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Realities of Forex Investment
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qw25041985
#571 Posted : Saturday, January 01, 2011 5:07:31 PM
Rank: User

Joined: 5/9/2010
Posts: 1,418
Location: Nai
Hi all. Lovely NewYear all my fx traders. Now for the first few days of 2011 . a trend will be set for both the stock indexes (read s&p 500) and fx market.Big money went on holiday but still s&p 500 managed to rally for the better half of dec (2010) pullin w/ it commodities currencies.I believe a correction is about to take place on the s&p 500 i use it as my primary guage in trading the dollar). its terribly over-bought and was rising on low volume .Why do i care so much about s&p 500 because its the perfect gauge of where the aud/usd is headed.My favourite pair.
eur/usd will come tumbling down once the dollar start gaining strength.The impending correction will continue for a number of weeks and this shld give a good trend to make allot of money.Even if it remain range bound the bias is downwards.
With the poor forecast of the gbp economy i am short gbp/usd and long usd airs.Cable is forming a very nice head and shoulder formation on daily chart and that shld yeild a healthy amount of pips once its validated and starts going down.
I hope all of you didnt sleep in Dec because aud and nzd really rallied because of the RISK IN ON message given by the successfull Santa clause rally on the s&p 500 this dec 2010.

Happy Trading 2011
Your future depends on your dreams so go to sleep !
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fxtech
#572 Posted : Saturday, January 01, 2011 8:01:51 PM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
@Hisah hope u dint maintain the bullish USDCHF &USDJPY trades for long coz I'm sure you saw the bear moves. Moving into 2011, im sure going long on the pairs will be a good bet. AUDUSD &AUDCAD we watching for bearish signs after crazy bull trends. we say the pairs water down Head & Shoulder formations on the daily charts, im sure many got caught in this.

@Morey what strategy do u use, u seem to have followed the choppy movements nicely and ur strategy looks efficient.

@Vestor yah u can start with 50k bt ensure you use small volumes and a very efficient trading strategy to avoid being wipped out.

@Kasheshe I would say u can start with the EURUSD and the Cable, bt in the later wathch out for some crazy whipsaws, they can easily hit u hard even though u analysed the markets right.
Discipline & sticking to your strategy even when you loosing defines great traders.
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fxtech
#573 Posted : Tuesday, January 04, 2011 6:56:43 AM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
Tue 4th @6.30 AM, I'm short NZDUSD @0.7745 TP

0.7700 SL 0.7845 Short AUDCAD @1.0057 TP 1.0000 SL

1.0160. Long USDJPY @ 81.90 TP 82.20 SL 81.55

Trades that I'm closely watching AUDUSD CHFJPY, CADJPY,

EURUSD, GBPUSD, EURJPY.
Discipline & sticking to your strategy even when you loosing defines great traders.
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fxtech
#574 Posted : Tuesday, January 04, 2011 9:35:34 AM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
UPDATE @9.30am NZDUSD already hit pfofit 45pips. I hv bn trailing AUDCAD which is in the money, jst in case. USDJPY also in the money.

TRADES IN PROGRESS:

re entered Short NZDUSD @ 0.7700 tp 0.7650 sl 0.7750

AUDCAD moved my SL to 1.0022, so we already 30+ pips and adjusted take profit to 0.9950

Short AUDUSD@ 1.0082 TP 1.0010 SL 1.0162

REMEMBER. Trail the trades.
Discipline & sticking to your strategy even when you loosing defines great traders.
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  | | Edit by user: Tuesday, January 04, 2011 10:00 AM | Reason: Not specified
Ceinz
#575 Posted : Tuesday, January 04, 2011 12:52:01 PM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Hi All,
Just been going through the thread. Kudos to all for your contributions.
@ Hisah, thanks to ur good analysis, hope u'll continue this year.
@ Fxtech, thanks for the recent trade posts.
Otherwise thanks to all, happy 2011.
“small step for man”
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banianimbaya
#576 Posted : Tuesday, January 04, 2011 2:04:08 PM
Rank: New-farer

Joined: 9/15/2010
Posts: 8
Location: Nairobi
I intend to start trading on a micro account this year and I'm trying to find a good market maker i.e. user-friendly platform,regulated.
Several people have recommended forex.com but their platform doesn't work for me (always unable to log in).Kindly share your experiences as far as this goes
"Success is like pregnancy; people will congratulate you for getting it but won't know how many times you were screwed before getting it."
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fxtech
#577 Posted : Tuesday, January 04, 2011 3:12:33 PM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
@baniani, I use FXDD, it's easy to use bt i gess the spreads sometyms are way too hi n funny whipsaws now n thn. I'm informed that Tadawulf got a very nice service wth regard to fx.

@Ceinz thanks I wl be posting wht i'm trading once I get the opportunity hope guys wl open up n we pull 2gthr.
Discipline & sticking to your strategy even when you loosing defines great traders.
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qw25041985
#578 Posted : Tuesday, January 04, 2011 4:42:06 PM
Rank: User

Joined: 5/9/2010
Posts: 1,418
Location: Nai
Recommended forex broker :

this is from personal experience (i.e i have an a/c w/ them).I wld recommend easy-forex.com .This guyz are so nice they even call you back !!!!!!!!! when you email them w/ a problem.Very few brokers do this.

try ibfx.com.au ( MAKE SURE ITS THEIR Australia branch). They are just tooooo professional.May be thats why they win awards left,right and center.

and make sure your forex broker SUPPORTS MetaTrader 4 . It will just sweeten your forex trading experience !
Your future depends on your dreams so go to sleep !
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fxtech
#579 Posted : Wednesday, January 05, 2011 7:31:51 AM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
WED 5TH UPDATE:

SHORT EURUSD @1.3285 TP 1.30350 SL 1.34500 (for nxt a few weeks) I'm sure we wl get retracements opportunities for scalping.

Long USDCHF @0.9479 it's an open trade

Short NZDUSD @0.76450 TP 0.7605 SL 0.76750

NB Trail the trades

Wishing all you guys a successful piping day
Discipline & sticking to your strategy even when you loosing defines great traders.
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kasheshe
#580 Posted : Wednesday, January 05, 2011 9:14:05 AM
Rank: New-farer

Joined: 8/6/2010
Posts: 26
I have used FXCM for the last 6 months and find their platform ok. They are UK and US regulated. I like their charts online seminars(Webinars).
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