[Marko23]

Originally Posted by thalestrader »

Hi Folks,

I just received an email from fxcm that micro spreads will be increasing on March 21 to the spreads used on the standard accounts. So for those of you who had been enjoying relatively fair pricing by using micor, it is time to look for a new bucket shop. MidK seems pleased with Interactivebrokers, though new traders learning to trade with very limited anounts of capital may be hamoered by IB's margin requirements.

If you have at least a few thousand in risk capital, it might be a good time to consider moving to futures - the 6E, which tracks the EURUSD, trades at 12.50/tick, and the 6B, which tracks the GBPUSD, trades at 6.25 tick.

Anyone else who would care to share suggestions should speak up here for the benefit of the others.

Best Wishes,

Thales

I trade with IB and am fine with them. For 6E I would have to change my working hours something I'm not very fond of.

[Marko23]

Hi folks,

just to let you know: I can't find a proper parameter set to trade EUR/USD with the ACD method.
It is profitable but Thales' method has a much better return. I gave up ACD after tinkering and backtesting for nearly three weeks.

Currently I train my eyes on the DOM; that demands my complete attention.
There is no time for TL during working hours. I'll read last week's postings over the weekend to keep in touch.

DOM is demanding for me with slow progress, an additional 3m chart helps a little.

Please continue with this superb thread.

[Marko23]

Here is a little gem, I discovered with the IB TWS charting program.

Under Configure Settings there is a check box named "Share trend lines among charts"
That is very useful for S/R trading.
With this switch turned on, every S or R zone marked with horizontal lines in a daily or 60m chart automagically appears on a15m or smaller chart, one uses during the day for trading.

You never overlook a support or resistance from another timescale with this simple feature.

[jonbig04]

Thought I'd share this potential trade, and reasoning behind it. Below is a large time frame chart. I'm hoping for a pullback tonight/tomorrow (hence the short in the next chart). After which I will try to get long around 1125.75. The red lines outlines what I'm looking for. In an ideal world, right? Haha.


Click for full size - Uploaded with plasq's Skitch

And the stop entry:


Click for full size - Uploaded with plasq's Skitch

One thing I don't like about this trade is the R/R. On the short it's only 4R. Mostly because this swing is a good deal larger than the ones I usually take, but I've been getting so few signals on ES lately I feel like I kinda have to take what I can get. Also, if the trade pans out I should be able to get a 6R or 7R trade in on the long at the bottom. If so my target will be trend continuance, and higher highs. If it happens, that is. A big if.

[thalestrader]

Hi Folks,

Here is what an early long on the 6J looks like (JPYUSD futures which trade inversely to the USDJPY).



Best Wishes,

Thales

[thalestrader]

Originally Posted by thalestrader »

Hi Folks,

Here is what an early long on the 6J looks like (JPYUSD futures which trade inversely to the USDJPY).

And this is how a short sequence looks on the USDJPY at the moment ...



Best Wishes,

Thales

[jonbig04]

Originally Posted by jonbig04 »

Thought I'd share this potential trade, and reasoning behind it. Below is a large time frame chart. I'm hoping for a pullback tonight/tomorrow (hence the short in the next chart). After which I will try to get long around 1125.75. The red lines outlines what I'm looking for. In an ideal world, right? Haha.


Click for full size - Uploaded with plasq's Skitch

And the stop entry:


Click for full size - Uploaded with plasq's Skitch

One thing I don't like about this trade is the R/R. On the short it's only 4R. Mostly because this swing is a good deal larger than the ones I usually take, but I've been getting so few signals on ES lately I feel like I kinda have to take what I can get. Also, if the trade pans out I should be able to get a 6R or 7R trade in on the long at the bottom. If so my target will be trend continuance, and higher highs. If it happens, that is. A big if.

Never triggered. To sleep I go.

[DugDug]

thales re your recent USDJPY, JPYUSD charts - how can you short one currency and at the same time be long it?...... that just does not make any sense!

(just kidding - reminds me of a fund manager who during a presentation said "we never short anything ever, and then proceeded to tell everyone about some of the long EUR trades they had done )