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Realities of Forex Investment
NGAATU
#361 Posted : Wednesday, October 29, 2008 12:17:00 PM
Rank: Member

Joined: 5/6/2008
Posts: 107
Morning @all

@toni I tried the market before 23hrs kenyan time (20hrs GMT) and went long with the EUR/USD with about 20 pips and it hit my TP.I noticed the widening of spreads.

The information of japan industrial production came out somehow positive later in the night.With the expectation of the data from german (cpi) and the U.K (money supply) with the euro zone i expect the USD to rally a little bit before the sentiments of waiting the interest rate cut in U.S start to rule the day.Am going 20 pips short with the EUR as waiting for other market direction.

Howz your take on the big interest rate decision from the U.S?


@NGAATU
NGAATU
#362 Posted : Wednesday, October 29, 2008 12:20:00 PM
Rank: Member

Joined: 5/6/2008
Posts: 107
I have hit the TP but now looking at the markets as volatility is in the offing.

@NGAATU
tonicasert
#363 Posted : Wednesday, October 29, 2008 2:22:00 PM
Rank: Member

Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
Morning Ngaatu,

The Fed rate cut was widely expected and priced in the market,as seen with the easing off of Libor rates. Though this cut and Yen talks are likely to push the USD lower against the majors.

Spreads for my favourite ccy - GBPUSD have now widened to 15 pips with my broker. This is just not tradeable. I also realised last evening that there were moments of stop-hunting,when their prices spiked lower by 80 pips in a second (and many people stopped out),while the feed on global-view didnt show this spike. Keeping out of cable for now :(( The others are too slow for me but no choice for now.

Looking to long EURUSD on a dip towards 1.2700 (current 1.2730). At least here the bid/offer spread is 3 pips.

GL and GT
tonicasert
#364 Posted : Wednesday, October 29, 2008 5:00:00 PM
Rank: Member

Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
Exited the long EURUSD from 1.2700 with +45 pips profit. Waiting for another dip then I buy again. Ultimately it should hit 1.2830.

GL and GT
tonicasert
#365 Posted : Wednesday, October 29, 2008 7:07:00 PM
Rank: Member

Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
Missed on the dips. Current EURUSD at 1.2830,shorting for some 40-50 pips
tonicasert
#366 Posted : Wednesday, October 29, 2008 8:57:00 PM
Rank: Member

Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
Taken 40 pips profit on the EURUSD. Will pip raid most of the evening. Have a nice evening all!
NGAATU
#367 Posted : Thursday, October 30, 2008 1:49:00 PM
Rank: Member

Joined: 5/6/2008
Posts: 107
@mukezaji

You can write any question or if you dont understand anything to anyone here.I do beleive that we have abled guys with practical experience and daily market movements second by second.Information and knowledge you can get is also free and you can be helped with anything albeit slowly but consistent.If you have been &quot;trained&quot; before and try to demo as told and then you went to buy signals and systems and after a period you lost almost 60% of your capital then i suppose you were given milk and honey information a lot,and i suppose also the things which you knew could not help you in the long run.

You can get free information from practical guys here without spending a dime,we have @tonicasert @passyson @kilabe and few others who are not only practical but are great in fundamentals/technicals and market routes which you can gain them freely.To verify the capability of these guys you can follow their market takes every hour they take a position and you can prove their worthiness in experience.I dont want to despise anyone out there but this free information can give you 20 times more information than anyone training you out there.Take time and learn the ways.


@NGAATU
tonicasert
#368 Posted : Thursday, October 30, 2008 2:14:00 PM
Rank: Member

Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
Morning all,

Fed cut by 50 bps,and pushed USD lower against majors. Yen is still weakening,now almost hitting the 100 mark. I expect GBPUSD to hit 1.7480 in the next few days,before the BoE meting when they're also expected to cut. EURUSD may experience some minor resistance at 1.3500,if broken head to 1.4100 in the next couple of days,when ECB is also expected to cut rates.

Trades: Looking to buy on deep dips,coz the overbought indicators are really stretched at these levels.

GL to all!
Passyson
#369 Posted : Monday, November 03, 2008 11:08:00 AM
Rank: Member

Joined: 8/8/2008
Posts: 97
Hi fellow traders...

@Toni and Ngaatu...sorry been busy for the better part of last week...couldn't reply to your posts asap.

Toni...email is passysons@yahoo.com ...will write soon so as to be able to get a plan on the traders arcade and maybe incorporate it into the Kenyan market.

Ngaatu...we definitely should come up with a place that we can offer advice to anyone interested out there regarding the forex market. I am sure by December,we shall have met and come up with a tentative plan. If need be,we can start off with a few members and progress steadily.

I will be trading later in the day...since this is monday. Crazy day it might be.

Good week all and happy trading.

Anyone who lives within their means suffers from a lack of imagination
NGAATU
#370 Posted : Monday, November 03, 2008 11:26:00 AM
Rank: Member

Joined: 5/6/2008
Posts: 107
morning @all

Hope your weekend and time was great.Just checkin on the market movements and later on will take a position.@ passyson i had written an e-mail to you hope you can go through it,on the proposal of the kenyan trade arcade.I had coppied it to tony also,after he had proposed the idea.I think the idea is great too and we can start with just a few guys.
Probably we should have met by december.

Have a great trading day @all!!!

@NGAATU
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