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Realities of Forex Investment
Rank: Member Joined: 5/6/2008 Posts: 107
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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
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Rank: Member Joined: 5/6/2008 Posts: 107
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I have hit the TP but now looking at the markets as volatility is in the offing.
@NGAATU
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Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi
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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
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Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi
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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
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Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi
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Missed on the dips. Current EURUSD at 1.2830,shorting for some 40-50 pips
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Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi
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Taken 40 pips profit on the EURUSD. Will pip raid most of the evening. Have a nice evening all!
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Rank: Member Joined: 5/6/2008 Posts: 107
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@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 "trained" 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
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Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi
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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!
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Rank: Member Joined: 8/8/2008 Posts: 97
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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
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Rank: Member Joined: 5/6/2008 Posts: 107
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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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Rank: Member Joined: 8/8/2008 Posts: 97
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Entered two trades...
Long EUR/USD @ 1.284260 with a S/L @ .27426 and a T/P @ .29026...15lots
Also long AUD/USD @ 0.68293 with a S/L @ 0.67293 and a T/P @ 0.68693...20 lots
G/L all
@Ngaatu...i will have a look at the email later and post a comment or two...thanks.
Anyone who lives within their means suffers from a lack of imagination
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Rank: Elder Joined: 7/20/2007 Posts: 4,432
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wouldn't mind learning more about the trade arcade? If it's interesting,I will see what I can do. As long as you're not promising anyone 100% profits. Jose: If I make it through this thug life, I'll see you one day. The Lord is the only way to stop the hurt.
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Rank: Member Joined: 8/8/2008 Posts: 97
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Alma...no one is promising anyone anything...you come,you trade. If one wants to join the trades that the more experienced traders might be entering,it is their prerogative.
I post my trades here,i do make at least 1,000USD per day...i aint bragging about it but the proof is in the pudding. Toni and Ngaatu also have their profit targets per day. We give our advice freely to all. Anyone can benefit from it without paying a single dime. But we also have to teach people to be independent with time...maybe a year or two down the line so that they can also teach other people and before long,we have more people trading and earning a living from forex trading.
Imagine what that would do to our economy in general.
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 5/6/2008 Posts: 107
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@passyson i went long in the morning with the AUD/USD with about 30 pips and it has just hit its TP,after almost 2hrs. Looking forward to Long against the Greenbuck for small pips 20- 50 pips,still cautious. The RBA is expected to cut its rate tomorow so i suppose the Aussie may feel the heat a little.
@alma ; I think passyson has explained to you in the right way,a trade arcade will be a place where we will be giving free forex guidelines and advice,yes we mean free so that a lot of guys can benefit.We do not offer any 100% profits or anything in relation,If you will be interested to participate with the experienced traders @passyson @toni @kilabe e.t.c you will be free to participate but if you think that you need to take time as you learn the ropes slowly then it will benefit you. I think @ passyson is not bragging about saying he makes so much money,as you can follow his positions which we always posts before taking a move and you can compare it with your live trading account or a demo. I think its a session where you can get facts and live fundamentals and help you to get into the markets deeply with information,no signals or systems( i bet we have used a lot of them between these traders here and its nothing sustainable in the long run,get to know the facts and sharpen your knowledge).
All this information we will be doing it at free of charge as we think we can benefit more from the market through informed people and more people can get to know the markets with time and benefit a lot out there genuinely. Am telling you with assurance that the free information and skills you will acquire will be practically and consistent and i bet no one out there will even give you 10% of what you will get from us freely and you will be able to compare our knowledge with anyone outthere in the market.
Dont be hyped about paying astronomical figures,signals or systems e.t.c.If somebody tells you anything superior please dont hestitate to forward it to me,toni,passyson or kilabe and for sure we will help you look at its weakness and strenghts and you shall be informed rather than be given honey only.
Have a good trading day
@NGAATU
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Rank: Member Joined: 8/11/2008 Posts: 11
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Alma,visit www.babypips.com it will help you alot,it is the best website,click on school and start your forex school education,it is free. My advice to you is,after you read all the topics in that website,practise on a demo account for one month,then open a mini account after you feel comfortable trading. Never open a standard account you will get wipe out in few days and you will think forex is a scam.i think a standard account needs like $ 15,000 so you can absorp some losses. The most risk in life is taking no risk at all
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Rank: Member Joined: 8/8/2008 Posts: 97
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Had to close my AUD/USD position @ a loss of 560 dollars...it is a losing position...watching the indicators to see what position i should enter in the New York open
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 8/8/2008 Posts: 97
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Gone short NZD/USD @0.59008 with a S/L @ 0.60008 and T/P @ 0.58608...20 lots
Also short AUD/USD @ 0.676520 with a S/L @ 0.68652 and a T/P @ 0.67252..25 lots
Anyone who lives within their means suffers from a lack of imagination
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Rank: Elder Joined: 7/20/2007 Posts: 4,432
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@cckip, Thanks for the tip. However,I have been trading for some 9 years and actually wrote most of the articles on baby pips and some other forex websites.......My question is about the trader arcade. i wouldn't mind sharing what I know or don't know. ....As for accounts.If you wish to trade for as long as I have,if you have anything less than 10k dollars,stick to the mini accounts and preferably micro mini accounts from oanda. If you wish to trade a standard account,over 20k dollars and very conservative. .... From experience,you might make money for about a year or two then your world will come crashing down in a hurry...Trust me,I have seen it too many times to count. by the way,how come this forum does not allow formating when using google chrome? Jose: If I make it through this thug life, I'll see you one day. The Lord is the only way to stop the hurt.
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Rank: Member Joined: 8/8/2008 Posts: 97
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T/P for AUD/USD and NZD/USD achieved...see how the rest of the NY session unfolds...
Short GBP/USD 1.608830 with a S/L @ .61683 and a T/P @ .60483...
G/L.
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 8/8/2008 Posts: 97
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That was fast...GBP/USD T/P hit...now i can rest for like 2 hours...will b back later.
Anyone who lives within their means suffers from a lack of imagination
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