FOREX PRO Weekly June 20 - 24, 2011

[Adam Wyn-Roberts]

Still difficulty with spot vs future

Dear Sive,

My charts on hotforex show a close of 1.4305 friday, and you have 1.4276 on the futures (right?)

Is it safe to say there is a difference of about 30 pips now between your analysis of this week and my spot chart?

regards,

Adam Wyn-Roberts

 

[Sive Morten]

Dear Sive,

My charts on hotforex show a close of 1.4305 friday, and you have 1.4276 on the futures (right?)

Is it safe to say there is a difference of about 30 pips now between your analysis of this week and my spot chart?

regards,

Adam Wyn-Roberts

Hi Adam,
the only way to solve this problem - do the same, and you will get your quotes for spot FX. You see what I draw - fib levels, extensions, pivots, right?
Draw the same, and all will be fine.

 

[CheeLee]

Hi Sive,

Thank you very much!

Cheers,
Chee Lee

 

[mjunkyard]

Educational Question

Hi Dear Sive;
As a loyal follower of your education, i would like to ask a question pertaining to our new trading plan.
If there is a high probability of a move down (stop grabber etc. etc.), why do you suggest that after the price hits the somewhat confluence area of 1.4327-28 we wait for the price to go under the weekly pivot point at 1.4257 (approx. 70 pips lower), why wouldn't we do like we usually like doing that after we see a reversal pattern we sell and then we move to b/e so if the direction is really bearish we're in at a much higher price?
sincerely
mjunkyard

 

[Hamedfxpeace]

Different quotes!!

Dear Sive

I learn a lot from your invaluable analysis specially in cases you explain the technical rationale as well. Sometimes I listen to your videos several times to make sure I got the all points you explained.

I have a questions. where you get the quotes? sometimes like this week the prices are different. I was short with SL of 1.4338 and it already hit on Friday, while your high is 4306!! after a reversal it closed at 1.4306.

How can I employ your analysis when your suggestion is waiting for 1.4338-9 and it is already done in my platform. I have several accounts and all are same, different with yours..

The different timing also makes different candles, not match with your analysis sometimes.

Thank you for your attention.

Cheers

 

[Joshnix]

Macdp

Sive,
I have taken a spreadsheet I found and come up with an algorithm for a MACD Predictor. I had some help programming it for my platform, but since this algorithm can be found by anyone am I allowed to post it here? If not for those people out there you an google "spreadsheet price that MACD crosses" to find an excel sheet out there. It was not hard to write the equations out and program it.

 

[Geert Anthonis]

They make a valid point

Often I wondered where your highs and lows came from. It is only now i realize that following your data actually landed me in trouble (as metioned before), because the difference between the Spot price quotes we mere mortals use and the future prices you use. As a lot of the other followers here I would like to ask that you point out clearly you are using future contract prices and maybe also let us in on how big the pip difference between your quotes and the spot market are likely to be. After all I do not believe that the difference is a constant number of pips, as some point out +30 to 40 pips above the price you use, but varies with market conditions.

Once can calculate this into their own trading plan I am sure we all can make money, because I must say that more often than not you are right.

Thank you in advance.

 

[yousuf]

Hi

Hey sive, this is my first time replying to your daily and weekly education, but i was just wondering, with this whole issue of trading the spot or the futures.

If i open a trade with my broker on the spot market the price is higher by a 40 pips, but the spread is 1 pip.

If i open a trade with my broker on the futures market the price is the same as yours but the spread is 11 pips. Do you face the same problem? and if you do im assuming you dont mind paying the extra spread for your own reasons?

Thanks

Yousuf.

 

[Sive Morten]

Hi Dear Sive;
As a loyal follower of your education, i would like to ask a question pertaining to our new trading plan.
If there is a high probability of a move down (stop grabber etc. etc.), why do you suggest that after the price hits the somewhat confluence area of 1.4327-28 we wait for the price to go under the weekly pivot point at 1.4257 (approx. 70 pips lower), why wouldn't we do like we usually like doing that after we see a reversal pattern we sell and then we move to b/e so if the direction is really bearish we're in at a much higher price?
sincerely
mjunkyard

Hi Mjunkyard,
Your approach is also acceptable. I've told about pivot, just because it gives us more confidence, that market is really bearish. But enter at some reversal pattern at 1.4330 is OK also.

Dear Sive

I learn a lot from your invaluable analysis specially in cases you explain the technical rationale as well. Sometimes I listen to your videos several times to make sure I got the all points you explained.

I have a questions. where you get the quotes? sometimes like this week the prices are different. I was short with SL of 1.4338 and it already hit on Friday, while your high is 4306!! after a reversal it closed at 1.4306.

How can I employ your analysis when your suggestion is waiting for 1.4338-9 and it is already done in my platform. I have several accounts and all are same, different with yours..

The different timing also makes different candles, not match with your analysis sometimes.

Thank you for your attention.

Cheers

Often I wondered where your highs and lows came from. It is only now i realize that following your data actually landed me in trouble (as metioned before), because the difference between the Spot price quotes we mere mortals use and the future prices you use. As a lot of the other followers here I would like to ask that you point out clearly you are using future contract prices and maybe also let us in on how big the pip difference between your quotes and the spot market are likely to be. After all I do not believe that the difference is a constant number of pips, as some point out +30 to 40 pips above the price you use, but varies with market conditions.

Once can calculate this into their own trading plan I am sure we all can make money, because I must say that more often than not you are right.

Thank you in advance.

Guys, there is very simple solution to this problem - draw the same that I do, and look at your own quotes. You'll get the right numbers.

Hey sive, this is my first time replying to your daily and weekly education, but i was just wondering, with this whole issue of trading the spot or the futures.

If i open a trade with my broker on the spot market the price is higher by a 40 pips, but the spread is 1 pip.

If i open a trade with my broker on the futures market the price is the same as yours but the spread is 11 pips. Do you face the same problem? and if you do im assuming you dont mind paying the extra spread for your own reasons?

Thanks

Yousuf.

Hi Yousuf. I have 0.5 pip spread on EUR/USD Futures. The point is that in realilty you do not trade futures, because your broker has no account on CME. Or, there is a long chain of subbrokers ahead of you. Read Forex Military School - part that dedicated to comparison Futures and Forex markets and you'll understand...

Sive,
I have taken a spreadsheet I found and come up with an algorithm for a MACD Predictor. I had some help programming it for my platform, but since this algorithm can be found by anyone am I allowed to post it here? If not for those people out there you an google "spreadsheet price that MACD crosses" to find an excel sheet out there. It was not hard to write the equations out and program it.

No, that is not permitted, because MACDP is a law-protected indicator by Joe DiNapoli.
Besides, there are a lot of thin tuning and nuances, that could be linked, say, with the way how broker's software count candles etc. That's why it could not work absoulutely right, even if we suggest that you have a correct formula.

 

[nicolebobbin]

Hi Sive, I don't see you post daily update around this time anymore