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Rank: Member Joined: 9/12/2014 Posts: 120 Location: Nyali
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@Hisah, Thank you very much sir,i really appreciate and words alone are not enough to express my gratitude.I am for the time being in Kenya and trying to adjust to the time zone here.Otherwise,would you be kind enough to share your mail on this platform?If not kindly get in touch with me on murithitheshepherd@gmail.com Once again your advise is priceless and can not wait to be a guru like you!!
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Rank: Member Joined: 9/12/2014 Posts: 120 Location: Nyali
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@Hisah...Here is a site i think will help you see what i mean by copy trading; Analyze it and then advise me accordingly; https://www.mql5.com/en
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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Ceinz wrote:Quote:'..the currency market’s reaction to even a hint that the BoJ is losing support for its expansiveness could be huge. While the door is open for the USDJPY to reach 124 and perhaps 135 within the next 12 months, the reaction to the other side could be violent.
JPY monthly charts
As a reminder, here’s what happened on the USDJPY in 1998. The pair dropped over 20 big figures in a matter of days Indeed, reminds me of 2010/2011 when BOJ was hopelessly fighting off the yen bulls. As a matter of fact the yen long term trend is bullish and we are currently on a pullback, that can floor anywhere between current levels and 125. Ceinz wrote:
The next culprit will be the Yen. BOJ will soon have to throw in the towel in its perennial devaluation of this baby and let the market take its place.
Finally UJ showing signs of weakness. A close below 115, should see this baby plummet to the 105 levels. “small step for man”
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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hisah wrote:shrewdinvestor wrote:@Hisah and other venerated wazua veterans..I am now officially in forex investment and learning the ropes pole pole..what is your advice for a novice like me....best broker and reasonable amount to begin with. Since the swiss national bank crashed the euro peg vs swiss franc some brokers went bust. It's a bit murky now to discern the retail brokers that are indeed fit after that liquidity shock.
I'm still in shock that alpari uk went bust. Another big broker - fxcm had to be bailed out. Read about this storm to gauge your risk.
For beginners my picks are fxpro and alpari (though now its bust). Open a demo account so that you test their service. Then open a micro live account so that you test with say $100 to feel the real market. Take your time to learn the market. The longer the better so that you test many scenarios to fine tune your trading plan. Fx is volatile so risks are high. For a large account > $10K my preference is saxobank.
While learning fx, not to take a trade ('sitting on your hands') is the most difficult skill to master. This is because it's difficult to control your emotion. Another important skill that one must master.
Next important thing is risk management. Risk around 5% of your capital as a trade position to minimize huge losses coz of leverage. Read about margin call.
The other thing you need to be aware of is the market is manipulated. Over time you start seeing the patterns (false moves) especially during news events and market cross open (fix windows) i.e. Asia close/Europe open or Europe close/US open or US close/Asia open.
Nobody likes taking losses, but for beginners I prefer they experience losses in order to face their emotions barrier. Then risk management kicks in. Once you learn how to manage losses, profits start adding up. Such an anti-climax after such a great 2014.E$,GU,UJ were such winning pairs,well except GU during the scots referendum. i had an account with them which i used to trade GU. Currently looking for another broker to add to Dukascopy. @SufficientlyP
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Rank: Member Joined: 1/13/2012 Posts: 139
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Hey,
Anyone using Heikin Ashi charting tools to identify and ride trends?
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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shadowinvestor wrote:Hey,
Anyone using Heikin Ashi charting tools to identify and ride trends? I use Elliott Waves.  Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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Buy E$; Sell Gold. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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Ceinz wrote:Ceinz wrote:Quote:'..the currency market’s reaction to even a hint that the BoJ is losing support for its expansiveness could be huge. While the door is open for the USDJPY to reach 124 and perhaps 135 within the next 12 months, the reaction to the other side could be violent.
JPY monthly charts
As a reminder, here’s what happened on the USDJPY in 1998. The pair dropped over 20 big figures in a matter of days Indeed, reminds me of 2010/2011 when BOJ was hopelessly fighting off the yen bulls. As a matter of fact the yen long term trend is bullish and we are currently on a pullback, that can floor anywhere between current levels and 125. Ceinz wrote:
The next culprit will be the Yen. BOJ will soon have to throw in the towel in its perennial devaluation of this baby and let the market take its place.
Finally UJ showing signs of weakness. A close below 115, should see this baby plummet to the 105 levels.  $JPY in a triangle formation. A fallback to 117.40 then a rally above 122 likely very soon. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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New MT4 mobile for Android has been released. A new MT4 mobile platform for Android has been released and is already available at Google Play. According to Metaquotes Corp, the new updated platform has better features then the previous versions and customers are encourage to update the terminal. “small step for man”
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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USDJPY testing critical resistance @120.80. Break above will likely target 125. USDCHF testing 78.2% fibo retracement post SNB peg shellshock. Looking poised to retrace the entire selloff!! $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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hisah wrote:USDJPY testing critical resistance @120.80. Break above will likely target 125.
Im long @ 121, sl 120.50 looking for 124 “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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hisah wrote:
USDCHF testing 78.2% fibo retracement post SNB peg shellshock. Looking poised to retrace the entire selloff!!
And voila, USDCHF now @ 0.9900. It has retraced the entire peg shellshock!! “small step for man”
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Ceinz wrote:hisah wrote:
USDCHF testing 78.2% fibo retracement post SNB peg shellshock. Looking poised to retrace the entire selloff!!
And voila, USDCHF now @ 0.9900. It has retraced the entire peg shellshock!! SNB destroyed CHF shorts and now Mr Market has revenged furiously that SNB bombshell. This is a very serious signal for swiss bank status. I think in the near future the swiss bank safe haven dream will be disrupted in a nasty way. Definitely looks like a vote of no confidence from Mr Market on the swiss banking system!
Caution when trading any CHF cross. This fight is about to get very ugly. Just picture those CHF bulls that bought into the SNB bazooka and are now getting short squeezed as the entire move is retraced! Another round of liquidity squeeze is coming. Watch out for those brokers...$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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EUR$ bottomless pit. Aiming for parity @1.00. I think that's where the support will be solid. USDCHF retraces entire SNB shellshock! Absolute freak rollercoaster ride!! Should the fed not hike the USD funding rate as the market expectx, this overcrowded USD bull train will derail badly. 2015 is about extremes! - Extreme euro selling. - Extreme USD buying. - Negative interest rates in euroland. - Extreme equity buying. When the music stops... Back to feudal age I guess. $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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If gold closes in the red today that will be a 9 day sellside trend! Hasn't happened in 17yrs! All the way back to the Asian crisis in 97-98. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 1/4/2015 Posts: 153
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Guy's any advise on how one can get into forex trading online? Any good platforms you can recommend? anyone know where one can get good materials to study before beginning..!!Advice..Suggestions? Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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ayushnehra wrote:Guy's any advise on how one can get into forex trading online? Any good platforms you can recommend? anyone know where one can get good materials to study before beginning..!!Advice..Suggestions? You can start at www.babypips.com
$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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Since Monday fx market has been like watching paint dry. FOMC is today which means volatility will return. Tighten those stops to protect open positions. I'll watch from the sidelines to see which side FOMC will move the market. Daily close dojis on $CHF, $JPY and $ index (DXY) at overbought levels warn of a looming correction on the $ strength. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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hisah wrote:If gold closes in the red today that will be a 9 day sellside trend! Hasn't happened in 17yrs! All the way back to the Asian crisis in 97-98. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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hisah wrote:
Daily close dojis on $CHF, $JPY and $ index (DXY) at overbought levels warn of a looming correction on the $ strength.
True dat, and already now the Benjamin's hinting to loosing strength. If this plays out then USDCHF & UJ will be nice short candidates.  “small step for man”
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