# Scalpers and short termers...



## >Apocalypto< (21 July 2009)

Hi fellow micro trend chasers.....

Thought I would start a tread for all of us that are in and out of our fx trades in 1min to couple hours.....

Join in, post losses headaches, wins, sytems, ideas--- whatevea....

I am trading with Interactive Brokers and charts MT4 from ACT

Mine is the us session on GBP/JPY tonight heartache to even contemplate trading with the bar ranges it put out...... 

hence all the posts I have made tonight... o well tomorrow


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## Stormin_Norman (21 July 2009)

*Re: Scalpers and short termers.......*

i got 60 pips short on the gbpusd tonight. unfortunately only a demo of a new bot im testing


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## >Apocalypto< (21 July 2009)

*Re: Scalpers and short termers.......*



Stormin_Norman said:


> i got 60 pips short on the gbpusd tonight. unfortunately only a demo of a new bot im testing




I got nothing but a headache. missed the London session....

greeted with thin crap for the us..... Cable not much better....


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## Stormin_Norman (21 July 2009)

im using a marginal MA + MACD system. tests think its ok. be interesting to see if it is actually any chop.


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## >Apocalypto< (21 July 2009)

Nice one norm,

keep us posted.

I use this method for 1-2min; 

http://www.trading-naked.com/FloorTraderMethod.htm

with attached indi

goes ok, but i am still learning to combine it, just took 8 pips on a 40K lot.

calling it a night


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## Stormin_Norman (21 July 2009)

i have a very similar method to yours on another EA.

i use MA slope with an offset + RSI. same idea though.


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## >Apocalypto< (21 July 2009)

Stormin_Norman said:


> i have a very similar method to yours on another EA.
> 
> i use MA slope with an offset + RSI. same idea though.




yep, about spot on to what I do.

the slope is very important.........

plus I have rules on what signals to take after cross and retrace to sleepy to get into it now.

Good trading Norm

**they're moving now cleanly now (Cable & GBP/JPY)****


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## macca (21 July 2009)

Hi Apocalypto,

I am currently wrestling with the GU at opening time, not profitable yet but I persist.

I am not able to read what settings you have for the HA Histos, could you tell me please, also are you using MAs as in the link ?

I will set up a chart using your method and see how it goes on GU.

thanks


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## Stormin_Norman (21 July 2009)

if i may make a suggestion.

look at charts. think about a method. for example - i want to buy in the direction of the trend, but at a good time - during a dip.

then think about what can indicate a trend. in its most simple form, a moving average can simply show how long a trend has gone on for, and by its slope, how strong the trend is. this general idea can be as simple or as complicated as you like.

then think about what indicates a good time to buy into the trend? Maybe its a strong slope on the MA which has levelled off a bit, but not gone negative. it could also be the RSI. If your trend is upward, look for RSI to indicate the market is oversold and on its way back. Perhaps its time to buy.

i find a lot of traders begin at the end. have all the indicators in the world, but no simple hypothesis on how their method will work.

as a result they do not understand what story the indicators are telling them, and often end up with multiple indicators, often reflecting similar pieces of the market story.

so if i may simply give some advice:

1. think of a general method (hypotheses)
2. look for indicators which tell the different parts of your story (develop the experiment)
3. play with the settings, and visually backtest how it would perform on the market to find what you think are good settings.
4. test it in a live environment (either demo or micro account), adhering religiously to your developed rules.
5. examine the results, and think how the story could be better told. or if you are missing a slight part of the story which would help improve it.


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## >Apocalypto< (21 July 2009)

macca said:


> Hi Apocalypto,
> 
> I am currently wrestling with the GU at opening time, not profitable yet but I persist.
> 
> ...




I this case you will have to get very familure with the link. As I have posted about with Norm, the slope of the MA and taking the first signal after the cross is the best way to come out on top. the best signals IMO are L2 and *L1* try at the start to limit yourself to only those. You have to wait but that's the game.

the heiken ashi settings are

1st in inputs 1 3 2 1 
2nd " " " "     2 6 3 2 

any more q's ask away.

I really stress get to know the system then concentrate on the indicator, I consider it training wheels. In a month to 3 i wont be using it any more. ( I hope ) 1min is fast you will will see.

also when u see a range developing stay out. you can fell this by the way the bars expand in their range.

cheers


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## Stormin_Norman (21 July 2009)

the robot seems to be doing its job:


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## macca (21 July 2009)

Thanks for that info, will keep poking around for the next week.

I will be going on a lap around this great big land for the next 6 weeks after that, so will have more time when I get back home.


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## Kryzz (21 July 2009)

Would one place more emphasis on the _slope_ of the moving average, as opposed to how far  price is above/below the moving average, i.e. could still be sloping up, however what if price remains hovering around the moving average, or if price is well above the moving average but the slope of the MA is relatively flat, would've thought it would lead to more whipsaws/mixed signals ?

Shaun.


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## >Apocalypto< (21 July 2009)

Kryzz said:


> Would one place more emphasis on the _slope_ of the moving average, as opposed to how far  price is above/below the moving average, i.e. could still be sloping up, however what if price remains hovering around the moving average, or if price is well above the moving average but the slope of the MA is relatively flat, would've thought it would lead to more whipsaws/mixed signals ?
> 
> Shaun.




good questions.

For me.....

the slope is key 1. I also look at the price distance form the ma. If it's right off I wont take the trade. I like the signal to come close to the 9 or off the 18 with a strong slope.

I like to take signals that are not on the cross but after 3-6 bars even if I wait till a solid L1 comes.

stops at the pattern low.

if that makes no sense have a quick read of the link in post 1.

cheers


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## Kryzz (21 July 2009)

>Apocalypto< said:


> good questions.
> 
> For me.....
> 
> ...




Will go over that link now, thanks.


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## Stormin_Norman (21 July 2009)

what does it tell you?

the slope is telling you the general movement of the market. a steep line indicates a stronger movement.

price well below the MA says that the recent market has moved even more strongly in favour of the trend; but could pull back as profit takers close positions after a strong move.

what i like is price above a strong downward trend. this could indicate that the market is preparing for another move in the trend direction. hence i often use a MA slope offset, looking back a number of bars to see how strong.

atm the short term robot has a long on the yen, quite nicely into profit. aiming for 94.58


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## >Apocalypto< (21 July 2009)

trades on the cable.

1. strong slope retrace into the area nice - win
2. decent slope ent bar to far off ma bad trade - loss
3. good slope into mas got out a little too quick - win
4. silly trade as bar to wide off the ma - loss
5. slope ok, held passed next retrace got out again a little too quick. - win
6. strong slope took first retrace nice one - win

missed a few made a few mistakes but overall positive night. trade 4 was silly took away 1/4 of my winnings.

one thing about scalping like this u have to stay focused disciplined and reject entry's shoot for the plum set ups. 2 and 4 were bad trades that turned a good nights take into an on par night.

Mind frame is so important in this type of trading.

I am still learning.....

Cheers & enjoy,


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## alwaysLearning (21 July 2009)

This is an interesting thread, thanks for posting. 

I'm going to test a few things in this strategy with a demo account


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## Stormin_Norman (21 July 2009)

>Apocalypto< said:


> trades on the cable.




i got a long on cable about 5 minutes ago. just as it bounced up.


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## >Apocalypto< (21 July 2009)

Stormin_Norman said:


> i got a long on cable about 5 minutes ago. just as it bounced up.




nice 1!

watching it now really taking off. 

enjoy!


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## cashflow_08 (21 July 2009)

Keep it up. Acopolypto! Learnt some new and good lessons from the link you provided. By the way, any more tips on exit good potential extenties entries?

Cheers


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## Stormin_Norman (21 July 2009)

if im looking to enter on an upward trend when the market is seemingly oversold- i will exit when it seemingly is overbought.


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## Kryzz (21 July 2009)

Stormin_Norman said:


> if im looking to enter on an upward trend when the market is seemingly oversold- i will exit when it seemingly is overbought.




Is that to say you won't have an initial stop in place when you enter a trade, be it at a prior swing/pivot high or low for example?


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## Stormin_Norman (22 July 2009)

no stop? are you mad?!


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## macca (22 July 2009)

Hi Apoc,

Just trying to line up your chart with mine  Which broker is that chart from or better yet, what time of the day here in Oz are you using the method ?

I am presently trading around 3.30pm to 7.00 pm looking for 40 pips a day (average). In reality I would be very happy with 100 a week as long as I can do it with small stops so that I can increase my pip size.


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## Stormin_Norman (22 July 2009)

get the idea, not the chart.


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## macca (22 July 2009)

Hi Norman,

I have the idea, had it for quite some time actually 

I was just having trouble lining up the appearance of the charts, most people who trade short term usually trade a busy time of day. UK open for example then through to the USA  session, not usually GU in the asian session as it appears to be on Apoc chart, so I thought I would ask.


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## Stormin_Norman (22 July 2009)

very true. i more more meaning, its not an exact science and i think there is more to gain from developing your own market 'story' as opposed to just copying another.

who knows, your differences might prove to be advantageous!


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## dasmith1973 (22 July 2009)

Great ideas SN, I take it you are having success with mean reversion type plays on larger scale?  Would certainly be great to get away from the current focus by ea's on the asian small stuff!


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## >Apocalypto< (23 July 2009)

today/tonight, dropped the indicators.

all focus on the slope and the pa on the trend. also big thing I am finding best to wait for the price to really shape the slope then ent on a signal.

refer to chart.....

1. great slope L1 off the mas held this one- win.
 see the circled crap. i dont take signals of 9ema after a move like that and after a signal off the 18ema. sat out bars in the range way to wide more reason to sit out.
2. risky one. wide bar, but i liked the slope had to wait exited early as retrace freaked me out. win
3. strong slope retrace to 18ema. win
4. very strong slope off the 9ema a little risky but took it as first retrace on a run away rally. win
5 to many wins sends u blind! silly trade average slope not off mas did not leave enough time to confirm slope. LOSS
6. good slope into ma area. win
7. good slope into area pasted 1st retrace as not near mas.* i was in on bar after small one*. the enter into ma area confirmed it for me to hold (careful doing that though, a little impatience on my part in truth). win

much better tonight. tell u all the truth you don't need the indicators if you can wait on the right set ups ! Trade 5 was a mistake but I made it. 

you will always lose a few in scalping that is a given. I judge myself on how and why it was a loss. If the market called my bluff and took me out I live with it. If I trade like an idiot and the loss is a bad trade on my part that's a different story.

good trading


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## >Apocalypto< (23 July 2009)

macca said:


> Hi Apoc,
> 
> Just trying to line up your chart with mine  Which broker is that chart from or better yet, what time of the day here in Oz are you using the method ?
> 
> I am presently trading around 3.30pm to 7.00 pm looking for 40 pips a day (average). In reality I would be very happy with 100 a week as long as I can do it with small stops so that I can increase my pip size.




the chart is from ACT they run on Californian time i am 98% sure.

in terms of lining it up. I start looking to trade at 3:30-4 pm Melbourne time. 1 hour before London opens trade till 8:30 MEL time with breaks. 

for interbank and session times see link below.
http://fxtrade.oanda.com/resources/fxmarket hours/

**take the space out form /fxmarket and hours**

Stops I use a 10 pip stop on cable most of the time but i close manually. this part comes down to u. 

cheers,


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## MRC & Co (23 July 2009)

>Apocalypto< said:


> today/tonight, dropped the indicators.
> 
> good trading




Ah, welcome to the dark side Apoca!  :evilburn:


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## Cartman (23 July 2009)

MRC & Co said:


> Ah, welcome to the dark side Apoca!  :evilburn:




lol --- good thread too Apoc 


you up late attacking the Euro Mirc !!


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## MRC & Co (23 July 2009)

Cartman said:


> you up late attacking the Euro Mirc !!




lol, na, I was up late being attacked by the hot crude oil pit!  

One day I am gonna walk in there with enough size to set their stops off!


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## Cartman (23 July 2009)

MRC & Co said:


> lol, na, I was up late being attacked by the hot crude oil pit!
> 
> One day I am gonna walk in there with enough size to set their stops off!





hot --- crude --- attacked --- oil ---

mmm..... i've heard about girls like that !!


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## macca (23 July 2009)

Hi Apoc,

Thanks, I am starting at around the same time then, 3.15pm to ???????

I was confused because I have never seen a feed with times like that. Most are either GMT or USA Eastern End of Day (Wall st time)

Thanks for the examples, the principle is the same as a few things I am working on, move (trend), pull back, continuation.

I am getting better at taming this beast


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## cashflow_08 (23 July 2009)

Hi apocalypto,

The link provided fllor trader. 9 and 18 MA's are for futures. Is there a variation of this MA's in currencies. Special settings?  Any extra incator you use to filter the trades.

Thanks


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## >Apocalypto< (23 July 2009)

macca said:


> Hi Apoc,
> 
> Thanks, I am starting at around the same time then, 3.15pm to ???????
> 
> ...




any time you want to trade is up to u.

I look at 3:30-4pm to 8:30 pm as I have noticed it's the most liquid, each day is different though.

what pair are you trading? I am focusing on the cable but also looking at GBP/JPY. I want to end up on the GBP/JPY when I have a good handle on this. 

Moves a hell of a lot more. on the other side can take a lot more from u as well.

look at morning and Asian session today great clean moves.

1. is the trade I took this morning.

circles some other qualified set ups IMO

cheers


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## >Apocalypto< (23 July 2009)

cashflow_08 said:


> Hi apocalypto,
> 
> The link provided fllor trader. 9 and 18 MA's are for futures. Is there a variation of this MA's in currencies. Special settings?  Any extra incator you use to filter the trades.
> 
> Thanks




Cashflow,

The original plan was to trade the Dow Jones EURO STOXX 50 future on Eurex.

This method works on any market ans time frame. I have been into FX for the last 2.5 years and after looking at the 1 min cable I noticed it suited it well, GBP/JPY even better IMO. I use 9 and 18 ema like method advises but you can mix it up,whatever feels right for u.

One thing I have to say if you want to trade FX under 5min you need an ECN broker with interbank spreads. If you try it with 3 or more on the cable for instance you will die in spread costs. Futures as well you need to trade the actual.

just remember mate. what i prefer and suites me may not be for u so mix up the markets and time frames. Your personality may differ form mine so 1min on cable and other more aggressive pairs may not be right for u. You have to find what fits in with you.

Good Trading


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## macca (23 July 2009)

Hi,

<<what pair are you trading? I am focusing on the cable but also looking at GBP/JPY. I want to end up on the GBP/JPY when I have a good handle on this. >>

I am trading GBPUSD (cable ) I have looked at the GJ but the spreads are bigger as are the moves, so I will stick with GU for now.

I find it a nice middle ground, more moves than EU but not as many as GJ.


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## >Apocalypto< (23 July 2009)

macca said:


> Hi,
> 
> <<what pair are you trading? I am focusing on the cable but also looking at GBP/JPY. I want to end up on the GBP/JPY when I have a good handle on this. >>
> 
> ...




GJ can have wide spreads during the day tends to tighten up after 4:30. I agree cable is more forgiving. The cable tends to range up a little more. this is were slaope of the ma is so important to learn IMO *I was cleaned up a couple times on G/J.* 

Good to hear u have found a pair. Like I said under the right conditions it works on any pair or future. (but under the right conditions what system doesn't) silly thing to say i know.

when u can post some charts with some trades.


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## macca (23 July 2009)

Hi Apoc,

<<when u can post some charts with some trades. >>

I shall when I get back from holidays, I will head them up "DON"T DO THIS"  LOL

My problems are mainly in my head, I am a control freak and am not used to being wrong, so I get stubborn and that is deadly


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## Cartman (23 July 2009)

macca said:


> I am a control freak and am not used to being wrong, so I get stubborn and that is deadly




lol --- at least u recognise it Mac --- half the battle.

ps that being the case, *dont* scalp -- try swinging/scaling in on the bigger moves with lower position size entries + add ons ---- might help 

(demo it first of course !! )


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## Glen48 (23 July 2009)

************** Pty Ltd
Any one heard of this group been open on the Gold Coast since late last year and offering a automatic trading platform which places trade as it see fit??
Or you can follow their traders online in the FX market/


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## Glen48 (23 July 2009)

That's strange?? **************s PTY LTD?


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## Timmy (23 July 2009)

Glen48 said:


> ************** Pty Ltd
> Any one heard of this group been open on the Gold Coast since late last year and offering a automatic trading platform which places trade as it see fit??
> Or you can follow their traders online in the FX market/






Glen48 said:


> That's strange?? **************s PTY LTD?




Glen, that firm has been flagged as spammers here at ASF.  The asterisks automatically replace the firm's name once they get spotted as spammers.

Was actually very funny.

This afternoon someone posted that he had been a client for 5 months and that the product was really good etc.  Problem was, when we checked the poster's registration details (first time poster today) turns out his email address was such and such at the name of the firm he was recommending .com.au

So, sprung as as a spammer (not to mention conduct that was likely to deceive or mislead), and a really silly one at that...


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## Mr J (23 July 2009)

Cartman said:


> ps that being the case, *dont* scalp -- try swinging/scaling in on the bigger moves with lower position size entries + add ons ---- might help




This is essentially what I do. I use the trends on a fast timescale to make multiple entries on a wave of a slower timescale. Trading multiple contracts also allows for more possibilities, such as a mix of taking profits and letting some ride, as well as allowing cheap speculative entries.


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## Glen48 (23 July 2009)

Thanks save me a few bucks.. I did search them on here but nothing popped up.
Hi Glen,



Please find attached the information as requested.



 If a 10% deposit ($980.00) is paid by 4:00 pm on Friday 24th of July 2009. You will receive the Gold membership plus our incentive this week, only to receive our Automatic trading platform for no extra cost.

 Your deposit is 100% refundable.



Regards



Adam Matthews
Senior Consultant



************** Pty Ltd

Suite ****** ********Road

******* QLD ****



Phone:  1300 ********

Fax:      1300 ********



Email: admin@**************.com.au

Web:  www.**************.com.au


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## Mr J (24 July 2009)

Simple trading - higher highs and higher lows, breakout is a bonus. Simple trend riding, managing to catch some nice movement. The bottom chart is used to estimate the profit potential of a trend, i.e. identify areas of support, resistance and reversion. No need for indicators, at least not with the strategy. It's obviously discretionary, as the earlier mess on the fast chart could have been viewed as a lot of highs and lows, but I chose to ignore them and count it as a couple of larger waves.


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## >Apocalypto< (27 July 2009)

Thought I would give you guys a look at IBs FX Trader with Book trader.

that's right that's Interbank volume on the book. IB also gives deal volume on each price change.

I use the downloaded stand alone TWS with FX trader. I have not used book trader to trade yet but I am looking into it.

cheers,


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## Stormin_Norman (27 July 2009)

that's be the broker's book bids and asks; not the aggregate of all the markets (which noone can see due to the decentralised nature of FX).


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## >Apocalypto< (27 July 2009)

Stormin_Norman said:


> that's be the broker's book bids and asks; not the aggregate of all the markets (which noone can see due to the decentralised nature of FX).





IB are a direct ECN via Ideal Pro so I am not sure if that's right or wrong till i ask IB.


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## Wysiwyg (27 July 2009)

Odd that the orders are neat round figures.


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## Trembling Hand (27 July 2009)

Wysiwyg said:


> Odd that the orders are neat round figures.




Why?


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## >Apocalypto< (27 July 2009)

Trembling Hand said:


> Why?




I didn't think anything of it as banks would want to move full numbers as it makes transactions easier. 

I have also seen currenex on a instu feed, the hot keys for orders were all full numbers.


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## Wysiwyg (27 July 2009)

Wysiwyg said:


> Odd that the orders are neat round figures.






Trembling Hand said:


> Why?




The capital letter on interbank (between banks) threw me. It isn`t the broker Interbankfx (IBFX) but Interactive Brokers fx.

 that's right that's *I*nterbank volume on the book.


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## Stormin_Norman (27 July 2009)

the numbers are too small to be anything but IB's individual market book. the total should be about 5 trillion a day.

there are thousands of fx markets, IB is just one.


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## >Apocalypto< (27 July 2009)

Stormin_Norman said:


> the numbers are too small to be anything but IB's individual market book. the total should be about 5 trillion a day.
> 
> there are thousands of fx markets, IB is just one.




I think it's more then that. I have seen about 16 x 15 mil lots gone though in 2-3 min plus all the other size orders with bigger then 15 as well that's on the cable!

a 29 mil just went though AUD


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## >Apocalypto< (27 July 2009)

Stormin_Norman said:


> there are thousands of fx markets, IB is just one.




There's only one interbank I believe, with thousands of participants..... 

Anyone can make an FX market, but there is only one bank to bank integrated market.

IB, Ideal Pro is a real ECN....

The FX market has shurnk due to the credit crisis I would be surprised if its still 5 trillion.


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## Naked shorts (27 July 2009)

Apoc, do you know how many banks are quoting on that system?


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## Trembling Hand (27 July 2009)

Stormin_Norman said:


> the numbers are too small to be anything but IB's individual market book. the total should be about 5 trillion a day.
> 
> there are thousands of fx markets, IB is just one.




you aint gonna get 5 trill sitting in the order book 

Here is the Time and Sales (reduced by 000's). About 15 mil per second going through. that enough of a market?


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## >Apocalypto< (28 July 2009)

Stormin_Norman said:


> the numbers are too small to be anything but IB's individual market book. the total should be about 5 trillion a day.




The volumes are down, see report in the link.

http://forexmagnates.com/steep-drop-in-institutional-forex-volume-is-reported/


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## >Apocalypto< (31 July 2009)

Info post for this afternoon / tonight.

Boxes.

Blue box shows a premium trading condition. low ranges nice and liquid.

Red box shows the market start to chew out. with wider ranges on the bars this is a dangerous time to trade as you can have a few ticks take the price right off and clean u up. watching the price move back your way after the thrust is even more painful. 

best thing is to identify this as soon as you can. If you plan to trade on, keep it in mind.....

thanks to TH I am now trading at market and with stops!!! 

trades.

1. wider stop as 3 pips to the side range. that tail just missed me!  angle nice, retrace good distance from the cross all systems go. Win
2. nice angle, away from the cross nice tails nice win.
3. more aggressive trade as market dynamic had changed (refer to range before rally) what sold this to me was the angle with strong bar off the 18ema. small scare on the retrace after ent. Win
4. silly trade took what i thought was a quick retrace to quick bar down. LOSS

The red squares show other hindsight trade opps that I missed / did not take. 

I am learning that the key to this method is the ent pattern with holding your nerve. don't jump out to fast hold em till u hit 10 or 10+ pips it's hard to do but important. as has been mentioned you need to hold as 3 x 5pip wins will be ripped up by a 10pip loss  + all the coms. this is a skill I am working on, once I get 2 -4 side ranges I am looking to exit. 

Cheers


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## >Apocalypto< (31 July 2009)

a couple more from tonight.

1. signal still in the range angle good. signal too close to the cross, not confirmed. passed.
2. new trend confirmed, angle great on mas L2 signal. WIN
3. News hit, once direction determined signal came, L3 signal bar touched 9ema. MA slope/angle extreme signal bar made a new low. WIN

Nice night tonight....


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## >Apocalypto< (1 August 2009)

Naked shorts said:


> Apoc, do you know how many banks are quoting on that system?




no idea NS,


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## Mr J (1 August 2009)

>Apocalypto< said:


> with wider ranges on the bars this is a dangerous time to trade as you can have a few ticks take the price right off and clean u up. watching the price move back your way after the thrust is even more painful.
> 
> I am learning that the key to this method is the ent pattern with holding your nerve. don't jump out to fast hold em till u hit 10 or 10+ pips it's hard to do but important. as has been mentioned you need to hold as 3 x 5pip wins will be ripped up by a 10pip loss  + all the coms. this is a skill I am working on, once I get 2 -4 side ranges I am looking to exit.




Yeah, best to avoid very choppy conditions, or switch timeframes - slow to get above the chop, or faster to have the chop as tradable (if the size of the moves allow it).

Holding is definitely important. I risk about 4 ticks per trade, and pay 0.4 to 0.6 ticks in comissions, so I already need a 10-15% return just to break even. Then there's the spread; if we hit the bid and ask, we lose a tick there, and if the spread jumps out to multiple ticks, it makes it that much harder. An extra tick per trade may turn an unprofitable trader into a profitable one, so we have to milk every tick we can.



> 4. silly trade took what i thought was a quick retrace to quick bar down. LOSS




Funny how the silly trades usually seem to lose .


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## >Apocalypto< (1 August 2009)

Mr J said:


> Then there's the spread; if we hit the bid and ask, we lose a tick there, and if the spread jumps out to multiple ticks, it makes it that much harder. An extra tick per trade may turn an unprofitable trader into a profitable one, so we have to milk every tick we can.




who do you trade with? 



> Funny how the silly trades usually seem to lose .




Yeh got cocky after a few nice trades....


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## Mr J (1 August 2009)

> who do you trade with?




IB, but only futures. Commissions range from about 0.4 to 0.7 tick per contract in commissions. Throw in another point for the spread, and it shows how important it is to maximise profits. Those big wins can make all the difference, and the rest of the time I might really just be treading water?

Of course it all depends on the timscale/trading range being traded. The smaller the range we try to capture, the more of a hurdle the spread and commissions become, and the more our mistakes hurt us.


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## >Apocalypto< (3 August 2009)

Mr J said:


> IB, but only futures. Commissions range from about 0.4 to 0.7 tick per contract in commissions. Throw in another point for the spread, and it shows how important it is to maximise profits. Those big wins can make all the difference, and the rest of the time I might really just be treading water?




yep, but try this on a different broker and you will see that its almost impossible.


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## >Apocalypto< (3 August 2009)

very quiet day today. EURO open still in a range. when in this type of market, I wait as trying to trade can result in unnecessary losses.

knowing and being able to identify when not to trade is a very important part of successful trading, IMO

see what London open throws up! 

cheers


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## Stormin_Norman (3 August 2009)

unless there was a weekend g8 meeting or something similar; monday's asian session is an absolute non-event.


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## Naked shorts (3 August 2009)

We have Canadian exchange and bank holiday today, so expect that to dry liquidity up a bit tonight.


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## Naked shorts (4 August 2009)

Well so much for Monday being a non-event Storm, 240 pip range on the e/u....had some good trades today playing the breakouts 

p.s. normal range for e/u on Monday around 150pips (last I checked)


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## Stormin_Norman (4 August 2009)

that movement happened in europe though; i was talking monday asia.


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## Mr J (6 August 2009)

Triangles everywhere at the moment. AUD, EUR, JPY, GBP.


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## >Apocalypto< (8 August 2009)

The best afternoon to night I have had..... $/JPY really delivered!!! 

no need to point out the trades they are quite easy to spot...

The $/JPY is a top pair I have been on it last few days, the spreads tend to be tighter then cable...


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## >Apocalypto< (8 August 2009)

as you can see NFP on the cable was a barrel of fun...

A nice long set up before the NFP...


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## Naked shorts (8 August 2009)

Lucky you, I'm kicking myself as I spent the first half of the night setting up a new screen instead of trading.


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## >Apocalypto< (8 August 2009)

Naked shorts said:


> Lucky you, I'm kicking myself as I spent the first half of the night setting up a new screen instead of trading.




that's a pain in the ass I know as well! 

:bonk:


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## Naked shorts (8 August 2009)

Im in a few trades right now, I don't normally do this, but these are extraordinary times.

Long:
usdjpy
gbpjpy
usdchf
nzdjpy
audusd

Short:
usdcad
eurtry
usdtry

Right now they are all in profit except usdcad and audusd

I think its pretty easy to figure out the theme im going for


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## >Apocalypto< (8 August 2009)

Naked shorts said:


> Im in a few trades right now, I don't normally do this, but these are extraordinary times.
> 
> Long:
> usdjpy
> ...




what's usd/try?? *worked it out*. who the hell offers that pair???

some type of hedge/pairs trading going on???

interesting long swissy and short looney

NS looks like a new trend up taking shape on the 1H usd/cad.... also a double bottom on swissy....4H and daily. 

time will tell not trying to spook u in anyway 

cheers


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## Naked shorts (8 August 2009)

>Apocalypto< said:


> what's usd/try?? *worked it out*. who the hell offers that pair???
> 
> some type of hedge/pairs trading going on???
> 
> ...




I trade the Turkish lyria through GoMarkets.
Loonie trade is basically a bet on oil going up.

Cheers for the graph, to me right now all thats saying is there will be a few people putting stops down there, which means it will drop further when it does get there.


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## Mr J (8 August 2009)

>Apocalypto< said:


> The $/JPY is a top pair I have been on it last few days, the spreads tend to be tighter then cable...




Maybe, but the usd/jpy tends to trade in smaller ranges.


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## >Apocalypto< (8 August 2009)

Mr J said:


> Maybe, but the usd/jpy tends to trade in smaller ranges.




Normally I never trade ranges Mr J, only clear low bar range trends.

Had a three great days on $/J but that may change next week


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## Mr J (10 August 2009)

I mean ranges in terms of pips. There are less pips in the yen, so the spread is more significant, and from observation the yen seems to move in an even smaller range, so a 10 pip move on the usd-yen may be the equivalent of a 20 pip move on the euro.


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## rasta (11 August 2009)

Anyone here trade the 1-second (tick) chart .. lol


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## Mr J (12 August 2009)

If the yen usually operates at a half a pip spread and the euro a full pip, I take back what I said about the yen moving in smaller ranges.


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## caribean (12 August 2009)

rasta said:


> Anyone here trade the 1-second (tick) chart .. lol




1 second, is not a tick chart


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