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 Forex Version 19, Foreign Exchange Market Discussion

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Buriburi San
post Feb 24 2017, 05:34 PM

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Hi all, I'm a suupa newbie trader & I hope to learn some valuable info from all the guru's here notworthy.gif

Recently I find out that the chart candlestick is behaving quite differently depending on the MT4 server timezone such as below:

QUOTE
user posted image


As the example above I find that the candlestick on Exness chart which is 0 GMT is flow much better than the XM which is +3 GMT.

As per red circle, the channel formed on Exness is formed nicely while the candlestick on XM seemed like already breakover the channel giving false signal.

I go through the chart on both broker over several time frame & I feel that the XM chart is behaving more erratically & harder to read than Exness.

What GMT preferred by you all & did it give you a better reading on the chart?

One more question, is Exness is an honest broker? From the paper all looks great but I have been read some nasty review about them sweat.gif
Buriburi San
post Feb 25 2017, 09:57 AM

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QUOTE(highlowyat @ Feb 24 2017, 05:42 PM)
XM price is a little bit lagging. I have acc in Real18 server with them I'm not satisfied with the lagging, always requote. Thank God I'm not a scalper

If the price is so bad between exness n XM I suggest u to trade arbitrage between them

Exness is in the industry for long time. I heard many good than bad. But what do I know, only have demo with them
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I truly agree with the XM lagging part, I'm having a real bad time everytime trying to scalp with them.

The price is not differ that much, 1-2 pip mostly but the candlestick shape itself can be quite misleading.

Thanks for your view on the exness part.
Buriburi San
post Mar 30 2017, 04:33 PM

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Hi all, after a while I found that XM do FREEZE their MT4 platform a LOT!

Orders often cant be filled during high volatility or huge clear price movement in 1 direction but strangely orders via android MT4 apps can be filled with no problem at all during same period.

Anybody can confirm? hmm.gif
Buriburi San
post Mar 31 2017, 05:03 PM

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QUOTE(demolationz @ Mar 30 2017, 11:39 PM)
Change to ECN.
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That's my future plan after my current account grow to a substantial amount but at the moment,
I'm afraid I cant afford the fee yet sweat.gif
Buriburi San
post Apr 1 2017, 11:15 PM

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QUOTE(cmk96 @ Mar 31 2017, 10:34 PM)
Check your desktop/laptop internet latency and your mobile mt4 latency.

My experience... my desktop performed faster...due to 100Mbps line.
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Pc latency is all right, this issue must be from xm side.

QUOTE(highlowyat @ Apr 1 2017, 03:14 PM)
i withdraw all my money in XM this week because of this issue
some forumer here is right, just apply for ECN to get things smooth but with some fees
i have STP account with another broker.. which is good no freeze whatsoever
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Thanks for confirming my suspicion, will move on to greener pasture when the time is right
Buriburi San
post Apr 1 2017, 11:28 PM

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QUOTE(artadi @ Apr 1 2017, 09:33 PM)
damn...so there's a big big chance EUR will still fall.
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With the very strong bearish engulfing cs formed on weekly chart last friday, sorting is the higher probability set up imo
Buriburi San
post Apr 7 2017, 09:42 AM

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QUOTE(lyrilmaki @ Apr 6 2017, 01:06 PM)
can advice my SL for $100 beginner account?
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Imo if you choose to risk 3% of your account for every trade then your SL should be max 30pips for 10 cent/lot.
But if the market demand you to place 60 pips SL then you need to change ur lot to 5 cent/lot.
You only need to adjust your lot value to to compliment your SL value & still stay within you risk/trade value.
Oh, I'm also noob so this might be not correct tongue.gif
Buriburi San
post Apr 7 2017, 03:49 PM

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QUOTE(highlowyat @ Apr 7 2017, 12:46 PM)
Stop loss should be dynamic not fixed
That's what I mean newbie join forum and get taught how to lose
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This might be true but sadly, most people are not fulltime trader and cant babysit their trade for the whole day sad.gif
Curious how you make it without SL, did you let the red float until it turn blue or do u cut ur loses quickly and move on to the next trade? hmm.gif
Buriburi San
post Apr 7 2017, 05:08 PM

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QUOTE(Goodboy92 @ Apr 7 2017, 04:51 PM)
" maybe " they SL with their account balance?

their account were 10k

they put 1k in trading account

if big lose = 10% lose`

Same as stock investing - invest in 10stock , if 1 stock go 0 = 10% lose

When got profit they keep take out from the account to maintain the amount they risk to lose

thumbsup.gif
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Ahh make sense, I kinda like this style but only if I have 10k to play with sweat.gif
Buriburi San
post Apr 8 2017, 10:44 AM

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QUOTE(highlowyat @ Apr 7 2017, 06:13 PM)
Take your profit and let your losses run

Build up your position. Set how much TP you want let say 15pips, bank in the profits, don't set fixed SL and let your losses run

Here is that catch, how much drawdown you can tolerate? 20% or 30% or 50%. Take 30%. If your drawdown more than 30%, start cut losing positions. Let say u have 3 buy eurusd all floating loss, cut 1 position.

Keep on building your positions and keep on managing your drawdown. If losses become profit 15 pips, bank it

In order to do this, don't undercapitalised and overtrading
Some newbies want to turn $100 into $1000 in 1 month

Build up your positions, I suggest not more than 10 positions at once, take profit 15-20 pips. Let your loss run, some will turn to profit some will turn bad. Start cutting your losing positions after drawdown more than 30%

Did I mentioned any indicators? Coz u don't need one. This is purely money management. The indicator is your equity.
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By building up position u mean that u will keep adding more positions apart from the existing one to catch the chart
up or down movement while gradually eliminating the losing positions right?

That's sure sounds like an advance scalping technique there.

Eventho, it's very engaging & mentally straining for any newbs to attempt to
as it needs the nerve of steel, split second decision making & deep understanding of market flow sweat.gif

Anyway, congratulations for finding your own trading style that truly reflect yourself thumbup.gif
Buriburi San
post Apr 11 2017, 12:14 AM

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QUOTE(highlowyat @ Apr 8 2017, 12:50 PM)
not adding positions to a losing position
if ur signal show EU sell.. u sell, show GJ buy.. u buy, show AU buy..u buy.. and so on
keep maximum open position to 10. more than 10 you may have problem managing it
Take profit 10-15 pips per trade, no stop loss. If DD more than 30%, start cutting your loss.. but at the same time keep adding position when your indicator produce signal

You will see your profits start to piling up and meanwhile your DD at safe below 30%

scalping is taking 3-5 pips per trade. 15-20 pips is daytrading

i disagree with mentally straining. this kind of trading is very relax and stressful.
what stressful is when you set tight stop loss then it get hit, then market move into your direction..
but you are already loss because u set tight SL.. haha (MARKET laugh at you)
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I see that high winning rate is very important for your strategy so that the possibility of your account suffering 30% drawdown
but still stay in the green is possible and I think the small TP is helpfing too.

Trading in the ranging market is helping too I guess as it's more possible for the market to come back to green without straying too far in the red.

I have to disagree with tight SL because a good SL is often used together with pending limit order & seldom triggered
with the exception that the position is totally wrong since the beginning.

What possibly happen more is the market goes all the way without triggering the limit order but I guess that will be as painful as SL getting hit sweat.gif
Buriburi San
post May 13 2017, 11:31 AM

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Hi, recently know this site from myfxbook called paybackfx which supposedly collecting rebate from your broker and refund to you part of the rebate should you link your account through them to your existing broker. They also offering usd10 per account registered to the earliest subscriber.

Anyone tried their services? Can really trust them?

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