Monday Rewind

I did initially have some worries about trading on Monday as prior to 6.30 AM there was precious little movement and GBPUSD was looking particularly ugly. A couple of strong sell candles formed and a trade signalled on TUFXP and not for the first time lately, a discrepancy was found between different users of TUFXP. My stochs, whilst heading down, were still okay for an entry but for another user the stochs were well over the oversold line. It is a little worrying how different the data can be at times but at least we got the same signal this time!

1.5000 was also a major concern and when it bounced to 1.5027 I thought my goose was cooked but thankfully strong selling pressure won out and a nice victory was gained and I also managed to hang onto it for +33.

I’ve always questioned the wisdom of TUFXP employing a sole company to providing a data feed and they swear blind they do not receieve any commissions off IQFeed which I find extremely difficult to believe. Why is it the likes of Fxpro, FXDD, Alpari, OANDA can all provide excellent feeds for no cost yet IQFeed charge over $88 a month for a sub-standard service that regularly drops out which in turn affects the outcomes of PTPs.

A friend in the trading room, Mike, mentioned you can request to pay 12 months upfront and you can receive 50% discount on your subscription. Thanks for that Mike!

I hope everyone enjoyed Graham’s first post, he’s still having a few problems logging onto the blog but I’m sure he’ll get around the technology soon 😉

Onwards and upwards..

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    • Lisa
    • July 13th, 2010

    Thought i’d let you know. I tried IQ feed for that 50% discount and they denied all knowledge of such a discount! They stated that they only give a 20% discount on a years payment up front. I suspect that the 50% discount is only available for the lucky few! Unfortunately that’s not me.

    • Matt
    • July 13th, 2010

    Hi John,

    Interesting trade. In my method I try to wait for a pullback (which doesn’t always occur I know) after a signal like that. My system (non TUFXP) had a valid entry just after, which I wasn’t around for, but it was down by the 1.5000 range then, so wouldn’t have taken anyway 🙂

    I still bulk when hearing of those IQFEED costs. How is your EA coming along, as surely you’d be better just trading the indicators if you have them via MT4?

    Cheers,
    Matt

    • Hi Matt,

      The EA is/will be a long process, the programmer is currently away on hol so is temporarily on hold until he’s back.

      We’re looking at delivering signals to MT4 and also a desktop app.

      How’s trading going?

    • Matt
    • July 13th, 2010

    Slow at the moment mate. I try to wait for high-probability setups (as best I can), but that means few and far between entry signals – especially if I’m not around.

    Interesting plan with EA. I’d imagined you’d just be packaging up something into an indicator or two, or wrap it all in an EA.

    • Ollie
    • July 13th, 2010

    I can’t believe that the IQ feed is the best charting software available for TUFXP. It seems quite slow and is certainly more expensive than the other providers (most of which are free). If I knew the logic behind the PTPs then I would ditch the IQ feed straight away. It seems strange that ATM-FX which is produced by the same people as TUFXP, uses IG charting software. I’m sure there must be commission involved for TUFXP to use such a poor and expensive service.

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