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Realities of Forex Investment
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The Merchant
#811 Posted : Wednesday, March 09, 2011 11:26:45 AM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
It is when the stock market is slipping downwards,like now, that I really love the forex market. Lets go currency traders!! I have alot of cash in the stock market though Sad
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ngapat
#812 Posted : Wednesday, March 09, 2011 1:03:40 PM
Rank: Veteran

Joined: 12/11/2006
Posts: 930
gbp/use long position stop loss moved to 1.6175 to book 5 pips profit
“Invest in yourself. Your career is the engine of your wealth.”
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fxtech
#813 Posted : Wednesday, March 09, 2011 1:27:57 PM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
@ngatap GBPUSD a gud trade right there,I would go for 80+ pips but am already full with trades I will just watch from the sides. All the best
Discipline & sticking to your strategy even when you loosing defines great traders.
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ngapat
#814 Posted : Wednesday, March 09, 2011 1:39:48 PM
Rank: Veteran

Joined: 12/11/2006
Posts: 930
just exited trade @ 1.6186. looking to re-enter again in coming session once i analyse which direction. just saw this somewhere

Divergence with highs over the past month warns of a GBPUSD top. That top may very well be in place as the GBPUSD has declined over 200 pips from its recent high. Near term support comes in at 16050 and 15950 (both Fibonacci extensions and former supports). Interest rate differential and a proprietary indicator that compares interest rate differential trend and price trend favor the downside as well.
“Invest in yourself. Your career is the engine of your wealth.”
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Ceinz
#815 Posted : Wednesday, March 09, 2011 2:18:05 PM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Ceinz wrote:
Looking for long opportunities on USD/CHF.


Thanks God I never enter, the pair down almost 60 pips, must have been some fundamentals or something.
“small step for man”
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hisah
#816 Posted : Wednesday, March 09, 2011 3:48:07 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Ceinz wrote:
Ceinz wrote:
Looking for long opportunities on USD/CHF.


Thanks God I never enter, the pair down almost 60 pips, must have been some fundamentals or something.


US and Eurozone fundamentals cannot match with Swiss fundamentals with gold and silver tearing the roof. I expect new record lows in USDCHF and EURCHF pairs.
Still wondering about the 100K eurodollar sell contract with 1.29 strike price in March. With Moody's cutting Greece bonds rating 3 steps down, careful with euro buying... And when will these rating agencies start downgrading US bonds? This feel good pretext is taking too long...

I'll continue to hold my silver and gold positions till the skies fall.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Ceinz
#817 Posted : Wednesday, March 09, 2011 8:06:29 PM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
hisah wrote:
Ceinz wrote:
Ceinz wrote:
Looking for long opportunities on USD/CHF.


Thanks God I never enter, the pair down almost 60 pips, must have been some fundamentals or something.


US and Eurozone fundamentals cannot match with Swiss fundamentals with gold and silver tearing the roof. I expect new record lows in USDCHF and EURCHF pairs.
Still wondering about the 100K eurodollar sell contract with 1.29 strike price in March. With Moody's cutting Greece bonds rating 3 steps down, careful with euro buying... And when will these rating agencies start downgrading US bonds? This feel good pretext is taking too long...

I'll continue to hold my silver and gold positions till the skies fall.


Good take on the swiss franc, I'll also be wary on my euro longs. What about the Aussie, do think this soaring of gold might bring more bulls on board? And where do you think the yen is headed?
“small step for man”
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fxtech
#818 Posted : Wednesday, March 09, 2011 9:26:43 PM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
@ngatap why did u fear the long GBPUSD

@Ceinz it's gud u dnt trade USDCHF
Discipline & sticking to your strategy even when you loosing defines great traders.
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hisah
#819 Posted : Thursday, March 10, 2011 4:48:33 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Something meaty about USD bonds - this happened last month...

http://www.reuters.com/a...t-idUSTRE7285M020110309

@Ceinz - Aussie has too many bulls and I also don't trust their real estate trend. But as I said before with G10 nations choking with debt to the neck, it is quite difficult to say this currency vs this one is better. I prefer buying silver or gold stocks instead (aussie mining firms and others globally).
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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fxtech
#820 Posted : Thursday, March 10, 2011 7:43:20 AM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
EURAUD TP booked @1.3720 +75pips

TRADES STILL RUNNING: EURGBP, AUDCAD

I'm,

SHORT NZDUSD@0.7355 TP1 0.7305 TP2 0.7255 SL 0.7415

LONG EURAUD@1.3807 TP 1.3890 SL 1.3740

Discipline & sticking to your strategy even when you loosing defines great traders.
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