if i'm not mistaken, they earn money through the price spread. i.e the price difference between buy and sell. Just like the money exchanger.

usually your P/L will be calculated automatically. Upon opening of a position, it will usually be a -ve, due to the price spread. If your acc has a +ve 18.xx, means you gained $18.xx

yes, you're profitting with 3k+...but...that broker gave you a $5mil demo account...lol...something would be dead wrong if you get margin call...

it's mid of the week...how's everyone's trading? dunno why...i couldnt log into fxcm...

aih...made a terrible mistake last night...go short on EG...just now look at daily chart, only notice it's been a bullish...bad bad mistake...

@tkwfriend,

Margin Call = When Usable Margin = 0

Usable Margin = Equity - Used Margin

Standard Account, 1 pip = $10 (per 1 lot)
Mini Account, 1 pip = $1 (per 1 lot)

$50. If you open a micro account, meaning 1 micro lot = $1k, where 1 pip = $0.10. Considering you're opening only one position, and the margin is taken at 5%, or $2.50, you are left with $47.50. On this open position, you can lose up to 475 pips before you get a margin call. Once you got a margin call, your position will be close, and your account balance will be left with only $2.50.


on one micro lot, 1 pip = $0.10
on two micro lot, 1 pip = $0.20...and so on.

@lowyat:
gain back your capital already ar? what position you left open? yesterday i saw, the rollover fee is quite high...GJ got up to $7.xx for rollover

This post has been edited by small-jeff: Apr 17 2008, 06:35 PM

i'm stuck on EU with -ve 100 pips...price just hit my entry and went down... today's candlestick would most likely be a spinning top closing above the pivot point...bearish tomorrow?

wow...usd pairs made huge move today...anyone gained from this? didnt know EU can go that far short...

yeah..the rising of USD also see the strength of it against eur, jpy...

why everyone who quiet today?

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Added on April 18, 2008, 10:36 pmshould expect a some retracement tomorrow though...

This post has been edited by small-jeff: Apr 18 2008, 10:36 PM

aiks...thought you had a mobile platform with you? how badly was it?

damn...$410..
hmm..i just looked at a more simpple manner..

1) on a daily chart, price rallied but could not close above 1.582x. Sellers surpressing the price.
2) on yesterday, the high was almost the same with the previous day.
3) a spinning top was formed yesterday (morning today).

combine all, means a bearish candlestick today. But to what magnitude, dunno.. lol.

hmm..lets look at what's coming next week.

EU..on a weekly chart, prices havent been able to make a close into a new high. This week a spinning top with small realbody was formed..the price might close lower next week. On 1H chart, last candlestick seems to be weakening of the retracement. Maybe monday will spend half day going sideways, and then continue bearish.

Interestingly on UJ. Maybe it could pass through the 38.4% resistant at ~104.1x, which is also the same resistant on 1st week of March. Buying strength isnt that strong..closing around middle of high/low, which is also at the 61.8% level of the 4H chart. hmm..Closing higher on Monday..

April is a horrible month.

GJ...careful for a retracement on 210 for the current bull. Seems like it's on wave 4 on 1H.

hm..i dont really know the names of the theories, but is it something like what i attached?

The chart is a daily chart.
A - Prices have been rallied for few days, and unable to close to higher high. Though the high did manage to break higher, but was pulled back to close lower. A spinning top was form. (bearish)

B - Similarly, prices couldnt close higher. Closing price of previous day is the resistant of the next day. Do notice that price did fluctuate at lower. Hammer and shooting star were formed.

Same goes with C, D, E, F. E and F are where i like to scalp. Huge spinning top close higher on E.

H and I. Usually i'll wait for the candlestick to close, then trade on the next candle. I.e, the spinning top right after H, go long.

P/S, i only scalp 10 pips every 1H to 4H (usually open/close within 2H), so i only look at the next candlestick.

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Added on April 19, 2008, 2:15 pmoooh..just googled and found out..for that pattern, usually it's accompanied by very strong up/down trend. Most appearing on daily/weekly charts. But that's not the safest way to enter position, IMHO. Usually i dont try to find pattern, but to read candlestick one by one. Pattern got too many false breakouts ler..

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Added on April 19, 2008, 2:30 pmJust to add a little, best to look at Fibonacci as well.

This post has been edited by small-jeff: Apr 19 2008, 02:30 PM


Attached thumbnail(s)

ya lar..i only wanna scalp 10 pips nia, if follow pattern kena false BO, lose 50-100 pips...or takes few days to retrace back, rollover fees also made my profit become -ve le...

you mean charts like this ya?



but if you look at the candlestick, also can tell selling is weak ba..

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Added on April 19, 2008, 3:45 pmaiks..i think i got it wrong again...but it does looked like "bullish flag"

This post has been edited by small-jeff: Apr 19 2008, 03:47 PM

hahaha...then you might be interested in getting books on Fibonacci, Gann, and Pivot Points as well le..

aih...saturday also need to work till 4:30pm...zzzz...spent the whole day in office reading Fibonacci

This post has been edited by small-jeff: Apr 19 2008, 04:15 PM

Try "Fibonacci and Gann Applications in Financial Markets" by George A. Maclean.

no lar..dont read directly from books by Gann, those very old books le most very diff to apply to modern market. They also wrote some between EW and Fibo..havent done reading though

Pivot Points ar..hm..i only use them when there's a very wide bar.

yeah...WD Gann...used $300 and $150 to profit $30000 and $12000 in less than 3 months and 1 month respectively...

If Fibonacci was still alive, wonder if he'll trade the market as well?

wah..but that book quite expensive wor...got ebook ar? better to refine your trading method ba? if everytime lost, change strategy, seems kinda hard to master it...

hm...dallor rises along with oil and gold. dunno what will it be like for usd/aud/nzd/cad pairs...

yes..that is rather correct. But as seen from last week, we've seen the rise of USD being rather strong as well. Just a matter of which is being stronger; usd or oil/gold.

haha..not too sure on fundamentals though. Speculative on Monday's bar...

but taking USD/CAD for example, price hasnt been able to close higher than 1.023x for the past 5 weeks, bearish engulfing for the past 2 weeks. Interesting...

nope...couldnt log in as well..i got the same error few days ago too, but managed to login later. why wanna login today anyway? Can go to DailyFX for the charts