Ivan's Trade Thread, part II
- Thread starter Ivanovich
- Start date
http://www.rense.com/general37/petrol.htm
I just picked that site out of google, but I just had resources geology and Canada is indeed second in oil reserves to Saudi Arabia. They have what is called oil sand or tar sand, which is a substance near the surface where most of the lighter oils have migrated out. It is strip mined like coal, and is now being done on a wide scale in Canada.
I saw in a book once that the CAD/JPY was basically an indirect way to trade oil as Canada is such a large exporter and Japan one of the biggest importers (edit: compared to total imports/exports I assume).
Just fun facts.
Quote from rsikit:
Yeah I am trying real hard with my patience and picking my spots. I use gft for my real account, but I got a micro account at fxcm to get the scalping itch out of my system when I am waiting for a setupBut I am being real careful and still learning the quality setups.
Can you reflect on gft and fxcm, rsikit?
I like gft, I find them fair have not had any problems with them, they are always there when you need them on the phone. Fxcm not a fan of the spreads, but just opened a micro account with them thats all. GFT spreads are pretty good. I also use tradestation for all my charting, so I use there forex which is thru Gain, and I am not a fan of gain. But actually using Tradestation thru them is not bad( they are a back up to my gft account) They do charge a commission for their trades but the spreads are usually a bit lower, its been 1 on the e/u and u/j and 2 or 2.5 on the g/u so not to bad when you figure in the commisson. Never had a problem with either account on the stop hunting stuff but I dont beleive they are out to get me either. Since I watch a few feeds when I get in a position and then get immeditaly stopped out its not stop hunting as I see all the feeds moved. So they dont hunt you down Sometimes I scalp and not for a pip or 2 but scalp off the 5 min chart and look for 10-20 pips I usually scalp the g/u and e/u. But mainly look for chart patterns at s/r on the 15 and 30 min. Trading with either one has been stable and good no disconnections, although yesterday trades were a little slow to go in about 10 mins after fed meeting but they were the same way on the futures as well chalked that up to lots of volume going in, and by slow I mean a few seconds not a few mintues. So in all positive experience with both. I was going to use an ECN like MB trading even with there commissions their spreads turned out to be the same, but sometiems at night( us-eastern time) their spreads are pretty wide. Now gfts arent fixed but they are always generally the same and dont widen during off hours or at night, where as tradestation does widen a bit at night. Just my 2 cents, but from what I have experienced the brokers arent that bad at all. Just a lot of sour grapes from people. And I researched firms and tried out lots of places and the grass is not always greener for a cheaper spread.
So they dont hunt you down Sometimes I scalp and not for a pip or 2 but scalp off the 5 min chart and look for 10-20 pips I usually scalp the g/u and e/u. But mainly look for chart patterns at s/r on the 15 and 30 min. Trading with either one has been stable and good no disconnections, although yesterday trades were a little slow to go in about 10 mins after fed meeting but they were the same way on the futures as well chalked that up to lots of volume going in, and by slow I mean a few seconds not a few mintues. So in all positive experience with both. I was going to use an ECN like MB trading even with there commissions their spreads turned out to be the same, but sometiems at night( us-eastern time) their spreads are pretty wide. Now gfts arent fixed but they are always generally the same and dont widen during off hours or at night, where as tradestation does widen a bit at night. Just my 2 cents, but from what I have experienced the brokers arent that bad at all. Just a lot of sour grapes from people. And I researched firms and tried out lots of places and the grass is not always greener for a cheaper spread.Jim Rogers said he was selling USD a couple days ago. He'll buy back in soon enough. So much for the EUR/AUD reversal.
2nd resistance at approx 1.0762.
Took a scalp, 1/5 regular size. Good for 9 pips. Spreads are nearly double on Oanda at 15, won't try that again.
http://i39.tinypic.com/212y1rm.jpg[/IMG]
http://i39.tinypic.com/212y1rm.jpg[/IMG]
I set a limit short at 2.0753, just short of s/r.
We shall see.
We shall see.
Killed the short limit order, never reached it.
Daily pivot and trendline may come intoplay later today.
Won't be back in until later this evening.
Any takers?
Daily pivot and trendline may come intoplay later today.
Won't be back in until later this evening.
Any takers?
Thanks for the insight, Rsikit
Quote from rsikit:
Holy crap ....... for the last month I have been trading my demo account thinking it was my live account.What a fool I am.
LOL .....don't worry I have made a few bone headed mistakes during my trading also. It happens to the best of us.
forex-forex
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FX guru and expert.
May the pips be with you.