Hi Capian!

I'm not a programmer so I donth think I can help you there, but I am sure there
are many EA's made based on the RSI, just search the TSD forum or Google..
If you donth find it? then make a request at the TSD forum, someone will certainly help you

Have a great day!
Halvard

Hi Vahid,
The first I heard or your future Brokerage was when I just read it in Michael's post.
I will certainly be interested, although there may be some problems in transferring of funds from Aus to US and back.

I would not be ready to change just yet but in a few months I would think I would be.
How long before you would be starting your brokerage?
What will you base your platform on? The MT4?
As you know I trade the one minute charts so spread is most important to me, that is why Go Markets are good for me as their average spread on the EURUSD is around 1.5
But what has always worried me is that as I progress in lot size my s/l may tend to get hit more. I run it as close as 5 pips to the price at times. I haven't seen it happen yet, but when lot size increases I will be watching closely.
That is why I ask what platform you will base yours on and what the spreads may be.

Cheers
Ian

Hi Ian,

It will take us 1-2 months to launch the brokerage on Forexoma. We will have a competitive spread and 100:1 leverage.

Our platform will be MT4 which is my own favoriate platform.

We will not have a dealing desk. So your orders, including TP and SL will be placed directly to the market. There is nothing to worry because nothing will change the spread but the market condition and hours. Our order will be executed faster than many other traders who have a dealing desk.

Regarding transferring money from Australia to US and visa versa, it can not be any problem. We can receive the funds through SWIFT in less than 24 hours and it will be the same for you to receive your money from us. We will have some other facilities like PayPal too.

Sounds good Vahid will look forward to it.

Hi again Vahid,
I have a system problem that I hope you may be able to help me with. I remember you said that you once traded the 1m charts as I do and you may have run into the same problem.
I have attached two charts one 15 May and the other yesterday.
The red vertical lines are losing trades.

As you know my system is based on reversal trades when the RSI goes oversold/bought
The problem I have is as you can see on yesterdays chert when the market is trending strongly it is possible to get 3 losing trades in a row.
Although this is the first time it has happened in over 400 trades it has always been something that has concerned me.
I am trying to work out a filter that can eliminate these losses. Or at least some of them
They are the ones that are always when the 1m is trending strongly
On yesterdays chart the rsi is trending with the price where as on the 15 May it is showing convergence, so I'm thinking that this may be some sort of filter.
The thing is though I do use divergence/convergence on higher highs, lower lows, and double top/bottoms but only those that are reasonably close together.
Otherwise it is just a straight reversal trade as shown by the white eclipse on the yesterday chart.
I have tried looking at the 5m and 15m charts for some guidance but that doesn't seem to help.
Any feed back would be welcome

Cheers
Ian

Hi Ian,

If you have such a high success rate and only three losses come out of 400, then you should not be worried about anything and your system is great.

If you have more losing trades and you are not reasonably and consistently profitable, then you should change your method.

Yes, I traded 1min chart but let me tell you how.

I had 5min and 1min chart on the same screen, side by side. I used the 1min chart for the entry signal to follow the 5min chart direction. Reversal signals have much higher false trade setups, whereas continuations are better.

When there is a trend on 5min chart, you wait for a continuation signal on the 1min chart. This continuation signal can be a support/resistance breakout.

This is how I was used to trade. Please let me know if you like me to explain more.

Hi Jim, nice to see you here again

Hi Vahid. Fantastic news about the upcoming brokerage launch. You can count me in on opening an account with you

Hi Jim,

Thank you my dear friend. I always know that I am supported by you. There is no doubt about it. You can also count on me. I will do my best to give you the best possible facilities for your account.

Thank you for your help Vahid, I understand completely what you are saying.
My system is quite different in that I use the reversal as a starting point which then leads to the continuation, if that makes sense.
I too run the 1 min chart on one screen and flick back and forth on the other screen between the 5 and 15 min charts to get direction.

I actually worded my first post a little wrong. What I meant was that this is the first time that I have seen -- 3 losses in a row -- in 400 trades and or back testing.
I was lucky that I only took one full loss on those three as the first one I was weary of and had a very tight s/l and the third one was out of my tested trading hours.
What actually concerns me is the market conditions we have had in the last 3-4 months and that if the market changes will the one minute trading system need to be altered.
My thinking is this --- The 1 min is small enough that even if we have a long trending market on the 1h, 4h, daily it still shouldn't matter to the 1 min chart as it constantly worms it's way along, and maybe the s/l size may need a to be changed to suit the conditions.
Do you agree with that???

Cheers
Ian

Hi All,

My GBPAUD trade was triggered right to the pip at 14:43 CET and never went above 1.7313.

Was anyone else's buy order triggered?

Regards,
aquiagora

I was not entered. 6 pips away. You need to adjust price for your brokers spread and quotes.

I did not allow for that - I see with the broker I have the spread is generally 8-9 pips.
A costly oversight. The same thing happened on the EURJPY trade where the spread is only 3 pips but maybe the spread widened.

Yes I agree. With 1min you can go against many of the bigger time frames.

Thanks Vahid

EUR/USD traded within a 95 pip range yesterday and today it's trading in about a 75 pip range. Which way is it going to go and when is it going happen? Any ideas out there?

Just my thoughts Bill.
It's ranging at the top of a rise in what looks like a cont flag but the longer it stays in that flag the more chance it has of losing any upward movement and reversing.
Its also struggling to break the res point set @ 9:00 on 20-7 FX time, which is now today's daily R1 pivot point of 1.3031.
RSI and MACD are both showing divergence, not that that means a lot when it's ranging -but- MACD has just poked it's head on the lower side of zero (on the 1 hr chart).
If I was looking long I would take a descent b/o candle, If I was looking short I would wait for a b/o, then retest then take the short.
Cheers
Ian

Some brokers increase the spread suddenly and then make it back to where it was. As far as I have learned so far, it is not possible for the EURJPY spread to go up from 3 to 14 suddenly and in a few seconds it goes back to 3, while there is no news and the market is under the normal condition.

Hopefully, forexoma will provide the best spread for its clients. We are testing our connection to the liquidity providers. We can have the below spread +90% of the time and when they go up, they can just go up for 0.5 to 1 pip maximum. Having stable and solid spread is something that we will guarantee, because we want to make money when our clients make money. We do not want to make money from their losses:

EURUSD 1
GBPUSD 1.5
USDCHF 1.5
USDJPY 1.1

EURJPY 1.3
GBPJPY 2.8

USDCAD 2.3

AUDUSD 1.5
NZDUSD 2.3

EURGBP 2

At the beginning we will support over 30 currency pairs.

Vahid, will there be any commision on the trades?

Hello Vahid, will you be offering rebates with your service??