Currency Trading (Oct 9th > 13th)

Who will be Top of the Pips at the end of this week? Will it be.......

  • Yazz - The Only Way is Up

    Votes: 6 26.1%
  • Idlewild - Stay The Same

    Votes: 0 0.0%
  • The Quo - Down, Down, Deeper and Down

    Votes: 8 34.8%
  • Transvision Vamp - Baby, I Don't Care

    Votes: 9 39.1%

  • Total voters
    23
  • Poll closed .
it pulled back to optimal entry (I was sleeping when optimal occurred). LONG 1.8560.
 
I was long but got stopped out for -30
I'm now short (computer says so) and that is bound to go wrong as well.

Looks like one of those days.
 
trendie said:
it pulled back to optimal entry (I was sleeping when optimal occurred). LONG 1.8560.

Well, one of us going to have a disappointing day, I'm short, looking for the test of 8500 :rolleyes:
 
Offshore Trader said:
Well, one of us going to have a disappointing day, I'm short, looking for the test of 8500 :rolleyes:

not necessarily. as long my Long condition remains, I will add to my long pull-backs, to a maximum of 3.
I would love a re-test of 8500. :)
 
How about 'SPREAD WATCH' Forex Traders helping themselves.On all the trading sites,forex traders print a screenshot showing what spread they're getting for a certain pair.At the moment,Oanda shows line graphs of recent spreads for various pairs but these are grainy and didn't flag up the recent 25% increase (20-25) in the spread for NOK.If there's a record that traders can refer to it becomes more difficult for brokers to chisel extra profit?Of course if someone has a utility to monitor spread--that would be good too.It would be usefull to highlight if different Co.s raised spreads on certain products at the same time ie cartel activity.What do you think?They can't mess with the majors too readily as the existence of a 'true market' in the futures gives a handy reference point.
 
Today NOK is back to 20 pip spread on Oanda--At least they listen.I still feel the above approach would be usefull though.
 
Jonnyy40,

Perhaps you should consider changing broker. CMC spreadbet has the following spreads and unlike most the spread is pretty well fixed:
EURUSD... 2pips
GBPUSD... 3 pips
USDJPY... 3 pips
USDCHF... 3 pips
GBPNOK... 12pips

They quote about 60 pairs so I'll not list them all. The other thing that is different with them is they work in units of £1 per point (UK site) not in lots. So whatever pair you trade the value is always in £s per point.
 
I use futures for those pairs that have them but it's really like you say the sudden increases in a particular pair that annoy me (They don't give a reason) of course we all know it's to carve out a 'little' more.It would be handy if there was a place where all could go just to check that there's no chiselling going on.If all of us posted a screenshot or 'spread report' when we had the time,then that would add up to a fairly usefull and consistent knowledge base that would keep Co.s on their toes.Maybe a blog site or like I say,a 'Spread Watch' thread on each of the forex websites.Having accounts with several 'brokers' is also a good idea but if we can encourage the good to get better then that suits all?
 
If you are trading currencies with big spreads then spread is an issue. For the majors, service and the way they run stops is far more important IMHO. City Index are not the tightest on spreads but their order running is excellent in terms of fills in fast markets but also they don't always stop you if it hits your level exactly and then moves away again. That to me is invaluable
 
Efx

Quck snapshot of EFX prices Jonnyy
 

Attachments

  • EFX.gif
    EFX.gif
    25.6 KB · Views: 237
Where's that thread that dealt with an 'off the peg' interface for spread-bet companies that allowed them to set individual spreads for each customer?GammaJammer posted on it if I remember rightly?Perhaps there should be a 'Items To Bookmark' Thread too.
 
USDNOK is 40 pips on CMC.
( I think there might be confusion between GBPNOK in Uphios' post, as oanda may still be better. )
 
jonnyy40,

your views about having a one-stop crib-sheet of spreads of all SBs is a good idea.
Put it in the Members suggestions so it attracts the attention of Sharky and his team.
 
hans123: the view seems to be system generated a loss of around 440 for Sept, using classic hans123 signals.
( just posting for purpose of benchmark, if anyone wants to know if they did better )
 
ChowClown said:
Morning all, wasn't around at 8am to get the usual orders on, so not long yet. Will be in if it pulls back to 594.
...well, i thought i had the order in long 594 earlier, but i didn't, just as well in hindsight or i'd be sitting on 2 losers today rather than 1. Took a loss on a short from 560 earlier. The chop making mincemeat of the strat today, so no orders re-armed. Finished for the day, hopefully tomorrow will have more one way action.
 
not too bad considering -34 for the day on VEBO.

I wonder if its worth playing on a day when the morning gap is as small as it was this morning. Will back test and confirm.
 
Top