Forex Journey from $500 real acct...

[ag_fx]

Is there an emphasis on the exact price? Thats new for me. I thought it was abt the close in comparison to the high and low plus the volume. And pip or 2 diff in close as compared , remember compared, doesnt matter a zilch. So, that solves first part on VSA.

The volume part as I pointed out is abt sampling. Yes, there are no central exchanges to collate and provide the exact up and down activites. But sure individual brokers volumes are enough as representation.

I can sum my point with this saying "Boond Boond se hi samandar bharta hain".

So what do you call the closing price/high/low, if not exact price? I guess we all would accept the fact here that with different brokers, your prices would be different for sure. As I said, seconded by you, small differences of a couple of pip doesnt matter.....AS LONG AS YOU CAN MAKE MONEY FROM IT.

Now for the volume part of the VSA. The VSA uses different phases(Accumulation/Distribution/Continuation) with the volume and price data. It is often the case that several phases are not clear. That is, sometimes it looks like Accumulation, whereas it ends up being a continuation(or whatever is the term for it). Thus, with the available volume with your broker, what might seem one phase to you,might(just MIGHT) become another phase on another platform. VSA uses the concept of relative volume when coming to conclusions of the price action depiction.

For me, that is a pile of assumptions and sampling to be done in order to make a decision and may be dats why I dont trade VSA :lol: :thumb:

In the end..."What matters is, if you can make money from it....If You can...who the hell cares"


You are right when you say that every drop fills the ocean. But, can you ever measure the VOLUME of the entire OCEAN???? I dont think so. You can sample the one near your coast and several other coasts and make predictions of the effects....Successful predictions==MONEY...So "ALL IS WELL" as long as you can make money

 

[ag_fx]

Ok....lets imagine there is a core system (like Reuter or HP server) which conduct all of the forex transactions and could provide real time volume data. Are you sure you will make profit from it. There are tons of methods of manipulating data and pro traders know that. In the stock market you have volume but how many traders use it in their analysis. I see none in the forums of traderji. We trade to make profits not to become perfect traders. Why do you think you need to know the whole market, if the flow is one way just swim along. Unlike bonds and IPOs, dealers' operations is important in this market because its regular and sets the majority of moves....a latest example year end book building is going on and Euro/GBP is down because of home currency movement and profit booking by big banks. Big orders set big moves. I have already wrote that what you are saying is true so no hard feelings at all Ankit.....just I have some time these days to write and explain things here. Happy holidays!

Ahh....No...Did I say I need the entire volume data to trade? I dont think so...I dont trade FX on volumes anyways

Now, coming to manipulation of volume data by Pros...Well, with Forex, that is certainly possible, but with Exchange listed assets, Its IMPOSSIBLE. The PROS cant manipulate the core data, they can only leave traces which leads to wrong interpretation of the data by novices. And I say this from personal exp of trading one of the most liquid markets of the world(not forex). So lets just cut short this discussion of manipulation by the Pros.

In the end it all boils down to what we both...and perhaps everyone around agrees here....CAN YOU MAKE MONEY OUT OF IT???? If you can...:clapping: People like me who cant, employ different methods.

My argument was only this: Since FX doesnt have a centralized volume data, it is not entirely reliable for ME.

Should have added "ME" in the first post perhaps. :lol:

I rest my case here....Closed for me

Happy Holidays everyone....And may the New Year bring lots of joy and success in your life.

Best Regards

Ankit

 

[sushant079]

In registering yourself online, the delay is only in the time it takes you to fund your account. Your online application form is submitted as soon as you complete it online and then you are asked for some identity proof documents. They will ask for your passport and one other form of identity proof.
After they receive your scanned/faxed documents, they will review your account and if approved, your account will be ready to be funded.
Oanda can be funded via paypal or a bank wire transfer for indians. Paypal funding doesnt take more than a day if you already have an account, whereas a Bank wire might take 3-4 days before the money reaches to your trading account.

Once your account is funded, it is ready to trade :thumb:

Hii ankit...
i just Registered myself with Fxtrade...
and as u said there are two ways for fund transfer..wire transfer and paypal
as paypal needs credit card..(wch i dont have,as i am student)
but i do have hdfc bank account,so can i tranfer funds thorugh it..
....please elaborate about it!

 

[niksos]

sushant,
find out the account details of the FXtrade... then go to ur bank(any bank is fine) give the bank details of the FXtrade and the amount to be transferred.. it will take 3 to 4 days for transfer and ur bank will charge u a fee...
Happy trading,
Nik.

 

[sushant079]

sushant,
find out the account details of the FXtrade... then go to ur bank(any bank is fine) give the bank details of the FXtrade and the amount to be transferred.. it will take 3 to 4 days for transfer and ur bank will charge u a fee...
Happy trading,
Nik.

well thanks a ton for that!

is that called wire transfer??
i thought i could do it from my online banking services..
anyway thanks alot!

 

[niksos]

for international wire transfers u have to go to ur bank.. atleast for the first time... and make sure the account is on ur name and it matches with the name u have registered with the forex broker..
I have a hdfc account
Nik.

 

[niksos]

Ya that is called a wire transfer
and does fxtrade operate with a dealing desk???

Nik.

 

[sushant079]

Ya that is called a wire transfer
and does fxtrade operate with a dealing desk???

Nik.

yes they have,i think so...
as they are market makers...

 

[AdaG]

Ahh....No...Did I say I need the entire volume data to trade? I dont think so...I dont trade FX on volumes anyways

Now, coming to manipulation of volume data by Pros...Well, with Forex, that is certainly possible, but with Exchange listed assets, Its IMPOSSIBLE. The PROS cant manipulate the core data, they can only leave traces which leads to wrong interpretation of the data by novices. And I say this from personal exp of trading one of the most liquid markets of the world(not forex). So lets just cut short this discussion of manipulation by the Pros.

I rest my case here....Closed for me

Happy Holidays everyone....And may the New Year bring lots of joy and success in your life.

Best Regards

Ankit

If it is not reliable to one person it could be unreliable for everyone if proven logically,

Do you really think exchange listed markets can not be manipulated. I think Nirmal kotecha and owner of Pyramid saimira are still under strains by SEBI. Last year many companies and commodities were banned from trading. GS do it all the time and last month that Sri Lankan guy did it. Be it exchange traded, IPO, commods or OTC, manipulations happen everywhere. I wonder on how easily you can use the word IMPOSSIBLE, being impossible is a perfect activity.

And can I know which super liquid market are you talking about (I have some idea but its not for retail participation, but who knows).

 

[ag_fx]

Ya that is called a wire transfer
and does fxtrade operate with a dealing desk???

Nik.

No...Fxtrade doesnt have a dealing desk, but an inbuilt order matching system.Basically, the work of dealers is done by their software.

yes they have,i think so...
as they are market makers...

Sushant, almost all your questions were answered by Nikos. I hope the process is clear to you now.

And can I know which super liquid market are you talking about (I have some idea but its not for retail participation, but who knows).

Lets spare the public forum from further details For reasons obvious. :thumb: I am running short with time...But this discussion is due on me for sure... Till then..Have a great trading time.

Regards
Ankit