Forex Trading Signals

Hi Electric-Sorry I didn't really answer your questions in that last reply did I?

1. Yes I think Netpicks provides you with enough signals in the evening that you could trade it on the West Coast. Also they offer two entry methods so you wouldn't necessarily have to sit at your computer all night waiting for a trade to signal.

2. Yes I do use Oanda as my forex broker and get my charting from Tradestation. I do find there is a discrepancy sometimes as much as 4 or 5 pips. Sometimes there is no discrepancy. I agree it's weird, but basically I just deal with it. Netpicks just gives you a set number to add to the high or low of the day and you enter off of that.

For example let's say they give you a number like 55. You would then look for the low of the day let's say it was 1.300 If the market gets to 1.355 then you enter the trade long. Anyway that's a simplified version of it. If there is a discrepancy between your broker and your chart you just find ways to deal with it.

hope this helps.

Kiasu
 
Thanks Kiasu....but is the stop a time stop also? Do you exit when the next key numbers are published? I guess my questions will be answered when I trial them. But I hate to give out my Credit Card number for a trial...

Michael B.


Quote from KiasuTrader:

Hi Electric-Sorry I didn't really answer your questions in that last reply did I?

1. Yes I think Netpicks provides you with enough signals in the evening that you could trade it on the West Coast. Also they offer two entry methods so you wouldn't necessarily have to sit at your computer all night waiting for a trade to signal.

2. Yes I do use Oanda as my forex broker and get my charting from Tradestation. I do find there is a discrepancy sometimes as much as 4 or 5 pips. Sometimes there is no discrepancy. I agree it's weird, but basically I just deal with it. Netpicks just gives you a set number to add to the high or low of the day and you enter off of that.

For example let's say they give you a number like 55. You would then look for the low of the day let's say it was 1.300 If the market gets to 1.355 then you enter the trade long. Anyway that's a simplified version of it. If there is a discrepancy between your broker and your chart you just find ways to deal with it.

hope this helps.

Kiasu
More...
 
you should check out http://fx.unigma.com . I tried them for a while and was pretty good. I stop using trade signals because its best to learn to trade on your own. The problem with signals is they send you a buy signal at the exact top and by the time you get it it has moved 10 pips and when they exit bythe time you get it it has lost 10 pips. So on each deal you loose 20 pips and if its a loosing trade you loose an extra 20 pips.
i could never make money from signals even though they they show all profit on their performance record.
 
Yeah, so true. I had the same experience exactly as you explained with a company named, I-Quant. But it seems that the service named, Netpicks publishes before the trade and you use limit orders to enter and exit at published key level areas.

Michael B.

Quote from watchdaride:

you should check out http://fx.unigma.com . I tried them for a while and was pretty good. I stop using trade signals because its best to learn to trade on your own. The problem with signals is they send you a buy signal at the exact top and by the time you get it it has moved 10 pips and when they exit bythe time you get it it has lost 10 pips. So on each deal you loose 20 pips and if its a loosing trade you loose an extra 20 pips.
i could never make money from signals even though they they show all profit on their performance record.
More...
 
:cool:

See today's report below
The Futures are underneath.

Note: Euro Futures and Euro/USD move the same for the most part so you can execute in either market.:D

p.s. Sometimes the Forex moves farther away either up or down and beyond the Futures at times but that is the only variation of the 2 markets other than point spread and slippage.

:cool:
 

Attachments

Nice report...Question? Why is XAU a buy? According to your levels and its last close its approaching resistance? I parsed your line from the report.

XAU 4/27/2004 87.45 Buy 88.98 87.85 87.13

Michael B.

P.S. ok I think I see...risk reward picture is better....


Quote from T-REX:

:cool:

See today's report below
The Futures are underneath.

Note: Euro Futures and Euro/USD move the same for the most part so you can execute in either market.:D

p.s. Sometimes the Forex moves farther away either up or down and beyond the Futures at times but that is the only variation of the 2 markets other than point spread and slippage.

:cool:
More...
 
Quote from ElectricSavant:

Nice report...Question? Why is XAU a buy? According to your levels and its last close its approaching resistance? I parsed your line from the report.

XAU 4/27/2004 87.45 Buy 88.98 87.85 87.13

Michael B.

P.S. ok I think I see...risk reward picture is better....
More...


Yes,
With the Pandora Price Triggers risk/reward and supply/demand price lines ARE taken into account with the algorithm.

Thank You

T-REX
:cool:

p.s. how did you like the sell triggers in the Stock Index Futures today?

Pandora is crazy nice with the entries.
I like how the non-static rules allow you to apply your own risk parameters to the set up. you can trail you position on one and let the other one ride assuming you traded on a 2 lot?
 
Baruch,

Can you post a link to the jyskebank commentery, please? I'm having trouble finding it o the FxStreet page.

Thanks.
Disciple
 
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