Priceman
Established member
- Messages
- 757
- Likes
- 84
zuke said:
Ok you had me there as I'm not too up to date with new prods and services, here's the details if others are unsure what ECN's are;
http://www.investopedia.com/university/electronictrading/trading5.asp
martin brown
Active member
- Messages
- 144
- Likes
- 2
zuke said:
yes, IB is direct access.
you can check their prices & spreads on their home page.
cable spread is usually 1 or 2 pips (in european market hours). But you can also sell the ask and buy the bid, and even place/hit orders inside the interbank spread.
commision on GBP/USD is approx 0.75 pips on amounts above (£65K). However they don't deal in fixed lot sizes, so you could buy/sell £145,959 if you wished to hedge an exact position in another market.
martin brown
Active member
- Messages
- 144
- Likes
- 2
btw, i meant IB cable commison was approx 0.75pip round turn (not side).
so actually cable spread is normally 1.75 to 2.75 pips.
so actually cable spread is normally 1.75 to 2.75 pips.
Money management
I think the subject of pips per trade / day is extremely subjective and depends entirely on your style of trading.
For me I make a maximum of three trades a day and my maximum ever stop loss is 25 pips. I now only trade on a confirmed set up and only trade at set times when three markets are open. I can honestly say that I only really became consistantly profitable since I don't chase trades anymore and give less money to the broker and it's also much less stressful.
When I started a few years ago I went all starry eyed and looked at huge movements in the charts and thought it can't be too hard to average 50+pips a day but it is. I thought that if you trade all the time then you'll get every move, you won't. If you over trade on a whippy day you will lose a shedload of cash.
I agree with Zuke and DC look to reduce risk and then ramp up the trade size. 100 pips at £10 a point is the same as 20 pips at £50 and I know which one you'll stand a greater chance of hitting target on any given trading day.
I think the subject of pips per trade / day is extremely subjective and depends entirely on your style of trading.
For me I make a maximum of three trades a day and my maximum ever stop loss is 25 pips. I now only trade on a confirmed set up and only trade at set times when three markets are open. I can honestly say that I only really became consistantly profitable since I don't chase trades anymore and give less money to the broker and it's also much less stressful.
When I started a few years ago I went all starry eyed and looked at huge movements in the charts and thought it can't be too hard to average 50+pips a day but it is. I thought that if you trade all the time then you'll get every move, you won't. If you over trade on a whippy day you will lose a shedload of cash.
I agree with Zuke and DC look to reduce risk and then ramp up the trade size. 100 pips at £10 a point is the same as 20 pips at £50 and I know which one you'll stand a greater chance of hitting target on any given trading day.
leovirgo
Senior member
- Messages
- 3,161
- Likes
- 156
ChowClown's VEB system results
I've been testing ChowClown's VEB system and it looks encouraging. Chow credits this system to Hans123 and SM01. Pls see attached equity curve from 2 May 2005 to 10 Aug 2006.
1 year and 3 months. 1pip = $100. Hence 3640 pips. Thanks Chow..
I've been testing ChowClown's VEB system and it looks encouraging. Chow credits this system to Hans123 and SM01. Pls see attached equity curve from 2 May 2005 to 10 Aug 2006.
1 year and 3 months. 1pip = $100. Hence 3640 pips. Thanks Chow..
Attachments
martin brown
Active member
- Messages
- 144
- Likes
- 2
zuke said:
nice one.
i'm waiting for the NY options cut off @ 15:00. could see some more action after that.
keep an eye on eur/usd @ 1.2725. looks like a key pivot level.
