Merlin you are correct as usual. But my suggestion was made simply as a way to get around Refco/FXCM policy of no straddle entry orders allowed prior to major economic releases. As I stated, what you describe is what I have done on CMC and CMS with ...

FXCM and "no-slippage"

I believe you are mistaken. If you have an open position in the market, your stop order is a STOP LOSS regardless of whether the amount equals your open position or not. If you set it to double your current position, the stop order performs like a ...

FXCM and "no-slippage"

Much Ado About Nothing? — I believe those complaining about this policy have not bothered to THINK about what they are trying to accomplish. Let me preface by stating that I do not trade with either Refco or FXCM. My brokers (CMC and CMS) have ...

FXCM and "no-slippage"

I am afraid I don't understand the explanation of this strategy. If your "day" starts at 5 pm ET, then by definition the first bid/ask that trades at 5 pm constitutes the high/low of the day. Every move after that will make either a new high or a ...

AMAZING Strategy!!!

What happens when everyone buys at the same time? Prices are forced higher. What happens when everyone wants to sell at the same time? Prices are forced lower. Isn't this what is called "Momentum Trading?"

What would be the outcome if this happened?

One striking occurrence that I have personally observed on at least two different broker's price quotes, about 2-3 minutes prior to a major announcement, their prices oscillate back and forth between two quotes that are 10-14 pips apart Example, ...

Broker's Feed Manipulation???

Paul, Regarding your above post (which I have taken the liberty of copying to this thread as it seems more appropriate here), can you explain how you arrive at a theoretical win probablity of 50%? Is it as simple as saying that for each position you ...

Risk Management

As Posted by Paul Y. Shimada — here are a few points worth considering. 1. Many traders have extraordinary luck with demo accounts, partly due to their lack of fear when real money is not involved. I also did extraordinarily well with my demo ...

Risk Management

To Slick Bill — Bill, The easy way to avoid the frustrations you have been experiencing is to use only limit and stop orders for entries, and avoid using market orders.

Broker's Feed Manipulation???

So, if FX Solutions is quoting 1.2500/03 and REFCO is quoting 1.2503/06, does this mean REFCO thinks the trend is going up, while FX Solutions thinks the trend is going down, or vice versa? I still do not understand how this slight difference ...

Broker's Feed Manipulation???

Does It Matter? — I had noticed the same thing, comparing CMC, CMS and Gain Capital. At any one time their prices might be 1-2 pips different. But, does it really matter? For instance, say FX Solutions is quoting 1.2500/03, and Refco is ...

Broker's Feed Manipulation???

If you change the time frame you are looking at to make the ATR correspond with the %risk you deem prudent, don't you also have to change your entry and exit strategy to the new time frame as well? Doesn't that necessarily mean that your profit ...

27/23 System for USD/CHF --$10,000 to $1,100,000 in 2 years?

In case you are wondering about the meaning of the "171322182723" method, those are the 2 numbers for the various pairs that you add and subtract from the closing price to set the buy and sell entry orders. 17/13 is EUR/USD, 22/18 is GBP/USD, and ...

27/23 System for USD/CHF --$10,000 to $1,100,000 in 2 years?

Merlin, your reading comprehension skills remain intact. You set a 50 pip stop loss for each trade, and your target is 50 pips per week. I posted this system because the trader on moneytec who has been using it since January 2003 stated that he has ...

27/23 System for USD/CHF --$10,000 to $1,100,000 in 2 years?

Digetman et al. I apologize if my attempt to summarize my understanding of this system was unclear. There is no 50 pip limit. There is a 50 pip stop loss. You are supposed to monitor your entry periodically during the period of 8am -12noon Eastern ...

27/23 System for USD/CHF --$10,000 to $1,100,000 in 2 years?

Paul, thank you for your words of wisdom. Your advice that one should not risk more than 5% in the market at one time is good and it is advice that I have seen repeated by many respected sources. However I do not understand how you calculate the ...

27/23 System for USD/CHF --$10,000 to $1,100,000 in 2 years?

That is all fine and well if you are a fulltime professional daytrader who can watch the display monitor all day long. The point of this type of system is to enable those of us who have to work at other jobs to "set and forget" to a greater or ...

27/23 System for USD/CHF --$10,000 to $1,100,000 in 2 years?

The system uses the close of the candlestick at 8 am ET. Historically, the 7am-8am candlestick has very small movement-- 8am-9am is more volatile and thus you would want to have your entry order in place prior to the start of this time frame.

27/23 System for USD/CHF --$10,000 to $1,100,000 in 2 years?

There are many brokers who do not have any such restrictions. At both CMC and CMS-Forex, for example, you can trade any amount you want: 1 lot, 0.1 lot, 1.25346 lots, etc.

27/23 System for USD/CHF --$10,000 to $1,100,000 in 2 years?