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Posts by forexwiz

Market Price Hits My TP But Did Not Trigger Eventually ....Why ? In Experienced Traders Feb 14 2015 at 21:58
Your broker's reply can be correct. When there are too many buyers vs sellers at the stated lowest price, then only some/few buyers be able to filled at the lowest price. As more buyers are still eager to fill but no more sellers, the bid price will go up quickly - supply vs demand. There are brokers will very low liquid providers (participants or volume activity). Look for brokers with high liquidity to begin with - so that your limit orders have higher success in filling.
EUR/USD In Experienced Traders Nov 19 2014 at 07:39
[quote]PERPETUUMMOBILE posted: On October 8th I posted a major entry signal coming from the daily chart: Buy-stop: 1.2508 Exit-1: near 1.2570 Exit-2: near 1.2620 Exit-3: near 1.2740 ----------------------------------- Exit 1: mission accomplished[/quote] Good call. I see the price action has come up to above 1.2500 with bullish momentum firing up. So ride the wave up. As long as the 4HR bar does not close below the 50 period MA, may see 1.2700 pretty soon.
EUR/USD In Experienced Traders Nov 17 2014 at 08:04
[quote]PERPETUUMMOBILE posted: [quote]forexwiz posted: @PERPETUUMMOBILE I hope to see a sudden stab to 1.2400 and shakeout the longs before pushing past 1.2500. When this happens, I'm going long at slightly above 1.2500.[/quote] the high from Monday was a legitimate entry price. In fact, bar-formation traders use this exact price (high from Monday). Hope you had your order placed and can close out the week on a positive note.[/quote] I had a nice trade which just got closed today. May see a minor pullback on next few bars (4H), and if the price stays above 1.2500, I would not be surprise...
EUR/USD In Experienced Traders Nov 14 2014 at 12:19
@PERPETUUMMOBILE I hope to see a sudden stab to 1.2400 and shakeout the longs before pushing past 1.2500. When this happens, I'm going long at slightly above 1.2500.
DEMO ACCOUNT vs LIVE ACCOUNT In New Traders Sep 30 2014 at 06:41
Slippage and transaction costs will become apparent on live trading, especially when scalping 1-3 pips. These can eat up on the performance results compared to a demo performance. Just anticipate this when going live.
how does myfxbook calculate drawdown? In New Traders Sep 29 2014 at 06:36
You will be looking at closed trade statistics on MAE/MFE metrics and I agree this stat is quite useful to assess the trade strategy. If your MAE/MFE is good, it implies the closed trade drawdown will also be good. But myfxbook doesn't publish closed trade dd. I use the word good as it is relative - one can have different scaling or benchmark. As long as the equity curve is making new highs, then you have a good system.
how does myfxbook calculate drawdown? In New Traders Sep 28 2014 at 06:36
FX Blue dd calculation does NOT involve floating losses. Correction from last msg
how does myfxbook calculate drawdown? In New Traders Sep 28 2014 at 06:36
@fxphysics I got to correct you here. Myfxbook calculates drawdown based on current time which includes both open and closed trades. So open floating losses on the open trades are considered in the drawdown calculation. @aatie was correct to point this in earlier thread. On the other hand, FX Blue calculates their drawdown on closed trades only including margin stop outs. Their calculation does involve floating losses. Both types of drawdown calculations are valid and it is up to an individual's preference. For me, i prefer dd based on closed trades.
Petition to repeal NFA Compliance Rule 2-43(b) for FIFO / Offsetting Transacti In General Sep 26 2014 at 07:38
I have signed up too😎
Petition to repeal NFA Compliance Rule 2-43(b) for FIFO / Offsetting Transacti In General Sep 25 2014 at 15:05
@gpcode , I am running my trade strategy on 2 accounts: 1) NFA and cftc ruling and 2) with none. I started this evaluation to proof the US trade restictions are not good, at least to my trade system. You can see how my trading results defer between 2 accounts. I believe the 50:1 and fifo ruling are BS. I get stopped out more often and get stuck in the trade too long based with nfa/cftc rulings. http://www.myfxbook.com/members/forexwiz
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.