Forex, anyone? January 25, 2016 04:09PM |
Registered: 9 years ago Posts: 78 |
Re: Forex, anyone? January 25, 2016 07:22PM |
Registered: 8 years ago Posts: 161 |
Busted. Too funny. linter, My only annoyance w/TOS on forex is quotes often seem delayed a minute or more. This really messes with algos because it paints the bars differently from really timely charts. The effect is not so bad for longer timeframes of H1 and up but even H1 suffers some. FXCM is an outfit I avoid like the plague- my experience with them is their platform "conveniently" crashes during high volatility, i.e., just when you should be making money. I've had good experience with Oanda. I don't use MQL (MetaQuoteLanguage) but you can enable your platform for that. Also, while not exactly a "Cadillac" platform like TOS, Oanda is swift, clean, efficient for quotes, opening extra accounts, and loading and transferring funds between accounts. One downside of Oanda is you can't hedge in the same account (OCO, One trade Cancels the Other), so you need to create the extra account for hedging, which takes about 10 seconds.Quote
linter
-------------------------------------------------------
> And, yes, Baffled, I knew you'd show up, ha ha.
> In any event, forex is just beginning to interest
> me, and i'm trying to figure out how it works, so
> if anyone (B?) has any tips on reading material,
> I'd sure love some links...
declare lower; plot Data = close("/cl" ); plot data20 = average(data,20);
Re: Forex, anyone? January 26, 2016 12:19PM |
Registered: 9 years ago Posts: 78 |
Re: Forex, anyone? January 26, 2016 01:14PM |
Registered: 8 years ago Posts: 161 |
hiya, linter. Glad I could help a little. I trade forex because of the 5x24 trading hours, the instant settlement, a few other reasons. But not because the pairs trend better. Fact, it's often the wild west. I guess I like being able to analyze the data and the only gaps are at weekends sometimes. I think TDA is great for most other stuff- it's just the forex end I don't like. So I say use it for the good stuff and just run it in background for forex while you trade forex on another platform. To learn it, I think it's good to use a practice account some, but when ready to go live, start with no more than $20 and try to double it. Only reload if balance drops to $10 (and only allow yourself to reload once a month). That limits risk, etc, while you learn. And, if you looked at the compounding charts on the link, you can see that there's really no sense loading a lot of cash anyway because if you're good you'll get to big cash levels rather quickly. On Oanda, I preset my trades to be 70% of my available margin so it automatically keeps up with my account growth. A good target is to make 7% a day. An exceptional outcome (for me) is a 10% day.Quote
linter
> Hi, Baffled:
> Thanks much for all the great info. So, for
> forex, ToS is not good and Oanda is better?
> Argggg. ...
...Let me ask you this. Why do you trade forex as
> opposed to anything else? Do you find the pairs
> trend better?
Re: Forex, anyone? January 26, 2016 02:07PM |
Registered: 9 years ago Posts: 78 |
Re: Forex, anyone? January 26, 2016 05:21PM |
Registered: 8 years ago Posts: 161 |
Yes, that's how I do it. I trade H1 mostly. Longer TFs create drawdown problems for me, since I'm trading at 70% of margin. Shorter TFs require too much watching. Definitely please keep me posted on how you're doing. BTW, there are some little old school tricks I use too, like the probability of an engulf being only about 10% on most charts. I suggest beware trading things like cup-and-handle formations and other normal formations, as they often don't behave like they do in stocks. Sometimes on cup-and-handle the 60% retrace happens, sometimes not, and sometimes after a cup forms the chart will form an inverted cup.Quote
linter
> Thanks a bunch. Yes, your website is very helpful
> in explaining the basics, which is where i am now.
> Re: ToS -- so do you do the algos and all that on
> ToS but do the actual trading on Oanda? If so,
> that sounds like it's the best way to go, rather
> than delving into MS4...
> btw/ what time frame do you trade?
Re: Forex, anyone? January 26, 2016 06:00PM |
Registered: 8 years ago Posts: 161 |
Re: Forex, anyone? January 27, 2016 07:06AM |
Registered: 9 years ago Posts: 78 |
Re: Forex, anyone? February 06, 2016 04:51AM |
Registered: 8 years ago Posts: 161 |
#Settings are for EURUSD, but can be modified for any security. Default inputs are for H1; D1 try (not ideal but closer) 1.01618, 0.01618 input length1 = 1; input length2 = 1; #NEXT BELOW IS HALF OF 1618 (THE 809) input goldmean1 = 1.00809; #NEXT BELOW IS SIX TIMES 809 (THE 4854) input goldmean2 = 0.004854; input midmaxminorval = 2.007; input midmaxfloat = 6; def upperlim = ((high[1]+low[1]+close[1])/3)*goldmean1; def lowerlim = ((high[1]+low[1]+close[1])/3)-((high[1]+low[1]+close[1])/3)*goldmean2; def upperlimmax = average(upperlim,length1); def lowerlimmax = average(lowerlim,length2); plot midmax = (upperlimmax+lowerlimmax)/2; plot midmaxminor = (upperlimmax+lowerlimmax)/midmaxminorval; plot midmaxavg = average(midmax,9); plot midmaxminoravg = average(midmaxminor,9); plot mmfloat1 = average(midmax,midmaxfloat); plot mmfloat2 = average(midmaxminor,midmaxfloat); AddCloud(midmax,midmaxminor,color.plum,color.plum);
Re: Forex, anyone? February 07, 2016 09:10PM |
Registered: 9 years ago Posts: 78 |