Trader1

I don't agree about that, me for one would like to have a good mobile app to being able to monitor my trades and do some trading the times Im away from my computer or on vacations, some of these apps can be really advanced, I seen one with all avalible indicators, you can draw trendlines and even algoarithmic trading, technical analysis no problem, I also think they are good to have as a backup if your normal trading line would be temporary broken, then you can still go in and nurce your trades. but sure, the best thing is ofcourse a desktop platform, but I wouldn't call these mobile apps useless.

I know what you mean but I think they are important, for example if you where to trade a brakeout, price push through resistance you go long before the close only to find out that price fall back below resistance and you are stopped out, whata bummer! I realise ofcourse what you mean and why they wouldn't matter at all, I agree with you in that matter since a normal bar or candle is only based on time, therefore it shouldn't matter, but now to my point, most of the traders do wait for the close, and because of that I think it's important, lets say that many traders are waiting for the bar to close above the resistance so they can go long, then the more power to it, I seen it over and over following price action, if price is not able to close above then price will most likely fall back, why? it's because most of the traders are waiting for the close, thats what makes it important, not the close it self, it shouldn't matter but it seems that it does:)

don't use them often, they are very hard to spot and they must have the prooper fib ratios to be consider valid, I found that the patterns I think is ok, but when I plot the fibs on them, they are moslty not valid and it turns out to be a waiste of my time, I think there is better more easy patterns to trade.

if every one would get a buy signal then who would they buy it from? because there would be no one willing to sell at any price:) the only way you can get a profit is if someone in the lack of better judgement would be willing to sell to you now and price would rise shortly after, that person will only do that if he or she thinks that price will continue fall, right? obviously that would be harder to make money if more traders are not willing to sell to you, the effect would be that price would not drop or rise as much as it could have done otherwice if the counterparts where all more or less without clue. if more people are selling and you want to buy, the more price will fall and the more money you will make when price finally reverse and go your way, thats the way we want it, so the fact that revealing a profitable system would make it less profitable, have something going for it. in a very liquid market such as Fx with over 3 billions traded each day, it can be discussed if it would have any effect at all, because the number of traders are allmost unlimited and the chance that a big percentage of the fx traders would use the same system is very small, unless it's something unbelievable exeptionally good, but with a trading system for stocks and other less liquid instruments, there might very well be an impact on the systems profitabillity if revealed to enough people.

also I don't agree about your stop loss placement, I guess it's individual depending on risk but I think a better place is below the red candle, thats where I would have placed it because that is support, your green candle isn't:) it's more likely you would be stopped out with a stop below the green candle, in my approach price must first breach a support area before reaching my stop loss. much more safe and a higher probability for a succsessful trade. just my thinking:)

is anyone using MBT UK and MT4? how is your experience?

All-in? are you serious? what if you are wrong? your intire acount would be wiped clean I think thats the dumbest post I ever read:crap::rofl:

Hi all, I been trading live Forex for about 3 years, before that I traded Options and stocks about 5 years, Forex has been a tricky instument to trade and still is, I believe it's the most hardest instument to trade both technically and mentally, I love trading, I have a really booring time during the weekends because I can't trade, I love every minute I can be involved in some trading. that is pretty much all I wanted to do, not a full time pro yet but Im working hard on it, Brokers I use or used is CMC, Dukascopy, FXCM, Divisa Capital and now Tradestation, I really looking forward to trade Forex with Tradestation, their platform is a dream to what I used before, so what more, Im a swedish guy, allways looking for new trading ideas, what more to say, Im not a quitter, Im going to succeed or die trying:) I love a schientists approach by trial and error, love to analyse stuff and what more, I love you guys:)

I can teach you some stuff, if you are interested Pm me

what traders do is trading in the direction of the gap, there is allso a saying that a gap allways closes and that seems to be right, but it can take a lot of time before it does, not neccesary on the same day, some gaps take months before closing. the market might also go up hundreds of pips before eventually turn back and close the gap, trading like that will produce a huge drawdown and a lot of stop outs.

one tip about candlesticks, they are only to be used on possible swing high and lows, if you see a candlesticks formation in the midle of a swing you should mostly discharge it, because they are all reversal patterns and reversals allways comes at either a swing high or low.

and what about leverage? shouldn't you also calculate that? and pip value? since all pairs have different pip value,

you can't sign up with Thinkorswim if you are not a US citizen, they won't allow it because of some new rules and regulations, one would expect that a poor economy as US would welcome cashflow from the outside, but strangely eough no. I wouldn't lie about my nationality, you might find that they close your acount in your face when they find out. there are plenty of other brokers to trade with, Thinkorswim are mainly a Options broker, so if you will not trade Options you might want to use another broker anyway.

most Forex brokers that are avalible to small traders are using their own market, meaning they create a market out of the real interbank market by tweaking the quotes a little in their favor, usually what they do is marking up the spread, if they are using the straight trough processing model, the dealing desk brokers might tweak the quotes even more in their favor, so much that it directly will put the client in disadvantage, ECN's are taking their quotes from the interbank, it then goes into a pool of clients together with the brokers liquidity providers, it's somewhat like a internal TCP network, this is most often if not allways other brokers who states as liquidity providers, ofcourse they would not sell anything unless it favors them so it can be discussed if this is a real true ECN model since the price comes from the liquidity providers, not the liquidity providers clients, note that the liquidity providers are brokers to and note that this is only FX, there is no way we as small clients can trade on the interbank Fx unless we have millions to trade with. the quotes that most recembles the real interbank quotes are from the ECN and STP and DMA model, they are the most stable and is very near the interbank quotes. there is also a new thing called DMA which is aprox the same as STP and ECN together, out of these the best in order is DMA, ECN, STP, dealing desk, there is outside sources line Kinetick, eSignal and others you can subscribe to on a monthly basis, they are the real thing but unless you can trade directly through the platform using these feeds they are not much of use to you. in that case they are just for comparison to other feeds, with most Forex brokers you are forced to use the brokers feed, especially STP brokers because they earn money from the spread so you would still pay the spread no matter what feed you are using. with equity and stock brokers you can use whatever data feed you want, this goes for stocks eft's options futures etc, these are traded on the real quotes, there are no markups or other tweaks made to the feed, they are traded on the exchanges around the world so the datafeed you would get from this kind of broker are very exact from the begining so an external datafeed would not be of interest unless the broker don't have a own feed, in that case you are forced to subscribe to an external feed. hope that helps:)

I think you must open an acount and fund it first, then you automaticly get a papermoney acount also, and you are able to switch between the two acounts from within the platform. I just opend an acount with Tradestation my self, even though im not up and trading yet, that is how I understand it. cheers:)

Chart patterns are very useful, double tops and bottoms, flags, heads and shoulders are my favorites

using stoploss is mandatory, you just can't trade without one, the stoploss are there to protect you and to set and limit your risk, if you trade without one your risk is limitless, never trade without stoploss.

every candlestick is based on ticks instead of time, one tick is one trade, usually you can set a tick chart at any number of ticks, the most popular is about 240 ticks which means every candle - if you use candles, it may be bars or even linecharts based on ticks, but then every candle would be 240 ticks, this is an advantage over time based charts because there is only one timeframe to look at, it kinda simplify tings a bit, and they are more exact to support and resistance lines, most brokers don't give you the luxury of tickcharts in their own kinda cheap platforms, this usually occurs only in professional trading platforms. I think Ninja trader has it but to trade live with it you must buy it. surely eSignal has it, also tradestation

the hardest thing is to find something that really work, something that wins more than it looses, something you can depend on, I think thats the main reason most traders jumping from one system to another, I know it because I do it my self, I need to find something that works and I need to see it work, then I will believe it and then I will never use anything else. I promise!

how would you trade that, I think I would go long because it looks like a reversal, whats the catch?

Tradeinterceptor is the best app for androids and free to use

Hi! first post, I traded live with both ECN's and Market makers for a few years, with ECN's you have privileges to more transparent trading but you pay a price in the form of commission, what people seem to not be aware of or fail to mention is that ECN's are much more expensive than MM's , atleast the ECN's I tried have been, of the Market makers there is both good and rotten apples, they are not all trading against you, look for STP brokers, they will only charge you the spread. I think better for small acounts, ECN's only for trading big lots. thats my experience