Forex rebates on every trade - win or lose!

Seymour,

Firstly, I've never really considered myself to be a daytrader, diving in and out umpteen times a day. I've never really got to grips with it and I've never been any good at it.

I'm doing it at the moment simply because I've had more time on my hands since the summer and it's the best way I know of making money whilst keeping my clothes on. I've spent a lot of time recently developing a strategy based upon the 1-minute charts (I'd never really looked at them until this autumn) and it's only over the last few weeks that some things have started to make a lot more sense than they ever did previously.

That said, I've still only got it working properly on the EUR/JPY. Other pairs/crosses could still be some way off.

The answer to your question, I guess, is that it's too early to tell. I do like the idea of being able to come to the market at any time of day and just get on with it. For instance, the last 30 minutes (edit: it's actually 45 minutes because I got distracted typing this post) has seen 3 easy trades in EUR/JPY for 90 pips at a time when most people are thinking about their 2 hour journey home round the M25.

Ask me in the new year whether I still enjoy it. It's a bit of fun at the moment because I'm learning some new tricks. Generally though, trading doesn't give me any great buzz as it seems to do with some people and too long at the screen is no good for anyone imo. It's little wonder there's so many fruitcakes hanging around the internet.

It's just a means to an end.

Made me smile :-)

edit, thanks.

Oi, Hil, who are you calling a fruitcake? :)

Oh it's not just you, Delboy. About 80% of the Freeview and 40% of the Pay Per View fall into that category too.

:o)

.............. and 99.9% of ADVFN.

Hils, just in from gym, knackered, :-)
will start a new thread and post the arrow thingie over the weekend

Seymour, if you are happy to send another what you said you'd send to CC I would be delighted. I think I am like you and scratch around with FX when I am allowed away from my ophthalmoscope although try and trade 2 days a week and when I can get to internet?
If you are happy to I will put e-mail up until you acknowledge

Hi All,

I hope you are all having a good weekend, its Sunday evening here so mine is almost over.

I dont know if any of you use Ninjatrader ? , I have been playing about with it this weekend and have found some handy indicators .

On the chart you can see the green and red dots, they indicate if the last bar closed above/below a EMA which you can set to any length I have them set at 5,20,100,200
so you can see the bigger trend. You can also make the indicator lines move in steps like on the Macd ,it makes the crosses easier to see.

Ruth, have sent you a message thru moneyam

Morning all,

I came across this on another website, Its nice to see how quick compounding builds your account.

----------------------------------------------------------------------------------
1% return a day on your capital - your capital DOUBLES every 71 days.....
2% return a day on your capital - your capital DOUBLES every 37 days !
3% return a day on your capital - your capital DOUBLES every 26 days.....
4% return a day on your capital - your capital DOUBLES every 20 days !
5% return a day on your capital - your capital DOUBLES every 17 days.....
6% return a day on your capital - your capital DOUBLES every 13 days !

Of course this is all dependent on you reinvesting all of your returns - but even so :

1. If you started trading with �10,000 and averaged a 1% return every day
2. Reinvested that return and got another 1% the next day ect.
3. Worked 5 days of the week, 52 weeks of the year!!

Then you would have �1,000,000 in 1 year and 10 months..........................
---------------------------------------------------------------------------

So on a 10k account 1% return is 100 or 10 pips ..if you risk 1% per trade you can have a 10 pip stop which isnt to outrages for a 1 min timeframe.

So I have been thinking instead of 10pips per day I am going to target 50 pips per day on the Eur/Jpy with a max of 30 pips loss per day.

I would be interested in anyones thoughts on Targets , I know it is better to let the market reverse and stop you out , but i do like the idea of getting the job done if you see what i mean.

Ian

Interesting chart, Bud, although I was more interested in the Word Doc that you had open in your taskbar called "mg hils settings" which has now been whited out since I looked in yesterday.

morning all
lovely arrers buy on gbpjpy this morning.Shame I couldn't get myself into gear earlier. Would have been a nice 100 points

Hi Hilary,

you are a sharp cookie .

I saved some charts and stuff into a word doc, so I didnt have to keep looking back at the thread.

I must say your my hero now,, I have taken 50 pips on EJ today .

Just looking at the same trades on GJ and it would have been 120.

I have never looked at the 1 min before , but I will from now on .

Ian

Hils, sorry never got round to posting a new thread with arrow thingie on yesterday, had in laws visit, will start a new thread up tonight.

hi everybody, two emas that seem to work nicely with the 1 min chart are -

5 ema close and 6 ema open

I am not sure which brokers you all use.

here is a pic of some IB spreads so you can compare.

Hmm. How very inconvenient that Buderim has a document showing other people's settings and at the same time I'm seen to be sending info out to other interested traders. It's nothing to do with me Hils, Buderim would you please confirm? Any stuff I send to other folks is only stuff that's in the public domain and I'd never reveal any confidences. Have only been in touch with CC anyway.

errmmmmmmm,


there seems to be a bit of a mis-understanding going on here.

I dont have a document from anyone , All I have done is cut and paste a few posts that I thought were useful into a word doc so i can keep them together.

I can assure you all , I am just trying to improve my trading , which if today is anything to go by ,it has :)

Ian

It's no problem, Bud, but I'm sure you can see why I was more than a little intrigued by the title of the Word Doc. I'm flattered.

:o)

I imagine meggers will be choking on his crunchy nuts ;)

How do you know he's got crunchy nuts?

:o)