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James_Bond
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EUR/USD
in
Experienced Traders
Jul 12, 2012 at 12:08
The market is still very cautious and moving slowly although I believe the trend will strengthen in a few days time. A bit of more bad news for the euro should do it 😄.
What do you expect from a broker?
in
New Traders
Jul 12, 2012 at 12:05
For reviews, I would count only on friends using the broker which can recommend it. I do read reviews on the web, although I don't pay too much attention to it as most of it is skewed by broker badmouthing each other.I don't use multiple brokers as I don't have such large amounts for trading that I need to worry about it yet. It also creates a lot of work keeping track of multiple accounts not to mention trading them simultaneously, especially when you have a manual trading system.I don't know your broker, but a new broker will always strive to be perfect in everything to attra...
Best Broker for a Newbie
in
New Traders
Jul 12, 2012 at 11:59
That is some sort of testing, problem is that if the firm is going to bankrupt, you simply can't know when is it going to happen so this doesn't really matter what happened previously. I think a good way to check with their regulation and:(1) Are the accounts insured?(2) By who the accounts insured?(3) Up to which amount are the accounts insured?I don't really know though how many brokers have actually insured their accounts and I would bet not too many as that obviously incurs more costs on their end.
How do you trade in a bear market
in
New Traders
Jul 12, 2012 at 11:54
Does a pullback means going against the trend?On Investopedia it says that a pullback is:"A falling back of a price from its peak. This type of price movement might be seen as a brief reversal of the prevailing upward trend, signaling a slight pause in upward momentum."While a Rally is:"A period of sustained increases in the prices of stocks, bonds or indexes. This type of price movement can happen during either a bull or a bear market, when it is known as either a bull market rally or a bear market rally, respectively".The way I see it, if you have a rally and a pullback a...
More Euro Difficulties Seem Likely
in
General
Jul 12, 2012 at 11:13
Yes, the current situation is very scary - it could drive the Euro to lows which haven't been seen for a few years. Would it help switching to the USD? I'm not sure, as it doesn't look like their problems were solved either.I don't think they're over with cutbacks as it's just a temporary patch to slow down their economy's meltdown.
is LMAX proper
in
General
Jul 12, 2012 at 08:48
I don't think it's an exchange, but a type of exchange, as says on their website:"The LMAX Exchange is a neutral execution venue where buyers and sellers meet, show their interest in an instrument by placing orders and where orders are matched according to our efficient, best-execution, institutional style matching rules".Notice the "institutional style" at the end.
Manual trading or EA??
in
General
Jul 12, 2012 at 08:45
Well, trading manually requires you to be in front of your trading platform as much time as you can, otherwise you can miss set ups - isn't that correct? Unless you have a trading system that works on specific hours of the day only.How much time do you spend in front of your PC then?
EUR/USD
in
Experienced Traders
Jul 12, 2012 at 07:20
Looks like support is broken! Waiting for a pullback to enter a short with
[email protected]
area.Very exciting to see what happens when it hits the 2010 low - will we be seeing new lows? Is it a sign for another world economy meltdown?What's funny in this is that US caused the last economy crisis which is only strengthening their currency now, making it more valuable than before the crisis!
EUR/USD
in
Experienced Traders
Jul 11, 2012 at 18:03
Not really, but I've just had a look at it looks quite dead. The range is so tight that it doesn't even good for scalping. Looks like it's deciding where to break, so I would wait for it to happen first.
EUR/USD
in
Experienced Traders
Jul 11, 2012 at 18:01
You too my friend 😄
EUR/USD
in
Experienced Traders
Jul 11, 2012 at 15:35
What's your signal for bull market?
EUR/USD
in
Experienced Traders
Jul 11, 2012 at 13:16
Do you think it's an uptrend? As I would argue otherwise. And by the looks of it, the price is going to drop some more.
Benjamin Nathan
in
Trading Systems
Jul 11, 2012 at 13:11
Your trading is looking good. May I know why you're not trading a real account?
"Just Oil"
in
Experienced Traders
Jul 11, 2012 at 13:09
I agree except setting the stops on break-even - I just hate it when price hits my stop on break-even just to go back through my expected tp, so I just prefer to ride it all the way to my original sl or tp.Price is probably going down to 1.18, so I will be shorting on pullbacks.
Manual trading or EA??
in
General
Jul 11, 2012 at 12:57
Yeah, but you can't sit 24 hours a day glaring at your screen, while the EA can. An EA will catch all trade opportunities, while manually you're limited to your session's span (8-10 hours?)
How do you trade the news in forex trading?
in
Experienced Traders
Jul 11, 2012 at 10:28
A 10 minute rule doesn't always work - you can see the market react one way once the news released, and only after 30 minutes see it go the other way around.I would avoid trading while news happen as slippage and spread increases always follow. Stick to your trading plan no matter what's the outcome of the news. I've tried multiple times to trade according to the news' outcome, ie better/worse than expected, however the market's reaction doesn't always agree with common logic.
Customizable EA available?
in
Programming
Jul 11, 2012 at 10:23
This is not hard to do on your own - find a free EA and alter the rules for entry/exists - the code in mql4 is pretty straight forward.
How do you trade in a bear market
in
New Traders
Jul 11, 2012 at 10:21
I prefer trading a bear market by re-entering on pullbacks and exiting once trend resumes. I avoid going against the trend (I decide on a trends direction by looking at my current and one level higher timeframe).In the above way you don't really need to have any indicators nor be accurate with your entries/exists as there is quite much margin for error and you can still be profitable.
"Just Oil"
in
Experienced Traders
Jul 11, 2012 at 10:15
The eurusd looks to be in a free fall and it doesn't look like there's any support at this moment. Would need to see some ranging market beforehand. I would definitely stick to the short side though to avoid being caught against the trend.http://www.myfxbook.com/files/James_Bond/eurusd.monthly.png
What do you expect from a broker?
in
New Traders
Jul 11, 2012 at 10:08
Well, it's very annoying to switch brokers and making me do that would require the current broker to make some unacceptable errors which up until didn't happen.Reputation is a must, so I would have to see hear some good (and real) reviews about the firm before going forward.
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