It took me 40 years to get over my upbringing !
Me too!
40 years in the wilderness!
Iām sure @Magog will remember this guy. I donāt know why but his named popped into my head as I was looking at my Gold chart and thought I hadnāt seen him appear on the Youtube recommends list for a while. It seems he died April Foolās day 2016ā¦ quite sad, he was still fairly young and seemed a thoroughly decent chap.
Well ā¦ despite missing the 200-pip rise on UJ at the beginning of the year I am up 5% since December 1st. So that is half my tax bill I am still using my old trade sizes but I am also occasionally adding extra positions which effectively increases my bet size.
@StuFX I missed a peach on Friday ( IIRC ) at about 8:30 there was a massive surge in volume and a spike to the year-end close or something like that. TBH I am still cautious with 1m and tick volume, I have been so busy over the last couple of months that I havenāt had the time to sit and properly learn.
I spent too long drilling out the old bolts under the VFR so that I could fit a new hugger. Eventually I bought titanium-coated cobalt-steel drill bits and managed to make two 5mm holes, which I eventually tapped-out to M6. Having struggled with this one I can slightly forgive the monkey who fitted the previous one too close to the tyre so that I broke it when a new tyre went in. Spot the massive gap which I packed out with extra washers after I had obtained a suitable longer fixing bolt.
AND ā¦ I have mopped up the brake fluid after I (accidentally) popped a couple of pistons out of one of the front calipers (and bled the fluids etc), and have nearly finished rebuilding 3 other bikes. Annoyingly the runner which I bought to āimproveā has been much more trouble than the one which had been rear-ended and which only needed a few bent bits replacing. In fact it was so nice that my youngest has nicked it and so now we are trying to get his old SV650S into reasonable shape to sell that when the sun starts shining properly.
So I am trading slightly longer time frames ā¦ sometimes. I try to open positions which I can leave to mature when the carry is paying me. Actually they should be called āmistakesā because most of my trades are scalps and turn into carry trades when I misjudge things. So at the moment I am trading UJ long and EU short (with no positions open at the moment). I trade a bit like Jim, watch the chart, spot levels and trade those when they present themselves.
Speaking of Jim, he hasnāt been around much latelyā¦
Rinse repeat as they say. I gave someone a very pleasing 27% above the 2019 high water mark in January, I did go all out for the month as planning on taking some time out next couple of months but like I have said on many occasions the opportunities are there day in day out no matter what is happening in the world. The market always needs these levels to refuel regardless.
Caution is fine mate 1m and tick is just about familiarity and getting used to seeing the same things repeat.
Not sure which level you are referring to or pair (presume EU ?)
There was a level at about 0900 on Friday @ 1.09567 from Daily Open/Close of 8/9th October ?
The market opened and reacted to the lowest WEEKLY open/close of 2019 last night.
And with that great satisfaction no doubt ! Make do & mend.
Talking of which, did he make it here ? How is he getting on ?
EDIT: re @Leatherneck , yeah hope he is OK. My email bounced back mid December but I did get a PM here just after but not heard since.
Hey @StuFX brilliant returns I am sure they were pleased
As is sometimes the case on your EU example the prices on my platform (fxcm) havenāt even touched 1.09412 yet this week, in fact my weekly open and close of 2019 didnāt print your value of 1.09412.
Not sure if you said before but are you selecting your levels from a bid or ask price on your platform ?
I have shown my ask and bid for the lowest weekly in 2019 and my bid prices are several pips below yours and ask levels a fraction above yours.
For longer term trades this is not so relevant but for scalping it could make a difference as it would for triggering trades on automatic buy/sell.
Iām glad you put your chart up as itās given me something else to consider
Hi Rob,
C trader prints the bid but I recall at other thread we have had this before.
I still have an FXCM account but rarely use but like to hang on to it. It was always 1 or 2 pips away from other accounts, Dukascopy, FX PRO, ATOM 8, IC Markets.
When I traded it it didnāt matter. For example if A monthly close printed at 1.1001 and I had a line at that level waiting for a 1 min touch so long as the 1 min is in synch with that chart it didnāt matter. The same Monthly Close may have said 1.0999 on another broker but as long as I use the 1 min chart from the same broker it should not make any difference.
Throughout most of London IC markets has zero spread consistently on EU and it really does make a huge difference.
If you want to trade limits with cTrader you can also stipulate if bid or ask hits your price, can also say within so many pips too which does give a lot of flexibility to order options. I donāt use that feature personally but valuable for those that do.
I do recall that FXCM had a function in tradestation to discount Sunday data from charts.
With no central exchange there will always be minor broker differences as they aggregate from different liquidity providers.
What I would say is never use a price off one chart to trade it on another. Use the price that printed off the chart platform you intend to trade off.
There is option to show bid/ask spread lines but on EU they on top of one another or 0.1 pip most liquid times. Here is example of show bid/ask on Eur/Nzd 0.5 spread.
Not sure were FXCM is with that pair spread wise right now but I would guess itās not even close.
It matters in scalp land as itās your profit they are helping themselves to !
You are absolutely right. The different brokers have levels that move from their own chart pricing and yet the world market should be putting orders on at prices that should have no relevance to any broker if fundamental data is what drives the market place
Some of my daily/weekly/monthly support and resistance levels can trigger at the very pip the chart identifies. Strange that
The eur/usd is at about 4 pips currently but they have in the past offered me an account with about .5 pip spread on eur/usd.
I can chart bid and ask prices and I have seen occassionly the big money is stacked at the bid level and occassionaly at the ask level. There might be a correlation whether bid or ask is used depending on where the move is coming from (below or above the price).
I just havenāt figured out if there is any consistency in this notion to gain any advantage from it.
Donāt you just hate it @Exodus when you start a 5 minute job and it turns into a bit of a marathon.
I started a little job on this GS engine before christmas and now look at it
Nearly back together just delayed trying to find some parts but no rush.
With a 4 pip spread I think it makes a scalping strategy very challenging but I guestimate to have your level between the two. It is likely the bid is too low and ask is too high from their liquidity providers. Even then you would still need to decide which price (bid or ask) has to hit your level.
Sorry Stu Iām being stupid itās .4pips not 4 .
My school boy error a dec out.
Current pricing Ask 1.09515 Bid 1.09510
Hey yāall. Still kicking. Supposed to be semi retired and busier than ever. Economy great ā grandsons growing up and great fun watching our president outwit the marxist at every turn.
Hey Jimā¦talk of the devilā¦
Oanda program I use generally has 1.1 - 1.3 spread. Could get better but I like this option. Have had to reduce my risk and do some longer trades due to my schedule, but everything I do is closely related what I learned scalping ā still scalp when we in tight ranges.
Rule 1: be sure of the facts.
So ā¦ sorry because it was 08:02 on 6th Feb on EU
The level was 11013.5 ( IG Markets )
Yes he made it here. The plane he was on was going back to Shanghai, and return, once more, and then Virgin followed BA and suspended all flights to/from China.
They have also cancelled his flight back at the end of this month so I guess he will be around for a while longer.