Scalping FX with Cyrox Rainbow

[tayser]

Still got the account yeah, no difference between demo and live (the live platform just runs on more reliable hardware).

I'm more interested in ADM Derivatives at the moment (only got a demo account with them) - it's Currenex Lite, requires $2500AUD to open and can be denominated in AUD. Heaps of info on it on the cyrox.com forum.

 

[MS+Tradesim]

Thanks.

I discovered hotspot use a platform made by CTN Systems. I downloaded their demo and the feed they use is from all the client brokers. Their spread seems quite realistic. I'm seeing more like 3-4 pips on AUDJPY with as low as 1. They're not actually brokers but they supply the platform so if I go with hotspot this seems a more realistic way to demo.

And the other pair which interests me, EURUSD, seems to consistently have spreads between 0.1-2 pips, which seems very tight to my limited experience.

So I've been playing the same strat on the CTN demo and it's still working. Just have to pick the trades more carefully due to the bigger spread. Have still made about 70 odd pips this morning. I've got charts so I'll put them up later.

Yeh, I saw that ADM thread on Cyrox. Might have a look at them, though I have heard a lot of negative stuff about currenex. On the flip side if Linuxtroll (???) is using them, I would hope they're on the up and up.

My hassle with opening an account with a US broker is they all seem to want a valid passport and mine is expired.

 

[MS+Tradesim]

These are this morning's trades between about 8:50-9:25am. On the 5m chart there is a downtrend which I'm keeping in mind and with the probability of RBA cut this arvo the bias to me seems down.



Trades 1 and 2 were simple trend continuations. I probably could have held 2 longer but at the time the spread was widening downwards so I jumped out.



The setup here was a move away from the longer term trend line. Trade 3 was an aggressive entry looking for the fall that I caught in trade 4. In 3 I jumped out quickly and waited for another chance which came together in 4.


EDIT: linked pics aren't showing for some reason. I'll trim them down so I can attach them here.

 

[MS+Tradesim]

Pics...green arrow is a buy, orange is a sell.

 

[MS+Tradesim]

Lol. I learnt some hard lessons trying to trade the rate announcement on AUDJPY.

Lesson #1 (Which I should have kept true to knowing it from shares) Prediction will blow out my account. Don't try to be right. Follow the trend, don't try to pre-empt it.

 

[nomore4s]

Lol. I learnt some hard lessons trying to trade the rate announcement on AUDJPY.

1st day live forex trading today, but only trading minis on IG atm.

Got caught on the spike down of the AUD/USD (lost 75 pips), but managed to trade it back up for a +148 pip trade to be up 73 pips overall, pretty lucky.

Up a fair bit today now, might call it quits.

PS - Great thread have learnt heaps, thanks guys

 

[MS+Tradesim]

All told I finished up +222 pips over 24 trades (less comm.) for the day. I had a disastrous moment just after the rate ann. where I went short AUDJPY and it rose rapidly and I lost 121 points. I only had a mental stop and paniced and accidentally shorted a second lot. I then bought back both instantly. I was so surprised by the upwards move - had been expecting the spike down to continue after a 1% cut. I refocused, concentrated on ignoring what I thought "it should do" and just traded what was in front of me for the next hour or so and gained 266 pips.

I was trading on the CTN demo which has real spreads and was consistently hit with 5pips on AUDJPY.

Stats for today:

AW 0.289214286
PW 0.636363636
AL -0.2289375
PL 0.363636364
R:R 0.100794545 (10:1) includes my -121pip loss.

If I ignore the single large loss, they become:

AW 0.289214286
PW 0.666666667
AL -0.088071429
PL 0.333333333
R:R 0.163452857 (16.3:1)


Stats for yesterday:

AW 0.070117647
PW 0.80952381
AL -0.02
PL 0.19047619
R:R 0.052952381 (5.3:1)


Overall so far for 43 round trips including the -121 pip trade (I realise the stats don't really become significant until there is a very large sample size but I'm forward testing here so this is as I go):

AW 0.179665966
PW 0.722943723
AL -0.12446875
PL 0.277056277
R:R 0.095403534 (9.5:1)

I'm now going to consistently use an initial + trailing disaster stop. I had been doing that but stopped using it over the rate ann. as I thought stops might be hunted out. In retrospect a hunted stop would probably have been less damaging.

 

[MS+Tradesim]

Results in chart form. Cumulative pips x100. Pips per trade x100. -121 pip trade included in all its ugly truth.

 

[tayser]

 

[MS+Tradesim]

Got 4hrs sleep last no night so no trading today...would be mistake city.

 

[MS+Tradesim]

I've been thinking about a comment I made above because I didn't really believe it at the time and now I'm going to say that I don't believe it and it makes no sense...."hunting stops". If the big guys are wanting the market to move a particular direction or expecting it to, why would they bother flushing out stops? That would mean they are intentionally pushing the market against their intended trade in order to achieve what....?

Either your stop is intentionally placed correctly according to your rules or it was not. If it was, then you have been validly stopped out. If it wasn't, then place it correctly next time.

If a market is manipulated then that is already recorded in the past moves and your current method should already have accounted for that as a matter of fact. The data should already have informed your method construction even if you didn't know that it was "manipulation" - assuming it occurs.

And if for some reason, stops are hunted....so what? If the market moves against you, stops you out, then turns and heads back you jump back in when you get a new entry signal. But wait, now you have a new entry and a new stop and what if someone decides to hunt that new stop?

Blaah...it makes no sense. To repeat myself, either my stop is placed correctly or it is not. Both outcomes are my responsibility. Once that trade is closed, assess the correctness of the stop, adjust or not as needed for next time, then move on to the next trade.

My -121 pip loss is my result based on my decision to not use my stop.

I'm not sure if I'm saying all this very clearly, but I've had crap-all sleep. It makes sense to me anyway and this is just thinking out loud.

 

[tayser]

Last night/yesterday:

I wish I had a larger account

 

[roland]

hey tayser, with live trading how do you get your feed from NinjaTrader since you would only have 1 x live account?

I have an account with MBT now (waiting to be funded) so still in demo mode with running 2 x demo accounts, 1 for the Ninja chart and 1 for the MBT Navigator.

When going live would I still need to use 1 of the demos for Ninja with the live account for MBT?

 

[tayser]

Use the Gain feed in Ninja - dont use the MBT feed, I've found that the Gain feed is a heck of a lot smoother.

 

[MS+Tradesim]

AUDJPY was giving really bizarre spreads today (probably error on demo server) so focused on EURJPY with spreads of 1-2 pips. Netted about 66.9 pips before eyes started crossing. One lesson learnt today: saw a position go strongly against me and tried to close it but didn't realise stop loss had already been hit, resulting in new position being opened. Have to watch that.

Stats for today:

AW 0.12
PW 0.727272727
AL 0.075
PL 0.272727273
R:R 0.066818182 (6.7:1)

Running stats for 60 trades thus far:

AW 0.159777311
PW 0.724386725
AL 0.107979167
PL 0.275613275
R:R 0.085980071 (8.6:1)

 

[andy87]

hi all,
this message keeps popping up when im truying to connect to the Gain feed. Can someone suggest what it means and how to fix it

 

[tayser]

looks like the error you get when your ISP is down lol

Try removing the connection from Account Connections and re-add it.

anyhow, pre-London:

PS. I love daylight savings

 

[MS+Tradesim]

Netted about 125 pips this morning.

Stats for today:

AW 0.092117647
PW 0.85
AL 0.06267
PL 0.15
R:R 0.0688995 (6.9:1)


Running stats for total 74 trades:

AW 0.142862395
PW 0.755790043
AL 0.096651875
PL 0.244209957
R:R 0.084370625 (8.4:1)

 

[tayser]

Sorry, n00b question: What's all the AW, AL, PW etc mean?

ta.

 

[tayser]

*headslap* just figured it out