shortbleu

Anyone can help please?

I've seen their videos on youtube and their website, their software looks great and I am considering investing. Before it decide to invest in their software which costs upto $5,000, I need to know a bit more about this company. http://ofav5.com http://www.orderflowanalytics.com/ There are a few things that worry me about the company. I am not saying they are bad, or that they are a scam, I am just looking for information about who they are, so that I know if it is worth investing or if they will run away with my hard earned money. As such I would appreciate comments from other forumers, especially those who have been around prior 2009 to ensure they are genuine forumers and not vendors. I contacted them, and here is the information I got: - They are a virtual company (I was told they are incorporated in the state of Delaware), - They don't have a physical business address, - They do not provide a phone number and instead they propose to call you, ie you can't trace where they are located from their phone number, - They don't provide a free trial of their software, instead they would show you a video in live of the live market to see how the software works, so that you can verify from your home with your own personnal trading platform that the prices they are showing on screen are genuine. However, I would prefer a free trial and install the software temporarily on my own machine to avoid any sort of manipulation if such a thing is possible. - They ask for an upfront payment of upto $5,000 to buy their software (it's not a lease), whereas most of their competitors would lease you a software on a monthly basis for say $ 50 to $200 a month. If you're not happy with OFA's software after a month or so, you lose $5,000, not just a couple of hundreds $$... What happens if they shut the door, or take the money and I never hear of them again... They don't have a physical address so I can't knock on their door and make a claim... - From what I read on other forums, like trade2win and traderslaboratory, the other forumers were commenting on the software from what they had seen on the youtube videos or the videos of the website. None of the forumers had actually paid for the software and used it. Once again, the software looks excellent on the videos, but what about the company selling them. I do not believe they have a company registration number and I do not think they are registered with a recognised professional body. Again, I am not saying they are bad, I just find very bizarre they are not even trying to show their potential customers they are a solid and reputable company. I did not have any problems to get the physical addresses, company registration numbers of their competitors, but for Orderflowanalytics / Preveda, nothing. OFA's software seems better than their competitors', but maybe it is too good to be true... You tell me...

Hi, 1) As a UK resident can I open a stock account in GBP and the deposit will remain in GBP even if I trade in foreign currencies stock? i.e, there is no currency risk on the deposit, there is currency risk on the P&L denominated in foreign currency? 2) I need GBP 6,250 minimum (equivalent of USD 10,000) to open the account? 3) What happen if the account falls below GBP 6,250 due to a loss or withdrawal? 4) The only cost to run the account will be commission to open/close positions and monthly fee of USD 10 or are there any other costs? (NB: I only need to see a live price on the ask price and the bid price and their related volumes to trade. I don’t need any depth level 2 or graphs, so costs should be kept to a minimum). 5) Example: The account is opened with GBP 6,250, the yearly cost to buy 1100 european stocks(from Belgium, france or Italy) on 1 April 2010 at EUR 5 each and selling them back at the same price of EUR 5 on 31 March 2011 would be as follow: 1100*eur 5 *0.1% to buy the stocks + 1100*eur 5 *0.1% to sell the stocks + 12* USD 10? Are there any other costs? Will the account show the following: Deposit balance GBP +6,250 Commission : EUR -11 (1100*eur 5 *0.1%+1100*eur 5 *0.1%) Monthly fees: USD -120 Profit/loss = EUR zero Or do they convert the commission and monthly fees in GBP, or just the EUR commission in USD and the monthly fees stay in USD? Many thanks

Can you help please?

Hi all, I am looking for a discount stock broker (to trade stocks, not CFDs or spreadbetting) with the following criteria: 1) The account can be opened by a UK resident. 2) The account can be funded in British pound (GBP) and only the profit/losses would be exposed to the risk of currency. 3) No inactivity or monthly fees charged (eg. Interactive Brokers charge inactivity/monthly fees and would not suit me). 4) The account can be opened with an amount as low as GBP 6,000. 5) I will do less than 6 trades per year and I am looking to pay commission fee per side of USD 8 maximum or GBP 5 maximum (eg. Selftrade, E-Trade, Barclays stockbroker are too expensive) I made some research and I found the following stock brokers: Zecco, Just2trade, but I don't know if they allow UK residents to open an account and if the account can be founded in GBP. Does anyone know if they suit such criteria? Any suggestions of brokers following ALL of the above criteria are welcomed. Many thanks

Hi DugDug, I made some research re contango and backwardation, and you are right, ETFs, ETCs and other derivatives products tracking crude oil are also exposed to the risk of contango. I came to conclusion, I am better of investing in oil company shares whose performance is correlated to price of crude oil. Cheers

Hi, I am a long term investor holding long positions for months to years. In February 2009, I bought a future CME MINY Crude Oil at around USD 45.5. Since February 2009, I rolled my future position several times (selling back the maturing contract and buying the next monthly / quarterly maturity) in order for me to keep my long position over the long term. Today's price is around USD 77.8 and in theory that would give a P&L of about USD500(77.8-45.5) = USD 16,150. In reality, my P&L is only around USD 11,200. Most of the difference between 16,150 and 11,200 is due to the fact I had to roll contracts from one maturity to another, i.e selling back the contract arriving at maturity at a cheaper price than the new contract I was buying. That is because the farer the maturity, the more expensive is the contract and therefore each time I roll, I am "losing" money or more precisely, I am making less money than I should have made, because the price is jumping up for each new maturity. How can a long term investor keep a long positon in WTI Crude Oil without the disadvantage of losing money each time he is rolling contracts? I decided to trade WTI Crude Oil using CME MINY futures because futures are a liquid instrument, there is a clearing house, the futures spreads are low and the commissions are low. However the cost or rolling the positions over the long term is ridiculously high! Is there a more efficient way to invest long term? Spead betting is out of question because spread betting companies charge an overnight interest rate each time you carry a long postion overnight and in the long term the cost can be very high. Trackers / ETFs are issued by banks and there is no clearing house, therefore if the bank goes bust, I lose all my money. So how should I invest, what investment vehicle should I use? Thank you.

I had checked OEC, they are more expensive for all 3 contracts FDAX / FESX / ES

I 've looked around for a low commission broker for FDAX / FESX / ES. Mirus Futures seeem to have the lower commissions I found for a RT volume between 0-500: FDAX: eur 2.63 RT FESX: eur 2.25 RT ES: usd 4.40 RT Looks a lot better than IB who charges eur 4 RT for FDAX / FESX. Has anyone found lower commission for a small volume?

Hello Blowfish, I love the Dax and traded it successfully in the mornings a few times while I was on holidays but I am back to work now with a full time job and can only trade the Dax in the mornings while on holidays. I am back from work and at home any time between 7.00pm and 8.00pm London time and this leaves me just 1 or two hours to trade the dax in the vening which is not great because 1) volatility is low between 7pm and 9pm london time, 2) if I have only one hour to trade before the exchange closes, I might be tempted to overtrade, jump on anything and this is not good for the P&L. I would be looking for something I can trade for 3-4 hours in row, potentially. Question, it's 1.50am london time here and I have trading platform opened. The emini ES is liquid liquid right now with volume of 6600 already but the Nasdaq100 full size is not liquid at all, there is a bid and an offer of 1 lot on the bid and 1 lot on the offer, spread is 1365.75 1367.50, very large!!! Why is that? Looks untradable and volume is zero!:crap:

I fully agree that commission is only a factor amongst others. Could you tell me what is the liquidity like on the Nasdaq 100 future at usd100/pt? Is that easy to get in and out? I like the Dax and look for a similar equity index future with high volatility, big average true range and low commission. NQ100 looks good.

Please help:helloooo:

what do you think about big nasdaq? 1400pts * 100 usd= 140000usd 4.8usd commission ratio = 140000 / 4.8 = 29166 Looks OK?

Hi all, Rigel, I traded the DAX a few times in the mornings, and always succesfully. From 8.00am London time onwards as you're right when you say it's very calm between 7.00 and 8.00. I do not do simulations, real only. I enter positions on limit order so no slippage or very small. I cut losses short on market order so slippage can be bigger, I loose the spread when I exit losing positions, and this varies between 0.5pt and 1.5pt. My winners can be big, over 20pts. I let profits run and cut losses short. Question for your guys. I can't always trade the dax in the morning as I am in the UK and work full time. I am not sure yet if it's worth or not to trade the DAX after work, between 7.00pm and 9.00pm London time, but I am really not sure as volatility is low at that time, so I am really disgusted :crap:. Any idea of a future market to trade between 7.00pm and 11.30pm london time. Eminis do not have a great nominal sir commission ration compared to dax. Eg for emini S&P: nominal = 900pts * 50 usd= 45000 usd commission RT = 4.8usd ratio = 45000 /4.8 = 9375. Eg for DAX: 5000pts * 25 eur = 125000 eur commission RT = 3.5eur ratio = 125000/3.5 = 35714, great ratio. I am looking to trade something with a ratio superior to 20000, so eminis would not do the trick. Also, nominal needs to be inferior or equal to 140K eur or equivalent because my capital does not allow me to trader bigger size (money management). So what can I trade between 7.00 and 11.30pm london time with ratio > 20000 and nominal <= 140k eur or equivalent currency? I might create a new post to answer this question but wanted to have your advice first? Thanks

Thanks Tams. I've been looking at the DJ Eurostoxx 50 but believe it's not for me. It needs too much focus on the depth of market and the return / commission ratio does not look great as I am paying commish at retail price. But thanks for the suggestion, it was worth to have a look. I've been trading the DAX in the morning and did well. Only problem is that I'll have to go back to work now and will not be able to trade in the mornings anymore. I can only trade from 7-7.30pm onwards London time and at that time the Dax is pretty dead until it closes at 9.00pm London time. Any idea of an Equity Index Future that is tradable between 7.30pm and say 11.00pm London time? Will continue to trade Dax in the morning but only when I can, perhaps once a month or so as I've got a full time job :crap:

Thanks Monad, great info. Can you please let me know where I could find a useful and complete economic calendar? Thanks v. much Shortbleu

Does anyone know what happened today at 13.30GMT? The Dax dropped by almost 20 points in a few seconds. I did not have any news on my economic agenda, but fortunately was not in position.

Hi uexkuell, Your answers are very useful. I was talking about 5 points (10 ticks) in a slow market when nothing happens, I find it still better that doing tick by tick on BOBL. If the marker moves well, and if can surfe the wave, the game would be to take upto 100 ticks. I will definitely look into FESX. I had a look on the Eurex website and it quotes in full points (no half point) worth 10eur / point, so one tick = 1 point. So I am wondering if the trading range would be big enough for my trading style? At least, since the nominal of this instrument is smaller than FDAX or CAC40 there is less money to loose, which can be good for a beginner in the learning period and my pockets are not full of money to throw away (only have 30,000 eur to play with). I've just read a post on FESX saying it moves a bit like the BUND these days and I know the bund does not suit me because it's more for trading range scalpers and does not move much. is this affirmation accurate, what do you think? What about the margin / leverage question? Many thanks

Thanks, I'll do some research on the Eurostoxx50 also then? What about the other questions?:helloooo:

also, what about my profit / commission reasonning, does it make any sense?

Thanks Monad for the quick reply. I am aware of the volume on the DOM, it's rarely over 25 lots per price at one time but this is really not an issue for me as I am trading with only 1 lot. I am in the learning process and do not expect to ever trade lots of cars by clip. If I am doing well with 1 lot, then I will increase the size progressively. I think one can earn good money (over 1,000 eur a day on average) trading around 5 lots per clip. My daily average target would be to make 0.2% a day with a DAX at 4700 pts, therefore 4700*.002= 9.5 points clean after commission = 237 eur per day per contract on average. Do you think this is achievable? What about the margin question I asked above, any advice on this please? Many thanks

Hi all, This is my first post on this website, I read a few threads here and I really like Traders Laboratory Forums. Just to introduce myself: I am not new to Equity Index Futures trading (FCE CAC40) that I've been trading as a long term investor, holding positions from a few months to over a year and rolling the contracts every month when they expire. I am quite new to day trading however, I worked for a prop firm 5 years ago for just about 3 months and I left because I was "forced" to scalp financial futures like bobl, bund, and eurodollar on a tick by tick basis (very short term scalping) and I hated it. Just to put it right, I am not and will never be a short term scalper looking for a tick target beccause 1) I don't have the skills and aptitude to do this, and 2) I don't have any interest in this kind of extremely short term day trading. Basicly, I can't trade financial futures in a trading range as it does not fit my personnality. I am a trend follower and I like equity index futures because they are less likely to trade in a range, they are more volatile and large moves can easily allow a single trade to capture between 5 points (10 ticks) and 50 points (100 ticks). I am very new to equity index futures day trading, I started 3 days ago on the future dax with only 1 lot at a time and I have a few questions for you. 1) Am I trading the correct equity index future (Dax) or should I trade the CAC40? Although I have a better knowledge of the CAC 40 than the DAX, I thought the Dax would be better for me because his movements are a bit larger than the CAC40, eg. when the CAC40 takes 5 points, the dax might take 6 points, so i thought the larger moves would suit well my approach. Also, I thought about the ratio commission / profit which is I believe better for the Dax as the Dax has a larger nominal. My reasoning is has follow: If it costs me EUR 4 round turn and I make 5 points on CAC40, the ratio commission / profit will be: 4/(5*10)= 0.08 Comparing with Dax, if I make say 5 points on Dax (could be 6 points), the ratio will be 4/(5*25)=0.032. Therefore my conclusion is the Dax is lot more cost efficient because the nominal is a lot larger: 4700pts *25eur = 117500 eur for dax against 3200pts*10eur = 32000eur. I'd like to know if other people have the same reasoning and if you look at profit / commission ratio in the same way? Can you please confirm the Dax will suit my trading style better than the CAC40? 2) what margin should I use to day trade the DAX? The value of the Dax at the moment is 120,000eur more or less. At the moment, I use a capital of 30,000eur for one lot (leverage 4). Do you think this is conservative enough or too risky? From your experience, is it likely to blow out the capital in a few weeks / months with this sort of leverage? I was thinking the capital to trade 1 lot should be anywhere betwen 24,000 eur and 60,000 eur (somewhere between leverage 2 and 5). I can't imagine myself using a leverage 5 as I really want to preserve the capital. Can you tell me your thoughts, what sort of leverage are being used by profitable trend following day traders who have been successful over at least 2/3 years without blowing their capital? I read other threads and read that other day traders were complaning about brokers asking 5,000 eur for intraday margin and they were turning to brokers asking 2,000 eur intraday margin or less for DAX. From my perspective, this is madness as I believe there is a potential to lose 80 points (2,000 eur) in a few seconds on a single trade if the market goes mad on news and a gap / mini krack can happen and people who use 2,000 eur or so would blow out their capital straight away. Am I just wrong or is there something I don't understand? I am asking because I've read threads on other forums where people ask for very low margin and high leverage. I just don't get it. Many thanks for your advices.