Wazua
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Realities of Forex Investment
Rank: New-farer Joined: 9/17/2012 Posts: 23 Location: nairobi
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Whoa! This is a looooong thread! Can't say I've read it all but hopefully have caught the gist of it. Forex or any other futures trading is a legit investment avenue more common in developed countries. Even there they have issues,contrary to what many may think.I know of a guy who lost 700k last year after his Bahamas based broker was shut down for money laundering and also a Brit broker that was straight out con. After getting 15 mn gbp in deposits he disappeared,was arrested and is now doing time-with the clients money.Have also heard the horror stories of local investors being conned,though IMO the trader loses the money and is too embarrassed to admit it. A buddy lost 200k though I've heard of a guy who lost at least 1.5mn$ this year.
I've been in forex for 4 years and I know what I know which is this:
-don't trade every day
-chose a pair that works,for me its dollar pairs and gold
-find a system that works,most reliable is purely news trading,waiting for the data that moves the markets and then taking a position;with gold this a sure winner.Today I expect some upward movement but nothing serious like NFP since its Building Permits and Existing Home Sales and we all know how that sector is faring
-don't trade tired which is almost as bad as trading drunk!
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Rank: New-farer Joined: 9/17/2012 Posts: 23 Location: nairobi
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The data didn't provide enough momentum to move the market. Ohh well! Tomorrow is Unemployment Claims Philly Fed Manufacturing Index and ECB President Draghi Speaks. Last time he moved the eur usd 120 pips. If its still quiet next week there's Core Durable Goods Orders m/m Unemployment Claims and Pending Home Sales m/m which WILL DEF move things.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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kayoh wrote:The data didn't provide enough momentum to move the market. Ohh well! Tomorrow is Unemployment Claims Philly Fed Manufacturing Index and ECB President Draghi Speaks. Last time he moved the eur usd 120 pips. If its still quiet next week there's Core Durable Goods Orders m/m Unemployment Claims and Pending Home Sales m/m which WILL DEF move things. Agreed. Super mario of late is moving the EUR with every word he utters...
Agreed. Never trade daily. Fastest way of losing money!$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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 XAU/EUR - Tested 1365 euros. Ready for the breakout. Thanks to super mario & uncle ben's unlimited euro & USD printing commitment for making this trade easy!? $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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@Hisah Kindly help me out on how to upload a chart on this forum, I'm looking at EURJPY, AUDUSD Longs, USDCAD Short Discipline & sticking to your strategy even when you loosing defines great traders.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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fxtech wrote:@Hisah Kindly help me out on how to upload a chart on this forum,
I'm looking at EURJPY, AUDUSD Longs, USDCAD Short Enclose your image link in the image tags.
"![](http://" your image link ") "
Don't include the quotation marks.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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hisah wrote:fxtech wrote:@Hisah Kindly help me out on how to upload a chart on this forum,
I'm looking at EURJPY, AUDUSD Longs, USDCAD Short Enclose your image link in the image tags.
""
Don't include the quotation marks.
sorry I din't get that, any simpler or detailed explanation Discipline & sticking to your strategy even when you loosing defines great traders.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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fxtech wrote:hisah wrote:fxtech wrote:@Hisah Kindly help me out on how to upload a chart on this forum,
I'm looking at EURJPY, AUDUSD Longs, USDCAD Short Enclose your image link in the image tags.
""
Don't include the quotation marks.
sorry I din't get that, any simpler or detailed explanation Seems I cant put the tags since the script is reading the tag. Just edit your post and look for a tag "[img]" Also you can post first then edit your post and add an image from the edit window tools. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Golden cross on gold technicals - http://bit.ly/P3x2Zl$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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EURUSD moving avg is @1.2830. It needs to hold this support otherwise the snap break wont be funny for all markets vs USD. Fx Markets calling supa mario a bluff... Meanwhile XAU/EUR continues to rally on breakout... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Quote:From the end of 2008 through July 2012, no major currency appreciated as much as Australia’s dollar, thanks to booming shipments of iron ore and other commodities to China. Since then, it’s the worst performer as the engine of world growth slows. The aussie has topped! Expect to see it getting heavily shorted for a long time like the euro and GBP when a major selloff ensues. http://www.bloomberg.com...s-iron-market-melts.html$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Spain 'bad bank' to get 45-50% discount - Report FXstreet.com (Córdoba) - Spanish lenders will transfer real estate assets into Spanish new "bad bank" at 45-50% average discount, according to unnamed Reuters bank sources. "The figure is obtained by applying an additional discount of 5 percent to 10 percent over the average writedowns of around 40 percent that the government has already forced banks to take on real estate assets", Reuters reported. However, according to Reuters, the discounts will likely not be steep enough to attract foreign investors to the bad bank. "That could eventually force the state to use more taxpayers' money to take over the toxic assets to later sell them off". http://www.fxstreet.com/...f-49da-85cf-4cd0a1f07b38$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:EURUSD moving avg is @1.2830. It needs to hold this support otherwise the snap break wont be funny for all markets vs USD. Fx Markets calling supa mario a bluff...
Meanwhile XAU/EUR continues to rally on breakout... Fx markets are still calling super mario bond buy spree a bluff. EURUSD has now sagged towards the 200 SMA @1.2830. It needs to bounce at this level otherwise the bullish rally from 1.25 will all be retraced and global stocks will in the process retrace all their QE-infiniti rally!$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: New-farer Joined: 9/17/2012 Posts: 23 Location: nairobi
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Got good moivement on xau usd long, entered 1758.50 exited 1764.00. Hoped for more pips but I can't complain.Once again vindicated my painfully learned strategy of only trading the data.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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XAU/EUR continues the climb after a slight breeze. Euro is getting trounced by gold. Swiss Franc just like the euro is also suffering a similar fate and many more currencies. They simply can't keep up with the gold currency. http://www.kitco.com/gold_currency/index.html
The next train to board is XAU/GBP and smash the GBP on the looming breakout - http://www.bloomberg.com/quote/XAUGBP:CUR/chart
The CBs can lie about their economies recovery as much as they want. They can also print those fiat currencies until kingdom come, but precious metals are just showing the ponzi schemes true colors! The graphics that depict the hidden currency debasement... Gold vs Swiss Franc  Gold vs Euro  Gold vs GB pound  Gold vs Rupee  Gold vs SA Rand  Gold vs Yuan  Gold vs Brazil Real  Gold vs Yen  Gold vs Ruble  Gold vs Canada dollar  Gold vs Australia dollar  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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The above graphs depict that in the last five years gold has rallied vs the currencies above 100% except for the Swiss Franc, Yuan and Japanese yen. But they too are catching up as they get devalued... Worst devaluation is on the Rupee, GB pound, Russian Ruble and Sa Rand. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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FX traders seek coaching in battle for dominance http://in.reuters.com/article/2...es-idINDEE88T02Y20120930“small step for man”
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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CBK moves to cut off launderers ahead of key talks http://www.businessdailyafrica....20/-/jg4l39/-/index.html“small step for man”
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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SNB's diversification out of euro unlikely to stop - http://www.reuters.com/a...c-idUSL5E8LCNY220121016
Quote:The Swiss National Bank is buying fewer euros to enforce its currency policy, but diversification of its reserves out of the euro and into the Australian dollar, British pound and Swedish crown is unlikely to stop.
The euro stands 0.7 percent higher than the ceiling of 1.20 francs per euro which the SNB imposed in September last year. The central bank is still intervening even though the euro's recent gains have seen the monthly pace of SNB reserve accumulation slow to a trickle compared with June and July.
Since the SNB pledged to buy unlimited amounts of euros and protect the Swiss franc ceiling, its foreign exchange reserves have ballooned, to 429.30 billion francs in September -- 1-1/2 times bigger than they were a year ago.
It holds 60 percent of its reserves in euros and 22 percent in dollars, latest data shows, with smaller holdings in yen and sterling. In recent months, it has been increasing its share of less-liquid currencies such as the Australian dollar and the Swedish crown and analysts say this is likely to continue. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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So, should the euro crater, SNB will be sitting on a sea of pin tips... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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