversify. You're using up too much equity on one trade, when you can be using that equity to trade in other spots.

I'm only trading one pairing right now. The equity I have gives me enough to have about 5 positions open if I wanted, which is far more than I need. Maybe down the road once I have more cash in the bank, I'll branch out and try different pairings/methods, but right now it's 20 pip gains, and they're more than making up for any unrealized losses I might have floating right now.

>>285014

You're not trading a pair, you're simultaneously trading two currencies. We pair them up, but thinking of them separately is better.

You're also leaving money on the table. In poker, those who only play just a few cards, only play them in a certain way, never realize the other spots they could play. By leaving money on the table, you are losing money. Any time you can gain money, but don't, that is money lost.

Then again, if you're so focused on one thing, or rather, two, you should probably get into the stock markets. The foreign exchange is the big picture, the stock markets are the little pictures. What type of thinker are you?

>>285077
Again your using vague explanations for your "system" and zero concrete examples. Why not just post some trades like I asked yesterday?

Its almost like your trading like a dealing desk would....I am guessing you interned somewhere. This doesn't work for retail traders. Your talking about sitting on currency trades for years? Well unless your account is in the 7 to 8 figure range, the opportunity cost of sitting on a trade isn't worth it. Please don't imply you would use leverage to make it worth your time. Your entry would have to be dead on and if it wasn't most likely you would be shaken out.

The more I read your posts the more I get the feeling I am talking to an academic with no trading experience.


Please post some trades examples with proof. I am asking for the second day in a row.

>>285077
>Any time you can gain money, but don't, that is money lost.

Says the retard who advocates holding positions for years.

Stop shitting up this thread, and everyone else stop replying to this fucking moron.

>>285248

>sitting on trades for years

No, I'm sitting on risk exposure, adjusting here and there.

>dead on

I was completely dead on to the pip for the aud.usd drop to below parity. Entry and exit. It took me five months before I entered.

>trades or gtfo
>/biz/'s tits or gtfo

>>285276

Again, risk exposure. You should read into poker. If you have pocket AA, and you FOLD, you LOST money. If you're in a spot where you can value bet on the river profitably, and you don't, you lost money. That was money you could've had, but you lost it. That chance is gone.

>>285301
>I was completely dead on to the pip for the aud.usd drop to below parity. Entry and exit. It took me five months before I entered.


So post the trade then......

Almost half a year to enter a trade...again unless your working with a 8 figure account then your opportunity cost isn't worth it. Investing in leveraged assets is a big no no.


>trades or gtfo
>/biz/'s tits or gtfo

lol

>make claims about a "system" you use to trade in a Forex thread
>asked to post trades
>durr tits or gtfo

Well stop waving your dick around putting down other methods of trading if you don't want your method to be proven.

Anyone here do algo-trading? Not HFT stuff, just a computer program automatically putting in orders for you once conditions are met.

I'm looking for a broker which has an API (realtime tick data + ability to place orders) that doesn't cost $1000+/month. Interactive Brokers is the best one I've seen and they're expensive and have bad reviews (lost orders, etc.).

Does such a thing exist?

>>285301
>>285362
I honestly thing every tripfag on here should be required to log their trades in a myfxbook account or a public virtual stock market account for like a month. So many of you guys spout off bullshit trying to sound smart, but I've never seen any of you prove it. You just talk about all the wonderful calls you made, but only after the fact.

Fox, why don't you do that for a while so we can see what kind of returns you're actually making?

>>285301
>You should read into poker
>because that's relevant to trading in my imaginary world where I know what the banks are doing

I'm done with these threads and probably this board in general. Hardly anybody posts any actionable advice, and if they do, its supported only by their own gaseous byproducts. Bunch of poser faggots.

>>285362

I actually never made a claim to any system, other than that I read between lines.

Nor have I put down other methods, just clarifying that indicators don't predict price. Those equations are used in other fields like science, which simply DESCRIBE something. Just like the fibonacci sequence, it only describes certain phenomenons.

Just because something is "overbought" doesn't mean it will become "oversold" or return to the mean, which isn't some arbitrarily picked number like a 20 ema or 40 sma.

This is something I did years ago.
>trades or gtfo

>>285398
forgot spic

>>285397

You talk a lot of shit, and how much advice do you post? It's like as if indicators are the jews, and if one dared to speak out against them... Oh-ho-ho-ho! He'd find himself in his OWN shower!!! HAHAHAHAHA!!!

>>285403

In this trade, I was using the bands and their tops/bottoms as future targets. Notice how the bottom green diagonal line crosses the top band/green ma cross? Do you think that has any potential to look into?

>>285407

I can even scalp.

>>285403
THAT'S YOUR IDEA OF A FUCKING TRADE? 12.3 PIPS AFTER IT BOUNCED TO BREAK EVEN TWICE!? WHERE THE FUCK ARE YOUR YEARLY TRADES THAT YOU MANAGE RISK WITH?

>>285411

I was trying to act like the big boys, spacing out my position across multiple entries.

>tfw pentatrade

>>285426

This was on new years of 2013.

>believing the fiscal cliff

>>285433

wtwhoops

>>285426
>>285435
Instead of drawing arrows on old charts, why don't you show us what you're actively trading right now and what your next moves/predictions are so we can see if you actually know anything or of you're just hear to get a big head?

>>285438

Why don't you?

>>285446
Because I don't claim to be a master at this shit? I'm still learning how everything works, but before I take someones word I like to see proof that they know what they're talking about. You haven't really shown any of that...nor has anybody here that I've seen. Whenever someone brings up showing real-time or future trades, all the loudmouth tripfags just change the topic. I'm convinced nobody here is actually profitable.

>>285453

U WOT M8

No but seriously... I'm just demo trading... I never claimed anything.

>>285453

>claim to be the master

Where did I ever claim that?

The reason you don't see profitable people posting their shit is because profitable people don't sell their secrets. Are you fucking stupid? There's a reason why I had to learn how to play poker the hard way, and it's because no one wants to tell anyone except those who know how to play the game... how to play the game.

You've been given a plethora of information, but of course, you don't even want to think about any of it. Do you honestly think that corporations don't hedge against currency risks? Or that interbanks somehow have to try to avoid getting fucked by the central banks?

Learn how the financing world actually fucking works BEFORE EVEN LOOKING AT A CHART. Seriously. Babypips is fucking bad for you. It doesn't teach you how things actually fucking work, they just spout off a bunch of indicator bullshit, how to identify certain triangles, and that news releases are important. If you think sites like that, which are a dime a dozen, produce profitable people, then why don't we see more of them?

Why is it that whenever someone is selling a system, there are no winners except... wait for it... THE SELLER!

Look at your computer. At first, you see just a computer, but when you look beyond the computer, what do you see? Before you read any further, answer this.

Now, did you see the computer literally or figuratively? If you saw it literally, you would've seen the different components put together, ie: the case, the hard drive, the ram, etc. If you saw it figuratively, you would've seen the computer as a symbol and that for it to be produced, someone must have made it, and someone must have designed it all, and someone must have transported it.

If you saw figuratively, stay in the forex. If not, go trade stocks.

>>285469
While I doubt you even actually trade forex based on your stupid posts here, you could certainly have a very successful career as a salesmen with that kind of bullshit pitch to beat around the bush. And I mean that.

>>285077
>You're also leaving money on the table.

Because I aim for multi-day to even weekly trades. After all is said and done, I come by at a certain point during the week and pick up that money. It sounds like you're insisting I be a day trader, which is a big mistake in forex. My goal is to pull 20% equity per month. So far in the past two weeks, I've almost hit that target already.

I don't mind if I have to wait a few days for a position to close, because it's all a part of my plan.

>By leaving money on the table, you are losing money. Any time you can gain money, but don't, that is money lost.

Okay, now I know you're totally full of shit and should just leave this damn thread already. There is no certainty of money being gained in forex. That's why it's SPECULATION. Leaving cash on the table may inhibit me from potentially making money on other pairings, but it does not equate to losses you idiot.

>>285481

A lot of things in poker are speculation as well. I have to speculate what my opponents range is, what his tell range is, and what his level range is. You can find out what your own expected value is, but how your equity holds up against your opponent is all speculation. Those who are more accurate make money; those who aren't, donate their stacks.

>>285475

What am I trying to sell? Can you figure it out?

>Bash indicators
>Uses MA's

Ok just stop

>>285469
>AT A CHART. Seriously. Babypips is fucking bad for you. It doesn't teach you how things actually fucking work, they just spout off a bunch of indicator bullshit, how to identify certain triangles, and that news releases are important. If you think sites like that, which are a dime a dozen, produce profitable people, then why don't we see more of them?

Babypips is free
It teaches PA and Indicators

If know how the markets work is such a viable information why isn't every asshole with a series 6 killing the market?

Price is what matters.

>>285491

Alright, well, you've stopped making any sense whatsoever. I'm going to post my stats since I started this account last week. Figure I might as well prove that out of the two of us, at least one of us is actually trading.

But best of luck with your poker/forex analogies. Maybe you'll actually be able to bullshit someone into believing that you actually know shit about forex.

>>285499

Because trading isn't for everyone. Some people can't handle the risk of millions, even if it isn't there's. Other people can't think on higher levels. In anything you do, you need to ask yourself, is this right for me? Am I really prepared to take on the requirements needed to bring in profit?

Also, the markets are killed by... wait for it... pause for effect... HEDGE FUND FIRMS, INTERBANKS, INTERNATIONAL CORPORATIONS, AND DUN-DUNNADUN-DUN-DUN-DUNNNNNNN!!!! CENTRALLLLL BAAAAAAANNNNNNNKSSSSSSS!!!!!!!!!!!!!!!!!!!!!!!!!!!

>>285509

And the rest of the trades. Actually, I was wrong. I initially said I was aiming for 20% monthly. I've already surpassed that amount.

>>285509

Yeah but show us that its your real account. Dox yourself.

>>285509
What's your strat m8? Care to share?

>>285517

This is probably the /biz/ version of timestamp.

>>285518

I start by looking at the daily charts, and upcoming news releases. I aim to close my positions before news hits, since that shit can get volatile fast. Likewise, once news hits and I see that sudden surge, I open a position for 30pips. Although I could probably take upwards of 80, the GJ is volatile enough without news, with news it's fucking nuts, I could've taken double the amount I did yesterday.

Aside from that, I aim for 20 pip gains, but set my stop loss for 10. More often than not it drops back down to 10, but 10 pips is better than no pips.

Sometimes I'll hedge at the start of the trading day for 10 pips, since the volatility usually shows that the highs and lows are 10 pips greater than the opens and closes. I just make sure to not do that around the support and resistance levels on the daily charts. Going long at the peak of the resistance level is a loss just waiting to happen.

I generally took a lot more during my demo days, but since it's real cash, and I'm fresh into this, I'm keeping my profits tight. Better to make little cash than none.

>>285517
>Dox yourself.

Go fuck yourself.

>>285533

And there you have it, ladies and gentlemen.

>>285514
Retail traders aren't trying to move the market. We are just on for the ride. Still waiting for those trades for you to post and not just charts with arrows added on the peaks to make it seem like thats your entry.


Are you really that much of a pseudo intellectual to really assume price/indicators don't work? Do you even have any institutional trading experience? How can PA and Indicators work for Banks and Hedge Funds yet you deem them useless. Dickhead nobody has ever claimed PA/Indi's predict price. NOTHING DOES. Trading is all probability. Hedge Funds build models off mathematical inputs aka indicators and test their profitability.

Try and backtest your pseudo intellectual system of 12 pip trades. I am sure you could model, DURR YOU GOTTA KNOW THE MARKETS.


No faggot its all about price.

>>285532
What is "start of the trading day" for you?

So you're basically a range breakout trader I presume? I did that for a while in demo, but I found fighting everyday, every hour for 10-20pips a massive drain and inefficient for my tastes.

Since then I moved to swing trading, doing the odd 10-20pip trade here and there. Pic related at >>285462
, when I first started swinging, made more pips in about 24hrs than I did in two weeks playing the 10-20pip game. But after those trades it all went to shit lel. You live you learn. More practice!

>>285538

It doesn't matter if I post a picture, because I'll need to provide some personal information to prove that it's me. Why do you think this post happened?

>>285533

Though, are you really retarded to assume that equations not meant to predict price, but merely describe a series of numbers, actually were meant to predict price?

Did you also not read where I wrote that the participants you have named not only create PA, but also indicators, thus making them unable to even think about relying on them?

Hedge funds are able to see quotes, not just simply orders. Do you know what quote bullying is? It's when an exchange sends thousands upon thousands of fake quotes to others exchanges in order to delay other exchanges getting other quotes. Those games are games only computers can play.

Again, what system did I claim to have?

>>285581

New York close is the end of the day, then you get fifteen minutes, then the start of the day. That's how it's known internationally.

>>285596
>Hedge Funds create indicators
Yea Gann and Elliot wave were hedge fund guys. So were the Japanese rice traders who make candlesticks. Yep. God your a fucking moron.

Quote Bullying doesn't happen in Forex, too much liquidity. Go fuck off with your baby stock market issues.

Its soo funny again your bashing indicators but your chart you posted had MA's and Bands on them and your talking about scalping the tops of bands. Very hypocritical.

Good to see the threads being shit up again with pseudo intellectual non traders

>>285581

I go by my broker's server time. Which equates to being 8pm est. Like I said before, I just aim for multi-day trades. I open a position when I have a feeling it'll hit that point the next day, or day after. Usually it hits it within the day, but I don't really look to close positions the same day. That gets me looking at the 15m and 30m charts too much, and all that noise throws me off my game.

>>285596

>blah blah blah

Keep flapping your gums, I'm just going to stick to winning trades.

>>285613
>Good to see the threads being shit up again with pseudo intellectual non traders

4chan's finest at their best eh?

How's the trading going for you today? GJ's been in a tunnel all day since yesterday's news release. Hoping for it to go bearish a bit, but wouldn't be surprised if it goes bullish for another 80-100 to test daily resistance level back at the start of the month.

>>285629
I caught part of the Cable break out. The markets are slower thanks to Easter. I am still scalping the E/J until a direction presents itself.

>>285623
But wait... you said you go for like 20pip moves? if you're holding for a day or more shouldn't you be banking more???

>>285629
I'm hoping for a bullish push myself looking at that resistance on daily. Although I told myself I'd never get back into a GBP pair, they've fucked me over more times than I'd care to mention cuz they're always so fucking noisy!

>>285509
When you win you usually win $60
When you lose you lose $600

uh mate...

>>285717
Oh come on, look at the number of successful GJ trades. He had ONE bad EU trade, probably an experiment.

>>285742
yeh you're right mate, if he can keep that %win rate, it's a keeper.

However, if losing streak ever happens, it'd be catastrophic.

Any SupDemers here?

What's your opinion on zones that have been touched before?

What about pic related.

>>285744
Agreed.

>>285613

Yes, if you didn't know, JP literally picked up both Gann and Elliot and altered them.

Candlesticks merely indicate what the price open, close, high, and low was.

>too much liquidity

Did you know that interbanks quote each other nonstop? Oh, of course you didn't. You can easily find this on fucking youtube.

Again, I said indicators describe price, nothing more. Do you even know what the fibonacci sequence describes?

>>285625

>flap flap flap

>>285629

>hoping
>surprised
>daily resistance

>>285645

>not being in before the break out

>>285650

Exactly, this fucking moron doesn't realize how much money he's leaving on the table. Why do you want to talk to someone who is intentionally fucking themselves over?

>>285651

>hoping
>pair

>>285717

Exactly.

>>285742

Do you know what the martingale is? Seriously, if not, look it up. You'll realize how fucking retarded you sound.

>oh but if I win 25 bucks 97% of the time, I'll make money, regardless if I lose EVERYTHING for those other 3%

>>285744

Exactly. Short-term variance is a fucking bitch. That's why in poker, you have a bankroll of either 25 buy ins, 50-100, or 300. It doesn't matter how good you may think you are, because short-term variance will always come around.

>>285766

You're trading pivots. Learn the difference. You see where the middle black line is at? Where you have the green arrow? The first instance in that chart is where the first supply imbalance occurs. When price came back, time to move on. The hand's over. After that, the next demand imbalance, which is very minute, is just barely to the left of the green arrow, down to the red line, but up a little with that little blue diamond.

Lemme guess, you're gonna sell, aren't you? You might be able to get some downward movement, but not down to where you'll target.

>>285960
>Do you know what the martingale is?
Yes I do and that's not it.

Like I said, look at the GJ trades separately from the EU one, which was probably an experiment.

>>285960
>You're trading pivots

u wot m8, I know the difference, I've tried a couple of pivots strats, and there are no pivots on that chart (if there are then it's a coincidence), everything besides the swing highs and lows (red/blue dots) are manually drawn.

Going back to your reply, could you draw what you mean? I think you mean "supply" instead of "demand" in a couple sentences.

cheers

>>285650

I did in demo. I'd take 30-40 on most trades. It's mostly just getting settled in to dealing with real money. The nerves are still kind of there. With tighter take profits, it gives me a better shot at closing the position. If I leave it too loose, the market might turn the other way, then I gain nothing.

Right now I'm just snowballing my account up to $10k. If I don't incur any unexpected expenses (new car, losing my day job, etc.), then I'll focus on working up to $20k.

I know 10-20 pips might not seem like a lot, especially when some traders are scoring 100+ on 7 lot trades. But I figure once I start moving 5 lots at a time, that's $500-$1000 per trade. Even just two of those per week is more than enough for me to live comfortably off of. If I get rich off of this, awesome, if I live pretty well off of it, that's just fine by me too.

>>285742
>>285744

Yeah, I was dumb and tried something out with the EU. I was pretty successful with it in demo, but I had a total brainfart with that position. I'm just going with the GJ.

I will occasionally have losses like that with the way I trade for sure, when I lose, I lose big. But for every $1000 I've lost in demo, I've made $2000.

>>286052
Could you please go into a bit more detail on your method? TF's, signals, confirmation?. I got what you wrote before, but it'd be cool to get a bigger picture.

>>285651

>they've fucked me over more times than I'd care to mention cuz they're always so fucking noisy!

I hear ya, that's why I keep my takes relatively close to the opens. Volatility is a double-edged sword. It can give you great gains, and great pains. But with high volatility comes a greater chance of a bad trade turning good. There's been a few times when I've gone long, only to watch the market go bearish for 70+ pips. Then half a day later it turns right back around and goes bull for 100. It's one of the reasons I don't use stops with that pair, and why I keep my takes low. You can't squeeze 50 pips out of 30.

>>286083
GBPNZD is another volatile bastard.

>>286044
>I know 10-20 pips might not seem like a lot, especially when some traders are scoring 100+ on 7 lot trades. But I figure once I start moving 5 lots at a time, that's $500-$1000 per trade. Even just two of those per week is more than enough for me to live comfortably off of. If I get rich off of this, awesome, if I live pretty well off of it, that's just fine by me too.
Are you me? Good plan.

>>286068

Honestly, not a whole hell of a lot. Mostly finding the support and resistance areas, and drawing a trend line here or there. I try to keep my charts as clean as possible. If I rely too much on fancy lines, calculated averages, etc., then I'm not relying too much on myself. I'll use MACD to help me figure out roughly when I'll get out of trades (mostly in demo, still working up the confidence for bigger takes in live trading), but that's it.

Most of the time it's just staring at a pairing for days on end. Getting a rough idea of when volatility strikes, seeing if patterns emerge, and how often, which direction they go in, for how much, etc.

And also NEWS. Positioning my trades around medium and major news events. I don't want to end up with a position open a day or two before big news hits. If they're losing, I'll just close and take the loss. News could make a losing trade into a winner, and it can also make a loser blow out your account.

I'll hop on the bandwagon for sure if the market starts shooting in a direction. Sometimes the spreads are ridiculous with some brokers, but if you can pull 80 pips in an hour, and pay a 15 pip spread, you're still up 65. Nothing to really complain about imo.

That's basically it. Still trying shit out in demo, probably always will be, I already dropped $600 on my live account because I tried something I should've demo'ed instead, but hey, live and learn.

>>286103

Thanks for the heads up. I'll add that to my watchlist. I used to trade mostly AUDJPY, but then it went on that retarded bull crawl for like a month. Probably due to the uncertainty of Abenomics, and the fact that Japs are buying gold like crazy. Finding a pairing that's not tied to the yen in case something like that happens again is key. Thanks again.

>>286105
Do you enter on the touch of the SR/TL? No confirmation or checking for PA?

With a TP of 20 and SL of 10, your trades must be pretty quick on GJ.

>>286044
No no I totally get that 10-20pips a day is more than enough too get you to where you want to go, I was just exclaiming that holding a position for a day or two for only 10-20pips is what I found odd.m but I get what you're saying.

>>285960
>hoping
>pair

Well apart from hoping what else d I have? Next you're going to tell me I should KNOW where it's going to go?

I look at all the tools/evidence I have and I make an educated guess where I think price will go next. I am, as we all are, hoping the price will go our way. No one KNOWS where it's going to end up.

>>286234

Well, for one, you're emotionally attached to your trades.

>>285960

>not being in before the break out

Thats not how breakout trading works. But you would have some trading knowledge to understand that.


Keep shit posting Fox.

>>286186

My SL is only used to take minimum profits. I set it to 10 pips profit once my trade has hit somewhere around 13 pips profit. I set it in the positive side of the trade, not the negative. That way in case the market shoots back the wrong way, I'm taking a minimum of 10 pips. It's more like 10TP-20TP is set up for each trade. I'll just manually close a trade if I'm not liking it, or leave it open for days (sometimes over a week) for it to recover ground, and close it at a smaller loss when the market turns around, or maybe break even, or even rarer, scalp a few pips.

>>286230

It'll get bigger as I gain some more experience. I'll likely aim for something like 30-40 with my trades towards the end of the year. Like I said, it's still some nerves, and some slight second guessing.

>>286510
>tfw scalping a one-minute chart
Yeah, it's probably not even worth it after the comission fee, but I reckon an EA could do it fairly reliably, and pull decent profit over a week (two dozen pips an hour?). It's a shame I can't be bothered to learn to program EAs, though.

>>286335

If breakout trading worked, then why doesn't everyone do it? Oh, wait, cause it doesn't. You might get a trade here and there to work out, but not because everyone who can move price was thinking to themselves "well price is at this imaginary line here that i know everyone in the entire world drew just like me, and im pretty sure everyone in the world is gonna be buying here at the breakout, so ILL DO THE SAME!!!"

And then the person who's selling rips everyone off.

>>286103
Jesus, you weren't kidding. That fucker does like 20 pips per hourly candle. Thanks for the tip, man!

Anyone else have any good pairs to recommend me? I'm setting a new MT4 demo account up, and need some more in my roster. I like GBP/JPY mainly, not so much the euro or anything too exotic though.

This is the list so far;
Actively trading:
GBPJPY (1h/4h)
GBPNZD (probably, no idea but probably 1h/4h)
USDJPY (very short term if I do, mostly to keep an eye on things but also for that 0.7 spread)

Keeping an eye on things, which is stronger etc. /trade occasionally if an obvious breakout is imminent:
EURUSD
EURJPY
AUDJPY
AUDUSD
EURAUD
USDCAD
EURCAD
NZDUSD

For fun/keeping a very occasional eye on:
XAUUSD (gold)
BTCUSD

>>286678

If you're going to scalp, I'd say bounce between the 5m and 15m charts. I've done a bit of it. Did a bit today since the gbpjpy has been moving sideways all day. The volatility has given me a couple of profitable positions.

It's hard to make money with scalping if your balance is low. If you can scalp with 3+ lots though, it should give you some decent coin, but you need the cash to back it up first.

Try mixing strategies up a bit. Go for 10-20 pip positions, and if you see on the hourly that a pairing is moving sideways, you could probably pull off a few scalps in that territory and make a quick buck.

>>286768

I traded the AUDJPY a lot when I started demo trading.

Worked out well until march came around, and it just went on this bullish crawl for a month. It was nuts.

Before that, I loved the waves I could catch on that pairing.
>open a position going long for 30 pips
>position closes
>open a position going short for 30 pips
>position closes

I could pull that off once a week, sometimes twice. Not as volatile as the GBPJPY, but far more active than the USDJPY.

>>286768

I'm also looking at the NZDJPY too. I'm sticking with the GBPJPY as my main pairing but I'm probably going to start rolling with this team in the future.

GBPJPY
GBPNZD
NZDJPY

I figure this way if a specific currency isn't giving me much confidence, I have another pair with similar volatility to work with. Like the GBPJPY has been pretty flat all day, but the NZDJPY has been moving like a crackhead.

>>287256

>just go for an arbitrary number of pips based on literally nothing

This post is so fucking stupid. Don't limit yourself to an arbitrary number. If you see money on the table, you fucking take it.

>literally advocating for leaving money on the table
>advocating scalping, which only generates steady commission flow for your broker
>they get easy risk flows that they can shift in house easily
>they start dumping to get rid of risk and to trigger stops to increase commissions while gaining new risk at the same time, for the sole purpose of rinsing and repeating

>>287414

Lol this nigger doesn't trade

>literally advocating for leaving money on the table

Even hedge funds use a profit target model. Its a way of controlling risk

>advocating scalping, which only generates steady commission flow for your broker

Spread is commission now? lol tell that to the stock traders paying spread and commission. Your using the same terminology as the non trading trolls.

Again, its obvious you don't trade.

>>287256
I'm not going to scalp much, but I wanted to try it because of the demo account being an ECN account, so the spread was only 0.7 or something like that, on USDJPY (another $7 per lot traded, so not ideal for single-pip scalping exactly, but good for five minute charts). The account does have 200 leverage, so I could go up to $20 a pip with it. Realistically, I wouldn't risk 2% of the account per pip (well, it's in dollaridoos and the account is €1000, so these numbers aren't very accurate, but I'm too lazy to do proper calculations for the abysmal dollar value).

I'm aiming for 50 pip takes per day, which seems resonable on GBPJPY and similar, but I haven't set my charts up properly yet with this broker. I've been a bit lazy. Also, the lack of 8 hour charts annoy me (my favorite type of chart). You have to mentally blend two four hour candles or something (pic related, I made it in paint just now). Scalping for a few minutes could help keep me looking at the charts, rather than dozing off, or browsing (which, incidentally, I am doing right now - off to play, I am), and could actually generate decent profits even after comission, since funnily enough the one minute chart seems more predictable than the five minute.

>>287569
I don't think he trades either, but spread normally has comission baked into it in retail forex. My account is an ECN account, so it has the normal spread (very low on USD pairs, 0.5-0.8 frequently) and a comission to cover the broker costs. In that case, I would need it to move 0.7(+0.7 per lot for comission) before I got any profit out of it. This would suggest that I need to get 1.4 pips, but I'm not entirely sure that this is accurate, because the log shows I made some (very little, I was trading a 0.1 lot to begin with) demo money from just 1.1 or whatever pips, which seems impossibly low. Maybe it's because of the comission being in dollars, I don't know.

Also, don't feed the troll. Just ignore his posts.

>>287652
Well god damn it, I forgot to attach my picture. It's not that important anyway, but I loved 8 hour charts, but unfortunately most brokers seem not to have them. I was going to make a trade just to keep my account active on another broker earlier, used 8 hour charts and made 120 pips on the GBPJPY. Pretty neat - they are less jumpy (or whatever you call it) than 4 hour, but faster than daily (obviously). A good combination for something like the GBP pairs, wherever even the 4 hours will have a lot of long wicks leading nowhere.

>>287569

They also have to consider their liquidity and how it affects current liquidity. They don't just simply say, "I want x amount of pips today!"

>spread is comission

Holy fuck, did you really just ask that?

Stocks don't pay commission through spread, fucking moron.

>>287652

Now, why would you think HE trades when he doesn't know that the spread in the forex is always larger for retail brokers and they themselves set the spread? He doesn't understand how a broker profits, and brokers are a vital part of the financial ecosystem.

#rekt

>this fucking thread.

>>287662

>when this red candle is big and full, then the next candle is either completely flat or has really big wicks, and the next candle is big and green and full, BUY BUY BUY!!!
>just make sure you don't buy at the low and instead buy at the high

If that candle pattern was successful, which it isn't, like all the other patterns, why aren't there more successful retail trading stories out there? If technical indicators predicted price, then why is the retail forex volume declining? If all these books that costs 50 bucks plus actually taught you how to successfully make money in the markets, then why are they having to sell books in the first place and price them so high?

Why are you buying a service instead of actually making money?

>>288008
>If that candle pattern was successful, which it isn't, like all the other patterns

The best way to argue this coherently is presenting the stats yourself, or looking them up. Some of the candle patterns are relevant, a lot aren't. Just stating that they are consistently unsuccessful is idiotic.

>>288018

>stats

You do realize that due to different spreads across different brokers that this is inherently going to mislead you? And plus, why don't you show me which stats your talking about? Cause if it's that site from the guy who sells books and lives with his cat, you can just hand your money over to me.

None of the patters are relevant. You don't know when you're going to see one, and when you see one, it's too late.

>>288024
You do realise if you can't backtest and find objective analysis for your own assumptions that you are really just spouting a lot of bullshit on 4chan?

>You don't know when you're going to see one, and when you see one, it's too late.
You could say the same thing about the majority of parameters of trading. It's pretty much a moot point.

>>288052

You do realize each broker have different prices, right? One system can be backtested on two different brokers and yield two different results.

Tell me which statistics have been provided proving that technical indicators were designed to, and successfully, predict price.

And here I thought the troll had left. It was so nice having actual discussions about forex strategies, currency pairs, etc.

>>288063
Wow are you talking about the 1990's???

Most good brokers today have almost identical price feeds due to high competition. I can open up two accounts on MT4 with two different brokers and the charts and candles will look 99% the same.

And yes, there is loads of evidence/charts out there showing the results of backtesting certain indicators and strategies with positive results. None of them will predict price 100%, that isn't possible. Also "predict" is a bad word to use. They help a trader set a defined set of rules and help them build a strategy around what an indicator is telling them the likelihood of where price may move next. I would post a link, but you clearly are not a trader (with forex), so I'm not gonna bother.

>>288114

>i would post a link but im not gonna

You can scream as much shit as you at me, but unless you back up what you say, you're just making yourself look stupid.

>>288087

> oh yeah buy at 20 pips sl 10 tp 30 its the magic formula
>make sure to only think in pairs rather than separate currencies so we miss a lot of data
>what are futures anyway?

>>288008
You make little sense. I was showing how to blend a candle, i.e how to get an eight hour candle from two four hour candles. Steve Nison showed this, the guy who brought candlesticks from Japan in the first place. It's not a technical indicator more than a bar or line chart is. When you move up a timeframe, you get a blended candle of the lower ones. It's that simple.. and candlesticks show market sentiment visually, that's their whole point. Before any indicator can do it, candles do.

I didn't buy anything, and I wasn't even indicating a specific candle pattern. For your senseless example, a doji/high wave candle in a downtrend doesn't necessarily mean too much unless it's at resistance, which is why you would need to wait for confirmation before buying.

What's funny is that you yourself pack your charts with more indicators than I use, yet you somehow still try to pass it off as if nobody uses that (except for institutional traders, of course, but they're, uh, smalltime).

How about you start telling us price for various currency pairs, once they start up on tuesday again? You can do the hourly charts; someone asks, you say where it'll go. We'll all benefit, then. You can feel like even more of a prince than you already do, we can all make money and we'll praise your wonderous technique. But we all know that won't happen, because you're a phony.

>>288123

It's a technical indicator you fucking retard. Holy shit.

>unless it's at resistance

Resistance is a very subjective term. Who's resistance are we talking about? God's?

>need to wait for confirmation

After price has already left, yes, we need to wait.

>I pack my charts

I like to build indicators and sell them.

>how about we talk in pairs

How about you talk about individual national economies and then the international economy instead of focusing on one little detail? It's like you don't even realize you can trade a single currency.

Btw, I don't use charts. Just a price ticker.

Buy up the dollar while it's still cheap.

>>288136
You only see the current price, and not the price history? How can you tell when exactly to buy and sell with just the current price and no charts?

>>288124
>unless you back up what you say, you're just making yourself look stupid.

Your lack of self-awareness just killed a few of my brain cells.

>Btw, I don't use charts. Just a price ticker.

You just got done posting charts with trades. If you're going to troll, at least do it consistently.

Three straight days of shitting up this thread

>>288136
>Btw, I don't use charts. Just a price ticker.

Posts chart with BB, MA's and a Zig Zag


Done responding to this troll.

>>288603

Years upon years of being in the markets.

>>288615

>gets told to show proof
>ad homs

I build indicators and sell them.

>>288695

I build indicators and sell them.

>>288695
Just filter him. I got enough when he claimed that candlesticks look at previous price patterns (i.e that they are an indicator). He doesn't appear to know what a candlestick is, even though I drew one (for the blended candle) and he used them in his charts with the "custom indicators" (standard BBs, MAs that weren't even fitted well for the chart, and standard issue MT4 Zig-zag for elliot wave or gartley patterns - fibbonaci patterns, that is, even though he scoffs at it).

Pic related, just drew it in paint. I'd ask him to tell me how it predicts anything based on past price data, but he would just reply with bullshit anyway so hey. Filtered. I used the same picture for the last two, just filled/emptied out the middle and there you go.

>>289238

Even price is a technical indicator.

And again, indicators don't predict anything. They describe a situation. I sell them to idiots like you who think they are meant to see into the future.

I wrote a study in TOS that does this sort of candle merging.

>>289659
I can see how it gives you easier oversight, but why not just jump up a timeframe or two? Going from 1h to 4h blends four 1h candles together, 4h to daily is six 4h ones. Seems easier, and you won't have to have all this cluttering your screen - although as I said, I can see that it does make quick oversight easier.

Can you also write EAs for MT4?

Haven't touched mt4. Here's another one with the 1h 4h and day. That first pic has the 5m 4h and day. I wrote it for fun. I'm very visual.

>>289705

>mt4
>paying mt4 commission through spread
>then your regular broker commission through spread

>>289659

Why not go further and have the different stock market opens and closes?

>>289746
you mean like this?

guys could do with some input here please:
+3971 pips
-2008 pips
Total profit:
+1963 pips

Manually backtesting AUDJPY over two years on H4 (I can't into EA :( ). H4 chart, candle by candle.

Is this a good or bad result?

>>289718
This is very interesting m8, what do you use to make these?

>>289967
Thinkorswim from tdameritrade.

####4h
def h4h = high(period = aggregationPeriod.FOUR_HOURS);
def l4h = low(period = aggregationPeriod.FOUR_HOURS);
def o4h = open(period = aggregationPeriod.FOUR_HOURS);
def c4h = close(period = aggregationPeriod.FOUR_HOURS);
Plot opentop4h = o4h;
opentop4h.setPaintingStrategy(PaintingStrategy.HORIZONTAL);
opentop4h.assignValueColor(if o4h < c4h then color.LIGHT_GREEN else Color.LIGHT_RED);
opentop4h.setLineWeight(2);
Plot closetop4h = c4h;
closetop4h.setPaintingStrategy(PaintingStrategy.HORIZONTAL);
closetop4h.assignValueColor(if o4h < c4h then color.LIGHT_GREEN else Color.LIGHT_RED);
closetop4h.setLineWeight(2);

AddCloud(c4h, o4h, Color.GREEN, Color.RED);
AddCloud(c4h, o4h, Color.GREEN, Color.RED);
AddCloud(h4h, l4h, Color.GRAY, Color.GRAY);

>>290056
Oh shit yo nice one anon.

Ya I've heard/seen thinkorswim, their platform looks really good.

>forex

>>289746

I'm new to forex so I apologise if this is a dumb question, but your post seems to imply that using MT4/5 through your broker incurs an additional increase in the spread.

Is that the case? If so, what are the alternatives to avoiding a spread penalty like that? Only using your broker's web UI or phone/tablet app?

Also, does that imply that spread is per-client and not global based on market/market maker conditions?

>>290114
Fox is chatting absolute bollox m8. Don't listen to him. MT4/5 is just a platform. Your broker will charge the same spread whether it's through that or their own propriety platform/webplatform.

>>279194
>euro
>usd
>yuan

are there only 3 currencies left? what happened to all the rubles, the gillies, the kroners, the pesos, the deutchmarks.

Regionalized currency is the best currency

>>290114

MT4 spreads should be just a slight bit bigger than your regular broker's. Just simply don't trade on MT4. You can use the charts, just place your trades else where.

>>289778

Put it on price, not below it.

>>290114

What >>290136 said

It's just a platform. Disregard whatever Fox says. Spread is determined either by your broker, or the whatever bank/institution your broker is getting your position from.

If you're dealing with just your broker, then spreads tend to be low for major pairings. Stuff like the USDJPY tends to have less than a 1 pip spread. You're basically trying to win cash from the broker (or another client with the broker) in this case.

If you're dealing with an ECN broker, they're kind of like the middle-men. They get the positions from different institutions. In that case, the spread tends to be higher (1-1.5 pips higher than usual for most pairings), but there's less chance that your broker is going to pull some dubious shit on you. They make their money off commissions, not spreads. So it's in their best interests to keep you trading as much as possible. Plus the good ones keep your trades anonymous. They won't broadcast to the bank what your SL and TP levels are, as well as give your trade/identity a random number. So Mr. Citibank won't say "Fuck, it's John again. Let's get him this time."

>>290331

http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=2461

You might want to look at that.

>>290371

Sections 34-35 are interesting there. Thanks for the link. I had assumed all brokers were doing quasi-dodgy stuff (hunting stops and so on) to maximise their take.

so when thinking about currencies and their outlook what would you say?

"I think the Yen will appreciate?"
or "I think the GBP/JPY will fall?"

how do you make such judgements on the overall trend? what fundamental factors do you look at?

>>291137
>"I think the Yen will appreciate?"
>or "I think the GBP/JPY will fall?"

It's the same thing.
>yen appreciates/pound depreciates
>goes bearish

>yen depreciates/pound appreciates
>goes bullish

>>291137

Thinking of each currency separately is better than thinking of only pairs.

>>290331
>ECN
>Higher spread
It's the opposite. Smaller spreads, because they add nothing (normally, their fee is in the spread). They take comission per lot traded instead, though.

>>291615

Not always. The ECN's take their commissions, but different institutions have different spreads. Some non-ecn brokers have fixed, low-rate spreads, regardless of what's happening (news releases, etc.). Others like Oanda as of late, have been spiking their spreads around news events.

ECN's take their commission, but they get the trade from another institution. That institution charges whatever spread they feel like charging. The overall cost of dealing with an ecn tends to be slightly higher, but having multiple sources to draw trades from helps reduce the risk of you getting fucked over by shady brokers/institutions, as long as your ecn isn't a total fuckwad to begin with.

>>292760
Well, I only tried FinFx ECN so far, and only demo, so what do I know. I'm not even sure if they're a real ECN or not (since you can only trade full lots on the interbank market, afaik). They allow 0.1 lots as the smallest unit.

Check out average spreads on the thing there, seems pretty good to me (they're the same on the account): https://www.finfx.fi/?q=en

EURUSD moves between 0.3 and 0.8 pips, usually around 0.6 (well, it is the average - also, when writing this I saw it hit 0.2 for a split second).
GBPJPY, my favorite, has a 1.7 average now, so that's not as low, but it's good enough.
Most of the other examples there now (GBPUSD, USDCAD, AUDUSD, EURGBP, EURJPY, AUDJPY) has a ~1.4 average, with USDJPY at 0.7 (AUDJPY is ~0.2 pips higher than average as well). This isn't the best day/time to look at spreads, maybe, but yeah.

They gather up quotes from their liquidity providers, and then pick the two best ones for you. They don't just ask one bank for a single quote and give you. At least that's how I understand that it would work (I guess that's kind of what you said, anyway).

It's a damned big jump down in (fake money) costs for me, coming from any of the previous brokers I tried - FXCM UK (good platform, but bad spreads), Alpari UK (fuck them, they called my phone over a demo account - tried them for MT5, which works great, though unfortunately nobody else seems to have adopted it), Oanda (shit interface, not particularly good quotes, browser based so feels flimsy), CMC Markets (flash based piece of shit as well).

So, if I developed a bot that would automatically short currency pairs when they fell in value and automatically go long when currency pairs increased in value, do you think it'd be worth it?
Also Forex thread I guess.

So, if I developed a bot that would automatically short currency pairs when they fell in value and automatically go long when currency pairs increased in value, would it be worth it?

>>293199
EAs are legal though, right?

>>293205
>>293199

Oh god I'm dying here

>>293125

Some non-ecn brokers have the same, or similar spreads. Difference is they don't have the commission fee, which is what results in the overall cost of the trade being lower than some ecn's.

I'm personally with finfx myself. I'm not complaining about their spreads for sure. I've gone through probably a dozen demos before it from different sites, and I've found at least 2 non-ecn's that were offering the same spreads. Also, they didn't charge commission, so the overall cost per trade was lower.

But like I said, I didn't really trust them. When it's a dealing desk setup, they almost always try to make it unfavorable for you. Saw quite a few that had "random" slips in price, and ended up with a few trades getting stopped out before being profitable.

At any rate, good ecn's are the way to go. I consider the commission to be more or less a kind of insurance policy. They want me trading a lot. Fucking me over doesn't help their business at all.