Getting started in Forex

[julius]

nizar i'll be very interested to see the results of your scalping system net of transaction costs. please elaborate.

systems with low expectancy generally have smoother equity curves...ie lower risk... hugely important when trading leveraged instruments.

 

[Stormin_Norman]

So let me get this straight Nizar.

You are looking at setting up a scalping system, which will generally have a low expectancy (due to the nature of scalping), and yet it is still ok for you to have a go at discretionary traders who use a similar method?

i didnt read it like that.

 

[nizar]

Have you had experience with this Niz?

Wayne.
Im working on something right now, the system has been coded, we just need to find historical tick data that goes back at least a year that doesn't cost an arm and a leg.

Prawn86.
Im not having a go at anybody.

Julius.
I might be setting up a thread on it, but if I don't, PM me your email address and I will send the results your way in due course.

I agree smooth equity curves is a big plus of high frequency trading systems.

 

[julius]

nizar I'm looking foward to it.

I guess I'm skeptical because I spent a while researching scalping systems last year, trawled through academic journals, found heaps & developed a few myself that killed the market gross profit, but once transaction costs were considered weren't generating a significant return.

Overcoming the spread, imo, is by far the most difficult obstacle to overcome.

 

[Trembling Hand]

Overcoming the spread, imo, is by far the most difficult obstacle to overcome.

That's where you need the finesse of a trader executing the trades. :

 

[Stormin_Norman]

Wayne.
Im working on something right now, the system has been coded,

what platform and coding language are you using?

 

[nizar]

what platform and coding language are you using?

OpenQuant is the platform.

As to the language I havent got a clue, as i got a professional to do the coding for me.

 

[angel]

Hi forex lovers,

I know forex market is open 24/7.

But when is the official opening time (I guess it's more important than closing time) for each market. I would like to follow US/Canada, UK, Europe, Tokyo markets.

and how about Stock Exchange market times? are they the same?

I'm in Sydney.

thanks all
ak

 

[tayser]

8am in each local timezone except Tokyo which is 9am (8am Hong Kong/Singapore time).

AEST:

Auckland 6am
Sydney 8am
Tokyo / Hong Kong / Singapore 10am
Paris / Frankfurt 4pm
London 5pm
New York 10pm

AEDT:

Auckland 6am
Sydney 8am
Tokyo / Hong Kong / Singapore 11am
Paris / Frankfurt 6pm
London 7pm
New York Midnight.

When in AEDT NY Close overlaps Sydney open by an hour, in AEST NY Close is one hour before Sydney open.

Most liquid time in the market: from Paris open til London close (depending on northern hemisphere DST, you get the last hour or two of Asian trade, all of the European trade and the first half of North American trade).
Most illiquid time in the market: in AEDT from NY Close to Sydney open (1 hour - Auckland is the only place with banks officially open during this period).

 

[tayser]

Sorry, the above are FX opens, no idea bout exchanges - I don't pay much attention to them

 

[angel]

Thanks for a quick response, tayser. it will be a good reference for everyone here.

I assume AEDT is Daily light saving time, so now we are in AEST, right?

are each market open for 8-10 hours? if you don't mind, when London and Paris are closed exactly?

am I correct if our dollar mostly traded after 10am (when Tokyo opened) as AUD is pretty much depends on carry trade?

thanks again
ak

Most liquid time in the market: from Paris open til London close (depending on northern hemisphere DST, you get the last hour or two of Asian trade, all of the European trade and the first half of North American trade).

Most illiquid time in the market: in AEDT from NY Close to Sydney open (1 hour - Auckland is the only place with banks officially open during this period).

 

[nizar]

Hi,

Im looking for historical tick data for some forex pairs for testing and system design purposes.

I've tried e-signal, does anybody here have experience (and feedback) on other data providers?

Has anybody tried these guys?
http://www.forextickdata.com/

Thanks.
Nizar.

 

[Largesse]

i've noticed some people have been able to set up their ninjatrader software such that it automatically has vertical lines with a label stating what event is occuring.

How is this done? the 'help' file isn't providing much help.

Ideally i want to be able to see on my chart when events such as FX market open's and close's occur.
I also noticed on a chart that someone posted on a seperate thread they had a line for when news was released. if anyone knows how this is set up i'd be very appreciative

 

[Page]

Before you can get started with Forex trading, there are so many questions to answer. Should I use a demo account? How do I choose a broker? What do I need to know before making my first trade?
Here is your answer in short-
1. Choose a broker
2. Open a Demo Account
3. Learn About Leverage
4. Practice Reading Charts
5. Making the first live trade