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Realities of Forex Investment
tonicasert
#541 Posted : Friday, November 12, 2010 1:39:01 PM
Rank: Member

Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
Seems after the holiday lull, its a cable and EUR selloff. Not sure of direction, just pip-raiding few pips per trade.
teletalk
#542 Posted : Friday, November 12, 2010 1:43:48 PM
Rank: New-farer

Joined: 9/3/2010
Posts: 26
Location: Nairobi
Wazuanites,

Just want to say thanks for this thread tht ws started by one Ngaatu. As being a newbie in this kind of trading though ave heard about.

I thinking, for me will continue to read this thread and take net classes, to understand the fundamentals and everything for now before trying an managed account.
I could suggest that we have a link where at wazua for this trade.

Thanks ladies and gentlemen for sharing and teaching guys like us with no background/knowledge in trading.[/color]
hisah
#543 Posted : Friday, November 12, 2010 5:22:30 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
ProverB wrote:
hisah wrote:
@ProverB - I hope you sold the EURUSD. Its working like a charm this week.



ya. Didn't expect it to touch .3584 though...fortunately hadn't put an exit target.. haven't closed on the trade yet.. 115pips at the moment.
what ur forecast?


If Ireland comes running for help next week or anytime soon, I expect the euro to sharply sell-off in a similar way to the May Greek crisis scare. This should also spook the global equity markets
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
hisah
#544 Posted : Friday, November 12, 2010 8:38:01 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
If the AUDUSD closes today below 0.9813, that would increase a likelihood of a monthly reversal and increase aussie losses.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
hisah
#545 Posted : Tuesday, November 16, 2010 8:15:39 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Seems USDJPY has indeed reversed to bullish. I was expecting an attempt to run through the 15yr lows lowest level 79.75, before a reversal. But the monthly formation is now turning neutral from bearish,while the weekly is turning bullish. Long order triggered @83.05, stop @82.40 target @84.50. I still expect 85 to be a major barrier for now. But once broken, 89 is next. Depending on how it handles the next 3 days, I'll determine if its long term or just a few days trade. The $ index also needs to get back above 79 to start moving $ trades. Above 80 will see more strength in the $.
USDCAD has successfully defended parity. Above 1.0210 will turn it up aiming 1.04xx.
Finally if the EURUSD gets back to 1.3850-1.3900, I'll be looking for sell that bounce rally.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
ProverB
#546 Posted : Tuesday, November 16, 2010 9:50:44 AM
Rank: Veteran

Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
hisah wrote:

If Ireland comes running for help next week or anytime soon, I expect the euro to sharply sell-off in a similar way to the May Greek crisis scare. This should also spook the global equity markets


Progress on this front?
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
mlefu
#547 Posted : Tuesday, November 16, 2010 12:06:49 PM
Rank: Elder

Joined: 2/11/2007
Posts: 1,680
Location: nairobi
i have tried forex without anyformal training and lets say...DAMN...lost all my deposit in a flash....but thats a usual trend in business..

1:which are the most accurate indicators?
ngapat
#548 Posted : Tuesday, November 16, 2010 12:45:02 PM
Rank: Veteran

Joined: 12/11/2006
Posts: 930
what a rise by the pound. my profits wiped and a loss booked.
“Invest in yourself. Your career is the engine of your wealth.”
tonicasert
#549 Posted : Tuesday, November 16, 2010 7:30:17 PM
Rank: Member

Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
mlefu wrote:
i have tried forex without anyformal training and lets say...DAMN...lost all my deposit in a flash....but thats a usual trend in business..

1:which are the most accurate indicators?


Forex is tricky n needs alot of discipline and clear consience. I prefer using leading indicators, but there are days I also lose.

Try RSI (with a setting of 14), and Slow Stochastics (I have a 5,3,3 setting), and have a SMA 14 on the graph for the trend. The 2 former will give u turning points, and you can use on 5 mins, 15 mins, 30 mins, hourly or daily; and use the period depending on how short term or long term of a trader you are.

But importantly dont practise with your money, use demo.
The Merchant
#550 Posted : Tuesday, November 16, 2010 8:42:20 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
Euro Falls Sharply on Irish Bond Concerns, Further Losses Likely

The Euro fell sharply against the US Dollar and other major currencies amidst fresh turmoil within the European Monetary Union. In a situation reminiscent of troubles leading to the Euro Zone/IMF bailout of Greece, it seems that markets are playing a dangerous game of brinkmanship with sovereign debt markets and encouraging similar action for the debt-troubled Irish economy.

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