OnTheEdge's Posts - Page 2

Flash Crash trader who allegedly helped trigger the £500 billion Wall Street in General Apr 23, 2015 at 21:16

If convicted this could open a whole new can of worms for large traders. I'm not sure as traders we should use the word "Greed" we play a zero sum game. There's Wealth Accumulation and Excessive Wealth Accumulation, neither of which IMO is Greed.

Where to find reliable historic data? in General Apr 15, 2015 at 09:56

Try SQ Tick Data Downloader, you'll need a CSV2FXT script but you should be able to find that.

Trading multiple currency pairs in General Apr 15, 2015 at 09:52

Hey Sebastian,This is my "opinion" on handling these situations;1) Break up the pairs into groups to try and avoid trading correlated pairs (and now groups since they are separated), the reason is to mitigate risk by not being exposed to all the pairs. Yes, sometimes the trade(s) work out fine however, as you saw you probably could have risked the same amount on a single EURUSD trade. This would have allowed to you focus on 1 trade rather than multiple trades. That said if you have the same setup and follow your trade rules and have a signal there is not a logical reason to not take ...

Merge Strategies / Backtests in Suggestion Box Aug 20, 2014 at 05:23

hey great idea, maybe Ethan could set something up to enable us to use the "Group" feature to combin the results of our backtest reports? This would also help with forward testing if we trade multipule pairs, so the back test and forward test are more true representation of the strategy. The link posted by cyberryder is not exactly the same as being able to combin the results just through myfxbook, but it is an interesting piece of software.

Looking for a Programmer, ASAP in Programming Dec 12, 2013 at 16:24

I want to add some options to 2 different EAs.The Options would be:Stop-Loss Settings (Based on ATR)Trailing-Stop Settings (Based on ATR)Partial Close and Break EvenOne of the EAs has some of these but not all the options.The other has non of these options.Please Contact me via MyFXBook, I will send you the EA's along with the changes I need. I need you to tell me the price to complete this and Time frame I can expect it completed. Also, would be beneficial if you have a website where you offer MT4 coding, not looking for a wanna be coder.

A life change in New Traders Oct 17, 2013 at 13:40

I would disagree that trading is gambling, it's more of a guestimate. My wife and I both trade, she is trading manually and I (not having much time) have started testing automated trading. Some point's you may want to consider;What type of trader to you want to be Technical, Fundamental or a combination of both. IMHO, being a fundamental trader is far to expensive in time and learning curve Unless you focus primarily on 1 currency. Technical trading is much easier to learn and coming up with a strategy that fits your personality is less time consuming. There are no new ideas in tradin...

Volcker rule could hurt liquidity in FX spot market in General Sep 03, 2012 at 20:35

It was very interesting to me that in many forums US Citizens complained about "unfair leverage" with relation to trading contests ( a good example is over at the dailyfx.com forums which is FXCM, their king of the micro contest has one of the biggest payouts each month I've found). There are several threads which go into great details to try and level the lack of leverage available to US traders, which have come about as a result of Volker and Dodd-Frank.What I found interesting is that 14,000+ old women put together petitions to send to Washington, yet we didn't hear of any...

Sharpe Ratio - Highest in myfxbook in General Apr 01, 2012 at 10:56

I couldn't agree more. Unfortunately, when looking at your own comments in this case the investor was only worried about the numbers. This maybe to their determent in the end but "I told you so" hardly every helps bring investors to your method after they have profits or losses in a system that fit their statistical requirements, even if at the end the ride was not what they had expected. This is evident in the Bloomberg Risk Takers, Michael Burry Profiled (http://www.bloomberg.com/video/72756316/) in the end he was right but all his investors left...richer..but they still left.

Sharpe Ratio - Highest in myfxbook in General Mar 31, 2012 at 22:07

It matters if potential clients are using it to measure risk because they "Believe" it is a measure of risk.Nevertheless, I offered an option that truly measures risk or at least the past performance of risk, obviously this wasn't acceptable."A clients belief in their system to evaluate the risk/reward of potential profits/losses far out weighs factual statistics, regardless, if the system omits/includes irrelevant data."

Sharpe Ratio - Highest in myfxbook in General Mar 31, 2012 at 12:04

Thought I'd throw in my 2pips worth,I am in the process of reading "Way of the Turtle" I have just completed a section in which Curtis Faith talks about the Sharpe Ratio and found this very interesting. I remembered this post and thought I'd come back and reread the comments and maybe make a few.Although many comments seem to be dancing very close to the real problem with the Sharpe Ratio, In laymen terms it is not possible to use the Sharpe Ratio in the Forex market (even though it's being used).As most who have posted here may understand but I didn't fully grasp, th...

Is what's happening in the contest even remotely possible? in General Feb 25, 2012 at 11:48

I agree, 3000% month after month is not sustainable, I thought I pointed that out? Let's be honest about the 1000 percent gain month after month scenario, if there was someone who could do that, they would have their own broker and would not be using any retail platform available. 😉Bill Lipschutz, although he would not provide any numbers, according to the author; "it has been estimated that his trading alone accounted for an excess of one-half billion dollars in profits for SalomonBrothers over his eight-year stay with the firm.""Lipschutz was significantly profitab...

Is what's happening in the contest even remotely possible? in General Feb 25, 2012 at 11:04

I disagree only because if you've read Market Wizards or New Market Wizards the author points out that many of the traders are relatively unknown even though they are/where managing 100+ mill. Bill Lipschutz comes to mind.A successful trader can remain relatively unknown if they so choose.

Is what's happening in the contest even remotely possible? in General Feb 25, 2012 at 10:17

Yes, it is possible to achieve these kinds of results on a regular bases. But I don't know if it can be done month after month with consistency.However, take a look at this thread over at fxcm they have a micro contest with some nice prizes each month (http://forexforums.dailyfx.com/king-micro-trading-contest/) most of the winners are making at least 1000% return on their money. The October 2011 winner made over 12,000% for that month. (http://forexforums.dailyfx.com/king-micro-trading-contest/433466-octobers-contest-results-winner-returns-12-725-31-a.html) There has been at least 1 or mor...

Only Real Money-Making Traders Apply in New Traders Feb 23, 2012 at 10:01

Keith,The site is a paid for service (wizetrade.com/lp/brasil61/index.htm) is that the correct site or is the tiny url wrong? Never mind the link to gotomeeting is in the text not the signup box...

Only Real Money-Making Traders Apply in New Traders Feb 21, 2012 at 15:55

Look up Hector Deville, learnforexlive the course covers all the basics and advanced methods to using price action. He personally uses no indicators nor does he suggest them. I've looked at a bunch of different courses and at this point his methods are working for me...

Contest - OnTheEdge in Trading Systems Feb 20, 2012 at 14:36

for anyone interest in how well Ichimoku works this was kinda a test...I may have set the lots to high but the system for the most part trader on it's own...I did try closing out some trades that were in profit but I was wanting to let it run by it's self.

Only Real Money-Making Traders Apply in New Traders Feb 20, 2012 at 14:33

I would just like to offer a couple of things.1) At the VERY LEAST you should be trading 1:1 Risk/Reward, from what you said your stops are 2X the size of your profits...means if you loss twice you have to win 4X to get back to BE...that's a fast way to the poor house.2) Track your trading more carefully, start by adopting a 1:1 and then keep track of how far the market went against or for you in the end. So if you took a trade and made your 10 pips and the market went an additional 50 pips before a major retrace or coming back to your entry write (or track in spread sheet) that info.Over...

Looking for a good forex broker.. im in Canada in General Feb 20, 2012 at 09:25

If you want to get away from the clunky MT4 platform and use a very nice charting package take a look at http://www.fxcm.co.uk , I'm a chart trader and their Trade Station 2 was the primary reason I choose them. They have excellent support and their dailyfx.com site offers a lot of training and live videos. The charting software is very easy to use and makes trading from the charts very effective. Personally, I hate MT4, it's like bringing a knife to a gun fight. Spreads are decent, not the best not the worse...I look for trades of at least 30 pips, the spread for eur/usd on average is...

Hey all!...What is a good monthly return/drawdown limit ratio target? in General Jan 19, 2012 at 08:53

I agree, your results are what clients will look at...you should have a set draw down % that would "trigger" so to speak at say 30-40% (just an example) after that point clients have the choice to keep trading or withdrawal their funds... that's how the big boys do it. As for a % per month...I tried this on my personal account and it had a negative affect as I was aiming for a goal which didn't always work because market conditions are not the same month to month. I found myself forcing trades that I should not have been in...as for your PAMM account this will save you from a...

All Quotes
AUDUSD	0.6414	USDCHF	0.9102
EURJPY	164.77	EURCHF	0.9701
EURGBP	0.8605	GBPJPY	191.31
EURUSD	1.065	GBPUSD	1.2368
USDJPY	154.619	USDCAD	1.3798

EURUSD	1.065	GBPUSD	1.2368
USDJPY	154.619	USDCAD	1.3798

Posts by OnTheEdge