@alma

Thanks for the insight and contribution in this part of our side in forex investments.
Of course it is true that not all online forex brokers are genuine in fact majority of them are not good and a person need to look at them after researching them for a while,by veryfying their status and look if their status is updated time after time.Do not belive in individuals at all if are not regulated well.

If you do enough research i beleive it wil very hard to be dissapointed but most dissapointment come because of a person being very fast and ignorance and having skewed skills and information.A person needs to take time to be good.

The 3 day forex trainers,forex signals e.t.c as much as a person can defend them i know they are all shortcut to information which is suicidal in the market.Take time and you will reap the benefits in long run as any other investment,if you take short cuts then you will get into live accounts and the market and you will be left suprised and blaming.


@NGAATU

The TP even hit 20 pips going short before pre-NY session,and infact the USD/CHF has already hit the 15 pips!!! Sure @ngaatu that was it.Am also monitoring chairman bernake reaction from other economies and the underlying technicals are not having a distinct direction as they hold up due to the uncertanity.

@alma The problem of the brokers is something you need to live with them but what a person needs to look is the one who has improved services,what the brokers are doing in a demo is not what they are doing in live accounts,problems like flactuating spreads,inneffective platforms e.t.c should also be put in consideration but if you research them well you will understand them slowly and can differentiate and better when you get into live accounts.I have switched to around 3 brokers and finaly returned to the first one. If you take time you can understand them.
- most are also lied with the leverage and low entry amounts,they are almost a gulloting for most traders.

@ngaatu what is your take on correlations during this time? i have noticed they are flactuating and breaking up

HARD WORK,HARD WORK HARD WORK

@kilabe

Thats good if you took your trades well jana.On the correlations they have been slightly affected due to the extreme volatility we have all been witnessing.If for instance the correlations we have in pairs of EUR/USD USD/CHF which is almost perfect negatively correlated has also been hit during the "near collapse" of the markets spiralled by the financial crisis in U.S and other major markets across the world.The dollar tumbled down and the euro and the swiss franc also took a nose dive simultaneously so the market was in a particular downward direction.But with time there was correction in the market and the correlation were edging on back.
Infact the correlation comparison with dollar and the oil/commodities was also hit if you watched it closely.

I also do expect there will be extremely volatility in the upcoming days,and an investor/trader needs to have some ways to navigate the market in those situation.And i can concur with my colleague tonicasert that you need to get targeted number of low pips maybe between 10 to 30-50 pips so that it can enable you to have something before any movements are sparked either way by the extremely volatility.Keep check on the fundamentals closely before taking moves.

Regarding volume in forex it do matters at an extent although most brokers and individuals put it aside coz of luring most novices and experienced together. It will take some time for a trader with $500 to get something comfortable than a person with $3000. That does not mean a person cannot get something but it will be something he will to work hard as during like this extereme volatility where it will be very difficult to paddle through.
- The brokers leverage making a person to think he can start with low funds in the long run is also a cache,there are also many things which a person needs to take time to look carefully before beleiving in them.

The dollar is on rampage now!!!!

@NGAATU

hello everyone

Mchumia Juani hula Kivulini

Am an active investor in the N.S.E and i can tell you all that things are not as good as they are as insider trading is rife and we could expect more collapse of the stock brokers in the coming months as the economy is on the downturn while we finish the year but maybe we could expect an economic roundabout early next year.

I have been trained the online forex exchange which i wanted to diversify from the stock market but i got into the market six months ago and i only got a good return in the first 1 month and three weeks as i was using a trading signal which my trainer advised me and i bought it at a cost of USD 500. But after sometime things went opposite and i was at the receiving end the system was not giving me good directions and it was flactuating. Currently i have stayed put cause i did not have a direction to follow,but after i came across this forex posts it has really opened eyes for a lot of things which i had not known even from my trainer whom i think was also a student.

I wanted help from @ngaatu who posted this forum as there are a lot of facts which i did not know but it seems i was only ignorant.Please can i get help from @ngaatu or @tonicasert so that you can tell me the way of things as i was misadvised earlier.

Please cause i know forex is a good market,so feed us the free information which you have.

Bidii yangu

Thanks for this forum,i am in states and i started trading forex,and i need to know which brokers are honest,i mean i have read alot of forums and it seems there is no good forex trader in this world. Also if i move to kenya,which forex broker is good to do business with and how much will a pay to install internet in my house. Nice trading.

The most risk in life is taking no risk at all

morning @all.

The aussie lost its ground early in the morning at almost 60 pips to the main majors and especially the dollar.Still waiting for the RBA announcement.Still loosing

Hope the dollar rampage will cool down today.Hopeful!

@muekezaji
As you were told earlier the situation has been gloomy in almost all financial markets and there was hiccup which was felt also in currency markets.Am very sorry with your story which you have told me earlier but what i can advise you is that there is nothing simple or cheap and if a person purpots to give you a short cut cause you will save time or stress then be wary of it as it may cost you 5 times what you have bought to save you time.
- If you take a little bit of time and patience(a virtue so crucial) then you can be in any financial market for a long time.

My mail address is casee83@yahoo.com

@cckip

Good to hear from you.Hows U.S? i know things are not working out well due to the economic downturn we are witnessing.Its better you took your time in looking at the market,how have you seen it?
- Its a good market but it needs patience and information. By the way why do you need to work for 10 hours in U.S or three jobs to meet the obligation and get around $300 while you can come back here and earn that using your skills in forex.Anyway thats a sideshow.

Regarding the brokers,i cannot tell you the one who is 100% right but at least there are others who are exceptional good though they have constrained here and there but in relation to others they are good. Those i know are good i can tell you i have Oanda whom i have been with him for almost 2 yrs and is not bad in relation to others.
There is also FXCM used here and forex.com to mention others.

You need to understand if the broker is a ECN,market maker e.t.c as this depicts somehow how they operate and the economic costs you could incur in the long run and their stability.Problems of slippage,execution delays,platforms instability e.t.c are also rampant with many brokers though they wont tell you so till you experience.

Even oanda had very crazy flatuating spreads but this was due the volatility experienced as the reason is that the interbank rates to the brokers were also volatile and the more stabilty in the market the less flactuating. But i think for the last 2 wks there has been a level of confidence in the market and this has cooled the spreads spike.But for other brokers i cannot tell as they are those who are crazy.



@NGAATU

Ngaatu thanks for your help,the us is find,but the economy is going down,i am still young in forex trading like three weeks,but the good thing is i had a good background trading stocks,but forex is another animal altogether. Yep i am looking forward to coming home in like six months,when i will be much comfortable trading forex,but for the last few weeks i have been trading and reading plenty of books,i have seen their is some opportunity to make a good living if you know what you are doing,patience and less greed.i hope i will i will get a good mentor right here at stockskenya. Have a good day Mr Ngaatu.

The most risk in life is taking no risk at all

Morning @all traders

The dollar bull has hit all the Top spots in almost all currencies.I went with comdolls and yes last night as i said i was looking for 20 pips for aussie but it surpassed the target hitting almost 50 pips under.Despite the data released by their economy on CPI i think the falling commodity prices really hit the comdolls hard.

Today still expecting the comdolls to be affected but will be curious to the marekt as the US mortgage applications and crude inventory may trigger a retracement at some point.Still expecting the crude inventory demand in U.S to be lower thus will drive the crude oil to low levels and hit the commodities also,maybe with good lot between 15-40 pips.
If the inventory will be lower the CAD i expect it to shed more pips as its economic data will also be on pipeline.The fundamentals driving the market are still not shaped.

Similarly the credit crisis is still not yet out but fazing out slowly looking at the moves from the central banks.Seems there is also a little bit of reccesion in euro zone.
Though a person need to cautious of the spike made when a retracement is done so go for a conservative range of pips to safeguard yourself always.

@passyson tell me how are the comdolls?

@NGAATU

The Libor rates seem to be easing off (today USD 3M Lib at 3.88% from a high of 4.8% last week),so the interbank uncertainty seems to be under control. Am taking this to mean that there may hardly be any more bank and fin institution collapses. What we may see now is corporate closure as sales go down,retrenchments,and generally a poorly performing equity market as the effects of recession begin being felt globally. Chinese companies are retrenching and closing down big time. All these may trickle down to all economies.