FX - Trading the Daily's
- Thread starter abhi_neth
- Start date
Hi LtT,
Trade Trigger is set for today... if it doesn't trigger will have a glance at the chart..and see if the order stays/deleted or need to change the Price...it will entirely depend on what the candle looks like with respect to the Upper BB...price for the order is based on the range it did in the last couple of days...!!!
SG
Trade Trigger is set for today... if it doesn't trigger will have a glance at the chart..and see if the order stays/deleted or need to change the Price...it will entirely depend on what the candle looks like with respect to the Upper BB...price for the order is based on the range it did in the last couple of days...!!!
SG
It is Buy within the Strategy only utilising the BB which I was waiting to outline when a live opportunity comes by....
Incidentally I have 5 charts for this exercise, 4 Currency pairs & Gold selected by Abhi.
Normal candle size had to be reduced (-) sign, Not what I have on the screen, ... Limit order for this was not looking back in time....to find support... it was calculating the size of the daily bars of the last few days... and I had to zoom out just for the exercise of screen capture for posting here...!!!
SG
Incidentally I have 5 charts for this exercise, 4 Currency pairs & Gold selected by Abhi.
Normal candle size had to be reduced (-) sign, Not what I have on the screen, ... Limit order for this was not looking back in time....to find support... it was calculating the size of the daily bars of the last few days... and I had to zoom out just for the exercise of screen capture for posting here...!!!
SG
HI SG,
Are you using GCI MT4 terminal for executing your trades?
can i know who is the broker in your case and commsion per trade?
And regarding sizing of the account, if your broker is charging only 250$ margin to enter one currency trade, why are you considering 1000$ for it?
In fact, they will lock only 250$ once u enter a trade, i guess. so 250$ becomes 5% of 5000$ per currency-pair as opposed to 20,000$ considering 1000$ margin na?
so if i have 5000$ x 4 currency = 20k$
+
not sure of gold per log margin say 10k$
can i not make it with 30k$ instead of 100000$?
I think i missed something completly while writing the above calculation and arrived at wrong conclusion :lol:
waiting for your answer to get corrected
Thanks,
..summasumma
Are you using GCI MT4 terminal for executing your trades?
can i know who is the broker in your case and commsion per trade?
And regarding sizing of the account, if your broker is charging only 250$ margin to enter one currency trade, why are you considering 1000$ for it?
In fact, they will lock only 250$ once u enter a trade, i guess. so 250$ becomes 5% of 5000$ per currency-pair as opposed to 20,000$ considering 1000$ margin na?
so if i have 5000$ x 4 currency = 20k$
+
not sure of gold per log margin say 10k$
can i not make it with 30k$ instead of 100000$?
I think i missed something completly while writing the above calculation and arrived at wrong conclusion :lol:
waiting for your answer to get corrected
Thanks,
..summasumma
Hi Summa,
1) For this exercise and the Demo challenge posted in 'Trading The Bars' is on GCI MT4
2) GCI Is The Broker... & happens to be a Spread broker so their commissions are built into the Bid Ask Spread (Real Account is with MB Trading ECN their Brokerage is $3.00 for $100,000)
3) To your query about 'Why' $1000 instead of $250... Guess you didn't read what was posted thoroughly or something has you confused. (In U.S. as per their Law a Forex Broker can only give a leverage of 1:50 (This was effective Late last year) earlier it was 1:100 for Retail Traders & 1:50 for Institutional)
Outside of U.S. 1:100 is the norm and no Forex Broker of repute will offer more than 1:100, therefore when by default I got a 1:400 on this GCI account, I wanted this exercise to be carried out fairly and that should answer your query of why $1000..it is immaterial what they block for Margin.
4) Whether you can make it with $30k... Sure just take the commodities out of the picture and trade only the 7-9 Major pairs... forget the exotics...
5) If you insist on trading the Metals sure go ahead... just reduce the trade size proportionately....& Trade the commodities on a smaller TF whereby you are out in a few hours Max.
Think you need to go back and read 'That' post again....
SG
1) For this exercise and the Demo challenge posted in 'Trading The Bars' is on GCI MT4
2) GCI Is The Broker... & happens to be a Spread broker so their commissions are built into the Bid Ask Spread (Real Account is with MB Trading ECN their Brokerage is $3.00 for $100,000)
3) To your query about 'Why' $1000 instead of $250... Guess you didn't read what was posted thoroughly or something has you confused. (In U.S. as per their Law a Forex Broker can only give a leverage of 1:50 (This was effective Late last year) earlier it was 1:100 for Retail Traders & 1:50 for Institutional)
Outside of U.S. 1:100 is the norm and no Forex Broker of repute will offer more than 1:100, therefore when by default I got a 1:400 on this GCI account, I wanted this exercise to be carried out fairly and that should answer your query of why $1000..it is immaterial what they block for Margin.
4) Whether you can make it with $30k... Sure just take the commodities out of the picture and trade only the 7-9 Major pairs... forget the exotics...
5) If you insist on trading the Metals sure go ahead... just reduce the trade size proportionately....& Trade the commodities on a smaller TF whereby you are out in a few hours Max.
Think you need to go back and read 'That' post again....
SG
HI SG,
Are you using GCI MT4 terminal for executing your trades?
can i know who is the broker in your case and commsion per trade?
And regarding sizing of the account, if your broker is charging only 250$ margin to enter one currency trade, why are you considering 1000$ for it?
In fact, they will lock only 250$ once u enter a trade, i guess. so 250$ becomes 5% of 5000$ per currency-pair as opposed to 20,000$ considering 1000$ margin na?
so if i have 5000$ x 4 currency = 20k$
+
not sure of gold per log margin say 10k$
can i not make it with 30k$ instead of 100000$?
I think i missed something completly while writing the above calculation and arrived at wrong conclusion :lol:
waiting for your answer to get corrected
Thanks,
..summasumma
Are you using GCI MT4 terminal for executing your trades?
can i know who is the broker in your case and commsion per trade?
And regarding sizing of the account, if your broker is charging only 250$ margin to enter one currency trade, why are you considering 1000$ for it?
In fact, they will lock only 250$ once u enter a trade, i guess. so 250$ becomes 5% of 5000$ per currency-pair as opposed to 20,000$ considering 1000$ margin na?
so if i have 5000$ x 4 currency = 20k$
+
not sure of gold per log margin say 10k$
can i not make it with 30k$ instead of 100000$?
I think i missed something completly while writing the above calculation and arrived at wrong conclusion :lol:
waiting for your answer to get corrected
Thanks,
..summasumma
Hi Sanjoy,
Good to see you.....!!!
Aware that the chart will raise the question you raised.... because the Trade is not outlined in the Framework.....but if you noticed there are a lot of 'Fill In The Blanks Later' in the post which outlines the Setup & was waiting for Live opportunities to bring it up.... than discuss things in hindsight....
Give me till weekend because I have couple of more charts coming up...!!!
SG
Good to see you.....!!!
Aware that the chart will raise the question you raised.... because the Trade is not outlined in the Framework.....but if you noticed there are a lot of 'Fill In The Blanks Later' in the post which outlines the Setup & was waiting for Live opportunities to bring it up.... than discuss things in hindsight....
Give me till weekend because I have couple of more charts coming up...!!!
SG
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