theHand's Posts - Page 2

How to understand the execution speed of LMAX? in General Feb 06, 2017 at 11:45

LMAX is fast, but apparently very expensive to hold positions over night. Might want to factor that in.

linear regression to predict things in General Feb 03, 2017 at 06:15

Markets are non linear systems. People have written self learning programs to do this, one fellow had one that worked for a whole year. He still ended up having to quit while he was ahead. If it was only so simple...

Auto-trading with macOS (or linux?) in New Traders Feb 01, 2017 at 07:36

High volumes of trades happen in active portfolio management. I might have $9995 worth of USD, I want $10 000, to go add the extra $5 adds a trade, do that a few times a day you end up with volumes. Then closing becomes a major issue.

HOW TO CHOOSE A GOOD BROKER? in New Traders Feb 01, 2017 at 03:11

If you're going to do things legally and set up for the long term in places like Hong Kong and Singapore, the moment you do business there the income becomes taxable. I've have assets there, so I know. Not making guesses mate and the benefits of a big business jurisdiction by far outweighs any tax dodges I can do in a tax haven, which are on their way out anyway. Do you actually own a company ? It doesn't look like it.

HOW TO CHOOSE A GOOD BROKER? in New Traders Jan 31, 2017 at 18:16

My first thought actually is what's the tax implications of the brokers jurisdiction.

HOW TO CHOOSE A GOOD BROKER? in New Traders Jan 31, 2017 at 18:13

The clients were in the market with positions ? They weren't the victims. Alpari got screwed. People should take responsibility for their "investments". If you're running at 50:1 on a pegged currency you are simply asking for shit. That should be obvious to anyone with intellect. So that was political and the government could afford it, it was a small insolvency. Obviously no one should touch the small "can fall off the internet" brokers (that means all MT based brokers), I also look at jurisdiction, but I don't bargain on the insurance. That is a really bad rea...

HOW TO CHOOSE A GOOD BROKER? in New Traders Jan 31, 2017 at 17:03

@FxMasterGuru That insurance means nothing. I can't really remember the details, it's too long ago and I would have to spend the time to find the details. Just not worth it for me to do that for yet another internet argument with a stranger, but I did make a mental note at the time not to worry about insurances. I think it was Anne Barnard actually, the consequences were in the 2008 failure of MF Global. Basically the insurances were waived, client accounts frozen for months, 30% change in copper value, clients unable to trade and one of the biggest futures hedge funds closed it's ...

Books for technicians, developing strategy, day trading in New Traders Jan 31, 2017 at 15:29

Anyways, I don't work for them. They're likely to best of then bunch.

Books for technicians, developing strategy, day trading in New Traders Jan 31, 2017 at 15:23

A lot of it will be about how to use their product. They're not traders either. They're a broker, a middle man. Which can be very frustrating, since they've pretty much lost the plot in terms of product. But still the best out there. But what they do really well is display information which you will not find in MT. Like position values. I haven't gone through the information, but I presume it will be as good as is commonly available and in some cases better, like understanding the difference between the base currency of an account and a base of a pair. Details, which is what fx...

HOW TO CHOOSE A GOOD BROKER? in New Traders Jan 31, 2017 at 14:15

In order of priority:1. Minimum trade sizes2. Over night costs3. SpreadAnd finally check if they have frozen other peoples trading accounts. Frozen accounts is a bucket shop trick. If you don't want the client send his money back, bucket shops declare disputes and simply keeps the cash.

Books for technicians, developing strategy, day trading in New Traders Jan 31, 2017 at 13:55

CPA ?Some resources below, but as I said be mindful. 99% of the information on fx available even from brokers is just the conventional wisdom and that has a 30% success rate. We know that because the figures are published and it's not the same 30% every year. Probably 10% success long term and only about 1% of those will make serious money from fx. The conventional way of doing this, which is all over the internet and is propagated by threads like this is waste of time. The key to fx is first and foremost trade sizes which is a function of your risk, thus DD. Get that wrong it doesn't ...

Books for technicians, developing strategy, day trading in New Traders Jan 31, 2017 at 12:06

All the threads here are about trading and what works and what doesn't. But what the hell. I suggest reading a Richie Rich comic. There's drawings of money in it. It will help about as much as a book on TA. If anyone is interested in making money and not joining a book club, I suggest Von Tharp's work on risk management, which is actually quite relevant.

Books for technicians, developing strategy, day trading in New Traders Jan 31, 2017 at 09:37

And a thank you for at least trying to help every now and then will be welcome. Ungrateful ****.I could and probably should just leave you guys to battle TA's for a few years.

Books for technicians, developing strategy, day trading in New Traders Jan 31, 2017 at 08:58

I am helping. By not going down the TA route you'll save about 3 to 4 years. That's how long it took me to figure out it doesn't work. And I'm quite disappointed no one mentioned that to me earlier to plant the seed or I would be a lot further than I am today. I'm not a born computer genius. I just decided to go do the course and spent the time to learn how to code. Once I realised TA is a dead end. At this point being able to code is pretty much a minimum requirement for trading. I'm nothing special, been a blue collar guy all my life. If I can code anyone can. Sure, ...

Books for technicians, developing strategy, day trading in New Traders Jan 31, 2017 at 07:49

And I wasn't taking a swipe at whoever the author is. I was simply saying technical analyses is completely and utterly outdated. I'll give you an idea. I run about 20 systems, 28 pairs per system, lets sat average 30 000 ticks a day. That's 16 800 000 calculations a day resulting in about 60 000 trades a month. And I'm not even a top tier trader. Some of them are doing up to 1000 orders per second.

Books for technicians, developing strategy, day trading in New Traders Jan 31, 2017 at 07:44

No chance mate. I don't want my methods to be public knowledge. There's serious value in it which I would like to preserve.

Books for technicians, developing strategy, day trading in New Traders Jan 31, 2017 at 07:41

I'm trying to tell you to skip the technical analyses phase of the forex learning process. It prevents you from getting to the things that make fx work, which is things like position sizing and risk management. Just accept from day 1 you will never be able to predict fx with any form of analyses, technical of otherwise. People make their money from managing the positions, not from predicting direction. Most of the EA's you'll get is nonsense. You'll be much better off doing your own thing and much more independent for it.

Auto-trading with macOS (or linux?) in New Traders Jan 31, 2017 at 07:23

You're missing two very large issues. 1. Speed. With O you simply send an apposing order to close positions. Most systems will generate multiple trades for positions. So if you need to get out in a hurry on O it is one order, with MT you have to close every trade and wait for a response. The speed difference is massive. And for me, easy 500 trades in a TP. Takes you between 250 to 500 seconds on MT. On O's API it could be as little as 100 ms. In MT5 this is not an issue. 2. Trade sizes. On MT you can only come up in increments of 1000. With the API it's 1, iow's I'm compoun...

Books for technicians, developing strategy, day trading in New Traders Jan 31, 2017 at 01:22

Means he can't make technical analyses work either or he wouldn't be earning a living from selling his books now would he ? In an age of robots pitching up to the fight with a ruler and a pencil doesn't cut it. Most technical analyses ideas are over 100 years old. Thing like moving averages for example. They belong to a different era. Fx pairs have between 20 000 and 40 000 ticks coming in a day. Over 30 pairs, which is the number of combinations in the majors that is over 1 000 000 value changes a day. I'd say it's far better to study systems than it is to study markets. T...

Auto-trading with macOS (or linux?) in New Traders Jan 30, 2017 at 10:07

Oanda has several API's and at least some of them are system agnostic. Have you looked into the JAVA API ? It's the best developed one. O has the best trade sizes and it's the fastest.All the other suggestions are a step or several backwards. Why exactly isn't it working for you ?

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Posts by theHand