Sydney Kris' Journal

[KrisL]

I had a PO set and ready to go on the Aussie, which was eventually triggered towards the end of the day, and moved quickly. I manged this trade using Grant's advice of switching to M1 (I took my entries on M5 and M15) once a BDC appeared on M5 and trailing AIMS levels. I found this to be a great way of managing the trade - no stress about giving up profits, as well as being an objective, simple and repeatable method for taking profits. If one of the keys to success in this game is consistency, I think this exit strategy is a fantastic tool to have in the arsenal.

2014_01_24 au.png

[KrisL]

UJ also presented an opportunity this afternoon. I added on aggressively in the early stages of the trend, and got each position to free trade status as the move unfolded. When the BDC appeared, I started trailing M1 AIMS levels. Since I had three open positions, I trailed the most recent position at the most recent M1 AIMS level, the second most recent position at the second highest M1 AIMS level etc. I felt that this was a nice compromise between locking in some profit and giving the trend a chance to go again. I was watching for divergence on M5; if I'd seen that I would have tightened all stops.

Finally, the last position you can see is an M15 seed, for which I paid a full rent. Still, I believe it was worth a try. Including the rent, these UJ trades netted me 0.75%.

One small afterthought - note the appearance of the BDC at the top of the uptrend. It appeared after double divergence on the AO with a degree of price angulation, and may have been the perfect entry for this move.

2014_01_24 uj.png

[Nikita]

What an amazing Aussie catch! (wd)
Well done!!

[KrisL]

I also caught the latter part of the UJ move on Friday night. My first entry was on a BDC with good price angulation, and I added on based on M5 signals (the chart below is M15).

2014_01_24 uj 2.png

[Darren]

:-bd (wd) :-bd

[KrisL]

Hi everyone. I haven't been trading much lately due to some broker issues. I thought I would briefly describe my experience for everyone.

I have been trading with Dukascopy, who I have been quite happy with. However, instead of MT4, they use their own trading platform called JForex. In order to trade with MT4 (and use the AIMS indicators and templates), you need to use the services of a third party who provides a bridge between MT4 and your Dukascopy account. This all seemed a bit hard, but I persevered due to the low commissions offered by Dukascopy. The bridge is provided by a company called Fair Trading Technology.

Things were going OK for a while, until last week the bridge lost its data feed from Dukascopy two days in a row. The first day wasn't a problem, but on the second day I had some trades open when it happened. Even that I didn't think was a bid deal - I could just manage them on JForex. So I fired up JForex, and in the 5 or so minutes between the data feed going down and me getting JForex running, my trades had gone against me. Shouldn't be a problem, as I always use stop losses when I place a trade. Only in this case, the stops hadn't come across to Dukascopy and I suffered a bit of blow to the account. I DEFINITELY placed my stops, I have the trade logs from the bridge to prove it, however Fair Trading Technology simply said that it was not their issue, the problem was with Dukascopy. Of course, Dukascopy relinquish all responsibility if you use a third party's platform.

Anyway, given that Fair Trading Technology wouldn't take responsibility for the service they provide, I had them disconnect my account, and I have been hunting for a new broker. I've settled on these guys for now (just trialling with a small amount of cash) - http://www.forextime.com/ - as their commissions are very competitive and the service has been good so far. Anyone have any experience with them?

[Darren]

Hi Kris,

So sorry to hear about your broker problems and your lost funds, I have had my fill of problems in the past with various brokers as well! I haven't used that broker you mentioned, but I am using Axitrader that has been good to me so far. I am also opening an account with Global Prime as they are getting rave reviews on various forums.

Cheers!

[KrisL]

Howdy Darren, and thanks for the reply! I've been looking into Global Prime too - I must have read some of the same reviews that you did. I'll open a demo with them and take a look. I've also opened an account with IC Markets, and their spreads are incredible. EU has been fluctuating between 0 and 0.3 pretty much all night!

I've also emailed a sales guy at FXTM asking if he can do anything to compete with ICM's tight spreads. He's going to come back to me in the next 24 hours. I'll post up his reply here.

Would love to hear who other people use and any good, bad or ugly experiences!

[Nikita]

Sorry to hear that, Kris.
But im sure you ll recover from your fall very quickly!
It s not your fault, so - you ll manage to take your money from market!

[immy]

Kris,
Sorry to hear that buddy. You're not the first one though. This bridge thing happend to alot of people. I don't if this is going to help but I know it happened. Anyways hope you recover your lost funds soons using the exquisite strategy that YOU have!

Have you tried Pepperstone? I use it!

cheers