I am looking at the currency pairs and remember that in one of the systems you added 2 or 3 ticks for entry if you are going long but not if you entering for going short. With the new spike striker and doing entries using the stop trigger do we have to adjust our entry to account for the difference in indicatives when trading forex? I have been watching a couple pairs tonight and noticed there is some times 3 ticks difference between the charts current price and the nadex indicative, I also tried the clarity price and that seemed to gain some separation when the instrument moved in one direction but stayed close when it moved the other, and it seemed to vary slightly between the different pairs. BTW i love the new spike striker, great job !!!
Forex indicative with new spike striker
After trading SS is demo this is what I found. When going long the Nadex indicative is higher then the Chart indicative (on the currency pairs). In one trade instance the stop trigger would have put me in a trade when the chart never made it to the point of entry. When going short it takes a couple extra ticks to get entry. in a couple cases the chart signaled an entry and the stop trigger didn’t hit the price to enter, thus the trade was never entered. This actually was a good thing as each of those trades retraced and would of potentially been bad trades, not sure of the actual out come of each as I didn’t follow them for long before I was on to the next trade. I am thinking I want to look at the difference between the Nadex indicative and the chart price. for going long I would add the difference to the entry mark quoted by SS in NT. When going short I did not add nor subtract anything from the stated entry and just rode out the extra couple ticks to get into the trade. I did add 2 to the stop trigger for my stop loss as to avoid being stopped out early. After thinking about it I don’t think that is a good idea as the final price is based on the Nadex indicative and could end up loosing me more on a bad trade. This is what I found and came up with, hopefully I am some what on the right track here, please let me know. Also just to be clear to every one this is only for the forex currency pairs and not any other instrument. Thanks
Nadex updated the indicative on forex to be the last 25 mid prices average of middle 15 (they dropped the requirement for non-sequential quotes) so this is not an issue any longer to the extent it was. However, They are still using mid price and you are looking at the last price on your chart. You can Look at the difference and it should remain constant most the time to allow you to know what to use iue 1, 2, 3 ticks etc… You could also choose to manually enter and use the Clarity price indicator. (there are 2 settings one that helps simulate the mid price on forex as well that you can use for visual confirmation)