10.6 EDSEL

[HannesJoubert]

Hi guys, sorry a bit off topic here, but in keeping with the thread...

Part of my problem it seems is that my broker, whilst I am trading e.g. .01 lots, is giving me the same $ value as trading .1 lots with Cowboy IBFX. Now my understanding is that I am supposed to be on a micro account with my current broker... Is there something that I am missing? Is my brokerage account actually a mini and not a micro?

What should I ask for at a broker then? As I said I thought I was on a micro account...

[genaja]

Hi guys, sorry a bit off topic here, but in keeping with the thread...

Part of my problem it seems is that my broker, whilst I am trading e.g. .01 lots, is giving me the same $ value as trading .1 lots with Cowboy Cowboy IBFX. Now my understanding is that I am supposed to be on a micro account with my current broker... Is there something that I am missing? Is my brokerage account actually a mini and not a micro?

What should I ask for at a broker then? As I said I thought I was on a micro account...

If your have 10 times greater values like Cowboy FX, looks like your current Broker is a mini account.
The smaler size was micro. FXCM have mini accounts as smalest too. I think ALPARI has micro accounts.

[Jason Rogers]

The smaler size was micro. FXCM have mini accounts as smalest too.

HI Genaja, just to clarify for everyone: all FXCM accounts allow our clients to trade micro lots (AKA 0.01 lot size on Empty4) where you're risking approximately 10 cents per pip. :hi:

[genaja]

HI Genaja, just to clarify for everyone: all FXCM accounts allow our clients to trade micro lots (AKA 0.01 lot size on Empty4) where you're risking approximately 10 cents per pip. :hi:

Hi Jason,

sorry, I does not explain that exactly. 10 Cent per pip, that was a good explanation.

I wanted to say, the old broker was a micro Account with 1 cent per pip, and his current broker was a mini Account with 10 cents a pip. The technical terms "mini and micro" are not so important for him and for me. The answer to his question is, yes - there a different sizes of lot an pip values. I do not know how to say it differently, english is not my native language.

In any case it is important to know what is the worth of a pip. If you start your account with only 100 USD, it was good, if one pip is only 1 cent. Otherwise you must be very carefully!

[Jason Rogers]

i'm live with fxcm. they don't calculate the swap until the trade is finalized . here's a previous from my history

Hi 95026862,

With your Empty4 account login, you can also access Trading Station, either the desktop or web version: https://tsweb.fxcorporate.com/



On Trading Station, you will be able to see the swap listed for short and long positions in the Roll S and Roll B columns respectively as shown above.

[HannesJoubert]

Thanks Guys, it does seem then that I am really at a Mini level and not at a Micro level. Here's to hoping that they will allow me to move across to a Micro account...(i.e. I am totaling $1 per 10 pips, or $20 per 200 pips)

Who knows? And that makes a huge difference. e.g. I could have stayed in my NZD positions and climbed out at BE or profit, because I would have had enough equity...

H

[95026862]

yes it might show rollover, but swap isn't calculated until i finally decide to close my position

i'm live with fxcm. they don't calculate the swap until the trade is finalized . here's a previous from my history

Hi 95026862,

With your Empty4 account login, you can also access Trading Station, either the desktop or web version: https://tsweb.fxcorporate.com/



On Trading Station, you will be able to see the swap listed for short and long positions in the Roll S and Roll B columns respectively as shown above.

[nanningbob]

NanningBob,
My theory on the learning CT, was that once market volatility drops in summer, Trend wont be profitable, and CT will.
Now you have been trading this longer then anyone, so does my assumption hold water? *
*something from My Uncle Vinny

CT or/and Range trading work very well until you hit periods of extreme volitility. These are the times when those who promote martingale type system get their heads handed to them on silver platters. OK JPY turn is next. Man look at it run but that was to be expected with the bad China news. Aud, nzd down JPY up, we have marked that story before.

Not a good time to be range or CT trading. Time to trend trade so follow the run bars.

NannigBob
I think you misunderstood my question,

Is the summer time still volatile enough to trade trend?
or do we need to learn CT to make money in summer?

The questions has a problem. You assume that prices wont run or trend during the summer. The USD did two runs this summer first an UT and then a DT. Couple years ago the EUR and CHF did a big DT from the euro/greek crisis during the summer.

Trends are usually caused by government policy or economic conditions. Those can change at any time and can cause a trend. The same is true with range periods, they can happen at any time. In fact at any one moment some currencies are trending and some are ranging. For example eur/aud and eur/cad are broken out while the rest of the euros have stayed within range. GBP has several in breakout most up one down and some still in range.

There are two rules in Forex I have learned:
1. What goes up must come down and what goes down must come up.
2. There are no rules in Forex. The minute you have a rule the market will break it.

I finally broke one of my rules in Forex. You cant make money in December. Well by golly I did it. So you read your charts and trend trade when it trends and range trade when it ranges. That can happen at any time during the year.

[lonelytrader]

I guess what I should have said is...
Based on my very short time trading forex using the NB system, the one day I had losses was MLK day, which meant low volume and volatility, so as a result I deduced that when markets are ranging rather then trending I need to switch to CT...

I now see how silly that sounds, but hey this is where we ask all those questions and help each other learn to make the MM guys cry.

[nanningbob]

I guess what I should have said is...
Based on my very short time trading forex using the NB system, the one day I had losses was MLK day, which meant low volume and volatility, so as a result I deduced that when markets are ranging rather then trending I need to switch to CT...

I now see how silly that sounds, but hey this is where we ask all those questions and help each other learn to make the MM guys cry.

Its not silly it is how you learn. My problem is it maybe the first time for you to ask the question and it maybe the 50th time I have answered it over the years. I constantly have to put my self in your shoes as a learner and to be patient as others were patient with me when I asked silly questions. So keep asking and forgive my occasional impatience. Sometimes I just get out of the wrong side of the bed and ...............