EURUSD Scapling | Currency Futures


futures.io - futures trading strategies, market news, trading charts and platforms


Currency Futures


This subforum allows you to find traders that trade Currency Futures. You may post about anything to do with trading currency futures in this section




 

EURUSD Scapling

  #9 (permalink)

San Diego, Calif. USA
 
Trading Experience: Intermediate
Platform: ninja trader
Favorite Futures: EUR/USD
 
Posts: 33 since Oct 2011
Thanks: 10 given, 19 received

you do have the $

Great Post, mtaalamu. I do have a question for clarification please. My Broker is also MBTrading and although I don't have the $ to not have a spread, I certainly have no complaints. I'm also using NinjaTrader so we're kind of on the same page.

TIA Sharon: thank you for your kind words... first off, I think you DO have the $ not to have a spread--because both types of accounts can be opened for the same $USD 400. In both account types you can use limit orders to tighten up the spread--it's just in the plan I'm on, I'll earn $1 per 100k and I can make the spread as tight as I want it. However, if I were to start placing a lot of stop limit or market orders then your plan would be better as the commissions would become cost prohibitive.

As I said in an earlier post, my gains, though consistent, are really small. Therefore, I need to eliminate all expenses whenever possible, so I want the best of both worlds: no commission AND no spread (if I want) PLUS getting paid on my volume, so I only place limit orders.


You mention you use 20 - 60 - 180 Range bars and I'm wondering if those bars are set up in NT for 1/10 of a pip. (Tools, Options, Data). I also use Range bars and had those type of bars (1/10) until yesterday when their Support helped me change the bars to just Pips so my Range Counter would be correct.

Common sense tells me you're using 1/10 Range bars so just making sure. I'm using 5, 8, 10, 20. Presently experimenting different strategy trading mostly off the 8Range. Previously had to input for 50, 100, 200Range.


Yes, Sharon, you are absolutely correct. I am using 1/10 pips, because I can trade 1/10 pips. My range counter has no problem with this. I use the 20-60-180 the way some traders use multiple time frames. The longer time frame gives me a directional bias (if the trend is strong) the shortest time frame gives me entries for scalping and the middle time frame is what I really trade.

So... say the 180 (or 18 in your case) says stay long, I would wait for the 60 to cycle to the long side and then I'll look at the 20 to time the entry, then dive in and try to hold on as long as I can stand it!

If for whatever reason, I only have one chart up, it'll be the 60 and I could take all the signals off that one. It just usually means I'll probably take some heat before the trade works in my favor. Hope this helps.

Reply With Quote
The following user says Thank You to mtaalamu for this post: