Best Thread Potential setups

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paulb

Junior member
24 5
could any of you guys give me some advice please
spread betting companies which one would you choose i already have an ig account was wondering what the thoughts on cmc or odl any any othere s that may be applicable
Hope we are not too off-topic here.

There were threads here on some of the companies though you might have to wade through a lot of stuff to find what you want. It partly depends what you want to trade, in what time frame. Most companies have a product sheet which you can download, giving a list of instruments traded, spreads, and opening hours. But that won't tell you what their minimum stop distance is, or how fast their execution is.

If you do any quick-in-and-out-trades - probably not wise for me to be mentioning this here! - then ODL is fairly fast. IG has a wide range of products and also trailing stops - I think it is the best all-round platform, and you can properly set a stop distance (i.e. so many points, rather than an actual price level) when you open a trade. ODL's system for setting a stop in advance was long-term bust when I last checked, but once you have opened a trade you can easily set one, so that is no problem for longer time-frames. And if you want to set it very tight you can, unlike some other companies. Ohterwise they are great, except for a narrower range of Forex than most other companies.

Main problem with CMC for me used to be that if you set a stop or limit it was set up an an independent trade, not a linked one, so that if you closed your trade manually you had to then go and separately close your stop and or limit. This was what made me close my account, along with a problem with several continuous requotes on oil while the price went against me - though to be fair their price feed had lagged behind on my old computer at a busy time, so it was probably inadvisable for me to trade at all at that time. That big lag happened a couple of times at busy news announcement times, though, which made the site unusable at those times. Interesting platform design though.

If price moves quite a bit, in general CMC used to requote, IG will give you whatever the price has moved to. ODL seem to honour the price that you actually clicked on more often. If it has moved a lot they will *all* say "price no longer valid".

ETrade, CapitalSpreads and Tradefair are all different versions of the same platform, if not all owned by the same company. The Tradefair platform is more user-friendly than CS in its layout, in my view. It works faster than CS used to a couple of years back when I last used it regularly - I used to get a lot of "price no longer valid" responses from CS when markets were moving fast.

If you are new, or tentative about trading on longer time-frames because of the bigger amounts of money involved, IG are good as you can trade Forex for as little as 50p per point, and gold for £1 per dollar movement instead of the usual £10 per dollar minimum.

I personally would not touch Finspreads with a bargepole. A couple of years back, Their site was virtually unsuable in the smaller screen resolution I used to have, and their tech people were very snotty about it - they just told me the majority of people used a bigger screen resolution. Other companies managed highly sophisticted stuff like scroll bars...... They also seemed to suspend fast-moving markets much more readily than any other firm I have dealt with.
 
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ilplusq

Member
88 21
Upcoming: EURUSD

The way I see it: price broke the Daily TL and opened the door to the upside. Where it may turn around:
- recent high of 1.3580 my be tested again, and there is confluence with 50% fib from December high. If it falls:
- the next big area marked yellow on the chart: 38.2 fib from major high in June 2008, which sits right on top of 1.3739 which was solid resistance in March and may hold again.
- just above it is 1.3882 - a strong weekly pivot, and there is confluence with 61% fib from Dec highs.

Chart: the dashed lines are levels which may become significant.
 

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2Tall

Member
63 22
As you will all know, I try to work out a game plan ahead of each day so I am fully prepared and have setups to focus on.

Here are the markets that I think are offering the best opportunities for tomorrow:

...

Good trading.

-Tom
Hey Tom, thanks for sharing. I must make more of a habit to actually write down what my plan of action is for the next day and week. Religiously sticking to a trading plan was a bit of a struggle when I started trading, but I am now much more obedient :LOL: to my trading plan. If I can get into the habit of making a daily action plan, I think things can only improve.

I must agree with previous posts about this having become a thread of identifying pin bars, rather than potential set-ups; and I am probably guilty of that too :whistling

I think there would be much more benefit to all frequenters of this thread if people started or finished their trading day by sharing some charts with their ideas of SRs and TLs and which ones they are looking closely at, just like you have done in your post (bbmac is very good at doing this too, cudos!!!).

As an inexperienced trader I always find it interesting to see where the experienced guys and gals here have drawn their lines, and then comparing them to my own. As has been said before, identifying a pin bar is simple, it's all down to where they appear.

I will try and get into the habit of writing up a daily plan and posting it here for others to give feedback or laugh at :p

Have a good weekend.

Later,

Chris
 

trader_dante

Veteren member
4,535 1,473
on usdjpy now. 30 min pin, also maybe likely becoming 1hr pin.
right on trendline support and at 50% retracement on the recent swing.
taking it. 30min pin is just 18 pips. potentially good r:r
30m?!

I'm short from the 2pm IB that broke lower.

Trying to get into this big daily H&S.

Not interested in Nicolas inverted one...

That might be to my detriment.
 

trader_dante

Veteren member
4,535 1,473
Who reckons Geitner has a spreadbetting account??
Everytime he talks, he moves the markets.
Every single time..........
spreadbetting is illegal in the US
if you don't know that then you have no business trading
;)
 
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trader_dante

Veteren member
4,535 1,473
The way I see it: price broke the Daily TL and opened the door to the upside. Where it may turn around:
- recent high of 1.3580 my be tested again, and there is confluence with 50% fib from December high. If it falls:
- the next big area marked yellow on the chart: 38.2 fib from major high in June 2008, which sits right on top of 1.3739 which was solid resistance in March and may hold again.
- just above it is 1.3882 - a strong weekly pivot, and there is confluence with 61% fib from Dec highs.

Chart: the dashed lines are levels which may become significant.
Nice clear chart with really good levels...good stuff dude.
 

2Tall

Member
63 22
The way I see it: price broke the Daily TL and opened the door to the upside. Where it may turn around:
- recent high of 1.3580 my be tested again, and there is confluence with 50% fib from December high. If it falls:
- the next big area marked yellow on the chart: 38.2 fib from major high in June 2008, which sits right on top of 1.3739 which was solid resistance in March and may hold again.
- just above it is 1.3882 - a strong weekly pivot, and there is confluence with 61% fib from Dec highs.

Chart: the dashed lines are levels which may become significant.
Hmm, you might want to double check some other charting tools. My SB charting tool and Pro Real Time do not show that spike around 23 December. My charts show that price broke the TL at the start of May.
 

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2Tall

Member
63 22
Hmm, you might want to double check some other charting tools. My SB charting tool and Pro Real Time do not show that spike around 23 December. My charts show that price broke the TL at the start of May.
DOHH!!!!!!!
I take all that back, I misread my own chart :eek: :eek: :eek: :eek:

You are absolutely right with your chart!!
 
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