Ask ANY trading related question!

[golfer_401]

Hi everyone,

Just recently started to dabble in trading ES futures. Thought I had it all figured out...I need hardly say anymore I think. The strategy that I was using was based on a book that I read that essentially uses multi timeframe momentum analysis together with EW patterns and Fib analysis. My problem was that the end of wave top or bottom never occurred where it was supposed to 😉 and money was lost on being stopped out repeatedly. I also think that I was too dazzled by the indicator.

My questions in regards to all this are the following:

1. Assuming that this method is good and that it was my inability to apply it efficiently that caused losses (I'de take that bet), should these EW/Fib/Momentum stuff be applied to reg session data only or the 24hr charts

2. Would "simple" support/resistance establishment be better and/or complementary to such a stratgey and if so, how does one go about establishing such levels. I can look at a chart and see that there is congestion in certain areas that may likely be "interesting" pivots but I don't know...someone told me that the high and low of a MACD indicator in the + to - cycle are interesting levels.

3. Could anyone direct me to some threads or boards that would be instructive for a novice ES trader trying to come up with a plan.

Appreciate any help and looking forward to navigating the board

Regards,

Ivor

 

[frygraham]

Have a look at Steve Nison's DVD & Followup Course

I had a look at Steve Nison's webinar this morning. Have a look at www.nisonspecial.com/subconscious a special price of $1,490 for his 16 DVD set and 6 months support. Available until 9 May 2009. I will try to find his latest book instead.

I’ve been looking at Automated Trading Systems as I have concluded that I do not have the discipline to stick to a strategy trading live. If you are interested look at the easy of setting up a strategy with up to 10 conditions in Ninja Trader www.ninjatrader.com compared with the programming required with GFT’s CTL language. However I came across Trading System Rankings at Collective2 where you can use existing automated strategies that 3rd parties have written for a fee. Looking at the Grid systems a few are over 1,000% annually. The Magic Moments System has only been running for 1 month but as returned 132% with 421 trades of average length 2.8 mins.

I can also recommend Nick Radge’s book “Every-day Traders” and an interview with Scott Barlow who has a win rate of 25% but has small losses as he moves his stop loss to break-even pretty early and then sets a large profit target. He gets the large profit only 25% of the time but accepts many break-even trades. Illustrating the many ways that you can trade.

Hi Guys:

I am new to this site and having trouble navigating around and doing searches to seek the info I am looking for so I decided to post a message. I hope I can how to get back here if there is any reply's😕

I want to learn how to trade the S&P E-mini and I am looking for a good training program's and course/mentorship, books to help me with my goal. Does anyone know of some good training organizations. So far I am considering the following three for different reasons:
1. Todd Mitchell's course
2. David Marsh's Tick Trader E-Mini Day Trader Course
3. John Paul's Day Trade To Win E-Course

Thanks for you time much appreciated. You could also email me if you prefer.
Cheers,
L

 

[d_snowball]

Hi,

I am an absolute newbie to trading. I am seriously considering CFD trading and have been practising with the Plus500 demo platform for about a week now. I am considering opening an account with them but would like to know if anybody knows anything about them why I should be concerned.

Thanks

Uyi

 

[Yoda_Glenn]

My First Spot-Forex/Option-Forex Hedge trade

Since this is my first post here, I will post my question here.

I have three years (on and off) of trading spot forex, but I am now looking to get into OTC Forex Options as a hedge against my open Spot Forex Position(s).


I want to know if I have done a basic Spot-Forex/Forex-Option Hedge correctly. So this is what I did, tell me if I did anything wrong:

I went long on the AUD/USD @ .7634. My take profit level is 150 pips from this entry price and my stop loss level is also roughly 150 pips from this entry level.

I then Bought (Ask) a AUD/USD Put Option with a strike price of .7500

Is this the correct way to do a basic Spot-Forex/Option-Forex Hedge? Am I missing any information? I really didn't calculate the value of the Spot Forex Lots vs. the Forex Option this time around...figured I would do it next practice trade. I just wanna see if I have grasped the basic concept correctly. Thanks!

 

[frygraham]

CFD Trading

Hi Uyi,

I know nothing of Plus500 but offer the following advice.
Paper trading is good for a start but it doesn't test your emotions when
you fall onto a losing position. Are you going to wait until it hits your
stop? If it does go into a small profit after waiting and waiting are you
going to close for that small profit? If you do that you will have larger
losses than gains and unless you have many more small gains than
losses you will go backwards.

When you are ready test yourself you for at least a month with only
the minimum size contract. Try to move your stop to break-even
fairly soon after you have gone into profit, then you should have
nothing to lose. Protecting your capital is the most important thing.

Regards
Graham Fry

Hi,

I am an absolute newbie to trading. I am seriously considering CFD trading and have been practising with the Plus500 demo platform for about a week now. I am considering opening an account with them but would like to know if anybody knows anything about them why I should be concerned.

Thanks

Uyi

 

[germanantonio]

hi, I am totally new in this, I need somebody who knows about trading in crude to explain to me what is the difference in price as today, between spot price and non spot price.

I am sorry for been such an ignorant in this matter but later on I will explain as to why of this question

 

[olatomiwa.forex]

Hello every body i want to know Do all clients on your platform get the same spreads, all of the time? Are there clients who get rebates or volume discounts?

 

[fouzx401]

Hi, I just joined the site. I am trying to figure out if I should join any of the trader development programs , like the one offered by TCA markets. Initially I did spread betting, I am currently trying out a demo spot forex trading platform.

Please can I get some suggestions on whether programs like these can be helpful, in particular the TCA Markets' program, it seems this is the only one offered in London ?

Thanks.

 

[chaser]

Spread betting Newbie

Hi
Are there any markets I can bet on 24/7? The day job doesn't giv me much time during the week and it wouldbe good to get some trading in at weeekends.
Kind Regards

 

[Thaumaturgus]

SB Quote Hours vs market hours

I've been wondering what is the effect of the difference between the quoting hours my (newly opened) SB accounts provides and the hours on the underlying exchange.

To take an example, July 09 Silver. MY SB provider (CapitalSpreads) provides quotes between 0700 and 2100 UK time. Comex, however, are open from 2300 the night before until 2215 the same day.

Yesterday's OHLC data is as follows:

CapitalSpreads: 13.99 - 14.05 - 13.63 - 13.80
COMEX website: 13.98 - 14.08 - 13.63 - 13.83

Am I right in thinking that these differences (small, I know) are explained by the difference in opening hours?

If so, what bearing does this have on someone hoping to implement a strategy based on EOD prices?

Thanks in advance.

GC

 

[billyhk]

This new sticky thread is targeted to all new members and existing members who are making their first posts.

In this thread, feel free to ask ANY question relating to trading, however simple you think it is. Our forum advisors and more senior members will be happy to answer them for you! :smart:

:!: If you think your question requires more than a quick reply, it's best to create a new thread in the appropriate forum, so that a discussion about it can develop.

I am using MT4 for forex trading, I want to know how am I get the track record from the MT4 and attach my track record in here, because I want others to give me some comments and improve my trading skill. Thank you.

 

[JimNewbian]

Can anyone give me an honest review of "Short Term PowerRatings " from tradingmarkets.com?

Thanks in advance

 

[nico.loop]

Hi everybody!
my name is Nico, and I'm new to trading.
I started six months ago and ever since focused on Forex (eur/usd) and Dow jones intraday swing trading.
I'd be grateful to know what performance, what return on capital I should expect in my first year of trading.
At the moment, I prefer to trade Forex on the 1min/10min timeframe with a 6 pt stop loss.
What kind of reward/risk ratio should I aim to?

thanks everybody for any answer.
nico

 

[bigdannyc]

fapturbo

hi everyone
im fairly new to trading forex and was looking for help as i have lost quite alot of money so far,i came across fapturbo is this a scam? and is there such a thing as a trading robot that works?
thanks for your help

 

[robinmex]

anybody heard of Jack Crooks Beta tester system touted by sovereign society

 

[TheBramble]

Yes, it's crap. Avoid.

 

[Anyo]

I sometimes read about closing half a position to protect profits, but I don't understand how one does that. Can someone help please?

 

[Rich14304]

I sometimes read about closing half a position to protect profits, but I don't understand how one does that. Can someone help please?

They are referring to a position size. One may have opened a position w/ 100k. When advisement close 1/2 a position they are meaning close 50k.

The actual value of Standard account.. mini acount ...micro .. doesn't matter as long as it is not the smallest position size available. So if you were a micro a 1k, close .5k

Hope this helps

 

[fouzx401]

GFT's fx platform

Hi Guys,

Does anybody have an experience of GFT's trading platform. I have been using their demo plaform trading spot fx - I was told by one of their employees that "at times" the demo quotes lag the actual market by around 10-15 mins, well maybe he used phrase "at times" to cover himself and at the same time not to push away a procpective client.
Is this typical of other brokers/dealers too ?

I am a novice in trading and am very keen to learn FX trading, please could you suggest any reliable platform to try and specific things in the system I should be looking for in deciding to open a live account.

Many Thanks.
Regards,
Fouz

 

[advencha]

Hi, I have been following an interesting method of trading the S&P emini futures. The author is John Paul from Day Trade to Win Official Site, E mini S&P Futures Day Trading System, Strategy and Automation I'm wondering if anyone has found any genuine, independent reviews on this methodology.
Cheers, advencha