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Realities of Forex Investment
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Passyson
#271 Posted : Tuesday, September 09, 2008 6:10:00 PM
Rank: Member

Joined: 8/8/2008
Posts: 97
Gone short EUR/NZD @ 2.092510 and long AUD/USD @ 0.814990...looking to T/P at 25 pips each.

Anyone who lives within their means suffers from a lack of imagination
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Passyson
#272 Posted : Tuesday, September 09, 2008 6:59:00 PM
Rank: Member

Joined: 8/8/2008
Posts: 97
EUR/NZD S/L hit...AUD/USD T/P @ 18 pips...that's all for London session



Anyone who lives within their means suffers from a lack of imagination
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tonicasert
#273 Posted : Tuesday, September 09, 2008 7:33:00 PM
Rank: Member

Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
@Passyon,

Thats some enviable pip raiding sessions you have. One day when I have the time...

Took my earlier 35 pips on GBPUSD. Just re-entered a short at 1.7624 targeting just sub 1.7600.

GL and GT
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tonicasert
#274 Posted : Tuesday, September 09, 2008 8:56:00 PM
Rank: Member

Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
Took profit at 1.7594.

Generally markets are trading in fairly decent ranges,and oscillators on the short time frame ae looking good. Actually in these conditions one can scalp almost every hour on the 5 min graph and make some 20-30 pips per trade.

Looking to short GBPUSD again when it retraces to 1.7620's levels (current 1.7590),and target around 1.7550-75. The next support is 1.7520,so have to trade in the direction of the market (down) i.e. keep shorting. ** Just indicating the trade strategy for newbies. I know it sounds too basic for some,and everyone has a trading strategy.

With Gold at 785 and Oil at 104 (edging closer to the psychological level of 100),we expect USD to continue with the run it experienced in the previously in the coming weeks.
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Passyson
#275 Posted : Tuesday, September 09, 2008 9:18:00 PM
Rank: Member

Joined: 8/8/2008
Posts: 97
@Tonicasert...how i miss Dubai! The internet speeds down here can be really frustrating...anyway let me put up with it for a while.

Short on AUD/USD @.809140...expecting at least 20pips...am also contemplating on shorting EUR/USD...let me see how my indicators go especially after the home sales @ 5pm.

I will try the 5 min chart maybe on Thursday :)

Anyone who lives within their means suffers from a lack of imagination
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Passyson
#276 Posted : Tuesday, September 09, 2008 10:25:00 PM
Rank: Member

Joined: 8/8/2008
Posts: 97
AUD/USD gave me 40 pips...Currently short EUR/USD @1.411580... targeting at least 80pips profit barring any whipsaws...

Anyone who lives within their means suffers from a lack of imagination
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tonicasert
#277 Posted : Tuesday, September 09, 2008 10:29:00 PM
Rank: Member

Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
@Passyon,

Pole,but soon the fibre optic will make things better.

Speaking of which,my station is down - my brokers are having some communication issues,so not just Kenya :)) So for now will just have to sit back and watch.

Have a nice evening.
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Passyson
#278 Posted : Tuesday, September 09, 2008 11:14:00 PM
Rank: Member

Joined: 8/8/2008
Posts: 97
S/L for Eur/Usd hit...that's it for the day!

@Tonicasert...Good evening too.

Anyone who lives within their means suffers from a lack of imagination
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bigiSAR
#279 Posted : Wednesday, September 10, 2008 3:36:00 PM
Rank: Member

Joined: 8/13/2008
Posts: 3
hi forex friends.
@passyson,@tonicasert,@ngaatu and others
your contributions are eye openers to me and i guess many other traders out here. thank you for your great insights. Any ideas for today's market esp. on USD MBA morgage &amp; NZD rate decision?

Life is a JUST employer,He gives you what you ask...once you have set the wages,u must bear the task...
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Passyson
#280 Posted : Wednesday, September 10, 2008 3:48:00 PM
Rank: Member

Joined: 8/8/2008
Posts: 97
Morning Bigisar...

As i have always said,Forex trading should never be a selfish venture..there is so much money to be made by everyone out there and it serves no purpose to hoard information unless one is mean to the core.

The NZD rate decision is up at midnight. Most economists expect the rate to be cut but by how much is the question. Anyway if the rate is cut by 50bp then expect NZD to lose against the USD. If the rates remain on hold then it would be preferable to buy NZD/USD...again all of this may come to naught especially noting that at midnight the Tokyo session is yet to come alive. I would expect greater movements during the Tokyo session that opens later in the morning.

As for now,the market is very choppy and there is nothing much to write home about. Lets see what happens in the London session.

Happy trading all!

Anyone who lives within their means suffers from a lack of imagination
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