Best Thread FXCM Discussion

[timsk]

Hi OLdNoob,
Thanks for the link.

I'm struggling to follow the instructions as they don't appear to relate to version of the platform I have. That said, having read the notes, I don't think this is going to work for me as I'm wanting a Renko chart that updates live in real time. Unless the page you link to is out of date, or I've misunderstood what's written, I fear I'm out of luck: "The Renko chart view does not update new data in real time."
Tim.

 

[OLdNoob]

Hi OLdNoob,
Thanks for the link.

I'm struggling to follow the instructions as they don't appear to relate to version of the platform I have. That said, having read the notes, I don't think this is going to work for me as I'm wanting a Renko chart that updates live in real time. Unless the page you link to is out of date, or I've misunderstood what's written, I fear I'm out of luck: "The Renko chart view does not update new data in real time."
Tim.

click on charts then new marketscope then on the new window click file create view.

 

[timsk]

click on charts then new marketscope then on the new window click file create view.

Hi OLdNoob,
I don't know what I'm doing or not doing, but here's what I'm seeing . . .

 

[OLdNoob]

You are using the web app, not sure if the renko charts are available on that, download the trading station platform and all will be clear.

 

[OLdNoob]

Hi OLdNoob,
I don't know what I'm doing or not doing, but here's what I'm seeing . . .

View attachment 224256

nice short by the way

 

[OLdNoob]

this is what you end up with tim

 

[Jason Rogers]

this is what you end up with tim

Thanks for your help, OLdNoob

 

[Jason Rogers]

Hi Jason,
I've been using the MT4 platform to trade the Dax but am having all kinds of issues with my current broker. Namely, I use Renko charts which, as you probably know, don't come as standard with MT4 and have to by accessed using offline charts via an EA. For reasons that neither my broker or I can fathom, the Renko EA appears to be freezing the live trading platform. No problem with demo at all, but that's no use if I can't switch effortlessly to my live account. So . . .

I did some searching for platforms that have Renko charts as standard and your name - i.e. FXCM - kept cropping up. I've opened a FXCM demo account, but the charting options appear to be restricted to line, bar and candles. Hopefully, I'm just being stupid and you can point to the Renko option which is obvious to everyone else but me!

Cheers,
Tim.

Tim, please let me know if you have any additional questions for me after looking at the info OLdNoob has been kind enough to provide.

 

[timsk]

Tim, please let me know if you have any additional questions for me after looking at the info OLdNoob has been kind enough to provide.

Hi Jason,
Thanks for the response.

Yes, OLdNoob has been most helpful, he deserves FXCM's ambassador of the month award! Unfortunately, in spite of the many features and benefits of your platform, I think I'm right in saying that it doesn't offer what I want most of all: live - continuously updating - Renko (or Point & Figure) charts suitable for day trading. If I've got that wrong, please correct me and I'll look at the platform again in more detail. Otherwise, I'm afraid my search must continue elsewhere.

Cheers,
Tim.

PS. Jason - I see that MultiCharts offers the functionality that I'm looking for - but at a cost. I don't suppose by any chance that FXCM have some sort of deal similar to that offered by IG Index that allows their clients to trade through ProRealTime charts for free - so long as they make two round trips per month? (Otherwise the cost is £30.00 p/m.) I realise I can subscribe to MultiCharts and then use FXCM as my broker, but I'd rather not pay $99.00 p/m for the privilege - just to have access to Renko charts. Hope that makes sense!

 

[Jason Rogers]

Hi Jason,
Thanks for the response.

Yes, OLdNoob has been most helpful, he deserves FXCM's ambassador of the month award!

Unfortunately, in spite of the many features and benefits of your platform, I think I'm right in saying that it doesn't offer what I want most of all: live - continuously updating - Renko (or Point & Figure) charts suitable for day trading. If I've got that wrong, please correct me and I'll look at the platform again in more detail. Otherwise, I'm afraid my search must continue elsewhere.

Cheers,
Tim.

On Trading Station, the Renko Chart view is created by taking data from traditional candlestick charts. That means, the most frequently you can get the Renko bars to update is once per minute, since 1-minute candles (m1) are the shortest timeframe candles Trading Station supports.

PS. Jason - I see that MultiCharts offers the functionality that I'm looking for - but at a cost. I don't suppose by any chance that FXCM have some sort of deal similar to that offered by IG Index that allows their clients to trade through ProRealTime charts for free - so long as they make two round trips per month? (Otherwise the cost is £30.00 p/m.) I realise I can subscribe to MultiCharts and then use FXCM as my broker, but I'd rather not pay $99.00 p/m for the privilege - just to have access to Renko charts. Hope that makes sense!

The last I heard, MultiCharts offered a promotion whereby you could get free access to their MCFX Pro forex charts for free. I'm not sure if those charts provide the functionality you're after, or if MultiCharts still offers that free promotion. Here are the details I found on their site. You should be able to reach out to them there with questions about their platform.

 

[Jason Rogers]

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[timsk]

. . . You should be able to reach out to them there with questions about their platform.

Hi Jason,
Unfortunately, the offer does not apply to spread betting accounts and, as far as I can tell anyway, is restricted to the forex market. As I'm specifically wanting a spread betting account to trade the German Dax - I don't think I'm eligible.
Thanks all the same.
Tim.

 

[Jason Rogers]

As I'm specifically wanting a spread betting account to trade the German Dax - I don't think I'm eligible.

That's too bad, Tim

How about the Renko Chart view on Trading Station? You can set it to update every minute. Or are updates every tick essential to your strategy?

 

[timsk]

That's too bad, Tim

How about the Renko Chart view on Trading Station? You can set it to update every minute. Or are updates every tick essential to your strategy?

Hi Jason,
Yeah, I'm afraid I need a continuously updating Renko chart as I like to trade from the chart itself and, besides, the Dax can move a looooong way in one minute!

Here's a suggestion for you Jason. I accept that Renko charts are only going to appeal to a minority of traders. But having some sort of non time based charting approach would set you apart from most other brokers in your market. The obvious choice would be Point & Figure. Indeed, I would probably open an account with FXCM if they offered that - so long as it is good.

Look at the popularity of this thread: Trading with p/f. My prediction is that more and more traders will turn to non-time based trading, especially those who have tried 'conventional' bar and candlestick charts and found them wanting. In a bid to stay one step ahead of your competitors, I suggest this is well worth investigating. Just a thought.
Tim.

 

[kalott]

Hi Jason,
Yeah, I'm afraid I need a continuously updating Renko chart as I like to trade from the chart itself and, besides, the Dax can move a looooong way in one minute!

Here's a suggestion for you Jason. I accept that Renko charts are only going to appeal to a minority of traders. But having some sort of non time based charting approach would set you apart from most other brokers in your market. The obvious choice would be Point & Figure. Indeed, I would probably open an account with FXCM if they offered that - so long as it is good.

Look at the popularity of this thread: Trading with p/f. My prediction is that more and more traders will turn to non-time based trading, especially those who have tried 'conventional' bar and candlestick charts and found them wanting. In a bid to stay one step ahead of your competitors, I suggest this is well worth investigating. Just a thought.
Tim.

some use range bars http://ninjatrader.com/support/forum/showthread.php?t=68025

 

[Jason Rogers]

I will be out of the office from now until Tuesday, May 24th and will respond to your posts and private messages when I return.

 

[OLdNoob]

Jason,

Reinstalled trading station today and I cant remember how to merge the marketscope window into the main trading station window, can you help?

Thanks

 

[Jason Rogers]

Jason,

Reinstalled trading station today and I cant remember how to merge the marketscope window into the main trading station window, can you help?

Thanks

Yes OLdNoob, it's still possible to open charts inside the main Trading Station window, but in order to do so, you must change your charting options.

Go to System > Options > Marketscope 2.0 > General Options and change the Create Chart Logic to Trading Station window.

 

[OLdNoob]

Jason

Thanks for the info, I'm sure others will find it useful as well.

I have another one for you.

I am trying to connect my account to the publishers offered by myfxbook and fxblue but have been unable to do so.

I am aware that this is only possible on standard accounts as the api has been switched off on the micro accounts and switched my account over for this very purpose.

Both publishers come up with a wrong username/password error which is what I started getting when the api was first switched off on the micro accounts.

I have been in contact with Rikki Varshney at client services who confirmed that the api is switched on however I emailed him 3 days ago asking him to look into this for me and I am yet to receive a reply! A courtesy email to say that he is looking into it and will keep me updated would have gone a long way.

I hope you are able to help me with this issue.

OLdNoob

 

[Jason Rogers]

Jason

Thanks for the info, I'm sure others will find it useful as well.

I have another one for you.

I am trying to connect my account to the publishers offered by myfxbook and fxblue but have been unable to do so.

I am aware that this is only possible on standard accounts as the api has been switched off on the micro accounts and switched my account over for this very purpose.

Both publishers come up with a wrong username/password error which is what I started getting when the api was first switched off on the micro accounts.

I have been in contact with Rikki Varshney at client services who confirmed that the api is switched on however I emailed him 3 days ago asking him to look into this for me and I am yet to receive a reply! A courtesy email to say that he is looking into it and will keep me updated would have gone a long way.

I hope you are able to help me with this issue.

OLdNoob

I reached out to Rikki and he will follow up with you via email today.