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.