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Realities of Forex Investment
Passyson
#111 Posted : Tuesday, August 12, 2008 1:59:00 PM
Rank: Member

Joined: 8/8/2008
Posts: 97
Good morning fellow traders. I hope you all slept well. Today,i have gone short (AGAIN) on the obnoxious EUR/USD pair since the Tokyo session and also the AUD/USD pair (gold prices have been down). I will TP right before the London session with a view of reentering the trades during that session.

I also look to short or long GBP/CHF pair depending on the outcome of the UK cpi m/m to be released @ 11:30am. I am hesitant on trading this news bit on the GBP/USD pair based on the USD bids prevailing in the market.

Happy trading all.



@NGAATU

FOREX.com refer a friend program is a good incentive for some bonus in your account....both your account and the referred friend.


Anyone who lives within their means suffers from a lack of imagination
Kal-El
#112 Posted : Tuesday, August 12, 2008 5:23:00 PM
Rank: Member

Joined: 5/17/2008
Posts: 4
@passyson and the rest

Sorry to crash the FX party but passyson mentioned gold prices which I'm interested in. Any of you know how one goes about trading gold and other commodities on the same scale as forex?

It's not about the ending,it's about the journey.
StephenAlala
#113 Posted : Tuesday, August 12, 2008 6:14:00 PM
Rank: Member

Joined: 7/9/2008
Posts: 44
@Kal-El

Genius Forex holds several Introducing Brokerage contracts with brokers who offer trading in Gold,Silver,Oil,the S&amp;P,NASDAQ indices etc.

If interested give me a call on 0727 520 504

@ Fundamental and technical traders - EDSAS Automated System has booked me 45 pips as of 1 p.m. today. Happy screen-staring!
Kal-El
#114 Posted : Tuesday, August 12, 2008 6:21:00 PM
Rank: Member

Joined: 5/17/2008
Posts: 4
@stephenalala

Thanks,but the number you gave me is being answered by someone who doesn't know you,might you have made a mistake?

It's not about the ending,it's about the journey.
Passyson
#115 Posted : Tuesday, August 12, 2008 6:45:00 PM
Rank: Member

Joined: 8/8/2008
Posts: 97
The reason why i trust my manual trading is that i am the sole decision maker of my trades :)

I have made cumulatively,376 pips on AUD/USD,EUR/USD,GBP/CHF pairs since my early morning screen staring sessions!


Anyone who lives within their means suffers from a lack of imagination
tonicasert
#116 Posted : Tuesday, August 12, 2008 7:29:00 PM
Rank: Member

Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
@Passy-on

You seem to be quite a scalptor/pip-raider - good one. Guess coz u do it for a living. What time frames do you use?

My job limits me on the trades i take in a day.

@All,

What do you think of the UK CPI numbers? Time for a rally of Her
StephenAlala
#117 Posted : Tuesday, August 12, 2008 7:36:00 PM
Rank: Member

Joined: 7/9/2008
Posts: 44
@ Kal-El

Pole,I had writtten 0720 instead of 0727. The number is 0727 520 504 or 020 211 3257

@Passyson,

How many lots do you trade a day?
Passyson
#118 Posted : Tuesday, August 12, 2008 7:47:00 PM
Rank: Member

Joined: 8/8/2008
Posts: 97
@Tonicasert...

I use 1 hour charts. I realised that the movement takes shape mostly around the 10-20th minute of the hour chart...that is when i enter the trade (if the definite movement takes place)

@Alala

Anywhere between 50,000-100,000 lots. Depends on the strength of the signal and the spread i am offered.




Anyone who lives within their means suffers from a lack of imagination
NGAATU
#119 Posted : Tuesday, August 12, 2008 8:06:00 PM
Rank: Member

Joined: 5/6/2008
Posts: 107
Hello guys!
@passyson
The movement of small dollars particularly the NZD,AUD,CAD has been much affected by the weakening of commodities prices( Gold,ore,e.t.c) as i know they are also affected by the B.O.P. So if you went short with AUD,NZD and long on CAD in the morning sessions i think you would have made almost 40-50 (on each pair) pips as the almost all their support levels have been broken down. Am still anticipating the small dollars movement to be almost bearish taking into mind the falling levels of commodities. Opinion: dont you see the fear of chinese economic growth has hampered more the demand of commodities( there is a fear of inflation and cost prices are high) dont you think the chinese economy is correcting itself?Similarly the fear of slow economic growth in europe and also in asia may reduce further the demand for commodities and thus affect the commodity driven currencies?Give me your take


to all: Do you feel this may be the end of the greenback slump or is it supported by oil levels and other countries economic weakness rather than factual macro economic events? My take is that it is somehow depending on the other factors rather than its factual fundamental issues(the country has some things to sort out still) although its sustain may be boosted if the other factors continue to weaken!
Is the global economy recorecting itself as the effects are now felt everywhere(even in the robust dragon economy) or the dollar was just being speculated against the crude oil much?

I think the 50000 - 100000 units is a good range to waddle between,taking into account the spreads and other factors constant.

@NGAATU
StephenAlala
#120 Posted : Tuesday, August 12, 2008 8:38:00 PM
Rank: Member

Joined: 7/9/2008
Posts: 44
@Passyson

You must mean USD 50,000 to USD 100,000 or 0.5 lots to 1 lot. Right?

Why do you want to stop managing accounts? You need to move your trades to the 5 million to 10 million dollar range. I can help you do this.
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