10.6 EDSEL

[jago25]

Getting ready for the new year?

What would be an example of how to setup a trade other than a pending order? How would you do that?

I DO NOT recommend FXCM in any shape or order now... I spotted fixed trailing spots moved to the wrong side of price thus causing SL never to engage. Strange for an ECN. Now setting up a company to trade through instead for simpler tax returns and accounting...

[nanningbob]

I will write my thoughts on the upcoming year later today but here is a zinger:

Almost a year ago, the French constitutional court ruled against Francois Hollande's triumphal blast into socialist wealth redistribution, with his proposed 75% tax rate on high earners, and so indefinitely delayed the exodus of the bulk of French high earners (even if some, like Obelix, aka Gerard Depardieu, promptly made their way to the country that has become the land of solace for all oppressed people everywhere, Russia) into more tax-hospitable climes. That delay is now over, when earlier today the same court approved a 75% tax on all those earning over €1 million.

[95026862]

does this look valid to anyone ? possible head and shoulders ?

[yamez]

does this look valid to anyone ? possible head and shoulders ?

10.6 EDSEL on EURGBP on H1 is moving into a possible sell position on my charts, so yes. No EDSEL trade signal yet though.

Different signal, the H & S, but possibly the same outcome.

[zimezoom]

Please help me with the position sizing! What does 'few cents to 1000' mean?

[trucomallica]

Please help me with the position sizing! What does 'few cents to 1000' mean?

Thanks for bringing that up. I realized I'm trading too big with my demo (FXDD Malta) which is 10 times bigger than a demo from I B F X Aussie where I have the CSS.

I just put a trade on the I B F X demo and a -5 pips (50 points) is equal to -$ 0.05 (USD). The same trade with FXDD would mean -$0.5. Bob has been talking about this, but I thought I had it right.

So, for every PIP your account should move $0.01 with a 0.01 lot trade. Damn I need a new demo LOL:lol:

Edit: that would be for a micro account where the symbols are followed by an "m"

[zimezoom]

Thanks!
Let's say I have a 5000$ account. I open a 0.01 lot EURUSD position (which is the minimum), and it moves 10 pips. Then my account moves 1 USD. That is 20 cents to 1000 USD, right? For 1 pip it is 2 cents, so I comply with Bob's rule, do I?

[zentauro67]

Hi, 950

In the short frame it seems a bearish H and S forming in EURGBP 4H, but if you zoom out you can see a bullish HS. So, the best thing is stay away for the moment.

EURUSD is hot right now. A violent reversal could happen in the first weeks of the year (see channels in daily and weekly charts) or, if this insane demande continues, it could reach 1,43. Until dummie lights confirm a reversal zone best thing is wait and see.

Imagen 001.jpg

[trucomallica]

Thanks!
Let's say I have a 5000$ account. I open a 0.01 lot EURUSD position (which is the minimum), and it moves 10 pips. Then my account moves 1 USD. That is 20 cents to 1000 USD, right? For 1 pip it is 2 cents, so I comply with Bob's rule, do I?

For every 10 pips (100 points) the account should move $0.1.

[nanningbob]

About position sizing. You refer to the 'few cent to 1000' $ I guess. Maybe it's just me, but what does that exactly mean?
If I have a 2000$ account with 1:100 leverage, my minimum lot size is 0.01 (1000 euro for example in EURUSD), then 'how many cents to 1000' I'm playing? (Well, I ask for the formula actually
Thanks and Happy Seasons!

OK back from Nanjing and time for answering some questions.

Every broker is different and what a lot size means depends on your account. The easiest way to explain it is .01 can mean one penny, one dime, or one dollar per pip on USD pairs depending on the broker and account you have. Other currencies it can be more or less than that per pip. You need to figure it out before you trade and understand what you are doing.